Petrofac wins $1.65bn deals for Abu Dhabi's Dalma gas project

Petrofac Emirates has been awarded two contracts, together worth around $1.65 billion, from Abu Dhabi National Oil Company (ADNOC). The engineering, procurement, construction, transportation, offshore installation and commissioning contracts are for ADNOC’s Dalma Gas Development Project. The work scope encompasses offshore packages at Arzanah ...

Tesco to ditch plastic-wrap for multipack tins

Tesco is removing plastic wrapping from its multipack tins in an effort to cut down on waste. The supermarket giant says it will remove 350 tonnes of plastic a year from the environment. Britain's biggest supermarket is working with the likes of Heinz and Green Giant to replace plastic-wrapped multipacks with multi-buy deals. Tesco said the move...

RBS Group to change its name to NatWest

Royal Bank of Scotland (RBS) Group has said it plans to change its name later this year, as it reported a near doubling of annual profits. The Edinburgh-based bank, which owns RBS, NatWest and Ulster Bank, said it would rename itself as NatWest Group. The bank reported profits of £3.1bn for 2019, nearly double the £1.6bn seen the year before. ...

Kuwait's KFH says AUB merger to create $101bn banking giant

Kuwait Finance House has confirmed its intention to buy Bahrain’s Ahli United Bank following its ordinary and extraordinary general assembly meeting. The combined entity will potentially become the Gulf’s sixth-biggest lender with $101 billion in assets. Kuwait Finance House chairman, Hamad Abdulmohsen Al-Marzouq, said the Central Bank of Ku...

Warren Buffett adds Kroger to his investing shopping cart

Warren Buffett's Berkshire Hathaway disclosed a new stake in Kroger after the closing bell Friday. Shares of the nation's largest supermarket surged 6% on the news. Berkshire Hathaway (BRKB) bought nearly 19 million shares in Kroger (KR) during the fourth quarter, a purchase that makes Berkshire one of the 10 largest holders of the company's sto...

London will use live facial recognition cameras to police the city

London's Metropolitan Police has announced controversial plans to use live facial recognition technology to improve officers' ability to identify suspects and police the British capital. The Met said in a statement Friday the technology will be deployed to places where data indicates people responsible for serious and violent crimes, such as gun...

New Samsung Galaxy Z Flip sells out in a day in UAE

Samsung’s new foldable flagship phone completely sold out in the UAE in the first day. The Samsung Galaxy Z Flip, with a starting price of AED 5,499, went on sale on Friday but flew off the shelves before the day was out. The smartphone flips open, like a case, opening into a 6.7-inch screen, and fits in a pocket when folded. Ultrathin glass u...

Emaar chairman Mohamed Alabbar reveals 2020 hotel expansion plans

Emaar Hospitality Group has continued its ambitious growth strategy with the official opening of the iconic Address Sky View, in Downtown Dubai. The company opened Vida Emirates Hills, Vida Creek Harbour and Address Fountain Views in 2019. And Emaar chairman Mohamed Alabbar told guests at the opening ceremony of the Address Sky View, the company...

Saudi-Led Investor Group Said in Talks to Buy Newcastle United

A Saudi Arabia-led investor group is in talks to buy Newcastle United, the Premier League soccer team owned by British billionaire Mike Ashley, for about 340 million pounds ($445 million).Ashley has been struggling to offload the team in recent years and it was unclear whether he would accept the offer, the person said. Saudi Arabia’s Public I...

Abu Dhabi's ADIO invests $16.3m in start-ups, fund managers

The Abu Dhabi Investment Office (ADIO) has announced AED60 million ($16.3 million) of investment in a batch of start-ups and fund managers applying to its Ventures Fund. The recipients - Securrency, TruKKer, Sarwa, YACOB and Okadoc - are innovation-focused companies that are either based in Abu Dhabi or expanding into the emirate. ADIO said it h...
Image
Image
Image
Image
Image
Image

Main campus

Open on location Google Map