Business & Money | Saturday 31 May, 2025 8:18 am

Upgrade of 30% of Saudi plants to generate SAR 250B returns: Official

Khalil Salamah, Vice Minister of Industry Affairs, said the upgrade of 30% of Saudi Arabia’s factories will generate an economic return of up to SAR 250 billion, Al-Eqtisadiah newspaper reported.   He added that the upgrade requires significant financial investments, noting that...

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Government | Saturday 31 May, 2025 8:14 am

Digital economy accounts for 15.6% of Saudi GDP in 2023: GASTAT

The digital economy accounted for 15.6% of Saudi Arabia's GDP in 2023, marking a 1.6% increase compared to 2022, according to the Digital Economy Statistics Bulletin 2023 issued recently by the General Authority for Statistics (GASTAT). As for the structure of the digital economy, the core...

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Business & Money | Saturday 31 May, 2025 5:23 am

Hong Kong aims to deepen partnership with Saudi Arabia: Minister

Hong Kong finance chief Paul Chan said the city seeks to strengthen its partnerships with the Middle East, especially Saudi Arabia. During his participation in the Capital Markets Forum, attended by Argaam, Chan referred to growing cooperation with Riyadh, Abu Dhabi, and Dubai in the fields of ...

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Business & Money | Thursday 29 May, 2025 12:55 pm

Al Fanar Gas Group, Siemens Energy sign strategic MoU to collaborate on clean energy, decarbonisation

Al Fanar Gas Group, the energy arm of EHC Investment, has signed a strategic Memorandum of Understanding (MoU) with Siemens Energy, to jointly advance decarbonisation and clean energy innovation across the UAE. The agreement, signed on the sidelines of the World Utilities Congress 2025 in Abu...

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Business & Money | Thursday 29 May, 2025 12:46 pm

Mubadala, TAQA complete transaction for purchase of power plant in Uzbekistan

Mubadala, the Abu Dhabi sovereign investor, and Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities in Europe, the Middle East and Africa, have completed the acquisition of a gas-fired power generation plant at the Talimarjan Power Complex in...

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Business & Money | Thursday 29 May, 2025 12:44 pm

UAE, EU continue talks on Comprehensive Economic Partnership Agreement

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, welcomed Maroš Šefčovič, EU Commissioner for Trade and Economic Security, to the UAE for ongoing talks regarding the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the EU. The visit also included...

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Business & Money | Thursday 29 May, 2025 12:42 pm

Ferrero Rocher and Raffaello Tablets Outperform in Groundbreaking Indulgence Study

Dubai, UAE — As part of their regional launch in the GCC, Ferrero Rocher and Raffaello Tablets, brands synonymous with indulgence, have taken a bold step into the world of science to redefine how we experience indulgence. Their mission? To measure indulgence in numbers, delivering tangible proof...

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Business & Money | Thursday 29 May, 2025 12:40 pm

ADNOC Drilling partners with SLB in Kuwait, Oman land drilling rigs business

ADNOC Drilling Company announced today that it has signed an agreement to acquire a 70% stake in SLB's land drilling rigs business in Kuwait and Oman, comprising eight fully operational land rigs under contract with the respective national oil companies (NOCs) of both countries. Abdulrahman...

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Business & Money | Thursday 29 May, 2025 12:06 pm

Dubai Chamber of Commerce organises 180 bilateral business meetings in Manila

Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has successfully organised 180 bilateral business meetings between companies from Dubai and their counterparts in the Philippines. The meetings in Manila marked the first stop of the...

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Business & Money | Thursday 29 May, 2025 12:03 pm

UAE, France explore cooperation in hydrogen, nuclear energy

A UAE delegation wrapped up a three-day visit to France, where they discussed opportunities for cooperation and exchanged best practices with key French stakeholders to leverage innovative ways to approach upcoming challenges of the energy transition. The visit was part of the UAE’s efforts...

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