Business & Money | Sunday 24 December, 2023 1:51 pm

Hamriyah and Deira ports record AED 12.133b in customs declaration value for first nine months of 2023

Dubai Customs plays a crucial role as the frontline defense for community security, consistently advancing its customs centers to safeguard and facilitate maritime trade. H.E. Ahmed Mahboob Musabih, Director General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation, recently visited ...

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Business & Money | Sunday 24 December, 2023 9:48 am

AMAK starts tests at new processing plant, expects to continue in Q1 2024

Almasane Alkobra Mining Co. (AMAK) commenced the operational readiness tests for the new processing plant in December 2023, but does not expect to complete the tests by the end of 2023 as announced earlier. The company said the tests are likely to continue during Q1 2024.   The delay ...

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Business & Money | Sunday 24 December, 2023 9:25 am

Kingdom Holding sets up JV to develop tourist resort

Kingdom Holding Co. (KHC) incorporated a joint venture (JV), named East Shura III Real Estate Co., the company said in a filing to Tadawul.   The JV will develop a tourist resort, to be operated by Four Seasons hotels and resorts group on the Shura Island, Saudi Arabia's west...

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Business & Money | Sunday 24 December, 2023 8:46 am

Global outstanding sukuk market hits $823.4B at Q3 2023-end: Fitch

Bashar Al-Natoor, Global Head of Islamic Finance - Managing Director, Fitch Ratings, said that the value of global outstanding sukuk market rose by 9.8% year-on-year (YoY) to $823.4 billion at the end of Q3 2023, the UAE-based Emirates News Agency (WAM) reported.  At the end of...

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Business & Money | Sunday 24 December, 2023 8:44 am

Saudi EXIM signs MoU with NEXI to enhance mutual exports

The Saudi Export-Import (Saudi EXIM) Bank and Nippon Export and Investment Insurance Company (NEXI), a Japanese government-owned insurance corporation signed an MOU to establish guiding principles for cooperation and bilateral relations and enhance the export of products and services between both...

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Business & Money | Sunday 24 December, 2023 8:41 am

Ladun’s subsidiary wins SAR 80.6M project

Ladun Investment Co. said its subsidiary Built Industrial Co. was awarded a project by KIDANA, a subsidiary of Makkah Province Development Authority, at a total value of SAR 80.6 million (including VAT) to build a toilets complex at the Jamarat facility.In a statement to Tadawul, the company...

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Business & Money | Saturday 23 December, 2023 1:39 am

ADDED unveils a platform to enhance manufacturers’ access to financing

The Abu Dhabi Department of Economic Development (ADDED) has launched ‘Business Financing Facilitation Platform’ to enhance manufacturers’ access to financing as part of its initiatives to achieve objectives of the Abu Dhabi Industrial Strategy (ADIS) aiming to strengthen the Emirate’s...

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Business & Money | Saturday 23 December, 2023 1:26 am

TAQA, GS Inima, EWEC announce financial closing of AED1.6bn Shuweihat 4 seawater desalination project

Abu Dhabi National Energy Company PJSC (TAQA), alongside GS Inima, a global leader in water desalination by reverse osmosis, and Emirates Water and Electricity Company (EWEC) today announced the successful financial closing of the AED1.6 billion (US$444 million) low-carbon intensive Shuweihat 4...

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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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