FDI inflows into Saudi Arabia fall 14.4 percent in third quarter: GASTAT
Riyadh, Saudi Arabia -- Foreign Direct Investment inflows into Saudi Arabia hit SAR 17 billion in the third quarter of...Business
The DCO Council announces multilateral initiatives to bridge digital divide
Manama, Bahrain - The Digital Cooperation Organization (DCO), a global intergovernmental organization dedicated to fostering digital prosperity for all by...Business Tech & Media
Saudi Arabia to issue second local sukuk for the year
For the second time this year, the Saudi government will issue riyal-denominated sukuk for the year, seeking to take advantage...The local issuance comes amid rising demand for both international and domestic fixed income markets that provide safe and guaranteed returns
Countries are resorting to fixed income instruments to settle budget obligations in a bid to fuel economic recovery
YGS awarded $247m mandate
The company will provide enhanced managed services to the UAE government.The agreement augments the previous operations and maintenance services provided, to include technology management support, from Jan 2022 until the end of 2026.
Yahsat has been providing operations and maintenance services since 2011 on its first two satellites, Al Yah 1 and Al Yah 2.
Nawy raises $5m in funding
Nawy, a Cairo-based property dealer, obtained a seed funding round of $5 million, led by the Sawiris family office.Nawy is focused on capitalizing on digital technologies and expanding the business to create an informed and transparent decision-making process for its customers
“We were one of the initial investors in Nawy because we saw the company's potential,” said Onsi Naguib Sawiris, who leads the family office
Apollo to invest in Aldar
Apollo-managed funds and clients will invest $1.4bn in Aldar.A total of $500 million would be invested into a land joint venture, $500 million are meant as perpetual Subordinated Notes issued by Aldar Investment Properties.
Aldar said the land joint venture will allow it to realize long-term value tied up in its vast landbank while maintaining flexibility to develop or sell the land.
Jafza’s AED3.5bn food valley set to attract companies at Gulfood 2022
Jafza is home to some of the world’s leading brands, including Unilever, Nestle, Heinz, McCain, Hunter Foods, Alokozay Group of...Jafza is home to some of the world’s leading brands, including Unilever, Nestle, Heinz, McCain, Hunter Foods, Alokozay Group of Companies, Al Khaleej Sugar, Bayara, to name a few
The F&B markets account for an annual increase of 3.8 percent, and the Middle East and Africa region are positioned as global gateways for Halal industries
JEA to provide jobs for Jordanian engineers in KSA
One in every 40 Jordanians is an engineer, making Jordan the country with the most engineers per capita globally.One in every 40 Jordanians is an engineer, making Jordan the country with the most engineers per capita globally
Ahmad Zu'bi, who is the President of the Jordan Engineers Association, said Saudi Arabia and its companies in various engineering fields appreciate Jordanian engineers
DEWA expands fibre optic ducts
The company lays 394 kms of Fibre Optic ducts in 2021.The company increased the total length of these cable ducts since 2015 and until the end of last year to 3,275 kilometres
The external FO ducts protect and direct all Fibre Optic Cables in communication, data transfer and remote operations.
Gourmet meals spawn $59bn Saudi food industry
More than 50,000 coffee shops and restaurants scattered all over the kingdom help Saudi economy relish growth on the back...Last November, the Saudi Central Bank said that consumers in the kingdom spent more than $320 million on F&B, followed by $320 million on cafes and restaurants
According to the Saudi Ministry of Commerce statement, the ministry granted 7,322 business licenses in the restaurant and cafe activities alone last year
East Pipes to list on TASI
The offer comprised a total of 6.3 million shares.This came after the initial public offering of the company was 71.8 times oversubscribed, setting the final offer price at SR80 ($21.3)
SNB Capital, as the financial advisor of the offer, led the book-building process, which started on Jan. 11 and ran through Jan. 17
Bangladesh aiming at direct shipping line to UAE for faster connectivity
Bangladesh wants to establish a direct shipping line with the UAE, which will reduce the existing navigation time by two...Foreign Minister of Bangladesh AK Abdul Momen, on a four-day official visit to the UAE, said Bangladesh is keen to utilize the UAE’s expertise in port management.
The bilateral trade between two countries in 2021 stood at $1.8 billion, Momen said, adding that a direct shipping line would help multiply it several times.
