Browsing: Business

As a result of rising oil prices, the increase in production in Arab oil-exporting countries, and continuing reforms that promote growth, the Arab countries are expected to grow at 5.4 percent in 2022, according to the Seventeenth Edition of the

A broad selection of US stocks was purchased by Saudi Arabia’s Public Investment Fund (PIF), bringing its investment portfolio’s value to about $40.8 billion at the end of the second quarter. According to a US Securities and Exchange Commission filing,

By handling 188,578 TEUs during June 2022, the King Abdulaziz Port in Dammam, managed and operated by Saudi Global Ports (SGP), broke its own record set in 2015. In line with the National Transport and Logistics Strategy (NTLS)’s objectives of

In order to achieve the current financial year’s agro export target of over $23 billion, the Indian Commerce and Industry Ministry has developed an outreach strategy for agro exports. Three hundred events will be organized under the plan to boost

In the first half of 2022, Abu Dhabi’s non-oil foreign trade totaled about AED124 billion, an increase of 12% over AED110 billion and 313 million recorded in the same period in 2020 according to Abu Dhabi Customs. Exports increased by

Through its subsidiary International Energy Holding, International Holding Company (IHC) has acquired a 50% stake in Turkish clean energy market leader Kalyon Enerji for AED1.8 billion. The Turkish company Kalyon Enerji is owned by Kalyon Holding, which operates in the

In order to drive offshore operational efficiency and expand crude oil production capacity to five million barrels per day (mmbpd) by 2030, Abu Dhabi National Oil Company (ADNOC) has agreed to pay $1.17 billion (AED4.3 billion) for the hiring of

Sultan bin Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development (SFD), received a delegation from the Republic of Chad today led by Issa Dobran, the Chadian President’s Advisor. Zakaria Fadel Kater, Ambassador to the Kingdom of Saudi Arabia, also

Egypt’s planning ministry announced on Wednesday that the Saudi Egyptian Investment Company (SEIC), established by the Saudi Arabian Public Investment Fund (PIF), has purchased minority stakes in four Egyptian companies valued at approximately $1.3 billion. Among these four companies are

In response to Nigerian President Muhammadu Buhari’s approval of the $1.28 billion sale of shares in Exxon Mobil’s Nigerian unit to Seplat, Nigeria’s petroleum regulator said it stood by its refusal to approve the deal. Under a newly enacted petroleum