Business & Money | Saturday 28 October, 2023 1:58 am

PIF unveils initiatives to support asset management industry

The Public Investment Fund (PIF) announced two initiatives to support the development of Saudi Arabia’s asset management industry. The announcements, made at PIF’s inaugural Asset Management Forum, included the PIF Managers Gate Platform and the Portfolio Management Development Program.,...

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Business & Money | Friday 27 October, 2023 1:33 am

UAEFTS processed AED10.997 trillion in transactions in 8 months

The total value of fund transfers between the UAE's banks amounted to AED10.997 trillion in the first eight months of the year, up 35.6 % from the same period last year, according to statistics released by the Central Bank of the United Arab Emirates.The transactions are made through the UAE Fund...

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Business & Money | Friday 27 October, 2023 1:25 am

ACWA Power to sign $246 mln financing for Azerbaijan wind project today

ACWA Power expects to sign 20-year, $246 million financing agreements for the wind project in Azerbaijan, which will add 240 megawatts (MW) of energy capacity.    The total investment cost stands at $347 million, of which 71% is non-recourse to the shareholders,...

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Business & Money | Friday 27 October, 2023 12:12 am

NEOM Green Hydrogen Company leadership transition

NEOM Green Hydrogen Company (NGHC) Chairman, Nadhmi Al-Nasr, announced today that following the successful financial close on the world’s largest green hydrogen plant, David Edmondson, CEO of NGHC, will return to Air Products and be succeeded by Wesam Y. Alghamdi. In this planned leadership...

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Business & Money | Thursday 26 October, 2023 1:20 pm

PIF, Pirelli announce JV to set up tire manufacturing facility

The Public Investment Fund (PIF) and Pirelli Tyre S.P.A (Pirelli), a leading global tire manufacturer, announced today, Oct. 26, the signing of a joint venture (JV) agreement to build a tire manufacturing facility in Saudi Arabia.   PIF will hold a 75% stake in the new JV with...

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Business & Money | Thursday 26 October, 2023 1:13 pm

Ahmed bin Saud Al Qasimi inaugurates Ni Met Recycling, marking a milestone in the Emirate’s vision for a circular economy

Sheikh Ahmed bin Saud Al Qasimi, Chairman of Ras Al Khaimah's Public Services Department, inaugurated the state-of-the-art stainless-steel and non-ferrous scrap recycling facility Ni Met Recycling.   Present at the ceremony were Anil Shah, Chairman and Managing Director of Ni Met...

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Business & Money | Thursday 26 October, 2023 11:19 am

Automechanika Dubai 2023 sees 21% year-on-year growth in trade visitors as the event sets new record

Automechanika Dubai, the largest international trade exhibition for the automotive aftermarket industry in the Middle East, has welcomed 52,082 trade visitors during the three-day showcase, which concluded earlier this month. The figure represents a year-on-year increase of 21% in trade...

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Business & Money | Thursday 26 October, 2023 9:34 am

ROYAL COMMISSION FOR ALULA AND SAUDI TELECOM COMPANY SOLIDIFY 15-YEAR PLAN TO IMPROVE TELECOMS IN ALULA COUNTY

The Royal Commission for AlUla (RCU) has cemented its alliance with Saudi Telecom Company (STC), affirming a 15-year collaboration announced at the seventh annual Future Investment Initiative in Riyadh. This partnership showcases the joint vision of RCU and STC to drive AlUla’s digital...

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Business & Money | Thursday 26 October, 2023 9:30 am

THE ROYAL COMMISSION FOR ALULA ANNOUNCES NEW MULTI-MILLION SAR STRATEGIC SECURITY INTEGRATION PROJECT WITH THALES

AlUla’s world-renowned collection of ancient artefacts, important cultural landmarks, and heritage assets will be protected around the clock using the latest digital technology and surveillance equipment as part of a new security agreement between Thales and the Royal Commission for AlUla...

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Business & Money | Thursday 26 October, 2023 9:16 am

Diriyah Gate Development Authority launches “Traditional Architecture Gathering” in the historic

In celebration of Najdi architecture, a treasured source of pride, and as a testament to the preservation of heritage and traditional architecture in the modern era, the Diriyah Gate Development Authority (DGDA) is set to organize the “Traditional Architecture Gathering” at the historic...

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