Business & Money | Monday 31 July, 2023 9:08 am

stc Group Achieved Highest Semi-annual Revenues in its History Reaching to SAR 36.5 billion

stc today announced the company’s preliminary financial results for the period ending at 30 June 2023. The revenues for the first half of 2023 reached SAR 36,506m with an increase of 8.17% as compared to the comparable period last year.The Gross Profit for the first half of 2023 reached to SAR...

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Business & Money | Monday 31 July, 2023 9:00 am

SAMA ratifies Insurtech Rules

The Saudi Central Bank (SAMA) approved the Insurtech Rules, following the end of the deadline for public consultation on the draft rules through “Istitlaa” platform of the National Competitiveness Center (NCC).   In a statement, the central bank explained that this step came as...

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Business & Money | Monday 31 July, 2023 8:57 am

World FZO signs agreement with Adriatica Special Economic Zone to host AICE 2024 in Bari

The World Free Zones Organisation (World FZO) signed an agreement with the Adriatica Special Economic Zone, appointing Bari as the host city for the 10th edition of the Annual International Conference and Exhibition (AICE), taking place from 19th-21st June, 2024.The conference will run alongside...

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Business & Money | Monday 31 July, 2023 8:36 am

Mariam Almheiri underscores collective action and finance for promoting sustainable development

Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment highlighted the importance of collective action and collective finance to strengthen sustainable development and called upon G20 countries to fulfil their commitment to providing the pledged financial support for global...

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Business & Money | Monday 31 July, 2023 8:32 am

Saudi Azm bags SAR 18.5 mln project from Ministry of Industry

Saudi Azm for Communication and Information Technology Co. announced in a statement to Tadawul that it was awarded a SAR 18.5 million project by the Ministry of Industry and Mineral Resources. Saudi Azm received the letter of award for the Investor Journey Portal, a project aims to provide...

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Business & Money | Sunday 30 July, 2023 3:48 pm

Real estate sector contributes 12.8% of Saudi non-oil GDP in Q1 2023: REGA

The real estate sector's contribution to the Saudi non-oil GDP reached 12.8% in the first quarter of 2023, according to the Real Estate General Authority (REGA).   Spokesman of the REGA, Tayseer Al-Mufarrej, said that the Kingdom's real estate sector witnessed an exceptional period...

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Business & Money | Sunday 30 July, 2023 1:39 pm

Saudi Maritime Congress brings a global spotlight to the Kingdom's shipping and logistics sectors

With its economic diversification efforts, policy development, and foreign direct investment commitments over the next five years, the world's eyes are on the Kingdom of Saudi Arabia as it fast tracks to becoming a leading maritime hub. The 4th edition of the Saudi Maritime Congress will take place ...

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Business & Money | Sunday 30 July, 2023 12:55 pm

Social Development Bank Receives the Asian Banking & Finance Award 2023

The Social Development Bank (SDB) has been honored by Asian Banking & Finance (ABF) — the leading industry organization serving Asia's financial services sector — for its commitment to empowering small and micro-enterprises across the Kingdomof Saudi Arabia via Dulani Business Center, an...

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Business & Money | Sunday 30 July, 2023 9:18 am

MoF announces schedule of administrative penalties for corporate tax violations

The UAE Ministry of Finance (MoF) today announced the issuance of Cabinet Decision No. (75) of 2023 regarding administrative penalties for violations related to the Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (Corporate Tax Law). The Cabinet Decision specifies...

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Business & Money | Sunday 30 July, 2023 8:55 am

AED 142 million worth TIR carnet transactions cleared by Dubai Customs

Dubai Customs supports the International Road Transport (TIR Carnet) system, the global customs transit procedure that enables goods to move under customs control from a country of origin, through transit countries, to a country of destination in secure sealed load compartments via a multilateral,...

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