Business & Money | Sunday 12 November, 2023 9:10 am

GADHA's Continuing Mission Is to Educate and Guide Sustainability Leaders

As the United Arab Emirates nears the culmination of the Year of Sustainability, which has been centered around the theme "Today for Tomorrow," the nation has witnessed many initiatives, events, and activities that have shed light on the UAE's extensive heritage in sustainable practices. These...

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Business & Money | Sunday 12 November, 2023 8:41 am

NEOM opens London office as base for UK and European business, its first international office

NEOM, the sustainable regional development taking shape in northwest Saudi Arabia, has opened its first international office in London, United Kingdom (UK), which will serve as a base for NEOM’s business across Europe.    The official opening was led by Prince Khalid bin...

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Business & Money | Saturday 11 November, 2023 4:32 am

DEWA reports record revenue of AED9.4bn in Q3'23

Dubai Electricity and Water Authority PJSC (DEWA) today reported its third quarter 2023 (Q3'23) consolidated financial results, with a record quarterly revenue of AED 9.4 billion, an operating profit of AED AED 3.7 billion, and EBITDA of AED 5.2 billion. For the first nine months, DEWA’s...

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Business & Money | Saturday 11 November, 2023 4:29 am

EDGE acquires 50% stake in Flaris, marking strategic expansion into aviation technology

The UAE’s EDGE Group, one of the world’s leading advanced technology and defence groups, has announced the acquisition of a 50 percent stake in Flaris, a pioneering Polish aviation company specialising in the development of state-of-the-art personal jets.The two companies will also establish a...

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Business & Money | Saturday 11 November, 2023 3:58 am

Insurance benefit expenses reach SAR 10.7 billion in October: GOSI

Saudi Arabia's General Organization for Social Insurance (GOSI) said that total expenses of insurance benefits surpassed SAR 10.7 billion in October.   The compensation of the unemployment insurance scheme (SANED) exceeded SAR 87.2 million in the same month, while the total pensions...

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Business & Money | Saturday 11 November, 2023 1:10 am

Saudi Arabia has ample opportunities with African states: Minister

Saudi Arabia has ample opportunities for cooperation with Arab and African states, especially in the field of mining which is a vital sector for both sides, Bandar Alkhorayef, Minister of Industry and Mineral Resources, said on the sidelines of the Saudi-Arab-African Economic...

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Business & Money | Saturday 11 November, 2023 1:02 am

Successful Conclusion of the Saudi-Arab-African Economic Conference: Strengthening Bonds for a Shared Future

The Saudi-Arab-African Economic Conference reached new heights of collaboration and partnership as it concluded its proceedings with promising ventures and shared commitments. The conference, held on the sidelines of the Saudi African Summit, brought together leaders, decision makers, and officials ...

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Business & Money | Friday 10 November, 2023 6:27 am

Dur Hospitality issues board circular for Taiba acquisition

Dur Hospitality Co. announced issuing the board circular relating to the transaction which has been prepared in accordance with the requirements of Article (39) of the merger and acquisition regulations issued by the board of Capital Market Authority, which includes the opinion of Dur’s board of...

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Business & Money | Friday 10 November, 2023 6:23 am

Taiba issues shareholders' circular, offer documents, timetable for Dur acquisition deal

Taiba Investment Co. announced issuing the shareholders' circular, offer document and timetable to shareholders of Dur Hospitality for the planned acquisition deal, according to a statement to Tadawul.   The Capital Market Authority (CMA) approved, on Nov. 6, Taiba Investments'...

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Business & Money | Friday 10 November, 2023 1:48 am

EIH Ethmar International Holding posts robust Q3 performance with a net profit of AED589 million

EIH Ethmar International Holding PJSC, a leading conglomerate operating across nine diverse industry sectors, has today announced its financial results for the third quarter of the 2023 fiscal year, achieving a net profit of AED589 million, an income of AED730.1 million, and a total asset value of...

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