Business & Money | Monday 18 August, 2025 12:49 pm

Saudi Wood Expo returns to Riyadh from 1-3 September unlocking opportunities across the Kingdom’s $1 billion wood and woodworking sector

Saudi Arabia’s booming construction sector, backed by over $1.25 trillion in planned or active projects, is fuelling a sharp rise in demand for wood and woodworking solutions across commercial and residential developments (Source: Knight Frank). With mega and giga projects such as Diriyah,...

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Business & Money | Monday 18 August, 2025 12:00 pm

Nakheel awards AED2.6 billion contract for Bay Villas project in Dubai

Nakheel, a member of Dubai Holding Real Estate, has awarded a contract worth AED2.6 billion to Fibrex Contracting for the construction of the Bay Villas project at the Dubai Islands. Featuring 636 luxury units across five distinct property types, Bay Villas represents Nakheel's newest...

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Business & Money | Monday 18 August, 2025 12:00 pm

Gross banks’ assets reach AED4,878.3 billion at end of May 2025: CBUAE

The Central Bank of the UAE (CBUAE) announced the increase in money supply aggregate M1 by 0.4%, from AED1,011.9 billion at the end of April 2025 to AED1,015.6 billion at the end of May 2025. The increase was due to AED3.4 billion growth in monetary deposits, and AED0.3 billion increase in currency ...

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Technology & IT | Sunday 17 August, 2025 3:45 pm

HONOR Announces Pre-Orders for HONOR Magic V5 in the Saudi Market The all-new foldable sets new benchmarks in design, battery, durability, and AI innovation

HONOR a global leading AI device ecosystem company has officially opened pre-orders for the much-anticipated HONOR Magic V5 across the Middle East and Africa. This announcement follows a successful regional launch event held in Dubai under the theme “Unfold New Possibilities”, which garnered...

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Business & Money | Sunday 17 August, 2025 12:00 pm

Arabian Drilling renews 11 SLB gas rig contracts for 1 year

Arabian Drilling Co. (ADC) extended the contracts for 11 onshore gas drilling rigs with SLB for one year. In a statement to Tadawul, the company said the extension represents 15%-20% of its 2024 revenues. All 11 rigs are currently in operation, and ADC will continue providing drilling...

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Business & Money | Sunday 17 August, 2025 12:00 pm

MASAR signs contract to sell land plot for SAR 145.1M

Umm Al Qura for Development and Construction Co. (MASAR) announced the signing of an agreement to sell a land plot within the Masar Destination development in Makkah for SAR 145.12 million, according to a Tadawul statement. The transaction value excludes real estate transaction tax and any...

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Business & Money | Sunday 17 August, 2025 12:00 pm

Umm Al Qura for Development and Construction Company Announces Signing of Land Sale Agreement to a Real Estate Fund Managed by SEDCO Capital

Umm Al Qura for Development and Construction Company, the owner, developer, and operator of Masar Destination, has announced the sale of a plot of land measuring 2,671.21square meters in Masar Central zone, adjacent to the King Abdullah Mosque project to Jazeel Al-Bina'a Company, the SPV of a...

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Business & Money | Sunday 17 August, 2025 12:00 pm

Cabinet approves digital ID use for non-resident foreigners to own property

The Cabinet approved the use of a digital ID to enable non-Saudi, non-resident foreigners to own property in the Kingdom.The Real Estate General Authority (REGA) will coordinate with the Ministry of Interior, the Saudi Data and Artificial Intelligence Authority (SDAIA), the National Information...

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Business & Money | Sunday 17 August, 2025 12:00 pm

FANR launches Nuclear and Radiation Excellence Award

The Federal Authority for Nuclear Regulation (FANR) has officially launched the Nuclear and Radiation Excellence Award to honour exceptional individuals and organisations advancing the fields of nuclear and radiation across the country. This national platform aims to recognise and celebrate...

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Tourism & Hospitality | Sunday 17 August, 2025 12:00 pm

Air Arabia Abu Dhabi launches seasonal flights to Yekaterinburg, Russia

Air Arabia Abu Dhabi has launched seasonal flights between Abu Dhabi and Yekaterinburg, Russia. The service will operate twice weekly from 27th October 2025 to 27th March 2026, connecting Zayed International Airport and Yekaterinburg’s Koltsovo International Airport. Air Arabia Abu...

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