43% people in Saudi likely to make more cross-border payments in 2023
Riyadh, Saudi Arabia -- Nearly 43 percent of people in Saudi Arabia expect to send cross-border payments more frequently in...
Business
UAE defense conglomerate EDGE signed nearly $2bn in deals
Dubai, UAE -- UAE defense conglomerate EDGE Group has inked deals worth at least $1.8 billion during the Dubai Airshow,...
Business
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...
CEO of Saudi Electricity Company quits from top post
The company appointed vice president as its new head until further notice after Al Sudairi quit citing personal reasons
Saudi company using salt water to grow crops bags $10 million investment
A patented system of solar and growth monitoring technologies allows use of salt water for cooling greenhouses, irrigating crops
Emirates REIT rescinds voluntary consent solicitation
A majority of Sukuk holders voted in favor of solicitation but support fell short of the required 75 percent mark
UK pipeline specialist Stats boosts Qatar operations
Stats started its operations in Qatar, which has the world's third largest gas reserves, in 2011
Opontia raises $20m to acquire, grow MENA e-commerce brands
Opontia said it will use the funds to acquire exceptional e-commerce brands and to invest in a team of experienced...
Jubail island reveals the design of Spanish-inspired, Mediterranean-style villas
The company said with four distinct styles to choose from, the villas provide a range of unique designs to suit...
IFIN launches first-of-its-kind Islamic financing platform
IFIN platform eliminates the need for customers to visit their bank branch to secure finance and provides retailers with an opportunity...
European central bank honchos to wrestle with rising inflation
The ECB's 25-member governing council is widely expected to hold interest rates at historic lows and leave its massive bond-purchasing...
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43% people in Saudi likely to make more cross-border payments in 2023
Riyadh, Saudi Arabia -- Nearly 43 percent of people in Saudi Arabia expect to send cross-border payments more frequently in...
Business
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Ethmar net profit up $114m
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Invictus plans $272m expansion
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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...
Business
Iran not holding direct talks with US on sidelines of UN meet
"Reports that a meeting between Iranian and American officials will be held on the sidelines of the UN General Assembly...
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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.
Business
Iran-European Union trade reaches $2.5 billion in first half of 2023
Tehran, Iran -- Trade between Iran and the European Union member states reached 2.3 billion euros ($2.5 billion) in the...
- Iran-EU trade exchanges declined by 10 percent compared to the last year’s corresponding period.
- Germany, Italy and the Netherlands accounted for most of the export of products to Iran from January to June 2023.