Business & Money | Sunday 6 August, 2023 8:39 am

IDB Chairman Receives “Best Banker” Award during the First Arab Forum for Banks & Businessmen 2023 in Beirut, Lebanon

The Union of Arab Banks has organized the First Arab Forum for Banks & Businessmen 2023 in Beirut, Lebanon under the high patronage of the Lebanese Minister of Economy Mr. Amine Salam. Gathering key economic sectors and business community figures, the event stood as a promising initiative that...

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Technology & IT | Saturday 5 August, 2023 12:03 pm

MoIAT adopts UAE Pass across all its digital services

The Ministry of Industry and Advanced Technology (MoIAT) has announced that customers and companies must now use UAE Pass to access the ministry’s digital services online and on smartphones.The move supports the government's digital transformation drive and is in line with the objectives of ‘We ...

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Business & Money | Saturday 5 August, 2023 11:57 am

Dubai investments H1 2023 net profit surges 59% to AED 580 million

Dubai Investments, the leading diversified investment company listed on the Dubai Financial Market [DFM], has announced a 59 percent increase in net profit to AED 580 million for the six-month period ended June 30th 2023, as compared to AED 364 million during the corresponding period in 2022.The...

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Environment & Energy | Saturday 5 August, 2023 11:54 am

GLH, UMS sign partnership agreement to establish first factory for green batteries, power generators in Middle East

GL Holding (GLH) announced the signing of a partnership agreement with Urban Mobility Systems (UMS), a leading Dutch company in the green energy sector, to launch a series of renewable energy projects in the UAE, starting with the establishment of a factory specialised in developing and...

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Business & Money | Saturday 5 August, 2023 11:52 am

ADNOC Gas reports revenue of AED 38.9 billion in H1 2023

ADNOC Gas today announced its financial results for the three months and six months ended 30th June, 2023 (Q2 2023) and (H1 2023).The Company’s H1 2023 revenue stood at a AED 38.9 billion (US$10.6 billion) compared to Pro Forma Adjusted Revenue of AED 48.8 billion (US$13.3 billion) in H1 2022,...

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Business & Money | Saturday 5 August, 2023 1:55 am

Nile raises $175 mln in round led by Sanabil Investments, stc

Networking startup Nile raised nearly $175 million in a new round led by Sanabil Investments, a subsidiary of the Public Investment Fund (PIF), and March Capital.   In a statement, the company said the new round witnessed the participation of investors from several companies,...

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Government | Saturday 5 August, 2023 1:48 am

ZATCA calls for submitting 'withholding tax returns' before Aug. 10

The Zakat, Tax and Customs Authority (ZATCA) called on establishments subject to withholding tax in Saudi Arabia to submit their tax returns for July, no later than Aug. 10.   The authority said taxpayers should submit their tax returns as soon as possible through its website, to...

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Government | Saturday 5 August, 2023 1:46 am

Saudi gov't seeks public feedback on draft Hajj services providers law

The Ministry of Hajj and Umrah invited the public to send their feedback on the draft Hajj services providers law via Istitlaa platform.   The ministry stated that the law aims to unify the standards of services provided to pilgrims coming from inside and outside the Kingdom. It is...

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Environment & Energy | Saturday 5 August, 2023 1:42 am

OPEC+ panel keeps oil output policy unchanged

OPEC+ Joint Ministerial Monitoring Committee decided today, Aug. 4, to keep the oil output policy unchanged. The panel confirmed the members' commitment to the declaration of cooperation after reviewing oil production data for May and June 2023. The next meeting is scheduled for Oct....

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Business & Money | Friday 4 August, 2023 4:47 pm

EXIM Bank says 2022 credit facilities total SAR 13.6 bln

The Saudi Export-Import Bank (EXIM Bank) offered SAR 13.58 billion credit facilities in 2022, of which requests for export credit insurance and export financing reached SAR 9 billion and SAR 4.58 billion, respectively. According to the bank's annual report, the total amount of requests...

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