Business & Money | Wednesday 10 January, 2024 10:39 am

World Bank raises Saudi economic growth forecasts to 4.1% in 2024

The World Bank upgraded its expectations for Saudi Arabia’s economic growth to 4.1% this year, from previous forecasts of 2.3% in June 2023.The Kingdom's economy is set to expand, despite extending the voluntary cuts in crude output earlier in 2023, said the World Bank. It added that investment...

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Business & Money | Wednesday 10 January, 2024 10:33 am

Saudi Arabia raises mineral wealth estimates to SAR 9.4T: Alkhorayef

Saudi Arabia revised upward estimates for its mineral resources from $1.3 trillion (SAR 4.9 trillion) in 2016 to $2.5 trillion (SAR 9.4 trillion), Reuters reported, citing Bandar Alkhorayef Minister of Industry and Mineral Resources.   The estimates were revised for phosphate, gold...

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Business & Money | Wednesday 10 January, 2024 10:15 am

Saudi is leveraging cutting-edge technologies to revolutionize healthcare: Philips Future Health Index 2023 Saudi Arabia report

As part of Vision 2030, Saudi launched the Health Sector Transformation Program in 2021, focusing on improving access to affordable healthcare, modernizing facilities, and increasing private-sector investment. Fast forward to today, and the initiative has borne fruit, as evidenced by the takeaways...

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Business & Money | Tuesday 9 January, 2024 1:58 pm

The Rise of Saudi Arabia as an Investment Destination

Saudi Arabia is now a promising destination for global investment due to its transformation under Vision 2030.  The ambitious plan seeks to reduce the country's dependence on oil, promote socio-economic development, and diversify the economy. There are numerous untapped opportunities for...

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Business & Money | Tuesday 9 January, 2024 1:38 pm

Construction Giant ALEC Achieves 150% YoY Saudi Growth; Plans Further Investment and Expansion in 2024

Following the establishment of its Saudi headquarters in Riyadh last year, ALEC Engineering and Contracting LLC (ALEC) today announced it has achieved 150% year-on-year growth in the Kingdom through 2023, highlighted by its successes in winning bids for four projects, and investing to significantly ...

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Business & Money | Tuesday 9 January, 2024 12:09 pm

Azizi Developments, Toshiba extend partnership across four major projects

Azizi Developments, a leading private developer in the UAE, has extended its partnership with Toshiba Elevator Middle East LLC, the Japanese manufacturer of the world’s fastest elevator, to supply, design and install passenger and service elevators for the Azizi Central, Azizi Grand, Azizi Vista, ...

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Business & Money | Tuesday 9 January, 2024 9:24 am

REGA: project off-plan sale, rent project law comes into force April 4

The Real Estate General Authority (REGA) stated that the new law for selling and renting off-plan real estate projects will be effective starting April 4, and its executive regulations will be published during the coming period. REGA explained in a statement that the new...

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Business & Money | Monday 8 January, 2024 10:56 am

No UAE national airlines operating Boeing 737 Max 9: General Civil Aviation Authority

The General Civil Aviation Authority (GCAA) today confirmed that none of the national airlines in the United Arab Emirates is operating any of the Boeing 737- MAX 9 aircraft, affected by the technical malfunction that occurred on a Boeing 737- MAX 9 plane operated by an American company on January...

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Business & Money | Monday 8 January, 2024 10:44 am

Federation of UAE Chambers and JETRO Japan discuss joint business council plans

Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry, has discussed the membership structure and requirements for joining the UAE-Japan Business Council which was established in July 2023. The discussion took place during his meeting in Dubai...

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Business & Money | Monday 8 January, 2024 10:38 am

HFZA to showcase investment advantages in steel, iron industries in SteelFab 2024

The Hamriyah Free Zone Authority (HFZA) in Sharjah has announced it is taking part in the 19th edition of the SteelFab 2024 exhibition, organised by Expo Centre Sharjah from 8th to 11th January 2024. During the event, HFZA will showcase the various opportunities and advantages of investing in...

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