RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to expand into other forms of energy, the Gulf country's energy minister said on Monday. Oil giant Aramco announced on January 30 that the energy ministry had ordered it to maintain...

The company aims to reach 142 operational rigs this year.

Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home territory.

Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home territory.

Abu Dhabi, UAE--The insurance sector in the UAE witnessed growth and expansion across various key indicators during 2022, according to a report by the Central Bank of the UAE, reflecting a strong, dynamic, and active market driven by increasing demand and effective risk management. According to the apex bank's annual...

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...

Founded in 1957, the European Economic Community (later renamed the EU) started out with six members Belgium, France, Italy, Luxembourg,  the Netherlands and West Germany.

Abu Dhabi, UAE--Kazakhstan is keen to expand trade ties with the UAE, setting a target of $1 billion in mutual trade. Speaking to a media outlet in Abu Dhabi, Arman Shakkaliyev, Minister of Trade and Integration of the Republic of Kazakhstan, said: ‘’We got some great plans to unlimit our...

Abu Dhabi, UAE--Abu Dhabi Oil Company (ADOC) is planning more investments and expansions in the UAE, according to a senior company official. Takahiko Shingai, Deputy General Manager and Director of Development Department at ADOC, told the Emirates News Agency (WAM) on the sidelines of the ADIPEC 2023 exhibition and conference...

Vienna, Austria--The Organization of the Petroleum Exporting Countries (OPEC) has confirmed that the UAE's economy grew by 3.8 percent in the first quarter of 2023. In its September 2023 report, OPEC said it expects the UAE's economic expansion to continue, noting that key sectors of the country's economy have seen...

The anticipated inclusion of six nations into BRICS, including Saudi Arabia and UAE, is expected to ease tensions among them, and foster increased bilateral collaboration.

Doha, Qatar--Qatar's non-energy private sector witnessed strong expansion in August on the back of new orders in the manufacturing and financial services, according to the Qatar Financial Centre (QFC). The expansion rate was the third strongest so far in this year, according to the QFC's latest purchasing managers’ index (PMI)...

DUBAI -- DP World expects to add approximately 3 million Twenty-Foot Equivalent Units (TEUs) of new container handling capacity by the end of the year, adding much needed infrastructure and capacity to boost global supply chain resilience. The global trade enabler currently manages approximately 9 percent of the world’s handling...

The money transfer firm plans to set up base across the GCC.

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

Paris, France--Global trade in agricultural commodities is projected to expand by 1.3 percent annually - half the pace recorded in the past decade - due mostly to slower growth in demand by middle-income countries, according to a report released by the Food and Agriculture Organization of the United Nations (FAO)...

Abu Dhabi, UAE--The UAE airports have received nearly 31.8 million passengers in the first quarter of 2023, a rise of 11.5 million passengers from the same period in 2022, when about 20.4 million passengers were recorded, according to the Central Bank of the UAE (CBUAE). Indicating that the civil aviation...

UN Middle East envoy Tor Wennesland issued a warning on Monday against changes made by the Israeli government that will simplify procedures to authorize settlements in the occupied West Bank. The alterations, expected to expedite settlement expansion, have caused international concern.

Ras Al Khaimah, UAE-- Looking to boost economic cooperation and convince businesses across India to invest in the free zone, Ras Al Khaimah Economic Zone (RAKEZ) toured various cities in the country, offering an overview of the potential of expanding their operation in the Middle East through Ras Al Khaimah....

Jeddah, Saudi Arabia--Saudi Arabia and Algeria have agreed to expand bilateral relations, boosting ties in all areas. In this regard, Prince Faisal bin Farhan bin Abdullah, the Minister of Foreign Affairs, and Algerian Minister of Foreign Affairs and National Community Abroad Ahmed Attaf have signed an agreement to establish the...

Abu Dhabi, UAE— AD Ports Group will add drydock services to its portfolio at Khalifa Port in an expansion of its range of port and marine logistics services. With this expansion, from container and cargo handling to vessel repairs and maintenance, Khalifa Port aims to better serve existing clients and...

Cairo, Egypt--Egypt has signed its biggest investment package with Japan aimed at supporting the North African country's transportation development plan. According to a statement released by Egypt's Cabinet, the agreement, worth 100 billion yen ($734 million), will be used to finance Cairo’s metro expansion, a 30-km stretch of land that...

Ras al Khaimah, UAE-- Sunreef Yachts Middle East has signed a cooperation agreement with RAK Maritime City for the development of a new facility in Ras Al Khaimah. The signature ceremony was in the presence of sheikhs, dignitaries and industry professionals. This initiative is an opportunity for both parties to...

LONDON, UK-  Six European countries on Saturday called on Israel to stop expanding its settlements in  Palestine's West Bank. Britain, France, Germany, Italy, Spain and Poland have also jointly condemned the recent attack on Israeli citizens by Palestinian groups. In a joint statement, they said, "We urge the Israeli government...

Doha, Qatar-- Business activity in Qatar has accelerated in December as the FIFA World Cup went on through the month. The latest Purchasing Managers' Index (PMI) survey data from Qatar Financial Centre (QFC) indicated further rapid growth of business activity in December. As was the case in November, wholesale, retail,...

Venture would start with two aircraft and expand to 15.

Riyadh, Saudi Arabia— Foreign companies will be able to obtain approval for dual listing on the Saudi market, according to Tadawul’s CEO. Mohammed Al-Rumaih told media that companies need finance to expand in particular industries, noting that the capital market aims to be the first partner to provide finance for...

It recorded a150% rise in profit in first nine months of 2022.

The Saudi developer will offer 20% of its shares on Nomu.

The airlines have added 42 new countries to their shared network, including Italy, the Maldives, Norway, Singapore, and Sweden.

The shopping app looks to widen its market in MENA.

The Saudi firm will buy UAE company for an unknown sum.

The Saudi pharma firm intends to use the capital for growth.

It raises Saudi low-cost airline's fleet strength to 26.

The purchase is part of Dubai-based firm's expansion plan.

The purchase will help the firm to expand in the MENA region.

The Italian pharma giant is looking at expansion in MENA.

Etihad Credit Insurance (ECI), the UAE Federal export credit company, and its Indonesian counterpart PT Reasuransi Indonesia Utama (Persero) or Indonesia Re, have signed a reciprocal reinsurance agreement to bolster their bilateral trade. The two agencies also agreed to expand their collaborative initiatives across the globe by fostering sustainable and...

The strategy will see the company launch 100 new products.

The Saudi Arabian Oil Company has outlined a clear strategy to continue to invest in both upstream and downstream segments, says Rehan Akbar, Senior Vice-President at Moody’s.

The hike to SR1.336bn will be used to fund expansion plans.

The economy of Saudi Arabia is forecast to grow 7.7 percent this year propelled by the expansion of the kingdom's oil sector, according to Jadwa Investment.

The airline will fly three weekly flights to Serbia's capital.

Careem, the vehicle-for-hire firm, has set its sights on raising some $500 million from investors, including regional sovereign wealth funds.

e&, the UAE telecom firm, is looking to widen its operations overseas and push growth across all business segments.

Alpha Dhabi Holding, the Abu Dhabi-based conglomerate, has announced that it will be investing about AED1 billion in the Abu Dhabi Chemicals Derivatives Company, known as TA’ZIZ. Media reports said the investment comes as part of Alpha Dhabi Holding’s expansion plans and future strategy announced last week targeting AED8 billion...

Meddy Inc, the Qatar-based doctor booking service, has been bought out by the African health tech company Helium Health, embarking on its first expansion outside the continent.

The profit is 21 percent lower than Q3 2020 due to a lower fuel margin.

MICCO Logistics, a subsidiary of AD Ports, has shown interest in tapping into the construction and metals manufacturing sector by expanding its ground fleet with the acquisition of 31 tipper trucks.

The IHC subsidiary has entered commercial shipping segment.