Business & Money | Saturday 27 July, 2024 6:29 am

China's Baosteel doubles investment in steel plates in Saudi Arabia to $1B

China's biggest listed steelmaker, Baoshan Iron and Steel Co. (Baosteel) has doubled its investment in the steel plate manufacturing complex in Saudi Arabia to reach $1 billion.  According to Bloomberg, the company announced that it will own a 50% stake in the joint venture. Saudi...

More Details

Business & Money | Saturday 27 July, 2024 6:26 am

SABIC to disclose Q2 2024 earnings in press conference on Aug. 1

Saudi Basic Industries Corp. (SABIC) will hold a press conference on Aug. 1 to discuss the company’s Q2 2024 performance and financial results.   According to consensus estimates, SABIC is forecast to record a net profit of SAR 759.61 million in Q2 2024, compared to SAR 1.2 billion ...

More Details

Business & Money | Saturday 27 July, 2024 6:20 am

Riyadh Development says asset valuation for Dirah district development stands at SAR 1.5B

Riyadh Development Co. said that the average asset valuation exercise for the proposed partnership with Riyadh Holding Co. to develop Dirah district amounts to SAR 1.5 billion (fair value based on latest valuation).   The new entity’s portfolio comprises commercial centers on a...

More Details

Business & Money | Saturday 27 July, 2024 6:16 am

SAMA Governor: International trade restrictions threaten global economy in medium term

Ayman Al-Sayari, Governor of the Saudi Central Bank (SAMA), said the key risks facing the global economy in the medium term include rising geopolitical conflicts, growing concerns about economic fragmentation among world economies, and the implications of increasing restrictions on international...

More Details

Business & Money | Saturday 27 July, 2024 6:03 am

flynas signs agreement to buy 160 Airbus aircraft

Saudi Arabia’s leading low-cost carrier flynassigned an agreement with Airbus to buy 160 new aircraft, increasing its total orders to 280 over seven years, which marks one of the largest aircraft orders in the region.   According to the agreement, flynas confirmed that the 160...

More Details

Business & Money | Friday 26 July, 2024 1:34 pm

ThinkMarkets Integrates with TradingView

London - ThinkMarkets, a leading multi-asset trading provider, has recently announced the integration of its proprietary trading platform ThinkTrader with TradingView. The partnership allows ThinkMarkets’clients to connect their ThinkTrader trading accounts to TradingView – enabling them to...

More Details

Business & Money | Friday 26 July, 2024 12:32 am

DMCC announces 9% growth in membership of Chinese companies during H1 2024

The Dubai Multi Commodities Centre (DMCC) has announced 9 percent growth in its intake of companies from China in the first half of 2024, taking the total number of Chinese members in its free zone to 900. The announcement came as DMCC concluded its latest Made For Trade Live roadshow in...

More Details

Business & Money | Friday 26 July, 2024 12:26 am

Thara Centre for Entrepreneurship, Ruya Bank to provide innovative banking services

The Thara Centre for Entrepreneurship at Ajman Chamber has signed a memorandum of understanding (MoU) with Ruya Bank to provide innovative proactive banking services that meet the needs of Ajman Chamber members from private sector establishments and entrepreneurs. This MoU was signed by Marwan ...

More Details

Business & Money | Friday 26 July, 2024 12:21 am

Dubai International Chamber attracts 24 multinational companies during H1 2024

Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has achieved a year-over-year (YoY) growth of 54% in the number of multinational companies (MNCs) and small and medium enterprises (SMEs) it attracted to the emirate, which increased from 56 in the first half of...

More Details

Business & Money | Friday 26 July, 2024 12:10 am

Zain KSA Launches Phase II of E-waste Recycling Campaign in Collaboration with Ertiqa

As part of its corporate sustainability strategy and echoing its commitment to environmental preservation in the Kingdom, Zain KSA has signed a strategic partnership with the non-profit organization Ertiqa to roll out the second phase of its e-waste management and recycling campaign. Through this...

More Details