Business & Money | Tuesday 2 July, 2024 8:42 am

PIF makes SAR 64B profit in 2023

The Public Investment Fund (PIF) generated SAR 64.4 billion profit, against losses of SAR 14.7 billion a year earlier, backed by a 101% year-on-year (YoY) surge in revenues. Topline increased on income from investment activities, which reached SAR 93.8 billion, as Softbank swung to profits after...

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Business & Money | Monday 1 July, 2024 11:32 am

FAMCO Qatar Signs Major Agreement To Supply 25 Volvo Heavy-Duty FMX460 4x2 Trucks to Al Nasr Holding

Doha, Qatar – Al-Futtaim Auto and Machinery Company (FAMCO) Qatar is pleased to announce the successful sale of a large fleet of VOLVO FMX460 4x2 Heavy-Duty Tractor Head trucks to Al Nasr Holding (Venture Gulf Engineering), a leading business conglomerate in Qatar. The sale was finalized on May...

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Business & Money | Monday 1 July, 2024 10:15 am

Clemta: All-in-One Platform for Entrepreneurs Expanding into the US and Global Market

Against a backdrop of 5.5 million new businesses created in the US in 2023, leading company formation and financial management platform Clemta continues its global expansion via technical infrastructure development and adding Arabic language support. The Certified Acceptance Agent recognized by the ...

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Business & Money | Monday 1 July, 2024 9:23 am

DEWA’s accommodation complex in Warsan receives LEED Platinum Rating

Dubai Electricity and Water Authority (DEWA)’s Accommodation Complex in Warsan has received the Platinum Rating in the LEED (Leadership in Energy and Environmental Design) awarded by the US Green Building Council (USGBC). This makes it the first multifamily project in the world to receive...

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Business & Money | Monday 1 July, 2024 9:16 am

Ajman’s GDP rises to AED36 billion in 2023 : Statistics Centre

Preliminary estimates of Ajman's Gross Domestic Product (GDP) for the year 2023, issued by the Ajman Statistics Centre, reveal the emirate's robust economic performance and positive growth rates. The emirate achieved a GDP at current prices exceeding AED36 billion, compared to AED33.9 billion...

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Business & Money | Monday 1 July, 2024 9:12 am

RTA awards AED431m project to develop entry/exit points for Dubai Harbour

The Roads and Transport Authority (RTA) has awarded a AED431 million project to construct direct entry/exit points for Dubai Harbour, in partnership with Shamal Holding. The project encompasses the construction of a two-lane bridge in each direction spanning 1500 metres extending from the...

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Business & Money | Monday 1 July, 2024 9:07 am

Maktoum bin Mohammed chairs Executive Council meeting, announces AED25 billion in new investment incentives

The Executive Council of Dubai has approved a series of new initiatives and programmes designed to support its ambitious economic agenda and make it one of the world’s top three urban economies by 2033. Chairing the Council’s meeting, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, ...

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Business & Money | Monday 1 July, 2024 8:53 am

adwa REIT Saudi sells Dammam tower for SAR 190M

adwa Investment Co., the fund manager of Jadwa REIT Saudi Fund, signed today, June 30, an agreement to sell Al Yaum Tower, which is located on King Fahad Road in Dammam, for SAR 190 million (excluding real estate transaction tax), the company said in a statement to Tadawul. This came after...

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Business & Money | Sunday 30 June, 2024 9:43 am

Neft Alsharq inks SAR 18M contract with Ministry of Interior

Neft Alsharq Co. for Chemical Industries signed on June 9 with one of the Ministry of Interior affiliated departments, a three-year contract worth more than SAR 18 million, for the supply oils and greases, the company said in a statement to Tadawul. The supply award notification was received,...

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Business & Money | Sunday 30 June, 2024 9:31 am

Dallah Healthcare signs SAR 690M contract for Al-Arid Hospital construction

Dallah Healthcare Co. signed on June 27 a contract for construction, electromechanical and finishing works of Al-Arid Hospital with Youssef Marroun Contracting Co. at a total value of SAR 690 million. The contract, which is valid for 24 months, was inked after the completion of the excavation...

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