Business & Money | Saturday 30 December, 2023 12:39 am

Alstom signs over EUR500M contract for AlUla tramway with RCU

France-based global rail transport company Alstom signed a contract valued at more than EUR 500 million with The Royal Commission for AlUla (RCU) to build the AlUla tramway.   The tram route is battery powered.   The low-carbon AlUla tramway will have 20 trains running ...

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Business & Money | Saturday 30 December, 2023 12:36 am

Giza Systems plans $140M investments in Saudi Arabia; to enter Oman, Kuwait in 2024

Egypt-based Giza Systems Co. is planning $200 million investments next year, of which $140 million, or 70% of the company’s investments, will be injected to boost the company’s presence in Saudi Arabia, Chairman Osama Sorour told Asharq News.   Giza Systems pumped $450 million...

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Business & Money | Saturday 30 December, 2023 12:16 am

e& ends discussions to up stake in Mobily

Abu Dhabi-listed telecom operator e& announced terminating discussion on a possible increase in its holding in Etihad Etisalat Co. (Mobily). The UAE’s telecom giant decided not to pursue the potential transaction.   In March 2022, Mobily said e& approached to discuss...

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Business & Money | Friday 29 December, 2023 3:02 am

Bahri Logistics Partners with Saudi Arabia Railways to Provide International Freight Forwarding Services

Bahri Logistics, a global leader in logistics and transportation and one of the six business units of Bahri, has entered into an international freight forwarding service agreement with Saudi Arabia Railways (SAR). SAR is the owner and operator of the railway networks in Saudi Arabia, which...

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Business & Money | Friday 29 December, 2023 1:55 am

Construction in steady progress on DAMAC’s Safa TWO de GRISOGONO luxury tower

DAMAC Properties, a leading luxury real estate developer in the UAE, has announced construction updates for its prestigious branded tower Safa Two de GRISOGONO.    The renowned property developer has revealed a phase-by-phase timeline on works for the upcoming project with an...

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Business & Money | Friday 29 December, 2023 1:49 am

Samana Developers Surpasses Expectations in 2023, Sets Ambitious Target of Dh8 Billion in 2024

Amid Dubai's unprecedented growth in real estate transactions, Samana Developers proudly reflects on a year of extraordinary accomplishments in 2023. The developer has surpassed the target of Dh3.3 billion in sales in 2023. Dubai's status as a global destination for living, working, and...

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Business & Money | Friday 29 December, 2023 1:30 am

GCC inks free trade agreement with South Korea

The Gulf Cooperation Council (GCC) signed a free trade agreement with South Korea, a step toward achieving Gulf economic integration and strengthening economic and trade relations between the two sides. GCC Secretary-General Jasem AlBudaiwi and South Korean Trade Minister Ahn Duk-geun signed a ...

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Business & Money | Friday 29 December, 2023 1:24 am

Dubai Civil Defence collaborates with Intersec 2024 to propel fire and rescue innovations in the UAE

As Intersec, the leading international exhibition for fire, security, emergency services, safety, policing, and cybersecurity, gears up for its 25th-anniversary edition, the focus will be on remarkable innovation and collaborations within the fire and safety sector.  Under the patronage...

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Business & Money | Friday 29 December, 2023 1:04 am

The Luxe Developers research highlights the increasing demand for property in RAK

Ras Al Khaimah’s real estate market is providing a lucrative climate for property developers according to research from Colliers, conducted on behalf of The Luxe Developers, highlighting the increase in transactions and value of real estate in the Emirate in recent...

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Business & Money | Friday 29 December, 2023 12:33 am

Tameed Platform Closes Series A Funding Round of SAR 56.75 Million

Tameed Raises 56.75M SAR in Series A Funding round lead by Alromaih Group Highlighting investors’ trust, Tameed Digital Lending Platform, which offers shariah-compliant Government Purchase Orders Financing for SMEs in Saudi Arabia, announced that it has successfully closed a funding round (Series ...

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