Business & Money | Thursday 28 November, 2024 4:44 pm

RIBA strengthens Gulf presence and partnerships

As part of its work to promote architectural excellence and grow its global membership, the Royal Institute of British Architects (RIBA) has been taking steps to strengthen its presence and strategic partnerships in the Gulf. This work coincides with the 15th anniversary of the RIBA Gulf...

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Beauty & Style | Wednesday 25 December, 2024 3:13 pm

Explore the Outdoors and embrace the style with SHEIN this season

SHEIN, the global online retailer of fashion, beauty, and lifestyle products has announced its first-ever winter camping event in the Middle East, set to take place on December 5, 2024, against the stunning desert backdrop just outside Riyadh, offering outdoor enthusiasts and fans of the brand an...

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Business & Money | Wednesday 25 December, 2024 10:28 am

Moody's, Fitch assign Aramco's commercial paper program short-term ratings

Credit rating agencies Moody's and Fitch assigned short-term ratings to Saudi Aramco's $10 billion commercial paper program. Moody's assigned a Prime-1 short-term rating to Aramco, along with the same rating for the company’s commercial paper program. It also reaffirmed Aramco's long-term...

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Business & Money | Wednesday 25 December, 2024 9:23 am

KHC acquires stake in xAI for SAR 1.5B

Kingdom Holding Co. (KHC) acquired a stake in xAI CORP. (xAI) for SAR 1.5 billion ($400 million), as part of xAI’s Series C funding round, according to a statement to Tadawul. This followed KHC's previous investment at the same value in xAI during its Series B funding round. The financing...

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Business & Money | Wednesday 25 December, 2024 9:22 am

SPIMACO obtains SAR 220M credit facilities from Alinma Bank

Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) inked a Shariah-compliant credit facility agreement with Alinma Bank for SAR 220 million, according to a statement to Tadawul. The agreement includes a short-term, one-year facility at SAR 20 million, and...

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Business & Money | Wednesday 25 December, 2024 9:19 am

Mubadala acquires majority stakes in Global Medical Supply Chain, Al Ittihad Drug

Mubadala Investment Company has acquired an 80% stake in Global Medical Supply Chain (GMSC) and Al Ittihad Drug Store (IDS) from GlobalOne Healthcare Holding (GHH), with GHH retaining a 20% stake. This strategic acquisition enhances Mubadala's footprint in the healthcare logistics and...

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Business & Money | Wednesday 25 December, 2024 9:17 am

‘National Food Safety Committee’ discusses ways to strengthen food control systems

The National Food Safety Committee discussed, during its second meeting in 2024, ways to develop food control systems and the progress of implementing the 2024-2026 action plan in collaboration with various regulatory bodies and local authorities across the UAE. Chaired by Mohammed Saeed Al...

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Business & Money | Wednesday 25 December, 2024 9:15 am

MAJRA urges private sector firms to obtain Verified Impact Project Stamp

The National CSR Fund – MAJRA has called on private sector companies to secure their Verified Impact Project Stamp to enhance trust and credibility. This initiative aims to validate corporate social responsibility (CSR) projects undertaken by companies and showcase their commitment to...

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Business & Money | Wednesday 25 December, 2024 9:12 am

SEDD organises ‘Family Businesses’ introductory workshop

Sharjah Economic Development Department (SEDD) organised a virtual introductory workshop about “Family Businesses” licences that are issued in the emirate of Sharjah. This workshop focuses on educating family businesses about the procedures and requirements necessary to register their...

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Business & Money | Wednesday 25 December, 2024 9:09 am

Ministry of Economy details new pricing policy for 9 categories of essential consumer goods

The Ministry of Economy held a press briefing to outline the specifics of the new pricing policy that was previously introduced to monitor the pricing of essential consumer goods. The policy includes three ministerial decrees aimed at regulating the new pricing framework, enhancing the...

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Business & Money | Wednesday 25 December, 2024 9:07 am

Sanad launches 5th production line for 'LEAP-1A' engines

Sanad, the global aerospace engineering and leasing solutions leader, has announced the expansion of its maintenance, repair and overhaul (MRO) capabilities to include the CFM LEAP-1A engine. This expansion bolsters Sanad's position as the leading engine MRO player in the Middle East and North ...

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