Business & Money | Saturday 18 May, 2024 6:17 am

Deloitte Middle East and UAE Internal Auditors Association sign MOU at The Audit Summit in Abu Dhabi

On the back of its participation as the Knowledge Partner of The Audit Summit that was held in Abu Dhabi 15 and 16 May, Deloitte Middle East announced today its Memorandum of Understanding (MOU) with the Internal Audit Association in the United Arab Emirates (UAE IAA), to underline the shared...

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Business & Money | Saturday 18 May, 2024 6:09 am

RAKEZ launches Growth Series 2024 edition to empower startups and SMEs

Ras Al Khaimah Economic Zone (RAKEZ) successfully launched the 2024 edition of its acclaimed Growth Series, aimed at fostering the development of startups and SMEs within its vibrant business community. RAKEZ Group CEO Ramy Jallad said, “Our Growth Series is designed to enrich our growing...

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Business & Money | Saturday 18 May, 2024 5:57 am

RAKEZ and RAKBANK extend their partnership for seamless SME banking

Ras Al Khaimah Economic Zone (RAKEZ) recently teamed up with RAKBANK to enhance the banking services available to its clients. This strategic collaboration aims to speed up bank account openings and provide more reliable and secure banking solutions, supporting RAKEZ’s mission to bridge the gap...

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Business & Money | Thursday 16 May, 2024 1:51 pm

Metric Joins Forces with 500 Global to Fuel SME Growth across the GCC

 Metric, a global financial intelligence and analytics platform built for small and medium-sized businesses (SMBs), has been backed by the 500 Global program through the Sanabil 500 Mena Seed fund. This support underlines Metric's commitment to fostering the burgeoning SME sector in Saudi...

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Business & Money | Thursday 16 May, 2024 8:00 am

Tibbiyah’s unit wins 2 purchase orders with NUPCO worth SAR23.8M

Arabian International Healthcare Holding Co. (Tibbiyah) awarded on May 14, two purchase orders, in favor of Al Faisaliah Medical Systems Co. (FMS), a wholly owned subsidiary by the National Unified Procurement Co. (NUPCO), at a value of SAR 23.8 million. Tibbiyah explained in a statement on Tadawul ...

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Business & Money | Thursday 16 May, 2024 7:32 am

ADES CEO says rig additions boost profit growth, 75% of revenue from Aramco

ADES Holding Co.'s Q1 2024 profit growth was driven by an increase in revenues, coupled with the company's proactive step of hedging for about 60% of its loans, which helped slash costs to about 4%, according to CEO Mohamed Farouk. Speaking with Al Arabiya TV, the top executive said...

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Business & Money | Thursday 16 May, 2024 7:26 am

NEOM workers reach 140,000, to hit 200,000 in 2025: CEO

There are about 140,000 construction workers currently working around the clock in the NEOM project, said CEO Nadhmi Al-Nasr. In his speech at the Saudi-British Great Future Initiative Conference in Riyadh, Al-Nasr expected that the number of project workers will rise to 200,000 next...

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Business & Money | Thursday 16 May, 2024 7:16 am

Sulaiman Al Habib approves transferring SAR 1.05B to retained earnings

Shareholders of Dr. Sulaiman Al Habib Medical Services Group (HMG) approved, during the meeting held on May 14, the board’s proposal to transfer the company’s statutory reserve of SAR 1.05 billion as in financial statements for Dec. 31, 2023, to the retained earnings, according to a statement...

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Business & Money | Thursday 16 May, 2024 7:12 am

Steel Pipe wins SAR 138.6M contract with Aramco

Saudi Steel Pipe Co. (SSP) was awarded a contract to supply oil and gas steel pipes to Saudi Aramco, with an estimated value of SAR 138.6 million. The contract is valid for 12 months, the pipe manufacturer said in a statement to Tadawul, noting that there are no related parties to the...

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Business & Money | Thursday 16 May, 2024 7:09 am

Balady Poultry inks SAR 81M deal for processing equipment supply

Balady Poultry Trading Co. signed, on May 13, a contract with BAADER Food Systems Denmark Co. for the supply of processing equipment for the poultry meat factory at a total value of SAR 81 million. In a statement to Tadawul, the company said that the contract’s term is 24 months, noting that ...

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