Business & Money | Friday 25 August, 2023 1:46 pm

Saudi Arabia, UAE accession to BRICS marks importance of GCC states: Official

The Secretary General of the Gulf Cooperation Council for Arab States, Jasem Mohamed Albudaiwi, said the accession of Saudi Arabia and the UAE to the Brazil, Russia, India, China, and South Africa (BRICS) Group, emphasizes the importance of the GCC economies.   The GCC countries are...

More Details

Business & Money | Friday 25 August, 2023 1:45 pm

Financial, realty blue chips continue to drive UAE stock markets

The UAE stock markets Thursday continued to capitalise on improved investor sentiments, with blue-chip industrial, banking and real estate stocks leading the gainers in the capital's bourse, with financials, industrials, and communication services driving the Dubai Financial Market, with both...

More Details

Business & Money | Friday 25 August, 2023 1:36 pm

Abu Dhabi Maritime launches Marina Awards to recognise excellence across MENAT region

Abu Dhabi Maritime, part of AD Ports Group, in collaboration with the Department of Municipalities and Transport (DMT), has announced that entries can now be submitted to the inaugural “Abu Dhabi Maritime Awards (Marinas Edition)”. This brand-new awards programme aims to recognise...

More Details

Business & Money | Friday 25 August, 2023 1:31 pm

UAE's inclusion into BRICS opens up significant development prospects: Minister of Economy

Abdullah bin Touq Al Marri, Minister of Economy, said that the UAE's inclusion into the BRICS opens up significant development prospects thanks to the presence of a number of the world's fastest growing economies, namely Brazil, Russia, India, China, and South Africa. “UAE's BRICS membership ...

More Details

Business & Money | Friday 25 August, 2023 1:27 pm

Borouge’s PP5 unit generates $209 million sales in H1 2023, driving sustainable growth

Dr. Hasan Karam, Borouge's Chief Operating Officer, has said that the fifth polypropylene unit (PP5) played a significant role in H1 2023, contributing $209 million (AED767 million) in polypropylene material sales, representing 22% of the Company's propylene sales and 10% of our overall...

More Details

Business & Money | Friday 25 August, 2023 1:26 pm

AED268.6 billion in saving deposits held by UAE banks until end of June 2023

Savings Deposits held by UAE banks, excluding interbank deposits, amounted to AED268.6 billion by the end of June 2023, according to the latest statistics from the Central Bank of the UAE. The apex bank's statistics showed these deposits increased by 5.8 percent on a monthly basis, or AED14.8...

More Details

Business & Money | Friday 25 August, 2023 12:13 am

Ministry of Industry unveils top 10 SIRI factories

Saudi Ministry of Industry and Mineral Resources announced the top 10 factories in the global Smart Industry Readiness Index (SIRI) until August 2023, within the Future Factories Program, the minister said on X messaging app (formerly Twitter).    City Cement Co. came...

More Details

Business & Money | Friday 25 August, 2023 12:06 am

Budget Saudi signs non-binding MoU to fully acquire AutoWorld subsidiary

United International Transportation Co. (Budget Saudi) signed today, Aug. 24 a non-binding memorandum of understanding (MoU) with the Saudi Economic and Development Holding Co. (SEDCO) to fully acquire its subsidiary, Al-Jazira Equipment Co. Ltd (AutoWorld), by issuing shares to the subsidiary...

More Details

Business & Money | Thursday 24 August, 2023 11:27 am

HKSTP CEO reveals plans to expand operations to cover UAE, Middle East

Albert Wong, CEO of Hong Kong Science and Technology Parks Corporation (HKSTP), has revealed the corporation's plans to expand its operations and attract more companies from the UAE and the Middle East to explore business opportunities in Hong Kong.Hong Kong is building a green tech and green...

More Details

Business & Money | Thursday 24 August, 2023 9:48 am

Jadwa REIT Saudi inks SAR 90 mln SPA for Al Khobar property

Jadwa REIT Saudi Fund signed on Aug. 23 a sale and purchase agreement (SPA) for Al Fanar Residential Compound, located in Al Rawabi district, Al Khobar, fund manager Jadwa Investment Co. said in a statement to Tadawul. The move followed approval from the fund’s board on the property sale...

More Details