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Economy
Kuwait’s Q8 to build first hydrogen refueling station in Rome
Italy’s energy transition plans received a further boost as Kuwait Petroleum International, also known as Q8, laid the foundation for Rome’s first circular hydrogen refueling station in collaboration with Maire Group.
To be located on…
King Fahd International Airport records 250k passengers in 7 days
King Fahd International Airport witnessed an 11 percent rise in passenger numbers throughout the seven days of the Eid Al-Adha celebration compared to the equivalent period in 2022.
Dammam Airports Co., which operates the transport hub,…
Middle East’s assets under management hit $1.3 trillion: report
Despite global economic headwinds, assets under management in the Middle East grew by $100 billion from 2021 to 2022 to reach $1.3 trillion, according to US-based Boston Consulting Group.
This reflects a compound annual growth rate of 7…
GACA proposes draft economic regulations to improve aviation sector’s efficiency
Saudi Arabia’s aviation sector’s efficiency and competitiveness are set to receive a boost thanks to the new economic regulations that are likely to be introduced.
The General Authority of Civil Aviation has put forward the draft…
Hyundai E&C wins $5bn EPC contract for Aramco’s Amiral project
South Korea’s Hyundai Engineering & Construction has won a contract worth $5 billion for the planned Amiral petrochemicals complex that the Saudi Arabian Oil Co. is building in partnership with TotalEnergies in Jubail.
Hyundai…
France’s Macron says leaders have finalized accord on $100bn in climate finance
Wealthy nations finalized an overdue climate finance pledge to developing countries worth $100 billion on Friday and created a fund for biodiversity and the protection of forests, France’s president said, according to Reuters.
Emmanuel…
World leaders urge transformation of global financial system at Paris summit
French President Emmanuel Macron on Thursday said that the world should act urgently to change the operational model of the global financial system.
Speaking at the Summit for a New Global Financial Pact in Paris, Macron said that world…
China unveils $72bn tax break for electric cars
China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package of tax breaks over four years for electric vehicles and other green cars, as it seeks to boost auto sales.
Weakening sales growth in the world’s biggest auto market…
Saudi Arabia, France to explore investment opportunities at business forum in Paris
Major investment opportunities in the areas of tourism and culture, technology and clean energy are up for discussion when top officials from Saudi Arabia and France meet during a business forum in Paris this week.
The French-Saudi…
Egypt’s macroeconomic conditions improving, says minister
Egypt’s macroeconomic indicators have improved as the North African country recorded a primary budget surplus of 1.2 percent of the gross domestic product during the first 11 months of the current fiscal which ends on June 31.
During a…