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.
The Arab Shipbuilding and Repair Yard Company (ASRY) has announced the completion of its 200th offshore rig project belonging to Gorilla Class category. The Valaris 250 offshore rig achieved a key safety milestone clocking more than 700,000 LTI-free manhours.
McDermott, a premier provider of engineering and construction solutions to the energy industry, has been selected by Saudi oil giant Aramco as one of the 11 selected contractors for project management consultancy to support delivery of large-scale energy, petrochemical and low carbon projects across the kingdom.
HYXI (formerly HYXiPOWER), a global smart energy innovator, showcased its latest AI-native smart energy ecosystem at SNEC 2026 in Shanghai under the theme "Smarter Energy for All," highlighting its vision for AI-native energy autonomy across residential, C&I, and utility-scale scenarios.
