Business & Money | Sunday 17 March, 2024 10:50 am

du and Samsung announce three-year partnership to expand business and services

du, from Emirates Integrated Telecommunications Company (EITC), today signed a strategic a Memorandum of Understanding (MoU) with Samsung. This collaboration marks a significant milestone in the companies' relationship, allowing for expansion in the business-to-consumer (B2C) and...

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Business & Money | Sunday 17 March, 2024 10:47 am

Software AG honors The National Real Estate Registration Services company (RER)

Software AG (Frankfurt MDAX: SOW) awarded ‘Excellence in Real Estate services’ to The National Real Estate Registration Services company (RER), the exclusive operator of real estate registration activities in Saudi Arabia. This award recognizes the Registry’s endeavors that improved and...

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Business & Money | Sunday 17 March, 2024 10:39 am

First Mills establishes new subsidiary

First Milling Co. (First Mills) established a wholly owned subsidiary—First Food Supply Co. Ltd.—with the aim of supporting the company’s business growth and strategic goals.   In a statement on Tadawul, First Mills pointed out that the Jeddah-headquartered subsidiary has a...

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Business & Money | Sunday 17 March, 2024 10:26 am

NADEC, United Feed form JV in animal husbandry sector for red meat production

National Agricultural Development Co. (NADEC) and United Feed Co., a subsidiary of Al Muhaidib Group, signed a partnership agreement to establish a joint venture (JV) in the intensive animal husbandry sector for red meat production.   The partnership aims to enhance food security,...

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Business & Money | Saturday 16 March, 2024 6:47 am

DEWA enhances its fruitful cooperation with Cisco

Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), welcomed a high-level delegation from Cisco, headed by Oliver Tuszik, President of Cisco Europe, Middle East, and Africa (EMEA). The visit is in line with DEWA’s keenness to enhance cooperation with major...

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Business & Money | Saturday 16 March, 2024 6:41 am

UAE-US non-oil trade reached $31.4 billion in 2023

Danny E. Sebright, President of the US-UAE Business Council, said that the volume of non-oil trade between the UAE and the United States reached $31.4 billion in 2023, and is expected to continue growing at the same pace in 2024. Sebright added, in statements to the Emirates News Agency (WAM), ...

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Business & Money | Saturday 16 March, 2024 6:38 am

Saudi Cable says unable to publish Q3 2023 financials on time

Saudi Cable Co. announced its inability to disclose its preliminary financial results for the period ended Sept. 30, 2023, within the specified deadline as the auditing process has not been finalized yet.   The financials are expected to be posted on March 17, 2024, according to a...

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Business & Money | Saturday 16 March, 2024 6:36 am

Non-oil activities account for 50% of Saudi GDP

Saudi Arabia's non-oil activities accounted for 50% of GDP in 2023, their highest ever level, based on the Ministry of Economy and Planning’s analysis of data issued by the General Authority for Statistics (GASTAT).   Accordingly, total non-oil economy reached SAR 1.7 trillion at...

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Business & Money | Saturday 16 March, 2024 6:26 am

Air Arabia shareholders approve 20% dividend distribution for FY2023

Air Arabia PJSC shareholders approved the distribution of a 20 percent cash dividend for the financial year ended 31st December, 2023 (FY2023), at the company’s Annual General Meeting (AGM). The dividend, which is equivalent to 20 fils per share, underscores another year of record financial...

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Government | Friday 15 March, 2024 8:35 pm

MoF launches digital public consultation on implementation of Global Minimum Tax in UAE

The UAE Ministry of Finance (MoF) today announced the launch of a digital public consultation to gather the views of relevant stakeholders on the implementation of the Global Minimum Tax (GMT) or Global Anti-Base Erosion Model Rules (Pillar Two) (GloBE Rules) as well as other tax matters in the...

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