Business & Money | Sunday 1 October, 2023 10:00 am

Saudi economy seen to grow 0.03% in 2023

The Ministry of Finance expected to maintain positive economic growth rates this year and in the medium term, backed by structural reforms and sector strategies in line with Vision 2030.   In its Pre-Budget Statement 2024, the ministry expected real gross domestic product (GDP) to...

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Business & Money | Sunday 1 October, 2023 10:00 am

Red Sea International, Al Rajhi sign SAR 330 mln agreement to finance acquisition

Red Sea International Co. signed on Sept. 28 a financing facility agreement contract worth SAR 330 million with Al Rajhi Bank. The agreement aims to finance the acquisition of a 51% stake in Fundamental Installation for Electric Work Co. Ltd. (First Fix), the company said in a statement to...

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Government | Saturday 30 September, 2023 3:13 am

In his capacity as Ruler of Abu Dhabi, Mohamed bin Zayed issues law establishing Department of Government Enablement – Abu Dhabi

In his capacity as Ruler of Abu Dhabi, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, has issued a law establishing the Department of Government Enablement – Abu Dhabi.The objectives of the department are to provide Abu Dhabi Government entities services that enhance human ...

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Environment & Energy | Saturday 30 September, 2023 3:10 am

Mariam Almheiri calls upon GCC’s ministers of agriculture to sign Emirates Declaration on Food Systems

Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, called on the Gulf Cooperation Council (GCC) ministers of agriculture to sign the Emirates Declaration on Resilient Food Systems, Sustainable Agriculture, and Climate Action, and support UAE's efforts in strengthening...

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Business & Money | Saturday 30 September, 2023 3:07 am

UAE's EDGE acquires 50 percent stake in Brazil's SIATT

The UAE’s EDGE Group, one of the world’s leading advanced technology and defence groups, has announced the acquisition of a 50 percent stake in Brazilian smart weapons and high-tech systems specialist, SIATT. The acquisition deal was officially signed at SIATT's headquarters in the city of ...

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Environment & Energy | Saturday 30 September, 2023 3:04 am

ADAFSA to develop integrated strategy to reduce food loss & waste

The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) is intensifying its efforts to develop an integrated strategy to reduce food loss and waste (FLW), and improve the efficiency of the production chain, as part of its commitment to its central role in agricultural and food sustainability...

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Business & Money | Saturday 30 September, 2023 12:58 am

CMA OKs View Real Estate 18.2% IPO on Nomu

The Capital Market Authority (CMA) approved on Sept. 28 registering and offering 600,000 shares, or 18.18% of View Limited Real Estate Development Co.’s capital on Nomu-Parallel Market, according to a CMA statement.   The IPO will be confined to qualified investors and the...

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Government | Saturday 30 September, 2023 12:49 am

Saudi Arabia seeks to become global player in EV industry: Alkhorayef

Saudi Arabia seeks to become a global player in manufacturing electric vehicles (EV) and the related products, such as electric batteries, SPA quoted Minister of Industry and Mineral Resources, Bandar Alkhorayef, as saying at the opening ceremony of Lucid Group’s factory.   The...

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Business & Money | Saturday 30 September, 2023 12:48 am

Italian Riviera-Inspired Dh250 Million ‘Samana Portofino’ Project Launched in Dubai Production City

Samana Developers, one of the fastest growing real estate companies according to Dubai Land Department data of Dubai developers, today launched a Dh250 million ‘Samana Portofino’ residential project in Dubai Production City, a popular freehold community alongside Sheikh Mohammed Bin Zayed...

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Business & Money | Saturday 30 September, 2023 12:22 am

NEOM and MB92 Group announces a yacht repair center at Sindalah

NEOM and leading superyacht maintenance company, MB92 Group, have announced a partnership to establish a 10,000 square-meter repair facility for yachts at NEOM’s luxury island and yachting destination on the Saudi water of the Red Sea, Sindalah.   The partnership aligns with the...

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