Oil giant Aramco says to offer shares worth over $10 bn on Saudi bourse
Riyadh, Saudi Arabia - Oil giant Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than...Business
Saudia Group in ‘landmark’ deal for 105 Airbus planes
In a wide expansion of aviation services, Saudi Arabia's top airline Saudia Group has place an order of 105 aircraft...Business
Sharjah records real estate deals worth $517 million in July
Sharjah, UAE -- Sharjah has recorded real estate transactions worth AED1.9 billion ($517 million) during July 2023, according to the monthly...The department executed a total of 2,783 transactions, including 684 sales transactions across 96 areas in various regions of the emirate.
The number of mortgage transactions were 447, constituting 16.1 percent of the total number of transactions with a value of AED420.1 million.
DP World H1 EBITDA $2.6bn
The company's revenue grew 13.9 percent to $9.03 billion.CEO Sultan Ahmed bin Sulayem said the company's balance sheet remains robust, and it continues to generate high levels of cash flow.
DP World's focus on high-margin cargo, end-to-end bespoke supply chain solutions and cost optimization has been crucial in securing these results.
Ooredoo partners with Tech Mahindra, Google Cloud
Doha, Qatar - Ooredoo Group has announced new partnerships with Tech Mahindra and Google Cloud that will see the company...Ooredoo's IT operations will be modernized by deploying a digital platform-based approach, which will enhance performance
Tech Mahindra is an Indian multinational information technology services and consulting company
Disparity remains as Saudis, Emiratis see wealth gains
The financial landscape of Saudi Arabia and the UAE is undergoing a significant transformation, with most adults in the region...The net worth per adult in Saudi Arabia surged by an impressive 8.6 percent in 2021, followed by a 6.6 percent increase in 2022, both measured in US dollars.
The Gini coefficient for wealth inequality in 2022 was 86.7 in Saudi Arabia and 86.9 in the UAE, placing both nations among the highest in global wealth inequality rankings.
ADNOC Gas signs 5-year LNG supply pact with Japanese energy company
Abu Dhabi, UAE - ADNOC Gas, an integrated gas processing company, on Thursday announced a five-year liquefied natural gas (LNG)...The agreement, valued between $450 million and $550 million, builds on the long-standing bilateral relationship between the UAE and Japan
The pact reinforces ADNOC Gas’ position as a global LNG export partner of choice and highlights the company’s growing global presence
Saudi economic support vital for progress in various sectors: Yemen PM
Aden, Yemen--Yemeni Prime Minister Maeen Abdulmalik affirmed that the economic support Saudi Arabia provides to Yemen represents a vital factor...The prime minister said during a cabinet meeting the kingdom's support strengthens the Yemeni government's effort to achieve economic stability
The kingdom early this month endorsed a $1.2 billion grant to Yemen’s internationally recognized government to prop up the country’s flagging economy
Meeza to list on QSE
Its shares will begin trading on the bourse later this month.The company recently obtained the approval from the Qatar Financial Markets Authority (QFMA) and the QSE's board for a listing on the exchange
The company's price will be floated on the first day of the listing and from the second day it will be allowed to fluctuate by 10% up or down
Saudi, Chinese companies, banks sign 12 pacts worth $1.33bn
Beijing, China - Saudi Arabian and Chinese companies and banks on Wednesday signed 12 agreements involving an investment exceeding $1.33...The two countries focused on strengthening partnerships in urban infrastructure, housing, real estate development, and financing
Saudi Ministry of Municipal, Rural Affairs, and Housing is currently working with several Chinese companies on housing projects worth $800 million
DWTC’s hospitality branch growth up
The division recorded 32% growth in H1 of 2023.Apart from proving its culinary strength with a 32% growth, the division recently won a big haul of medals at Emirates Salon Culinaire 2023
Its kitchen recently received grade A rating from Dubai Municipality and certifications from Hazard Analysis and Critical Control Points
GSA discusses cooperation with IIHF, ISU to boost winter sports in UAE
Dubai, UAE-- The UAE's General Sports Authority (GSA) and the International Skating Union (ISU) and International Ice Hockey Federation (IIHF)...The discussion between officials touched on ways to develop the rules and regulations for ice sports leading to the promotion of winter sports in the UAE
Sheikh Suhail bin Butti Executive Director of the Sports Development Sector at GSA said that the UAE intends to host international winter sports championships
