Business & Money | Tuesday 25 August, 2020 8:10 am

GAMI Signs MoU with TVTC to Support Human Capabilities in Military Industries Sector

The General Authority for Military Industries (GAMI) has signed a memorandum of understanding (MoU) with the Technical and Vocational Training Corporation (TVTC).The MoU aims to support human capabilities in military industries sector and to contribute to advancing the development of the sector...

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Business & Money | Monday 24 August, 2020 5:20 pm

MHPS Receives Order for Three M701JACs Advanced Air-cooled Turbines for a United Arab Emirates project

Mitsubishi Hitachi Power Systems, Ltd. (MHPS), a part of Mitsubishi Heavy Industries (MHI) Group, has received an order for three M701 JAC gas turbine generators to be used in a 2,400 megawatt (MW) combined cycle (GTCC) plant to be built in the Emirate of Fujairah in the United Arab Emirates (UAE). ...

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Business & Money | Monday 24 August, 2020 5:12 pm

Adnoc Distribution Completes First Dedicated Development Program For Uae National Service Station Leaders

ADNOC Distribution has trained 254 UAE national employees to take on leadership roles across its network of service stations. ‘Tomooh’ – meaning ambition in Arabic – is a customized frontline leadership program developed in collaboration with the Higher Colleges of Technology (HCT)....

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Business & Money | Monday 24 August, 2020 4:59 pm

Minister of Environment, Water and Agriculture announces formation of National Grain Company, a partnership between SALIC and Bahri

H.E. Eng. Abdulrahman Al-Fadhli, Minister of Environment, Water and Agriculture sponsored the inauguration ceremony of National Grain Company, a strategic partnership between the Saudi Agricultural and Livestock Investment Company (SALIC) and the National Shipping Company of Saudi Arabia...

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Business & Money | Monday 24 August, 2020 9:35 am

Government entities required to disclose their properties abroad

The highest authorities in the Kingdom have instructed the government departments and agencies that have properties outside the Kingdom to submit documents related to them to the State Properties General Authority.The properties include both owned and leased ones irrespective of whether they are...

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Business & Money | Monday 24 August, 2020 9:07 am

ENBD REIT hedges AED 400m facility with Mashreq Bank

ENBD REIT (CEIC) PLC (“ENBD REIT” or the “Fund”), the Shari’a-compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has executed a Shari’a-compliant profit rate swap with Mashreq Bank, on its AED 400 million facility, which will hedge 56% of...

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Business & Money | Monday 24 August, 2020 1:54 am

SAMI names Eng. Walid Abukhaled as CEO

The Board of Directors of Saudi Arabian Military Industries (SAMI) has appointed Eng. Walid Abukhaled as CEO of the company. The decision comes following his role as Acting chief executive officer and is based on his proven ability and competence to manage the company’s business effectively...

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Business & Money | Sunday 23 August, 2020 10:27 am

Covid-19 response: Dubai Customs ensures supply chain continuity during pandemic

Dubai Customs has played a pivotal role in ensuring the continuity of global and local supply chains amid the Covid-19 pandemic. Customs inspection and clearance operations at sea, air and land entry-points have been running around the clock to ensure smooth flow of cross-border trade as well as...

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Business & Money | Sunday 23 August, 2020 6:16 am

SASO, UL Discuss Strengthening Cooperation

The Saudi Standards, Metrology and Quality Organization (SASO) discussed, in a virtual meeting, the means of strengthening cooperation with the Underwriters Laboratories (UL), as a continuation of cooperation between the two sides and in order to activate the memorandum of understanding signed...

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Business & Money | Sunday 23 August, 2020 3:24 am

Saudi Arabia finance ministry announces closure of August issuance of sukuk program

Saudi Arabia’s finance ministry announced on Saturday the closure of the August 2020 issuance of the government’s sukuk progam. The first tranche of the sukuk, or Islamic bonds, has a size of 100 million riyals ($26.6 million) and a total tranche size of 6.125 billion riyals, maturing in...

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