Business & Money | Tuesday 8 October, 2024 8:00 am

World Future Energy Summit 2025 to champion regional energy growth

The Middle East’s role as a new global fuels hub, the potential impact of Artificial Intelligence (AI) in energy industry transformation, and potential pathways to a sustainable and resilient future are a trio of critical issues to be explored when the World Future Energy Summit returns to Abu...

More Details

Business & Money | Tuesday 8 October, 2024 8:00 am

Sharjah Chamber hosts Building Materials Forum, emphasises its support for construction sector

The Sharjah Chamber of Commerce and Industry (SCCI) hosted the Building Materials Forum, gathering key stakeholders and top professionals, including property suppliers, traders, consultants, contractors, and real estate developers. Held in collaboration with SCCI’s Real Estates Sector...

More Details

Business & Money | Tuesday 8 October, 2024 8:00 am

Emirates Development Bank achieved impressive cumulative financing of AED12.9 bn by Q3

Emirates Development Bank (EDB) today hosted the fifth edition of its EDB Connect forum series at the iEtihad Museum in Dubai. This significant event, held in partnership with the Ministry of Industry and Advanced Technology’s (MoIAT) “Make it in the Emirates" initiative, convened key...

More Details

Business & Money | Tuesday 8 October, 2024 8:00 am

SRC, Damanat sign MoU to guarantee residential mortgage portfolios

Saudi Real Estate Refinance Co. (SRC) signed, on October 6, a Memorandum of Understanding (MoU) with the Saudi Mortgage Guarantees Services Co. (Damanat), which aims to guarantee the residential mortgage portfolios owned by SRC and the portfolios being acquired. The MoU also aims to help...

More Details

Business & Money | Tuesday 8 October, 2024 8:00 am

Al-Jouf Agricultural secures license for solar energy purchase project with Engie

Al-Jouf Agricultural Development Co. obtained licenses from the official authorities regarding the solar energy purchase contract with French energy firm Engie, according to a statement to Tadawul. The implementation of the project will start on Oct. 15, 2024, operations will commence in the...

More Details

Business & Money | Tuesday 8 October, 2024 8:00 am

Alwaha REIT to acquire residential building via new unit issue

Alwaha REIT Fund signed an acquisition agreement in addition to a five-year lease with the current owner of the “Al Jawhara Residential Building”, fund manager Wasatah Capital announced in a statement to Tadawul. The agreement is conditional on completing the procedures to raise the...

More Details

Business & Money | Tuesday 8 October, 2024 8:00 am

Almarai unit to acquire Jordan’s Hammoudeh Food for SAR 263M

Almarai Co.’s subsidiary Teeba Investment for Developed Food Processing signed an agreement to acquire 100% of Jordan’s Hammoudeh Food Industries for SAR 263 million, subject to certain adjustments, according to a statement to Tadawul. This acquisition strengthens Almarai’s position in...

More Details

Business & Money | Tuesday 8 October, 2024 8:00 am

Ladun unit wins SAR 645.7M mixed-use project in Abha

Ladun Investment Co. announced that its subsidiary, Built Industrial Co. won on Oct. 6, a project by the Real Estate Development Fund (REDF) valued at SAR 645.66 million, including value-added tax. According to a statement on Tadawul, the company will implement the works of the multi-use...

More Details

Business & Money | Tuesday 8 October, 2024 8:00 am

CMCER wins SAR 22.8M contract from Ministry of National Guard

Canadian Medical Center Co. (CMCER) was awarded a contract for the recruitment of medical staff in collaboration with the Ministry of National Guard Health Affairs, valued at SAR 22.82 million (VAT inclusive). In a statement to Tadawul, the company pointed...

More Details

Business & Money | Tuesday 8 October, 2024 8:00 am

Saudi Re, Al-Etihad ink SAR 208.7M insurance agreement

Saudi Reinsurance Co. (Saudi Re) signed, on Oct. 6, a reinsurance contract with Al-Etihad Cooperative Insurance Co. at a total value of SAR 208.7 million. The contract entails providing insurance coverage for the financial dues of non-Saudi workers in the event of delinquency of the private...

More Details