Government | Saturday 27 July, 2024 6:40 am

UAE takes part in third G20 FMCBG meeting held in Brazil

The UAE, represented by the Ministry of Finance (MoF) and the Central Bank of the UAE (CBUAE), participated in the third meeting of Finance Ministers and Central Bank Governors of the G20 (G20 FMCBG), which took place on 25-26 July under Brazil's presidency for the year 2024. The event was...

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Business & Money | Saturday 27 July, 2024 6:37 am

Bank of Sharjah achieves net profit of AED 171 million in H1 2024

Bank of Sharjah announces its results for the period ended 30th June 2024, demonstrating a robust performance, continuing the strong momentum from the start of the year. The Bank’s net profit increased to AED 171 million from a loss of AED 144 million for the same period last year, driven by ...

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Technology & IT | Saturday 27 July, 2024 6:35 am

RAKEZ event guides SMEs on harnessing AI for marketing and sales success

Ras Al Khaimah Economic Zone (RAKEZ) hosted an exclusive session for its clients, dedicated to exploring the practical applications of Artificial Intelligence (AI) in sales and marketing. The event aimed to demystify AI, presenting it as a practical tool that businesses, especially SMEs, can...

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Business & Money | Saturday 27 July, 2024 6:31 am

Dr Thani Al Zeyoudi joins BRICS trade ministers to call for greater cooperation

During the 14th BRICS Trade Ministers Meeting, attended by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, the UAE renewed the call for enhanced trade cooperation among member nations and firm opposition to stimulate the flow goods and services around the world. It is the...

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Business & Money | Saturday 27 July, 2024 6:29 am

China's Baosteel doubles investment in steel plates in Saudi Arabia to $1B

China's biggest listed steelmaker, Baoshan Iron and Steel Co. (Baosteel) has doubled its investment in the steel plate manufacturing complex in Saudi Arabia to reach $1 billion.  According to Bloomberg, the company announced that it will own a 50% stake in the joint venture. Saudi...

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Business & Money | Saturday 27 July, 2024 6:26 am

SABIC to disclose Q2 2024 earnings in press conference on Aug. 1

Saudi Basic Industries Corp. (SABIC) will hold a press conference on Aug. 1 to discuss the company’s Q2 2024 performance and financial results.   According to consensus estimates, SABIC is forecast to record a net profit of SAR 759.61 million in Q2 2024, compared to SAR 1.2 billion ...

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Business & Money | Saturday 27 July, 2024 6:20 am

Riyadh Development says asset valuation for Dirah district development stands at SAR 1.5B

Riyadh Development Co. said that the average asset valuation exercise for the proposed partnership with Riyadh Holding Co. to develop Dirah district amounts to SAR 1.5 billion (fair value based on latest valuation).   The new entity’s portfolio comprises commercial centers on a...

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Government | Saturday 27 July, 2024 6:18 am

TGA says Kingdom’s trains transport 9.3M passengers, 6.9M tons of goods in Q2 2024

The Transport General Authority (TGA) announced record numbers for the Kingdom's trains, as passengers surpassed 9.3 million during the second quarter of 2024, with a growth rate of 13%.  In a statement, TGA clarified that the Kingdom's trains transported 2.42 million passengers between...

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Business & Money | Saturday 27 July, 2024 6:16 am

SAMA Governor: International trade restrictions threaten global economy in medium term

Ayman Al-Sayari, Governor of the Saudi Central Bank (SAMA), said the key risks facing the global economy in the medium term include rising geopolitical conflicts, growing concerns about economic fragmentation among world economies, and the implications of increasing restrictions on international...

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Business & Money | Saturday 27 July, 2024 6:03 am

flynas signs agreement to buy 160 Airbus aircraft

Saudi Arabia’s leading low-cost carrier flynassigned an agreement with Airbus to buy 160 new aircraft, increasing its total orders to 280 over seven years, which marks one of the largest aircraft orders in the region.   According to the agreement, flynas confirmed that the 160...

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