Business & Money | Sunday 21 July, 2024 9:58 am

RAKBANK issues first ever public Social Bond in the GCC.

RAKBANK is pleased to announce the successful issuance of its 5-year Euro Medium-Term Note (EMTN) Bond under its Social Finance Framework. Given the very strong demand and investor interest, it was oversubscribed by more than 3X allowing us to upsize the issue to USD 600MM and tighten the pricing...

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Business & Money | Sunday 21 July, 2024 9:54 am

Akasa Air Commences Operations from Jeddah; and Strengthens Its Presence in the Kingdom of Saudi Arabia

Akasa Air, India's fastest-growing airline, commenced operations from Jeddah, connecting it with two prominent Indian cities – Mumbai and Ahmedabad with direct flights. The inaugural flight on 15th July 2024 departed Chhatrapati Shivaji Maharaj International Airport in Mumbai at 1935hrs IST...

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Business & Money | Sunday 21 July, 2024 9:52 am

Saudi Esports Federation Legacy Museum opens at the SEF Arena at Boulevard Riyadh City

The Saudi Esports Federation (SEF) today opened a Legacy Museum in Riyadh, documenting the work of the federation since its inception and celebrating Saudi Arabia’s impact on the global gaming and esports industry. The museum, located at the SEF Arena at Boulevard Riyadh City, features...

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Business & Money | Sunday 21 July, 2024 9:49 am

UAE launches global initiative to build 10 hospitals to address critical healthcare gaps as part of Zayed Humanitarian Legacy Initiative

The United Arab Emirates has unveiled an ambitious program aimed at bridging critical healthcare gaps worldwide as part of the Zayed Humanitarian Legacy Initiative, announced in March of this year by President His Highness Sheikh Mohamed bin Zayed Al Nahyan. With a substantial financial investment...

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Business & Money | Sunday 21 July, 2024 8:28 am

Azizi Developments and IFG join forces for Burj Azizi skyscraper

Azizi Developments, a leading private developer in the UAE, has signed an agreement with International Foundation Group LLC, which specializes in deep foundation and ground solutions, for the piling, shoring, excavation, and dewatering works for Azizi’s second tallest tower in the world, Burj...

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Business & Money | Saturday 20 July, 2024 1:01 am

NHC, China's CSCEC ink deal to build 20,000 housing units in Saudi

National Housing Co. (NHC) signed an agreement with China State Construction Engineering Corporation (CSCEC) to build 20,000 housing units in NHC's suburbs and communities Kingdom-wide.   Under this partnership, a total of 20,000 housing units of various areas will be constructed....

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Business & Money | Saturday 20 July, 2024 12:56 am

Saudi home ownership reaches 63.7% in 2023

Saudi home ownership rate reached 63.7% at the end of 2023, an increase of 16.7 percentage point from 2016, the 2023 Housing Program report showed.   The report cited several achievements of the program for 2023. More than 96,000 families benefited from housing support in 2023...

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Business & Money | Saturday 20 July, 2024 12:53 am

Germany's Lilium mulls to manufacture jets in Saudi Arabia: CEO

Lilium, the developer of the first all-electric vertical take-off and landing (eVTOL) jet, is exploring the possibility of manufacturing its jets in Saudi Arabia, Al Eqtisadiah newspaper reported, citing CEO Klaus Roewe.   Lilium is currently working on the development of a support...

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Business & Money | Friday 19 July, 2024 3:49 pm

KSA records SAR 605B real estate deals post brokerage law

The number of real estate transactions grew by nearly 17% to 3.5 million at a total value of more than SAR 605 billion within a year from implementing the Real Estate Brokerage Law, said Abdullah Al-Hammad, CEO of the Real Estate General Authority (REGA).   During his opening speech...

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Government | Friday 19 July, 2024 3:45 pm

Minerals Program identifies local needs, supports foreign investment: Almudaifer

The National Minerals Program seeks to enhance the continuity of supply chains amid the execution of major projects and to identify local mineral needs, Al Eqtisadiah newspaper reported, citing Khalid Almudaifer, Vice Minister of Industry and Mineral Resources. He added that the program...

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