The tower by Magnom Properties uses liquid hydrogen as a primary source of clean energy in addition to integrated photovoltaic-laced design panels Magnom Properties, a subsidiary of Saudi Arabia’s Rawabi Holding, has announced a groundbreaking achievement for its upcoming Forbes International Tower, as it becomes the first tower in the world to officially register for the International Living Future Institute (ILFI) Zero Carbon Certification. The new milestone brings Magnom Properties one step closer to delivering the lifecycle net negative carbon vision of the futuristic Forbes International Tower, planned in Saudi Arabia, the UAE, and Egypt. US-based ILFI‘s Zero Carbon Certification…
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Announcement follows DAMAC’s recent investment in June 2024 into the Artificial intelligence sector with xAI, Mistral and Anthropic DAMAC Capital, the investment arm of the globally renowned DAMAC Group, has announced strong ROI its strategic investments in SpaceX and Stripe. The investments underscore the company’s continued commitment to pioneering advancements in technology and innovation at a global scale, propelling its portfolio into sectors with significant growth potential. The company has been active in the space tech industry since the COVID-19 pandemic period. SpaceX founded by Elon Musk, is at the forefront of space exploration and technology, revolutionising space travel and…
Develon is enhancing its proximity to customers and dealers, reaffirming its dedication to Germany as a key long-term base As part of the company’s first appearance at the GaLabau International Trade Fair from 11-14 September in Nuremberg, Germany, DEVELON, formerly Doosan Construction Equipment, will be premiering the new DX10Z-7 1 tonne zero tail swing mini-excavator at the show. The DX10Z-7 will form part of an impressive presentation of Develon compact equipment for the gardening and landscaping sectors. The DX10Z-7 will be one of the machines working in the Develon demonstration area, along with the DX100W-7 10.7 tonne wheeled excavator and…
The collaboration between Bahri and Ma’aden will play a crucial role in localizing the maritime industries and contributing to the Kingdom’s economic diversification objectives Bahri, the National Shipping Company of Saudi Arabia and a global leader in logistics and shipping, has signed a strategic Letter of Intent (LOI) with Ma’aden (the Saudi Arabian Mining Company), the largest multi-commodity mining and metals company in the Middle East. This collaboration, inked in the presence of representatives from the Ministry of Investment, aims to establish business integration opportunities between the two national giants aiming to localize the maritime industries and develop resilient supply…
Maersk now anticipates global container market growth to range from 4% to 6% A.P. Moller – Maersk continued to build momentum in the second quarter reporting volume growth across all segments and improved financial performance with EBIT margin reaching 7.5% compared to 1.4% in the first quarter. Results were driven by increased profitability in Ocean, solid growth in Logistics & Services and excellent performance in Terminals. Based on the prolonging of the crisis in the Red Sea and a continued robust market demand, Maersk upgraded its guidance for 2024 on August 1st. “Our results this quarter confirm that performance in…
SIG is a worldwide leader in bag-in-box (BIB) packaging Alesayi Beverage Corporation, a leading beverage manufacturer in Saudi Arabia since 1959 with 60% market share in the energy drinks’ category, is partnering with SIG to expand its product and packaging portfolio. Using a state-of-the-art SIG SureFill 42 Aseptic BIB filling system, Alesayi will launch exciting new products in hotels, restaurants and cafes (HoReCa). For Alesayi Beverages this is a completely new entry into the business with products in bag-in-box packaging, relying on the expertise of SIG who is the global leader in BIB packaging. SIG will initially supply Alesayi Beverages with its SIG SureFill 42 Aseptic filling line, as well as 10L SIG bags…
Al Sharqi Shipping has established itself as a respected and reliable name in the logistics sector in the UAE Al Sharqi Shipping, a leading logistics services UAE, has been awarded the Maersk ECO Delivery CO2e Saving Certificate for 2023, marking a significant step in its commitment to environmental sustainability. Throughout 2023, the company utilized Maersk’s ECO Delivery Ocean services to dramatically reduce its greenhouse gas emissions. The company successfully cut 3,537.33 tonnes of CO2e emissions, representing an impressive 84.64% reduction compared to traditional fossil fuel-based shipping methods. “This recognition from Maersk underscores our dedication to environmentally responsible logistics,” said Asif…
DXB’s initiative boosts the festive vibe, letting travellers enjoy the athletic spirit during their time Dubai International (DXB) is bringing the thrill of the global games to travellers this summer. As Paris welcomes athletes and fans for one of the world’s largest sporting events – and with many of them expected to pass through the airport – the airport has launched its first-ever DXB Games. Turning the world’s busiest international hub into a celebration of sportsmanship and cultural diversity, DXB Terminal 3’s Family Zone transforms into a vibrant sporting arena. From 26 July to 11 August, travellers can dive into…
Euro Auctions continues its global expansion with the first sale in the new corporate HQ in Abu Dhabi attracting a global audience of buyers and sellers to participate in this record-breaking sale Euro Auctions continues to go from strength to strength with the new corporate HQ sale site in Abu Dhabi. This most recent auction showed the interest that Euro Auctions have created in the in the Middle East producing a magnificent result. With the hammer total doubling the revenue over the same sale in June 2023 and increasing the number of vendors by 95%, the number of consignors doubling,…
The partnership represents a shared effort to boost Saudi Arabia’s tourism and entertainment sectors Oil Park Development Company (OPDC), a wholly owned closed joint stock company of the Public Investment Fund (PIF) responsible for developing THE RIG. project, has entered into a Memorandum of Understanding (MoU) with The Helicopter Company (THC), the Kingdom’s leading commercial helicopter operator. This collaboration aims to provide a premium helicopter transport service for visitors traveling to and from THE RIG., the world’s first offshore adventure tourism destination situated in the Arabian Gulf. The agreement signifies a joint commitment to enhancing Saudi Arabia’s tourism and entertainment…