Business & Money | Tuesday 5 November, 2024 8:00 am

MUFG signs Memorandum of Understanding with the Public Investment Fund of Saudi Arabia

MUFG and The Public Investment Fund (“PIF”) of Saudi Arabia have today announced that they signed a memorandum of understanding (“MoU”) to collaborate on opportunities of mutual interest to both MUFG and PIF.   The MoU will promote regular engagement between MUFG and PIF,...

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Business & Money | Tuesday 5 November, 2024 8:00 am

du unveils lead acid battery recycling initiative to drive eco-progress in UAE

du, the leading telecom and digital services provider, today announced a new initiative to recycle all spent lead acid batteries from its operations in partnership with Dubatt Battery Recycling. du is taking the lead in the UAE telecom sector in adopting measures that actively reduce its...

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Business & Money | Tuesday 5 November, 2024 8:00 am

Mobily, Telecom Egypt cooperate to land first Saudi subsea cable

Etihad Etisalat Co. (Mobily) and Telecom Egypt, one of the largest subsea cable operators in the region, signed a cooperation agreement to land the first Saudi submarine cable linking Saudi Arabia and Egypt. The new cable, which is wholly owned by Mobily, will pass through the Red Sea,...

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Business & Money | Tuesday 5 November, 2024 8:00 am

Albilad Capital buys Mövenpick Hotel & Residences in Riyadh’s Al-Ghadir for SAR 1B

Albilad Capital, through its Albilad Hospitality Fund, acquired the Mövenpick Hotel & Residences in Riyadh’s Al-Ghadir district in a deal valued at approximately SAR 1 billion. In a statement picked up by Argaam, the company said this acquisition marks a strategic entry for Albilad...

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Business & Money | Tuesday 5 November, 2024 8:00 am

Tadweeer signs SAR 50M agreement with EXIM Bank

National Environmental Recycling Co. (Tadweeer) signed a Shariah-compliant credit facility agreement with the Saudi EXIM Bank, with a total value of SAR 50 million. In a statement to Tadawul, the company said the financing term is for one year from the date of funding the working capital...

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Business & Money | Monday 4 November, 2024 10:38 am

Tubacex announces Mubadala as strategic partner in OCTG Business Through $200 mn agreement

Tubacex Group, a world leader in advanced industrial solutions for the energy and mobility sectors, today announced the closing of a strategic partnership with Mubadala Investment Company (Mubadala), an Abu Dhabi Sovereign Investor, in its Oil Country Tubular Goods (OCTG) business for US$200...

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Business & Money | Monday 4 November, 2024 10:36 am

Dubai South, Indu Kishore Logistics break ground on logistics facility

Dubai South, the largest single-urban master development focusing on aviation, logistics and real estate, and INDU Kishore Logistics, broke ground on a new facility that will be built at Dubai South’s Logistics District. This development marks a significant milestone in the company’s...

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Business & Money | Monday 4 November, 2024 10:34 am

Ministry of Finance commemorates Flag Day

The Ministry of Finance has celebrated UAE Flag Day by raising the national flag at its headquarters in Abu Dhabi and Dubai. Ministry leaders, officials, and employees gathered to raise the flag and recite the oath of loyalty, reaffirming their commitment to the nation and its leadership under ...

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Business & Money | Monday 4 November, 2024 10:31 am

FTA urges Resident Juridical Persons with licences issued in October, November to register for corporate tax before end of November 2024

The Federal Tax Authority (FTA) has urged Resident Juridical Persons with Licences issued in October and November, irrespective of the year of issuance, to promptly submit their Corporate Tax registration application no later than 30 November 2024. In a press statement issued today, the FTA...

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Business & Money | Monday 4 November, 2024 10:29 am

ADIPEC 2024 opens Monday in Abu Dhabi with dedicated new AI Zone

The global energy community will converge in the UAE on Monday, 4 November, as the world’s largest energy event, ADIPEC 2024, opens its doors at the ADNEC Centre in Abu Dhabi.Hosted by ADNOC under the theme Connecting Minds. Transforming Energy, ADIPEC 2024 will explore the transformative role of ...

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