Business & Money | Wednesday 10 January, 2024 1:17 pm

UAE economy expected to grow by 3.8% in 2025: World Bank

The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to 3.7 percent in 2024 and to 3.8 percent in 2025. According to the Global Economic Prospects report released today, the World Bank forecast the growth in the Gulf Cooperation Council (GCC) countries to rise to...

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Business & Money | Wednesday 10 January, 2024 1:15 pm

ADIB launches B2B marketplace to empower Small and Medium Enterprises

Abu Dhabi Islamic Bank (ADIB) has announced the introduction of ADIB Business Souq, an innovative digital marketplace designed to provide comprehensive support to Small and Medium-sized Enterprises (SMEs). This all-in-one digital platform aims to significantly reduce the cost of doing business ...

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Business & Money | Wednesday 10 January, 2024 11:12 am

The Ports, Customs, and Free Zone Corporation introduces Innovative Solutions with the aim of Enhancing Customer Happiness

The Ports, Customs, and Free Zone Corporation achieved record numbers through its virtual employee "Naham," enhancing the experience for customers by addressing all inquiries related to the services provided by the Corporation and its affiliated business units. This was achieved through various...

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Business & Money | Wednesday 10 January, 2024 10:55 am

Dubai Customs Secures TÜV Renewal of ISO 26000 Certification

Affirming Dubai Customs' prominent position both locally and globally in corporate social responsibility, and its commitment to excellence in implementing diverse methodologies for sustainable development, the German registration body "TÜV" has reissued the ISO 26000 certification to Dubai...

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Business & Money | Wednesday 10 January, 2024 10:40 am

Investments in mining sector created economic, social impact: Alkhorayef

Bandar Alkhorayef, Minister of Industry and Mineral Resources, stated that Saudi Arabia, thanks to its investments, managed to achieve an economic and social impact via the mining sector.   Addressing the third Ministerial Roundtable at the Future Minerals Forum today, Jan. 9, he...

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Business & Money | Wednesday 10 January, 2024 10:39 am

World Bank raises Saudi economic growth forecasts to 4.1% in 2024

The World Bank upgraded its expectations for Saudi Arabia’s economic growth to 4.1% this year, from previous forecasts of 2.3% in June 2023.The Kingdom's economy is set to expand, despite extending the voluntary cuts in crude output earlier in 2023, said the World Bank. It added that investment...

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Business & Money | Wednesday 10 January, 2024 10:33 am

Saudi Arabia raises mineral wealth estimates to SAR 9.4T: Alkhorayef

Saudi Arabia revised upward estimates for its mineral resources from $1.3 trillion (SAR 4.9 trillion) in 2016 to $2.5 trillion (SAR 9.4 trillion), Reuters reported, citing Bandar Alkhorayef Minister of Industry and Mineral Resources.   The estimates were revised for phosphate, gold...

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Business & Money | Wednesday 10 January, 2024 10:15 am

Saudi is leveraging cutting-edge technologies to revolutionize healthcare: Philips Future Health Index 2023 Saudi Arabia report

As part of Vision 2030, Saudi launched the Health Sector Transformation Program in 2021, focusing on improving access to affordable healthcare, modernizing facilities, and increasing private-sector investment. Fast forward to today, and the initiative has borne fruit, as evidenced by the takeaways...

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Business & Money | Tuesday 9 January, 2024 1:58 pm

The Rise of Saudi Arabia as an Investment Destination

Saudi Arabia is now a promising destination for global investment due to its transformation under Vision 2030.  The ambitious plan seeks to reduce the country's dependence on oil, promote socio-economic development, and diversify the economy. There are numerous untapped opportunities for...

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Business & Money | Tuesday 9 January, 2024 1:38 pm

Construction Giant ALEC Achieves 150% YoY Saudi Growth; Plans Further Investment and Expansion in 2024

Following the establishment of its Saudi headquarters in Riyadh last year, ALEC Engineering and Contracting LLC (ALEC) today announced it has achieved 150% year-on-year growth in the Kingdom through 2023, highlighted by its successes in winning bids for four projects, and investing to significantly ...

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