The pacts were signed at the PIF’s Private Sector Forum.

Shanghai, China--Shanghai plans to build 200 new smart factories and 20 demonstration sites by end of 2025 after 70 intelligent plants in 2023, officials announced, solidifying its intelligent manufacturing stronghold, according to China Daily report.Covering auto, equipment and IT, this year's batch features life-cycle, process and supply chain enhancements. As...

DUBAI, UAE — The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according to Knight Frank's latest report: Dubai & Abu Dhabi Industrial Markets Review, Q3, 2023.According to Knight Frank, demand is outstripping supply and occupiers are faced with the prospect of leasing...

Israeli Prime Minister Benjamin Netanyahu's office wrote on X that a "minimal supplement of fuel necessary to prevent a humanitarian collapse and the outbreak of epidemics" had been approved to enter "into the southern Gaza Strip". The announcement follows the UN warning of a total breakdown of public order in...

Dubai, UAE--ENOC Group has signed a memorandum of understanding (MoU) with Neste, the world's leading producer of sustainable aviation fuel (SAF), in a pivotal step towards exploring the possibilities of supplying and purchasing of SAF regionally in the coming years. This ambitious goal underscores ENOC's proactive approach to fostering a...

SABIC Agri-Nutrients Q3 net profit fell 55% to $280 million.

Dubai, UAE--A top Hamas official called on Egypt Sunday to take "decisive" action to expedite aid to Gaza amid criticism over the pace of vital supplies reaching the war-torn Palestinian territory."Egypt should not remain a spectator," Hamas politburo member Musa Abu Marzouk said in a statement."We expect a decisive stance...

Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and services to the kingdom's healthcare sector.As per the terms of the agreement, Agility and MISA will explore four areas of collaboration in the healthcare sector. This includes the potential for...

Demanding that aid be immediately allowed to go into the besieged enclave, Arab foreign minister condemned Israel's siege of Gaza in the wake of the shock attack by Palestinian militants on Israel. It has imposed a "complete siege" on the Gaza Strip, cutting off the water supply, food, electricity and...

The UN's World Food Programme expressed concern over the mounting challenges civilians, including vulnerable children and families, face in accessing essential food supplies, with food distribution networks disrupted by hostilities. The WFP is concerned about stocks in food shops and the impact of power cuts in the Gaza Strip.

The jump in oil prices came in the wake of a a surprising drop in US crude inventories. Oil prices have been trending higher following moves by Russia and Saudi Arabia to limit output. The US futures benchmark, West Texas Intermediate for delivery in November, jumped 3.6% to $93.68 per...

It invested the money to be a big supply chain player.

Abu Dhabi, UAE--ADNOC Gas today announced an agreement valued between $450 million and $550 million to supply Liquefied Natural Gas (LNG) to PetroChina International Company Limited (PCI), a subsidiary of PetroChina Company Limited, one of the leading oil and gas producers and distributors in China.This agreement underscores ADNOC Gas’ growing...

Muscat, Oman-- Oman LNG has signed an agreement with Securing Energy for Europe (SEFE) to supply 400,000 tonnes of liquefied natural gas a year from 2026.According to Oman News Agency, the agreement with the German company is based on a four-year contract.“The term-sheet signing with SEFE marks another milestone. Going...

Abu Dhabi, UAE-- In a boost to the UAE's effort to secure self-sufficiency in the food sector, ADQ has partnered with Safe Haven Solutions, a Netherlands-based climate-smart agriculture solution provider, to construct a high-tech greenhouse at ADQ’s AgTech Park in KEZAD. The automated 10-hectare facility will leverage advanced agricultural technology...

Dubai, UAE--Oil prices soared more than a dollar a barrel on Friday to record a sixth consecutive week of gains, after top producers Saudi Arabia and Russia extended supply cuts through September, adding to undersupply concerns.Brent crude futures rose $1.10, or 1.3%, to settle at $86.24 a barrel, while the...

Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the year as non-oil economy witnesses strong growth in spite of global macroeconomic headwinds. According to a market report by CBRE, rental performance in Abu Dhabi’s occupier market showed substantial improvement...

ROME, ITALY - World cereal production is predicted to hit a record high in 2023-24, according to the latest Cereal Supply and Demand Brief, released by the Food and Agriculture Organization (FAO) on Saturday.FAO raised its 2023 global cereal production forecast to 2 819 million tonnes, indicating a 1.1 percent...

Amman, Jordan--The European Investment Bank (EIB) has approved the provision of $66.52 million for Jordan to upgrade the water supply system and reduce water loss in Bani Kinanah district north of Jordan.The project is intended to improve the quality of drinking water in the targeted districts and reduce water loss...

Riga, Latvia--Al Dahra Group has signed a supply agreement with Golden Fields, an Estonian agriculture company specializing in the production of premium quality animal feed grown in the Baltic region.At an event in Riga attended by government officials, farmers, and businesses from Lithuania, Latvia and Estonia, Al Dahra Group and...

Alcoa is now EGA's largest third-party supplier of alumina.

Abu Dhabi, UAE-- The UAE's gross domestic product (GDP) is estimated to have grown 7.6 percent in 2022, shored up by economic activity across all sectors.The conclusion was made in an annual report released by the Central Bank of the United Arab Emirates (CBUAE), which said that the UAE's GDP...

The present market conditions indicate that investing in real estate assets, especially in beachfront destinations, is opportune. These destinations are expected to significantly contribute to the growth of the UAE's prime real estate sector in 2023 and beyond, with no signs of this trend diminishing.

Dubai, UAE-- The World Free Zones Organisation’s (World FZO) ninth Annual International Conference & Exhibition (AICE) will begun in Dubai from today. Held under the theme ‘Global Trade 2.0: Zones, An Ecosystem of Trust Driving Prosperity,’ this year’s two-day event reflects the organisation's commitment to facilitating the contribution of free...

Paris, France--French energy giant TotalEnergies announced Wednesday an agreement with Iraq on a $10 billion project that had been delayed due to disagreements over the terms of a deal aimed at improving the country's electricity supply.The contract, originally signed in 2021, includes investments in oil, gas and solar production.But the two...

VIENNA, AUSTRIA  -  Coca cultivation hit a record high by soaring 35 percent from 2020 to 2021, a UN report showed Thursday, amid new cocaine trafficking hubs emerging in southeastern Europe and Africa.Bolivia, Colombia and Peru - which have historically dominated the production of coca leaves - altogether cultivated an area...

The Gulf countries are also able to attract highly qualified and scientific expertise and skilled workers, and they possess the primary resources for the manufacture of chips and semiconductors, especially silicon extracted from sand, plastic and petroleum materials, he adds.

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) inaugurated 17 new substations in 2022.These include fifteen 132kV stations with a conversion capacity of 2,280 megavolt amperes (MVA) and two 400kV stations with a conversion capacity of 4,000 MVA, in Al Qusais Industrial Area 5 and Jebel Ali First.DEWA installed...

BAGHDAD, IRAQ - Iraq's Prime Minister Mohammad Shia al-Sudani left Thursday for Berlin to meet with German Chancellor Olaf Scholz and discuss projects to address chronic power shortages, the premier's office said.Despite its oil riches, Iraq is beset by crumbling infrastructure, endemic corruption and decades of war.Dependent on its powerful neighbor...

New York, US--Russia on Tuesday banned oil sales to countries and companies that comply with a price cap agreed by Western nations, briefly helping to lift crude prices."The supply of Russian oil and oil products to foreign legal entities and individuals is prohibited if the contracts for these supplies directly...

With an intensified focus on end user quality of experience while increasing protection from cyberattacks, IT will look to a single centralized management system with visibility across the network and the ability to configure edge-to-cloud QoS and security policies, adds Hughes.

In the first nine months of 2022, real estate transactions in the region totaled more than US$143bn, surpassing the full-year US$136.9bn figure during 2021, says Kamco Invest.

Iraq is currently supplying Jordan with 10,000 barrels of oil per day (bpd).

Beijing, China—China has filed a dispute with the World Trade Organization over US restrictions on chip exports, Beijing's commerce ministry said in a statement late Monday, accusing Washington of threatening global supply chains. The United States in October announced new export controls aimed at restricting China's ability to buy and manufacture...

RIYADH, SAUDI ARABIA - Carbon credits could make a significant contribution to achieving net zero by 2050, but only if participants address issues over limited supply and integrity, the Secretary General of the International Energy Forum (IEF) told a conference. Trade in voluntary carbon credits could grow 100-fold by 2050...

Vowing to work with allies in order to counter Tehran, Britain's foreign minister has blamed Iran for "spreading bloodshed. Ukraine and its allies have accused Tehran of supplying drones to Russia, which Kremlin has used in recent weeks to carry out attacks in Ukraine.

Some of Germany’s leading industrial companies participated in a roundtable event hosted by the UAE Ministry of Industry and Advanced Technology at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022.

Tehran, Iran— Iran announced Sunday a contract with Russia to supply it with 40 turbines to help its gas industry amid Western sanctions over Moscow's war in Ukraine, local media reported. Iran's "industrial successes are not limited to the fields of missiles and drones," Iranian Gas Engineering and Development Company's CEO,...

Several Western countries are calling for an "impartial" investigation into Iranian drones they say Russia is using in the war in Ukraine. In their letter, France, Britain and Germany said they would "stand ready to support the work of the Secretariat in conducting its technical and impartial investigation."

Chemical companies in the Gulf region are likely to cope relatively well with the current stresses of rising rates and higher energy costs, says a recent report.

UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said that the crises facing the world today put the health and lives of millions of people at stake without distinguishing between developed and developing countries.

Seeking new exporters of gas to the continent, European Union's energy commissioner has hailed a "long-term strategic partnership" with Algeria as it turns to Africa's biggest gas supplier to fill a gap left by Russian supplies. Europe's search for gas has become ever more urgent as winter approaches.

Amid crippling energy shortages, the British government is negotiating with Qatar and Norway to secure new long-term gas contract, according to media reports. The reports said that Prime Minister Liz Truss is in favor of the deal, which would secure long-term energy sources and cut down the cost of the...

Jordan Prime Minister Dr. Bisher Khasawneh has a joint meeting with the agriculture ministers of Iraq, Syria and Lebanon.

It won a $40 million contract from Aramco to supply pipes.

Norway, which has replaced Russia as Europe's leading supplier of natural gas, dashed the hopes of EU member states who wanted a cap on gas prices. After his phone call with European Commission President Ursula von der Leyen, Norway's Prime Minister Jonas Gahr Store said he was "skeptical" about a...

Erdogan told reporters before departing for a three-nation swing through the Balkans that European nations were "harvesting what they sowed" by imposing economic restrictions on Russia.

In a thinly veiled criticism of the OPEC's decision to cut supply, the US said that oil production must be kept up to bolster global economic growth. White House Press Secretary said that President Joe Biden ‘has been clear that energy supply should meet demand to support economic growth and...

Looking to tide over the persistent problem of a lack of energy supply in the country, particularly in the summer due to high temperatures, the Iraqi Ministry of Electricity says it needs 35,000 megawatts of energy to achieve self-sufficiency.

Owing to its energy saving measures in recent weeks coupled with huge purchases of gas from suppliers other than Russia, Germany has replenished its gas stocks more quickly than expected. This, after Russia drastically reduced gas supply in the wake of the outbreak of war in Ukraine.