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In "BUSINESS"
August 07, 2021
Saudi Arabia’s financial wealth grows to $1 trillion despite challenges from the pandemic
OSLO — US tight oil operators have for several months been depleting their inventory of drilled but uncompleted wells (DUCs) and, amid a slower drilling response, the number of ‘live’ DUCs in the country’s major oil regions slumped to 2,381 wells in June 2021, the lowest level since 2013, a Rystad Energy analysis reveals.The total number of horizontal DUCs in the Permian, Eagle Ford, Bakken, Niobrara and Anadarko regions combined fell to 4,510 wells by the end of June. That implies a reduction of 1,800 wells from the peak of 6,340 in June 2020 and an average depletion of 150 wells per month over the past 12 months. The last time the size of the inventory was at this level was in the second half of 2018.However, the total includes so-called ‘dead’ DUCs — or wells that were...
August 07, 2021
‘Live’ DUC well inventory fell to lowest since 2013 as the US continues to frack more than it drills
ABU DHABI — Dumat Al Jandal, the Middle East’s largest wind farm and the first in the Kingdom of Saudi Arabia, is now connected to the grid and has produced its first carbon-free megawatt-hours (MWh) of energy.The 400-megawatt (MW) utility-scale wind power project is being developed by a consortium led by EDF Renewables and Masdar, two of the world’s leading renewable energy companies.The wind farm consists of 99 wind turbines from supplier and EPC contractor Vestas, each with a power output of 4.2 MW. Construction began in September 2019, and the wind turbine erection works are near completion.When complete, the wind farm will generate carbon-free energy, powering up to 70,000 Saudi households, while saving 988,000 tons of CO2 per year in support of the Kingdom’s climate change...
August 07, 2021
Masdar contributes to launch of Saudi Arabia’s first wind farm
RIYADH — Starting Aug. 4, 2021, shoppers can enjoy a wide range of everyday essentials, grocery, exotic fruits, vegetables, frozen and chilled foods, fresh deli items as well as non-food items, household, and home furnishing. More than 120 new products have been introduced in stores, along with over 2,500 variety of far eastern products.Present at the store visit of “Amazing ASEAN” in the presence of Shehim Mohammed — girector of LuLu Saudi Hypermarkets in Riyadh Avenue mall were the ambassadors of the eight ASEAN countries represented in the grand promotion.The were Dato Yusoff Bin Ismail, ambassador of Brunei Darussalam, Arief Hidayat, deputy chief of mission, Embassy of the Republic of Indonesia, Dato' Abd Razak Abdul Wahab, ambassador of Malaysia, Tin Yu, ambassador of...
August 06, 2021
ASEAN shopping focus at LuLu Saudi Arabia
August 05, 2021
Tanmiah lists on Saudi Exchange after heavily oversubscribed IPO
August 03, 2021
Etihad Rail, Western Bainoona Group sign deal for Stage Two of UAE’s National Rail Network
RIYADH — Intelmatix, a deep-tech Artificial Intelligence (AI) company, has closed its investment round led by STV, MENA’s largest venture capital fund, and Sultan Holdings, a leading strategic investor in some of the MENA’s largest companies.Intelmatix, which is headquartered in Riyadh Saudi Arabia, is a pioneer in accessible AI and advanced analytics that delivers technologies that improve operations, productivity, growth, and sustainability for governments and the private sector.Global technology foresight firms report that the revenues from Artificial Intelligence in the Middle East will exceed one trillion riyals during the next ten years, half of which is expected to be in the Saudi market, where AI will contribute at least SR500 billion to the Saudi economy by 2030.The Sultan...
August 03, 2021
AI company Intelmatix closes funding round led by STV & Sultan Holdings
August 01, 2021
CMA chairman to review market trends tomorrow
July 28, 2021
DP World reports strong volume growth of 17.1% in Q2 2021
JEDDAH - Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, announced it has been named a leader, in The Forrester Wave™: Enterprise Email Security, Q2 2021 report. Trend Micro is a leader among the 15 evaluated vendors, scoring second highest in the Current Offering category and tying for the highest score in the Strategy category, two of the three main categories evaluated.Email security is a key layer of security provided by Trend Micro’s cybersecurity platform. At the heart of the platform is Trend Micro Vision One, which delivers visibility and XDR for faster detection of attacks, using telemetry from email security in addition to the other components of the platform including endpoint, servers, cloud workload and networks. Click here to read the full...
July 26, 2021
Trend Micro named a leader in the Forrester Wave™ Enterprise Email Security report
