Saudi Aramco, Sempra sign 20-year LNG offtake deal

Saudi Aramco, Sempra sign 20-year LNG offtake deal

Aramco and Sempra expect to execute binding LNG and definitive equity agreements with terms substantially equivalent to those in the heads of agreement

DAR TRUMP

Dar Global ties up with Trump Organization for luxury resort in Oman

The Trump International Oman will feature a 140-key, 5-star hotel complex that includes an array of luxurious accommodations

UAE raises $1.5bn from 10-year bonds

UAE returns to bond market, raising $1.5bn in 10-year bonds

The debt is rated Aa2, the third-highest investment grade, by Moody’s and one step lower at AA- by Fitch Ratings

SingAuto

SingAuto rolls into UAE with self-driving trucks and EV District in Abu Dhabi

SingAuto’s initiative to build the world’s largest commercial EV industrial district marks a significant step towards a sustainable, innovative, and efficient logistics landscape for the region

Aston Martin Valiant

Aston Martin to start delivery of Alonso-inspired race car Valiant in fourth quarter

Valiant joins the ranks of Valkyrie, Vantage and upcoming mid-engine supercar Valhalla as collectible specials

QatarEnergy 2023 profit drops 32% as gas prices cool

Qatar Energy 2023 profit drops 32% as gas prices cool

The energy firm’s profit was roughly in line with that of oil major Shell

TA’ZIZ, Japan’s Mitsui build ammonia plant in UAE, to start production in 2027

TA’ZIZ, Japan’s Mitsui to build ammonia plant in UAE, production to start 2027

The facility in Abu Dhabi’s Al Ruwais will have the capacity to produce one million tonnes of low-carbon ammonia per year starting in 2027

UAE reportedly considering 10-year golden business licences

UAE: New guidelines for public-private partnerships, Sandbox Conditions regulation

The PPP Manual and the Sandbox Conditions regulation are crucial steps in the UAE’s strategy to build the country’s business ecosystem

Lithium Production Chile

Saudi-backed Almar Water seeks lithium partnership in Chile

Water supply is a major challenge for the lithium industry, following persistent drought in the South American country

Kuwait’s KFH explores Saudi M&A deals in regional expansion drive

Kuwait’s KFH explores Saudi M&A deals in regional expansion drive

The banking group said it was conducting studies on the potential expansion and that these were in line with its strategy envisioning potential investments in the region

HSBC

HSBC chooses UAE to debut its global trading platform

HSBC said its WorldTrader platform connects to 77 exchanges across 25 markets

How Antonovich Group is revolutionising MENA’s turnkey market

Here’s how Antonovich Group is revolutionising MENA’s turnkey market

The group is witnessing a surge in clients demanding personalised, sustainable, and technology-integrated designs

stock markets

Subscriptions open for Chimera JP Morgan Global Sukuk ETF: How to invest

Investors can subscribe to the ETF units, during the offering period, which runs until July 2

Saudi Arabia’s construction output value to hit $181.5bn by 2028

Saudi Arabia’s construction output value to hit $181.5bn by 2028, Knight Frank says

The ongoing transformation is being driven by Vision 2030, which aims to deliver more than 660,000 residential units and over 320,000 hotel keys

DDoS cyberattacks

DDos attacks up 183% in MENA amid geopolitical tensions: StormWall

As the geopolitical situation continues to evolve in the MENA region, the frequency and intensity of DDoS attacks by hacktivists as well as malicious actors, are expected to persist

Abu Dhabi launches first-of-its-kind Family Business Index

Abu Dhabi launches first-of-its-kind Family Business Index

The index will provide a deeper understanding of the role and impact of family businesses on the economy and society

SIEMENS ENERGY

Siemens Energy snags $1.5bn order for two Saudi power plants

The power plants will be operational in a phased approach

ADNOC

ADNOC’s expansion into Europe: 7 landmark deals diversifying its energy operations

ADNOC is striking strategic deals across Europe, as it seeks to diversify, its upstream and downstream operations

KFH plans to acquire a stake in Saudi Investment Bank

Kuwait’s KFH reportedly plans to acquire a stake in Saudi Investment Bank

Deliberations between the two lenders are reportedly ongoing but there is no certainty that they will result in a deal

Dubai Summer Surprises 2024 to kick off with 12-hour mega sale at these malls

Dubai Summer Surprises 2024 to kick off with 12-hour mega sale at these malls

The mega sale will take place on June 28 from 10am until 10pm, with exclusive discounts of up to 90 per cent across more than 100 brands

UAE floods to impact construction projects

Dubai to build Dhs30bn drainage network after record-breaking floods

The Dhs30bn project targets boosting Dubai’s drainage network’s capacity by 700 per cent

GCC’s non-oil sector sees robust growth despite production cuts

GCC’s non-oil sector sees robust growth despite production cuts, ICAEW says

The overall GCC budget position is projected to remain somewhat in surplus this year, driven by robust financial standings and favourable credit ratings

ADNOC revives bid to buy Germany’s Covestro, this time with $12bn offer

ADNOC’s initial informal offer to Covestro was reported in June 2023, but it wasn’t until September last year that the German company entered into open-ended formal discussions

bartawi

Spinneys expands regional footprint with new store in Riyadh

The supermarket chain plans to expand its presence in Saudi Arabia, with up to 12 new stores scheduled to open in the kingdom by 2028

Qatar’s Ooredoo supercharges data centres with NVIDIA AI tech

Qatar’s Ooredoo supercharges data centres with NVIDIA AI tech

The initiative is expected to drive economic growth, job creation, and technological innovation across the region

Humidity rises, visibility falls: What’s driving the UAE’s weather this week

UAE weather: Conditions fluctuate with fog, hail storm and 50 degrees C high

This is the second time in a week, that temperatures in the UAE, neared the 50 degrees C mark.

Expats in Oman rejoice: Resident card validity extended

Oman announces plans for a multi-million dollar ‘Film City’

The ‘Film City’ project, aims to generate substantial employment opportunities, with plans to create over 100 jobs for Omanis in its first year

Aramco Yasir Al-Rumayyan

Saudi Aramco chairman reappointed independent director on Reliance Industries board

Saudi Aramco’s chairman Yasir Al Rumayyan, who heads Saudi Arabia’s Public Investment Fund, was initially appointed to RIL’s board in 2021 for a three-year term

UGANDA-KIDEPO-NATL-PARK

Uganda, Sharjah sign deal to build new airport at Kidepo National Park

Construction will start in August, said Abdallah Sultan Al Owais, chairman of the Sharjah business body

RedBird - A logo of The Daily Telegraph newspaper on a newsstand in London, UK, on Tuesday, March 12, 2024. Rupert Murdoch’s News Corp. and the publisher of the UK’s Daily Mail tabloid are weighing an offer for the company that owns the Telegraph newspaper and Spectator magazine, alongside United Arab Emirates-backed investment fund RedBird IMI, people familiar with the matter said. Photographer: Jose Sarmento Matos/Bloomberg

RedBird IMI opens bids for its sale of UK’s Telegraph newspaper

RedBird IMI’s sale of the titles is expected to conclude later this year