Business & Money | Saturday 23 December, 2023 1:24 am

44 large direct deals on IHC worth AED4.458 bn at ADX Thursday

A wave of 44 large direct deals swept over the International Holding Company (IHC) shares on the Abu Dhabi Securities Exchange (ADX) today. According to ADX data, the deals were executed on 11.159 million stocks worth AED4.458 billion at a price of AED399.5 per share. Large direct deals...

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Business & Money | Saturday 23 December, 2023 1:22 am

UAE, Mauritius conclude Comprehensive Economic Partnership Agreement

The United Arab Emirates and Mauritius have concluded the terms of a Comprehensive Economic Partnership Agreement (CEPA), marking the first concluded by the UAE with an African nation and paving the way for increased trade and investment flows and bilateral private-sector collaboration. The...

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Business & Money | Saturday 23 December, 2023 1:17 am

Al Akaria signs SAR 192M contract for residential complex in Riyadh

Saudi Real Estate Co. (Al Akaria) signed a SAR 192 million contract with Rezaik Algedrawy for Contracting Co. for the construction of the residential complex Fai Sedra 1 in Riyadh's Sedra district - Roshn. The residential complex will include 135 villas ranging in size from 250 to 600 square...

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Business & Money | Saturday 23 December, 2023 12:59 am

MODON on track to maximize returns from gov’t procurements: Alkhorayef

Bandar Alkhorayef, Minister of Industry and Mineral Resources and Chairman of the Saudi Authority for Industrial Cities and Technology Zones (MODON), said that industrial cities and various entities within the industrial system are proceeding with achieving national targets by expanding...

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Business & Money | Saturday 23 December, 2023 12:47 am

Deloitte Partners with Fintech Saudi to Launch Makken Program

Deloitte, the leading global professional services firm, is partnering with Fintech Saudi to foster the growth of emerging companies in Saudi Arabia’s financial technology sector through the Makken Program. Saudi Fintech is an initiative by the Saudi Central Bank in collaboration with the Capital ...

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Business & Money | Saturday 23 December, 2023 12:29 am

SAP is Moro Hub's Newest Customer in Joint Initiative to Accelerate Sustainable Digital Transformation

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC), signed an agreement with SAP, a global leader in enterprise software solutions, to offer its state-of-the-art green data center facilities located in the Mohammad Bin Rashid Solar Park and...

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Business & Money | Saturday 23 December, 2023 12:21 am

Vessel traffic declines by over 40% in Bab Al-Mandab Strait

The number of tankers passing the Red Sea’s southern end experienced a steep decline amid increased threats of attacks on ships in the area.   Vessel traffic declined by more than 40% compared to a three-week average. Only about 30 tankers, including crude oil and fuel carriers,...

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Business & Money | Saturday 23 December, 2023 12:13 am

REGA approves executive regulations for real estate consultations, analyses

The Real Estate General Authority's (REGA) board adopted regulatory rules for real estate consultations and analyses, integral to the real estate legislation system.   REGA stated that the new regulations aim to improve the real estate market's efficiency and reliability. They extend ...

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Business & Money | Saturday 23 December, 2023 12:04 am

ACWA Power signs agreement for 800 MW renewable energy project in Uzbekistan

ACWA Power, in collaboration with Saudi Ministry of Energy and Uzbekistan's Ministry of Investment, Industry, and Trade, signed an agreement to implement an integrated 800 MW renewable energy and green hydrogen project. The signing came after a meeting between Saudi Minister of Energy Prince...

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Business & Money | Saturday 23 December, 2023 12:03 am

TDF signs SAR 4.35B agreement to finance The Avenues Khobar

The Tourism Development Fund (TDF) signed a finance agreement at a total of SAR 4.35 billion with a consortium of banks led by Arab National Bank (ANB). The consortium includes Saudi Awwal Bank (SAB), Riyad Bank, Kuwait’s NBK and Shomoul Holding Co. TDF will use the loan to finance the first ...

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