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ACWA Power inks deals with 6 Italian firms across green hydrogen, water desalination industries
ACWA Power, a prominent player in Saudi Arabia’s energy transition efforts, is set to further its collaborations in the fields of green hydrogen, water desalination, and research and development through a series of newly inked agreements…
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Oman’s refineries and petroleum industries report 13.5% growth in July
In a significant development, Oman’s refinery and petroleum production saw a 13.5 percent uptick at the end of July 2023, according to a report by the country’s National Centre for Statistics and Information.
The data revealed that the…
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MENA startups continue to demonstrate growth with $76m raised in August
Startups in the Middle East and North Africa region continue to attract robust investor interest, showcasing sustained vitality in entrepreneurial activity.
In August 2023, MENA startups raised over $76 million through 18 deals which…
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Saudi Arabia’s trade balance touches $30.12bn surplus in Q2
Saudi Arabia’s trade balance, representing the difference between the nation’s merchandise exports and imports, reached SR113 billion ($30.12 billion) in the second quarter of 2023, as per recently released government data.
According to…
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GCC to pursue free trade agreements to enhance commerce and investments
Gulf Cooperation Council countries are embarking on a strategic mission to boost their foreign trade prospects and attract substantial investments by sealing multiple free trade agreements, according to its secretary-general.
Jasem…
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UAE’s non-oil trade hits record high of $337.6bn in H1
Affirming its economic diversification journey, the UAE achieved an all-time high of 1.13 trillion dirhams ($337.6 billion) in non-oil foreign trade during the first half of 2023, representing a 14.4 percent growth compared to the same…
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ACWA Power’s solar project in Egypt closes $123m financing
Saudi energy firm ACWA Power reached financial close for $123 million to develop the 200-megawatt Kom Ombo utility-scale solar project plant in Egypt.
This move further underscored the confidence that major institutions have in ACWA…
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China’s factory activity shrinks for 5th month, maintains pressure for policy support
China’s manufacturing activity contracted for a fifth straight month in August, an official survey showed on Thursday, maintaining pressure on officials to provide support to shore up economic growth amid soft demand both at home and…
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King Abdullah Port receives largest container ship for the 2nd time
Saudi Arabia’s King Abdullah Port has received the world’s largest container ship, MSC Irina, with a capacity of 24,346 twenty-foot equivalent units for the second time.
It received the MSC Irina for the first time in May 2023.
The…
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BP to invest $3.5bn in Egyptian oil and gas sector over next 3 years
Egypt will receive a $3.5 billion investment from British multinational oil and gas company BP over the next three years, according to Egyptian President Abdel Fattah El-Sisi.
The announcement came after a meeting between El-Sisi and BP…
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