Business & Money | Thursday 26 October, 2023 1:20 pm

PIF, Pirelli announce JV to set up tire manufacturing facility

The Public Investment Fund (PIF) and Pirelli Tyre S.P.A (Pirelli), a leading global tire manufacturer, announced today, Oct. 26, the signing of a joint venture (JV) agreement to build a tire manufacturing facility in Saudi Arabia.   PIF will hold a 75% stake in the new JV with...

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Business & Money | Thursday 26 October, 2023 1:13 pm

Ahmed bin Saud Al Qasimi inaugurates Ni Met Recycling, marking a milestone in the Emirate’s vision for a circular economy

Sheikh Ahmed bin Saud Al Qasimi, Chairman of Ras Al Khaimah's Public Services Department, inaugurated the state-of-the-art stainless-steel and non-ferrous scrap recycling facility Ni Met Recycling.   Present at the ceremony were Anil Shah, Chairman and Managing Director of Ni Met...

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Business & Money | Thursday 26 October, 2023 11:19 am

Automechanika Dubai 2023 sees 21% year-on-year growth in trade visitors as the event sets new record

Automechanika Dubai, the largest international trade exhibition for the automotive aftermarket industry in the Middle East, has welcomed 52,082 trade visitors during the three-day showcase, which concluded earlier this month. The figure represents a year-on-year increase of 21% in trade...

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Business & Money | Thursday 26 October, 2023 9:34 am

ROYAL COMMISSION FOR ALULA AND SAUDI TELECOM COMPANY SOLIDIFY 15-YEAR PLAN TO IMPROVE TELECOMS IN ALULA COUNTY

The Royal Commission for AlUla (RCU) has cemented its alliance with Saudi Telecom Company (STC), affirming a 15-year collaboration announced at the seventh annual Future Investment Initiative in Riyadh. This partnership showcases the joint vision of RCU and STC to drive AlUla’s digital...

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Business & Money | Thursday 26 October, 2023 9:30 am

THE ROYAL COMMISSION FOR ALULA ANNOUNCES NEW MULTI-MILLION SAR STRATEGIC SECURITY INTEGRATION PROJECT WITH THALES

AlUla’s world-renowned collection of ancient artefacts, important cultural landmarks, and heritage assets will be protected around the clock using the latest digital technology and surveillance equipment as part of a new security agreement between Thales and the Royal Commission for AlUla...

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Business & Money | Thursday 26 October, 2023 9:16 am

Diriyah Gate Development Authority launches “Traditional Architecture Gathering” in the historic

In celebration of Najdi architecture, a treasured source of pride, and as a testament to the preservation of heritage and traditional architecture in the modern era, the Diriyah Gate Development Authority (DGDA) is set to organize the “Traditional Architecture Gathering” at the historic...

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Business & Money | Thursday 26 October, 2023 9:13 am

ADDED & JOCIC team up to enhance competitiveness, attract investments to industrial sector in Abu Dhabi

The Abu Dhabi Department of Economic Development (ADDED) and Jiangsu Overseas Cooperation and Investment Corporation (JOCIC) have signed a memorandum of understanding (MoU) to maxmise synergies of Abu Dhabi Industrial Strategy (ADIS) and China’s Belt and Road Initiative and guide...

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Business & Money | Thursday 26 October, 2023 9:08 am

LanzaTech Forms Joint Venture with Olayan Financing Company to Deploy Carbon Recycling Technology in Saudi Arabia

LanzaTech Global, Inc. (NASDAQ: LNZA), the carbon recycling company transforming waste carbon into sustainable raw materials, and Olayan Financing Company (OFC), the parent company of The Olayan Group’s businesses and investments in Saudi Arabia and the Middle East,  have ...

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Business & Money | Thursday 26 October, 2023 9:06 am

AHS Properties Sells $50 Million One Canal Penthouse in Dubai Water Canal

In a move representing the pinnacle of luxury real estate, AHS  Properties has marked an industry milestone with the sale of an iconic penthouse in One Canal for an unprecedented $50 million. The ultra-luxury residential building along the Dubai Canal was sold to the family office of a...

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Business & Money | Thursday 26 October, 2023 8:50 am

Saudi Arabia sets January 2024 as deadline to move regional HQ to Riyadh: Al-Jadaan

Saudi Arabia will set the deadline for international companies to move their regional headquarters (HQ) to Riyadh by January 2024, otherwise they will lose their agreements with the government, Reuters reported, citing Minister of Finance Mohammed Al-Jadaan.   Further, a tax...

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