Business & Money | Wednesday 7 June, 2023 11:47 am

Emirates Islamic and Arab payment system Buna partner to facilitate payments and transfers within the Arab region

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has announced its partnership with the Arab payment system Buna, to enhance and facilitate cross-border transactions in the Arab region. Buna is operated by the Arab Regional Payments Clearing and Settlement...

More Details

Business & Money | Wednesday 7 June, 2023 9:53 am

A novel multinational partnership is fostering the advancement of LWK + PARTNERS and stimulating Chinese investment in the GCC

Abu Dhabi and Riyadh-based Opulence Capital Management (OCM) and Hong Kong-based LWK + PARTNERS (subsidiary of Hong Kong Stock Exchange listed C Cheng Holdings) have linked an expansive partnership that will support and strengthen the bilateral relations of the Peoples Republic of China and the...

More Details

Business & Money | Wednesday 7 June, 2023 8:56 am

World Bank expects Saudi economy to grow by 3.3% in 2024

Saudi Arabia's economy is set to grow by 3.3% and 2.5% in 2024 and 2025, respectively, said the World Bank, in a report issued today. It pointed out that this growth is driven by government investments and continued strong activity in the services sector. The bank also reiterated its...

More Details

Business & Money | Wednesday 7 June, 2023 8:54 am

Keolis pledges to reduce carbon emissions in support of UAE Net Zero 2050 Strategic Initiative

Pledge signed at National Climate Ambition Dialogue held as UAE prepares to host UN COP28 summit  Keolis, a global leader in public transportation services, has proudly announced a momentous commitment to supporting the UAE in reducing their carbon emissions and embracing sustainable...

More Details

Business & Money | Wednesday 7 June, 2023 8:11 am

Seera scraps Clarion hotel deal with AlUla Development

Seera Group Holding announced the termination of the contract signed with AlUla Development Co. due to higher costs of establishing the project than agreed and the infeasibility of investing in it, according to a Tadawul statement. The total amount of the partner’s contribution to the...

More Details

Business & Money | Tuesday 6 June, 2023 4:15 pm

NEOM secures SAR 21 bln investments to build workforce residential communities

NEOM announced today, June 6, that it has finalized contracts with investors for the first phase of its residential communities’ expansion, a social infrastructure project that will house the region’s growing workforce.The agreement amounts to a total value of over SAR 21 billion, NEOM said in...

More Details

Business & Money | Tuesday 6 June, 2023 2:55 pm

Real estate deals hit 3-year low in Shawwal at SAR 8.7 bln

The value of Saudi Arabia's real estate transactions fell 41% year-on-year to nearly SAR 8.7 billion in Shawwal 1444 (April/May 2023), Ministry of Justice data showed. The real estate deals dropped by 24%, or SAR 2.7 billion, month-on-month (MoM). Deals executed in Shawwal 1444 are the...

More Details

Business & Money | Tuesday 6 June, 2023 2:33 pm

Investcorp Releases 2022 Annual ESG Report Demonstrating Commitment to Responsible Investing

 Investcorp, a leading global alternative investment firm, today released the latest edition of its annual ESG report. The report, titled ‘Responsible Growth’, was released at SuperReturn Berlin, where Investcorp are headline sponsors.  The latest edition of the report outlines...

More Details

Business & Money | Tuesday 6 June, 2023 11:30 am

Al Qandeel Contracting secures main works award for DAMAC Hills 2

UAE-based Al Qandeel Contracting LLC has been awarded a contract of AED236 million, for main works at DAMAC’s master development, DAMAC Hills 2. The scope of works will include construction of the main works package for 515 villas at the Camelia cluster, located within the 55 million...

More Details

Business & Money | Tuesday 6 June, 2023 10:10 am

Big 5 Global Impact Awards to celebrate sustainable development, technology and digital achievements in 19 categories aligned with the goals of COP28

Celebrating the achievements and transformation of the construction industry in the Middle East, Africa and South Asia (MEASA), entries have now opened for Big 5 Global Impact Awards 2023. Returning for its 3rd edition and hosted during Big 5 Global, this year the highly competitive...

More Details