Thursday 23 March 2023

Hutchison announces $700m investment in Egyptian ports

Hutchison Ports, the global port operator, has announced a $700 million investment in two major Egyptian port  projects - Ain Sokhna, the country's top port, and B100, a new container terminal in Alexandria - thus bringing its total investment in the Arab nation to over $1.5 billion.


EDGE entity named UAE channel partner for Bharat Dynamics

EDGE Group said it key entity Gradeone has been appointed as an official channel partner of India’s Bharat Dynamics Limited (BDL) in the UAE market.   A defence trading specialist, Gradeone is involved in manufacturing of non-lethal pyrotechnics, ammunitio


Cummins Arabia, OWS collaborate to develop solutions for defence

Cummins Arabia, a global power technology leader, has signed a MoU with OWS Automotive for joint collaboration on defence service applications.    This collaboration follows the participation of both firms at IDEX 2023 in Abu Dhabi and aims to exp


Taqa sets new dividend policy for 2023-2025; special payout

Abu Dhabi National Energy Company’s (Taqa) shareholders have approved a new dividend policy for 2023-25 based on a combination of fixed and variable dividends at the firm’s Annual General Assembly.   Under the new policy, the company expects to pay a


UAE's minerals sector set to hit $10bn by 2025, say experts

In the backdrop of the accelerated energy transition to achieve Net Zero goal by 2050 as well as the exponential growth in infrastructure development and construction activities in UAE, the minerals and metals industry is estimated to grow at a rate of over 3 per cent, hitting $10 billion by


Three Bell 505 helicopters delivered to Bahrain

Bell Textron, a Textron company, announced the delivery of three Bell 505 helicopters to the Royal Bahrain Air Force. Bell delivered the aircraft during an inspection and acceptance event in February 2023 at Bell’s Mirabel facility.   “We are honoure


Mideast's first biocomputing lab to come up at Masdar City

Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has signed a MoU with BioMap to establish a biocomputing innovation research laboratory within its campus at Masdar City.   The laboratory, which is the first of its kind i


GCC economies to see slower growth in 2023: ICAEW

The pace of GDP growth in the GCC is expected to more than halve to 2.8% this year, from 7.5% last year as energy output growth slows and high inflation and greater borrowing costs weigh on demand and economic activity, a report said. The latest Economic Insight report for the Gu


Saudi investment in industrial sector soars to $380 trillion

Saudi Arabia’s total volume of investments in the industrial sector reached SR1,428 trillion ($xx) in December 2022, with a total of 10,518 factories in operation, according to the latest data released by the Kingdom’s Ministry of Industry and Mineral Resources. The numbe


Saudi Taqa, Reykjavik to set up new geothermal energy venture

Saudi industrialisation and energy services company Taqa has joined hands with Reykjavik Geothermal to launch its new venture that will develop geothermal resources for the region and further contribute to its green initiatives' decarbonisation targets.   He

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