Category Archives: Business & Investments

Business & Investments

Aljomaih Energy & Water Company leads consortium to achieve Financial Close for the Taiba-2 and Qassim-2 Combined Cycle Gas Turbine power projects with a total capacity of 3.96 GW in the Kingdom of Saudi Arabia

Consortium comprises Ajlan& Bros Group a leading multi-sector conglomerate, Buhur for Investment Company and the EDF Group

Riyadh, Saudi Arabia 12 July 2024 –Aljomaih Energy & Water Company, a leading Saudi investor, developer and operator of utilities and infrastructure projects, along with its consortium members Ajlan & Bros Group, Buhur for Investment Company and the EDF Group, have announcedthe achievement of the Financial Close of the Taiba-2 and Qassim-2 Combined Cycle Gas Turbine (CCGT)power projects, with a total capacity of 3.96 GW in the Kingdom of Saudi Arabia.

Mr. Ibrahim Al Jomaih, Chairman of the Board of Directors of Aljomaih Energy and Water Company

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Business & Investments

Presight Awarded Nine ISO Certifications, Strengthening Commitment to Excellence

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Abu Dhabi, United Arab Emirates, July 11, 2024: Presight, the region’s leading big data analytics company powered by Generative AI, today announced the attainment of nine ISO certifications, marking a significant milestone in the company’s journey since its listing on the Abu Dhabi Securities Exchange (ADX) in 2023.

These certifications encompass various aspects of organizational management, including corporate governance, risk management, quality, health and safety, environment, information security, privacy information, and business continuity management systems. Achieving ISO certification signifies Presight’s unwavering commitment to excellence, efficiency, and stakeholder satisfaction while fostering a culture of continuous improvement and sustainability.

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Business & Investments

Green investment in GCC could unlock up to US$2 trillion in GDP contribution by 2030, experts say at DSIG Conference

Experts at the first Dubai Stockbrokers and Investment Services Group (DSIG) conference urged GCC governments to continue opening up and strengthening the region’s capital markets by removing constraints for green finance

Date: Dubai, UAE; July 11, 2024

News Highlights:

  1. Investment in green projects coupled with sustainable finance could help the GCC countries to unlock up to US$2 trillion (Dh7.3 trillion) in GDP contribution by 2030;
  2. Increasing recycling rates in the GCC to an achievable 40 percent would create about 50,000 new jobs to support a US$6 billion market;
  3. Globally, an estimated investment of US$4.2 trillion per annum is required to meet the UN Sustainable Development Goals (SDGs). This looks achievable because the total financial assets industry is at US$379 trillion.
  4. By End-2022, the global investments in sustainable assets touched US$30.3 trillion with non-US markets showing 20 percent growth in assets.

Investment in green projects coupled with sustainable finance could help the GCC countries to unlock up to US$2 trillion (Dh7.3 trillion) in GDP contribution by 2030, if investment opportunities are tapped across key industries, according to a recent report by Strategy& that recommends the GCC governments to open up the region’s capital markets to help accelerate investment in sustainable projects.

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Business & Investments

Bitget added 2.9 million new users with $700M Capital Inflow in Q2

Bitget Q2 Report Highlights $700M Capital Inflow and nearly 50% Rise in Traffic

Global, 11th July, 2024 — Bitget, the leading cryptocurrency exchange and Web3 company, has released the quarterly transparency report for Q2 2024 showcasing the company’s progress in the year so far. Q2 2024, Bitget experienced a substantial increase in website traffic, seeing a nearly 50% rise, which brought in a surge of 10M monthly visitors.

The exchange’s inflow of funds increased. Data from the Bitget Proof-of-Reserve (PoR) page indicates that in the first 6 months, the number of users’ BTC, USDT, and ETH surged by 73%, 80%, and 153% respectively, equalling approximately $700 million in capital inflow. The growth was complemented by the addition of 2.9 million new users to the platform, aligning with its expanding reach and world-class crypto trading solutions. The spot trading volume on Bitget increased by over 10%, from $28B in Q1 to $32B in Q2.

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