Business & Money | Sunday 19 January, 2025 9:39 am

Elm signs MoU with Kidana Development Company to streamline collaborative digitalisation efforts

 Elm, a pioneer in digital solutions, signed a memorandum of understanding (MoU) with Kidana Development Company, the major developer of the Holy Sites and wholly owned by the Royal Commission for Makkah City and Holy Sites. The agreement aims to bolster joint efforts in the development and...

More Details

Business & Money | Sunday 19 January, 2025 9:28 am

Bahri signs USD 800 million Murabaha Revolving Credit Facility agreement with Al Rajhi Bank

Bahri, the National Shipping Company of Saudi Arabia and a global leader in shipping and logistics, has signed a Murabaha Revolving Credit Facility agreement of USD 800 Million (equivalent to SAR 3 billion) with Al Rajhi Bank. The move is aimed at supporting and strengthening Bahri’s financial...

More Details

Business & Money | Saturday 18 January, 2025 12:38 pm

Maaden in talks with banks over international bond sale: CEO

Bob Wilt, CEO of Saudi Arabian Mining Co. (Madden), said the company is considering an international bond sale this year to help fund a more than $12 billion investment program through to the end of the decade.   Maaden is already in talks with banks over the potential issuance and...

More Details

Business & Money | Saturday 18 January, 2025 12:33 pm

ACWA Power wins desalination plant project in Azerbaijan

A consortium, including ACWA Power Co. and Turkey's IC Ictas, won a project from the government of Azerbaijan to build a seawater desalination project using reverse osmosis technology in the Caspian Sea.   In a statement, ACWA Power said the project is to establish a facility capable ...

More Details

Business & Money | Saturday 18 January, 2025 12:31 pm

MODON signs deals worth over SAR 2.3B

The Saudi Authority for Industrial Cities and Technology Zones (MODON) signed industrial contracts worth over SAR 2.3 billion during the Future Minerals Forum (FMF).   The agreements aim to empower the mining industries in line with the Kingdom's Vision 2030, which seeks to make the...

More Details

Business & Money | Saturday 18 January, 2025 12:28 pm

Saudi economy expected to grow 3.3% in 2025: IMF

Saudi Arabia’s economy is expected to grow by 3.3% and 4.1% in 2025 and 2026, respectively, a new report released by the International Monetary Fund (IMF) showed. The fund raised the 2025 growth forecasts from 4.6% previously in October due to extending the OPEC+ output reduction...

More Details

Business & Money | Thursday 16 January, 2025 11:00 am

Emirates SkyCargo heads into 2025 with 15% increase in cargo capacity to meet surging global demand

Throughout 2024, the demand for Emirates SkyCargo’s specialist product portfolio, extensive global network and all widebody fleet continued to grow exponentially, with no signs of slowing down. To meet the burgeoning global demand, the airline has wet-leased two additional Boeing 747...

More Details

Business & Money | Thursday 16 January, 2025 10:57 am

EtihadWE, partners unveil major sustainability initiatives at WFES 2025

The World Future Energy Summit (WFES), Etihad Water and Electricity (EtihadWE), with the Ministry of Energy and Infrastructure (MoEI), RAK Municipality, and RAK Public Services Department unveiled a series of ambitious sustainability initiatives, at a joint press conference held today. These...

More Details

Business & Money | Thursday 16 January, 2025 10:54 am

'Sharjah Shopping Promotions' continues to boost retail sales, attract shoppers with thrilling prize draws and competitions

The “Sharjah Shopping Promotions 2024-2025” continues to achieve remarkable success in various shopping malls and retail stores across the emirate's different cities and regions, creating a significant boost in the retail sector. Organised by the Sharjah Chamber of Commerce and Industry...

More Details

Business & Money | Thursday 16 January, 2025 10:49 am

Mansoor bin Mohammed opens 10th edition of Dubai International Project Management Forum

Under the patronage of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, H.H. Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Ports and...

More Details