Business & Money | Wednesday 1 January, 2025 10:17 am

UAE stock markets post AED257 bn market cap growth driven by strong economy

The UAE's stock markets experienced substantial growth in 2024, driven by a robust economy, foreign investments, and IPOs. Both the Abu Dhabi Securities Exchange and the Dubai Financial Market saw significant increases in their market cap and trading volumes. This growth solidified the UAE's...

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Business & Money | Wednesday 1 January, 2025 10:14 am

stc completes 51% stake sale in TAWAL to PIF

stc Group announced the transfer of Golden Lattice Investment Company (GLIC) ownership to a new entity. Additionally, all procedures for selling its 51% stake in TAWAL to the Public Investment Fund (PIF) were completed on Dec. 31, the telco said in a statement to Tadawul. The transaction...

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Business & Money | Wednesday 1 January, 2025 10:11 am

Jabal Omar sells SAR 1.4B land plot, achieves SAR 918.3M capital gain

Jabal Omar Development Co. signed today, Dec. 31, a contract to sell a plot of land to Durat Taibah Investment Co. within its Makkah project for a total value of SAR 1.35 billion, the company said in a statement to Tadawul. The buyer will bear the real estate transaction tax and brokerage...

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Business & Money | Wednesday 1 January, 2025 10:03 am

Jarir signs MoU with Aman Egypt to launch consumer finance firm

Jarir Marketing Co. signed a non-binding memorandum of understanding (MoU) with Aman Non-Bank Financial Services and Electronic Payments Co. (Aman Egypt) to establish a consumer finance company, with an initial capital of SAR 100 million, according to a statement to Tadawul. The establishment...

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Business & Money | Wednesday 1 January, 2025 10:01 am

Dallah Healthcare inks SAR 195.6M SPA for undeveloped land in Al-Nakheel District

Dallah Healthcare signed a sale and purchase agreement (SPA) with Wahet Al-Nakheel Real Estate Fund for undeveloped land plots, spanning 16,800 square meters, in the Al-Nakheel District. The transaction is valued at SAR 195.65 million. In a statement to Tadawul, the healthcare services...

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Business & Money | Wednesday 1 January, 2025 9:54 am

Retal starts Business Park Fund liquidation, gain anticipated at SAR 45M

Retal Urban Development Co. received a notification from BLOMINVEST, the fund manager of Business Park Fund, regarding starting the procedures to liquidate the fund, by selling the project for a total value amount of SAR 470 million excluding real estate transaction tax. In a statement to...

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Business & Money | Wednesday 1 January, 2025 9:51 am

Savola’s subsidiary to exit business in Iran for SAR 705M

Savola Group signed a binding sale and purchase agreement (SPA) through its fully owned subsidiary, Savola Foods Co. to sell its entire business in Iran for SAR 705 million. In a statement to Tadawul, Savola said the agreement was signed with a foreign buyer, which is not a related party. The...

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Business & Money | Tuesday 31 December, 2024 12:14 pm

Air Arabia inaugurates latest route between Ras Al Khaimah, Tashkent

Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC), celebrated the launch of its latest route from Ras Al Khaimah to Tashkent, Uzbekistan. The new service marks a new milestone in the airline’s continued expansion and contribution to the growth of the...

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Business & Money | Tuesday 31 December, 2024 12:08 pm

UAE to expand CEPAs in 2025, says Thani Al Zeyoudi

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has affirmed that the UAE will continue to increase its Comprehensive Economic Partnership Agreements (CEPAs) in 2025, targeting additional countries to maximise benefits for the UAE and its global trade partners. Minister Al ...

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Business & Money | Tuesday 31 December, 2024 12:02 pm

UAE Fuel Price Committee announces prices for January

The UAE Fuel Price Committee has approved the fuel prices for January 2025 as follows: - Diesel: AED2.68 per litre. - Super "98": AED2.61 per litre. - Special "95": AED2.50 per litre. - E-Plus "91": AED2.43 per litre. ...

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