Business & Money | Thursday 13 June, 2024 10:19 am

US Fed keeps interest rates unchanged, sees one rate cut in 2024

The US Federal Reserve decided, during its policy meeting held on June 11-12, to hold interest rates steady at a range between 5.25-5.50% for the fourth time since the beginning of this year, keeping them at their highest level in 23 years.   The Federal Open Market Committee...

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Business & Money | Thursday 13 June, 2024 10:17 am

Al Hammadi sells Riyadh land for SAR 124.6M

Al Hammadi Holding Co. completed on June 12, all the procedures for selling the 35,600 square meter (sqm) land plot in Al Rayyan District. The company said in a statement to Tadawul that it received the full price of SAR 124.6 million (not including the real estate transaction tax or the...

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Technology & IT | Thursday 13 June, 2024 10:06 am

On-Device AI Emerges as a Major Industry Trend Spearheaded by HONOR and Apple

The smartphone industry is on the cusp of a revolution, as AI is rapidly transforming the way we interact with our devices. Just yesterday, at its Worldwide Developer Conference (WWDC), Apple unveiled a slew of new AI announcements to embrace on-device AI that protects users’ privacy by...

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Business & Money | Thursday 13 June, 2024 10:05 am

RAKEZ expands business services for clients through exclusive partnership with HRM Recruitment

Ras Al Khaimah Economic Zone (RAKEZ) entered into an exclusive partnership with HRM Recruitment, a manpower outsourcing and HR solutions firm, to enhance support for companies within its business community. The Memorandum of Understanding (MoU) was signed by Ian Hunt, RAKEZ Chief Experience...

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Business & Money | Thursday 13 June, 2024 9:52 am

Moro Hub and SAP in Joint Partnership to Bring Business AI to UAE

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC), has announced a strategic collaboration with SAP, a global leader in enterprise software solutions. This partnership aims to integrate SAP's Business AI capabilities within the Moro Hub Data...

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Business & Money | Thursday 13 June, 2024 9:42 am

AYYAN issues prospectus for SAR 200M rights offering

AYYAN Investment Co. published today, June 11, the prospectus for its capital increase through a SAR 200 million rights offering. The rights issue is aimed at enabling the company to implement its operational plans and supporting its working capital. The company will use the rights...

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Business & Money | Thursday 13 June, 2024 9:35 am

e& enterprise launches a customer service & call center in the KSA

e& enterprise today announced the launch of a new Contact and Customer Experience Centre in Riyadh. Aligned with Saudi Arabia’s Vision 2030, the new facility is designed to take customer experiences to new heights while significantly contributing to the local economy by creating over 1,500...

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Business & Money | Thursday 13 June, 2024 9:19 am

Arada returns to global debt markets with successful closure of 3.5 times oversubscribed $400 million Sukuk

 Arada Developments LLC (“Arada”), rated B1 by Moody’s and B+ by Fitch, has successfully completed the issuance of its second public financing deal, a $400 million Sukuk, which has been listed on the London Stock Exchange and the Nasdaq Dubai. This is the first issuance under Arada’s...

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Business & Money | Thursday 13 June, 2024 9:01 am

Bajaj Allianz Life focuses on enhancing UAE’s customers experience

Bajaj Allianz Life, one of the leaders in private life insurance, commemorates its first anniversary of its representative office in Dubai, UAE. With a customer-first approach and a goal to deliver best-in-class services to Dubai’s Non-Resident Indian (NRI) population, Bajaj Allianz Life...

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Business & Money | Thursday 13 June, 2024 9:00 am

du to launch Hyperscale Cloud and Sovereign AI Services for the UAE Government with Oracle Alloy

du, from Emirates Integrated Telecommunications Company (EITC), today announced it will deploy Oracle Alloy to offer hyperscale cloud and sovereign AI services for the government and public sector entities in the UAE focusing on Dubai and the Northern Emirates. The signing ceremony took place...

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