Mecca Power Plant Expansion Secures $2.6 billion Funding for Major Rabigh 2 Project

Investment
Saudi Arabia has secured major financing for the Mecca power plant expansion. ACWA Power and Saudi Energy will use the funding for the Rabigh 2 project. The two companies secured SAR9.7 billion from 14 regional and international banks. The financing will support a planned 2.3-gigawatt expansion in the Mecca region. The funding equals about $2.6 billion based on current exchange...
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Kuwait Real Estate Auctions Generate KD9.63 million as Competitive Bidding Pushes Property Values Higher

Kuwait real estate auctions generated KD9.63 million from 18 properties during September. The sales came through auction sessions organized by the Execution Department at...

Mecca Power Plant Expansion Secures $2.6 billion Funding for Major Rabigh 2 Project

Saudi Arabia has secured major financing for the Mecca power plant expansion. ACWA Power and Saudi Energy will use the funding for the Rabigh...

Dubai Electric Vehicle Exhibition to Showcase Technologies Supporting Sustainable Transport

Dubai will host the inaugural Dubai International Electric Vehicle Exhibition and Conference 2026 from November 10 to 12. The event will bring together major...
Oil and Gas

Oman Economy Grows 5.1% as Rising Oil Production and Prices Drive Growth in 2026

The Oman economy grew strongly during the second quarter of 2026. Higher oil production helped support overall growth during the period. Gross domestic product increased 5.1% from the same quarter last year. The economy reached OMR9.9 billion, equal to about $26 billion. The growth came despite major disruptions around the Strait of Hormuz. Oman maintained relatively strong oil exports during...

Finacial

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MICE Summit Highlights Community Building Initiatives

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The MICE Summit in Riyadh drew top regional and international event operators to focus on community building and talent development. The event showcased the growing importance of professional training in the meetings, incentives, conferences, and exhibitions sector. Hosted...
Oil and Gas

Saudi Aramco Expands Gas Strategy with Major Output Growth Targets

Aramco Gas Growth continues to shape Saudi Arabia’s long-term energy strategy as the company targets a major increase in gas production capacity by 2030....
Financial

Qatar Stock Exchange Surge Follows Iran-Israel Ceasefire

The Qatar Stock Exchange surge continued this week, with investors reacting positively to the Iran-Israel ceasefire. The main index soared 424 points, marking a 4.13% weekly...
Investment

Oman and Spain Strengthen Bilateral Economic Cooperation

Oman and Spain reaffirmed their commitment to strengthening economic partnerships. They aim to promote innovation and expand investment frameworks. Sultan Haitham bin Tariq visited...
Financial

Iraq Rentier Economy Risks and Reforms Demand Urgent Action

The Iraq rentier economy risks and reforms have become a major concern as the country continues to depend heavily on oil revenues. Experts warn...
Iraq

Oil Flows Boost Trade and Strengthen Iraq-Turkey-U.S. Business Ties

Oil flows through the northern pipeline could transform regional cooperation and deepen economic partnerships. The restart of exports through the Iraq-Turkey Pipeline (ITP) offers...
Uncategorized

Dubai Citizen Housing Support Drives Quality of Life Improvements

Dubai citizen housing support remains at the heart of development plans, as new figures show strong progress in housing, jobs, and wellbeing. The update came...
Financial

Emirates Flight to Dubai Makes Unscheduled Refueling Stop Following Fuel Delivery Problems

An Emirates flight from Edinburgh to Dubai diverted to Manchester after fuel supply issues affected operations at airports in Scotland. The disruption caused delays...
Investment

Clean Food Powers UAE’s Drive for Protein Independence

Billionaire investor Jim Mellon unveiled plans to establish large-scale clean food production in the UAE. This initiative could transform the region’s reliance on imports...
Financial

Kuwait Non-Oil Sector Shows Strong November Growth

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Kuwait reported a solid improvement in private economic activity in November as output strengthened and new orders increased. The Kuwait non-oil sector recorded another month of expansion, confirming steady momentum in the country’s diversification efforts. The Kuwait non-oil sector...

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