Business & Money | Sunday 24 March, 2024 10:46 am

SAL details agreement with Tibah Airports to develop new cargo terminal

SAL Saudi Logistics Services Co.’s agreement with Tibah Airports Operation Co. for the lease of land at Prince Mohammed Bin Abdulaziz International Airport in Madinah is valued at SAR 420,000 per year, or a percentage of the revenue, whichever is higher.   The percentage of the...

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Business & Money | Sunday 24 March, 2024 10:44 am

Alandalus, Sulaiman Al Habib to begin gradual ops at Jeddah hospital on March 31

Alandalus Property Co. and Dr. Sulaiman Al Habib Medical Services Group said that Al-Fayhaa Hospital in Jeddah will open doors and start phased operations on March 31. The final license was obtained from the Ministry of Health on March 23, both companies said in separate...

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Business & Money | Sunday 24 March, 2024 10:42 am

ACWA Power's NOORo III in Morocco offline due to forced outage

ACWA Power announced a forced outage at its NOORo III plant in Morocco after receiving a notice from the project’s company about a leak in the hot molten salts tank. The preliminary analysis showed that the forced outage will last until November 2024.   The preliminary estimates...

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Business & Money | Sunday 24 March, 2024 10:19 am

How Saudi’s Leading E-commerce Marketplace Mazeed is Personalizing Customer Engagement During Ramadan

For consumer brands in Saudi, Ramadan is nothing short of a retail phenomenon. Rising disposable incomes and the accompanying spending, which have increased the GDP contribution of the retail industry to over 10% in Saudi, become more evident during the holy month of Ramadan. Much like the...

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Business & Money | Sunday 24 March, 2024 10:10 am

OPEC Fund provides US$50 mn loan to support agriculture and food sector in Türkiye, prioritizing earthquake-hit regions

The OPEC Fund for International Development (OPEC Fund) is extending a US$50 million loan to Türkiye to support the agricultural and food production sectors, prioritizing 11 cities hit by the devastating earthquakes of February 2023. The Development and Investment Bank of Türkiye (TKYB) will...

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Business & Money | Sunday 24 March, 2024 9:21 am

Sharjah Islamic Bank provides first Islamic financial facility for Turkiye Wealth Fund

Sharjah Islamic Bank (SIB) and the Turkiye Wealth Fund (TWF) announced the signing of an agreement to provide a Shariah-compliant Murabaha facility worth $100 million USD, for a period of 3 years. This agreement, facilitated by Dogan Investment Bank, marks the first time the Turkish Sovereign...

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Government | Saturday 23 March, 2024 7:11 am

UAE participates in Nuclear Energy Summit in Brussels

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, led the UAE delegation participating in the Nuclear Energy Summit that was held for the first time on Thursday in the Belgian capital, Brussels. It was organised and hosted by the Belgian government and the International...

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Business & Money | Saturday 23 March, 2024 7:09 am

Response Plus Holding net profit surges 68% to AED 49.39 million during 2023

Response Plus Holding PJSC (ADX: RPM) has released its audited financial results for the period ending December 31, 2023. The Group’s net profit surged 68 percent to AED 49.39 million during 2023, compared to AED 29.31 million recorded in the previous year, while the Group’s Revenue...

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Environment & Energy | Saturday 23 March, 2024 7:07 am

Strengthening water security crucial to fostering global stability: Al Dahak

Dr. Amna bint Abdullah Al Dahak, Minister of Climate Change and the Environment, emphasised that strengthening water security is crucial for fostering stability and supporting social and economic prosperity globally. On World Water Day, which falls annually on 22nd March, Dr. Al Dahak said,...

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Business & Money | Saturday 23 March, 2024 6:59 am

Mai Dubai Receives a Green Certification for Hosting at Moro Hub Green Cloud

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC), presented a Green Certificate to Mai Dubai, the UAE’s leading bottled water company. The Green Certificate was presented to Abraham Kah Chief Executive Offier of Mai Dubai by Mohammed Bin ...

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