Business & Money | Friday 28 March, 2025 7:04 am

UQDC partially repays credit facilities with Alinma Bank from IPO proceeds

Umm Al Qura for Development and Construction Co. (UQDC) used as much as SAR 1.5 billion from its recent initial public offering’s (IPO) net proceeds for the partial settlement of its existing credit facilities with Alinma Bank.   Accordingly, the repaid credit limits are to be...

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Business & Money | Friday 28 March, 2025 7:00 am

Modon and Elsewedy Industrial Development collaborate to launch industrial zone for Ras El Hekma, Egypt

Modon Holding P.S.C (“Modon”), an Abu Dhabi-based holding company, and Egypt’s Elsewedy Industrial Development have signed a letter of intent (LOI) to build and operate a new industrial zone servicing the Ras El Hekma city megaproject in Egypt. The 10 million sqm new industrial zone,...

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Business & Money | Friday 28 March, 2025 6:54 am

Over 50 speakers confirmed for Automechanika Riyadh Academy

Automechanika Riyadh, Saudi Arabia’s leading regional trade show for the automotive aftermarket industry, has confirmed over 50 high-profile expert speakers will take to the Automechanika Academy stage, highlighting the event’s role in shaping the future of Saudi Arabia’s automotive...

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Business & Money | Friday 28 March, 2025 6:53 am

The Department of Community Development in Abu Dhabi Launches the "Volunteer in 60 Seconds" Initiative in Collaboration with Volunteers.ae

The Department of Community Development (DCD) in Abu Dhabi, the regulatory authority of the social sector in the emirate, has launched the "Volunteer in 60 Seconds" initiative in collaboration with the Volunteers.ae platform. This initiative is designed to enhance the efficiency of the volunteer...

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Business & Money | Friday 28 March, 2025 6:52 am

Aqualia Transforms House Connection Management in Saudi Arabia, Achieving 89% Customer Satisfaction

Aqualia, a leading global water management company, has revolutionized house connection services in Saudi Arabia’s Northern Cluster through its collaboration with the National Water Company (NWC). By adopting an innovative strategy focused on efficiency, data-driven decision-making, and enhanced...

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Business & Money | Friday 28 March, 2025 12:12 am

BHM Capital Achieves Outstanding Financial Performance in 2024 Driven by Strong Revenue and Net Profit Growth

BHM Capital, the leading financial institution in the capital markets of the United Arabic Emirates, has announced remarkable financial performance for the year 2024, further solidifying its position as a key player in the industry. The company demonstrated significant growth across various...

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Business & Money | Thursday 27 March, 2025 1:13 pm

SHL renews SAR 200M credit facilities with Bank AlJazira

SHL Finance Co. renewed on March 26 a Shariah-compliant credit facility agreement worth SAR 200 million with Bank AlJazira.   SHL will use the five-year financing to expand and boost sales volumes, in line with its plans and future strategy, according to a statement to...

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Business & Money | Thursday 27 March, 2025 1:08 pm

MEPCO to acquire Al-Medan Project in SAR 91M deal, issue new shares

Middle East Paper Manufacturing and Production Co. (MEPCO) signed today, March 27, a share purchase agreement to acquire full ownership of Al-Medan Project Company for Corrugated Carton (MPCCC). The deal includes purchasing 1,000 ordinary shares, representing the entire capital of the MPCCC,...

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Business & Money | Thursday 27 March, 2025 11:59 am

The Nautical Institute to hold AGM & conference during Seatrade Maritime Logistics ME

Leading maritime authority, The Nautical Institute, today announced that its Annual General Meeting (AGM) and Technical Conference will both take place during UAE Maritime Week for the first time.  Planned to take place at the flagship event, Seatrade Maritime Logistics Middle East 2025...

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Business & Money | Thursday 27 March, 2025 11:48 am

"Drake and Scull" Achieves Major Turnaround: AED 3.76 billion Profit

Drake and Scull International PJSC (DSI), specializing in contracting services for mechanical, electrical, and plumbing (MEP), as well as oil and gas, water and wastewater treatment projects, announced its financial results for the year ended December 31, 2024, reflecting a significant turnaround...

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