AWS to invest $5.3 bn in Saudi Arabia, open data centres

AWS unveils $5.3bn investment to advance Saudi Arabia’s cloud infrastructure

The new region will consist of three availability zones at launch, adding to the existing 105 zones across 33 geographic regions globally

e& allots $6bn to boost connectivity in 16 markets

UAE’s e& to invest $6bn to advance connectivity in 16 countries

The group is set to reinvest in building networks of the future to accelerate technology adoption and increase fibre penetration and fast mobile network speeds

Ramadan working hours

Private sector working hours announced for Ramadan 2024

According to the notification, working hours for the private sector have been curtailed by two hours on a daily basis

UAE

Ramadan 2024: UAE announces reduced working hours for the holy month

According to the government circular, ministries and federal entities will adhere to a specific schedule during Ramadan

Aramco - oil supply to China

Aramco completes acquisition of 100% equity stake in Chile’s Esmax

The deal, which was first announced last September, represents the company’s first downstream retail investment in South America

Coursera's Jeff Maggioncalda on the future of learning and work

Want to enhance your career prospects? Coursera’s CEO shares key tips

Coursera CEO Jeff Maggioncalda shares how the global online learning platform is enabling adaptive and personalised learning experiences for students and professionals

Oil prices surge after OPEC + extends output cuts

Oil nudges higher after OPEC+ extends output cuts

OPEC+ is extending voluntary oil output cuts of 2.2 million barrels per day into the second quarter and this is expected to cushion the market

Hedge fund. - Sanjay Shah

British trader gets 8 years in prison in Sanjay Shah’s Danish tax fraud case

The case sets the stage for the upcoming trial of British hedge fund trader Sanjay Shah, the main suspect in the “cum-ex” trading scheme

Red Sea

Ship sunk after Houthi attack could lead to environmental disaster in Red Sea

The Rubymar went down in the southern Red Sea late on Friday or early on Saturday

Oil hovers near 3-week high on Middle East tensions

OPEC+ producers extend oil output cuts to second quarter

The oil demand outlook is uncertain for this year but OPEC expects another year of relatively strong demand growth of 2.25 million bpd

Etihad Rail and ADNOC to launch passenger train service in Abu Dhabi Image courtesy Etihad Rail

PHOTOS: Taking a ride on Etihad Rail with top UAE officials

Take a look at an Etihad Rail train trip from Abu Dhabi to Dubai that included the CEO of Etihad Rail, Shadi Malak, along with Major General Sheikh Ahmed bin Tahnoun Al Nahyan.

Naming rights for Emarat fuel stations up for grabs in UAE

Brands can now secure naming rights to Emarat fuel service stations across the UAE

Building a Saudi Arabian Silicon Oasis

PIF-owned Alat aims to create a world-class manufacturing electronics hub in the heart of Saudi Arabia

UAE WEATHER

Thunderstorms, heavy rain to impact UAE from Monday

The UAE’s NCM has warned of rainfall, lightning and thunder expected on Monday and Tuesday across various parts of the Emirates

Geopolitical tensions to complicate WTO deal-making in Abu Dhabi

4 key outcomes from WTO negotiations in Abu Dhabi

Talks ended at the WTO Abu Dhabi meeting after five days of negotiations which didn’t see breakthroughs on key topics

Saudi Arabia officially launches FIFA 2034 World Cup bid

Saudi Arabia’s football federation has officially launched its bid to host the 2034 FIFA World Cup

Oil price advances as spreads signal market strength

Oil rises, markets await OPEC+ decision amid mixed demand drivers

A decision on extending the cuts is expected in the first week of March, with individual countries expected to announce their decisions

Tech Mahindra - MWC 2024

Tech Mahindra’s successful outing at MWC 2024 with key signings

From signing on new clients to displaying its expertise in the green transition, Tech Mahindra made the most of its time in Barcelona

ADNOC closes acquisition of 24.9% stake in OMV

ADNOC buys 25% stake in 68-year-old Austrian chemical group

The company said it intends to nominate two representatives to the OMV supervisory board

Dubai E-scooters

E-scooters banned on Dubai metro but foldable bicycles still allowed

Dubai’s Roads and Transport Authority (RTA) will ban the use of e-scooters inside the city’s metro and tram system as of today, 1 March 2024.

Masdar takes 49% stake in British offshore wind farm

UAE’s Masdar acquires 49% stake in British offshore wind farm

Construction of the mega-facility could start in late 2025, with the first 800 megawatts (MW) of electricity expected to come online by 2029

WTO

Tough negotiations at WTO meet amid digital trade impasse

The scheduled announcement of a final agreement after four days of intergovernmental talks between the WTO’s 164 members was pushed back for a fifth day until 2pm on Friday in Abu Dhabi

Sir Tim Clark warns: Boeing under intense pressure amid incidents

At an event in London, Sir Tim Clark warned that Boeing management is under “really acute” pressure to turn things around

From the 146th floor to the racing track: AIX’s drive to elevate impact

AIX has become one of the big-name investment advisory firms here where GCC and global investors turn to invest their wealth

How ROSHN is building supply chain resilience in Saudi Arabia

Saudi Arabian real estate developer ROSHN is not only building out entire communities, but also helping to shape key supply chains

UAE announces fuel prices for March 2024

UAE hikes petrol, diesel prices for March 2024

The fuel price committee increased the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 16 fils per litre in March

Meet Rizwan Sajan: Danube’s famous 1% Man

As a real estate mogul, Sajan continues to shape the skyline of Dubai, contributing to the city’s growth and development

SNB Capital launches fund with a focus on oil and gas

Saudi Arabia’s SNB Capital launches $230m oil and gas fund

The transaction creates a unique opportunity to acquire a large-scale portfolio with a production capacity of 600,000 barrels of oil equivalent per day

FAB targets Dhs300 million in revenue from China by 2026

Abu Dhabi’s FAB to triple revenue from China operations by 2026

The bank opened its fully licenced branch in mainland China in 2022 and grew its business there by 50 per cent in 2023

Abu Dhabi’s Mubadala to invest in space tech, AI this year

Mubadala plans to invest in space tech, AI this year

Khaldoon Mubarak told an investor conference that sovereign funds had an opportunity to transform from asset investors to enablers of global progress