Business & Money | Wednesday 5 August, 2020 11:19 am

Moody's affirms Saudi Re's A3 IFSR rating, stable outlook

Saudi Reinsurance Company (Saudi Re) announced today that Moody’s Investors Service (Moody’s) has affirmed the company's A3 Insurance Financial Strength Rating (IFSR) with a stable outlook.   The affirmation of Saudi Re’s rating reflects its strong brand and market position in...

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Business & Money | Wednesday 5 August, 2020 3:36 am

GLOBAL MARKETS-Gold Soars Past $2,000, Gold up on Stimulus Hopes 2 New York

MSCI's benchmark for global equity markets rose 0.47% after earlier hitting a five-month high, less than 4% from its all-time peak in February. The index was lifted overnight when stocks rallied in Asia on relatively strong manufacturing data from around the world reported on Monday.On Wall Street, ...

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Business & Money | Wednesday 5 August, 2020 1:35 am

Price tags displayed on products must include VAT: Ministry

Saudi Arabia’s Ministry of Commerce emphasized that prices of products in the market must be inclusive of value-added tax (VAT). The displayed prices of goods shall be final prices and should reflect the same in the cashier’s computer system, Saudi Press Agency reported on Tuesday, quoting the...

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Business & Money | Tuesday 4 August, 2020 1:13 pm

Saudi Customs eases restrictions for trucks from GCC states

The Saudi Customs has relaxed coronavirus precautionary measures and restrictions for the movement of trucks coming from other Gulf Cooperation Council (GCC) states.All the trucks carrying goods destined for Saudi Arabia will be allowed to enter through its land ports, according to a circular...

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Business & Money | Tuesday 4 August, 2020 10:17 am

Saudi Arabia’s Mining Sector Grows 3.1% during 1Q of 2020, Targets SR240 b by 2030

Saudi newspapers highlighted in their editorials today a number of issues, at local, regional, and international arenas.Al-Eqtisadiah newspaper said in its editorial that the mining sector will be solid economic future of the Kingdom of Saudi Arabia which has 6 percent of the world's uranium...

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Business & Money | Tuesday 4 August, 2020 3:55 am

Dubai Investments reports net profit of AED 205 million for the six month period ended June 30, 2020

Dubai Investments PJSC [DFM: DIC], the leading, diversified Investment company listed on the Dubai Financial Market, has reported net profit of AED 205 million for the period ending June 30, 2020, compared to AED 353 million for the same period last year.  The drop in net profit is mainly ...

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Business & Money | Monday 3 August, 2020 12:20 pm

Executive Appointment: Feras Al Jaramani joins Mashreq as Head of Public Sector, Healthcare, Education and Energy

Mashreq, one of the leading financial institutions in the UAE, has appointed Feras Al Jaramani as Executive Vice President, Head of Public Sector, Healthcare, Education and Energy. In his role, Feras will be responsible for growing Mashreq’s expanding portfolio across his designated sectors...

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Business & Money | Monday 3 August, 2020 11:33 am

Arada awards AED423 million construction contract to build East Village, the second phase of Sharjah megaproject Aljada

Major contract award to Best Building Contracting Company will result in the construction of 16 apartment blocks and almost 2,000 units in totalEast Village community is now 95% sold out, and will be completed by December 2021 Arada has awarded a major contract to build East Village, the...

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Business & Money | Monday 3 August, 2020 11:18 am

DIFC Academy and LexisNexis MENA strengthen strategic partnership with the launch of two new technology initiatives

The DIFC Academy and LexisNexis MENA are strengthening their strategic partnership with two new initiatives: "The Annual Technology Adoption Index” and "The Legal Tech Glossary." These projects follow five years of fruitful collaboration, including the publication of the official DIFC Law...

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Business & Money | Thursday 30 July, 2020 4:10 pm

The gold price rallies with record ETF inflows while COVID-19 hits consumer demand in H1

The COVID-19 pandemic impacted the consumer sectors of the gold market in H1 2020, with total demand dropping by 6% to 2,076t versus the same period in 2019, according to the World Gold Council’s latest Gold Demand Trends report. However, while overall gold demand fell, H1 saw record flows...

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