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Ooredoo Kuwait Nine-Month Profit Falls 29% to KWD48 Million on Algeria Provision as Revenue Rises 6%

Ooredoo Kuwait's nine-month net profit fell 29% to KWD48 million after a KWD23.5 million provision tied to a claim by the Central Bank of Algeria, while revenue rose 6% to KWD608 million.

Masdar Agrees to Buy 550-Megawatt-Plus Greek Solar Project From Lightsource bp, Signs Data Center Pact With Khazna

Abu Dhabi's Masdar has agreed to buy a solar project of more than 550 megawatts in Greece from Lightsource bp, its first strategic investment through Terna Energy, and signed a memorandum with Khazna Data Centers on green data centers.

Oman’s Mohammed Al Barwani Satellite Company Signs ST Engineering iDirect Deal to Launch Sovereign Satellite Services in 2027

Mohammed Al Barwani Satellite Company has signed an agreement with ST Engineering iDirect to build the ground network for sovereign satellite communications services in Oman, with a launch planned for 2027.

Ras Al Khaimah Closes All Public Beaches Until Further Notice as Tanker Oil Spill Shuts UAE Coastline

Ras Al Khaimah closed all of its public beaches on Saturday until further notice, a day after an oil spill from a tanker forced closures in neighboring Umm Al Quwain and Sharjah.

FIX Dessert, Creator of ‘Dubai Chocolate,’ Wins Dubai-it Award as Crown Prince Cites 1,234% Sales Jump

FIX Dessert Chocolatier, the Dubai brand behind the pistachio and knafeh bar known as 'Dubai Chocolate,' has won the Dubai-it Award for business projects, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said on Saturday.

Oman Investment Authority Leads Sovereign Alliance to Set Up $500 Million Central Asia and Caucasus Fund

Oman Investment Authority has assembled an alliance of sovereign wealth and investment funds to establish a Central Asia and Caucasus fund with a target size of $500 million, with the founding agreement due to be signed in early November.

Bahrain Banks Warn Against Halving Minimum Credit Card Payments to 2.5% Ahead of Parliament Debate

The Bahrain Association of Banks warned that a parliamentary proposal to cut the minimum monthly credit card repayment from 5% to 2.5% could leave borrowers in debt for longer and raise their total interest costs.

UAE Startups and Innovators: MetisJean, Building AI That Companies Run In-House

MetisJean, a Dubai-based AI start-up, launched with close to $3 million in pre-seed funding and is seeking $5 million in seed funding to expand Jean, its sovereign AI operating system.

SLB Says Middle East Revenue Rose 13% to $1.9 Billion in Third Quarter, Wins Five-Year Contracts From PDO and Kuwait Oil Company

SLB said its Middle East revenue rose 13% from the previous quarter to about $1.9 billion in the third quarter as activity recovered, and disclosed new contracts from Petroleum Development Oman and Kuwait Oil Company.

Ras Al Khaimah Ends China Tour With 11 Agreements, Including Marjan Pact With China Road and Bridge and Bank of China Framework

Ras Al Khaimah signed 11 agreements during a week-long official visit to China led by Ruler Sheikh Saud bin Saqr Al Qasimi, ending the trip with a friendship agreement with Fujian Province.

QatarEnergy in Talks to Buy Up to 3 Million Tons a Year of LNG From Woodside’s Louisiana Plant, Reuters Reports

QatarEnergy is in talks with Woodside Energy to buy up to 3 million metric tons a year of LNG from its Louisiana LNG plant under construction, three people with knowledge of the negotiations told Reuters.

Iran Has Plans to Hit Gulf Undersea Internet Cables if War Resumes, Security Officials Tell Reuters

Two senior Iranian security officials told Reuters that Tehran has drawn up plans to target undersea communications cables in the Gulf if the United States and Israel attack Iran again.
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