Browsing: Business

Aramco has signed a deal with a consortium led by EIG Global Energy Partners (EIG), one of the world’s leading energy infrastructure investors, to optimize its assets through a lease-and-lease-back agreement involving its stabilised crude oil pipeline network. Upon closing, Aramco will receive upfront proceeds of around US$12.4 billion, further strengthening its balance sheet through one of the largest energy infrastructure deals globally. The transaction represents a continuation of Aramco’s strategy to unlock the potential of its asset base and maximize value for its shareholders. It also reinforces Aramco’s role as a catalyst for attracting significant foreign investment into the…

Aldar Investment announced an AED 500 million redevelopment plan for Yas Mall to reinforce the asset’s position as the centerpiece of Yas Island, Abu Dhabi’s fast-growing residential and leisure destination. The substantial investment will enhance the customer journey by reimagining the mall’s spaces and introducing new innovative retail concepts. The redevelopment will further enable Aldar Investment to deliver a unique and diversified offering to tenants and customers by repurposing 40 percent of its gross leasable area to high impact experiential retail, F&B, and co-working office spaces. Work on key areas of the mall is already underway and will be completed…

DMCC – the flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has entered into a memorandum of understanding (MoU) with the Securities and Commodities Authority (SCA) to establish a regulatory framework for businesses offering, issuing, listing, and trading crypto assets in DMCC. The agreement will see businesses dealing with crypto assets gain access to bespoke licenses offered by the DMCC Crypto Centre, first-class customer service, a range of incentives, and the strong business regulatory framework developed by DMCC.Working closely with DMCC’s on-boarding teams, the SCA will issue approvals for crypto-related businesses looking to set…

The MENA Oil and Gas Technology Summit, a one day virtual event hosted by MEED, will take place on Wednesday, 24 March 2021, bringing together stakeholders from National Oil Companies, large end users and utilities companies to explore topics including digitalization, automation, cybersecurity and asset integrity within the region’s oil and gas sector.The oil and gas industry is currently witnessing global oil price volatility coupled with an increasing emphasis on operating more sustainably. A forecast by the International Monetary Fund’s (IMF) expects the GCC’s GDP growth to return to pre-COVID-19 levels only in 2023 – citing weak oil demand, aggravated…

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, launched the Industrial Strategy Operation 300 billion. The 10-year comprehensive strategy aims to empower and expand the industrial sector to become the driving force of a sustainable national economy, increasing its contribution to the GDP from the current AED133 billion to AED300 billion by 2031. Leading the strategy, the Ministry of Industry and Advanced Technology will roll out programs and initiatives to support 13,500 industrial small and medium enterprises (SMEs).Focusing primarily on future industries that implement advanced technology and the Fourth…

EHang Holdings Limited, the world’s leading autonomous aerial vehicle (AAV) technology platform company, announced a partnership with an Italian architecture firm Giancarlo Zema Design Group (GZDG) to extend its air mobility solutions in the EU. With EHang’s passenger-grade AAV technologies and air mobility solutions, GZDG has designed and will build an eco-sustainable vertiport in Italy.The vertiport will use green design and construction materials, and can generate energy to recharge the EH216 passenger-grade AAVs. Vertiports will play a significant role in the Urban Air Mobility (UAM) market and the new era of flight. When integrated into the existing transportation infrastructure, vertiports…

Zynga Inc, a global leader in interactive entertainment, announced that it has acquired Echtra Games, a cross-platform game studio composed of a development team whose core members have previously shaped the world of action role-playing games through their work on genre-defining titles including Diablo, Diablo II, the Torchlight franchise and more.The Echtra Games team strengthens Zynga’s cross-platform play future by adding talented developers with extensive cross-platform play experience as well as proprietary cross-platform development tools and technologies that have been built on top of the Unreal Engine. Specifically, the Echtra Games team will be developing a new, yet to be…

FedEx Corp, one of the world’s largest cargo airline, announced an ambitious goal to achieve carbon-neutral operations globally by 2040. To help reach this goal, FedEx is designating more than $2 billion of initial investment in three key areas: vehicle electrification, sustainable energy, and carbon sequestration.This includes a pledge of $100 million to Yale University to help establish the Yale Center for Natural Carbon Capture, accelerating research into methods of carbon sequestration at scale, with an initial focus on helping to offset greenhouse gas emissions equivalent to current airline emissions.By 2040, the entire FedEx parcel pickup and delivery (PUD) fleet…

DP World, the leading provider of smart supply chain logistics, alongside its partner Caisse de dépôt et placement du Québec (CDPQ), a global investment group, today signed a long-term agreement with Indonesia’s leading conglomerate Maspion Group to start the construction of an international container port and industrial logistics park in Gresik. Work on the projects is expected to begin in the third quarter of 2021, with a total investment of up to USD 1.2 billion, enhancing East Java’s position as a key trade gateway for Indonesia.The signing ceremony was held in the presence of the Coordinating Minister for Maritime and…

A latest market research report titled “Content Marketing Market by Objective (Lead Generation, Brand Awareness, Thought Leadership, And Others), Platform (Blogging, Videos, Infographics, Case Studies, And Others), End-user (Retail, Automotive, Financial Services, Telecom, And Others), and Geography APAC, Europe, MEA, North America, and South America)- Forecast and Analysis 2020-2024, published by Technavio forecasts the market to reach USD 269.24 billion by 2024, at a CAGR of 13% during the forecast period.Rising number of mobile device users and growing use of content marketing by companies for brand building will boost the market growth. The focus of companies toward building brand awareness…