Business & Money | Wednesday 10 April, 2024 5:26 am

Inbound containers rise 12.5% in March: MAWANI

The Saudi ports reported a 12.48% increase in the number of inbound containers to 265,148 TEUs in March, compared to 235,738 TEUs in the same month last year.   In a statement, the Saudi Ports Authority (MAWANI) said that outbound containers also rose by...

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Business & Money | Tuesday 9 April, 2024 1:52 am

Olayan, Lunate acquire stakes in ICD Brookfield Place

Investment Corporation of Dubai (ICD) and Brookfield Corporation (Brookfield) today announced an agreement with Olayan Financing Company and Lunate for the sale of a 49 percent stake in ICD Brookfield Place (ICDBP), a world-class commercial and retail property located in the Dubai International...

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Business & Money | Tuesday 9 April, 2024 1:38 am

Idle Lands Program says 332M sqm land invoiced in Q1 2024

The Idle Lands Program said that over 332 million square meters (sqm) of land were invoiced in the first and second phases during Q1 2024.   In a statement, the program said it discovered and registered more than 10 sqm of land within the declared areas of cities in the first and...

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Business & Money | Tuesday 9 April, 2024 12:12 am

GAC OKs Hadeed’s acquisition of Rajhi Steel

The General Authority for Competition (GAC) gave the go-ahead for economic concentration between Hadeed and Rajhi Steel.   The approval was made after reviewing Hadeed's request to fully acquire Rajhi Steel, GAC stated on its official X account, noting that the approval was based on...

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Business & Money | Tuesday 9 April, 2024 12:01 am

Saudi Arabia's private equity investments reach $4B in 2023

Saudi Arabia witnessed an increasing interest in private equity investments from 2019 to 2023, MAGNITT said in a recent report. The Kingdom's private equity investments reached a peak of nearly $4 billion in 2023, recording growth for three consecutive years since 2020. Private Equity...

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Business & Money | Monday 8 April, 2024 10:10 pm

International Business Hub Kicks Off at GITEX Africa in May, Organized by BTECH

The Bahrain Technology Companies Society (BTECH) is set to organize theInternational Business Hub at the second edition of GITEX Africa, slated to unfoldfrom May 29 to 31 in Marrakech, Morocco.This global exhibition serves as a platform for technology firms to showcase theirproducts and solution to ...

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Business & Money | Monday 8 April, 2024 6:37 am

ADX, DFM log nine large deals worth AED1.6 billion during Ramadan

The Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) logged nine large direct deals executed on 305.7 million shares worth AED1.6 billion during Ramadan. According to market data, ADX saw the execution of five large direct deals on 243.4 million shares worth AED683.3...

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Business & Money | Monday 8 April, 2024 6:34 am

DEWA’s digital services achieve AED470 million in savings for customers in 2023

Dubai Electricity and Water Authority (DEWA) continuously develops a customer’s journey by utilising digital solutions and AI in all its services and operations.DEWA aims to provide proactive, advanced, seamless, and integrated digital services through shared channels to meet customers’ needs...

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Business & Money | Monday 8 April, 2024 6:26 am

GCCIA mulls new projects to strengthen network: CEO

The Gulf Cooperation Council Interconnection Authority (GCCIA) is studying new projects to strengthen the internal network of the GCC countries and expand connection with Bahrain and Qatar, Al Eqtisadiah newspaper reported, citing CEO Ahmed Al-Ebrahim.   The projects are under study...

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Business & Money | Monday 8 April, 2024 6:23 am

MODON attracts investments worth SAR 14.45B in 2023

The Saudi Authority for Industrial Cities and Technology Zones (MODON) issued its annual report for 2023, which reviews the authority’s key achievements, most prominent works, initiatives and development projects to achieve sustainable industrial development and attract local and foreign...

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