Business & Money | Thursday 30 May, 2024 9:36 am

Saudi Arabia to launch Aramco’s secondary offering on June 2: Report

Saudi Arabia is set to formally launch a secondary offering of Saudi Aramco on June 2, Bloomberg reported, citing unnamed sources with knowledge of the matter. The government plans to run a book-building process to gather investor orders until June 6. The stock sale has already...

More Details

Business & Money | Thursday 30 May, 2024 9:32 am

Mayar plans SAR 500M convertible sukuk issuance

Mayar Holding Co.’s board of directors recommended on May 29 issuing SAR 500 million worth of sukuk for 24 months. The company aims to finance working capital and capital expansions, Mayar said in a statement to Tadawul. The issuance will be in several tranches, to be determined later...

More Details

Business & Money | Thursday 30 May, 2024 9:27 am

RAKEZ drives innovation and growth at the ‘Make it in the Emirates’ Forum

Ras Al Khaimah Economic Zone (RAKEZ) contributed to the third edition of the Ministry of Industry and Advanced Technology’s (MoIAT) ‘Make it in the Emirates’ Forum, serving as a sponsor, exhibitor and key panel participant. The event, which took place recently at the Abu Dhabi Energy Centre,...

More Details

Business & Money | Thursday 30 May, 2024 9:13 am

Abu Dhabi Securities Exchange Welcomes the Listing of Lunate Capital LLC’s Chimera S&P Japan UCITS ETF “JPANI”

Abu Dhabi Securities Exchange (ADX), one of the fastest growing exchanges in the world, welcomed today the listing of the Chimera S&P Japan UCITS ETF. This marks the first ETF tracking Japanese equities to be launched on ADX. Managed by Abu Dhabi-based investment management firm Lunate Capital...

More Details

Business & Money | Thursday 30 May, 2024 7:24 am

Nearly half of employees in the MENA region are considering entrepreneurship

The Entrepreneurship in the Middle East and North Africa 2024 survey, conducted by Bayt.com, the Middle East's leading job site, and market research agency YouGov, revealed that there's a notable inclination towards entrepreneurship in the region. Out of the 1090 people surveyed, 517 are currently...

More Details

Business & Money | Wednesday 29 May, 2024 12:32 pm

Sharjah SME Ruwad attracts 109 new projects in Q1 2024

Sharjah SME Ruwad, affiliated with the Sharjah Department of Economic Development (SEDD), announced that 109 new projects have joined its membership during the first quarter of 2024, while it approved financing two pilot projects with a total value of AED550,000. The results of the quarterly...

More Details

Business & Money | Wednesday 29 May, 2024 12:16 pm

Abu Dhabi Exports Office showcases financial solutions at 'Make it in the Emirates Forum'

Mohamed Saif Al Suwaidi, Director-General of the Abu Dhabi Fund for Development and Chairman of the Executive Committee of the Abu Dhabi Exports Office, emphasised that the office is leveraging all available resources and financing to support UAE companies. This effort aims to facilitate the global ...

More Details

Business & Money | Wednesday 29 May, 2024 12:07 pm

Dubai Industrial City launches 13.9 million sq.ft. expansion to strengthen UAE manufacturing sector

Dubai Industrial City has officially launched 13.9 million sq.ft. of additional land capacity within its ecosystem. The additional land capacity at Dubai Industrial City, part of TECOM Group PJSC, was acquired through a AED410 million transaction that aims to champion and strengthen local...

More Details

Business & Money | Wednesday 29 May, 2024 11:54 am

Sure inks SAR 13.9M supply chain development contract with Commerce Ministry

Sure Global Tech Co. signed a contract worth SAR 13.86 million (VAT inclusive) for a project to diversify and develop commodity supply chains with the Ministry of Commerce, in cooperation with the General Authority of Foreign Trade (GAFT), according to a statement to Tadawul. Under the...

More Details

Business & Money | Wednesday 29 May, 2024 11:50 am

GAS signs 2 contracts worth SAR 761M with Aramco

GAS Arabian Services Co. (GAS) signed on May 29 two contracts with Saudi Arabian Oil Co. (Saudi Aramco) at a total value of SAR 761 million. In separate statements to Tadawul, GAS said the first engineering, procurement and construction (EPC) contract is for work on the Master Gas System...

More Details