Business & Money | Sunday 4 August, 2024 10:33 am

Derayah REIT leases a hotel tower in Riyadh at SAR 6.5M annually

Derayah Financial, the fund manager of Derayah REIT Fund, announced leasing a tower, located in Al-Olaya Main Street in Riyadh, to a master tenant. In a Tadawul filing, the fund manager noted that the annual rent starts at SAR 5.5 million and escalates to SAR 7.5 million over the lease term,...

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Business & Money | Sunday 4 August, 2024 10:13 am

UAE's real estate sector on upward trajectory in H1 2024

The UAE's real estate sector continued to thrive and attract investment during the first half of 2024, supported by the country's economic and financial stability, and the launch of new world-class projects to meet the rising demand for various property units. According to a report by the...

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Business & Money | Saturday 3 August, 2024 1:03 pm

RAKEZ boosts business growth across sectors through targeted networking events

Ras Al Khaimah Economic Zone (RAKEZ) continues to drive business development and industry synergy through its dedicated series of networking events for local and global investors, highlighting its focus on fostering a collaborative business environment. Recognising the importance of collaboration...

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Business & Money | Saturday 3 August, 2024 12:56 pm

Agreement Between Ajman Department of Finance and Ajman Specialty General Hospital to Enhance Government Procurement System in the Emirate

The Ajman Department of Finance continues its efforts to achieve a qualitative shift in providing services related to government procurement in the emirate, having concluded a new service provision agreement with Ajman Specialty General Hospital. Through this agreement, the hospital will benefit...

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Business & Money | Saturday 3 August, 2024 12:47 pm

Dubai property sales rise to AED49.6 billion in July

Dubai’s real estate market has enjoyed another bumper month, with property sales in July reaching a new peak for 2024 at AED 49.6 billion, a 31.63% increase in value on the same month last year. A market update issued today by fäm Properties reveals that last month’s total of 15,994...

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Business & Money | Saturday 3 August, 2024 12:43 pm

GOSI says 124,000 establishments applied for delay penalty waiver

The General Organization for Social Insurance (GOSI) said more than 124,000 establishments applied for the initiative to waive delay and violation penalties just 30 days before the end of deadline.   In a statement, GOSI urged all establishments and employers to take advantage of the ...

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Business & Money | Saturday 3 August, 2024 12:35 pm

CBUAE, Dubai Courts sign MoU to link electronic services

The Central Bank of the UAE (CBUAE) and the Dubai Courts have signed a Memorandum of Understanding (MoU) aimed at linking electronic services related to the execution of judgments, orders, and decisions issued by the Dubai Courts through the Central Bank's court cases management system. The...

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Business & Money | Saturday 3 August, 2024 12:31 pm

Egyptian Housing Minister praises deep, strong ties between UAE and Egypt

Egyptian Minister of Housing, Utilities and Urban Communities, Engineer Sherif El-Sherbiny, has emphasised the deep and strong fraternal relations between the Arab Republic of Egypt and the UAE. He pointed out that there are significant investment opportunities in various fields, especially in new...

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Business & Money | Saturday 3 August, 2024 12:17 pm

UAE, Azerbaijan agree to develop economic partnership

The ninth session of the UAE-Azerbaijan Joint Intergovernmental Commission (JIC) for Economic, Trade and Technical Cooperation between the two countries was held in the Azerbaijani city of Shusha, chaired by Abdullah bin Touq Al Marri, Minister of Economy; and his Azerbaijani counterpart Mikayil...

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Business & Money | Saturday 3 August, 2024 12:12 pm

Saudia Dairy and Foodstuff Co. Reports Strong Second Quarter Financial Results

 Saudia Dairy and Foodstuff Co. (SADAFCO), the leader in the UHT (Long Life) Milk, Ice Cream and Tomato Paste market in the Kingdom of Saudi Arabia reported a significantly higher net profit (19%) for the second quarter compared to the same quarter last year.  The company reported...

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