Business & Money | Sunday 24 March, 2024 9:21 am

Sharjah Islamic Bank provides first Islamic financial facility for Turkiye Wealth Fund

Sharjah Islamic Bank (SIB) and the Turkiye Wealth Fund (TWF) announced the signing of an agreement to provide a Shariah-compliant Murabaha facility worth $100 million USD, for a period of 3 years. This agreement, facilitated by Dogan Investment Bank, marks the first time the Turkish Sovereign...

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Business & Money | Saturday 23 March, 2024 7:09 am

Response Plus Holding net profit surges 68% to AED 49.39 million during 2023

Response Plus Holding PJSC (ADX: RPM) has released its audited financial results for the period ending December 31, 2023. The Group’s net profit surged 68 percent to AED 49.39 million during 2023, compared to AED 29.31 million recorded in the previous year, while the Group’s Revenue...

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Business & Money | Saturday 23 March, 2024 6:59 am

Mai Dubai Receives a Green Certification for Hosting at Moro Hub Green Cloud

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC), presented a Green Certificate to Mai Dubai, the UAE’s leading bottled water company. The Green Certificate was presented to Abraham Kah Chief Executive Offier of Mai Dubai by Mohammed Bin ...

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Business & Money | Saturday 23 March, 2024 6:58 am

ROSHN Supercharges its App with Boxo Partnership

ROSHN Group, the PIF-owned giga-project and Saudi Arabia’s most trusted developer, has heralded a substantial increase in the capabilities of its Superapp through its latest agreement with Boxo, the Singapore-based tech firm. The two companies participated in a signing ceremony at ROSHN HQ, where ...

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Business & Money | Saturday 23 March, 2024 6:56 am

Diriyah Company Signs Ground-breaking Agreement for District Cooling Plant Development

The Diriyah Company has announced a groundbreaking infrastructure agreement with City Cool Cooling Company. The infrastructure agreement includes a district cooling plant and associated distribution network with the ability to deliver a maximum cooling power of 72,500 Tons of Refrigeration (TR)....

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Business & Money | Saturday 23 March, 2024 6:43 am

PwC Middle East and Microsoft launch AI Centre of Excellence dedicated to upskilling Saudi engineering talent

PwC Middle East in Saudi Arabia and Microsoft have announced the launch of an artificial intelligence (AI) Centre of Excellence in Riyadh at LEAP 2024, aimed at upskilling and scaling the AI capabilities of Saudi engineers and researchers. The launch of the centre supports the Kingdom’s community ...

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Business & Money | Saturday 23 March, 2024 6:40 am

Saudi Arabia launches Phase II of Madinah airport expansion project

Prince Salman bin Sultan bin Abdulaziz, Governor of Madinah and Chairman of Al Madinah Region Development Authority, inaugurated Phase II of Prince Mohammad Bin Abdulaziz International Airport's development and expansion project.   The project worth up to SAR 1.2 billion aims to...

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Business & Money | Saturday 23 March, 2024 6:30 am

SAL signs deal with Taiba Airports to develop new air cargo terminal

SAL Saudi Logistics Services Co. and Taiba Airports signed on March 21 a 16-year agreement to establish a new air cargo terminal at Prince Mohammad Bin Abdulaziz International Airport in Madinah.  The deal aims to boost the air cargo capacity at the airport and ensure the provision of...

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Business & Money | Friday 22 March, 2024 7:43 am

Bonyan REIT inks SAR 500M credit facility deal with Alinma Bank

Bonyan REIT Fund inked a Shariah-compliant credit facility deal worth SAR 500 million with Alinma Bank, fund manager Saudi Fransi Capital said in a statement to Tadawul.   The agreement runs for seven years, with margins paid quarterly, beginning with a cash withdrawal for...

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Business & Money | Friday 22 March, 2024 1:50 am

Al Yamuna Densons invests AED 35 million in its facility expansion in Ras Al Khaimah

A leading Indian manufacturer of power cable joining kits, Al Yamuna Densons is expanding its facility in Ras Al Khaimah with an investment of AED 35 million to boost its regional operations. The construction in the Al Hamra Industrial Zone is set to be completed by May, taking the total area to...

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