In preparation for the bilateral drill maneuvers that the Kingdom of Saudi Arabia is hosting at the drill operations zone in Yanbu and Al-Kharj governorates, the Saudi and US marine corps forces arrived in Yanbu to participate in the Native Fury 22 drill maneuvers being held there. It includes several hypotheses and trainings between the Saudi and US forces, which are scheduled to begin this week and run for several days. The exercise aims at enhancing partnership between the Saudi forces and their US counterparts in carrying out bilateral plans.
Author: menewscast.com
Through its subsidiary International Energy Holding, International Holding Company (IHC) has acquired a 50% stake in Turkish clean energy market leader Kalyon Enerji for AED1.8 billion. The Turkish company Kalyon Enerji is owned by Kalyon Holding, which operates in the construction, energy, and aviation sectors. As part of this transaction, IHC’s subsidiary, International Energy Holding, will own 50% of Kalyon Enerji, adding to IHC Group’s international growth prospects. The AED1.8 billion deal included the photovoltaic power plant project with an installed capacity of 1,347.734 MWp / 1,000 MWe in the Karapinar Region in Konya, located in Ankara, the wind Project…
In order to drive offshore operational efficiency and expand crude oil production capacity to five million barrels per day (mmbpd) by 2030, Abu Dhabi National Oil Company (ADNOC) has agreed to pay $1.17 billion (AED4.3 billion) for the hiring of 13 self-propelled jack-up barges. The five-year contract was awarded by ADNOC Offshore to ADNOC Logistics & Services (ADNOC L&S) and highlights ADNOC’s world-class capabilities. Under ADNOC’s In-Country Value (ICV) programme, 80 percent of the award value will flow back into the UAE’s economy. With ADNOC L&S’s single-point responsibility, the 13 self-propelled jack-up barges enable rig-less operations and maintenance, enabling enhanced…
Sultan bin Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development (SFD), received a delegation from the Republic of Chad today led by Issa Dobran, the Chadian President’s Advisor. Zakaria Fadel Kater, Ambassador to the Kingdom of Saudi Arabia, also attended. In the meeting, they discussed SFD-financed development projects in Chad, challenges related to the implementation of the projects, and sustainable solutions. The Chadian president’s advisor expressed his gratitude and appreciation for the development efforts exerted by the government of the Custodian of the Two Holy Mosques. This was done through its contributions and support for development projects in Chad…
According to the UN weather agency, many parts of the world had just experienced the third hottest July on record amid extreme heat, drought, and wildfires. Because of an intense heatwave around mid-July, temperatures across much of Europe were close to 0.4°C above the 1991-2020 average, with southwestern and western Europe being the most above-average regions. It is despite the La Nina event, which is supposed to cool the planet,” explained World Meteorological Organization (WMO) spokesperson Clare Nullis. It was one of the warmest Julys on record in some places, but not globally, she added, noting that it was “slightly…
Egypt’s planning ministry announced on Wednesday that the Saudi Egyptian Investment Company (SEIC), established by the Saudi Arabian Public Investment Fund (PIF), has purchased minority stakes in four Egyptian companies valued at approximately $1.3 billion. Among these four companies are Abu Qir Fertilizers and Chemical Industries ABUK.CA, Misr Fertilizers Production Company MFPC.CA, Alexandria Container and Cargo Handling ALCN.CA, and E-Finance for Financial and Digital Investments EFIH.CA. As a global impactful investor, the Public Investment Fund (PIF) has a world-class investment portfolio with a focus on sustainable investments, both domestically and internationally. PIF has established 54 companies in 13 strategic sectors,…
Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, raised $10 billion in its first bond offering on Tuesday. The technology giant plans to use the raised capital to revamp its business and fund share buybacks. Several expensive initiatives, including its virtual reality metaverse, will also be funded with the proceeds of the bond sale. It joins the league of technology companies such as Apple Inc. and Intel Corp., which recently raised funds from the debt market. A $5.5 billion bond deal was announced earlier this month by iPhone maker Apple Inc to fund dividends and buybacks. Moreover, Intel…
For the next six months, the Indian government, led by Prime Minister Narendra Modi, is offering free use of the Indigenous 5G Test Bed to government-recognized startups and MSMEs. The decision has been taken with an aim of boosting the 5G ecosystem in India and achieving the objectives of Make in India and Aatmanirbhar Bharat. All other stakeholders can utilize the facility at a very nominal rate. The Department of Telecommunications has urged all parties involved in the development and deployment of 5G technology, including industry, academia, service providers, government bodies, and equipment manufacturers, to take advantage of the 5G…
In the coming winter, Etihad Airways will offer an additional daily service between the UAE and Manila. As of 30th October, there will be a second daily flight between Abu Dhabi and Manila. This will provide guests with a total of 14 flights a week between the two cities. The Boeing 787 Dreamliner, one of the world’s most modern and fuel-efficient airplanes, will operate both daily frequencies. Etihad will offer 450,000 seats annually between Abu Dhabi and Manila with the double-daily flights, representing a 75 percent increase in capacity over last year. As a result of the increased frequency, the…
Patrice Motsepe, president of the Confederation of African Football, will announce the African Super League on Wednesday with $100 million in prize money. The project has been in the pipeline since it was first proposed by FIFA president Gianni Infantino in early 2020. However, it has not met with the same derision and outrage as a similar attempt in Europe last year. Only the players’ union in South Africa, in a statement this week, has criticized the plan, stating: “Professional football in South Africa and Africa could be at risk if the resolution is implemented. There may be no return…