Aviation Brazil’s Embraer woos Saudi Arabia for military plane deal Saudi Arabia is in “early engagement” with Brazilian planemaker Embraer over a deal to replace its ageing fleet of military transport aircraft. Embraer is touting its C-390 Millennium transport plane as the ideal replacement for the kingdom’s Lockheed Martin C-130 Hercules aircraft. Embraer Defense & Security’s CEO João Bosco da Costa Junior told reporters: “They […] June 19, 2024
Finance Oman and UAE sign deals worth $35bn The UAE and Oman have announced a host of new commercial and business deals worth a total of AED129 billion ($35 billion). The partnerships were agreed during Monday’s state visit to the Emirates by the ruler of Oman, Sultan Haitham bin Tariq al Said. Investment and collaboration agreements covered areas including renewable energy, green metals, […] April 23, 2024
Employment Jobless rate in Turkey edges back towards 10-year low Turkey’s unemployment rate fell 0.3 percentage points month on month in February, to 8.7 percent, according to official data released on Monday. The seasonally adjusted figure is edging back down towards the 8.6 percent recorded in October last year, the lowest for a decade. The unemployment rate for women was 11.3 percent in February, down […] April 15, 2024
Banking & Finance School operator Taaleem up next in string of Dubai IPOs UAE schools operator Taaleem Holdings is the latest in Dubai’s string of initial public offerings (IPOs) as the emirate continues to open up key state-owned assets for investment. Dubai’s privatisation drive this year to raise revenue and boost investor interest includes the listing of 18 percent of utility company Dewa on the Dubai Financial Market. It […] November 18, 2022
Sustainability Lula arrives at Cop27 to deliver message that ‘Brazil is back’ Bringing the message that “Brazil is back” in the fight against global warming, Luiz Inacio Lula da Silva arrived at Cop27 in Egypt on Tuesday – his first foreign trip since his presidential election victory. Brazil’s president-elect planned to hold meetings with envoys from Washington and Beijing on Tuesday, an aide said, as he seeks […] November 15, 2022
Energy PIF and BlackRock to explore Gulf infrastructure projects Saudi’s sovereign wealth fund PIF and BlackRock, the world’s biggest fund manager, have signed an agreement to jointly explore infrastructure projects in the Middle East. The Public Investment Fund (PIF), which manages more than $600 billion in assets, said its non-binding memorandum of understanding will serve as “the anchor for BlackRock’s Middle East infrastructure strategy”. […] November 14, 2022
Tourism DP World to invest $1.4bn as half year profit goes up 51.8% Dubai-owned DP World, one of the world’s biggest port operators, is planning to spend $1.4 billion on capital expenditure in 2022, as it reported a 51.8 percent rise in profit during the first half of the year. The company reported profit of $721 million for the first six months of 2022, as revenue rose 60.4 […] August 18, 2022
Economy China unclear on report that President Xi is to visit Saudi Arabia A Chinese foreign ministry spokesperson told Reuters on Thursday that he had no information to offer at the moment when asked to comment on a media report that President Xi Jinping will visit Saudi Arabia next week. The Guardian in the UK reported on Thursday that plans are underway in Saudi Arabia for a gala […] August 11, 2022
Economy Saudi crown prince to visit Greece to sign energy, telecoms deals Saudi Crown Prince Mohammed bin Salman will visit Greece on Tuesday, July 26 to meet Prime Minister Kyriakos Mitsotakis, the Greek foreign ministry has confirmed. The ministry said the pair were due to sign bilateral deals, without giving details. A Greek diplomatic source told Reuters the deals were in the fields of energy, military cooperation, […] July 25, 2022
