Sharakah, Oman’s leading SME development company, has signed a memorandum of understanding (MoU) to provide Anfal Industries & Trading Company SPC, an Omani-owned manufacturer and distributor of industrial, cleaning, and laboratory chemicals, a Shariah-compliant financing facility to support its working capital requirements.
The United Arab Emirates and Japan have agreed on the final provisions of a Comprehensive Economic Partnership Agreement (CEPA), the first of its kind for Japan with an Arab country.
SABIC has announced the retirement of its CEO and Executive Member of the Board, Abdulrahman Al-Fageeh, effective April 1, 2026.
Shipping insurers are likely to re-examine their ability and willingness to provide cover due to the present situation around the Arabian Gulf, International Union of Marine Insurance (IUMI) has said.
Attacks on commercial shipping in the Gulf intensified on Thursday as the war between the US and Iran escalated, raising concerns about disruptions to energy supplies from one of the world’s most critical oil transit routes. Nine vessels have come under attack since the conflict broke out on Saturday.
Saudi Logistics Services Company has announced the signing of a sale and purchase agreement with Aviapartner Belgium NV and Aviapartner Holding NV for the acquisition of 100% stake in Belgium airport ground handling firm Aviapartner Liege for SAR123 million ($32.8 million).
SATORP, a joint venture between Saudi oil giant Aramco and French multinational integrated energy TotalEnergies, has signed up KBR, a leading technology and engineering solutions company, to provide comprehensive maintenance services for its petrochemical complex in Jubail for the next seven years.
The effective closure of the Strait of Hormuz following the outbreak of the Iran conflict, is likely to be temporary given its vital economic role. This, alongside global oil market oversupply, should limit oil price rises and mitigate any potential disruptions to Iranian oil supply, said an industry expert.
Saudi Arabia's heavy construction equipment market is poised for solid growth over the next few years with the market set to hit $3.5 billion by 2030, driven by the ongoing government initiatives and urbanisation trends. As the country continues to invest in mega projects, the demand for advanced machinery is set to rise, said a report.
GCC banking systems face few immediate credit risks from the regional conflict that has followed attacks on Iran by Israel and the US, says Fitch since the GCC sovereign ratings generally have sufficient headroom to withstand a short regional conflict that does not escalate significantly further.
