NDMC arranges $2.5bn credit facility
The Shariah-compliant facility spans a tenure of three years.
Business
Two falcons sell for $81,300 at Saudi Falcons Club Auction
Riyadh, Saudi Arabia - Two falcons were sold for a combined total of $81,300 (SAR305,000 ) on the tenth night...
Arts & Culture
Business
Zain KSA shares go up
The stock rose after the transfer of its subsidiary to the PIF.
- The company, formally known as Mobile Telecommunication Co., will transfer 80 percent of its share capital to the acquirers upon completion of the deal
- As per the offer with the PIF, the company will grant the sovereign wealth fund the right to buy the remaining 20 percent stake at a certain amount
Business
Bayanat AI to list shares on ADX
About 77% shareholding will be held by Group 42 Holding.
- About 77 percent shareholding will be held by Group 42 Holding Ltd. on the listing date, provided that the offering shares are fully subscribed
- Bayanat leverages its artificial intelligence and its developmental capabilities to offer differentiated geospatial AI solutions
Business
Sharjah Chamber joins Egyptian Chamber’s centenary event
The Sharjah Chamber of Commerce and Industry participated in the international conference to mark the 100th anniversary of the Egyptian...
- The Chairman of Sharjah Chambers Chairman met a number of officials from various Chambers of Commerce and Industry.
- He also met with representatives of ministries and bodies concerned with economic affairs, unions, and economic organizations from different countries.
Geostrategy
Finance Ministers of UAE, India discuss trade, economic ties
UAE Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini met with India's Minister of Finance Nirmala Sitharaman...
- The meeting sought to discuss means of boosting mutual cooperation between UAE and India in areas of common interest.
- The meeting deliberated the priorities set by India in its upcoming G20 presidency and the ways the UAE can support them.
Business
Reliable Engineering opens plant
The production unit was inaugurated at Hamriyah Free Zone in Sharjah.
- The new facility, which covers an area of more than 150,000 sq feet, caters to the needs of the oil and gas, marine, and oil and wind farming sectors.
- The production lines manufacture up to 500 metric tons of steel per month, by more than 160 employees and specialized technicians.
Economy
Dubai Customs issues authorization certificates to free zone companies
Dubai Customs provides the services and facilities to licensed companies in the free zones of the Emirate to boost investments...
- Dubai Customs facilitates procedures to determine the value of the goods imported by the free zone companies.
- It provides services and facilities to licensed companies in free zones to boost investments and attract more investors.
Economy
Abu Dhabi Foreign Experts Court examines 200 cases
The Foreign Experts Court of the Abu Dhabi Judicial Department (ADJD) has managed to maintain high adjudication rates in the...
- The Foreign Experts Court has achieved a 90 percent disposition rate out of a total number of about 200 commercial cases.
- The panel of the Foreign Experts Court consists of a single judge and two foreign experts.
Business
Saudi to build world-class mining business in cooperation with South Africa
Riyadh, Saudi Arabia-- Saudi Arabia's Deputy Minister of Industry and Mineral Resources for Mining Affairs Khalid bin Saleh Al-Mudaifer said...
- Saudi Arabia expects its mineral wealth to exceed $1.3 trillion as it plans to triple spending on exploration of metals over the next three years.
- Saudi deputy minister Khalid bin Saleh says the two countries will focus on quality of the projects.
Economy
UAE’s minister is new Chairman of WBG-IMF committee
During his two-year tenure, the minister will work with the committee that include ministers, and the Board of Governors of...
- The committee aims to achieve international cooperation and consensus on issues related to development
- Development Committee is a ministerial-level forum that represents the member countries of the WB and IMF
Economy
IMF, Egypt finalize work to reach staff-level agreement soon
Washington, US-- International Monetary Fund and Egyptian authorities have agreed to finalize their work to reach a Staff-Level Agreement very...
- IMF has said the implementation of Egypt's comprehensive structural reform agenda would gradually enhance the competitiveness of the economy.
- The two sides are still in the process of determining the Egyptian exchange rate policies.
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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
NDMC arranges $2.5bn credit facility
The Shariah-compliant facility spans a tenure of three years.
Business
Company News
IDB inks pact with IRENA
Business
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RCU inks pact with Artefact, Dassault Systèmes for AI, digital solutions
ALULA, SAUDI ARABIA – The Royal Commission for AlUla (RCU) has reinforced its commitment to technology innovation and cutting-edge digital...
Business
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Business
KEZAD Group signs lease agreement with Advanced Petro Services
ABU DHABI, UAE - Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the integrated trade, logistics, and industrial hub of Abu...
- KEZAD’s industrial ecosystem is equipped with state-of-the-art infrastructure which perfectly supports Advanced Petro Services’ 24,000 sqm facility.
- The CEO of KEZAD Group said APS is well-positioned to make a significant impact in the broader Abu Dhabi industrial landscape.
Business
Total of 52 MoUs signed in Saudi-Korean Investment Forum
RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here....
- The private sector inked 48 MoUs in sectors ranging from transportation, tourism, energy, technology, infrastructure and cybersecurity.
- The pacts aim to enhance investments between Saudi Arabia and South Korea which reflect the efforts towards collaboration between the two nations.
Business
Nedaa, Dubai Customs ink MoU
MoU to enhance digital solutions for efficiency.
- The MoU will help to integrate efforts and exchange experiences to improve the level of services provided to various groups and segments of society.
- The two parties will focus on developing an operational mechanism aimed at ensuring a reliable and effective communication network for Dubai Customs,