Browsing: Business
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
A definitive agreement has been reached between Mubadala Capital, an asset management subsidiary of Mubadala Investment Company, and Canada Cartage, a leading logistics company. To some of Canada’s largest blue-chip companies in grocery, food, retail, and e-commerce, Canada Cartage provides
According to Ministry of Finance statistics, Abu Dhabi’s public spending in the first quarter of 2022 totaled AED87.4 billion, an increase of 19.6 percent and equivalent to AED14.34 billion over the same period last year. Moreover, the figures showed that
An international buyer-seller meet in Ladakh attended by buyers from Dubai and Oman and buyer-seller meetings in the UAE on agricultural and food products with registered geographical indications (GIs) tags, as well as a mango festival in Bahrain, resulted in
In the wake of the developments in Ukraine, food prices fell for the fourth consecutive month in July, according to the Food and Agricultural Organization (FAO). As expected, the UN agency has published its latest Food Price Index, a barometer
A joint development agreement between Masdar and Tanzania Electric Supply Company Ltd. (TANESCO) has been signed regarding the development of renewable energy projects up to 2 gigawatts (GW). The signing was attended by Hon. January Makamba, Minister for Energy for