Business & Money | Friday 1 March, 2024 7:00 am

ADNOC closes acquisition of 24.9% stake in OMV

ADNOC announced today that it has formally closed the acquisition of a 24.9 percent shareholding in OMV AG (OMV), a global energy and chemicals group, headquartered and listed in Vienna, Austria, from Mubadala Investment Company (Mubadala). The transaction accelerates delivery of ADNOC’s...

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Business & Money | Friday 1 March, 2024 6:50 am

Eastern Cement inks $270.53M contract to build new production line

Eastern Province Cement Co. signed today, Feb. 29, a 26-month contract with China's Sinoma CDI to establish a new production line in the company’s plant in Khursaniyah at a value of SAR 270.53 million, the company said in a statement to Tadawul. The new production line will operate with a...

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Business & Money | Friday 1 March, 2024 6:43 am

Industry Ministry focuses on small investors in industrial sector: AlKhorayef

The Ministry of Industry and Mineral Resources recently focused on small investors in the industrial sector as Saudi Arabia doubles down on youth who perceive industry as a promising opportunity, according to Minister Bandar AlKhorayef.   In an interview with Al Ekhbariya TV,...

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Business & Money | Friday 1 March, 2024 12:42 am

Careem partners with RedBox to deliver packages in Saudi Arabia

Careem, the region's leading multi-service app, partners with RedBox, the largest parcel locker network in the MENA region, to offer a first-of-its-kind scheduled home delivery service for customers in Jeddah and Riyadh.    Customers can now have their parcels delivered to a...

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Business & Money | Friday 1 March, 2024 12:01 am

Bahri Wins Guinness World Record for Largest Mobile Desalination Plant

Bahri Desalination, a specialized business unit of the National Shipping Company of Saudi Arabia (Bahri), the global shipping and logistics leader, has established a new milestone in seawater desalination production, reinforcing its position as the industry pioneer with the largest...

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Business & Money | Thursday 29 February, 2024 1:21 pm

A record year for ACWA Power backed by strong results for the full year ended 31 Dec 2023

Saudi-listed ACWA Power, the world’s largest private water desalination company, and a leader in energy transition and first mover into green hydrogen, todayannounced a record net profit of SAR 1,662 million in its financial results for the full year ended 31 Dec 2023.  Supported by...

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Business & Money | Thursday 29 February, 2024 10:05 am

MAG WELCOMES MAIN CONTRACTORS TO BID FOR THE CONSTRUCTION OF KETURAH RESERVE

MAG, one of the leading real estate developers in the UAE, has invited contractors to bid for the construction contract of Keturah Reserve, luxury residential development in Meydan, which offers transformational living through the design of space. The construction value of the project is valued at...

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Business & Money | Thursday 29 February, 2024 9:52 am

Bin Sulayem: We innovate the best services that contribute to maintaining Dubai's economic position on the global trade map

The Ports, Customs, and Free Zone Corporation held an extensive meeting with the Marine Agency for Wooden Dhows company owners’ customers which was held at the Queen Elizabeth 2 Hotel at Port Rashid. The purpose was to discuss fruitful cooperation methods to serve the trade and economic sector in ...

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Business & Money | Thursday 29 February, 2024 9:48 am

Deloitte reports record real estate transaction levels in Dubai: Sales prices up 18% and rents up 26% in 2023

 The leading global professional services firm, Deloitte, released its annual Real Estate Report for the year 2023, reflecting on the robust performance of Dubai across all market sectors.   The residential market in Dubai has experienced remarkable growth in 2023, with...

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Business & Money | Thursday 29 February, 2024 9:45 am

du and AWS collaborate to accelerate cloud adoption in the UAE

du, from Emirates Integrated Telecommunications Company (EITC), today announced a new partnership with Amazon Web Services (AWS) at the Mobile World Congress (MWC) in Barcelona, to drive cloud adoption for enterprises and government agencies in the UAE. du and AWS are collaborating to...

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