Business & Money | Monday 12 February, 2024 9:14 am

IMF Managing Director forecasts higher economic growth for Arab region in 2024

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), highlighted the increasing significance of the Arab region in a rapidly evolving global landscape. She projected that the total GDP growth for the Middle East region would reach 2.9% this year, surpassing the figures...

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Business & Money | Monday 12 February, 2024 9:12 am

stc advances in bidding for Altice's assets in Portugal

stc, along with France’s Iliad SA and others, has progressed in the bidding for Altice's assets in Portugal, Bloomberg reported, citing sources.   Warburg Pincus LLC, a New York-based global private equity firm, has also progressed to the second round of bidding, while several ...

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Business & Money | Monday 12 February, 2024 9:09 am

solutions inks framework deal with Center3 with SAR 150M ceiling

Arabian Internet and Communications Services Co. (solutions) signed, on Feb. 8, a framework agreement with Digital Centers for Data and Telecommunications Co. (Center3) to design and build the infrastructure for POD’s (Data Center Halls) and MMRs (Meet Me Rooms) with a maximum ceiling of SAR 150...

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Business & Money | Monday 12 February, 2024 9:06 am

MIS to expand capacity of 2 data centers in Dammam for SAR 155.4M

Al-Moammar Information Systems Co. (MIS) received new orders to expand the capacity of two data centers in Dammam, which it shares with Saudi Fransi Capital (SFC), for SAR 155.43 million (including VAT).   This is considered the beginning of the second phase to boost the...

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Business & Money | Monday 12 February, 2024 9:04 am

Riyadh Region Mayor directs establishing real estate department

Prince Faisal bin Ayyaf, Mayor of Riyadh Region, directed the establishment of the general department for real estate development, Saudi Press Agency reported.The move aims to achieve Riyadh’s ambitions in the real estate sector, which is one of the key sectors in...

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Business & Money | Sunday 11 February, 2024 8:51 am

ADGM Academy Research Centre hosts ‘Quant for Quants’ Conference

Abu Dhabi Global Market Academy (ADGMA) Research Centre successfully hosted its groundbreaking three-day conference last month, ‘Quant for Quants’ (Q4Q), that aims at tackling questions on the impact of quantum computing in finance by gathering leading experts from finance, quantum technology...

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Business & Money | Sunday 11 February, 2024 8:46 am

National ICV Programme supports sustainable economic growth: Officials

Several officials affirmed that the National ICV Programme has continued, since its launch within “Projects of the 50” under the umbrella of the Ministry of Industry and Advanced Technology (MoIAT), to achieve qualitative milestones that have contributed to the UAE’s industrial development,...

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Business & Money | Sunday 11 February, 2024 8:39 am

Aldar reports AED4.4 billion in 2023 net profit, up 40% YoY

Aldar announced today that record development sales and expanded investment portfolio drive the company's 2023 net profit up 40% to AED4.4 billion, compared to 2022. In a statement today, the Abu Dhabi-listed property giant, reported the highest-ever quarterly development sales of AED8.5...

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Business & Money | Sunday 11 February, 2024 8:30 am

Abu Dhabi Dialogue addresses skill mobility between sending, receiving countries in line with future prospects of work

Preparations for the Seventh Abu Dhabi Dialogue (ADD) Ministerial Consultation started in Dubai on Saturday, 10 February 2024, as senior officials from the ministries of labour, human resources, and employment of 16 ADD member countries held eight working sessions attended by representatives of...

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Business & Money | Sunday 11 February, 2024 8:27 am

GCC Commercial Arbitration Centre, Aramco Discuss Collaboration in Contract Development, Expert Qualification

Dr. Kamal Al-Hamad, the Secretary General of the GCC Commercial Arbitration Centre, engaged in discussions with Mr. Wail Al Jaafari, the Executive Vice President of Technical Services at Saudi Aramco, exploring avenues for collaborative initiatives and the exchange of expertise. The focus was on...

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