Business & Money | Saturday 23 September, 2023 1:44 am

Saudi Arabia has leading position in maritime transport: MAWANI

Saudi Arabia secured a leading position in the maritime transport industry regionally and globally through its geographical location that connects three continents, said Omar Hariri, President of the Saudi Ports Authority (MAWANI).   He told the Saudi Maritime Congress that this...

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Business & Money | Saturday 23 September, 2023 1:42 am

Fed seen to cut interest rates in 2024: BlackRock

The Federal Reserve is nearing the end of its current cycle of interest rate hikes aimed at tamping down inflation and may look to cut rates next year, Rick Rieder, BlackRock's Chief Investment Officer for Global Fixed Income, told Fox Business. "The thing that will be interesting next year is ...

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Business & Money | Saturday 23 September, 2023 1:40 am

Expanding female workforce participation could boost Saudi economy: S&P

The increasing participation of women in Saudi Arabia's workforce is expected to boost the country’s economic growth prospects, according to S&P Global Ratings.   Labor market reforms led female workforce participation for Saudi nationals to nearly double to almost 36% in 2022, ...

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Business & Money | Saturday 23 September, 2023 1:04 am

Bahri Closes Participation in Saudi Maritime Congress 2023 as a Founding Partner

Bahri, a global leader in logistics and transportation, has successfully concluded its participation at the 4th edition of the Saudi Maritime Congress as a founding partner. Held under the patronage of His Excellency Saleh bin Nasser Al-Jasser, Minister of Transport and Logistic Services...

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Business & Money | Saturday 23 September, 2023 12:14 am

UBF: Cybersecurity is key in strengthening customer confidence and developing UAE's banking and financial sector

UAE Banks Federation,  the sole representative and unified voice of UAE banks, reiterated its commitment to supporting efforts that enhance secure and smooth banking experience, in particular, initiatives related to cybersecurity that constitute an essential shield against cyber threats, in...

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Business & Money | Friday 22 September, 2023 5:48 pm

H.E. Abdulla bin Touq al Marri unveils key pillars for transforming UAE food and agriculture sector into global power

The UAE Minister of Economy, H.E. Abdulla bin Touq al Marri, affirmed the UAE’s commitment to transforming its food and agriculture sector to grow its contribution to GDP by $10 billion and creating 20,000 jobs in the next five years and unveiled the seven key pillars of the strategic direction...

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Business & Money | Friday 22 September, 2023 5:46 pm

ADIB redeems $750 million perpetual Sukuk issued in 2018

Abu Dhabi Islamic Bank (ADIB), a leading financial institution, announced that it has successfully completed the planned redemption of its USD 750 million additional tier-one (AT1) perpetual sukuk on the first call date, September 20, 2023. These sukuks were issued on 20th September 2018 at a...

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Business & Money | Friday 22 September, 2023 3:05 am

MODON says SAR 500 mln vaccine firm to be set up in Sadeer

The Saudi Authority for Industrial Cities and Technology Zones (MODON) agreed with Vaccine Industrial Co. (Vaccine) to set up a SAR 500 million factory in Sadeer City to strengthen the pharmaceutical security system and localize the manufacturing of vaccines and biomedicines in the...

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Business & Money | Friday 22 September, 2023 1:39 am

Tam Development, SAB sign SAR 25 mln facility agreement

Tam Development Co. announced, on Sept. 20, the signing of a SAR 25 million Shariah-compliant facility agreement with Saudi Awwal Bank (SAB).  The facility has a 12-month duration, with a promissory note worth the amount of...

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Business & Money | Friday 22 September, 2023 1:36 am

RCRC publishes tender for design, implementation of Wadi Laban Bridge

The Royal Commission for Riyadh City (RCRC) announced the launch of a tender for the design and implementation of Wadi Laban Cable-Stayed Bridge. According to the commission’s data, the tender aims to design and implement the development of the Wadi Laban Cable-Stayed Bridge and increase its ...

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