Business & Money | Monday 30 December, 2024 10:25 am

UAE Aviation Sector: Global awards, ambitious investments bolster leadership

The UAE has solidified its position as one of the world's leading aviation hubs in 2024, given its significant advancements that include increased infrastructure investments, clean energy initiatives, and expanded seating capacity at major airports. The aviation sector's performance reflects...

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Business & Money | Monday 30 December, 2024 10:22 am

ADNEC Group announces collaboration with Tawazun Council as strategic partner for IDEX and NAVDEX 2025

ADNEC Group has announced its collaboration with Tawazun Council as a strategic partner to organise the largest edition of International Defence Exhibition (IDEX) and Naval Defence Exhibition (NAVDEX), which will be held under the patronage of President His Highness Sheikh Mohamed bin Zayed Al...

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Business & Money | Monday 30 December, 2024 10:13 am

SHUAA Capital approves launch of MCB tranches

SHUAA Capital has announced the approval of two Mandatory Convertible Bond (MCB) tranches by its Board of Directors, with a total value of up to AED425.5 million. This marks the final step in SHUAA's capital optimisation journey, reinforcing its strategic focus on delivering value to...

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Business & Money | Monday 30 December, 2024 10:11 am

Saudi Parts Center completes SAR 1.1M deal to supply truck filters

Saudi Parts Center Co.  announced the completion of a deal to supply filters for heavy trucks for a total value of SAR 1.07 million, excluding value-added tax.  In a statement to Tadawul, the company pointed out that the financial impact of the deal will appear in December...

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Business & Money | Monday 30 December, 2024 9:46 am

Alsaif Gallery sells commercial building in Riyadh for SAR 97M, logs SAR 43M capital gain

AlSaif Stores for Development and Investment Co. (Alsaif Gallery) sold a commercial building located in Al-Arid District, Riyadh, for SAR 97 million. In a statement to Tadawul today, Dec. 29, the company said the building spans an area of 4,150.5 square meters. Under the sale deal, the...

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Business & Money | Monday 30 December, 2024 9:43 am

WSM pens deal to acquire Wasltec for SAR 8.5M

WSM Information Technology Co. signed, on Dec. 29, the final acquisition contract (purchase contract) with Tanabw for Information Technology to fully acquire Wasl Technical Information Systems Co. Ltd. (Wasltec) for SAR 8.5 million. In a statement to Tadawul, the company noted that...

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Business & Money | Monday 30 December, 2024 9:39 am

NWC completes the implementation of water networks in Al-Hurrath governorate, Jazan at SR +86m

The National Water Company (NWC), represented by the Southern Cluster, announced the launch of 3 drinking water projects in Al-Hurrath governorate and 26 villages belonging to the governorate. This action is done to meet the increasing demand for water according to the approved schedules....

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Business & Money | Sunday 29 December, 2024 11:44 am

Sharjah Entrepreneurship Festival open nominations for SEFFY Awards 2025

The Sharjah Entrepreneurship Festival (SEF) announced the opening of nominations for the SEFFY Awards 2025, which honours the accomplishments of startup founders and mentors in the UAE and recognises visionaries, enablers, trailblazers, and changemakers. A highlight of the upcoming Sharjah...

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Business & Money | Sunday 29 December, 2024 11:39 am

Air Arabia launches first flight between Ras Al Khaimah, Moscow

Air Arabia has officially launched its first direct flight between Ras Al Khaimah International Airport and Moscow Domodedovo International Airport. The new route will operate three times per week, expanding the airline’s growing network of destinations. A special ceremony was held at...

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Business & Money | Sunday 29 December, 2024 11:34 am

ACWA Power achieves full commercial operation at Uzbekistan power plant

ACWA Power Co. received on Dec. 26 a notification that Sirdarya combined cycle gas turbine (CCGT) achieved full production capacity of 1,500 megawatts. ACWA Power, which holds a 51% stake in Sirdarya CCGT located in Uzbekistan, expects the financial impact of the full operations to...

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