Business & Money | Thursday 15 August, 2024 10:38 am

Abu Dhabi Sustainable Water Solutions-led consortium to develop Uzbekistan's largest wastewater treatment plant

A strategic consortium comprising Abu Dhabi Sustainable Water Solutions Company (SWS), Marubeni Corporation, and Suez, has signed a joint development agreement with the Ministry of Investment, Industry and Trade of Uzbekistan, and Uzsuvtaminot JSC for the development of a wastewater treatment plant ...

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Business & Money | Thursday 15 August, 2024 10:36 am

BUSINESS AVIATION MOVEMENTS AT DUBAI SOUTH CONTINUE TO GROW, RECORD 7% INCREASE IN H1 2024

The Mohammed bin Rashid Aerospace Hub (MBRAH) at Dubai South continues to achieve outstanding private jet movements, with 8,472 movements in the first six months of 2024, a growth of 7% over the same period in 2023. This achievement reflects the growing maturity of the business aviation ecosystem...

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Business & Money | Thursday 15 August, 2024 10:29 am

Sadr secures SAR 74.6M credit facilities from ADF

Sadr Logistics Services Co. sealed a SAR 74.6 million loan agreement with the Agricultural Development Fund (ADF), as per the fund's lending regulations, according to a Tadawul filing today, Aug. 14. The loan will finance the establishment of the Logistics Services Complex Project (Sadr Park)...

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Business & Money | Thursday 15 August, 2024 10:26 am

Red Sea subsidiary inks SAR 253M construction contract

Red Sea International Co.'s subsidiary, The Fundamental Installation for Electric Work Co. Ltd., signed today, Aug. 14, a contract worth SAR 253.09 million (VAT inclusive) with Modern Building Leaders Co. (MBL), according to a Tadawul statement. Under the 564-day contract, the...

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Business & Money | Thursday 15 August, 2024 10:23 am

S&P: GCC insurance sector likely to grow supported by Saudi market

S&P Global Ratings expects the insurance sector in the Gulf Cooperation Council (GCC) countries to grow by about 15% to 20% in 2024, with revenues exceeding $20 billion. The agency said that the Saudi market is seen to be the main driver of revenue growth in the GCC region, similar to the...

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Business & Money | Thursday 15 August, 2024 10:18 am

Electrical Industries’ unit inks SAR 281M contract with Hyundai

Electrical Industries Co.’s subsidiary, Saudi Power Transformers Co., signed on Aug. 14 a contract with Hyundai Engineering Co. Ltd. to supply transformers, for SAR 281.13 million (excluding VAT), according to a statement to Tadawul. The 15-month contract entails a purchase order for design, ...

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Business & Money | Thursday 15 August, 2024 10:15 am

Cenomi Retail names Salim Fakhouri as CEO

Fawaz Abdulaziz Alhokair Co.’s (Cenomi Retail) board of directors appointed Salim Fakhouri as CEO, effective Aug. 14, according to a statement on Tadawul. Last March, the company named Fakhouri as the acting CEO. Fakhouri has more than 20 years of experience in the retail and fashion...

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Business & Money | Thursday 15 August, 2024 10:12 am

ROSHN Group and EFAA Partner to Empower Disabled Individuals and Enhance Quality of Life in the Eastern Region

ROSHN Group, Saudi Arabia’s leading multi-asset class real estate developer and a PIF Company, has entered into a strategic partnership with the EFAA Rehabilitation Complex (EFAA). The agreement, which was announced during a ceremony held under the patronage of His Royal Highness the Governor of...

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Business & Money | Thursday 15 August, 2024 9:47 am

Azizi Developments, Bahra Electric partner across multiple Dubai projects

Azizi Developments, a leading private developer in the UAE, has announced its partnership with Bahra Electric, the prominent electrical manufacturing company based in Saudi Arabia. The company specializes in producing and supplying a wide range of electrical products and solutions, including...

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Business & Money | Thursday 15 August, 2024 9:44 am

Salama reports a 67% increase in net profit in H1 2024

 Islamic Arab Insurance Company (DFM listing: “Salama”), UAE’s largest Takaful solutions provider, has reported a net profit of AED 20.53 million, compared to AED 12.26 million during the same period in 2023. In line with the company’s commitment to delivering core business...

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