ADQ to open next gen greehouse in ADQ Image ADQ twitter

Abu Dhabi’s ADQ, Safe Haven Solutions to construct high-tech greenhouse in KEZAD

The new project will use advanced technology to sustainably cultivate tomatoes and cucumbers year-round in the UAE

Ajman Bank Dhs550m right issue oversubsribed Mohamed-Amiri Image courtesy Ajman Bank

Ajman Bank’s Dhs550m rights issue receives strong response

The rights issue was oversubscribed 7.4 times, with a total demand of Dhs4.1bn

Saudia inaugurates flights from Riyadh, Jeddah to Beijing

Saudia launches flights connecting Riyadh, Jeddah with Beijing

The new routes reinforce Saudi Arabia’s commitment to boost the growth of the tourism and aviation sectors

Saudi Aramco reports Q2 2023 earnings

Aramco reports a drop in profits of 38% in Q2 2023

The world’s largest oil company reported that it had paid out a base dividend for Q1 2023 of $19.5bn in the second quarter, which was up 4 per cent year-on-year

Saudi

Saudi city of future enlists Dutch help to grow crops in desert

It is carving out an area the size of some 15 soccer fields to form a horticulture oasis on the outskirts of Neom

Fairmont Ramla Serviced Residences Riyadh (Image: Supplied by Fairmont)

Fairmont opens its first Saudi serviced residences property

The 249 residences range in size from one-bedroom suites to four-bedroom penthouses

Ukraine peace talks in Jeddah, KSA

Ukraine peace plan talks end in Saudi Arabia

A tangible outcome from the Jeddah meet was a plan to form working groups under various points of the Ukraine peace formula

Saudi wealth fund PIF reports $15.6bn loss in 2022

Saudi wealth fund takes $15.6bn hit from SoftBank and tech

The fund’s assets under management grew to $595.5bn from $527.8bn in 2021 despite the $15.6bn loss

Standard Chartered

Standard Chartered, DIFC Innovation Hub partner to empower UAE women entrepreneurs

The Women in Tech accelerator programme offers entrepreneurs a platform to unleash their potential, overcome barriers and accelerate their business ventures

Dubai Police adds Mercedes EV SUV to fleet Image Dubai media Office Dubai Police twitter

Dubai Police has added this new luxury EV to its fleet

The luxury EV features a 516hp dual-engine capable of accelerating from 0-100kmph in just 4.3 seconds

UAE MoF announces strategic plan_Photo-courtesy WAM MoF

UAE: Ministry of Finance announces strategic plan for 2023-2026

The plan will develop financial policies to promote economic growth, create a competitive business environment and strengthen international economic relations

Dubai tourism numbers for H1 2023

Dubai surpasses pre-pandemic international tourism levels in H1 2023

The emirate said there were 8.55 million international tourists in the January-to-June period this year, the best first-half performance yet

Saudi Arabia’s PIF sets up company to promote sports sector

Saudi Arabia’s PIF sets up company to promote sports sector

SRJ Sports Investments will invest in businesses specialised in offering unique fan engagement activities and transformative sports technology

Wellington Management opens Dubai Office

Wellington Management set to expand into Middle East with Dubai office

Wellington has been managing assets for clients in the Middle East and North Africa for 29 years and decided to expand into the region to support local needs

ADNOC Gas reports $2.3bn in half-year net income

ADNOC Gas’ H1 2023 net income plunges 12% to $2.3bn

Brent crude oil prices, which are used for gas pricing, decreased by nearly 31 per cent during the period under review

supply chains

How artificial intelligence is helping deliver smarter supply chains

Taarek Hinedi, vice president of FedEx Express Middle East and Africa operations, showcases why the company is a pioneer in express transportation

The new Land Rover Defender 130 surfs the dunes

The beast can go from zero to 100 km/h in 6.6 seconds, and that’s just one of the things we love about it

Saudi Fund for Development signs loan agreement for hospital project Image SFD

Saudi Fund for Development signs $75m loan agreement for hospital project in Saint Lucia

This agreement is part of SFD’s efforts to support sustainable development in developing countries and small island developing states

Burjeel Holdings’ half-year profit up 47% to Dhs225m

Burjeel Holdings’ half-year profit up 47% to Dhs225m

The healthcare services provider’s H1 revenues surged by 13.9 per cent year-on-year to Dhs2.2bn, driven by an increase in patient footfall

Airbus

Airbus delivers 65 planes in a month in bid to meet annual goal

The planemaker shipped 381 aircraft through the end of July

Hilton to open over 50 properties in Saudi Arabia onrad Riyadh Laysen Valley

Hilton to quadruple its presence in Saudi Arabia, aims to open over 50 new hotels

Hilton currently operates 16 hotels in Saudi Arabia, including Waldorf Astoria Jeddah – Qasr Al Sharq, Conrad Makkah, and Hilton Riyadh Hotel & Residences

OSN

OSN’s Devrim Melek, Andy Grant share top trends in media and entertainment industry

In an exclusive interview, OSN unveils the impact of the evolving media landscape on modern viewers

India imposes import curbs on laptops

Apple, Samsung freeze India laptop imports after sudden curbs

The import restriction adds to longstanding measures designed to discourage bringing in foreign electronics

How ASUS BUSINESS is meeting the diverse needs of organisations

With ASUS BUSINESS, organisations can confidently rely on solutions that drive productivity and set new standards in the industry, backed by a legacy of excellence and innovation

Dubai Investments releases H1 figures Image Dubai Investments

Dubai Investments H1 net profit rises 59% to Dhs580m

The company reported a 65 per cent increase in net profit to Dhs266.03m in Q2 2023 as compared to Dhs161.54m in Q2 2022

Ukraine peace blueprint in Saudi Arabia

Saudi Arabia hosts talks on Ukraine peace blueprint

The kingdom is increasingly trying to position itself as a diplomatic powerhouse and has said it wants to mediate between Ukraine and Russia

Saudi Arabia announces oil production cuts until September

Saudi Arabia extends voluntary oil production cuts into September

It’s the second time the kingdom has extended the oil production cut, which was first announced in June after a meeting of the OPEC+ countries

Absheron

ADNOC to acquire 30% equity stake in Absheron gas field

The first gas from Absheron was successfully delivered in early July 2023

Fitch says sukuk pricing remains similar to bonds in H1 2023

Sukuk pricing remains similar to bonds in H1 2023

Sukuk and bonds had a high pricing correlation of 0.95 (out of 1) on average and low average spreads between 2018 and H1 2023

ADNOC L and S

ADNOC L&S reports 327% increase in net profit for H1 2023

ADNOC L&S attributed its strong performance to its expansion of asset and customer base, decarbonisation of operations, and entering new verticals