Al Mal Capital REIT to launch rights issue
The fund has an existing portfolio valued at US$158m.
Business
Arab countries public expenditure climbs to US$957.5bn in 2022: AMF
Abu Dhabi, UAE--The total public expenditure of Arab countries combined jumped by 9.8% to $957.5 billion in 2022, compared to...
Economy
Jassim Transport set for Boursa Kuwait listing
JTC is one step closer to being listed on Boursa Kuwait, the country’s stock market It said it was in...
World’s first Warner Bros. themed hotel nearly complete
The $112m hotel set to open this year in Yas Island It will be operated and managed by Hilton under...
Middle East govt entities should digitize services fast
Governments need to build necessary foundations to exchange non-sensitive public data Develop interoperable digital platforms and a broad range of...
DEWA water pipeline extension project worth $69.7 million is 96.4% complete
The AED256-million ($69.7 million) project by DEWA to extend water transmission by 36.6 km across Dubai is a fraction away...
69 percent firms operating in Business Bay commercial: Report
Number of businesses operating in Business Bay reach 17,893 General trade tops the list of licenses activities The number...
Aldar Properties recieve $81.67-million loan from HSBC
HSBC has sanctioned a loan of $81.67 million to Aldar Properties that has its interest linked to achievement of sustainability...
Syrian army shelling kills 9 civilians, 7 of them children
The shelling also wounded around 15 others in several locations of the Jabal al-Zawiya area The UNICEF said the attacks...
8 lakh millionaires in Middle East have $3.2 trillion wealth
Across the region, the population and wealth of HNWIs witnessed a growth of 13.2% and 17.2% The number of millionaires...
Egypt opens strategic Mediterranean naval base
Sisi and his guests witnessed military maneuvers involving several vessels, attack helicopters and fighter jets State-run newspaper Akhbar Al-Youm reported...
Bezos to exit as CEO of Amazon
Bezos, 57, was set to hand over the job of Amazon chief executive on Monday to Andy Jassy He will...
Al Mal Capital REIT to launch rights issue
The fund has an existing portfolio valued at US$158m.
Business
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Bank of China opens in Riyadh
Business
Treaty on strategic partnership between Russia and Iran 85% ready: Lavrov
Tehran, Iran--A treaty on comprehensive strategic partnership between Russia and Iran is about 85 percent ready, Russian Foreign Minister Sergey...
Geostrategy
UAE and Canada review bilateral ties at first joint-committee meeting
Abu Dhabi, UAE-- The UAE and Canada have reviewed bilateral ties at the first joint committee meeting in Abu Dhabi...
Geostrategy
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Business
PIF and Hyundai to set up JV vehicle-manufacturing plant in Saudi Arabia
Riyadh, Saudi Arabia--The Public Investment Fund (PIF) and Hyundai Motor Company (Hyundai) have signed a joint-venture agreement to establish an...
- The investment in the joint-venture project is expected to exceed $500 million with PIF to hold 70 percent stake and Hyundai the remaining 30 percent
- The JV project will speed up Saudi Arabia's automotive industry in addition to creating thousands of jobs and allowing for the transfer of knowledge and expertise
Business
EHS and Burjeel Hospital for Advanced Surgery sign MoU
Dubai, UAE--Emirates Health Services (EHS) and Burjeel Hospital for Advanced Surgery have signed a memorandum of understanding (MoU) to bolster...
- The MoU is designed to improve the delivery of health services in government schools in accordance with sustainable development goals in public health
- Both the sides maintained that the objective is to strengthen cooperation between the EHS and Burjeel Hospital for Advanced Surgery in healthcare and continuous development
Business
New CEO appointed in SRC
Majeed Al Abduljabbar will be the CEO from January 1, 2024.
- Al Abduljabbar has been working in the banking sector for over 15 years, including in the HSBC Bank in London.
- He also contributed to establishing the Department of Innovative Investment Solutions at SABB (now SAB).