Category Archives: Business & Investments

Business & Investments

World Free Zones Organization Announces China as Host for its Annual World Congress in 2025

  • This announcement was made during the World FZO’s official visit to Hainan Province, China
  • World FZO Signs MoU with the China Institute for Reform and Development to Launch the Free Zones Institute
  • Dr. Al Zarooni: This partnership marks a significant step forward in our shared commitment to promoting global economic growth through the advancement of free zones.

03 November 2024, Dubai, UAE: The World Free Zones Organization (World FZO) has announced that China will host the 11th annual World FZO World Congress in Hainan Province next year.

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Business & Investments

EDF Group and Masdar-Led Consortium Achieves Financial Close on its Multi-Utilities Infrastructure Facility at AMAALA Tourism Destination In KSA

  • Consortium, led by EDF Group and Masdar, alongside their partners Korea East-West Power Co. (EWP) and SUEZ, secured finance from local and global financial institutions
  • Overall project build cost is approximately 1.5 billion USD
  • New multi-utility infrastructure facility will service AMAALA, saving 350,000 tons of CO2 emissions annually
  • Developed by Red Sea Global, regenerative destination AMAALA is expected to start welcoming guests in 2025

Riyadh – October 31, 2024 – The consortium led by EDF Group and Masdar, alongside their partners Korea East-West Power Co. (EWP) and SUEZ, announced today that it has reached the financial close for its multi-utilities infrastructure facility at AMAALA. The overall project build cost is approximately 1.5 billion USD. Developed by Red Sea Global, AMAALA is a new destination with wellness at its core, nestled along the Red Sea coast of the Kingdom of Saudi Arabia and expected to start welcoming guests in 2025.

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Business & Investments

IGIC UAE 2024 Concludes with Groundbreaking Insights in Geotechnical Engineering

Dubai, UAE – The International Geotechnical Innovation Conference (IGIC UAE) 2024 wrapped up a successful two-day event at Le Méridien Dubai Hotel & Conference Centre, where industry leaders, academics, and geotechnical experts gathered to explore transformative advancements in the field. The conference, led by Dr. Ala Sainak, ADNOC’s Geotechnical Lead, provided a robust platform for exchanging ideas on sustainable and innovative geotechnical practices vital to the region’s infrastructure.

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Business & Investments

EMSTEEL delivers AED 5.9 billion revenues in the first nine months of 2024

Abu Dhabi, United Arab Emirates, 1 November 2024: EMSTEEL (ADX: EMSTEEL) (“the Group”), one of the largest publicly traded steel and building materials manufacturers in the region, today announced its financial results for the first nine months of 2024.

The results demonstrate overall adaptability across the Group’s operations, showcasing the resilience of its Steel division (Emirates Steel) in navigating challenging market conditions, as well as the continued improvement of profitability of its Building Materials division (Emirates Cement).

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