Business & Money | Thursday 1 August, 2019 12:11 am

MEFIC Private Equity Opportunities Fund 3 acquires a 44% stake in MERAS ARABIA MEDICAL HOLDING COMPANY, a leading chain of cosmetic dermatology clinics in KSA

MEFIC Capital, in its capacity as fund manager of MEFIC Private Equity Opportunities Fund 3 (the “Fund”), has successfully completed an investment in Meras Arabia Medical Holding Company (the “Company” or “MERAS”), a leading chain of cosmetic dermatology and...

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Business & Money | Wednesday 31 July, 2019 4:49 pm

ENGIE sign a 30 MWp solar PV contract to supply power to NADEC in KSA

NADEC launched the project to provide electricity from a dedicated 30 MWp solar PV facility in NADEC City, in the Haradh region (265 kms South-East from Riyadh) with the primary objective of supporting its energy transition process. The implementation of this project is expected to reduce...

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Business & Money | Wednesday 31 July, 2019 1:23 pm

Capitalizing on the massive MICE & luxury travel market in India, the MILT Congress gathered industry stalwarts in Mumbai & Delhi

The 7th Annual MICE India and Luxury Travel Congress 2019 successfully concluded last week with some path breaking discussions that highlighted the   importance of ‘out of the box initiatives’, hyper- personalization, understanding budgeting realities and creating...

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Business & Money | Wednesday 31 July, 2019 9:05 am

Northern Trust Appointed by Introspect Capital to Provide Global Custody and Brokerage Solutions

Dubai-based asset manager Introspect Capital has appointed Northern Trust (Nasdaq: NTRS) to provide global custody and brokerage services. Through its asset servicing and global capital markets capabilities, Northern Trust is helping drive efficiencies for Introspect Capital across its...

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Business & Money | Wednesday 31 July, 2019 7:05 am

Air Arabia receives the second A321neo LR

Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC), received its second Airbus (A321neo Long Range). The aircraft flew nonstop from Hamburg, Germany to Sharjah International Airport.   The addition of the second A321neo LR will enable Air Arabia ...

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Business & Money | Tuesday 30 July, 2019 3:35 pm

Custodian of the Two Holy Mosques Chairs Cabinet's Session

The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud chaired the Cabinet's session held in Neom, Tabuk Region on Tuesday afternoon. At the outset of the session, the Cabinet offered its sincere condolences to the Custodian of the Two Holy Mosques, His Royal Highness Prince...

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Business & Money | Tuesday 30 July, 2019 12:04 pm

Riyadh’s midscale hotel sector providing the greatest opportunity for developers, says Drees & Sommer

Research from Drees & Sommer’s specialised global hospitality team has identified Riyadh’s three-star market as the best opportunity for growth as the capital undergoes a period of rapid economic diversification with the introduction of a myriad of attractions, theme parks, sporting ...

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Business & Money | Tuesday 30 July, 2019 10:31 am

Mastercard and BENEFIT partner to launch first blockchain payment program in the Middle East

Bahrain’s Electronic Network for Financial Transactions (BENEFIT), and Mastercard have partnered to launch a pilot blockchain program that will enable banks to deliver fast, secure and private cross-border commercial payments.      A historic milestone for the...

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Business & Money | Monday 29 July, 2019 6:36 pm

Jordan Islamic Bank's half-year profit growth 12%

The profits of the Jordan Islamic Bank grew by 12% to KD 39.1 million at the end of June compared to KD 35 million for the same period of 2018. The bank said in a statement issued on Monday that profits after tax rose by 5 percent to about 24.5 million dinars compared to about 23.3 million...

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Business & Money | Monday 29 July, 2019 2:31 pm

ABU DHABI COMMERCIAL BANK PJSC REPORTS FIRST HALF 2019 PRO-FORMA NET PROFIT OF AED 2.782 BILLION

Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) today reported its half-year financial results for 2019 (“H1’19”). The results below are based on the six-month pro-forma financial statements for the combined entity, following the merger between ADCB...

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