Britain’s Rolls – Royce is in advanced talks to sell its Norweigian maritime engine – maker Bergen to UK – based engineering group Langley Holdings, a source close to the matter said, ensuring a disposal plan continues to progress. Rolls – Royce is aiming to raise 2 billion pounds from disposals by 2022 as part … More Rolls – Royce To Sell Norweigian Engine Unit To UK’s Langley Holdings
The United Arab Emirates and China agreed to share intelligence to fight money loundering and terrorism financing, the Financial Intelligence Unit of the UAE central bank said on Tuesday. It said it would exchange information with its counterpart, the China Anti – Money Laundering Monitoring and Analysis Centre, on investigations intro transactions related to money … More UAE, China To Cooperate Against Money Lundering, Terrorism Financing
Most stocks markets in the Gulf rose in early trade on Monday, with banks boosting the Saudi index, while the Abu Dhabi bourse was hit by declines in Etisalat shares. Saudi Arabi’s benchmark index (.TASI) gained 0.5%, with Al Rajhi Bank rising 1.9% and petrochemical firm Saudi Basic Industries was up 1.2%. Al Rajhi Bank … More MIDEAST STOCKS Saudi Gains On Banking Boost; Etisalat Drags Abu Dhabi Lower
Saudi Arabia has suspended the privatisation of the Ras Al Khair desalination and power plant, one of a number of state assets that the government aimed to sell to reduce pressure on capital spending and diversify. revenues away from oil. ‘This decision was made in order to capitalise on knowledge and capacity built in the … More Saudi Arabia Suspends Privatisation Of Desalination And Power Plant
Oil prices fell on Monday as concerns about fuel demand from the spread of COVID-19 variants and floods in China offset expectations of thight supplies though the rest of the year. Brent crude future for September fell 44 cents, or 0.6% to $73.66 a barrel by 0432GMT while U.S. Texas Intermediate crude was at $71.62 … More Oil Prices Fall As Coronavirus, Floods Threaten Demand
Abu Dhabi will reduce business setup fees to 1,000 dirham ($272.27), a 94% reudction from current rates, effective from July 27, as part of efforts to enable the private sector, Abu Dhabi media office said on Sunday. Licence renewal for existing business owners have also been reduced to 1,000 dirham. Federal charges for business set … More Abu Dhabi Reduces Business Setup Fees By 94% From Current Rates – Media Office
NBC’s broadcast on the Tokyo Olympic Games opening ceremony drew 16.7 million viewers, the smallest U.S. television audience for the event in the past 33 years, according to preliminary data from Camcast – owned NBCUniversal on Saturday. Across all platforms, including NBCOlympics.com and the NBC Sports app, 17 million people watched the ceremony, NBCUniversal said in a … More Tokyo Olympics Opening Draws 16.7 Million U.S. TV Viewers, A 33 – Year Low
Key producers of OPEC+ countries have reached a preliminary deal on gradualy oil output until December and extension of their pact until end of 2022, an OPEC+ source told Reuters on Sunday. OPEC+ hold an online meeting later on Sunday.
Saudi Arabia has launched its first – ever scholarship program to sent students who want to study space sciences to renowned universities around the world, the Kingdom’s Space Commission announced on Wednesday. Saudi Arabian male and female students will have the opportunity to study space science is one of the top 30 global universities and … More Saudi Arabia Launches First – Ever Space Science Scholarship Program To 30 Universities
Saudi Arabia said on Wednesday that global airlines industry body IATA had agreed to open a regional headquarters in Riyadh but the industry’s main trade association denied it woul be a regional base in the latest evidence of sensitivities over the status of foreign business representation in the kingdom. The General Authority of Civil Aviation … More Airline Body IATA To Open Saudi Office But Denies It Will Be Regional HQ
