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PIF to use oil platforms to attract tourists through ‘THE RIG.’ project
Saudi Arabia’s Public Investment Fund on Saturday launched “THE RIG.”, first-of-its-kind tourism destination inspired by offshore oil platforms.
Located in the Arabian Gulf, the project will span a combined area of more than 150,000…
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After Alitalia’s demise, ITA airline launches with new look
Italy’s new national airline, ITA Airways, flew its inaugural flights Friday and unveiled its brand and logo, recycling the red, white and green of its Alitalia origins. It tries to chart a new future while competing with low-cost airlines.…
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China looks to lock in US LNG as energy crunch raises concerns
Major Chinese energy companies are in advanced talks with US exporters to secure long-term liquefied natural gas (LNG)supplies, as soaring gas prices and domestic power shortages heighten concerns about the country’s fuel security, several…
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Abu Dhabi’s IHC to IPO subsidiary Multiply this year, CEO says
Abu Dhabi conglomerate International Holding Co. (IHC) plans to list subsidiary Multiply, a holding company that invests in tech-focused businesses, on Abu Dhabi’s main stock market this year, IHC’s chief executive said.
The planned…
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UAE, South Korea agree talks on trade deal
The United Arab Emirates and South Korea on Thursday agreed to start talks on a bilateral trade deal they hope will expand economic opportunities, including cooperation on technology and climate change.
The UAE, as part of a push to…
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London’s newest online grocery delivery app comes from Russia with love
Russia's biggest internet company dispatched its yellow-shirted moped riders to deliver groceries across London on Thursday, the latest newcomer to launch in a crowded sector that is forcing Britain's traditional groceries to revamp their…
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French firm Thales bags maintenance order for Dubai train line
French aerospace and defense provider Thales has signed a contract to maintain some signaling and communications equipment of Dubai Metro.
The contract was awarded by French-Japanese consortium Keolis-MHI, which the Dubai transport…
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Saudi Arabia aims to be among 15 top global economies with $7tr plan
Saudi Arabia's Crown Prince Mohammed bin Salman on Monday said that the Saudi economy is expected to get SR27 trillion in government spending and investments by 2030 as the Kingdom plans to be among the top 15 global economies.
The…
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Oil ends week near seven-year high as surging gas prices encourage switching
Natural gas prices in Europe equivalent to $200 a barrel of crude are pushing more power producers to burn oil instead.
Gas-to-oil switching helped crude oil prices add about 4 percent last week. Brent crude closed at $82.39 a barrel on…
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Global tax deal seeks to end havens, criticized for ‘no teeth’
A group of 136 countries on Friday set a minimum global tax rate of 15 percent for big companies and sought to make it harder for them to avoid taxation in a landmark deal that US President Joe Biden said levelled the playing field.
The…
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