Business & Money | Monday 2 December, 2024 9:39 am

UAE first in region to gain observer status in Eurasian Group to Combat Money Laundering and Terrorism Financing

The United Arab Emirates has officially joined the Eurasian Group on Combating Money Laundering and Terrorist Financing (EAG) as an observer, becoming the first country in the region to achieve this status. This move highlights the UAE's commitment to enhancing regional and global cooperation...

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Business & Money | Monday 2 December, 2024 9:36 am

UAE supplies Japan with 47.8% of its oil imports in October 2024

Japan imported 31.80 million barrels of oil from the UAE in October 2024, accounting for 47.8 percent of its total imports for the month, according to data from the Agency for Natural Resources and Energy under Japan’s Ministry of Economy, Trade and Industry. The data shows that Japan’s...

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Business & Money | Monday 2 December, 2024 9:29 am

Dubai set to host 2nd edition of Japan Kyoto Trade Exhibition in February 2025

MAICO Enterprises Inc., a leading Japanese trade organisation, has announced the details of the Japan Kyoto Trade Exhibition 2025, an annual regular trade exhibition in Dubai aimed to strengthen bilateral trade ties between the UAE and Japan, driving economic growth and innovation in the region.The ...

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Business & Money | Monday 2 December, 2024 9:24 am

Alkhorayef Water bags SAR 58.8M contract from Saudi Water Authority

Alkhorayef Water and Power Technologies Co. (AWPT) was awarded on Nov. 28, a 24-month contract to operate and maintain water treatment plants at Wadi ad-Dawasir, Alsalil, Al Safa in Najran, and Alwajid. The contract from Saudi Water Authority (SWA) is valued at SAR 58.8 million, excluding ...

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Business & Money | Monday 2 December, 2024 9:19 am

Royal order to transform KKESH into non-profit organization

A royal order was issued approving the bylaws of King Khaled Eye Specialist Hospital (KKESH) and transforming it into an independent, non-profit organization under the Royal Commission for Riyadh City. ...

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Business & Money | Monday 2 December, 2024 9:17 am

Alpha Capital and Alkhoyool Alarabia Launch Real Estate Fund to Develop Office Complex in Riyadh

Alpha Capital announced the launch of a private closed-ended real estate fund to develop an upscale office complex in Riyadh. Alkhoyool Alarabia has been appointed as the main developer, entrusted with designing and executing the project to meet the highest standards. In a statement, Alpha...

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Business & Money | Monday 2 December, 2024 9:10 am

Tanmiah unit signs contract to buy SAR 143M factory

Tanmiah Food Co. announced that its subsidiary, Agricultural Development Co., signed a contract with Dajen Poultry Co. to purchase a new primary processing plant and land in Saudi Arabia for SAR 143 million. ...

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Business & Money | Monday 2 December, 2024 8:51 am

Exito's DevOps Summit 2024: Manoeuvring through Low-code/No-code Trend and Future of DevOps.

In Dubai, financial institutions are increasingly adopting LCNC platforms for improved customer experience and operational efficiency. One typical example of this is the introduction of a self-service portal by a major bank that simplified loan applications and management. This change has greatly...

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Business & Money | Monday 2 December, 2024 8:25 am

SMASCO wins SAR 84.8M project from HRSD Ministry

Saudi Manpower Solutions Co.’s (SMASCO) subsidiary, Saudi Logistic Services Co., has been awarded a project by the Ministry of Human Resources and Social Development (HRSD) worth an estimated SAR 84.8 million, including value-added tax. In a statement to Tadawul, SMASCO said the...

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Business & Money | Monday 2 December, 2024 8:24 am

Saudi economy expected to grow 4.7% in 2025, 2026: World Bank

Saudi Arabia’s economy is forecast to grow 4.7% in 2025 and 2026 driven by higher oil output, the World Bank (WB) said in a recent report. The Kingdom’s economy is expected to grow by 1.1% in 2024, supported by robust growth in non-oil activities at 4.6%. WB highlighted that Saudi...

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