Government | Wednesday 13 January, 2021 1:24 am

Saudi Arabia and Algeria sign MoU to boost cooperation to housing sector

Saudi Arabia has signed a memorandum of understanding (MoU) with Algeria in the field of housing and infrastructure development. The MoU, which aims to activate joint cooperation between the two sides, was signed by Saudi Minister of Housing Majid Al-Hogail and his Algerian counterpart Kamel...

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Technology & IT | Tuesday 12 January, 2021 11:38 am

stc names new CEO

Saudi Telecom Company (stc) has appointed Olayan Mohammed Alwetaid as the group's new CEO starting from 28 March 2021.  With 20-year experience, Alwetaid had worked at Aramco before joining stc where he occupied several positions, according to the company's disclosure...

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Business & Money | Tuesday 12 January, 2021 11:31 am

eXtra sees 36% higher net profits in 2020

The estimated financial results of United Electronics Company (eXtra) recorded a 36.33% increase in net profits after Zakat and tax to SAR 280.3 million in 2020, compared to SAR 205.6 million in 2019. The higher net profits are driven by a 16.121%...

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Business & Money | Tuesday 12 January, 2021 11:28 am

Credit Suisse opens branch in Riyadh

Riyadh – Mubasher: Credit Suisse has inaugurated its branch in Riyadh to promote wealth management services in Saudi Arabia, according to a press release on Monday. The new branch will enable its clients in Saudi Arabia to benefit from an extended wealth management...

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Business & Money | Tuesday 12 January, 2021 11:25 am

Saudi Arabia grants licenses to 903 factories in 2020

Saudi Arabia has granted new licenses to 903 factories with total investments of SAR 23.5 billion in 2020 and with 39,404 licensed workers. A total of 515 factories have started their operations in 2020, the Saudi Ministry of Industry and Mineral...

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Business & Money | Tuesday 12 January, 2021 11:09 am

ADIO accelerates opportunities in Abu Dhabi for startups through partnerships with Microsoft and Plug and Play

The Abu Dhabi Investment Office (ADIO) is partnering individually with Microsoft and Plug and Play on a range of initiatives to provide founders and entrepreneurs with tools and resources to successfully scale their businesses and realise ideas that drive positive impact.Abu Dhabi has built an...

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Business & Money | Tuesday 12 January, 2021 11:05 am

FAB issues five-year US$500 million Sukuk

First Abu Dhabi Bank (FAB) has issued the lowest-ever yield on any five-year MENA bank USD issuance with a US$500 million five-year Sukuk issued at MS+90bps (all-in yield of 1.411 percent) through FAB Sukuk Company Limited.The deal is FAB’s first USD benchmark offering and the first Sukuk issue...

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Environment & Energy | Tuesday 12 January, 2021 11:01 am

Creative Emirati approach to confronting challenges of climate change

The Abu Dhabi Sustainability Week (ADSW), which is being held virtually from 18th to 21st January, 2021, embodies the UAE's proactive approach to addressing the challenges of sustainability and mitigating the effects of climate change. The UAE is a leader amongst the global coalition of...

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Government | Tuesday 12 January, 2021 10:56 am

‘Safe Family, Safe Community’ forum between UAE, Saudi Arabia ends today

The first remote two-day forum between the UAE and Saudi Arabia, held under the patronage of H.H. Sheikha Fatima bint Mubarak, Chairwoman of the General Women's Union (GWU), Chairwoman of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation...

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Business & Money | Tuesday 12 January, 2021 10:48 am

Arada records 35% rise in sales during 2020 to reach AED1.75 billion

SHARJAH, 11th January, 2021 (WAM) -- Arada has reported a robust sales performance for 2020, as the developer benefited from a raft of project handovers and the stable Sharjah real estate market to overcome the effects of the pandemic.During a challenging year for the UAE property sector as a...

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