Business & Money | Friday 3 May, 2024 3:38 pm

Ortac International Accounting Opens Dubai Office

Dubai's removal from the gray list in February 2024 further enhances its appeal, increasing operational ease for foreign entities and facilitating global business expansion, the region has become an appealing destination for Turkish enterprises. The surge in foreign trade is underscored by the...

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Business & Money | Friday 3 May, 2024 1:00 pm

NMDC Group reports 112% surge in Q1 2024 net profits

NMDC Group has announced its financial results for the first quarter of 2024 (Q1 2024), reporting a 67% growth in revenues and a 112% surge in net profits compared to the same period last year. In addition, NMDC Group announced the launch of new projects and the commencement of strategic...

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Business & Money | Friday 3 May, 2024 12:58 pm

DFM, SIX forge strategic partnership to market accessibility

Dubai Financial Market (DFM) and SIX, the Swiss Financial Market Infrastructure Group, announced the signing of a collaboration agreement during the second edition of the Capital Market Summit. The partnership underscores a shared commitment to exploring and implementing collaborative...

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Business & Money | Friday 3 May, 2024 12:18 am

WSM inks SAR 2.2M contract with King Abdulaziz Royal Reserve

WSM for Information Technology Co. signed a contract worth SAR 2.2 million (VAT included) to build, develop, and manage a website and mobile application for King Abdulaziz Royal Reserve. In a statement to Tadawul, WSM pointed out that the duration of the contract is 24 months from the...

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Business & Money | Thursday 2 May, 2024 10:12 am

Ministry finances up to 75% of industrial projects: Alkhorayef

Minister of Industry and Mineral Resources, Bandar Alkhorayef, said that the Kingdom provides financing of up to 75% of the value of quality industrial projects. According to the Ministry’s statement, during the meeting organized by the Qatari Businessmen Association in Doha with a number of ...

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Business & Money | Thursday 2 May, 2024 9:33 am

ACWA Power signs SAR 11.4B financing deals to fund 2 projects

ACWA Power Co. signed, on May 1, a senior debt financing deal for Qassim 1 Combined Cycle Power Plant (CCGT) with a capacity of 1,800 MW in Qassim, according to a statement to Tadawul. The SAR 5.69 billion ($1.52 million) financing deal will extend for 28.1 years, and was signed through Qassim ...

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Business & Money | Thursday 2 May, 2024 9:16 am

Zain KSA Signs Sustainability Champions Charter with Ministry of Economy and Planning

Zain KSA, the leading telecommunications and digital services provider in Saudi Arabia, has signed the ‘Sustainability Champions Initiative charter, a pivotal initiative spearheaded by the Ministry of Economy and Planning. The signing ceremony took place during the World Economic Forum's Special...

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Business & Money | Thursday 2 May, 2024 9:11 am

Azizi Developments, Arup partner for Azizi Opera in Venice

Azizi Developments, a leading private developer in the UAE, has announced its partnership with UK-based engineering firm Arup for the spatial planning of Azizi’s Opera, the crown jewel of its approximately AED 30 billion mixed-use development, Azizi Venice, located in Dubai South. Founded in ...

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Business & Money | Thursday 2 May, 2024 9:09 am

ITFC Advances Global Economic Integration through Strategic Partnerships at the 49th IsDB Group Annual Meetings

During the third day of the 49th IsDB Annual Meetings, the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, signed additional agreements and engaged in pivotal partnership discussions with several key OIC member countries and other key...

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Business & Money | Thursday 2 May, 2024 9:01 am

ADNOC, G42 and Presight Partner to Accelerate AI Solutions for the Energy Sector

ADNOC, G42 and Presight AI Holding PLC (‘Presight’), an ADX publicly listed company, today announced a new shareholding structure for AIQ. Under the agreement, Artificial Intelligence (AI) and Big Data Analytics leader Presight will acquire a 51% stake in AIQ with ADNOC retaining a 49%...

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