The International Renewable Energy Agency (Irena) has signed an agreement with Etihad Credit Insurance (ECI) to facilitate access to financing for renewable energy projects worldwide. Under this, ECI is bringing a suite of innovative credit insurance and risk mitigation solutions for ETAF.
Global traffic volume in terms of chargeable weight dropped last week by 9% week on week (WoW), largely in response to public holidays - US Memorial Day and Eid - a decrease that was similar to the 8% drop in volume last year. Nevertheless, pricing rose +2% WoW while capacity shrank by -1%, said a report.
Aggregate net profits reported by companies listed on GCC exchanges rose 15.5% year-on-year in the first quarter to a record quarterly high of $67.9 billion, up from $58.8 billion, said a report. This growth was mainly due to stronger earnings from energy companies, particularly Saudi Aramco.
The UAE's $1.4 trillion investment programme in the United States is progressing ahead of schedule, with officials highlighting advances in AI infrastructure, energy projects and manufacturing investments during talks in Washington this week.
Global steel excess capacity continues to grow, driven by increasing subsidies in some major non-OECD steel-producing economies, while efforts to restore fair competition are increasingly undermined by circumvention of trade measures aimed at levelling the playing field, according to a new OECD report.
The Dubai Department of Economy and Tourism (DET) has launched SME in a Box, a new platform designed to make it faster, simpler, and more cost-efficient for entrepreneurs to start and operate businesses in Dubai.
EFG Hermes, an EFG Holding company and a leading investment bank in the Mena region, has announced the successful closing of an E£5.1 billion corporate bond issuance for EFG Corp-Solutions. The transaction marks the largest corporate bond issuance ever completed in Egypt’s debt capital market.
ASMO, the joint venture between Saudi Aramco and DHL, has appointed Nico Schuetz as Chief Executive Officer, effective June 1, 2026.
Swedish conglomerate Alfa Laval has appointed Alban Hohmann‑Schauly as its new Vice President of Energy unit for the Middle East, South & East Africa region. With over 16 years global experience in the energy and digital infrastructure, Alban has built a strong track record in market analysis and customer segmentation.
SAFEEN Drydocks, a shipbuilding, repair and maintenance company, has secured two major vessel construction contracts valued at AED1.3 billion ($354 million) in total, marking the largest awards secured by SAFEEN Drydocks to date and reinforcing the UAE’s growing position as a shipbuilding hub.
