Technology & IT | Thursday 14 November, 2024 10:31 am

HONOR Magic V3 Ranked Among TIME's "Best Inventions of 2024"

TIME magazine has named the HONOR Magic V3 as one of the Best Inventions of 2024, in a list that features 200 groundbreaking innovations redefining daily life across a variety of fields, from healthcare and artificial intelligence to clean energy. This recognition reflects HONOR’s achievement in...

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Business & Money | Thursday 14 November, 2024 10:09 am

PIF sells 2% stake in stc for SAR 38.6/share

The Public Investment Fund (PIF) announced the completion of an accelerated bookbuild offering to sell the fund’s stake of 2% in stc, according to a statement by Goldman Sachs Saudi Arabia and SNB Capital, joint global coordinators and joint bookrunners. The final selling price was set at...

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Business & Money | Thursday 14 November, 2024 10:07 am

UAE demonstrates its leadership in spearheading climate action: Al Dahak

Dr. Amna bint Abdullah Al Dahak, Minister of Climate Change and the Environment, affirmed that the UAE, under the guidance of its wise leadership, has demonstrated its leadership in driving climate action. This was particularly evident when the UAE hosted the COP28 last year and produced the...

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Business & Money | Thursday 14 November, 2024 10:03 am

Sharjah hosts UAE-Thailand Business Forum to enhance investment prospects, establish new strategic partnerships

The Sharjah Chamber of Commerce and Industry (SCCI) hosted the UAE-Thailand Business Forum to mark a high-level delegation visit from the Thai Chamber of Commerce and Industry.The Thai delegation featured prominent economic figures from major companies specialising in food manufacturing, logistics, ...

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Business & Money | Thursday 14 November, 2024 10:00 am

ADNOC L&S Q3 net profit up 18% YoY to AED643 million

ADNOC Logistics and Services plc (ADNOC L&S) today announced its third quarter and first nine months (9M) 2024 financial results. The revenue for the nine months 2024 was $2,668 million (AED9,798 million), up 38% compared to 9M 2023. EBITDA rose by 37% to $867 million (AED3,184 million) in ...

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Business & Money | Thursday 14 November, 2024 9:58 am

Pipetec Solutions Manufacturing to set up AED100m plant in KEZAD

Khalifa Economic Zones Abu Dhabi – KEZAD Group and UAE-based Pipetec Solutions Manufacturing have signed a 50-year land lease agreement for the establishment of their state-of-the-art steel pipe bending plant in KEZAD A (KEZAD Al Ma’mourah) to serve clients across a number of...

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Business & Money | Thursday 14 November, 2024 9:53 am

Red Sea subsidiary renews SAR 238M credit facility with Riyad Bank

Red Sea International Co.’s subsidiary, Fundamental Installation for Electric Work Co. (First Fix), renewed a three-year Shariah-compliant credit facility with Riyad Bank for SAR 237.88 million, effective Aug. 6, 2024, according to a Tadawul statement. This renewal follows the previous...

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Business & Money | Thursday 14 November, 2024 9:45 am

Sumou signs deal to develop SEDCO Capital Sumou Al Ramal Project in Riyadh

Sumou Real Estate Co. signed an agreement with SEDCO Capital for infrastructure development and execution of SEDCO Capital Sumou Al Ramal project in Riyadh with an area of 240,000 square meters. In a statement to Tadawul, the company said that the contract’s value is SAR 26.4 million and...

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Business & Money | Thursday 14 November, 2024 9:39 am

Retal, Albilad Capital sign MoU to launch SAR 2B real estate fund

Retal Urban Development Co. signed a memorandum of understanding (MoU) with Albilad Capital to launch a closed-end real estate investment fund, with an estimated value of SAR 2 billion. The fund will be geared towards developing and managing a multi-use project, according to statement to...

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Business & Money | Thursday 14 November, 2024 9:37 am

Medallion Associates Unveils Institutional Investors Office to Attract Fresh Global Capital to Dubai Real Estate

With the GCC increasingly recognized as a premier investment destination, Dubai is leading the charge to attract international capital. Responding to the demand for strategic investment opportunities in the region, Medallion Associates has launched an Institutional Investors Office aimed at drawing ...

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