Aramco buys 70% of SABIC for $69.1 billion

Dubai: Oil giant signed a deal last year with Saudi Arabia’s sovereign wealth fund, the PIF. Saudi Aramco purchased 2.1 billion shares, or 70 per cent, of Saudi Basic Industries Corp (SABIC) for 259 billion riyals ($69.1 billion) in four special transactions on Sunday..... Read more »

Posted on : 6/14/2020

Businesses In The UAE Are Expanding Their Africa Focus

Dubai’s ongoing efforts to enhance its position as a gateway to African markets have played a crucial role in building new bridges of economic cooperation..... Read more »

Posted on : 3/11/2020

UAE Introduced New Investment & Development Drive For Africa

The UAE Minister for International Cooperation, Her Excellency Reem Al Hashimy said, "the Consortium would align the UAE government and its private sector’s commitment to Africa, combining aspiration for progress and resources to support it, into one focused entity to assist development and investment, contributing to a promising new future vision for Africa and Africans..... Read more »

Posted on : 3/11/2020

USD 500 million commitment in UAE's Consortium for Africa to support youth, digitization, and business growth

The Consortium for Africa is the new approach of UAE to uplift the African continent. The initiative has unveiled in a summit with a committed investment of USD 500 million to help fulfill the vision of a turbocharged and connected Africa, driven by youth with a mission of nurturing and making the full use of youth powers in Africa..... Read more »

Posted on : 3/3/2020

Fujairah Oil Stocks Bumps up to New Heights on Gains in all Categories

Inventories rose 13 per cent week on week to 25.98 million barrels as of last week, beating the previous all-time high of 25.749 million on April 29, 2019, data Wednesday from the Fujairah Oil Industry Zone showed. Stock reporting in Fujairah began at the start of 2017..... Read more »

Posted on : 3/3/2020

Saudi's Al Kifah and Spain's Grupotec Signed Agreement to Advance Renewable Energy

Al Kifah Holding has endorsed an agreement with Spanish multidisciplinary engineering and architecture company, Grupotec, to supply solar power for Saudi Arabia's industrial and commercial sectors, as well as to develop large scale solar projects..... Read more »

Posted on : 3/3/2020

UAE Food Security Office Announced The Launch Of The Food Research Platform

UAE launches region's new food research platform which is a first-of-its-kind in the region, with the new portal now accessible on the official website of the office. The launch corresponds with the UAE Innovation Month 2020, which, this year, bears the theme, "The UAE Innovates in Preparation for the Next 50 Years"..... Read more »

Posted on : 3/2/2020

African countries and UAE tied to improve relationships for developing trade and increasing prosperity

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has recently stated in a meeting that UAE has prioritized its relationships with African countries based on common interest and mutual respect to achieve development, prosperity, and progress in both the countries..... Read more »

Posted on : 3/2/2020

UAE Aims To Reach 50 Per Cent Decrease In Food Wastage By 2030

At present, UAE is ranked 21st and it aims to join top 10 countries in Global Food Security Index by 2021 and 1st by 2051. The UAE imports 90 per cent of food, hence, food safety and security standards are the top priority..... Read more »

Posted on : 3/2/2020

ARO Drilling Powers Offshore Rig Cracks a Deal with IFS Applications

ARO Drilling, an offshore drilling contractor that owns, operates and manages a fleet of premium jack-up rigs in Saudi Arabia, has signed a deal with global enterprise applications company IFS to deploy its key solutions to unify mission-critical business processes across its headquarters and fleet of 16 offshore drilling rigs..... Read more »

Posted on : 3/2/2020