Business & Money | Monday 1 June, 2026 8:00 am

Dubai RTA digital revenue rises 20.6% to AED5.3 billion in 2025

Dubai’s Roads and Transport Authority (RTA) generated AED5.3 billion in revenue through digital channels in 2025, marking a 20.6 percent increase compared to 2024, reflecting growing adoption of digital services across its operations. Transactions completed through digital channels exceeded...

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Business & Money | Monday 1 June, 2026 8:00 am

DEWA commissions 1,994 11kV substations in 2025

Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), announced that DEWA commissioned 1,994 new 11kV substations in 2025, compared to 1,530 in 2024, representing an increase of more than 30 percent. Al Tayer said DEWA continues to expand and develop its...

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Business & Money | Monday 1 June, 2026 8:00 am

RCMC awards SAR 13.3B urban development projects

The Royal Commission for Makkah City and Holy Sites (RCMC) awarded six urban development sites in Makkah, covering a total area of more than 2.7 million square meters (sqm), with a combined value of SAR 13.3 billion. In a statement published on X, the commission said the projects are part of a ...

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Business & Money | Thursday 28 May, 2026 7:39 am

Saudi Aramco transfers PRefChem ownership to PETRONAS

Saudi Aramco and Petroliam Nasional Berhad (PETRONAS) today signed an agreement for the transfer of Aramco’s equity stakes in Pengerang Refining Company Sdn. Bhd. and Pengerang Petrochemical Company Sdn. Bhd. (collectively, “PRefChem”), located within the Pengerang Integrated Complex,...

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Business & Money | Thursday 28 May, 2026 7:37 am

Saudi Arabia set to launch Riyadh cooling project by 2027

Saudi Arabia is set to begin the Riyadh cooling project next year, to reduce asphalt and wall temperatures by 8-15°C through urban cooling technologies, Al Eqtisadiah newspaper reported.The project is pending completion of studies as well as final approvals. It aims to address heat islands across...

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Business & Money | Thursday 28 May, 2026 7:35 am

GCCIA eyes regional expansions, Arab electricity market

The GCC Interconnection Authority (GCCIA) has expanded from an internal GCC project into a strategic regional interconnection platform studying projects with neighboring countries, CEO Ahmed Al-Ebrahim told the Kuwait TV.GCCIA also acts as a regional coordinator for the Arab Common Electricity ...

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Business & Money | Thursday 28 May, 2026 7:34 am

1.7M pilgrims perform Hajj in 2026: GASTAT

The total number of pilgrims performing Hajj this year reached 1.71 million.According to the General Authority for Statistics (GASTAT), 1.5 million pilgrims arrived from outside the Kingdom, while the number of domestic pilgrims, including Saudi citizens and residents, stood at 160,650.Male...

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Business & Money | Thursday 28 May, 2026 7:31 am

Kingdom Holding, Prince Alwaleed’s combined stake in SpaceX may top $10.6B

Kingdom Holding Co. (KHC) said its combined stake with Prince Alwaleed bin Talal’s private office in SpaceX stands at 0.63%, with the holding valued at $8.32 billion based on a company valuation of about $1.25 trillion.KHC told Asharq Business with Bloomberg that the stake’s value could rise to ...

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Business & Money | Tuesday 26 May, 2026 11:40 am

Why Trading Competitions Are Gaining Momentum in the UAE

The UAE has established itself as a dynamic hub for online trading, driven by sophisticated infrastructure, and growing interest in global markets, from forex and indices to commodities and digital assets. Market participants areseeking effective environments to improve their skills, evaluate...

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Business & Money | Monday 25 May, 2026 9:28 am

Industry Ministry identifies 4 copper, zinc sites for bidding

Saudi Arabia’s Ministry of Industry and Mineral Resources designated four mining sites for copper, zinc, and gold ores to be offered for competitive bidding, with immediate effect. The move was based on Article 19 of the Mining Investment Law, which allows the ministry to designate land or...

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