Tuesday 19 March 2024
 
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UAE Council for Climate Action assesses country’s progress

The UAE Council for Climate Action has sought ways to develop sustainable and cutting-edge financial frameworks for green projects by creating a platform for the commercialisation of carbon as a tradeable asset on local markets.    The project will offer op

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Maggioni named Raimondi Cranes Group CEO

Raimondi Cranes, a heritage manufacturer of intelligently-designed scalable heavy lifting solutions, has announced the appointment of Luigi Maggioni as its new Group Chief Executive Officer.    An industry veteran with 16 years of experience in European man

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Suhar Industrial City attracts a plastics project worth $23.4m

Suhar Industrial City, affiliated to Oman’s Public Establishment for Industrial Estates (Madayn), has signed an investment contract with Multi Bond Metal Company to set up a plastics-focused facility worth OMR9 million ($23.4 million).   The project will m

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IATA explores sustainability and digitalisation in air cargo industry

The International Air Transport Association (IATA) reviewed progress in digitalisation, safety and sustainability at the IATA World Cargo Symposium (WCS) taking place from March 12-14 in Hong Kong with the aim of accelerating progress on these critical priorities. “Air cargo volu

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United Solar breaks ground on $1.3bn Oman polysilicon factory

Oman-based United Solar Holding has broken ground on its major polysilicon factory project being set up at an investment of RO520 million ($1.3 billion) within the Sohar Port and Freezone.    The landmark project, which is set to be the largest of its kind

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ADIO expands Abu Dhabi’s trade links with Western Australia

The Abu Dhabi Investment Office (ADIO) has signed a collaboration Letter of Intent with Western Australia’s (WA) Department of Jobs, Tourism, Science and Innovation to accelerate growth across shared areas of economic interest. The collaboration is part of a series of strategic ADIO ini

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Total diamond trade in Dubai hits $38.3bn in 2023: DMCC

Dubai’s diamond trade in 2023, headlined by 2% year-on-year growth in the value of rough and polished diamonds, has hit $38.3 billion, representing a five-year compound annual growth rate of 11%.    Dubai Multi Commodities Centre (DMCC) has announced

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Technip consortium wins EPC contract for major Adnoc project

A major international consortium comprising Technip Energies, a major global engineering company, along with Japanese EPC contractor JGC and UAE-based National Petroleum Construction Company has secured a sizeable contract from Abu Dhabi National Oil Company (Adnoc) for its new liquefied natu

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UAE ranks second in greenfield FDI; draws $15bn in 2023

The UAE ranked second globally in the number of greenfield FDI projects in 2023, with 1,280 projects, trailing only behind the United States, which led with 1,966 projects.   The number of greenfield FDI projects in the UAE surged by 36% y/y, taking the UAE up t

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Saudi Railways, Maersk enter container transportation deal

Saudi Arabia Railways (SAR) has signed a contract with the sea shipping major Maersk to increase the number of containers transported on SAR trains between King Abdulaziz Port in Dammam and Riyadh Dry Port, a Saudi Press Agency report said.   SAR CEO Bashar Khal

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