UAE owns 40% of aircraft fleet in Arab region, says ACAO official
Dubai, UAE -- The United Arab Emirates (UAE) holds nearly 40 percent of the aircraft fleet in the Arab region,...
Business
SAMA, Central Bank of China sign $7bn currency swap agreement
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has signed a three-year currency swap agreement with the Central Bank...
Business
Survey: 66% business leaders in Egypt, GCC to invest more in data analytics
Incorta, a US data analytics company, conducted the survey About 153 business leaders in 11 industries from Egypt, GCC took...
Saudi Arabia to hold hacking event in November
@Hack set to be one of the largest cyber security events in the world It will host offensive security hackers...
Survey points to vibrant recovery for global exhibitions industry
Dubai tops list of travel destinations with 83% comfortable traveling to the emirate to attend exhibitions 75 percent of respondents...
Emirates Foundation, BP partner to support mental health initiative
Emirates Foundation is an independent organization that works hand-in-hand with both public and private sector partners to respond to society’s...
Eazy appoints Abdulla Aloqab as Head of Innovation
Earlier, Abdulla Aloqab was an acting head of Innovation at the company He holds an ABET accredited Bachelor of Science...
Sharjah, Guatemala discuss boosting economic ties
They also discussed topics such as stimulating investments in food security, waste management, and natural tourism fields
Saudi Arabia ranks high on global environmental performance
The kingdom ranks 13th globally out of 167 countries on 'Satisfaction with Efforts to Preserve the Environment' indicator
Saudi Aramco meets investors ahead of first dollar Islamic bond sale
World's biggest company mandates Alinma Invest, Goldman Sachs, HSBC, J.P. Morgan for meetings
Tax payers in Saudi Arabia asked to file returns or face action
Withholding tax is deducted from the total income of a non-resident establishment in Saudi Arabia, in return for services it...
Smart robot enters service to sterilize Grand Holy Mosque in Mecca
They have a capacity of 23.8 liters of sterilizers with a consumption rate of 2 liters per hour to eliminate...
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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
UAE owns 40% of aircraft fleet in Arab region, says ACAO official
Dubai, UAE -- The United Arab Emirates (UAE) holds nearly 40 percent of the aircraft fleet in the Arab region,...
Business
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Ethmar net profit up $114m
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Invictus plans $272m expansion
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Saudi Arabia accedes to United Nations’ CISG convention
Riyadh, Saudi Arabia -- Saudi Arabia has officially acceded to the United Nations Convention on Contracts for the International Sale...
Business
Bahrain Central Bank’s $185 million treasury bills oversubscribed
Manama, Bahrain – This week’s BD 70 million ($185 million) issue of Bahrain Government Treasury Bills has been oversubscribed by...
Business
Generative AI likely to supplement than destroy jobs: ILO
Geneva, Switzerland -- Generative Artificial Intelligence (AI) is more likely to augment than destroy jobs by automating some tasks rather...
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ACWA Power announces financial close on $2.4bn Saudi solar projects
Riyadh, Saudi Arabia -- A consortium of ACWA Power and subsidiaries of Saudi sovereign wealth fund, Public Investment Fund, and...
- The projects will generate an aggregate capacity of over 2.6GW of clean electricity for Saudi Arabia.
- The new projects will be jointly owned by PIF subsidiary Badeel (34.99 percent) and ACWA Power (35.01 percent) and SAPCO (30%).
Business
SAB sees $26m negotiated deal
The deal does not directly impact the last deal price.
- A negotiated deal involves a stock purchase based on a bargain between buyers and sellers, apart from the market price, Argaam reported.
- Saudi Awwal Bank reported a net profit of SAR 3.314 billion ($883 million) for the first half of 2023.
Business
NDF helps in financing of US$2.2bn renewable energy project
RIYADH, SAUDI ARABIA - The National Development Fund (NDF) on Sunday said it will contribute US$453 million (SAR1.7 billion) to...
- This is one of the world’s largest renewable energy projects, developed through joint venture by Saudi Aramco, Badeel and ACWA Power.
- NDF's US$453 million financing commitment has attracted local and global banking groups in the Kingdom’s high-growth infrastructure market.