Business & Money | Wednesday 18 September, 2024 11:38 am

Ministry of Energy and Infrastructure highlights strategic initiatives at World Utilities Congress

The Ministry of Energy and Infrastructure (MoEI) showcases the latest technologies that enhance the efficiency of demand management and energy and water use in the third edition of the World Utilities Congress. The Ministry, through its participation in the congress, highlights its strategic...

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Business & Money | Wednesday 18 September, 2024 11:37 am

ADGM, DMT sign MoU to facilitate transfer of real estate services on Al Reem Island

Abu Dhabi Global Market (ADGM) and the Department of Municipalities and Transport (DMT) have signed a Memorandum of Understanding to facilitate the transfer of real estate services within ADGM's expanded jurisdiction. As ADGM expands its presence on Al Reem Island, the MoU establishes a...

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Business & Money | Wednesday 18 September, 2024 11:27 am

GCC economic growth to grow 4.4% in 2025: Oxford Economics

The latest ICAEW Economic Insight report for the Middle East, prepared by Oxford Economics, said that the GCC region is poised for a significant rebound, with growth projected to more than double to 4.4% in 2025. The report highlighted that while economic growth in the Middle East is projected ...

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Business & Money | Wednesday 18 September, 2024 11:17 am

Ajdan and AlJazira Capital to Launch 2 billion Riyal Real Estate Project in Riyadh

In a strategic move that builds on their ongoing collaboration, Ajdan Real Estate Development Company has entered into a new agreement with AlJazira Capital to develop a mixed-use project in the heart of Riyadh, valued at nearly 2 billion riyals. The project will involve the creation of mixed-use...

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Business & Money | Wednesday 18 September, 2024 11:14 am

Dubai Future Foundation launches ‘The Future of Progress’ report rethinking national success

Dubai Future Foundation (DFF) today published a report titled “The Future of Progress”, making the case for a new global measurement of national success that goes beyond the traditional concept of gross domestic product (GDP).  DFF had previously raised the notion of new definitions...

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Business & Money | Wednesday 18 September, 2024 11:07 am

Tassnief affirms Ladun rating at BBB+

Simah Rating Agency (Tassnief) maintained its long-term credit rating for Ladun Investment Co. at “BBB+” and its short-term rating at “T-4” with Stable outlook.   In an emailed statement to Argaam, Tassnief explained that the ratings reflect the company's large-scale...

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Business & Money | Wednesday 18 September, 2024 11:04 am

SARCO to secure SAR 500M facilities from Riyad Bank

Saudi Arabia Refineries Co. (SARCO) signed an agreement with Riyad Bank to secure SAR 500 million Shariah-compliant facilities.   The facility term will be three years, or 360 renewable days, said the company, indicating that the loan was guaranteed by its investment...

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Business & Money | Wednesday 18 September, 2024 11:00 am

Contracting committee studies ways to ease rise in building material prices

The Permanent Coordination Committee for the Development of the Contracting Sector is studying proposals to address challenges to reduce building materials price inflation, said Waleed Sultan, General Supervisor for Classification Development at the Ministry of Municipalities and...

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Business & Money | Wednesday 18 September, 2024 10:38 am

Saudi Top pens contract to buy polycarbonate waste from SABIC

Saudi Top for Trading Co. signed a contract with Saudi Basic Industries Corp. (SABIC) to buy polycarbonate waste from SABIC.   In a statement to Tadawul, the company said that the contract has a term of three years starting from Oct. 1, 2024, adding that the deal will contribute to...

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Business & Money | Wednesday 18 September, 2024 10:18 am

GEA, Kafalah to provide financial support to SMEs

The General Entertainment Authority (GEA), in partnership with the Small and Medium Enterprises Loan Guarantee Program (Kafalah), will provide financial support to SMEs of up to SAR 100 million to boost and empower the entertainment sector and stimulate economic growth, Chairman Turki Al-Sheikh...

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