Business & Money | Monday 25 September, 2023 12:26 pm

Bawan signs deal to sell entire stake in Bina Holding for SAR 76.7 mln

Bawan Co. signed an agreement to sell its entire ownership in Bina Holding for Industrial Investments Co., Bawan’s concrete industries segment, to Ahmad Muhammad Al-Osaimi for a total value of SAR 76.7 million, according to a statement to Tadawul. Bawan’s stake in Bina Holding amounts to...

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Business & Money | Monday 25 September, 2023 12:22 pm

Al Akaria signs SAR 2.3 bln infrastructure packages contracts for Qiddiya project

Saudi Real Estate Co. (Al Akaria) announced infrastructure packages contracts with Qiddiya Investment Co. (QIC) signed jointly by Saudi Real Estate Infrastructure Co. (BINYAH) and InfraRoad Trading & Contracting LLC, at a total value of SAR 2.29 billion.   In a Tadawul statement, ...

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Business & Money | Monday 25 September, 2023 10:23 am

Al Arabia inks SAR 6.2 mln licensing contract to rent 24 sites in Egypt

Arabian Contracting Services Co. (Al Arabia) inked on Sept. 21 a licensing contract to rent 24 sites in the North Coast, Egypt, at a total value of SAR 6.16 million (EGP 50.5 million), according to a statement to Tadawul.    The contract will last for one year and is...

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Business & Money | Sunday 24 September, 2023 5:19 am

COP28 Presidency tells United Nations General Assembly: “Climate change is our common enemy and we must unite to fight it”

This week the COP28 Presidency team attended the UN General Assembly in New York, seizing on the opportunity of the global gathering to mobilise leaders across government, business and civil society around its ‘Action Agenda’ to keep 1.5 degrees in reach. Spearheaded by COP28...

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Business & Money | Sunday 24 September, 2023 5:14 am

UAE, Indonesia reviewing strengthening economic cooperation

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, led the UAE delegation to the UAE-Indonesia Business Forum, which was held Thursday in the capital, Jakarta. During his visit to Indonesia, Al Mazrouei was received by President Joko Widodo, who expressed his country's...

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Business & Money | Saturday 23 September, 2023 1:44 am

Saudi Arabia has leading position in maritime transport: MAWANI

Saudi Arabia secured a leading position in the maritime transport industry regionally and globally through its geographical location that connects three continents, said Omar Hariri, President of the Saudi Ports Authority (MAWANI).   He told the Saudi Maritime Congress that this...

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Business & Money | Saturday 23 September, 2023 1:42 am

Fed seen to cut interest rates in 2024: BlackRock

The Federal Reserve is nearing the end of its current cycle of interest rate hikes aimed at tamping down inflation and may look to cut rates next year, Rick Rieder, BlackRock's Chief Investment Officer for Global Fixed Income, told Fox Business. "The thing that will be interesting next year is ...

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Business & Money | Saturday 23 September, 2023 1:40 am

Expanding female workforce participation could boost Saudi economy: S&P

The increasing participation of women in Saudi Arabia's workforce is expected to boost the country’s economic growth prospects, according to S&P Global Ratings.   Labor market reforms led female workforce participation for Saudi nationals to nearly double to almost 36% in 2022, ...

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Business & Money | Saturday 23 September, 2023 1:04 am

Bahri Closes Participation in Saudi Maritime Congress 2023 as a Founding Partner

Bahri, a global leader in logistics and transportation, has successfully concluded its participation at the 4th edition of the Saudi Maritime Congress as a founding partner. Held under the patronage of His Excellency Saleh bin Nasser Al-Jasser, Minister of Transport and Logistic Services...

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Business & Money | Saturday 23 September, 2023 12:14 am

UBF: Cybersecurity is key in strengthening customer confidence and developing UAE's banking and financial sector

UAE Banks Federation,  the sole representative and unified voice of UAE banks, reiterated its commitment to supporting efforts that enhance secure and smooth banking experience, in particular, initiatives related to cybersecurity that constitute an essential shield against cyber threats, in...

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