Business & Money | Monday 16 September, 2024 10:08 am

UAE Central Bank announces M-Bills auction today

The Central Bank of the UAE (CBUAE) announced an auction of Monetary Bills (M-Bills) today. The auction includes four issues of M-Bills Treasury bonds. According to CBUAE data, the first issue for 28 days will be up to AED1,500 million, the second for 84 days will be up to AED3,500 million,...

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Business & Money | Monday 16 September, 2024 10:06 am

Insiders' trading ban starts September 16 on ADX

Abu Dhabi Securities Exchange (ADX) has announced that insiders’ trading prohibition period will start today, 16th September 2024, pending the full disclosure of the third quarter 2024 financial statements. ADX stated that the decision has been taken in accordance with the Article No. (14)...

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Business & Money | Monday 16 September, 2024 10:04 am

UAE to host ‘The Africa Debate’ on October 31 to boost trade, investment

The UAE will host the latest edition of ‘The Africa Debate,’ which will be organised by the Ministry of Economy in collaboration with Invest Africa, a business network promoting trade and investment in the African continent. The event will take place on October 31, 2024, in Dubai,...

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Business & Money | Monday 16 September, 2024 9:08 am

Saudi imports from GCC hit SAR 17.6B in Q2 2024

Saudi Arabia’s imports from GCC countries rose 0.1% year-on-year (YoY) to SAR 17.6 billion in Q2 2024, according to a recent report by the General Authority for Statistics (GASTAT).The UAE accounted for 67%, or SAR 11.8 billion of the total Saudi imports, up 9% YoY. The...

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Business & Money | Monday 16 September, 2024 9:07 am

UAE’s ARMS Group Partners with Australian Firm to Import Hydrogen and Electric Trucks

UAE-born ARMS Group today announced signing a strategic agreement with Australian clean energy company Pure Hydrogen Corporation Limited (ASX: PH2 or ‘Pure Hydrogen’). The partnership will set up distribution and sale of Taurus Prime Mover, Hydrogen Fuel Cell (HFC) Garbage Trucks and Box Trucks ...

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Government | Monday 16 September, 2024 8:54 am

HRSD Ministry announces National Day holiday for private sector

The private and non-profit sectors will observe Saudi Arabia’s National Day holiday on Monday, Sept. 23, the Ministry of Human Resources and Social Development (HRSD), said.  The holiday comes in accordance with Article 24 of the Labor Law’s executive regulations, said the Ministry,...

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Business & Money | Monday 16 September, 2024 8:51 am

SMEs account for 90% of Saudi industrial sector: Minister

The industrial base in most countries consists of small and medium enterprises (SMEs), Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said during an interview at Monshaat Support Council in Riyadh. He added that SMEs dominate 90% of the industrial sector in Saudi...

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Business & Money | Monday 16 September, 2024 8:51 am

Naseej Tech awarded SAR 13.8M contract with NELC

Naseej for Technology Co. (Naseej Tech) was awarded a SAR 13.8 million contract, including value-added tax (VAT), with National eLearning Center (NELC). According to a statement to Tadawul, the documents were completed on Sept. 15, 2024. The project aims to build short university programs ...

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Environment & Energy | Monday 16 September, 2024 8:46 am

Maaden signs SPSA to take over Maaden Bauxite, Maaden Aluminium

Saudi Arabian Mining Co. (Maaden) signed today, Sept. 15, a share purchase and subscription agreement (SPSA) with Alcoa Corporation (guarantor), AWA Saudi Limited (first seller) and Alcoa Saudi Smelting Inversiones S.L. (second seller), according to a Tadawul filing. Under the deal, Maaden...

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Business & Money | Monday 16 September, 2024 8:45 am

Ministry of Industry aims to cut new project costs in Saudi Arabia

Bandar Alkhorayef, Minister of Industry and Mineral Resources, said that opening a factory in Saudi Arabia is now easier than opening a restaurant, thanks to the facilitated procedures.   In his speech today at the SME's Support Center, Alkhorayef explained that the...

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