Business & Money | Sunday 8 October, 2023 9:18 am

GFH Partners acquires $150 mln logistics assets in Saudi Arabia, UAE

GFH Partners completed the acquisition of a diversified logistics and industrial portfolio worth $150 million (nearly SAR 563 million) in Saudi Arabia and the UAE. This portfolio includes a mix of logistics and industrial assets in Saudi Arabia and the UAE. The portfolio comprises...

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Business & Money | Sunday 8 October, 2023 9:02 am

PIF signs MoU to subscribe to new cash shares in Saudi Re via capital hike

Saudi Reinsurance Co. (Saudi Re) signed on Oct. 7 a non-binding memorandum of understanding (MoU) with the Public Investment Fund (PIF), under which the fund will subscribe to new cash shares in the former by way of capital increase while suspending preemptive rights of the current...

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Business & Money | Sunday 8 October, 2023 8:55 am

Ladun subsidiary signs SAR 70.4 mln contract with Amaala for aluminum works

Ladun Investment Co. announced that Built Aluminum Factory (BAFCO), which is owned by its subsidiary Built Industrial Co., signed, on Oct. 5, a 451-day contract worth SAR 70.4 million worth contract with Amaala.   The contract aims at implementing aluminum and facade works at the...

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Business & Money | Sunday 8 October, 2023 8:35 am

Abu Dhabi National Exhibition Centre wins Best Venue Award at C&IT Awards

Abu Dhabi National Exhibition Centre, one of the ADNEC Group’s venues, won the “Best Venue - Rest of World” for 2023 at the International Conference & Incentive Tourism (C&IT) Awards, strengthening its position as one of the most prominent exhibition centres in the world. This came...

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Business & Money | Sunday 8 October, 2023 8:34 am

Dubai Customs Strengthens Partnerships with Courier Companies to Fuel E-commerce Expansion

Dubai Customs recently convened an extensive meeting with courier and express shipping companies, aimed at bolstering the seamless operation of e-commerce activities and solidifying Dubai's position as a global e-commerce epicenter, aligning with the strategic objectives of Dubai's economic agenda. ...

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Business & Money | Saturday 7 October, 2023 6:32 am

MoF, IMF explore latest developments in international monetary and financial systems

The UAE Ministry of Finance (MoF) held a meeting with the International Monetary Fund (IMF) Staff Mission at the Ministry’s headquarters in Abu Dhabi to discuss matters related to government budgets and revenues, overall monetary policies, debt management, tax policies and legislations, and...

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Business & Money | Saturday 7 October, 2023 6:29 am

Preparatory meetings for UMEX and SimTEX 2024 get underway

The Higher Organising Committee of the sixth edition of the Unmanned Systems Exhibition (UMEX) and Simulation and Training Exhibition (SimTEX) and the conference which accompanies them held its first meeting ahead of the launch of the largest edition in the history of the events. UMEX and...

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Business & Money | Saturday 7 October, 2023 6:26 am

FAB issues largest-ever USD tier 2 bond from a UAE Bank

First Abu Dhabi Bank (FAB), UAE's largest bank and one of the world's largest and strongest financial institutions, successfully issued its inaugural USD Tier 2 capital securities on Tuesday, September 26,2023. The USD 1 billion 10.5NC5.5-Year Tier 2 Bond is the largest-ever Tier 2 issuance...

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Business & Money | Saturday 7 October, 2023 6:20 am

Raff Publishing announces exciting license agreement with Disney to elevate Arabic-language children's literary offerings

In an exciting license agreement with Disney, Raff Publishing is set to release 92 Disney stories to the MENA region, including countries such as Saudi Arabia, Egypt, Qatar, Bahrain, Jordan, Kuwait, Lebanon, Oman, and the United Arab Emirates. This marks a significant milestone as Raff...

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Business & Money | Saturday 7 October, 2023 6:12 am

Emirates NBD launches new digital wealth offering with 11,000 instruments across 21 global and local markets

Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has launched a digital wealth platform that allows customers to trade securities and ETFs on both global exchanges such as, Nasdaq, NYSE, and London Stock Exchange and local markets such as, Dubai...

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