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Tuesday June 18, 2019
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June 18, 2019
Saudi Arabia gets first hydrogen fueling station
DHAHRAN — Saudi Aramco and Air Products on Tuesday inaugurated the first hydrogen fueling station in Saudi Arabia at Air Products’ new Technology Center in the Dhahran Techno Valley Science Park.The pilot station will fuel an initial fleet of six Toyota Mirai fuel cell electric vehicles with high-purity compressed hydrogen.The announcement comes amid growing international recognition of hydrogen’s benefits.A report released last week by the International Energy Agency (IEA) concludes ...
June 17, 2019
Saudi, Japan sign strategic pacts to boost development
TOKYO – Several agreements and memoranda of understanding were signed by the Saudi and Japanese sides during the third ministerial level meeting and the Saudi-Japan Vision 2030 Business Forum held on Monday in the Japanese capital Tokyo. More than 20 Saudi government and private departments and agencies met with their Japanese counterparts during the meetings.The Saudi delegation, headed by Minister of Economy and Planning Mohammed Al-Tuwaijri, is comprised of Minister ...
June 17, 2019
Drahi snaps up Sotheby's in $3.7 billion deal
PARIS/BOSTON — Patrick Drahi, the billionaire behind telecoms and media group Altice , agreed on Monday to buy Sotheby's in a deal worth $3.7 billion, marking the storied art auction house's return to private ownership after 31 years.The acquisition will allow avid art collector Drahi to join rival French billionaire Francois Pinault at the top of the art world and New York society, with Pinault's holding company Artemis owning a ...
June 17, 2019
Dollar slips, rate cut bets ease ahead of Fed meeting
NEW YORK — US dollar was modestly lower on Monday on weak economic data, but remained near the two-week high set earlier in the session as investors reconsidered how dovish the Federal Reserve is likely to be at this week's policy meeting.Broader currency markets were quiet, as traders hesitated to put on large positions before the Fed's two-day meeting, a meeting of European Central Bank policymakers in Portugal and the ...
June 17, 2019
Yanbu Industrial Port cuts its container handling tariff
JEDDAH — The Board of Directors of the Saudi Ports Authority (mawani) agreed to reduce the handling tariff, adjust the storage free time for containers and reduce the Marine Services tariff for container ships at King Fahad Industrial Port in Yanbu by 32-57.5%. This is part of the initiatives taken by Mawani to take advantage of the infrastructure in all of the Kingdom's ports and to optimize the excess available ...
June 17, 2019
ArabClicks, Basma Media to establish largest Arab digital marketing network
DUBAI — ArabClicks, the performance-based e-marketing platform, has signed a joint strategic cooperation agreement with Basma Media, the developer of OMNESMEDIA.com, to build effective relationships and foster business connections between publishers and social media influencers on the one hand, and various e-commerce platforms operating in the Arab world on the other hand, thus laying the foundation stone for the largest digital marketing network in the Arab region.The agreement was signed ...
June 17, 2019
ADNOC, OCI JV to create new global nitrogen fertilizer leader
ABU DHABI – The Abu Dhabi National Oil Company (ADNOC) on Monday announced a new strategic partnership with OCI N.V. (OCI). OCI is a global producer and distributor of natural gas-based fertilizers and industrial chemicals, headquartered in the Netherlands. The partnership will see ADNOC combine its fertilizer business, ADNOC Fertilizers, into OCI’s Middle East and North Africa (MENA) nitrogen fertilizer platform to form a new joint venture (JV).The JV will ...
June 17, 2019
UAE pharma market to top $4.5 billion by 2021
ABU DHABI — The importance of the regional pharmaceutical market will be discussed at the forthcoming global pharmaceutical event CPhI Middle East and Africa, when it returns to the Abu Dhabi National Exhibition Centre (ADNEC) on Sept. 16-18, 2019, as the UAE’s pharmaceutical market is expected to increase in value to $4.5 billion by 2021.The event, which is supported by Abu Dhabi Chamber of Commerce and Industry, will tackle the ...
June 17, 2019
India to generate more than 2m outbound MICE tourists by 2020
DUBAI — The 7th Annual MICE India and Luxury Travel Congress is back yet again with a carefully curated program designed for world class travel & hospitality partners to do business with top corporations, most prominent associations, biggest film production houses, top travel agencies and premium destination wedding planners. In a span of seven years, the MILT congress, organized by Dubai-based QnA International, has become India’s premium platform that gathers ...
June 17, 2019
Security to boost adoption of contactless payments in Saudi Arabia
By Ali BailounGeneral Manager for Saudi Arabia – VisaTHE launch of Apple Pay last month and Mada Pay last year mark key milestones in Saudi Arabia’s digital transformation agenda and one that is instrumental in ushering the adoption of contactless payments in the Kingdom.Digital wallets and mobile payments are one of the fastest moving payment technologies globally. It is estimated that by 2022, the payment volume of mobile payment apps ...
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