Business & Money | Saturday 6 January, 2024 5:49 am

Ministry of Commerce issues 37,500 e-commerce registers in Q4 2023

The total number of e-commerce registers jumped 24% to 37,481 in Q4 2023, from 30,190 in Q4 2022, the Ministry of Commerce said in its quarterly business sector bulletin. The total number of commercial registers reached 95,860 in the fourth quarter of the year. Riyadh had the largest...

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Business & Money | Friday 5 January, 2024 3:44 am

Industry Ministry issues 130 licenses worth SAR 24.3B in November

The Ministry of Industry and Mineral Resources issued 130 new industrial licenses in November, at a total investment value of SAR 24.3 billion. The new licenses covered five industrial activities with 20 licenses issued in the food production sector, followed by manufacturing of ...

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Business & Money | Friday 5 January, 2024 3:23 am

Yanbu Industrial Port Receives First RORO Vessel, Carrying Nearly 2,000 Cars

The King Fahad Industrial Port in Yanbu welcomed the arrival of the "Hoegh Sydney," marking the first-ever roll-on/roll-off (RORO) vessel received through transshipment. The milestone was made possible by the partnership with global maritime transportation services provider Hoegh Autoliners.The...

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Business & Money | Friday 5 January, 2024 1:55 am

UAE, Saudi Arabia, and Qatar spearheading quantum computing development in the Middle East

The rapid advancement of quantum computing has ignited a fierce race for the next era of computing innovation globally and across the Middle East, according to new research from Frost & Sullivan. While the United States and China hold the top positions in quantum computing and cryptography...

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Business & Money | Friday 5 January, 2024 1:50 am

UAE, Jordan discuss elevating commercial, investment relations

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Bisher Khasawneh, Prime Minister of Jordan, discussed ways of enhancing trade and investment relations between the UAE and Jordan to stimulate joint economic growth and create more opportunities for cooperation between their...

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Business & Money | Friday 5 January, 2024 12:52 am

China's central bank adds liquidity via reverse repos

China's central bank conducted 14 billion yuan ($1.97 billion) of seven-day reverse repos at an interest rate of 1.8 percent Wednesday, reported Xinhua. The move aims to keep liquidity in the banking system reasonable and ample, the People's Bank of China said in a statement. A reverse...

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Business & Money | Friday 5 January, 2024 12:46 am

ADIB Digital Factory adopts generative AI to elevate productivity and efficiency

Abu Dhabi Islamic Bank, a leading financial institution, announces the implementation of "GitHub Copilot for Business," an AI-powered tool set to revolutionise operations within the bank. This innovative technology aims to elevate productivity and efficiency by harnessing generative AI capabilities ...

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Government | Thursday 4 January, 2024 1:37 pm

Al-Jadaan ratifies borrowing plan for 2024

Minister of Finance Mohammed Al-Jadaan ratified the Kingdom's annual borrowing plan for the year 2024, after it was approved by the National Debt Management Center (NDMC) board in its latest meeting.   According to NDMC statement, the plan includes the key developments in public debt ...

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Environment & Energy | Thursday 4 January, 2024 9:28 am

Abu Dhabi unveils 1st processing facility for enzyme-based fuel additives in Middle East & Africa

The Industrial Development Bureau (IDB), the Abu Dhabi Department of Economic Development’s (ADDED) arm to develop and regulate the industrial sector, has announced a groundbreaking collaboration with XMILE Group to establish a first-of-its-kind processing facility in the Middle East & Africa ...

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Business & Money | Thursday 4 January, 2024 9:03 am

KEIR, National Grid SA sign SAR 14.05M contract

KEIR International Co. signed today, Jan. 3, a SAR 14.05 million contract with the National Grid-SA to implement a cable circuit replacement project at a station in Riyadh, according to a statement to Tadawul.    The company will provide a 132-kilovolt...

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