Business & Money | Tuesday 26 December, 2023 10:54 am

Dubai Insurance Company assigned “A” Rating for Insurance Financial Strength with Stable Outlook by Fitch Ratings, London

For the first time in over five decades of operations, Dubai Insurance Company P.S.C. (DIN) has received an IFS “A” Rating with a Stable Outlook from London’s globally-renowned ratings agency Fitch Ratings (Fitch), a leader in financial information services and award-winning provider of...

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Business & Money | Tuesday 26 December, 2023 10:50 am

Saudi Real Estate Market sees 136,000 transactions since launch

Saudi Real Estate Market (SREM) has registered more than 136,000 transactions since its launch in September, state-owned Saudi News Agency reported, citing data compiled by the Ministry of Justice showed.   Riyadh dominated the lion’s share of transactions, while the five largest...

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Business & Money | Tuesday 26 December, 2023 9:27 am

Anwar Gargash Diplomatic Academy confirmed as UAE’s Education Partner in hosting MC13 in Abu Dhabi

The Ministry of Economy and the Abu Dhabi Department of Economic Development (ADDED), have announced Anwar Gargash Diplomatic Academy (AGDA) as their official Education partner in hosting the World Trade Organisation’s 13th Ministerial Conference (MC13), the principle decision-making body...

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Business & Money | Tuesday 26 December, 2023 9:02 am

TDRA signs MoU with PCFC's Dubai Maritime Authority

The Telecommunications and Digital Government Regulatory Authority (TDRA) has signed a Memorandum of Understanding (MoU) with the Dubai Maritime Authority of Dubai Ports, Customs and Free Zone Corporation (PCFC). This partnership marks a significant stride in improving the regulatory framework ...

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Business & Money | Tuesday 26 December, 2023 9:01 am

Ministry of Industry to launch 35 renewable energy projects in 2024: Minister

Saudi Ministry of Industry and Mineral Resources is set to launch nearly 35 renewable energy projects in 2024, Asharq News reported, citing Minister Bandar AlKhorayef. The coming year will witness the execution of a big number of projects as well as investments, AlKhorayef added on the...

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Business & Money | Tuesday 26 December, 2023 8:44 am

GIB launches inaugural SAR 1.5B Tier 2 sukuk issuance

Gulf International Bank (GIB) - Saudi Arabia successfully issued its first Tier 2 sukuk, raising SAR 1.5 billion. This is part of a SAR 3 billion issuance program with a 10-year maturity and a five-year redemption period.   The bank's sukuk program supports its...

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Business & Money | Tuesday 26 December, 2023 8:42 am

Alkhorayef Water secures SAR 450M credit facilities from Riyad Bank

Alkhorayef Water and Power Technologies Co. (AWPT) signed a Shariah-compliant credit facility agreement worth SAR 450 million with Riyad Bank.   The loan was secured today, Dec. 25, the company said in a Tadawul statement, adding that the agreement is valid until Dec....

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Business & Money | Tuesday 26 December, 2023 8:39 am

Al-Falih expects investments of up to $600B in petchem sector by 2030

Saudi Arabia's Minister of Investment, Khalid Al-Falih, expected that investments in the petrochemical sector would total $600 billion by 2030.   In his speech at the Saudi-Japan Investment Forum, Al-Falih stated that the strategic partnership between Saudi Arabia and...

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Business & Money | Tuesday 26 December, 2023 8:38 am

NIDLP accomplishes 120 initiatives 2 years ahead of schedule: CEO

More than 120 of the National Industrial Development and Logistics Program’s (NIDLP) initiatives were completed two years before the scheduled deadline, CEO Suliman Almazroua stated at the NIDLP’s annual ceremony.   He said that this progress confirms the maturity of the...

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Business & Money | Tuesday 26 December, 2023 8:18 am

HRSD Ministry launches insurance service for domestic workers

The Ministry of Human Resources and Social Development (HRSD) launched an insurance service on its Musaned platform for contracts of new domestic workers.    As of Feb. 1, 2024, the insurance service will cover the first two years of the contract, then it will be...

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