Foreign investments boost Saudi financial market
Saudi Arabia's financial market is on an upward trajectory, fueled by substantial foreign investments and strategic economic diversification under Vision...
Business
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...
Business
Business
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
Economy
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
Business
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.
Business
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
Business
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
Business
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.
Geostrategy
Bahrain and Egypt share solid relations: Fawzia bint Abdulla Zainal
Bahrain and Egypt share solid long-standing brotherly relations, and there is steady progress in it due to their deep partnership...
- The two sides discussed ways to enhance parliamentary relations between the two countries, in addition to the mechanisms to develop joint action.
- They also exchanged points of view on regional and global issues of mutual interest affirming the importance of cooperation between the two.
Business
Saudi firm BinDawood eyes expansion by way of acquisition
Future Tech Retail, a firm owned by Saudi retailer BinDawood Holding, will acquire a sixty-two percent stake in International Applications...
- Future Tech Retail, which is fully owned by BinDawood Holding, signed the deal with Amwaj Real Estate Co. and First Commercial Application Co
- The potential acquisition comes in a bid to strengthen BinDawood’s position in the e-commerce sector and enhance its omnichannel presence
Business
2021 edition of World’s Coolest Winter raises UAE hotel revenues by 50 percent
UAE government's World's Coolest Winter campaign, which was launched in December 2021, has raised revenues of hotel establishments to AED1.5...
- The campaign promoted tourism, natural sites and entertaining destinations and experiences across the seven emirates of the UAE.
- The campaign also raised the number of domestic tourists from 950,000 to 1.3 million, an increase of 36 percent over the first edition of the campaign.
Business
Al-Dawaa of Saudi Arabia to launch IPO at $17.3 per share
Al-Dawaa, a pharmaceutical retail firm in Saudi Arabia, has set the price range for its initial public offering at SR65...
- The company earlier announced it was offering 25.5 million shares in an IPO, or 30 percent of its capital of SR850 million through a sale by existing shareholders
- Institutional subscription has also started on Sunday, where they are initially allocated 100 percent of the offering
Foreign investments boost Saudi financial market
Saudi Arabia's financial market is on an upward trajectory, fueled by substantial foreign investments and strategic economic diversification under Vision...
Business
Company News
UAE crypto registration cost highest in GCC
Infographics
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Vodafone, Microsoft ink pact
Business
Maersk introduces world’s first bio-methanol container ship
Copenhagen, Denmark - Danish shipping giant Maersk on Thursday launched the world's first container ship running on bio-methanol, a key step...
Business
RSG gets Mostadam Diamond Certification
The accolade recognizes RSG's commitment to sustainability.
Business
Leaders of China’s National People’s Congress, UAE’s FNC hold talks
BEIJING, CHINA – Chairman of China’s National People's Congress (NPC) Standing Committee Zhao Leji held talks in Beijing with the...
Geostrategy
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Business
UAE’s internet quality world’s best, but e-security concerns remain
The UAE's achievement in internet quality marks a significant improvement from its previous third-place ranking in this category. However, in...
- The DQL Index assesses the digital quality of life in 121 nations, covering 92 percent of the global population, across five key pillars and 14 indicators.
- The UAE's impressive internet quality score is attributed to its fixed internet speed, which averages 229 Mbps, ranking second globally just behind Singapore.
Geostrategy
Diverse business models needed for trade with China, say Union of Arab Chambers
BEIRUT, LEBANON – The secretary general of the Union of Arab Chambers has called for diversified business models to facilitate...
- The secretary general of the Union of Arab Chambers said there was a rise in the variety of goods traded between China and the Arab world in recent years.
- Arab nations and China cannot simply rely on the traditional pattern of cooperation that emphasizes on imports and exports of products.
Business
Russian Post working on opening company in UAE, says CEO
Vladivostok, Russia -- Russian Post is working on opening a company in the UAE, CEO Mikhail Volkov told TASS in...
- In 2018, the Russian Post opened its first overseas branch in Berlin. In 2019, it completed registration of its subsidiary RP Logistics (Shenzhen) Co. Ltd. in China.
- The Russian Post is endeavoring not to interrupt the exchange in postal items and just six countries ended postal communications with Russia to date, TASS reported.