Boosting Investment Partnerships: UAE and Egypt Collaborate

CAIRO: The UAE International Investors Council has signed a memorandum of understanding with the Egyptian-Emirati Business Council to enhance existing investment partnerships, the Emirates News Agency reported on Monday.  The memorandum aims to increase investment opportunities in the new economy, green projects, recycling, clean projects, the technology sector, and new digital technologies.

Saudi company invests in Italian chemical manufacturer

RIYADH: Saudi Arabian Industrial Investments Co., also known as Dussur, has announced the acquisition of a stake in Italmatch Chemical, a global specialty chemical additive manufacturer based in Italy, the Saudi Press Agency reported. The announcement was made at a ceremony held in Riyadh on Monday. It was attended by Saudi Energy Minister Prince Abdulaziz bin Salman, Investment Minister Khalid Al-Falih, and Minister of Industry and Mineral Resources Bandar Alkhorayef.

“Oman’s Inflation Rate Drops to 1.1% in April, Lowest Since March 2021”

RIYADH: Decelerating food prices drove Oman’s inflation levels to a 10-month low of 1.1 percent in April, according to the country’s National Center of Statistics and Information.  The 19-month low of food inflation — which stood at 2.7 percent in April as opposed to 4.1 percent in March — was mainly attributed to lower vegetable prices.  The statistics authority stated change in food costs came following a 1.6 percent annual hike recorded in March. 

“CMA to List 24+ Firms on Saudi Stock Market by 2023”

RIYADH: Saudi Arabia has more than 24 initial public offerings lined up for 2023 as it seeks to create boost the economy and create financing channels for emerging sectors. A report issued by the Capital Market Authority on Sunday said the Kingdom intends to boost its market’s appeal to foreign investors and increase their ownership as a percentage of the total market value of free float shares to reach 16.5 percent by the end of 2023.

“FTSE Russell Includes 5 Saudi Companies in Indices”

RIYADH: FTSE Russell has added five Saudi companies to its indices, it announced in its quarterly review. It is a leading global index provider of benchmarks, analytics, and data solutions. Saudi firms Luberef, Arabian Drilling, and Marafiq have been added to FTSE Mid Cap Index and FTSE Global Equity Index. While Alsaif Gallery and 2P have become part of the FTSE Global Microcap Index Series and Global Equity Index All-Cap Index.

Oil giants in the Gulf partner with start-ups for carbon capture

ABU DHABI: Faced with mounting pressure over planet-heating pollution, Gulf Arab energy giants are turning to humble tech start-ups as they search for ways to remove emissions while keeping oil flowing. Oil producers have for years touted capturing carbon before it goes into the atmosphere as a potential global warming solution, against criticism from climate experts who say it risks distracting from the urgent goal of slashing fossil fuel pollution.

NEOM’s First International Exhibition in Venice

RIYADH: NEOM launched its first international exhibition in Venice while presenting the key design principles underlying The Line, the Saudi Press Agency reported on Sunday. Called “Zero Gravity Urbanism — Principles for a New Livability,” the exhibition plays host to more than 20 of the world’s leading architects and innovative designers.