It will export annually up to 1.2m metric tonnes of LNG.

The city of Sharjah accounted for the largest (3,794) share of the transactions.

Riyadh, Saudi Arabia -- Saudi Arabia’s exports to Turkey during the past three years amounted to SAR 52.280 billion ($13.93 billion), and the Kingdom’s imports from Turkey totaled SAR 16.787 billion. Saudi exports largely comprised plastics, metal products, organic chemical products, steel, precious metals and stones and its imports from Turkey were...

QE is working to increase LNG production capacity by 64%.

Abu Dhabi, UAE -- Abu Dhabi National Oil Company (ADNOC) has commenced the construction of the Middle East's inaugural high-speed hydrogen refueling station. The station, situated in Masdar City and spearheaded by ADNOC, will utilize an electrolyser powered by clean grid electricity to produce clean hydrogen from water. Hydrogen, a...

Regional traders extended Monday's retreat sparked by disappointing second-quarter data out of Beijing that missed forecasts badly and highlighted the tough job officials face in getting the country's post-Covid recovery back on track. And while there is an expectation that fresh stimulus measures are in the pipeline, analysts warned that...

Haluk Bayraktar, CEO of the drone manufacturer which is co-run by one of Erdogan's sons-in-laws, in a tweet called the deal "the biggest defence and aviation export contract in the history of the Turkish Republic". The value of the deal has not been made public.

Doha, Qatar--Small and medium-sized companies in Qatar have signed deals worth $201 million during the first half of 2023, benefiting from the various services of the Qatar's Export Development & Promotion Agency (Tasdeer). In a report, Tasdeer highlighted the momentum witnessed by the participation of small and medium-sized companies in...

New York, US--Saudi Arabia and Bahrain are looking to collaborate in order to speed up the sustainable development goals, aligning them with government programs under the 2030 Agenda. In this connection, discussion took place at a joint meeting between Amna bint Ahmed Al Romaihi, Minister of Housing and Urban Planning, Noor bint Ali Alkhulaif, Minister of...

Putin has been threatening to pull out of the arrangement, arguing that elements of the deal allowing the export of Russian food and fertilizers have not been honored. Russia also accuses rich countries of profiting from the bulk of Ukrainian exports. But Zelensky says that "60% of the volumes" were...

The Norwegian watchdog, Datatilsynet, said Meta uses information such as the location of users, the content they like and their posts for marketing purposes. "The Norwegian Data Protection Authority considers that the practice of Meta is illegal and is therefore imposing a temporary ban of behavioural advertising on Facebook and...

In a UAE's first, Istikrar will offer long-term, fixed-rate home finance.

Turkish President Recep Tayyip Erdogan has embarked on a three-state Gulf tour, beginning with Saudi Arabia, as he seeks to attract foreign investment in Turkey's ailing economy. The visit comes as Turkey battles currency collapse and soaring inflation. The Saudi-Turkish business forum was aimed at enhancing trade and investment relations.

Deal will provide firm access to capital in dual currencies.

Firm has committed $2 billion for more such carriers.

The Saudi energy developer will be allocated 3,000 sq km of land.

RIYADH, SAUDI ARABIA – Saudi Arabia and Japan issued a joint statement on Lighthouse Initiative for Clean Energy Cooperation. The statement is as follows: On July 16, in Jeddah, Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, and Kishida Fumio,...

Riyadh, Saudi Arabia -- Aramco, TotalEnergies and SABIC have completed for the first time in the Middle East and North Africa (MENA) region the first conversion of oil derived from plastic waste into circular polymers certified with the International Sustainability and Carbon Certification (ISCC+). The plastic pyrolysis oil, also called...

DUBAI, UAE – The city has registered a strong year-on-year growth of 44 percent in business event bid wins in the first half of 2023. The outstanding growth in the number of global events being hosted by the city contributes further to its economic growth in line with the goals...

The company's sales increased by 19.92 percent.

The issuance will be made under a $200m program.

It sold the sub-Saharan Africa business to Access Bank.

The net profit shot up to US$538m in H1 of 2023.

Amman, Jordan--Jordan and the World Bank have signed a $250 million financing agreement for a water sector efficiency project in the kingdom. In this connection, Jordanian Minister of Planning and International Cooperation Zina Toukan and World Bank Country Director for the Middle East Department Jean-Christophe Carret signed Sunday the agreement....

The deal between the two countries will include partnership on irregular migration, economic development and renewable energy. Tunisia has been criticized over its treatment of migrants after President Kais Saied accused "hordes" of migrants from sub-Saharan African countries of a "plot" to change the country's demographic makeup.

GAZA CITY, PALESTINIAN TERRITORIES - Israel returned a boat to a Gaza fisherman it had seized for allegedly breaching the limits of the Palestinian enclave's fishing zone, an NGO said on Sunday, following an Israeli court order. Israeli authorities had called for the vessel, belonging to fisherman Mohammad al-Hissi, to be permanently...

As inflation averages 171% in 2022, one of the highest rates worldwide, people prefer to fix old items such as shoes than buy new ones.

Tripoli, Libya - Oil production has resumed at two major Libyan oil fields, the oil ministry said Sunday, after a brief shutdown by demonstrators protesting the arrest of a former minister. "Operations have resumed in the Al-Sharara and Al-Fil oil fields... after they were suspended" Thursday, said the ministry, part of...

The higher earnings were driven by an increase in revenue.

Herald aims to expand its presence in the region.

The company had promised in April that it would be rolling out the first Cybertrucks before the end of the year. Plans for the vehicle, with its silvery, tortoise-like shape and unusual angles, were first announced in November 2019.

Profit is a 41.5 percent jump compared to H1 2022.

AMMAN, JORDAN - Plastic and rubber products cover 59.7 percent of the Kingdom's domestic consumption, a report by the Jordan Chamber of Industry (JCI) showed. The report indicated that plastic and rubber products are well-established industries in the Kingdom, featuring a variety of types and uses, and contribute indirectly to...

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE)’s Financial Stability Report for 2022 said the FTSE ADX General Index (FADGI.FGI) gained more than 20 percent in 2022. The Abu Dhabi Securities Exchange (ADX) trading value increased by 21.9 percent to AED 451 billion ($122.78bn). In its overview...

Results of large US banks released underscored the boon from higher interest rates, as executives described the world's biggest economy as "resilient" but facing risks. JPMorgan Chase, Citi and Wells Fargo all enjoyed the benefits of being able to charge higher rates on loans, while not suffering much from elevated...

The increases came after a federal judge in Manhattan partially dismissed the SEC's case against the creators of the XRP cryptocurrency, Ripple Labs, who were accused of marketing their currency without first registering it with the Wall Street regulator. The SEC has argued for years that certain digital currencies are...

Dubai, UAE -- A total of 3,626 real estate transactions worth over AED 13.7 billion ($3.72 billion) were conducted during the week ending 14th July, 2023, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 618 plots were sold for AED 6.19 billion, while...

Riyadh, Saudi Arabia: Saudi energy and water desalination developer ACWA Power, along with Haji Abdullah Alireza & Co (HAACO) and Al Moayyed Contracting Group (AMCG) signed a contract with a consortium for the $677 million Rabigh 4 Independent Water Plant (IWP) project. The engineering, procurement and construction (EPC) contract was signed...

Group sales grew 18 percent to $772 million in its Q1.

Abu Dhabi Investment Authority ($853 billion) and Kuwait Investment Authority ($803 billion) ranked fourth and fifth respectively, while Saudi Arabia's PIF was sixth in terms of assets. ADIA invests, on behalf of the government of Abu Dhabi, in equities, bonds, real estate and infrastructure., with most of its investments concentrated...

Dubai, UAE--The UAE and Mozambique have signed a memorandum of understanding (MoU) in the field of workforce to improve the management of the contractual work cycle for Mozambican workers in the UAE. The MoU was signed by Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratisation (MoHRE), and Margarida...

Dubai, UAE-- Officials from Dubai Customs and Japan's consulate have discussed ways to boost trade cooperation between the two countries in a meeting in Dubai. The officials from the consulate expressed appreciation for Dubai Customs and its role in collaborating with international customs authorities and organizations to combat drug smuggling...

Abu Dhabi, UAE-- The Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has reviewed progress of the projects undertaken by the government in the emirate. The crown prince in this connection chaired a meeting of the council...

ExxonMobil will acquire Denbury for $4.9 billion.

Around 100 protesters rallied in Tunisia's capital to demand freedom for detained critics of President Kais Saied who has ruled largely by decree for the past two years. The demonstrators, including detainees' relatives, gathered outside the Court of Appeal in Tunis to protest the continued detention of 20 high-profile political,...

Customs spokesman Lyu Daliang also pointed to outside forces having a "direct impact" on Chinese trade, with Beijing engaged in a long-running stand-off with the United States on a number of issues including trade and technology.

DUBAI, UAE -- Dubai real estate market recorded deals worth AED 3.6 billion on Thursday, Dubai Land Department data shows. The deals included 712 sales transactions worth AED3.38 billion, in addition to 112 mortgage deals of AED200.32 million, and 22 gift deals amounting to AED41.39 million. The sales included 538...

Dubai, UAE -- Trade volume between Qatar and India increased by about 33 percent during 2021 and 2022, reaching $17.2 billion, Qatar's undersecretary for Commerce Affairs at the Ministry of Commerce and Industry Saleh bin Majed Al Khulaifi said. He said India is Qatar's second-largest trade partner. Al Khulaifi chaired...

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received the net-zero statement of verification and assurance certificate in recognition of its relentless efforts in climate action. This followed a comprehensive assessment conducted by W3 Solutionz - USA through CanaGulf International Standardization, based on the International Workshop Agreement Guidelines...

Dubai, UAE - The GCC region could realize $9.9 of economic growth for every $1 invested in GenAI. At that rate, the overall economic impact of GenAI could reach $23.5 billion per year by 2030 within the region, Strategy& Middle East, part of the PwC network revealed in a study. ...