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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Business & Money | Sunday 5 May, 2024 12:11 pm

ACWA Power signs $4.85 billion deal for Central Asia’s largest wind farm

On the sidelines of the Tashkent International Investment Forum held under the patronage of His Excellency President Shavkat Mirziyoyev, President of the Republic of Uzbekistan, Saudi-listed ACWA Power, the world’s largest private water desalination company, and a leader in energy transition and...

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Business & Money | Sunday 5 May, 2024 10:35 am

Architectural Evolution: 3D Printing's Impact on Middle Eastern Skylines

Since its inception in the early 1980s, 3D printing has evolved from a niche technology used primarily in research settings to a disruptive force reshaping the real estate industry. This transformation is particularly pronounced in the Middle East, where ambitious architectural projects have become ...

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Business & Money | Sunday 5 May, 2024 9:53 am

Mowasalat Karwa Showcases Sustainable Mobility Innovations at Autonomous e-Mobility Forum

Mowasalat (Karwa) proudly played a prominent role as the Official Transport Partner at the Autonomous e-Mobility Forum, which was organized under the patronage of HE Jassim bin Saif Al Sulaiti, the Minister of Transport, from April 30 - May 2, 2024. The forum served as the perfect stage for the...

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Business & Money | Sunday 5 May, 2024 9:49 am

Dr. Al Hamad: GCC Commercial Arbitration Centre's 30th Anniversary Spotlights Regional Initiatives

Dr. Kamal Al Hamad, the Secretary General of the GCC Commercial Arbitration Centre, has stated that the Centre's upcoming celebration of its thirtieth anniversary will be graced by renowned political, diplomatic, legal, and commercial dignitaries from both governmental and private sectors across...

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Business & Money | Sunday 5 May, 2024 9:35 am

Emirates NBD gears up to accelerate financial innovation at second edition of Dubai FinTech Summit

Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, will be marking its presence, as the Founding Partner and Premium Banking Partner, at the upcoming second edition of Dubai FinTech Summit (DFS), cementing its ongoing commitment to spearheading...

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Business & Money | Sunday 5 May, 2024 9:14 am

Chinese business owners explore investment opportunities in Ras Al Khaimah

A group of 34 Chinese business owners recently visited Ras Al Khaimah to explore the dynamic business environment and investment opportunities within Ras Al Khaimah Economic Zone (RAKEZ). During their visit, the group toured the state-of-the-art facilities of U-PAK and Mabani Steel in...

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Business & Money | Sunday 5 May, 2024 9:09 am

NMDC Group Announces Financial Results for Q1 2024, Reporting 112% Surge in Net Profits

NMDC Group,  a global leader in engineering, procurement, construction, and marine dredging (Abu Dhabi Securities Exchange: NMDC), 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...

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