Business & Money | Saturday 30 December, 2023 12:54 am

Saudi non-oil private sector investments 'key' in driving growth: IMF

The International Monetary Fund (IMF) said that robust non-oil private sector investments in Saudi Arabia will be the main factor in driving growth.   This comes with support from accelerating non-oil activities, including various major projects that underpin and further strengthen...

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Business & Money | Saturday 30 December, 2023 12:48 am

Accor plans to open 50 hotels in Saudi Arabia, Africa: Official

France's Accor plans to open 50 hotels in Saudi Arabia and Africa, Sabq newspaper reported, citing Jean Recher, Regional Vice-President for Development of Luxury Brands.   Saudi tourism sector is a new market for the company, Recher said, adding that Accor is restructuring its...

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Business & Money | Saturday 30 December, 2023 12:41 am

Industry Ministry resumes red sand exports from Eastern Province mining complex

The Ministry of Industry and Mineral Resources resumed the exports of red sand (sand dunes) from the licensed mining complex in Ghunan, the Eastern Province.   In a statement, the ministry added that this marks the first stage of resuming sand and gravel exports from several licensed ...

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Business & Money | Saturday 30 December, 2023 12:39 am

Alstom signs over EUR500M contract for AlUla tramway with RCU

France-based global rail transport company Alstom signed a contract valued at more than EUR 500 million with The Royal Commission for AlUla (RCU) to build the AlUla tramway.   The tram route is battery powered.   The low-carbon AlUla tramway will have 20 trains running ...

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Business & Money | Saturday 30 December, 2023 12:36 am

Giza Systems plans $140M investments in Saudi Arabia; to enter Oman, Kuwait in 2024

Egypt-based Giza Systems Co. is planning $200 million investments next year, of which $140 million, or 70% of the company’s investments, will be injected to boost the company’s presence in Saudi Arabia, Chairman Osama Sorour told Asharq News.   Giza Systems pumped $450 million...

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Business & Money | Saturday 30 December, 2023 12:16 am

e& ends discussions to up stake in Mobily

Abu Dhabi-listed telecom operator e& announced terminating discussion on a possible increase in its holding in Etihad Etisalat Co. (Mobily). The UAE’s telecom giant decided not to pursue the potential transaction.   In March 2022, Mobily said e& approached to discuss...

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Business & Money | Friday 29 December, 2023 3:02 am

Bahri Logistics Partners with Saudi Arabia Railways to Provide International Freight Forwarding Services

Bahri Logistics, a global leader in logistics and transportation and one of the six business units of Bahri, has entered into an international freight forwarding service agreement with Saudi Arabia Railways (SAR). SAR is the owner and operator of the railway networks in Saudi Arabia, which...

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Government | Friday 29 December, 2023 2:28 am

DC4All: An Integrated Legal Platform Serving a Diverse Community with Distinguished Judicial Services

In a move that marks a significant milestone, Dubai Courts has launched ‘DCAll’, an all-encompassing array of legal and judicial services designed to cater to a multicultural populace. This initiative stands as a powerful testament to Dubai Courts’ forward-thinking approach in delivering a...

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Government | Friday 29 December, 2023 1:58 am

Dubai Customs' Operation ‘Wheelhouse’ Thwarts Smuggling of 234.68 Kilograms of Hashish

In a ground-breaking operation dubbed ‘Wheelhouse’, Dubai Customs intercepted the smuggling of 234.68 kilograms of narcotics, specifically hashish. The operation, carried out at the Dubai Creek and Deira Wharfage Customs Center, stopped a wooden ship that raised suspicion upon arrival to the...

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Business & Money | Friday 29 December, 2023 1:55 am

Construction in steady progress on DAMAC’s Safa TWO de GRISOGONO luxury tower

DAMAC Properties, a leading luxury real estate developer in the UAE, has announced construction updates for its prestigious branded tower Safa Two de GRISOGONO.    The renowned property developer has revealed a phase-by-phase timeline on works for the upcoming project with an...

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