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Baker Hughes is capitalizing on the growing demand for data centers driven by generative AI, offering off-grid power solutions through its NovaLT turbines. The company anticipates significant growth in its Climate Technology Solutions, targeting $6 billion to $7 billion in orders by 2030, while aiming for 20% EBITDA margins by 2026 through improved pricing and productivity.
AliExpress has expanded its local payment options across several African countries, allowing shoppers in Egypt, South Africa, Algeria, Ethiopia, Morocco, and Tanzania to transact in their national currencies. This initiative aims to enhance cross-border e-commerce by reducing transaction friction and improving payment security. The expansion coincides with a major promotional event and is part of AliExpress's broader efforts to improve logistics and customer experience in Africa.
Forbes Middle East has unveiled its Top 40 Asset Managers for 2025, highlighting leaders who collectively managed over $439 billion in assets in 2024. Rashed Sharif of SNB Capital retains the top spot with $63.73 billion in AUM, followed by Mohammed Alardhi of Investcorp at $53 billion. Saudi Arabia dominates the list with 19 representatives, showcasing the region's growing influence in real estate, sukuk, and private equity.
The Arab region's GDP rose by 1.8% to $3.6 trillion in 2024, driven mainly by growth in Saudi Arabia, the UAE, Egypt, Iraq, and Algeria, which account for over 72% of the total GDP. Looking ahead, a positive outlook for 2025 anticipates a growth rate of 2.9%, bolstered by increased oil production and major investments, particularly in Saudi Arabia under the Vision 2030 program.
The Arab region's GDP rose by 1.8% to $3.6 trillion in 2024, driven mainly by growth in Saudi Arabia, the UAE, Egypt, Iraq, and Algeria, which account for over 72% of the total GDP. Looking ahead, a positive outlook for 2025 anticipates a growth rate of 2.9%, bolstered by increased oil production and major investments, particularly in Saudi Arabia under the Vision 2030 program.
OPEC+ has announced an increase in oil production by 138,000 barrels per day starting April 1, 2025, marking its first output hike since 2022. This decision, made during a virtual meeting of eight member nations, is based on positive market conditions and will be flexible to adapt to market stability.Following the announcement, oil prices fell, with Brent crude dropping 2% to below $72 a barrel. The group also committed to compensating for overproduced volumes since January 2024, with plans to complete this by June 2026.
Huawei is set to construct a NPR 484 million ($3.5 million) data center for Nepal Telecom, which includes a primary facility in Kathmandu and a disaster recovery center in Bhairahawa, 265 km away. This initiative aims to modernize Nepal Telecom's data handling and enhance service efficiency, potentially generating income for the company amid declining revenues.
Mr. Shing highlights a significant shift in US energy production, particularly in natural gas, which could reshape trade dynamics with Europe amid rising LNG demand. He anticipates a broadening of US market returns beyond tech stocks, while cautioning about inflation's impact on Trump's presidency and the contrasting economic recovery in southern European nations compared to their northern counterparts. Energy security and the transition to cleaner energy remain pivotal in the global economy.
China has intensified its crackdown on cryptocurrency, implementing new regulations that require banks to monitor and report cross-border crypto transactions, labeling them as risky financial activities. This ongoing hostility towards digital assets has led many crypto firms to relocate, while other countries like Turkey and Egypt have also enacted their own bans, indicating that China is not necessarily a role model but rather learning from global experiences in crypto regulation.
BitOasis, a Dubai-based cryptocurrency trading platform, has secured a full virtual asset service provider license from the Virtual Assets Regulatory Authority, following its acquisition by Indian exchange CoinDCX. This milestone allows BitOasis to enhance its existing services for retail and institutional investors in the MENA region. The firm, which previously held a provisional permit, aims to expand its product offerings and comply with regulatory requirements in the UAE.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
baker hughes expands data center solutions amid rising energy demands
17:15 18.03.2025
aliexpress enhances local payment options to boost e-commerce in africa
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01:00 18.03.2025
middle eastern asset managers shape financial landscape with significant growth and innovation
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08:31 17.03.2025
Arab region GDP grows 1.8 percent to 3.6 trillion in 2024
13:49 16.03.2025
Arab region GDP grows 1.8 percent to 3.6 trillion in 2024
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13:49 16.03.2025
OPEC Plus announces oil output increase of 138000 barrels per day
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06:30 04.03.2025
huawei to establish 3.5 million dollar data center for nepal telecom
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17:48 27.01.2025
energy and technology reshape markets amid shifting global dynamics
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11:35 21.01.2025
China's tightening crypto regulations influence global market but not as a model
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