Business & Money | Tuesday 7 May, 2024 2:12 pm

Emirates NBD and Nium join forces to transform global cross-border payments in the Middle East

Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region and Nium, a global leader in real-time in cross-border payments have announced a strategic alliance to empower customers with a cutting-edge remittance solution and redefine the financial services...

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Business & Money | Tuesday 7 May, 2024 1:12 pm

Budget deficit ‘intended’; management is govt priority: Al-Jadaan

Saudi Arabia’s budget deficit was “intended”, and the government understands the concerns about its potential impact on the economy, Mohammed Al-Jadaan, Minister of Finance, told Al-Eqtisadiah newspaper.   Managing the budget deficit is one of the government's priorities,...

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Business & Money | Tuesday 7 May, 2024 12:08 pm

UAE Ministry of Finance Meets with IMF Article IV Consultation Mission

His Excellency Younis Haji Al Khoori, Undersecretary of the UAE Ministry of Finance, today met with the International Monetary Fund (IMF) Article IV consultation mission, at the Ministry’s headquarters in Abu Dhabi. The meeting was attended by Ali Abdullah Sharafi, Acting Assistant...

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Business & Money | Monday 6 May, 2024 8:58 am

Dar Wa Emaar Joins Lumofy's Growing Client Base to Bring Advanced Skill-Building Opportunities

Lumofy, a leading provider of talent management solutions, is thrilled to announce that Dar Wa Emaar, one of the premier real estate companies in Saudi Arabia, has joined Lumofy’s growing customer base. This collaboration marks a significant step forward for both organizations. Lumofy's...

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Business & Money | Monday 6 May, 2024 8:52 am

Islamic Development Bank, Abu Dhabi Fund for Development, the Bill & Melinda Gates Foundation & Partners Pledge New Support of US$ 219 million to the Lives and Livelihoods Fund

The city of Riyadh, the capital of the Kingdom of Saudi Arabia, has seen the announcement by four global development partners jointly announced an additional US$ 219 million in donor support for total 37 projects in 22 IsDB member countries through the Lives and Livelihoods Fund 2.0 (LLF 2.0). The...

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Business & Money | Monday 6 May, 2024 8:29 am

ACRES Real Estate Exhibition to spotlight 120 projects on 16th May

The Organising Committee of the ACRES Real Estate Exhibition declared the completion of its preparations for the inaugural edition launch in Dubai, set to debut this year from 16th to 19th May at the Dubai World Trade Centre. Spanning over an area of 6000 square meters, ACRES has successfully...

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Business & Money | Monday 6 May, 2024 8:21 am

Saudi Electricity achieves financial closure for Qassim 1 and Taiba 1 at SAR 11.4B

Saudi Electricity Co. (SEC) achieved financial closure for Qassim 1 and Taiba 1 independent power projects (IPPs) at a total value of SAR 11.4 billion ($3.04). According to the Saudi Press Agency, the financing agreements were signed by the project companies, Sidra One Co. for the...

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Business & Money | Monday 6 May, 2024 8:18 am

NHC, China's CITIC to establish industrial city, logistics zones in Saudi Arabia

The National Housing Co. (NHC) signed a cooperation agreement with China's CITIC Construction Group to establish an industrial city and logistics zones for building materials, Saudi Press Agency reported. In a statement, NHC said the project will include 12 factories to secure supply chains...

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Business & Money | Monday 6 May, 2024 7:45 am

ADES wins new contract worth SAR 161M in Egypt

ADES Holding Co. received a direct award contract (DAC) from Suez Oil Co. (SUCO) in Egypt, on May 2, for jack-up drilling rig in the Gulf of Suez, at a total value of SAR 161 million. In a statement to Tadawul, the company said that the 21-month contract is...

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Business & Money | Monday 6 May, 2024 6:25 am

AviLease completes delivery of four new A321neo aircraft to Frontier Airlines

AviLease, the rising global aircraft lessor wholly owned by PIF, Saudi Arabia’s sovereign wealth fund, has successfully delivered four Airbus A321neo aircraft on lease to Colorado-based low cost operator Frontier Airlines. These are the first of six next generation aircraft that will be delivered ...

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