Saudi Arabia to return to growth in 2021 and fiscal deficit to narrow, says S&P

Dubai: The Saudi economy is forecast to return to growth trajectory in 2021, credit rating agency Standard & Poor’s said while affirming the Kingdom’s credit rating. “We are affirming our ‘A-/A-2’ long- and short-term sovereign credit ratings on Saudi Arabia. The outlook is stable. We also forecast the current account to return to surplus and […]

ION installs ultra-fast electric vehicle charging stations in Abu Dhabi

Abu Dhabi: ION, the UAE-based sustainable transportation joint venture between Bee’ah and Crescent Enterprises, has installed high-power, ultra-fast charging stations with a total capacity of up to 350KW, on Yas Island, Abu Dhabi. Capable of charging electric vehicles (EV) through a connection to a user interface unit, the stations can supply combined charging system (CCS) […]

Ship blocking Suez Canal like ‘beached whale’ could be stuck for weeks

Ismailia, Egypt: A container ship blocking the Suez Canal like a “beached whale” may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback for global trade. The 400m Ever Given, almost as long as the Empire State Building is high, is blocking […]