News

RIYADH / Reuters US and Saudi Arabian companies signed business deals worth tens of billions of dollars on Saturday during a visit by President Donald Trump, as Riyadh seeks help to develop its economy beyond oil. National oil firm Saudi Aramco said it signed $50 billion of agreements with US firms. Energy minister Khalid al-Falih said deals involving all companies ...

Abu dhabi / WAM Mubadala Investment Company, the Abu Dhabi strategic investment fund, confirmed that it has made a US$15 billion commitment to the Softbank Vision Fund, a major technology and innovation focused fund, alongside a consortium of leading investors. The investors are joining forces to create value from the significant wave of technological change and innovation that is transforming ...

Bloomberg OPEC officials gathering in Vienna to prepare for next week’s ministerial meeting kept their focus on rising US shale oil production, which has been diluting price impact of production cuts. National representatives from the OPEC and officials from several non-members heard a presentation on the outlook for the US industry from Roger Diwan, a Washington-based analyst at IHS Markit ...

Jordan / Emirates Business During World Economic Forum on Middle East and North Africa, global digital transformation enabler SAP announced it will build skills and knowledge among young talents worth $100mn by 2022. The program is centered on public-private partnerships driving economic growth in MENA. Cloud, analytics, mobility, and social media skills are posting double or triple digital growth in ...

Sharjah / WAM The Sharjah National Oil Corporation (SNOC), and the Sharjah Electricity and Water Authority (SEWA), have signed a full gas sales agreement, GSA, targeting the supply of natural gas for power generation in the emirate of Sharjah. The agreement was signed by Sheikh Sultan bin Ahmed Al Qasimi, Deputy Chairman of the Sharjah Petroleum Council and President of ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai in his capacity as Ruler of Dubai, ordered the payment of a bonus amounting to AED33.285 million to Emirati citizens whose taxicab number plates are operated by the Dubai Taxi Corporation and Taxi Franchise Companies at the Roads and ...

Dubai / WAM Dubai Customs signed a memorandum of understanding with the Expo 2020 office that aims at developing means of cooperation between the two sides. As per the agreement, Dubai Customs has become the newest official sponsor of Expo 2020 Dubai and will participate in promoting the exhibition’s brands in different publications and media channels. Khalil Saqer bin Gharib, ...

Beirut / WAM In the spirit of the ‘Year of Giving’ initiative, launched by President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the Khalifa Foundation is financing 32 development projects in a number of remote Lebanese areas hosting scores of Syrian refugees. Ahmed Saeed Sultan Al Shamsi, UAE Ambassador to Lebanon, who was accompanied by Mou’een el-Meherbi, Representative of ...

Sharjah / WAM The World Economic Forum (WEF) on the Middle East and North Africa (MENA), which is taking place at the Dead Sea in Jordan from May 19-21 under the theme “Enabling a Generational Transformation,” brings together over 1,000 government, business and civil society leaders from more than 50 countries. Participants also include 235 women leaders from across the Middle ...

Dubai / Emirates Business The ‘Wannacry’ ransomware attack, which has now affected more than 200,000 computers in over 150 countries since originally infecting users’ files on Friday, 12 May, will be a hot topic on the main conference floor and in the corridors of the Dubai World Trade Centre (DWTC) when the 4th Gulf Information Security Exhibition and Conference (GISEC) ...