61 contracts worth $7billion signed at World Defense Show in Riyadh
Riyadh, Saudi Arabia - About 61 purchase contracts totaling approximately SR26 billion ($6.93 billion) were signed at the second World...Business
Aldar net profit $1.19bn
Expanded investment and record development sales boosted profit.Company News Business
Post Covid, shopping centers in UAE adopt experiential community approach to attract customers
Through the new concept, retailers and shopping centers in the Gulf country are giving a customer a whole experience, in...Through the new concept, retailers and shopping centers in the Gulf country are giving a customer a whole experience, in some cases both in-store and online
The experiential community strategy involves getting businesses via flexibility, where brands can stay for a period and decide whether to remain permanently.
Saudi Center for Debt Management invites investors for bond repurchase
Riyadh, Saudi Arabia---Saudi Arabia’s National Center for Debt Management announced Wednesday that it has invited investors for the first partial...The Center said the process is part of the kingdom’s plan in the effective management of the debt portfolio.
The size of the repurchase will be announced after the end of the period of receiving applications on October 24.
ENOC opens new station in Al Hamriya Port
This would be the eighth marine service station in the emirate.The station is equipped with two fuel tanks and two fuel dispensers, offering Diesel, as well as a prefabricated structure featuring a ZOOM convenience store.
ENOC said the station is equipped with energy efficiency features such as Variable Refrigerant Flow (VRF) air-conditioning to cut down electricity use by up to 35 percent.
Mubadala acquires stake in Skyborn
Skyborn Renewables is the world’s largest private offshore wind developer.The investment by Mubadala also includes the acquisition of a stake in GIP’s 50 percent interest in NY Bight Project called Bluepoint Wind.
In April this year, Mubadala was part of a BlackRock Real Assets-led consortium which agreed to invest $525 million into the renewable energy arm of India’s Tata Power.
Video: Transparency is hallmark of TOP CEO Awards as GCC winners get honored
From among a small pool of short-listed CEOs of listed firms, each winner was picked on the basis of growth,...For the process not only to be fair and trustworthy, but also to be seen as such, another layer of transparency and accountability was added by roping in iNseaD business school
Global auditors were also brought in to ensure full transparency in the work
Aramex acquires eCommerce enabler MyUS
The acquisition integrates MyUS into Aramex’s business.The acquisition paves the way for MyUS’s integration into Aramex’s business, operating as a business unit within the Company’s Courier business segment
MyUS will retain its brand name and will be complementary to Shop & Ship, Aramex’s subscription based last mile e-Commerce solutions platform
Netflix subscriber base grows after chilly start to year
The company said it ended the third quarter with slightly more than 223 million subscribers worldwide, up some 2.4 million,...Netflix reported a quarterly profit of $1.4 billion on revenue of $7.9 billion -- a net income slightly less than in the same period a year ago when it brought in more money
With the launch of cheaper, ad-supported subscriptions, Netflix and Disney+ are expected to bite into the revenue of traditional television channels
Sipchem posts jump in profit
It recorded a 37% increase in net profit to $800m.The company said in a bourse filing that it had recorded a profit of $533 million for the same period a year earlier
Yet the petrochemical maker's stock declined 1.42 percent to touch $11 at the close of Tuesday
New technologies bolster GCC-Asia trade relations
Beyond oil and gas, Gulf companies have made some strategic investments in sectors with strong potential for growth, including fintech,...GCC and Asian countries are benefitting from technological advancements, which has potential to make cross-border trade more efficient, inclusive and equitable for SMBs.
Gulf countries, led by the UAE and Saudi Arabia, have been investing in Asian technology companies and incentivizing them to launch operations in the region, says an expert.
Morocco and EU sign ‘green partnership’ deal
Aiming to bolster cooperation on renewable energy, Morocco and the European Union have signed a "green partnership" deal in order...Bourita said that the "harsh international reality has shown, both in Europe and in North Africa, that when it comes to energy, it is reliability and only reliability that counts"
The memorandum of understanding signed on Tuesday is set to boost cooperation on energy and the fight against climate change, with private sector involvement
