13 Jumada I 1446 - 14 November 2024
    
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Eye of Riyadh

UAE demonstrates its leadership in spearheading climate action: Al Dahak
Business & Money | Thursday 14 November, 2024 10:07 am
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...
Sharjah hosts UAE-Thailand Business Forum to enhance investment prospects, establish new strategic partnerships
Business & Money | Thursday 14 November, 2024 10:03 am
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, ...
ADNOC L&S Q3 net profit up 18% YoY to AED643 million
Business & Money | Thursday 14 November, 2024 10:00 am
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 ...
Pipetec Solutions Manufacturing to set up AED100m plant in KEZAD
Business & Money | Thursday 14 November, 2024 9:58 am
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...
Red Sea subsidiary renews SAR 238M credit facility with Riyad Bank
Business & Money | Thursday 14 November, 2024 9:53 am
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...
Sumou signs deal to develop SEDCO Capital Sumou Al Ramal Project in Riyadh
Business & Money | Thursday 14 November, 2024 9:45 am
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...
Retal, Albilad Capital sign MoU to launch SAR 2B real estate fund
Business & Money | Thursday 14 November, 2024 9:39 am
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...
Medallion Associates Unveils Institutional Investors Office to Attract Fresh Global Capital to Dubai Real Estate
Business & Money | Thursday 14 November, 2024 9:37 am
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 ...
Xpro Dielectric Films begins construction of its 1st global manufacturing unit in Ras Al Khaimah
Business & Money | Thursday 14 November, 2024 9:34 am
Xpro Dielectric Films, a subsidiary of Xpro India Limited and part of the prestigious Birla conglomerate, recently held the groundbreaking of its state-of-the-art dielectric films manufacturing facility, marking the start of construction at Al Ghail Free Zone, located within the Ras Al Khaimah...
Thakher Development and Mulkia Investment Establish a Real Estate Fund Worth Nearly One Billion SAR in Mecca
Business & Money | Thursday 14 November, 2024 9:30 am
Thakher Development, the principal developer responsible for the master plan and infrastructure of the Thakher Mecca project, in collaboration with Mulkia Investment and under the auspices of the Ministry of Municipal and Rural Affairs and Housing, announced the establishment of a real estate fund...
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