Sokoyo, a top Chinese manufacturer of solar street lights, has announced that it has completed the lighting units installation work for QatarEnergy at its Ras Laffan and Masaieed solar project facilities. The power project is being developed by Samsung C&T Corp.
Emirates Global Aluminium (EGA) has announced robust results for the first half, recording a 34% jump in adjusted net profit which rose to AED2.46 billion ($670 million) from AED1.84 billion ($500 million) helped by higher realised aluminium prices and stronger regional premiums.
Skyro, a digital-first consumer finance platform based in Bahrain, is expanding into Saudi Arabia and has appointed former Mastercard executive Maria Medvedeva as the regional managing director. In this role, she will oversee Skyro's market entry in Saudi Arabia and its broader expansion across the region.
Abu Dhabi National Oil Company's six listed firms - ADNOC Distribution, Borouge, Fertiglobe and ADNOC Drilling as well as its gas and logistics units - reported a combined revenue of $25.3 billion in H1 with big investments and project awards likely to support growth across the portfolio.
Holcim UAE (earlier Lafarge Emirates Cement) has, in partnership with carbon storage innovator 44.01, achieved a major milestone in industrial decarbonisation with the commissioning of a continuous carbon capture and underground mineralisation pilot at a cement facility in Fujairah.
Bitget, the world's largest Universal Exchange, has launched Project Archimedes, a $300 million institutional capital programme aimed at supporting quantitative trading firms and asset managers across the Middle East and North Africa. It aims to support 50+ promising projects in the next six months.
Global chip giant Nvidia is teaming up with Wall Street's big guns including Apollo, Blackstone and Goldman Sachs to mobilise over $500 billion for AI infrastructure, as part of its ambitious plan to turn AI chips into a new asset class that investors can fund much like real estate or other critical infrastructure.
EMSTEEL, one of the largest publicly traded steel and building materials manufacturers in the region, said it had supplied locally manufactured rebar and more than 80,000 tonnes of cement for the Etihad Rail project. These were used in the construction of passenger stations across Al Dhafra region and Abu Dhabi.
Al Rajhi Capital and LogiPoint have entered into a deal to establish a dedicated investment fund for the development of the South Jeddah Logistics and Industrial Park, a landmark mixed-use logistics and industrial project in the Saudi port city, at a total investment of SAR5 billion ($1.3 billion).
Saudi Ceramics Company has announced that it has entered into an agreement with Sadr Logistics Services Company for the supply of wooden pallets and installation of storage systems at the company’s central warehouse in Riyadh. The entire work is set to be completed within four months.
