Business & Money | Saturday 28 October, 2023 2:21 am

NEW STRATEGIC AGREEMENT BETWEEN ROYAL COMMISSION FOR ALULA AND SAUDIA PRIVATE

The volume and size of private jets travelling to and from AlUla International Airport will be greatly increased thanks to a strategic agreement between the Royal Commission for AlUla (RCU) and the Saudia Private. As part of this new agreement, Saudia Private will take over operations and...

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Business & Money | Saturday 28 October, 2023 2:18 am

ROYAL COMMISSION FOR ALULA STREAMLINES LICENSING THROUGH THIQAH AGREEMENT

In a bid to streamline digital service delivery in AlUla, the Royal Commission for AlUla (RCU) has announced its service agreement with THIQAH, a PIF owned company specialising in smart business solutions, at the seventh edition of the Future Investment Initiative conference in Riyadh. Central to...

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Business & Money | Saturday 28 October, 2023 2:08 am

MAG WINS 8 AWARDS AT THE INTERNATIONAL PROPERTY AWARDS FOR ITS KETURAH RESERVE PROJECT

MAG, one of the leading real estate developers in the UAE, has been bestowed with eight awards at the renowned International Property Awards – Africa and Arabia 2023. These accolades recognise the outstanding Keturah Reserve development, highlighting its distinctive features and design, notably...

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Business & Money | Saturday 28 October, 2023 1:58 am

PIF unveils initiatives to support asset management industry

The Public Investment Fund (PIF) announced two initiatives to support the development of Saudi Arabia’s asset management industry. The announcements, made at PIF’s inaugural Asset Management Forum, included the PIF Managers Gate Platform and the Portfolio Management Development Program.,...

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Business & Money | Friday 27 October, 2023 1:33 am

UAEFTS processed AED10.997 trillion in transactions in 8 months

The total value of fund transfers between the UAE's banks amounted to AED10.997 trillion in the first eight months of the year, up 35.6 % from the same period last year, according to statistics released by the Central Bank of the United Arab Emirates.The transactions are made through the UAE Fund...

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Business & Money | Friday 27 October, 2023 1:25 am

ACWA Power to sign $246 mln financing for Azerbaijan wind project today

ACWA Power expects to sign 20-year, $246 million financing agreements for the wind project in Azerbaijan, which will add 240 megawatts (MW) of energy capacity.    The total investment cost stands at $347 million, of which 71% is non-recourse to the shareholders,...

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Business & Money | Friday 27 October, 2023 12:12 am

NEOM Green Hydrogen Company leadership transition

NEOM Green Hydrogen Company (NGHC) Chairman, Nadhmi Al-Nasr, announced today that following the successful financial close on the world’s largest green hydrogen plant, David Edmondson, CEO of NGHC, will return to Air Products and be succeeded by Wesam Y. Alghamdi. In this planned leadership...

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Business & Money | Thursday 26 October, 2023 1:20 pm

PIF, Pirelli announce JV to set up tire manufacturing facility

The Public Investment Fund (PIF) and Pirelli Tyre S.P.A (Pirelli), a leading global tire manufacturer, announced today, Oct. 26, the signing of a joint venture (JV) agreement to build a tire manufacturing facility in Saudi Arabia.   PIF will hold a 75% stake in the new JV with...

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Business & Money | Thursday 26 October, 2023 1:13 pm

Ahmed bin Saud Al Qasimi inaugurates Ni Met Recycling, marking a milestone in the Emirate’s vision for a circular economy

Sheikh Ahmed bin Saud Al Qasimi, Chairman of Ras Al Khaimah's Public Services Department, inaugurated the state-of-the-art stainless-steel and non-ferrous scrap recycling facility Ni Met Recycling.   Present at the ceremony were Anil Shah, Chairman and Managing Director of Ni Met...

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Business & Money | Thursday 26 October, 2023 11:19 am

Automechanika Dubai 2023 sees 21% year-on-year growth in trade visitors as the event sets new record

Automechanika Dubai, the largest international trade exhibition for the automotive aftermarket industry in the Middle East, has welcomed 52,082 trade visitors during the three-day showcase, which concluded earlier this month. The figure represents a year-on-year increase of 21% in trade...

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