Business & Money | Saturday 26 October, 2024 6:34 am

Cargostore and HALEYS Forge Partnership to Drive Qatar’s Offshore Growth

In a move that signals the growing importance of Qatar’s energy sector, two industry giants, Cargostore Worldwide and HALEYS Group Middle East, have announced a strategic partnership poised to reshape the offshore logistics landscape. The collaboration is set to provide vital infrastructure...

More Details

Business & Money | Friday 25 October, 2024 9:42 am

45% of Saudi energy sector localized: Official

Almost 45% of the Saudi energy sector has been localized, with an eye to reach 75% by 2030, said Fuad Mosa, Deputy Minister of Localization, Local Content and Risk Management at the Ministry of Energy.   The oil and gas sector is among those with advanced localization rates, ranging...

More Details

Business & Money | Friday 25 October, 2024 9:20 am

Local content contributes SAR 150B to Saudi Electricity projects: Official

Mahmoud Basra, Director of Local Content at the Saudi Electricity Co. (SEC), said the local content—reflecting the proportion of services produced domestically— exceeded SAR 150 billion (around $40 billion) over the past five years. The utility signed mandatory localization and procurement ...

More Details

Business & Money | Friday 25 October, 2024 9:18 am

Industry Ministry works closely with investors to keep projects on track

Minister of Industry and Mineral Resources, Bandar Alkhorayef, said that the Saudi industrial sector is witnessing significant progress. The industrial strategy identified 800 projects with total investments estimated at around SAR 1.3 trillion, of which projects worth nearly SAR 500 billion are...

More Details

Tourism & Hospitality | Thursday 24 October, 2024 3:58 pm

DoubleTree by Hilton Sharjah Waterfront Hotel & Residences Awarded UAE’s Best Family Hotel Apartment 2024

30th September 2024 – DoubleTree by Hilton Sharjah Waterfront Hotel & Residences has been recognized as the UAE’s Best Family Hotel Apartment for 2024 by the prestigious International Travel Awards. This accolade underscores the hotel’s ongoing commitment to delivering an exceptional and...

More Details

Business & Money | Thursday 24 October, 2024 11:31 am

Saudi Arabia’s FDI grows to SAR 96B in 2023, exceeds target by 16%

Foreign direct investment (FDI) inflows to Saudi Arabia reached SAR 96 billion in 2023, according to data by the Saudi Ministry of Investment. FDI inflows declined by 19% year-on-year (YoY) compared to 2022, when they totaled SAR 119 billion, including a SAR 55 billion Aramco deal. Without the ...

More Details

Business & Money | Thursday 24 October, 2024 11:30 am

MEFIC REIT signs Dubai property swap, to reinvest in real estate firm

MEFIC REIT signed on Oct. 23 a swap agreement worth AED 62.6 million concerning the "The Pad" property located in Dubai, said the fund manager, MEFIC Capital. In a statement to Tadawul, MEFIC Capital added that the deal also involves reinvesting in Downtown Bay Developments Ltd. The...

More Details

Business & Money | Thursday 24 October, 2024 10:47 am

Sure signs SAR 24M contract with Ministry of Tourism

Sure Global Tech Co. signed on Oct. 23 a two-year contract for an expansion project of infrastructure devices in data centers with the Ministry of Tourism at a total of SAR 23.98 million, inclusive of VAT, the company said in a statement to Tadawul. The contract was signed by both parties and...

More Details

Business & Money | Thursday 24 October, 2024 10:45 am

Energy Localization Forums sees 107 deals worth SAR 104B

The Energy Localization Forum witnessed today 107 strategic agreements and memoranda of understanding aimed at reinforcing the Kingdom's global leadership in the energy sector, signed with 117 entities from the public and private sectors, with a total value estimated at SAR 104 billion, according...

More Details

Business & Money | Thursday 24 October, 2024 10:43 am

AI-driven hackers are reshaping cybersecurity in the Middle East, says security industry expert

Integrating artificial intelligence (AI) into cybersecurity is transforming both the defensive and offensive sides of digital security and will be a major topic of discussion when cybersecurity experts convene at the Intersec 2025 Security Leaders’ Summit from 14-16 January 2025 to share insights ...

More Details