Business & Money | Saturday 11 November, 2023 4:29 am

EDGE acquires 50% stake in Flaris, marking strategic expansion into aviation technology

The UAE’s EDGE Group, one of the world’s leading advanced technology and defence groups, has announced the acquisition of a 50 percent stake in Flaris, a pioneering Polish aviation company specialising in the development of state-of-the-art personal jets.The two companies will also establish a...

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Business & Money | Saturday 11 November, 2023 3:58 am

Insurance benefit expenses reach SAR 10.7 billion in October: GOSI

Saudi Arabia's General Organization for Social Insurance (GOSI) said that total expenses of insurance benefits surpassed SAR 10.7 billion in October.   The compensation of the unemployment insurance scheme (SANED) exceeded SAR 87.2 million in the same month, while the total pensions...

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Business & Money | Saturday 11 November, 2023 1:10 am

Saudi Arabia has ample opportunities with African states: Minister

Saudi Arabia has ample opportunities for cooperation with Arab and African states, especially in the field of mining which is a vital sector for both sides, Bandar Alkhorayef, Minister of Industry and Mineral Resources, said on the sidelines of the Saudi-Arab-African Economic...

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Business & Money | Saturday 11 November, 2023 1:02 am

Successful Conclusion of the Saudi-Arab-African Economic Conference: Strengthening Bonds for a Shared Future

The Saudi-Arab-African Economic Conference reached new heights of collaboration and partnership as it concluded its proceedings with promising ventures and shared commitments. The conference, held on the sidelines of the Saudi African Summit, brought together leaders, decision makers, and officials ...

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Business & Money | Friday 10 November, 2023 6:27 am

Dur Hospitality issues board circular for Taiba acquisition

Dur Hospitality Co. announced issuing the board circular relating to the transaction which has been prepared in accordance with the requirements of Article (39) of the merger and acquisition regulations issued by the board of Capital Market Authority, which includes the opinion of Dur’s board of...

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Business & Money | Friday 10 November, 2023 6:23 am

Taiba issues shareholders' circular, offer documents, timetable for Dur acquisition deal

Taiba Investment Co. announced issuing the shareholders' circular, offer document and timetable to shareholders of Dur Hospitality for the planned acquisition deal, according to a statement to Tadawul.   The Capital Market Authority (CMA) approved, on Nov. 6, Taiba Investments'...

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Business & Money | Friday 10 November, 2023 1:48 am

EIH Ethmar International Holding posts robust Q3 performance with a net profit of AED589 million

EIH Ethmar International Holding PJSC, a leading conglomerate operating across nine diverse industry sectors, has today announced its financial results for the third quarter of the 2023 fiscal year, achieving a net profit of AED589 million, an income of AED730.1 million, and a total asset value of...

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Business & Money | Friday 10 November, 2023 1:41 am

Asteco Q3 2023 Real Estate Report Highlights Ongoing Momentum in the UAE Market with Launch of New Projects

The Q3 2023 real estate report by Asteco, the UAE’s leading full service Real Estate company, highlights that Abu Dhabi's residential sales market is poised for an anticipated growth in the coming months, while Dubai’s real estate landscape remains marked by an ongoing momentum,...

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Business & Money | Friday 10 November, 2023 1:09 am

Abu Dhabi International Boat Show 2023 Takes to the Water

East Pipes Integrated Company for Industry signed today, Nov. 9, a supply contract worth more than SAR 440 million (VAT inclusive) with Saudi Arabian Oil Co. (Saudi Aramco), according to a statement to Tadawul.   Under the contract, the company will manufacture and supply steel pipes ...

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Business & Money | Friday 10 November, 2023 1:08 am

RAKEZ recognises channel partners for exceptional achievements

Ras Al Khaimah Economic Zone (RAKEZ) celebrated the remarkable accomplishments of its valued channel partners at the ‘RAKEZ Hall of Fame Awards’ ceremony. This gala event marked a night of recognition and appreciation for the vital role played by the partners in RAKEZ's ongoing...

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