Business & Money | Saturday 29 July, 2023 1:23 am

PIF, Ma’aden buy 10% of Brazilian Vale’s base metal unit

Brazilian miner Vale signed a binding agreement with Manara Minerals, the joint venture between the Public Investment Fund (PIF) and Saudi Arabian Mining Co. (Maaden), to acquire a 10% stake in the former’s base metal unit.   In a statement, Vale said it also sealed an agreement...

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Business & Money | Friday 28 July, 2023 9:16 pm

The Thai ambassador inaugurates the Thai exhibition 2023... the first exhibition of its kind in the Kingdom

The Kingdom is preparing to receive the first Thai exhibition of its kind, which is scheduled to be held at the Riyadh International Center for Exhibition  andconferences, and it will be opened by His Excellency the Thai Ambassador ( Darm Boontham ) on Sunday, corresponding to August 27,...

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Business & Money | Friday 28 July, 2023 5:37 am

AD Ports Group and Shandong Ports Group extend Cooperation to attract Chinese Automotive Companies

AD Ports Group (ADX: ADPORTS), the leading facilitator of global trade, logistics, and industry, has announced that it has signed multiple collaboration agreements with Shandong Port Group (SPG), a conglomerate based in Shandong Province, China, which provides port operations, port infrastructure...

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Business & Money | Friday 28 July, 2023 5:35 am

Bodour Al Qasimi, BEEAH to boost collaboration on sustainability

The President of American University of Sharjah (AUS) and the Chairperson of Sharjah Research, Technology and Innovation Park (SRTIP) was warmly received by the Group CEO of BEEAH, Khaled Al Huraimel, and a distinguished BEEAH delegation. Sheikha Bodour's visit to BEEAH Group's headquarters...

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Business & Money | Friday 28 July, 2023 5:28 am

Real estate in Ajman valued at AED4.6 billion in H1 2023

According to the Department of Lands and Real Estate Regulation in Ajman, 786 properties in the emirate were valued at AED4.6 billion in the first half of 2023. Eng. Omar bin Omair Al Muhairi, Director-General of the Department, said that the properties included commercial, residential,...

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Business & Money | Friday 28 July, 2023 5:05 am

BHM Capital and Riyad Capital Announce Strategic Market Making Partnership in the GCC Region

BHM Capital, a leading financial institution in the UAE’s capital markets, and Riyad Capital, a prominent financial institution in Saudi Arabia, are pleased to announce their partnership in the field of Market Making. This strategic collaboration aims to leverage the expertise of both entities to ...

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Business & Money | Thursday 27 July, 2023 10:16 am

Azizi Developments partners with German-based Maschinenbau Halberstadt GmbH for Amber and Beachfront

Azizi Developments, a leading private developer in the UAE, has partnered with Maschinenbau Halberstadt GmbH, a renowned German-based, international supplier that manufactures and assembles high-quality, reliable, and environmentally friendly power generating sets, to source top-tier diesel...

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Business & Money | Thursday 27 July, 2023 9:44 am

NMDC Group doubles first half net profit to AED 881mn

National Marine Dredging Group (ADX: NMDC) has announced a significant surge in its net profit during the first half of 2023, reaching AED 881 million. This remarkable achievement reflects the success of the Group’s geographic expansion strategy and the successful execution of major...

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Business & Money | Thursday 27 July, 2023 9:42 am

CBUAE raises base rate by 25 basis points

The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points – from 5.15 to 5.40 percent, effective from Thursday, 27th July, 2023.This decision was taken following the US Federal Reserve Board’s announcement on...

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Business & Money | Thursday 27 July, 2023 9:23 am

Saudi Central Bank Makes Decisions on Repo and Reverse Repo Rates

The Saudi Central Bank (SAMA) decided to raise the rate of Repurchase Agreement (Repo) by 25 basis points to 6.00 percent, and the rate of Reverse Repurchase Agreement (Reverse Repo) by 25 basis points to 5.50 percent. These decisions are in line with SAMA’s mandate of preserving monetary...

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