Browsing: Business

Abu Dhabi National Oil Company (ADNOC) announced it has awarded framework agreements valued at $658 million (AED2.4 billion) for cementing services as part of its effort to expand its drilling capacity and enable drilling growth. Following a competitive tender process, framework agreements were awarded to Haliburton Worldwide Limited Abu Dhabi (Halliburton), Baker Middle East (Baker), Emirates Western Oil Well Drilling & Maintenance Co. (Emirates Western), NESR Energy Services (NESR) and Emjel Oil Field Services (Emjel). ADNOC’s onshore and offshore fields will be covered by these contracts, which will run for a period of five years and be renewable. As part…

William Hurt, who rose to fame in the 1980s with a number of hits such as Kiss of the Spider Woman and The Big Chill and Body Heat, died Sunday from natural causes at his home in Portland Oregon. The news of 71-year-old Hurt’s death was confirmed to the media by his son. His son Will said in a statement, “It is with great sadness that the Hurt family mourns the passing of William Hurt, beloved father and Oscar winning actor, on March 13, 2022, one week before his 72nd birthday. He died peacefully, among family, of natural causes.” With…

The Minister of Climate Change and the Environment, Mariam Bint Mohammed Almheiri, visited the Vietnam Pavilion at Expo 2020 Dubai. Almheiri learned about the country’s approach to leverage its large population in achieving sustainable socioeconomic development, as it’s the third most populous geographical region in Southeast Asia and the fifteenth globally. During the presentation, she heard an overview of the country’s digital transformation efforts, which began two years ago. Vietnamese government’s digital transformation has advanced much in recent years. According to the United Nations’ e-government development index for 2020, Vietnam ranked 86 out of 193 countries, and is currently aiming…

On the first day of the World Defense Show that was held in Riyadh, Kingdom of Saudi Arabia, EDGE Group company AL JASOOR, the UAE’s armored vehicle specialist, unveiled the new Rabdan ambulance, a variant of the 8×8 infantry fighting vehicle (IFV) Rabdan. Military medics on ambulatory missions in high-risk environments will be provided with off-road mobility and mine-resistant, ambush-protected (MRAP)-level protection in the new configuration. “The Rabdan ambulance vehicle combines best-in-class off-road capability with life-saving crew protection technology for urgent medical care in terrains too harsh for regular ambulances. Additionally, its innovative design protects passengers on operations in high-risk…

The Minister of State for Defence Affairs, Mohammed bin Ahmed Al Bowardi, led a delegation of senior officials and officers from the Ministry of Defence to the first edition of the World Defence Show, held in Riyadh. Saudi Arabia’s General Authority for Military Industries (GAMI) organizes the World Defence Show every two years, showcasing the latest technological advances from across the globe, demonstrating defence interoperability across all major domains – air, land, sea, space, and security. Al Bowardi toured the exhibition and visited the pavilions of the United Arab Emirates and Saudi Arabia. A briefing on the latest exhibits was…

Chairman of the Capital Market Authority (CMA), Shaikh Abdullah Salem al Salmi, approved on Thursday the licensing of the first crowdfunding platform operator in the Sultanate of Oman, Ethis Investment Platform LLC. It is the first Islamic global crowdfunding platform to operate in Oman. A nod from the Authority is the first since the new Crowdfunding Platform Rules were issued on November 21, 2021. CMA has attracted overwhelming interest from international as well as local crowdfunding fintech players since it has been made very facilitative and allows cross-border investing. As part of the new regulation, the CMA will be regulating…

The leading real estate developer in Sharjah, Alef Group, has launched its new project, Hayyan under the theme Making Homes Human. With an estimated value of AED3.5 billion, the project covers 8.7 million square feet, embodying the spirit of Sharjah, with a total of 1,836 villa units spread out over three distinct zones. The project should be completed by the second half of 2025. The first area of the project is divided into three different phases. The project’s first phase will see the delivery of 268 villas in the vibrant Aryam neighborhood designed to the highest standards, which includes a…

His Highness Sheikh Mansour bin Zayed Al Nahyan, the UAE’s Deputy Prime Minister, Minister of Presidential Affairs, and Chairman of the Central Bank of the UAE (CBUAE), presided today over a meeting of the board in Qasr Al Watan. Sheikh Mansour welcomed the participants and thanked the UAE Central Bank for its efforts to support financial stability in the banking sector. During the meeting, Sheikh Mansour was informed about the progress of the implementation of plans, which align with the future economic strategies of the country aimed at achieving digital inclusion and green finance. By the end of 2026, the…

The Kingdom of Saudi Arabia’s overall merchandise exports increased 62.6% in December 2021 compared to December 2020, when many countries imposed travel bans and lockdowns as a result of COVID-19 issues. According to the General Authority for Statistics (GASTAT), exports amounted to SAR 106.3 billion in December 2021, up from SAR 65.3 billion in December 2020. It was mainly due to higher oil exports, which rose by SAR 30.6 billion, or 65.9%, during the same period. The proportion of oil exports in total exports increased from 71.0% in December 2020 to 72.4% in December 2021. There was a decrease of…

Over 30 senior Saudi manufacturers and exporters in the constructions and foodtuff sectors took part in a commercial mission organized by Saudi Exports Development Authority (SAUDI EXPORTS) today in Oman. This mission targets 70 Omani companies and follows the signing of a memorandum of understanding between the two countries worth USD 30 billion with the aim of enhancing cooperation in a variety of economic fields on the sidelines of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz’s official visit to Muscat in December, 2021. Deputy Secretary General for Strategy and Planning at Saudi Exports Abdulrahman Al-Othman said the commercial…