Business & Money | Tuesday 15 August, 2023 12:00 pm

AD Ports Group delivers 66% revenue growth in Q2'23

AD Ports Group today announced its financial results for the second quarter of 2023 (Q2'23), reporting revenue growth of 66 percent year-on-year (YoY) to AED 2.1 billion, driven by volume growth in key sectors, business diversification as well as local, regional, and international expansion both...

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Business & Money | Tuesday 15 August, 2023 11:58 am

National banks’ financing for business, industrial sectors totalled AED28.4 billion over 5 months

According to the latest statistics from the Central Bank of the UAE, the country’s national banks increased their credit facilities for the business and industrial sectors by around AED28.4 billion in the first five months of this year. The statistics also showed that the two sectors...

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Business & Money | Tuesday 15 August, 2023 11:23 am

ROSHN seeks to increase its 100 mln sqm land bank: Exec

ROSHN Group, a Public Investment Fund (PIF) giga-project, plans to increase its current land bank of 100 million square meters, CNBC Arabia reported, citing Oussama Kabbani, Group Chief Development Officer (GCDO).   The plan aligns with the target set by the company’s board of...

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Business & Money | Tuesday 15 August, 2023 10:15 am

CMA rejects Arab Sea’s capital hike request

The Capital Market Authority (CMA) rejected Arab Sea Information Systems Co.’s application to increase its capital for purchasing a real estate asset. The company submitted the application to increase capital from SAR 100 million to SAR 104.38 million, through the issuance of 437,500...

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Business & Money | Tuesday 15 August, 2023 10:10 am

Riyadh Cables gets SAR 600 mln credit facility from Saudi EXIM Bank

Riyadh Cables Group Co. (RCG) signed, on Aug. 14, a Shariah-compliant credit facility agreement worth SAR 600 million with Saudi Export-Import Bank (Saudi EXIM), to finance the company’s working capital needs of export and pre-export activities. In a statement to Tadawul, Riyadh Cables...

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Business & Money | Tuesday 15 August, 2023 10:00 am

Intigral appoints Khulud Abu Homos as Vice President of Content

Intigral, the media and entertainment arm of stc Group, the region’s engine of digital transformation, is pleased to announce the appointment of Khulud Abu Homos as Vice President of Content. The strategic decision is a testament to the company's ongoing commitment to elevating its content...

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Business & Money | Tuesday 15 August, 2023 12:20 am

Invictus Investment Company surpasses AED 4.2 billion in revenues for the first half 2023

Invictus Investment Company Plc (ADX: INVICTUS), one of the leading agro-food enterprises in the Middle East and Africa, has published its financial results for the fiscal 2023 half year ended June 30, 2023. The company reported a significant increase in business growth and continued...

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Business & Money | Tuesday 15 August, 2023 12:08 am

du achieves major network milestone: 5G traffic now is the most dominant traffic in du mobile network

du, from Emirates Integrated Telecommunication Company (EITC), reached a new milestone in the advancement of its 5G technology. With more than half of its mobile network traffic now driven by 5G usage, du is setting the pace in unlocking the vast potential of this cutting-edge connectivity, while...

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Business & Money | Tuesday 15 August, 2023 12:07 am

AZIZI DEVELOPMENTS’ STAKEHOLDERS CELEBRATE HANDOVER OF BERTON IN AL FURJAN

Azizi Developments, a leading private real estate developer in the UAE, is celebrating the handover of Berton, an outstandingly well-connected residential development strategically located in the heart of Dubai’s new growth corridor, Al Furjan. The project comprises 190 studios, 41 one- and...

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Business & Money | Monday 14 August, 2023 1:34 pm

Ma'aden renews deal to supply 600,000 tons of fertilizers to Bangladesh

Saudi Arabian Mining Co. (Maaden) renewed its agreement with Bangladesh Agricultural Development Corp. to supply 600,000 tons of fertilizers, Saudi Press Agency reported.   The company pointed out that this partnership has continued for several years, confirming Maaden’s commitment ...

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