Business & Money | Sunday 1 October, 2023 11:01 am

CENOMI CENTERS AND CAREEM FORM STRATEGIC PARTNERSHIP TO DELIVER SEAMLESS RETAIL EXPERIENCE FOR CUSTOMERS

Cenomi Centers, the leading owner, operator, and developer of contemporary lifestyle centers in Saudi Arabia, and Careem, the region’s leading multi-service app,                 have announced a new strategic partnership aimed at improving...

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Business & Money | Sunday 1 October, 2023 10:00 am

Saudi economy seen to grow 0.03% in 2023

The Ministry of Finance expected to maintain positive economic growth rates this year and in the medium term, backed by structural reforms and sector strategies in line with Vision 2030.   In its Pre-Budget Statement 2024, the ministry expected real gross domestic product (GDP) to...

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Business & Money | Sunday 1 October, 2023 10:00 am

Red Sea International, Al Rajhi sign SAR 330 mln agreement to finance acquisition

Red Sea International Co. signed on Sept. 28 a financing facility agreement contract worth SAR 330 million with Al Rajhi Bank. The agreement aims to finance the acquisition of a 51% stake in Fundamental Installation for Electric Work Co. Ltd. (First Fix), the company said in a statement to...

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Business & Money | Saturday 30 September, 2023 3:07 am

UAE's EDGE acquires 50 percent stake in Brazil's SIATT

The UAE’s EDGE Group, one of the world’s leading advanced technology and defence groups, has announced the acquisition of a 50 percent stake in Brazilian smart weapons and high-tech systems specialist, SIATT. The acquisition deal was officially signed at SIATT's headquarters in the city of ...

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Business & Money | Saturday 30 September, 2023 12:58 am

CMA OKs View Real Estate 18.2% IPO on Nomu

The Capital Market Authority (CMA) approved on Sept. 28 registering and offering 600,000 shares, or 18.18% of View Limited Real Estate Development Co.’s capital on Nomu-Parallel Market, according to a CMA statement.   The IPO will be confined to qualified investors and the...

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Business & Money | Saturday 30 September, 2023 12:48 am

Italian Riviera-Inspired Dh250 Million ‘Samana Portofino’ Project Launched in Dubai Production City

Samana Developers, one of the fastest growing real estate companies according to Dubai Land Department data of Dubai developers, today launched a Dh250 million ‘Samana Portofino’ residential project in Dubai Production City, a popular freehold community alongside Sheikh Mohammed Bin Zayed...

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Business & Money | Saturday 30 September, 2023 12:22 am

NEOM and MB92 Group announces a yacht repair center at Sindalah

NEOM and leading superyacht maintenance company, MB92 Group, have announced a partnership to establish a 10,000 square-meter repair facility for yachts at NEOM’s luxury island and yachting destination on the Saudi water of the Red Sea, Sindalah.   The partnership aligns with the...

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Business & Money | Saturday 30 September, 2023 12:04 am

Tabby to set up HQ in Saudi Arabia ahead of Tadawul listing: Investment Ministry

The Ministry of Investment announced that Tabby, a leading fintech services provider in MENA, is set to establish its headquarters in the Kingdom ahead of listing its shares on the Saudi Exchange (Tadawul).   The ministry signed a memorandum of understanding today, Sept. 28, with...

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Business & Money | Friday 29 September, 2023 5:09 pm

Saudi Arabia in talks with major traditional car makers: Alkhorayef

Saudi Arabia is in talks with a major traditional car manufacturer, Asharq Al-Awsat newspaper quoted Minister of Industry and Mineral Resources, Bandar Alkhorayef, as saying.   Several car makers will enter the Saudi market, and the outcomes of these talks are expected to be...

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Business & Money | Friday 29 September, 2023 12:57 am

EVA Pharma to Obtain Over 50,000 sqm of Land for an Industrial Complex Investment in Saudi Arabia

EVA Pharma, one of the fastest-growing pharmaceutical companies in the Middle East and Africa (MEA) region, signed a contract today with the Saudi Authority for Industrial Cities and Technology Zones, known as MODON, to attain a 50,517 sqm plot of land in Sudair City, for its state-of-the-art...

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