Business & Money | Monday 10 June, 2024 8:53 am

ADNOC fully redeems Exchangeable Bonds in ‘ADNOC Distribution’

Abu Dhabi National Oil Company (ADNOC) PJSC (ADNOC) confirmed that it has redeemed in full its US Dollar-denominated senior unsecured bonds (Exchangeable Bonds) in Abu Dhabi National Oil Company for Distribution PJSC (ADNOC Distribution). ADNOC paid Bondholders a total amount of $1.199 billion ...

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Business & Money | Monday 10 June, 2024 8:47 am

National Building inks SAR 300M contract with Al-Fayzia Real Estate

National Building and Marketing Co. signed today, June 9, a SAR 300 million contract with Al-Fayzia Real Estate Development Co. to build office and residential towers (Al Raed Project), according to a statement to Tadawul. The three-year contract includes carrying out the infrastructure and...

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Business & Money | Monday 10 June, 2024 8:41 am

Al Rajhi Capital to conduct market-making activities on Banan

The Saudi Exchange Co. (Tadawul) approved Al Rajhi Capital’s application for conducting market-making activities on Nomu-listed Banan Real Estate Co. as of June 11.  According to a Tadawul filing today, June 9, the market maker obligations on Banan are as follows: -...

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Business & Money | Monday 10 June, 2024 8:34 am

MSA Novo, King Abdullah University of Science and Technology (KAUST) Sign MoU to Drive Innovation and Growth in Saudi Arabia

In a significant move to bolster the Saudi start-up ecosystem, MSA Novo has signed a memorandum of understanding (MoU) with King Abdullah University of Science and Technology (KAUST). This partnership underscores MSA Novo’s commitment to fostering innovation and entrepreneurship in Saudi...

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Business & Money | Monday 10 June, 2024 6:15 am

Maktoum bin Mohammed meets with Co-Founder, Co-Chairman of Carlyle Group

H.H. Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and President of the Dubai International Financial Centre (DIFC), today held a meeting with David M. Rubenstein, Co-Founder and Co-Chairman of The Carlyle Group, one of the...

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Business & Money | Sunday 9 June, 2024 11:01 am

Bupa Arabia plans 860,000 share buyback for employees’ incentive program

Bupa Arabia for Cooperative Insurance Co. board of directors recommended, on June 9, the repurchase of up to 860,000 of its shares to allocate to the employees’ stock long-term incentive program. The company said in a statement on Tadawul that the shares to be purchased are ordinary shares...

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Business & Money | Sunday 9 June, 2024 9:58 am

Saudi Aramco details shareholding post-allocation

Saudi Arabian Oil Co. (Saudi Aramco) announced shareholding details pursuant to the final allocation of the fully marketed offering of 1.545 billion shares, in which the majority of the shares constituting the institutional tranche of the offering was allocated to investors located outside of the...

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Business & Money | Sunday 9 June, 2024 9:54 am

MIS signs contract to lease data center; value exceeds 50% of revenues in 2023

Al Moammar Information Systems Company - MIS signed a joint contract with Microsoft Arabia Limited and the Saudi Data Center Fund 1, for the purpose of leasing and providing data center services.MIS signs contract to lease data center; value exceeds 50% of revenues in 2023. The...

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Business & Money | Sunday 9 June, 2024 9:26 am

Abu Dhabi launches the unified economic licence to enhance ease of doing business

The Abu Dhabi Department of Economic Development (ADDED) in collaboration with the           Abu Dhabi Free Zones Council launched the Unified Economic License in Abu Dhabi, spearheaded by Khalifa Economic Zones Abu Dhabi (KEZAD Group), Abu Dhabi Airports Free Zone (ADAFZ), ...

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Business & Money | Sunday 9 June, 2024 9:24 am

Deloitte admits 32 new partners for the Middle East region

Deloitte, the largest professional services network in the world, has further grown its leadership team in the Middle East with the admission of 32 new partners on June 1, 2024 in addition to 23 lateral hire partners in the last 11 months.  Mutasem Dajani, CEO, Deloitte Middle East, said: ...

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