stc Group inks several pacts
The pacts were signed at the PIF’s Private Sector Forum.Company News Business Economy
SMEH of Saudi Arabia fixes price range for IPO
Scientific and Medical Equipment House of Saudi Arabia has set a price range between $12-13.9 per share for its offer...The book-building period for participating entities will run from Jan. 17 to Jan. 27, 2022, a bourse statement by the offering’s book-runner, Alistithmar Capital, revealed
Shares devoted to participating entities will stand at 6 million shares, representing the full offering of 30 percent of the company’s capital
Sharjah Publishing City Free Zone registers 2,000 new companies in 2021
A total of 2,000 new companies from 106 countries registered with the Sharjah Publishing City Free Zone (SPC Free Zone)...Most of these companies were from the UK, India, Pakistan, the Philippines, and Lebanon.
SPC provides 600 furnished offices for publishing entrepreneurs and 6,000 square meters of space for investors.
Dubai eyes top global livability spot
DET and HSBC Bank Middle East have signed a Memorandum of Understanding (MoU), paving the way for increased cooperation in...Under the terms of the agreement, DET and HSBC will promote to HSBC customers and employees the unparalleled quality of life in Dubai
The MoU was signed by Issam Kazim, Chief Executive Officer, Dubai Corporation for Tourism and Commerce Marketing; and Abdulfattah Sharaf, CEO of HSBC UAE
Production capacity of Al Maktoum Solar Park’s fifth phase up by 30MW
The production capacity of the first project of the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park...The increased production results from using the latest solar photovoltaic bifacial technologies.
The 900-megawatt fifth phase, with investments of AED 2.058 billion, is 60 percent complete.
Securrency Capital picks advisor
Ryan Lemand has joined the brokerage as a board advisor.Lemand holds a PhD in financial econometrics, and is the author of two books on financial contagion
Securrency Capital is a blockchain-enabled brokerage providing access to trading in traditional and digital assets
GCC markets remain mixed amidst Omicron woes
Despite an increase in Omicron cases across the world, investors remain confident in the Saudi stock market. The UAE markets,...The volume of traded shares on Tadawul reached 197 million through more than 340,000 deals
Stock markets in the UAE ended in the red on Friday, mirroring weakness in Asian peers
No suspension of flights, says Iraq’s civil aviation authority
"There is no suspension of flights in accordance with the instructions and directives", an official confirmed.The Supreme Committee for National Health and Safety issued several decisions, including instructing departing and arriving travelers
The Aviation Authority will notify the companies of presenting the international vaccination card for departures and arrivals with a (PCR) examination (72) hours before the flight
Residential areas in focus as real estate prices surge in Kuwait
The real estate housing price rose in Kuwait last year, where investors focused on Kuwaitis' residential areas dealing in uninhabited...Some residential districts, mainly inhabited by citizens, witnessed more than 35 percent rise in rates of the plots, leading to record growth of property assets
The investors sold 375-square-meter houses in Kuwaiti's residential districts such as Al-Khaldiya and Al-Yarmouk in May at a profit of $300,000 in May
Iran, Syria to establish joint free zone, joint bank
Qasemi, who headed a high-ranking delegation to Syria, met with senior officials from Syria.The decisions for the establishment of the mentioned entities were made during a three-day visit of the Iranian minister to Syria
Iranian Transport and Urban Development Minister Rostam Qasemi announced a joint committee is set to be formed between Iran and Syria
S&P affirms Kuwait credit rating at A+ with negative outlook
"The government has almost exhausted the General Reserve Fund's liquidity", said the rating agency.It argued that despite higher oil prices and production levels, Kuwait's central government deficits are set to average 12 percent of GDP
It, however, noted that it could revise the outlook to stable if the government successfully addresses Kuwait's existing fiscal funding constraints
