Business & Money | Thursday 21 December, 2023 9:39 am

Central Bank reports 10% growth in cash deposits to AED687.2 billion by end of October

The Central Bank of the UAE (CBUAE) released data showing cash deposits surged to AED 687.2 billion this October, marking a substantial annual increase of 10.2 percent, or AED 63.7 billion, compared to AED 623.5 billion in October 2022. Breaking it down further, the Central Bank's cash...

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Culture & Education | Thursday 21 December, 2023 9:23 am

Ministry of Culture honours the winners of 17th edition of Al Burda Award

In the presence of His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, His Excellency Sheikh Salem bin Khalid Al Qassimi, Minister of Culture, on Tuesday, honoured 24 winners of the 17th edition of Al Burda Award. The award ceremony, held at Louvre Abu Dhabi, celebrated...

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Business & Money | Thursday 21 December, 2023 8:51 am

Al Akaria’s subsidiary wins SAR 722.1M contract from DGDA

Saudi Real Estate Co.’s (Al Akaria) subsidiary, Saudi Real Estate Infrastructure Co. (Binyah), secured a contract worth SAR 722.1 million, including VAT, from the Diriyah Gate Development Authority (DGDA). The contract entails the execution of excavation works and related activities for...

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Business & Money | Thursday 21 December, 2023 8:49 am

Sports Boulevard sets up REIT worth SAR 1B for Arts District

The Sports Boulevard Foundation signed an agreement with Ajdan Real Estate Development Co. and Albilad Capital to set up a private real estate investment fund worth SAR 1 billion, with the aim of establishing a mixed-use project to develop the Arts District, which is one of the eight areas of...

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Business & Money | Thursday 21 December, 2023 8:47 am

Jabal Omar plans capital hike via SAR 547.5M debt conversion

Jabal Omar Development Co.' s board of directors recommended increasing capital through converting SAR 547.5 million worth of debt into new shares for creditors.   In a Tadawul statement, the company said it aims to improve liquidity and financial health by settling...

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Business & Money | Thursday 21 December, 2023 8:45 am

Cenomi Centers, Cenomi Retail end merger talks

The boards of directors of Arabian Centres Co. (Cenomi Centers) and Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) agreed to end their discussions on a merger, until further notice.   In separate statements to Tadawul, the companies stressed their belief in the strategic benefits...

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Environment & Energy | Thursday 21 December, 2023 8:44 am

Saudi Arabia seeks to provide clean, sustainable energy at competitive price: Minister

Minister of Energy Prince Abdulaziz bin Salman said the ministry is committed to providing clean and sustainable energy at competitive prices to help the Kingdom become a center for modern technologies and industries.   On the sidelines of the Digital Government Forum, the minister...

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Business & Money | Wednesday 20 December, 2023 4:35 pm

New Murabba appointed AtkinsRéalis to masterplan the world’s largest modern downtown in Riyadh

The New Murabba Development Company (NMDC), a fully-owned subsidiary of the Public Investment Fund (PIF), Saudi Arabia, has appointed AtkinsRéalis (TSX: ATRL), a fully integrated professional services and project management company with offices around the world, to support the...

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Business & Money | Wednesday 20 December, 2023 1:01 pm

Azizi Developments partners with Italian brand Fast for Riviera

Azizi Developments, a leading private developer in the UAE, has partnered with renowned Italian brand Fast Spa for the supply of premium outdoor tables for the 35 buildings in the first and second phases of Azizi’s mega-project Riviera, located in the heart of MBR City. Fast Spa, founded in...

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Business & Money | Wednesday 20 December, 2023 12:59 pm

Valuable Capital Group Receives RHQ License From MISA

Value Capital Group Limited (VCGL), a global leading Fintech solution provider, has announced its acquisition of the Regional Headquarters (RHQ) license from the Ministry of Investment of Saudi Arabia (MISA). The license endows VCGL with numerous business benefits for operating within the kingdom,...

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