Business & Money | Saturday 13 July, 2024 1:47 pm

PIF raises stake in Newcastle United to 85%

The Public Investment Fund (PIF) increased its stake in Newcastle United Football Club to 85%, as the sovereign fund and RB Sports &Media will together acquire PCP Capital Partners' shareholding in the club. In a statement, the English football club said RB Sports & Media will own the...

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Business & Money | Saturday 13 July, 2024 1:38 pm

WebEngage emerges as category leader in FMCD CDP-powered customer retention solutions in the Middle East

As the fast-moving consumer durables (FMCD) sector in the Middle East & Africa experiences rapid growth, WebEngage, a global provider of Big Data-powered & AI-driven customer engagement and retention solutions, has emerged as an unrivalled category leader. Brands in the region have...

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Business & Money | Friday 12 July, 2024 12:50 pm

GAC says 2 contractors to pay SAR 63.8M in settlement on collusion

The General Authority for Competition (GAC) reached a settlement agreement with Mohammad Ibrahim Al-Hussein General Contracting Establishment and Abdulaziz Al-Hassan Al-Muqbil Trading Establishment for a total of SAR 63.83 million.  According to two statements released by GAC on X, the...

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Business & Money | Friday 12 July, 2024 12:48 pm

MAWANI says container handling reaches 595,000 TEUs in June

Saudi ports reported a 15.51% drop in cargo throughput tonnage to 594,970 tons in June, compared to 704,200 tons in the same period a year ago.   In a statement, the Saudi Ports Authority (MAWANI) said that outbound containers rose 7.78% to 228,030 in June, from 211,570 in the...

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Business & Money | Friday 12 July, 2024 12:47 am

Department of Community Development in Abu Dhabi to host Social Care Forum in partnership with Deloitte Middle East

The Department of Community Development - Abu Dhabi is organising the inaugural edition of the Social Care Forum, from October 2-3, in partnership with Deloitte Middle East . It is being held under the slogan ‘To Enhance Innovation and Cooperation in the Field of Social Care’ and aims to...

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Business & Money | Friday 12 July, 2024 12:01 am

One Za’abeel achieves 2 Awards of Excellence from prestigious CTBUH Awards 2024, paving path to continued global recognition

One Za’abeel, the iconic landmark developed by ICD (Investment Corporation of Dubai), proudly celebrates two Awards Of Excellence presented by the Council on Tall Buildings and Urban Habitat (CTBUH). The development received recognition in 2 categories, ranking it favourably against hundreds of...

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Business & Money | Thursday 11 July, 2024 2:17 pm

Saudi Re Completes the Sale of Its Stake in Probitas for £123 Million

 Massive Media: Saudi Reinsurance Company "Saudi Re" has completed all procedures for the sale of its entire 49.9% stake in Probitas Holdings (Bermuda) to Aviva Insurance Limited for £123 million.  On this occasion, Ahmad Al-Jabr, Acting CEO of "Saudi Re" stated: "This transaction...

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Business & Money | Thursday 11 July, 2024 9:02 am

Developers locked in battle to win over investors as Dubai property demand soars

With demand for both off-plan and ready properties in Dubai at an all-time high, developers are locked in an intense battle to win over real estate investors. Firas Al Msaddi, CEO of fäm Properties, says more options for buyers in a maturing market means that developers are battling on...

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Business & Money | Thursday 11 July, 2024 9:00 am

Knight Frank: Riyadh retail stock to rise by 28% to 4.6 million square metres by 2026

Average rental rates across Riyadh’s retail market have increased marginally by 3% to SAR 2,725 psm for both regional and super regional malls in the last 12 months, while occupancy rates across the retail market increased by 5 percentage points to 90%, according to global property consultancy...

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Business & Money | Thursday 11 July, 2024 8:43 am

RAKEZ inks strategic partnership with All India Association of Industries to enhance mutual trade and investment opportunities

Ras Al Khaimah Economic Zone (RAKEZ) signed a Memorandum of Understanding (MoU) with The All India Association of Industries (AIAI), to open up new avenues for mutual trade and investment, strengthening economic ties between the UAE and India. The MoU was signed by AIAI President Dr. Vijay...

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