Business & Money | Saturday 22 June, 2024 5:02 am

Details of amendments to Finance Companies Control Law

The Saudi Cabinet, chaired by King Salman, recently approved amendments to Finance Companies Control Law.  The official gazette Umm Al-Qura published on Friday details of the amendments, which include the necessity of obtaining the bank's approval on practicing any non-finance activities, ...

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Business & Money | Friday 21 June, 2024 6:20 am

European Commission green lights PIF’s acquisition of German autonomous car manufacturer

The European Commission announced its approval of the acquisition and joint control of the German autonomous electric vehicle company Holon by the Public Investment Fund (PIF) and Austrian company Benteler.   The Commission said in a statement that, under European Union merger law,...

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Business & Money | Friday 21 June, 2024 6:13 am

UBS CEO warns Switzerland may lose world’s wealth hub status

UBS CEO Sergio Ermotti warned that Switzerland could lose its position as the world's wealth management center if policymakers overreact to the collapse of Credit Suisse. Ermotti, who was chosen once again as head of Switzerland's largest bank a few days after his former rival was rescued last ...

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Business & Money | Friday 21 June, 2024 6:12 am

Al Mashaaer Train serves 2.2M passengers during Hajj season: SAR

Saudi Arabia Railways (SAR) announced the success of the operational plan for Al Mashaaer Al Mugaddassah Train in the Hajj season of 1445 AH, completing the transport of more than 2.2 million passengers between Arafat, Muzdalifah and Mina stations by facilitating 2,206 trips. The train...

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Business & Money | Friday 21 June, 2024 5:57 am

UAE Ministry of Finance Launches New Transformational Projects

The UAE Ministry of Finance today announced the implementation of transformational projects that support the country’s efforts to transition towards the future and enhance its competitiveness, in line with the ‘We the UAE 2031’ vision and the UAE’s efforts to become the global hub for the...

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Business & Money | Friday 21 June, 2024 5:54 am

RAKEZ continues to fuel its SME community with insightful sessions on success strategies

Ras Al Khaimah Economic Zone (RAKEZ) has hosted the second session in its Growth Series 2024 edition, focusing on empowering entrepreneurs to kickstart their businesses with speed and efficiency. The event, titled ‘How to Start Up Fast and Succeed’, attracted a diverse group of budding...

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Business & Money | Friday 21 June, 2024 5:50 am

Emirates Publishers Association Showcases Emirati-Chinese Cultural Exchange at Beijing International Book Fair

In a bid to support Emirati publishers in exploring the trends of the Chinese publishing market and understanding the aspirations of readers in this ancient country, the Emirates Publishers Association (EPA) is participating in the Beijing International Book Fair 2024. This prestigious event, one...

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Business & Money | Thursday 20 June, 2024 3:59 pm

Airtel Africa embarks on digital customer value management of 150 million subscribers with WebEngage

Airtel Africa, a leading telco group with more than 150 million subscribers across 14 African countries, has partnered with WebEngage to drive its digital customer base management.Airtel is the second largest telecom service provider in Africa, with more than 60 million data users among a total of...

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Business & Money | Thursday 20 June, 2024 5:48 am

Saudi merchandise imports rise to SAR 201.1B in Q1 2024

Saudi Arabia’s merchandise imports grew by 6% year-on-year (YoY) to almost SAR 201.1 billion in Q1 2024, according to data issued by the General Authority for Statistics (GASTAT).On a quarterly basis, merchandise imports fell by 0.3%, or nearly SAR 650.2 million. The following table...

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Business & Money | Thursday 20 June, 2024 5:13 am

Azizi Developments extends partnership with Xylem for Riviera, Vista and Beach Oasis

Azizi Developments, a leading private developer in the UAE, has extended its collaboration with Xylem, the leading manufacturer of pumps, valves, heat exchangers and accessories for plumbing, wastewater, and HVAC. Xylem will now also supply Azizi’s fourth phase in Riviera, situated in MBR City,...

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