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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Business & Money | Thursday 14 November, 2024 9:34 am

Xpro Dielectric Films begins construction of its 1st global manufacturing unit in Ras Al Khaimah

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...

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Business & Money | Thursday 14 November, 2024 9:30 am

Thakher Development and Mulkia Investment Establish a Real Estate Fund Worth Nearly One Billion SAR in Mecca

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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Business & Money | Wednesday 13 November, 2024 4:36 pm

Retail Congress MENA 2024 Ignites a New Era in Riyadh, Celebrating Excellence and Vision Across the Retail Landscape

The Middle East Council of Shopping Centres & Retailers (MECS+R) proudly hosted its first-ever Retail Congress MENA in Riyadh, Saudi Arabia, on November 4-5, making a resounding impact on the MENA retail landscape. Bringing together industry giants, thought leaders, and key stakeholders, the...

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Technology & IT | Wednesday 13 November, 2024 3:29 pm

Explore the Next Era of DevOps at Exito's DevOps Summit in Dubai Physical conference on December 5th in Shangri-La Dubai

As Dubai emerges as a leader in AI worldwide, one leading AI development company utilizes AI and ML to develop more customer-friendly support systems. Through NLP (Natural Language Processing is a subfield of artificial intelligence that deals with interaction between computers and human language....

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