Business & Money | Tuesday 30 April, 2024 11:03 am

Alkhorayef signs SAR 1.7B O&M contract with NWC

Alkhorayef Water and Power Technologies Co. (AWPT) signed a long-term operation and maintenance (O&M) contract with National Water Co. (NWC) to develop sewage treatment plants in Al Ahsa, according to a statement to Tadawul.   The contract will extend for 15 years...

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Business & Money | Tuesday 30 April, 2024 10:20 am

RUA AL MADINAH HOLDING SIGNS AGREEMENT WITH HILTON TO OPEN THREE HOTELS AT RUA AL MADINAH PROJECT

Rua Al Madinah Holding has signed an agreement with Hilton to open three hotels comprising of over 1600 keys at Rua Al Madinah mega-project, including Conrad Rua Al Madinah, DoubleTree by Hilton Rua Al Madinah, and Hilton Garden Inn Rua Al Madinah.  Located at the area east of Al Masjid...

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Business & Money | Tuesday 30 April, 2024 9:29 am

ISFD AND ICEI PARTNER TO EMPOWER WOMEN, YOUTH, AND COMMUNITIES IN OIC COUNTRIES

The Islamic Solidarity Fund for Development (ISFD) and the International Center for Entrepreneurship and Innovation (ICEI), signed a Memorandum of Understanding (MoU) to collaborate on promoting economic empowerment and social development in Organization of Islamic Cooperation (OIC) member...

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Business & Money | Tuesday 30 April, 2024 8:00 am

ITFC Signs Multiple Agreements with Member Countries and Strategic Partners

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, commenced the first day of the 49th IsDB Group Annual Meeting with a series of strategic meetings and important signings. Held at the Intercontinental Hotel, Riyadh, the first day of...

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Business & Money | Tuesday 30 April, 2024 7:23 am

ICIEC, JSCB Agrobank, and Standard Chartered Collaborate to Strengthen Uzbek Economy with €150 Million Islamic Financing Initiative

In a landmark move to support the burgeoning Uzbek economy, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah- based multilateral insurer and member of the Islamic Development Bank (IsDB) Group, has entered into a significant cooperation...

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Business & Money | Tuesday 30 April, 2024 1:39 am

Emirates Islamic becomes first Islamic bank in the region to introduce Fractional Sukuk for investors

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has launched Fractional Sukuk, an innovative new product catering to investors. The exclusive offering grants customers access to international Sukuk markets with a minimum investment as low as USD 25,000. The...

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Business & Money | Monday 29 April, 2024 11:06 am

Azizi Developments and Kettle Collective partner for Azizi Venice

Azizi Developments, a leading private developer in the UAE, has announced its partnership with UK-based design studio Kettle Collective for the concept design of twelve buildings in its approximately AED 30 billion mixed-use development, Azizi Venice, located in Dubai South. Founded in...

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Business & Money | Monday 29 April, 2024 10:21 am

Automechanika Riyadh opens tomorrow

Automechanika Riyadh, Saudi Arabia’s leading trade show for the automotive aftermarket, opens tomorrow for its sixth edition. From 30 April to 2 May 2024 at the Riyadh International Convention and Exhibition Centre (RICEC), the event will feature over 340 exhibitors from 26 countries and is...

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Business & Money | Monday 29 April, 2024 10:17 am

Al Rajhi Bank’s financing portfolio grows, NPL coverage hits 175%, says Chairman

Mr. Abdullah bin Sulaiman Al Rajhi, Chairman of the Board of Directors of Al Rajhi Bank, announced today that Al Rajhi Bank has achieved its highest quarterly profits since its founding, with a net income reaching 4,405 million riyals for the first quarter of 2024. This represents an increase of...

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Business & Money | Monday 29 April, 2024 10:10 am

DIFC delivers record 23 percent YoY growth in underwriting volumes, reaching annual $2.6 bn in gross written premiums

Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, has consolidated its position as the principal hub for the (re)insurance industry, with the highest gross written premiums (GWP) recorded in its 20-year history at ...

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