Business & Money | Thursday 23 November, 2023 12:04 pm

Investment Corporation of Dubai announces record Revenues, Net Profit, Assets and Equity.

ICD announced today its consolidated financial results for the six-month period ended 30 June 2023 having generated record Revenues of AED 145.1 Billion and a record Net Profit of AED 28.3 Billion.Revenues reached a record AED 145.1 Billion, up 20 per cent with an increase of AED 24.0 Billion...

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Business & Money | Thursday 23 November, 2023 11:20 am

KASCO Group Connects Global Footprint With Avaya Technology

KASCO Group, a leading conglomerate that specializes in oil and gas trading, shipping and marine services, has used Avaya technology to create a connected environment that enables real-time communications between its global fleet of 16 vessels and its new headquarters in Dubai.   The ...

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Business & Money | Thursday 23 November, 2023 9:03 am

SRC completes SAR 3.5B sukuk issuance

Saudi Real Estate Refinance Co. (SRC), a wholly owned subsidiary of the Public Investment Fund (PIF), successfully completed a SAR 3.5 billion worth of sukuk issuance as part of its government-guaranteed its riyal-denominated sukuk program.   The offering forms the last two tranches...

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Business & Money | Thursday 23 November, 2023 8:57 am

Tadawul diversifies investment opportunities by rolling out single stock options

The Saudi Exchange (Tadawul) is gearing up for the rollout of its newest exchange-traded derivatives product — the single stock options (SSOs), which will be introduced to the Saudi capital market through the core assets of four listed companies in the first phase, starting Nov. 27, with an eye...

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Business & Money | Thursday 23 November, 2023 8:55 am

CMA seeks public input on regulating secondary offerings

The Capital Market Authority (CMA) invited public feedback on the draft regulatory framework to regulate secondary offerings for a period of 30 days ending on Dec. 21, 2023. The draft aims to regulate secondary offerings, which provide a new channel for offerings in the capital market by...

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Business & Money | Thursday 23 November, 2023 8:43 am

FIA TO STEER CHANGE AT COP28 WITH SMART DRIVING CHALLENGE

The Fédération Internationale de l’Automobile (FIA) is giving drivers around the world the chance to make their mark on COP28 through the Drive Change Today – FIA Smart Driving Challenge, developed in partnership with AI data analytics company Greater Than. From 22 November to 12...

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Business & Money | Wednesday 22 November, 2023 3:22 pm

EIF seeks public opinion on Investment Fund Law

The Events Investment Fund (EIF) is seeking public consultation on the proposed Investment Fund Law for events related to culture, entertainment, sports and tourism sectors through the Istitlaa platform until Dec. 20. The draft law aims to align...

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Business & Money | Wednesday 22 November, 2023 3:20 pm

UAE’s Comprehensive Economic Partnership Agreements to double non-oil foreign trade to AED4 trillion by 2031

The Ministry of Economy (MoE), in partnership with the Abu Dhabi Chamber of Commerce and Industry (ADCCI) and the Abu Dhabi Department of Economic Development (ADDED), has hosted a workshop to increase the Abu Dhabi business community’s awareness about importance of the Comprehensive...

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Business & Money | Wednesday 22 November, 2023 3:11 pm

Raha closes round of pre-Series A funding at USD 7 million, led by Soor Capital and eWTP Arabia Capital

Raha, Kuwait’s fast-growing logistics tech company, recently announced the successful completion of its pre-Series A funding round. Led by Soor Capital and PIF-backed Private Equity Fund, eWTP Arabia Capital, this latest investment brings up the total raised by the ambitious tech start-up to USD...

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Business & Money | Wednesday 22 November, 2023 3:09 pm

DAMAC Celebrates Successful Participation at WETEX 2023

The Water, Energy, Technology, and Environment Exhibition (WETEX) and Dubai Solar Show (DSS) wrapped up a successful 25th edition at Dubai World Trade Centre. Local and international specialists in energy, water, sustainability, green technologies, renewable and clean energy, green buildings,...

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