UAE space technology company Space42 and California firm Viasat have agreed to establish a satellite communications platform, committing $1 billion in equity as part of the venture. The Equatys platform aims to connect smartphones and other devices directly to low-Earth orbit satellites, enabling…
Saudi Arabia has discovered 110 million tonnes of ore containing uranium, one of the most significant rare earth discoveries in the world, the kingdom’s Energy Minister Prince Abdulaziz bin Salman has said. The discovery in the Madinah region comes as Saudi Arabia pushes to boost investments in…
An incomplete golf resort in Scotland, which is owned by a UAE family but has never opened to public, has been put on the market. Located near the world-famous Gleneagles course in Perthshire, gWest was intended to rival the quality of its historic neighbour. But few people have had the chance to…
Miral, the company behind Yas Island in Abu Dhabi, has announced a Dh12 billion ($3.26 billion) investment over the next five years to expand its hospitality and theme park offerings. The amount will be allocated towards the expansion of a Warner Bros-themed hotel with 250 rooms, as well as a new…
Etihad Airways expects to break even this year due to strong demand despite the Iran war, reversing a forecast in June that it could post an annual loss. The Abu Dhabi airline is flying with planes 90 per cent full, generating positive cash flow and benefitting from a “booming” air cargo business…
Oil prices surged towards $110 a barrel on Monday, with Brent jumping almost 5 per cent after Saudi Arabia shut its East-West pipeline following attacks, removing a crucial route for exporting crude without passing through the Strait of Hormuz and deepening fears of a global supply crunch. Brent…
Traders expect the US Federal Reserve to raise interest rates this week to clamp down on energy-induced inflation driven by the Iran war. Nearly 90 per cent of traders believe the US central bank will raise interest rates by 25 basis points on Wednesday, snapping a nine-month holding pattern, CME…
“War is too important to be left to the generals,” said Georges Clemenceau, France’s victorious prime minister in the First World War. Energy executives keenly anticipate Adipec in Abu Dhabi at the start of November. For the energy industry to confront a new era of disorder, it needs leaders from…
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