Societe Generale to slash 900 jobs
The bank employs 117,500 people around the globe.Business Banking & Finance
Use of DEWA’s electric-vehicle green chargers up 59% in 2023
Dubai, UAE -- Dubai Electricity and Water Authority (DEWA)’s EV Green Charger initiative witnessed a 59 percent increase in the...Business Energy
GCC looks to ease fiscal burden with privatization
The privatization move will also help the regional governments in maintaining better economic growth, increasing private participation and attracting foreign...Planning, executing, and concluding are the three primary stages of privatization
The privatization process in Kuwait will expand to 38 government institutions and activities
P&O Ferries suspends passenger and freight ships, denies bankruptcy
DP World-owned P&O Ferries on Thursday suspended its passenger and freight ships but denied the group was heading into bankruptcy....P&O Ferries operates four routes serving Britain, France, Ireland and the Netherlands.
The company is badly hit by fallout from COVID-19 lockdowns and travel restrictions over the last two years.
Emirates Steel exports up 50 percent
The firm's capacity is enough to meet the domestic market's demand.The countries where Emirates Steel exports its products increased to 56 in 2021 in comparison to just 38 in 2019.
Emirate Steel's expansion strategy is aligned with the National Strategy for Industry and Advanced Technology' Operation 300bn.
Al Hamra to launch $270m project
The villa project is located within the Al Hamra Village residential community.This idyllic island community project offers views of the turquoise Arabian Gulf and the lagoon.
Falcon Island is set to be completed within two years of its launch, which will be implemented in phases.
KSA is Austria’s main trading partner in Gulf: Official
The commercial exchange between Saudi Arabia and Austria has grown from around SAR 1.8 billion ($479 million) in 2005 to...The commercial exchange between Saudi Arabia and Austria has grown from around SAR 1.8 billion ($479 million) in 2005 to almost SAR 3.3 billion in 2020.
An Austrian delegation of companies specialized in various economic, industrial, agricultural, tourist and other sectors visited the Asharqia Chamber.
GCC retail electronics set for boost as buyers return
The retail electronics sector has proliferated in GCC countries, with demand rising not only due to the urge to own...In 2020, the global consumer electronics market was expected to generate revenues of $1.4 bn, with a CAGR of 4.6%
The retail electronics market reached over $1 bn globally in 2022, and is expected to grow by 1.82% annually
Binance awarded specialist license by Dubai’s Virtual Asset Regulatory Authority
Under the Virtual Asset Regulatory Authority (VARA) initial regulatory phase, Binance will be permitted to extend limited exchange products and...Under the Virtual Asset Regulatory Authority (VARA) initial regulatory phase, Binance will be permitted to extend limited exchange products and services to pre-qualified investors
The VARA issued Virtual Asset Exchange License ensures Binance will be able to operate its regional business from Dubai in the newly announced regulatory ecosystem
NDMC of Saudi Arabia closes $2.75bn worth March sukuk
Saudi Arabia’s National Debt Management Center has closed the March 2022 issuance of Saudi riyal-denominated sukuk, valued at SR10.3 billion...The issuance is divided into two tranches of SR3.5 billion and SR6.8 billion each
The first issuance matures in 2030 while the second one will mature in 2034
Fintech opens center in Riyadh
It is a first-of-its-kind center in King Abdullah Financial District.This follows an increased number of fintech companies in the region
Saudi had witnessed a massive jump in venture capital investments in the fintech sector
Saudi Electricity Co. posts 375% jump in net profit to $3.84bn
The Saudi Electricity Co. has posted a 375 percent increase in net profit to $3.84 billion in 2021, according to...The increase has been attributed to continuous “implementation of regulatory and financial reforms in the electricity sector"
the company’s board has proposed an annual dividend payout of SR0.7 per share
