Salini awarded $600m contract for 400 retail units in Diriyah Square
Riyadh, Saudi Arabia -- Diriyah Company has announced the award of a major new $600 million (SAR2.249 billion) contract for...
Business
Iran voices ‘serious doubts’ over Israel’s commitments, including the ceasefire
Iran also writes to the UN chief to recognize the Israeli regime and the United States as the "initiators of...
Geostrategy
Business
‘Introducing insurance share to beneficiaries is important privilege’
ABU DHABI, UAE - Insurance shares distributed among beneficiaries is one of the most essential privileges in the Federal Law...
- The authority said that shares are distributed to the daughter, sister or mother if they are widowed or divorced and to the son or brother if they are disabled.
- Pension shares are distributed to the heirs once the pensioner is deceased, given that those heirs do not earn a salary or receive their own pension.
Economy
ADDED digitally links freezones in Abu Dhabi
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) has completed the e-link project with four freezones...
- The e-link with freezones helps in providing info and data of the beneficial owner of economic establishments in line with laws and regulations in the UAE.
- They will enhance the country status in following highest level of international standards of transparency and governance.
Economy
Saudi fund deposits $237m into accounts of housing beneficiaries
Riyadh, Saudi Arabia---Saudi Arabia has deposited 891 million riyals in subsidy to the beneficiaries of a housing program, Iskan, aimed...
- The subsidy for the month of November was deposited into the accounts of the Sakani beneficiaries by the Real Estate Development Fund.
- Since the launch of the program in June 2017, a total of 42.6 billion riyals has been provided to its beneficiaries.
Economy
Tourism recovery reaches 65% of pre-pandemic levels
An estimated 340 million international arrivals were recorded in the third quarter of 2022 alone, almost 50% of the nine-month...
- An estimated 340 million international arrivals were recorded in the third quarter of 2022 alone, almost 50% of the nine-month total
- Travel was boosted by strong pent-up demand, improved confidence levels and the lifting of restrictions in an increasing number of destinations
Business
KEZAD Group breaks ground on UAE’s largest e-commerce fulfilment centre
The 252,000 square metre fulfilment centre facility is being designed and developed by KEZAD Group under a Build-to-Suit agreement.
- The 252,000 square metre fulfilment centre facility is being designed and developed by KEZAD Group under a Build-to-Suit agreement
- KEZAD Group is the integrated trade, logistics, and industrial hub of Abu Dhabi and a fully-owned subsidiary of AD Ports Group
Business
KIPCO merges with QPIC
It will now trade on Boursa Kuwait under KPROJ.
- KIPCO's authorized, issued and paid-up capital now stands at $1.55 billion distributed over 5.048 billion shares
- KIPCO's market capitalization is now over $1.94 billion, it said, adding that the combined portfolio would further diversify revenue streams
Geostrategy
Future depends on measures we take today: UAE envoy
"Both of our national leaders (in the UAE and China) are keenly aware of the fact that, as two advanced...
- It is especially incumbent upon us to be active global stakeholders at this precarious time, says Ali Obaid Al Dhaheri, UAE Ambassador to China
- "It is worth noting the geographical scope of recent climatic cataclysms to remind ourselves this is a responsibility we all share," says the UAE envoy
Business
AD Ports to conduct ‘joint training exercise’ at Delma Port
Abu Dhabi, UAE— AD Ports Group will conduct a joint training exercise at Delma Port on November 24. The exercise,...
- Thirteen government entities are scheduled to participate in the joint exercise, in addition to some entities from the private sector
- It will enhance the capabilities of AD Ports Group and other participating entities for addressing potential risks in incidents that require a coordinated response
Economy
Aircraft orders drive US manufactured goods demand
A pick-up in aircraft orders boosted demand for big-ticket US manufactured goods in October, with numbers rising more than expected,...
- Orders for defense aircraft and parts soared 21.7 percent from September to October.
- Surging inflation in the United States and supply chain problems have proven a challenge to industry and consumers.
Geostrategy
Jordan, Egypt discuss various aspects of transportation
ALEXANDRIA, EGYPT - Jordan's Minister of Transport Maher Abu Al-Samen discussed with his Egyptian counterpart Kamel Al-Wazir ways and means...
- The talks were held on the sidelines of the Council meeting of Arab Transport Ministers in Alexandria, Egypt.
- Jordan's minister hailed the constructive meeting of Arab Transport Ministers.
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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
Salini awarded $600m contract for 400 retail units in Diriyah Square
Riyadh, Saudi Arabia -- Diriyah Company has announced the award of a major new $600 million (SAR2.249 billion) contract for...
Business
Company News
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Tabreed 9M profit at $218m
Business
Saudi Arabia signs MoUs with four countries for development in mining industry
RIYADH, SAUDI ARABIA – The Ministry of Industry and Mineral Resources has signed four Memorandums of Understanding (MoUs) with the...
Geostrategy
FAB issues first Sukuk globally in 2024
ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...
Business
UAE economy likely to grow by 3.8 percent in 2025, says World Bank
WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to...
Economy
Most Read
Geostrategy
Israel is starving Gaza residents, says NGO
RAMALLAH, PALESTINIAN TERRITORIES - Everyone in Gaza is going hungry and about 2.2 million people are surviving day by day...
- The NGO said that Gaza Strip was already in the throes of a humanitarian crisis before the war, mainly due to Israel’s 17-year blockade.
- Given this starting point, it is clear as to why the Gaza Strip plummeted into a full-blown catastrophe so quickly.
Geostrategy
Saudi Arabia, Belarus ink MoU to boost trade, investment
RIYADH, SAUDI ARABIA - The Federation of Saudi Chambers and the National Center for Marketing and Price Study at the...
- Under the pact, the two parties will exchange information related to trade, business environment, investment, production and export opportunities.
- The two parties will organize joint research activities pertaining to marketing to enhance trade prospects and explore ways of improved cooperation.
Business
Baims acquires Orcas Edtech
The firm plans to incorporate one-to-one tutoring services.
- Baims specializes in providing online tailored recorded courses for university students in Saudi Arabia, Kuwait, Bahrain, and Jordan.
- Capitalizing on its market share in Saudi Arabia, Baims is poised to launch a specialized AI-driven test preparation product.