ConocoPhillips wins stake in QatarEnergy’s NFS expansion project

ConocoPhillips will take a 6.25 per cent stake in the project, out of a 25 per cent interest available for international partners

Saudi Arabia

Saudi net reserves surge near $449bn, highest since 2020

The stockpile grew by SAR36.8bn from the previous month in the biggest increase since June

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Qatar in talks with TotalEnergies for stake in Lebanon gas block

The company is also in talks with the Lebanese government regarding the offshore gas block

Empower reports robust growth of 41.3%

Dubai seeks to raise $362m from district cooling firm IPO

Empower will start taking investor orders for the IPO from Monday, with final pricing scheduled for November 9

Saudi Arabia announces 5 mining exploration opportunities

Saudi Arabia announces five new mining exploration opportunities

The kingdom is looking to leverage an estimated $1.3tn worth of vastly underexplored metals and minerals to support its sustainable development goals and the clean energy transition

Alpha Dhabi reports nine-month results for 2022

Alpha Dhabi announces net profit of Dhs9bn for first nine months of the year

The holding company’s revenues also grew significantly, standing at Dhs26.6bn, which represents a year-on-year increase of 133 per cent

Trading recycled plastic through Rebound Plastic Exchange

How trading recycled plastics will help build a sustainable future

To enable global circularity, UAE-based Rebound has launched a global B2B digital trading platform for recycled plastic

Abu Dhabi Airports

Abu Dhabi Airports unveils new brand identity

The new corporate identity underpins future growth plans for the airports operator

Dubai’s DFSA signs MoU with Bangladesh Securities and Exchange Commission

The agreement provides a framework for facilitating cross-border collaboration between the two authorities on supervision and enforcement actions

Borouge

Abu Dhabi’s Borouge reports 13.5% rise in nine-month revenue

The company’s revenue for the three months ending September 30, grew 8 percent year-on-year to equal $1.67bn

Oman offers visa-free entry to GCC residents

In order to enter Oman, a resident’s visa in the GCC must be valid for a period of no less than three months

Masdar inaugurates new office in Saudi Arabia to expand presence

Masdar inaugurates new office in Saudi Arabia to expand presence

Masdar aims to add to existing projects in the kingdom, including a 400MW wind farm and a 300MW solar power plant

Habib Bank AG Zurich opens branch in DIFC to expand footprint

Habib Bank AG Zurich opens branch in DIFC to expand footprint

The new branch will offer clients a Swiss platform, with a focus on wealth preservation and legacy planning

Haider Khan, head of EMPG MENA

Dubai-based EMPG, which owns Bayut & dubizzle, raises $200m in funding

The funding round was led by US-based growth equity fund Affinity Partners, with new funding from KCK, Acacia Partners

UAE and Austria sign energy partnership

UAE and Austria sign energy partnership

The partnership will focus on projects of mutual interest in refined products, liquefied natural gas, renewables and hydrogen

Dubai Fitness Challenge

A complete guide to Dubai Fitness Challenge 2022

The challenge, which starts on October 29, encourages residents and visitors to adopt a more healthier and active lifestyle by exercising 30 minutes daily for 30 days

Dubai Financial Market Company

Dubai Financial Market Company posts 133% rise in net profit for nine-month period

The company’s total revenue reached Dhs237.8m during the first nine months of the year

First Etihad Airways flight using SAF departs Tokyo

Flight EY871 departed Tokyo Narita airport at 3pm on Thursday, October 27

Saudi finance chief says economy more resilient to global shocks

The kingdom has its lowest unemployment rate in two decades and has managed to keep inflation at 3 per cent

Saudia to purchase 100 electric jets in sustainability push

Saudia to purchase 100 electric jets in sustainability push

With zero operating emissions, the Lilium jets will enable sustainable and time-saving travel

Emirates NBD

Emirates NBD reports 25% rise in net profit for first nine months of 2022

The lender posted total income of Dhs22.7bn, rising 31 per cent year-on-year

National Bank of Fujairah posts 155.1% rise in nine-month net profit

National Bank of Fujairah posts 155.1% rise in nine-month net profit

The lender posted an operating profit of Dhs932.5m for the first nine months of the year, marking a 25.1 per cent rise compared to the previous year

Global cybersecurity Forum

Saudi Telecom doubles down on Ex-Google executive’s tech firm

Interest in the technology industry in the Middle East has increased the past few years as governments seek to diversify their economies

Qatar

Qatar scraps Covid-19 test requirements for inbound visitors ahead of World Cup

Visitors are no longer required to present a negative Covid-19 PCR or Rapid Antigen Test result before travelling to Qatar

Emirates NBD announced 6th edition of annual Unity Run

Emirates NBD announces sixth edition of annual Unity Run

UAE’s leading community run for inclusion of people of determination will take place on Saturday, November 19 in Dubai Design District

Saudi's PIF to establish 5 companies to pursue investments

Saudi’s PIF to establish five companies to pursue investments in Bahrain, Oman, other countries

The announcement follows the launch of the Saudi Egyptian Investment Company in August

Former Abraaj COO reaches settlement with Dubai’s DFSA

Former Abraaj COO reaches settlement with Dubai’s DFSA

Waqar Siddique has withdrawn his Financial Markets Tribunal review and will not contest the regulator’s findings

Global Village opens, adds two new pavilions and more experiences

Dubai’s Global Village opens, ticket prices start at Dhs18

More than 175 rides, games and attractions are also available for guests to enjoy, including the new Global Village Big Balloon

First Abu Dhabi Bank reports 19% rise in nine-month net profit

The bank’s total income for the first nine months of the year stood at Dhs18bn, up 13 per cent year-on-year over the previous year

ADIB reports highest quarterly net profit for Q3 2022

ADIB reports highest quarterly net profit for Q3 2022, crossing Dhs1bn

The bank registered Dhs2.45bn in net profit for the first nine months of 2022