Technology & IT | Monday 13 May, 2024 9:02 am

Expo Centre Sharjah to offer digital payment services for exhibitors, visitors

Expo Centre Sharjah has signed a strategic partnership agreement with Magnati and PayRow Payment, leading digital payment solutions and service providers. The partnership underscores Expo Centre Sharjah's unwavering commitment to boosting digital transformation in the UAE's exhibition and...

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Business & Money | Monday 13 May, 2024 8:56 am

First Mills completes buyback of 300,000 shares for employee share scheme worth SAR 25.4M

First Milling Company (First Mills), a market-leading player in the Kingdom's milling industry, completed the buyback of 300,000 shares (representing 0.54% of its shares) to be allocated for the employee share scheme. According to a statement on Tadawul, the deal is valued at SAR 25.36...

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Business & Money | Monday 13 May, 2024 8:53 am

Al Akaria pens SAR 532.1M deal with Diriyah Gate

Saudi Real Estate Co. (Al Akaria) signed on May 9 a contract worth SAR 532.1 million, inclusive of VAT, with Diriyah Gate Development Authority (DGDA) for the implementation of excavation works for Car Park A, Car Park B, and related works, according to a filing to Tadawul. The contract...

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Business & Money | Monday 13 May, 2024 8:25 am

Al Rajhi Bank completes issuing $1B Sukuk

Al Rajhi Bank completed the issuance of USD-denominated additional tier-1 capital sukuk, totaling $1 billion. In a statement to Tadawul, the bank said the total number of sukuk is 5,000 (based on the minimum denomination and total issue volume), with each sukuk having a nominal value of...

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Business & Money | Sunday 12 May, 2024 12:39 pm

Saudi imports from GCC hit SAR 6.8B in February

Saudi Arabia’s imports from GCC countries rose 19% year-on-year (YoY) to SAR 6.78 billion in February 2024, according to a recent report by the General Authority for Statistics (GASTAT). UAE accounted for 65%, or SAR 4.4 billion of the total Saudi imports, up 16%...

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Business & Money | Sunday 12 May, 2024 12:36 pm

MIS signs 2 contracts worth SAR 167.7M

Al Moammar Information Systems Co. (MIS) signed two contracts worth SAR 167.66 million, including VAT, according to two separate statements to Tadawul. The first contract was signed with Saudi Electricity Co. (SEC) to provide network management, communication, and operation services worth SAR...

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Business & Money | Sunday 12 May, 2024 10:07 am

Aramex doubles net profit in Q1 2024

Aramex today announced its financial results for the first quarter ending 31st March 2024, with net profit nearly doubling, reaching AED47 million, marking two consecutive quarters of strong performance. The net profit margin improved to 3%. In a statement on Friday, the company reported an 8% ...

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Government | Sunday 12 May, 2024 10:04 am

Dubai International Chamber organises 180 meetings between companies from Dubai, Vietnam

Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has concluded its week-long trade mission to Southeast Asia by arranging 180 bilateral business meetings between companies from Dubai and Vietnam. The trade mission was organised as part of...

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Technology & IT | Sunday 12 May, 2024 10:02 am

CABSAT 2024 to highlight latest innovations in media, entertainment sectors

CABSAT 2024, the premier conference for the broadcast, satellite, and content sectors, is slated to revolutionise media and entertainment with its innovative exhibitions and features for participants. The latest edition of CABSAT, taking place from 21st to 23rd May at Dubai World Trade Centre, ...

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Business & Money | Sunday 12 May, 2024 9:58 am

Zain KSA reports revenue of SAR 2.5 billion in Q1 2024

Zain KSA announced the financial results for the first quarter of 2024, with revenue of SAR 2.5 billion, an increase of 4.7% compared to the same period in 2023. Zain KSA reported a net profit of SAR 67 million compared to SAR 1.1 billion in the first quarter of last year. The decline resulted from ...

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