Abu Dhabi National Oil Company (ADNOC) has announced that one of its vessels was targeted by a missile today while transiting the Strait of Hormuz early on Saturday (August 8). The incident resulted in no injuries, and the situation has been brought under control, said ADNOC in a statement.
Oman's industrial estates operator Madayn has announced that its Suhar Industrial City has attracted more than RO214 million ($555 million) in investment commitments during the first half with 39 contracts signed for projects covering more than 1.1 million sq m area.
Spanish water company Aqualia has secured a three-year contract renewal from National Shipping Company of Saudi Arabia (Bahri) for the operation and maintenance of three floating desalination plants in Yanbu with a combined capacity of 150,000 cu m of drinking water per day.
Global food prices rose in July to their highest level in more than three years, driven by increases in cereal, sugar and vegetable oil prices amid concerns over global grain supplies and the impact of weather conditions on agricultural production.
ADNOC Logistics & Services has announced the acquisition of five modern Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs) for a combined investment of approximately $1.3 billion (AED4.8 billion).
The Middle East’s historic role as the global energy heartbeat is entering a new chapter. While the region continues to provide over 31% of the world’s oil, its true competitive advantage is shifting from resource extraction to intelligent orchestration.
Saudi utility giant Acwa Power has reported mixed first-half results, with its revenue soaring to SAR4 billion ($1.2 billion) mainly driven by higher energy sales and increased O&M services earnings, while its net profit for the six-month period fell 28% to SAR653.2 million ($174.2 million).
Asyad Shipping has advanced its fleet expansion strategy with the naming of new product tanker “MT Manah” at China’s Wuzhou Shipyard, enhancing refined petroleum transport capabilities and supporting Oman’s vision to become a leading global maritime and logistics hub.
Dubai Electricity and Water Authority (Dewa) has announced the tender-opening results for a project to supply, install, test and commission glass-reinforced epoxy (GRE) water transmission pipelines and associated works at Hassyan SWRO Phase 2, with six contractors having submitted definite bids for the project.
The UAE Emirate of Ras Al Khaimah continues to establish its position as a leading investment destination, attracting AED771.5 million ($210 million) in the first half of 2026.
