Business & Money | Saturday 7 October, 2023 6:26 am

FAB issues largest-ever USD tier 2 bond from a UAE Bank

First Abu Dhabi Bank (FAB), UAE's largest bank and one of the world's largest and strongest financial institutions, successfully issued its inaugural USD Tier 2 capital securities on Tuesday, September 26,2023. The USD 1 billion 10.5NC5.5-Year Tier 2 Bond is the largest-ever Tier 2 issuance...

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Business & Money | Saturday 7 October, 2023 6:20 am

Raff Publishing announces exciting license agreement with Disney to elevate Arabic-language children's literary offerings

In an exciting license agreement with Disney, Raff Publishing is set to release 92 Disney stories to the MENA region, including countries such as Saudi Arabia, Egypt, Qatar, Bahrain, Jordan, Kuwait, Lebanon, Oman, and the United Arab Emirates. This marks a significant milestone as Raff...

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Business & Money | Saturday 7 October, 2023 6:12 am

Emirates NBD launches new digital wealth offering with 11,000 instruments across 21 global and local markets

Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has launched a digital wealth platform that allows customers to trade securities and ETFs on both global exchanges such as, Nasdaq, NYSE, and London Stock Exchange and local markets such as, Dubai...

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Business & Money | Saturday 7 October, 2023 5:52 am

PCFC Discusses Practices to Boost Trade through Wooden Dhows along with Vegetables and Fruits Sector

The Ports, Customs and Free Zone Corporation, represented by the Marine Agency for Wooden Dhows, held a meeting with fruit and vegetable merchants in the Hamriyah Market in the Emirate of Dubai, within the framework of strengthening relations between the Marine Agency for Wooden Dhows and its...

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Business & Money | Saturday 7 October, 2023 5:37 am

SASCO opens 4 stations in Riyadh, Jazan, Al Khobar

Saudi Automotive Services Co. (SASCO) launched four new stations in Riyadh, Jazan and Al Khobar, the company said on messaging platform X.   This includes King Faisal Road station, Jazan; Abu Bakr Al-Siddiq Road station, Afif Governorate; King Abdul Aziz Road station, Al-Arid...

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Business & Money | Friday 6 October, 2023 6:14 am

Saudi Arabia records 163,400 Zakat, tax, customs claims until September

The total number of Zakat, tax and customs claims amounted to more than 163,420 until September 2023, according to data issued by the General Secretariat of Zakat, Tax and Customs Committees. Riyadh topped the Saudi regions in terms of the number of Zakat, tax and customs claims with about...

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Business & Money | Friday 6 October, 2023 6:11 am

Emaar EC reappoints Fahad Al-Saif as Chairman, Jamal Bin Theniyeh as Vice Chairman

Emaar The Economic City Co.’s (Emaar EC) board of directors reappointed Fahad Al-Saif (non-executive member) as Chairman and Jamal Bin Theniyeh (non-executive member) as Vice Chairman, the company said in a statement on the Saudi Exchange (Tadawul) today, Oct. 5.   In addition, the ...

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Business & Money | Friday 6 October, 2023 6:04 am

AWPT to set up limited liability company in Riyadh

Alkhorayef Water and Power Technologies Co.’s (AWPT) board of directors approved, on Oct. 4, to set up a limited liability company (LLC) in Riyadh, according to a statement to Tadawul.   The new entity will be capitalized at SAR 100,000 and will be fully owned by AWPT. It will...

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Business & Money | Friday 6 October, 2023 6:02 am

Saudi Steel Pipe, Aramco sign SAR 62.8 mln supply contract

Saudi Steel Pipe Co. (SSP) won a SAR 62.8 million contract to supply oil and gas steel pipes to Saudi Aramco. In a statement to Tadawul, SSP said the 10-month contract was signed today, Oct. 5. The relevant financial impact is expected to show in Q3 2024. There are no...

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Business & Money | Friday 6 October, 2023 5:59 am

Saudi Arabia records highest travel surplus in balance of payments in H1 2023

The Ministry of Tourism revealed that Saudi Arabia reported the highest-ever semi-annual surplus for the travel item in the balance of payments (BOP) during the first half of 2023. The surplus rose to nearly SAR 40 billion, supported by the significant growth in the spending by visitors of about...

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