Government | Monday 2 September, 2024 8:52 am

Minister of Industry and Mineral Resources Begins Official Visit to Singapore

Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef begins today an official visit to the Republic of Singapore.The visit aims to strengthen industrial cooperation between the two countries, explore opportunities in automation and smart manufacturing solutions, and advance...

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Business & Money | Monday 2 September, 2024 8:25 am

Al Akaria’s Binyah wins SAR 660.4M Green Riyadh project

Saudi Real Estate Infrastructure Co. (Binyah), a subsidiary of Saudi Real Estate Co. (Al Akaria), was awarded the "Treated Water Network for the Green Riyadh Program—Package 11" project by the Royal Commission for Riyadh City (RCRC), at nearly SAR 660.36 million, including VAT. In a...

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Business & Money | Sunday 1 September, 2024 11:46 am

AED1.1 billion Islamic Treasury Sukuk issued for August 2024

The Ministry of Finance, as the issuing authority, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, announced the results of the AED1.1 billion Islamic Treasury Sukuk (T-Sukuk) Auction, which is part of the Islamic T-Sukuk issuance programme for August 2024 ...

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Business & Money | Sunday 1 September, 2024 11:44 am

Subscription to September issue of Sah to start tomorrow; return set at 5.31%

Subscription to the government-backed savings product for individuals (Sah) will start tomorrow, Sept. 1. Shariah-compliant securities are issued by the Saudi Ministry of Finance and arranged by the National Debt Management Center (NDMC).The return is...

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Business & Money | Sunday 1 September, 2024 11:21 am

ACWA Power hires financial advisors for capital hike

ACWA Power Co. appointed Citigroup Saudi Arabia, SNB Capital, and J.P. Morgan Saudi Arabia as financial advisors on Aug. 31.They will advise on the company’s rights issue to raise capital. The planned capital hike will support the company’s new growth strategy approved in 2023, which aims...

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Business & Money | Sunday 1 September, 2024 10:45 am

UAE chairs 114th session of Arab Economic and Social Council

The UAE is chairing the 114th regular session of the Arab Economic and Social Council (AESC), which will begin tomorrow, Sunday, and continue until next Thursday at the headquarters of the General Secretariat of the Arab League. The session will address issues of joint Arab cooperation in...

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Business & Money | Sunday 1 September, 2024 10:42 am

UAE supplies half of Japan’s oil imports in July

Japan’s oil imports from the UAE reached 31.07 million barrels, accounting for 49.1 percent of total imports in July 2024, according to data from the Agency for Natural Resources and Energy under Japan’s Ministry of Economy, Trade and Industry. The data shows that Japan imported...

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Business & Money | Sunday 1 September, 2024 10:22 am

Chemanol inks technical licensing agreement for MDEA project

Methanol Chemicals Co. (Chemanol) signed a technical licensing agreement with a foreign company that owns the technology to produce methyl diethanolamine (MDEA) at a production capacity of 25,000 metric tons per year. In a statement to Tadawul, the company said the project’s initial...

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Business & Money | Sunday 1 September, 2024 10:19 am

ACWA Power signs SAR 9.7B agreements for 3 solar PV plants

ACWA Power Co. signed financing agreements for three major solar photovoltaic (PV) projects - Haden, Muwyah and Al Khushaybi - in Makkah and Qassim Provinces, each with a production capacity of 2,000 MW, 2,000 MW, and 1,500 MW, respectively. In a statement on Tadawul, the company said that the ...

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Business & Money | Sunday 1 September, 2024 10:18 am

du and Paltel forge partnership to establish new express route between UAE and Palestine

 du, from Emirates Integrated Telecommunications Company (EITC), and Palestine Telecommunications Company (Paltel), have officially inked the du-Pal Express Route Agreement. This initiative aims to construct an express link between the two countries, catering to escalating market demands with...

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