Business & Money | Friday 20 October, 2023 8:50 am

FAB announces net profit of AED12.4 billion in first 9 months of 2023

First Abu Dhabi Bank (FAB) has achieved record performance in the first nine months of 2023, reporting that net profit for the period reached AED12.4 billion, up 58% year-on-year on an underlying basis (excluding Magnati-related gains in 2022). Revenue was AED20.5 billion, up 38% year-on-year, ...

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Business & Money | Friday 20 October, 2023 8:46 am

Emaar EC seals deal to develop tourist destination in KAEC

Emaar The Economic City (Emaar EC), the master developer of King Abdullah Economic City (KAEC), signed today, Oct. 19, a strategic cooperation agreement with Orascom Development Co. and Al Kholi Group to develop a world-class, mixed-use tourist destination in KAEC, the Saudi Press Agency...

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Business & Money | Friday 20 October, 2023 8:44 am

TGA launches concession for intercity bus transport in Southern region

The Transport General Authority (TGA) announced the launch of SAT services through a consortium between the Saudi Public Transport Company (SAPTCO) and the Spanish company ALSA, which won the concession for intercity bus transport in the southern region. This came within the framework of opening...

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Business & Money | Friday 20 October, 2023 8:40 am

PIF prices inaugural int’l sukuk issue at $3.5 bln, orders surpass $25 bln

The Public Investment Fund (PIF) successfully priced today, Oct. 19, its first dollar-denominated Shariah-compliant trust certificates (sukuk). The total amount of the issuance is $3.5 billion, consisting of two tranches: - $2.25 billion, five-year sukuk maturing in 2028. - $1.25 billion, ...

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Healthcare | Friday 20 October, 2023 8:36 am

CERBA HEALTHCARE AND NEXUS GULF HEALTHCARE ANNOUNCE STRATEGIC JOINT VENTURE

Cerba HealthCare, a leading global player in medical diagnosis, and Nexus Gulf Healthcare, a preeminent healthcare investment company focused on developing the healthcare system in the Kingdom of Saudi Arabia, through its Saudi investing arm Al Gihaz Healthcare, today announced they have...

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Business & Money | Friday 20 October, 2023 8:33 am

Ajman DOF Invites Independent Government Entities to Join the ‘Tawreed’ Platform

As part of its engagement at GITEX Global 2023, the Ajman Department of Finance introduced the second phase of the ‘Tawreed’ platform, a consolidated digital portal for government procurement in the emirate. This platform allows independent government entities in Ajman to post tenders, assess...

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Technology & IT | Friday 20 October, 2023 8:31 am

GITEX GLOBAL Weighs in on Sustainability, E-government, Smart Homes and Future of Computing on Day 4

Last year, the UAE announced the "UAE Net Zero by 2050 Strategic Initiative", a national drive to achieve net-zero emissions by 2050, making the Emirates the first Middle East and North African nation to do so. At GITEX GLOBAL 2023, Faisal Ali Rashid, Senior Director, Energy Demand Side...

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Tourism & Hospitality | Friday 20 October, 2023 8:29 am

DIRIYAH JOINS UNWTO WITH A CEREMONY HELD DURING THE 25TH SUMMIT IN UZBEKISTAN

Diriyah Company has today joined the United Nations World Tourism Organization (UNWTO) as an Affiliate Member in a significant move towards fostering global tourism collaboration and advancing Saudi Arabia's tourism sector. This development reaffirms Diriyah Company's dedication to promoting...

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Sports | Friday 20 October, 2023 1:18 am

Saudia Extends partnership as Newcastle United’s Official Airline Partner

Saudia, the national flag carrier of the Kingdom of Saudi Arabia, announces a multi-year partnership extension with Newcastle United Football Club (NUFC), becoming its Official Airline Partner. This milestone agreement marks a significant step and will see the Kingdom’s premier airline...

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Environment & Energy | Friday 20 October, 2023 1:12 am

COP28 Business & Philanthropy Climate Forum unveils key Partners, uniting to drive global climate action

The inaugural COP28 Business & Philanthropy Climate Forum, hosted by the COP28 Presidency on 1 and 2 December 2023 in parallel with the world leaders World Climate Action Summit, has announced key partnerships with leading global organizations, joining forces to...

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