Business & Money | Wednesday 19 March, 2025 10:29 am

AlBalad AlAmeen, Sumou Holding ink 2 MoUs

AlBalad AlAmeen for Development and Urban Regeneration Co., the investment arm of the Municipality of Makkah, signed a memorandum of understanding (MoU) with Sumou Holding Co. to launch a SAR 4 billion investment fund. The fund will finance the superstructure development of the Sumou Suburb...

More Details

Business & Money | Wednesday 19 March, 2025 10:23 am

NDMC closes March issuance of Sukuk program at SAR 2.6B

The National Debt Management Center (NDMC) closed receiving investor orders for its domestic issuance for March 2025, under the Saudi Arabian Government SAR-denominated Sukuk Program. The total volume allocated was SAR 2.64 billion, NDMC said in a statement today, March 18. The sukuk...

More Details

Business & Money | Wednesday 19 March, 2025 10:16 am

GAC seeks public input on draft to enhance competition in food delivery platforms sector

The General Authority for Competition (GAC) invited public input on the draft guideline to enhance competition in the food delivery platforms sector through the Istitlaa platform, with voting set to close on April 12. The project aims to regulate the activities of food delivery platforms in...

More Details

Business & Money | Wednesday 19 March, 2025 10:14 am

Lucid aims to export 92% of Saudi plant's output: Middle East VP

Faisal Sultan, Vice President, Managing Director of Lucid Middle East, said the company aims to export approximately 92% of its Saudi plant's electric vehicle (EV) production, with 13% earmarked for GCC markets. The construction of the factory — currently underway in King Abdullah Economic...

More Details

Business & Money | Wednesday 19 March, 2025 10:11 am

Emaar EC signs binding amendment, restructuring agreement with PIF

Emaar The Economic City’s (Emaar EC) signed on March 18 a binding amendment and restructuring agreement for the existing shareholder loan agreement with the Public Investment Fund  (PIF), in order to provide a loan of up to SAR 1 billion. According to a statement to Tadawul, Emaar...

More Details

Business & Money | Wednesday 19 March, 2025 10:07 am

20% rise in licencing service providers’ compliance with regulations, legislation: RTA

Dubai’s Roads and Transport Authority (RTA) reported that inspection and audit operations of licencing activities throughout 2024 led to a significant 20 percent increase in compliance among service providers with laws, regulations, and legislation compared to 2023. Additionally, the...

More Details

Business & Money | Wednesday 19 March, 2025 10:04 am

ADNOC Drilling approves $788 million 2024 dividend, accelerates AI-enabled expansion

ADNOC Drilling Company PJSC confirmed shareholders’ approval of all agenda items at its Annual General Meeting, including the distribution of its final cash dividend payment for the year ended 31st December 2024. ADNOC Drilling’s full-year revenue increased significantly to a record $4.034 ...

More Details

Business & Money | Wednesday 19 March, 2025 9:53 am

Emirates Group renews Rolls-Royce Leadership Programme for UAE Nationals

Emirates Group has renewed its Rolls-Royce Leadership Programme for another 5 years, as part of its continued efforts to develop and empower the UAE national leadership skills and competencies. The Memorandum of Understanding (MoU) for the renewal was signed by Adel Al Redha, Deputy President...

More Details

Business & Money | Wednesday 19 March, 2025 9:51 am

Etihad Airways unveils UAE National Talent Development Strategy

Etihad Airways has unveiled its UAE National Talent Development Strategy, a groundbreaking long-term programme aimed at developing Emirati professionals, cultivating expertise, and positioning the airline as the employer of choice for UAE Nationals.As the UAE’s aviation industry undergoes rapid...

More Details

Business & Money | Wednesday 19 March, 2025 9:49 am

UBF: Customer awareness first, strongest line of defence against financial fraud

The UAE Banks Federation (UBF), the sole representative and unified voice of UAE banks, has reiterated its call for customers to take necessary precautions against financial fraud, particularly during holiday seasons that witness a surge in promotional offers through digital channels. The...

More Details