SEVEN to build $347m entertainment destination in Saudi Arabia’s Aseer
Riyadh, Saudi Arabia -- Saudi Entertainment Ventures (SEVEN), a PIF subsidiary, has announced the fifth entertainment destination in the Kingdom,...
Business
Dubai records weeklong real estate deals worth $2.45 billion
Dubai, UAE -- A total of1,852 real estate transactions valued at more than AED 9 billion ($2.45 billion) were conducted...
Business
Mishal Al-Hokair to head MENA’s Leisure and Attractions Council
Al-Hokair, a Saudi national, brings new industry insights to the board  MENALAC represents the leisure, entertainment and attractions industry in...
New FAO Strategic Framework to drive shift in agri-food systems
20 Programme Priority Areas were identified that are inter-disciplinary, issue-based technical themes Members stress the importance of promoting innovation, digital...
UAE GDP to grow by 2.4% in 2021, 3.8% in 2022: Central Bank
Pandemic resulted in banks’ higher impairment charges, lower operating income and reduced profitability The report demonstrates that the UAE banking...
Sojern’s Co-Op solution helps Abu Dhabi boost tourism recovery
Abu Dhabi hotels increase direct bookings through a targeted, digital display and social media advertising campaign DCT Abu Dhabi has...
UAE interbank rates up replicating US Fed’s move
The move comes after the US Federal Reserve increased the interest on excess reserves by 5 bps In the UAE,...
Saudi Arabia, Estonia strengthen partnership in digital govt, economic fields
Estonian exports to Saudi Arabia totaled $80 million in 2020 Estonian delegation presented a workshop aimed at consolidating frameworks of...
Dar Al Arkan launches 3D construction tech in Saudi Arabia
Dar Al Arkan tied up with Danish 3D construction printer company Cobod The first 3D construction printed house would be...
Consortium featuring Qatar Petroleum wins 2 offshore exploration blocks in Suriname
The consortium now has the rights to explore Blocks 6 and 8 adjacent to the prolific Block 58 discoveries Qatar...
Dubai records 4,429 real-estate transactions worth more than $3 billion in May
This was Dubai’s highest total sales transaction value in the sector since March 2017 $12.85 billion worth 20,989 real estate...
Abu Dhabi to get a Small Claims Court soon
The court can settle civil, commercial and labor disputes The final decisions of this court rendered at the same hearing...
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
SEVEN to build $347m entertainment destination in Saudi Arabia’s Aseer
Riyadh, Saudi Arabia -- Saudi Entertainment Ventures (SEVEN), a PIF subsidiary, has announced the fifth entertainment destination in the Kingdom,...
Business
Company News
Bank Albilad H1 profit up 14%
Business
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Strong growth key to GCC’s FDI appeal
Infographics
Saudi hosts AlUla Desert Blaze, the toughest run in GCC region
AlUla, Saudi Arabia -- AlUla Desert Blaze, a unique running challenge, which kicked off on Saturday and saw participation of nearly 200 male and female...
Arts & Culture
AviLease acquires aircraft leasing platform
The $3.6bn deal will see AviLease acquire a portfolio of 100 aircraft.
Business
Saudi Arabia and Iran invited to Moscow-led defense bloc’s military drills
Moscow, Russia -- Collective Security Treaty Organization (CSTO) member states have invited observers from Saudi Arabia, Iran, China and Mongolia...
Geostrategy
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Business
$202m contract signed for Jeddah project
The contract involves MEP works for Al Muhammadiyah Hospital.
- The contract was signed between Zamil Air Conditioning and Refrigeration Services Co. Ltd. and Al Muhammadiyah Hospital for Healthcare Co.
- Sulaiman Al Habib plans to finance the project from its own resources and Shariah-compliant long-term bank loans.
Business
PIF-backed oil driller ADES International Holding announces IPO
Riyadh, Saudi Arabia -- ADES International Holding, an oil and gas driller backed by Saudi Arabia’s sovereign wealth fund, PIF,...
- The offer will comprise 338.7m shares-- 101.62m by ADES Investment Holding, PIF and Zamil Investment, and 237.10m new shares.
- The price range will be announced September 18 and the final offer price will be announced after a book-building process.
Geostrategy
BRICS to coordinate approaches with new members within UN, G20: Lavrov
The BRICS summit, which held in Johannesburg from Aug 22-24 agreed to admit Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and...
- Lavrov said BRICS leaders deal with real issues while Western politicians and reporters "tend to mostly wag their tongues".
- The expanded BRICS’ positions in the Group of Twenty will strengthen because both Saudi Arabia and Argentina are its members, he said.