SAMA: E-payments share reached 70% of total payments in 2023
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) announced on Monday that the share of retail consumer electronic payments...
Economy
Global football stars choose Red Sea destination for holiday
TABUK, SAUDI ARABIA – A few days ago, the Red Sea destination hosted several international football stars from Saudi Pro...
Business
Delivery of 500 condos built by Azizi Developments will be made next month
The residential units comprise 334 studios, 48 one- and 94 two-bedroom apartments, and 10 spacious, luxurious sky villas The condominiums...
Alpha Dhabi Holding acquires key UAE hospitality group
Murban is a leading investment company based in Abu Dhabi with Dh1.7 billion in equity The acquisition will help accelerate...
Dubai airshow participants optimistic about post-Covid recovery
Technologies, solutions that can help the aviation sector to overcome the Covid-19 crisis showcased Sheikh Ahmed bin Saeed Al Maktoum,...
ADNOC raises $1.64 bn from share, bond offering
The Combined Offering results in proceeds of $1.64 billion for ADNOC ADNOC will retain at least a 70 percent strategic...
ADIB finances Rasmala for Tesco supermarket acquisition
The property, constructed in 2012, extends to 100,365 sq ft ADIB offers Sharia-compliant property financing solutions Abu Dhabi Islamic Bank...
ADGM Office of Data Protection signs MoU with Jersey Data Protection Authority
The MoU will help protect the personal data of individuals in both jurisdictions ADGM recently updated its data protection framework ...
Saudi companies spend 7% of the country’s GDP on Capex
Saudi companies invested around $47 billion in 2020 on their Capital Expenditure The move to leverage opportunities to diversify economy...
UAE ranks high on global govt development indices
The first globally on the Absence of Bureaucracy Index The second globally on the Adaptability of Government Policy Index The...
Automotive industry on path to recovery: Experts
Digitally-enabled experiences and services to evolve customer expectations Full recovery of the industry expected by 2025 as post-pandemic confidence grows...
Saudi Arabia’s used car market shows signs of recovery
Ken Research study says oil-rich kingdom's used car market is growing again after a decline in growth in 2016. The...
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SAMA: E-payments share reached 70% of total payments in 2023
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) announced on Monday that the share of retail consumer electronic payments...
Economy
Company News
Rani R Raad is new CEO of IMI
Business
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stc buys stake in Telefónica
Business
No-oil trade between UAE, Jordan reached $4.5 bn in 2022
Abu Dhabi, UAE - The non-oil trade volume between the UAE and Jordan has reached AED16.5 billion ($4.5 billion) in...
Economy
Houthi missile, drone attacks at Israel create spillover fears
Dubai, UAE - The Houthi movement, which is part of the "Axis of Resistance" supported by Iran, has expressed its...
Business
Around 420 children killed or injured in Gaza daily: UNICEF
Rabat, Morocco - On average, around 420 children are killed or injured every day in Israel’s attacks on the Gaza...
Geostrategy
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Geostrategy
Biblical-scale catastrophe unfolding in Gaza Strip: Russia’s UN envoy
United Nations, New York - A humanitarian catastrophe on a biblical scale is unfolding in the Gaza Strip, Russia’s Permanent...
- The number of fatalities in the enclave has surpassed 8,000 people, half of whom are women and children, the envoy pointed out
- Over 2,000 people remain under the rubble, more than 21,000 sustained wounds while internally displaced people number 1.6 million, he added
Geostrategy
Saudi civil aviation authority announces economic policy of sector
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) has announced the economic policy of the civil aviation...
- The economic policy aims to increase the operational performance of the Kingdom's airports and improve the performance of national carriers.
- This is to help change the Kingdom into a global destination for transport and shipping services by providing infrastructure attractive to foreign investment.
Business
Borouge reports 22% Q3 2023 net profit
The company has issued a dividend of $1.3 billion.
- Borouge’s Value Enhancement Programme delivered a $420 million positive impact in the first nine months of 2023
- The company has issued a dividend of $1.3 billion for the 2023 financial year, which equates to a 6.3% current dividend yield