Business & Money | Saturday 30 November, 2024 2:47 pm

Saudi banks among most profitable globally, tapping international markets not an issue: Al-Jadaan

Saudi banks are among the most profitable globally, Minister of Finance, Mohammed Al-Jadaan, said.   He added that Kingdom's banking sector is ranked among the top five strongest banking sectors in the world. This ranking is based on international data and assessments from the...

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Government | Saturday 30 November, 2024 2:46 pm

ZATCA sets criteria for target taxpayers in Wave 18 of e-invoicing

Zakat, Tax and Customs Authority (ZATCA) determined the criteria for selecting the target taxpayers in Wave 18 for implementing the "integration phase" of e-invoicing.   In a statement, the authority clarified that this wave included all taxpayers whose revenues subject to VAT...

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Business & Money | Saturday 30 November, 2024 2:43 pm

Moody's rating reflects PIF's exceptional investment ability: Official

Fahad AlSaif, Head of Global Capital Finance and Investment Strategy and Economic Insights Division at the Public Investment Fund (PIF), said Moody's upgrade of the fund's credit rating reflects its exceptional ability to execute its investment strategy while maintaining robust creditworthiness and ...

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Business & Money | Friday 29 November, 2024 7:26 am

Burj Khalifa's facade gets a dazzling lighting overhaul

Emaar Properties has announced the completion of a revolutionary façade lighting upgrade for Burj Khalifa, the tallest building in the world. This dynamic RGBW lighting system, integrating cutting-edge technology with the building’s architectural artistry, will debut during the UAE’s Eid Al...

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Business & Money | Friday 29 November, 2024 7:24 am

ADAFSA signs strategic partnership with TII address pressing challenges in agricultural sector

The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) announced the signing of a strategic agreement to enhance collaboration with Technology Innovation Institute (TII) during the Global Food Week, held at ADNEC Abu Dhabi from 26 to 28 November. ADAFSA-TII partnership will address...

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Business & Money | Friday 29 November, 2024 7:21 am

DMCC builds web3, AI connectivity with vietnam to unlock $20 billion trade potential

DMCC – the leading international business district that drives the flow of global trade through Dubai – is connecting the Web3 and AI communities across Dubai and Vietnam, underscoring the immense potential for trade and investment in technology-driven sectors following the historic signing of...

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Business & Money | Friday 29 November, 2024 7:19 am

Wizz Air Abu Dhabi launches new route to Varna, Bulgaria

Wizz Air Abu Dhabi has launched a new route to Varna, Bulgaria. The new route reaffirms the airline’s commitment to carrying the flag of ultra-low-cost travel in the region and unlocking an eclectic mix of travel opportunities for both residents and visitors of the UAE. Flights to Varna will ...

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Business & Money | Friday 29 November, 2024 7:15 am

LuLu Retail opens Al Fakhriya store in Saudi Arabia

Lulu Retail Holdings inaugurated its new Al Fakhriya store in Dammam, Saudi Arabia. The Fakhriya store is its 57th location in the Kingdom, the company said in a statement. LuLu continues to work towards its plan to open more than 10 additional stores in Saudi Arabia during 2024, with...

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Business & Money | Friday 29 November, 2024 7:10 am

EFG Hermes Advises on Maarif Education’s Landmark Acquisition of Ibn Khaldoun Education Company in Saudi Arabia

EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that it had advised on Maarif Education’s 100% acquisition of Ibn Khaldoun Education Company (IKEC). This transaction, currently in the post-signing stage, positions...

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Business & Money | Friday 29 November, 2024 7:06 am

Riyadh Cement inks deal with SEC’s unit to build electric transmission station

Riyadh Cement Co. signed an agreement with the National Electricity Transmission Co., a subsidiary of Saudi Electricity Co. (SEC), to implement a project for the construction of an electric transmission substation. The new utility is aimed at providing electrical service to the company's plant ...

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