Business & Money | Friday 20 October, 2023 8:54 am

Gold prices rallied today, reaching their highest levels in two and a half months

Gold prices rose during today's trading, gaining more than US$4 in spot trading to approach its highest levels in two and a half months. As of 12:06 p.m. UAE time, the yellow metal rose 0.22 percent or $4.4 to reach $1,952.07 per ounce. In contrast, gold futures for December 2023 fell...

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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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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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Business & Money | Friday 20 October, 2023 1:10 am

The World will gather in Riyadh in December to discuss the future and challenges of the labor market

The Ministry of Human Resources and Social Development of the Kingdom of Saudi Arabia is launching the first annual Global Labor Market Conference (GLMC). GLMC will be held on December 13 – 14, 2023, with the aim of advancing labor market resiliency for all stakeholders. The conference's...

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Business & Money | Friday 20 October, 2023 12:15 am

TDRA and du join forces to promote Emiratization within Cloud Managed Services through FEDNET Cloud Command Center (CCC)

TDRA (Telecommunications and Digital Government Regulatory Authority) and du, from Emirates Integrated Telecommunications Company (EITC), today announced a partnership at GITEX Global 2023 to expand the FEDNET Cloud Command Center (CCC) as part of a strategic initiative to promote Emiratization....

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Business & Money | Thursday 19 October, 2023 1:47 pm

"Jazeera Paints" Participates in the Digital Transformation at GITEX Global Exhibition

“Jazeera Paints”, the leading company in the industry of paints, colors and construction solutions in KSA and MENA, shares an elite group of promising technical expertise in the digital transformation field in GITEX Global Exhibition, which is currently running for five days at Dubai Global...

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Business & Money | Thursday 19 October, 2023 1:43 pm

Saudi Exports and Amazon Collaborate to Launch ‘Saudi Made’ Storefront on Amazon.sa

Amazon Saudi Arabia today launched a 'Saudi Made' storefront on Amazon.sa, featuring thousands of local products certified by the ‘Made in Saudi’ (MIS) program. Aligning with the Kingdom’s Vision 2030, the dedicated storefront promotes locally manufactured products to millions of Amazon...

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