Paris, France--Oil and gas producers face pivotal choices about their role in the global energy system amid a worsening climate crisis fuelled in large part by their core products, according to a major new special report from the IEA. The report shows how the industry can take a more responsible...

Jakarta, Indonesia - The Comprehensive Economic Partnership Agreement (CEPA) is expected to increase Indonesia’s exports to the UAE by around $4 billion, the country's Chief Economic Affairs Minister Airlangga Hartarto said on Friday. "It will also increase [our] imports from the UAE by approximately $4 billion,” he added. According to Indonesia's...

Dubai, UAE--Dubai will host a gathering of international corporate governance experts at the upcoming ICGN-Hawkamah Conference, themed 'Capital, Companies, and COP28.' Taking place over two days starting November 28th at the Dusit Thani Hotel, the conference will serve as a prominent platform for governance leaders, experts, and industry luminaries to...

RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of investments, Abdulrahman Altawil, the Kingdom’s Deputy Minister, Developmental Housing, Municipal and Rural Affairs and Housing said here. This reflects their confidence in the Egyptian market, he said. In a speech...

DOHA, QATAR - The merchandise trade balance of Qatar (difference between total exports and imports) recorded a surplus of US$6.7 billion (QR60.9 billion) Q3 2023, down from US$28 billion (QR102.1 billion) in Q3 2022. According to the press release on Quarterly Foreign Merchandise Trade Statistics, Q3 2023 State of Qatar,...

Dubai, UAE -- A total of1,852 real estate transactions valued at more than AED 9 billion ($2.45 billion) were conducted during the week ending 24th November 2023, according to the Dubai Land Department (DLD). The DLD weekly report said that 384 plots were sold for AED 2.54 billion, 1,468 apartments...

RIYADH, SAUDI ARABIA - The Saudi-Algerian Business Forum concluded its activities with the two countries signing eight agreements aiming at enhancing trade and investment. The agreements covered trade, investment, information technology, business incubators and accelerators, tourism services, elevators, and spare parts. The agreements were signed on Thursday by the Federation...

Japanese auto giant Nissan will invest up to £1.12 billion.

Dubai, UAE -- Qatar Chamber has underscored Qatar's significant strides in the transport sector, positioning the nation as a formidable player with a $9.9 billion market investment. This achievement has propelled Qatar to claim the second-best spot in the region for logistics efficiency. Eng. Ali bin Abdullatif Al Misned, a...

Dubai, UAE -- Saudi Arabia’s oil exports fell by 17.1 percent (SAR 17.2 billion or $4.58 billion) in September, mainly leading to the 17.1 percent fall in overall merchandise exports to SAR 103.8 billion, from SAR 125.3 billion in September 2022.   The share of oil exports in total exports increased...

MEEZA is a Managed IT Service and Solutions provider in Qatar.

The pact sets up a framework for knowledge, data sharing

The pact will help in creating job opportunities in the UAE.

ABU DHABI, UAE – Emirates Global Aluminum (EGA) on Thursday announced the construction of a pilot plant to convert bauxite residue, a waste stream from alumina refining, into manufactured soil. The pilot plant is considered to be the first-of-its-kind in the world. Construction follows five years of scientific research development...

ABU DHABI, UAE - Masdar City, a sustainable urban community and a business and technology hub here, has just completed the region’s first net-zero energy commercial building, called NZ1. The building’s simple design demonstrates that net-zero energy is possible for almost any developer, setting a new benchmark for architects and...

Paris, France--The International Energy Agency on Thursday called on oil and gas companies to devote half of their investments to clean energy by 2030, urging them to face a "moment of truth" at next week's COP28, the largest UN climate change conference ever held. The IEA urged producers to make the...

Manama, UAE--The Bahrain Institute of Banking and Finance (BIBF) has partnered with UpGradelle, a leading French-based consultancy firm, to develop capabilities in the field of digital transformation. The agreement was signed during the visit of Eric Giraud-Telme, the Ambassador of France, who serves to strengthen education and training ties between...

Dubai, UAE--Dubai International Chamber has attracted a total of 92 businesses, including 15 multinational companies and 77 SMEs, to the emirate between January and September 2023. The chamber has also supported the successful expansion of 33 Dubai-based companies into global markets, either by increasing their exports or helping them to...

New York, United States - Wall Street stocks resumed their upward climb early Wednesday following strong results from artificial intelligence player Nvidia as US Treasury yields retreated. Nvidia said it made a profit of $9.2 billion on revenue of a whopping $18.1 billion in the third quarter, compared with $5.9 billion...

The current output strategy by OPEC+ that saw nine members led by Riyadh to cut production in recent months to boost prices has failed to bring about lasting recovery. Some analysts have pointed to possible discord between top crude oil producers Saudi Arabia and Russia.

Seoul, South Korea - Binance boss Changpeng Zhao has become the most powerful cryptocurrency figure to fall in a two-year period chaotic even by the standards of the notoriously volatile industry. Zhao stepped down as CEO of Binance -- the largest crypto exchange in the world -- after he and the...

Riyadh, Saudi Arabia -- Nearly 43 percent of people in Saudi Arabia expect to send cross-border payments more frequently in the next 12 months, according to Mastercard’s Borderless Payments Report 2023. Globally, the report highlights two in five (40 percent) senders, and half of receivers, intend to use cross-border payments...

Texas, US--Oil prices hardly moved during Asian trade on Wednesday as the market awaited potentially mixed news on the supply front, with the OPEC+ producers group expected to discuss output cuts and U.S. crude stocks forecast to show a big build-up. Brent crude futures fell 3 cents, or 0.04%, to...

Binance's guilty plea is part of coordinated action including with the Treasury Department's Financial Crimes Enforcement Network and Office of Foreign Assets Control (OFAC), the Department of Justice said. Its violations included its failure to prevent and report transactions with groups like the Islamic State of Iraq and Syria and...

Tehran, Iran--Iran will begin construction work on joint railway projects with Russia as part of the International North-South Transport Corridor (INSTC). "The preliminary steps and obtaining the necessary permits for the construction of the Rasht-Astara railway have been carried out by the Iranian side, and we hope that with the...

Dubai, UAE -- The United Arab Emirates (UAE) holds nearly 40 percent of the aircraft fleet in the Arab region, Director-General of the Arab Civil Aviation Organisation (ACAO) Abdennabi Manar said. Speaking to the Emirates News Agency (WAM) on the sidelines of the ongoing third International Civil Aviation Organisation (ICAO)...

ShareAction said banks amplify "green credentials to their customers and shareholders" but there is a "structural" lack of transparency on what their green finance activities achieve. It examined the green finance commitments and activities of Europe's top 20 banks. Banks are widely criticised for slow progress on the transition to...

Muscat, Oman--Oman LNG has entered into a sale-and-purchase agreement (SPA) with BP to deliver a total of 1 million metric tonnes per annum (MTPA) of LNG to BP. The agreement strengthens the robust relationship between Oman LNG and BP, with which the company has previously signed SPAs to supply reliable...

Stockholm, Sweden - Battery group Northvolt said on Tuesday it had developed a new sodium-ion battery, a technology using less critical minerals which could lessen dependence on China. "The world has put high hopes on sodium-ion, and I'm very pleased to say that we've developed a technology that will enable its...

Jakarta, Indonesia - Indonesia on Tuesday launched an investment plan to attract $20 billion pledged by Western nations in a renewable energy transition pact agreed last year for the archipelago to slash emissions and wean itself off coal. The roadmap, which comes less than two weeks before the COP28 summit in...

ABU DHABI, UAE  - Emirates Global Aluminum (EGA) on Tuesday announced the start of construction of the country’s largest aluminum recycling plant. The state-of-the-art facility, with an annual production capacity of 170,000 tonnes, is being built adjacent to EGA's existing smelter in Al Taweelah. The plant will utilize a combination...

Dubai, UAE -- The current production of sustainable aviation fuel (SAF) represents less than 1 percent of the sector's demand, despite the production and usage accelerating threefold in 2023 compared to the previous year. This has led to significant investments in the field, with airlines committing to purchasing available quantities...

The conglomerate intends to sell 33.25 million shares.

The results underscore the firm’s robust financial performance.

Dubai, UAE -- UAE defense conglomerate EDGE Group has inked deals worth at least $1.8 billion during the Dubai Airshow, with the Emirati military as a key customer, media reports said. A $1.1 billion deal with UAE Ministry of Defense for aircraft munitions was the biggest of the deals. This...

Final offer price will be fixed through a book-building process

Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has signed a three-year currency swap agreement with the Central Bank of China. The maximum value of the swap is 50 billion Chinese yuan ($7.02 billion). The agreement is part of the financial cooperation between the two central banks, which works...

The action against Kraken by the financial markets regulator will likely pour cold water on the hopes of many firms in the sector that it was taking its foot off the gas when it came to regulation after a series of unfavorable court rulings. The SEC took legal action in...

The White House confirmed it had launched Threads accounts for the president, First Lady Jill Biden, Vice President Kamala Harris, her husband Douglas Emhoff and the White House itself in English and Spanish. An official said that Threads is an additional way "we can communicate with the American people about...

Abu Dhabi, UAE--ADNOC and Santos have signed a strategic collaboration agreement (SCA) to build a joint global-carbon-management platform that could support the decarbonisation journey of customers throughout Asia-Pacific. The SCA also provides companies with the opportunity to work together to advance critical carbon capture and storage (CCS) technologies necessary to...

Abu Dhabi, UAE--The UAE has solidified its stature as a key player in the global financial landscape, through launching economic projects and initiatives that have made it an ideal partner for the NYSE in exploring new markets, said John Tuttle, Vice Chairman of the New York Stock Exchange (NYSE) and...

In a fast-moving sequence of events, Altman, who was ousted by the board on Friday, has now been hired by Microsoft where he will take the lead in developing a new advanced AI research team. There was talk Monday that OpenAI is interested in Altman returning, and that he may...

Dubai, UAE--The Dubai Financial Market (DFM), Nasdaq Dubai, and Shanghai Stock Exchange (SSE) have signed a memorandum of understanding (MoU) to further strengthen the ties between the capital markets of Dubai and China. This partnership marks a significant milestone in cross-border collaboration. It will not only facilitate the exchange of...

The company is expected to start trading on ADX in December 2023.

PARIS, FRANCE -  Countries' greenhouse gas-cutting pledges put Earth on track for warming far beyond key limits, potentially up to a catastrophic 2.9 degrees Celsius this century, the UN said Monday, warning "we are out of road". The UN Environment Program's annual Emissions Gap report is released just ahead of crucial...

RIYADH, SAUDI ARABIA – ACWA Power Co  said it received the initial commercial operation certificate from the Dubai Electricity & Water Authority (DEWA) for phase two of concentrated solar power (CSP) Parabolic Trough (PT) 200 megawatts (MW) unit of Noor Energy 1, taking total capacity under operation to 717 MW. The second phase is part of a 950 MW solar CSP independent...

DUBAI, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has achieved significant growth in membership during 2023. A total of 48,616 new member companies registered between January and September this year, representing an impressive year-over-year (YoY) increase of 42.9 percent...

Oslo, Norway -- Norwegian fertilizer group Yara International on Monday signed a contract to begin transporting CO2 produced at its Netherlands plant to Norway so it can be buried under the seabed, as of 2025. The agreement with Northern Lights, a joint venture grouping oil giants Equinor of Norway, Anglo-Dutch Shell...

If the jerseys sell for above $10m, that could make the sale the most valuable collection of sports memorabilia ever auctioned off, Sotheby's said.

Dubai, UAE -- Nearly 48 percent of individuals in the UAE anticipate an uptick in cross-border payments over the next 12 months and 36 percent expect to receive more cross-border payments during the same period, according to the recently released Mastercard Borderless Payments Report for 2023. Globally, the report indicates...