The United Arab Emirates will build a new Red Sea port in Sudan, as part of a $6 billion investment package, said DAL group chairman, Osama Daoud Abdellatif, a partner in the deal which marks the first major foreign investment since the military took power in an October coup, Reuters reports. Abdellatif said the package […]
China’s national oil majors are in advanced talks with Qatar to invest in the North Field East expansion of the world’s largest liquefied natural gas (LNG) project and buy the fuel under long-term contracts, three people with knowledge of the matter said, Reuters reports. It would be the first such partnership between the two nations, among the world’s […]
RIYADH: Saudi Arabia revised up its GDP in the first quarter to the highest growth rate since 2011 due to the high increase in oil activities. The Kingdom’s GDP grew by 9.9 percent from a year ago, according to the General Authority for Statistics. The annual growth of Saudi Arabia’s at constant prices has been revised up […]
Israel signed a free trade agreement with the United Arab Emirates on Tuesday, Reuters reports. According to the report, Israel’s first signed deal with an Arab State aims to lift their annual bilateral trade to more than $10 billion. The bilateral deal was signed in Dubai by Minister of Economy and Industry, Orna Barbivai and […]
Trade volumes between the United Arab Emirates (UAE) and Israel have hit $2.5 billion since the two normalised relations two years ago, the UAE Foreign Trade Minister Thani Bin Ahmed Al Zeyoudi said on Friday. Speaking at the World Economic Forum in Davos, Al Zeyoudi added that “in the last two years, the trade volume between […]
The United Arab Emirates energy companies, Abu Dhabi National Oil Company (ADNOC) and Masdar, will join British energy giant, BP’s H2Teesside and HyGreen Teesside hydrogen projects, Bloomberg reports. According to the report, BP has taken a major step in strengthening its strategic partnership with two major companies of UAE ADNOC and Masdar of Abu Dhabi. […]
The United Arab Emirates spent around $10 billion in energy, infrastructure and maritime development projects under the rule of the late Sheikh Khalifa bin Zayed Al Nahyan, the official Emirates news agency WAM reported on Monday. The UAE accomplished many achievements under the late Sheikh Khalifa, including being ranked among the top 10 globally in […]
RIYADH: Saudi Industrial Services Co., known as SISCO, posted a 97.5-percent drop in profit for the first quarter of 2022 as a result of ongoing disruptions in global supply chains, the company said in a press release. The company said in a statement that its first-quarter profit fell to SR800,000, ($213,333) down from SR32.3 million […]
Russia’s FM Sergei Lavrov met with Sultan Haitham bin Tariq and Omani FM Badr Al-Busaidi in Muscat
Some of the UAE’s top firms, including ADNOC, Masdar, Mubadala, and ADQ, signed agreements with Greek ministries and companies in the presence of the Abu Dhabi Crown Prince and the Greece Prime Minister