Environment & Energy | Monday 16 September, 2024 8:46 am

Maaden signs SPSA to take over Maaden Bauxite, Maaden Aluminium

Saudi Arabian Mining Co. (Maaden) signed today, Sept. 15, a share purchase and subscription agreement (SPSA) with Alcoa Corporation (guarantor), AWA Saudi Limited (first seller) and Alcoa Saudi Smelting Inversiones S.L. (second seller), according to a Tadawul filing. Under the deal, Maaden...

More Details

Business & Money | Monday 16 September, 2024 8:45 am

Ministry of Industry aims to cut new project costs in Saudi Arabia

Bandar Alkhorayef, Minister of Industry and Mineral Resources, said that opening a factory in Saudi Arabia is now easier than opening a restaurant, thanks to the facilitated procedures.   In his speech today at the SME's Support Center, Alkhorayef explained that the...

More Details

Environment & Energy | Monday 16 September, 2024 8:40 am

TAQA Announces New Unified Customer Facing Distribution Company and Launches New Brands for its Group Companies

Abu Dhabi National Energy Company (“TAQA”), one of the largest listed integrated utility companies in Europe, the Middle East and Africa (EMEA), announced today a new brand identity for its group of companies. The move is a milestone in the transformation and growth of TAQA and underpins the...

More Details

Beauty & Style | Sunday 15 September, 2024 11:55 am

"Jazeera Paints" Held the Second Edition of "INJZ" Seminar in Khobar

Following a remarkable success, “Jazeera Paints”, the leading company in the industry of paints, colors and construction solutions in KSA and MENA, recently organized the second edition of the "INJZ" seminar in Khobar. The event brought together a select group of experts, specialists, and...

More Details

Technology & IT | Sunday 15 September, 2024 10:56 am

HONOR Announces the Official Availability of the Thinnest & Lightest AI Foldable Smartphone HONOR Magic V3

Global technology brand HONOR announced the availability of the highly anticipated HONOR Magic V3, the latest innovation in the foldable smartphone market. Following a tremendously successful pre-order campaign, the HONOR Magic V3 is now available to consumers in KSA.  This revolutionary...

More Details

Business & Money | Sunday 15 September, 2024 9:32 am

ADGM grants PGIM Financial Services Permission

PGIM, the global investment management business of Prudential Financial, Inc., has received Financial Services Permission (FSP) to operate in Abu Dhabi Global Market (ADGM) and has opened a new office in Abu Dhabi, located in the city’s financial district. Establishing its local entity marks ...

More Details

Business & Money | Sunday 15 September, 2024 9:31 am

Ajman real estate transactions reach AED1.57 billion in August

Omar bin Omair Al Muhairi, Director-General of Ajman's Department of Lands and Real Estate Regulation, said that the total number of real estate transactions in the emirate reached 1,264 in August with a total value of over AED1.57 billion.The total trading volume amounted to AED950 million from...

More Details

Business & Money | Sunday 15 September, 2024 9:29 am

Moody’s forecasts Islamic finance to outpace conventional banking in GCC

Moody's Ratings has forecast that the profitability of Islamic banks in Gulf Cooperation Council (GCC) countries will remain strong over the next 12 to 18 months. In its report today, the agency attributed the strong profitability of Gulf Islamic banks to robust commercial activity driven by...

More Details

Business & Money | Sunday 15 September, 2024 9:24 am

UAE's banking sector net international reserves increase by 8.1 percent in H1 2024

Net international reserves of the UAE’s banking sector increased by 8.1 percent, or AED92.3 billion, during the first half of 2024 (H1 2024), reaching AED1.238 trillion at the end of June, compared to AED1.145 trillion at the end of the same period last year. The Central Bank of the UAE’s...

More Details

Business & Money | Sunday 15 September, 2024 9:23 am

Bank of Russia raises key rate by 100 bp to 19% per annum

The Bank of Russia raised the key rate by 100 basis points to 19 percent per annum and indicated the possibility of raising the figure once again at the next meeting, according to a press release issued following the meeting of the regulator's Board of Directors. "On 13 September 2024, the...

More Details