Business & Money | Friday 28 July, 2023 5:37 am

AD Ports Group and Shandong Ports Group extend Cooperation to attract Chinese Automotive Companies

AD Ports Group (ADX: ADPORTS), the leading facilitator of global trade, logistics, and industry, has announced that it has signed multiple collaboration agreements with Shandong Port Group (SPG), a conglomerate based in Shandong Province, China, which provides port operations, port infrastructure...

More Details

Business & Money | Friday 28 July, 2023 5:35 am

Bodour Al Qasimi, BEEAH to boost collaboration on sustainability

The President of American University of Sharjah (AUS) and the Chairperson of Sharjah Research, Technology and Innovation Park (SRTIP) was warmly received by the Group CEO of BEEAH, Khaled Al Huraimel, and a distinguished BEEAH delegation. Sheikha Bodour's visit to BEEAH Group's headquarters...

More Details

Business & Money | Friday 28 July, 2023 5:28 am

Real estate in Ajman valued at AED4.6 billion in H1 2023

According to the Department of Lands and Real Estate Regulation in Ajman, 786 properties in the emirate were valued at AED4.6 billion in the first half of 2023. Eng. Omar bin Omair Al Muhairi, Director-General of the Department, said that the properties included commercial, residential,...

More Details

Business & Money | Friday 28 July, 2023 5:05 am

BHM Capital and Riyad Capital Announce Strategic Market Making Partnership in the GCC Region

BHM Capital, a leading financial institution in the UAE’s capital markets, and Riyad Capital, a prominent financial institution in Saudi Arabia, are pleased to announce their partnership in the field of Market Making. This strategic collaboration aims to leverage the expertise of both entities to ...

More Details

Business & Money | Thursday 27 July, 2023 10:16 am

Azizi Developments partners with German-based Maschinenbau Halberstadt GmbH for Amber and Beachfront

Azizi Developments, a leading private developer in the UAE, has partnered with Maschinenbau Halberstadt GmbH, a renowned German-based, international supplier that manufactures and assembles high-quality, reliable, and environmentally friendly power generating sets, to source top-tier diesel...

More Details

Business & Money | Thursday 27 July, 2023 9:44 am

NMDC Group doubles first half net profit to AED 881mn

National Marine Dredging Group (ADX: NMDC) has announced a significant surge in its net profit during the first half of 2023, reaching AED 881 million. This remarkable achievement reflects the success of the Group’s geographic expansion strategy and the successful execution of major...

More Details

Business & Money | Thursday 27 July, 2023 9:42 am

CBUAE raises base rate by 25 basis points

The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points – from 5.15 to 5.40 percent, effective from Thursday, 27th July, 2023.This decision was taken following the US Federal Reserve Board’s announcement on...

More Details

Business & Money | Thursday 27 July, 2023 9:23 am

Saudi Central Bank Makes Decisions on Repo and Reverse Repo Rates

The Saudi Central Bank (SAMA) decided to raise the rate of Repurchase Agreement (Repo) by 25 basis points to 6.00 percent, and the rate of Reverse Repurchase Agreement (Reverse Repo) by 25 basis points to 5.50 percent. These decisions are in line with SAMA’s mandate of preserving monetary...

More Details

Business & Money | Thursday 27 July, 2023 8:37 am

Fed hikes interest rate to highest since 2001

The Federal Reserve raised interest rates by 25 basis points (bps), as widely expected, to the highest level in 22 years.   The Federal Reserve lifted its key interest rate at the range of 5.25% and 5.50%, the Federal Open Market Committee (FOMC) said in its policy...

More Details

Business & Money | Thursday 27 July, 2023 4:04 am

Uber study reveals insights from female drivers in Saudi Arabia with financial independence

Following a survey shared by Uber among female drivers in Saudi Arabia and Egypt, data found sees an optimistic outcome of female empowerment in the Kingdom, with more than 76% of the participants citing financial independence as the reason they drive using Uber. More than 56% of the participants...

More Details