Saudi-based Acwa Power, the world's largest private water desalination company and a leader in energy transition, has announced the launch of full commercial operations at its 501MWh battery energy storage system (BESS) linked to its Riverside Solar project at Tashkent in Uzbekistan.
Leading Saudi group Al Taiseer Talco has announced that it has secured the go-ahead from the company's board for the acquisition of a 60% stake in Dammam-based Eastern Aluminum Extrusion Factory. This comes following a previously announced pact with the group.
Global air cargo demand rose in the first full week of February, as freighter capacity from Central and South America normalised after the peak of Valentine’s Day flower shipments and airlines reduced capacity from parts of Greater China ahead of Lunar New Year, said a report.
Kuwait Financial Centre (Markaz) said it has executed a voluntary acquisition offer worth KD64.12 million ($208.6 million) on behalf of Boodai Reliance Real Estate to boost its stake in Jazeera Airways. Following this, Boodai Reliance’s total ownership in the Kuwaiti airline has risen to 72.26%.
Halliburton, one of the world's leading providers of products and services to the energy industry, has launched the XTR CS injection system, a wireline-retrievable safety valve solution engineered for CO₂ injection in carbon capture, utilisation and storage (CCUS) wells.
IHC, a key investment company based in Abu Dhabi with interests in asset management, real estate, construction and finance sectors, has reported a 29% rise in its revenue for FY 2025 and a 35% jump in profit, supported by strong performance across its diversified portfolio.
In a surprise leadership overhaul, Sultan Ahmed bin Sulayem, long the face of Dubai’s global trade empire, has been removed from his positions as Group Chairman and CEO of DP World — and divested of his chairmanship of the Ports, Customs and Free Zone Corporation.
AD Ports Group, a leading global enabler of integrated trade, industry, and logistics solutions, delivered record revenue and net profit for the full year 2025 and also turned Free Cash Flow (FCF) positive for the year, a first since its 2022 public listing.
Luma AI, the frontier artificial intelligence company building multimodal AGI, has announced plans to open a dedicated office in Riyadh, Saudi Arabia, marking a significant expansion of its presence in the Middle East and furthering the acceleration of HUMAIN Create.
Petro Rabigh, a joint venture between Saudi oil giant Aramco and Sumitomo Chemical, has signed up KBR, a leading technology and engineering solutions company, to provide maintenance services for its polymer plants in Rabigh, Saudi Arabia for a 10-year period.
