Business & Money | Sunday 27 April, 2025 9:33 am

UAE Ranks Among Top Emerging Economies in AI Readiness: BCG Study

 The UAE ranks among the top emerging global economies in AI readiness, according to a report titled "GCC AI Pulse: Mapping the Region’s Readiness for an AI-Driven Future" by Boston Consulting Group (BCG). The report, based on BCG’s 2024 AI Maturity Matrix, was a focal point at the Dubai...

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Business & Money | Sunday 27 April, 2025 8:38 am

Balady Poultry inks SAR 433M facilities with Al Rajhi Bank

Balady Poultry Co. signed, on April 24, two Shariah-compliant bank facilities agreements with Al Rajhi Bank for a total of SAR 433 million.   In a statement to Tadawul, the company said that the first agreement is worth SAR 100 million for a period of 12 months....

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Business & Money | Sunday 27 April, 2025 8:38 am

Balady Poultry inks SAR 433M facilities with Al Rajhi Bank

Balady Poultry Co. signed, on April 24, two Shariah-compliant bank facilities agreements with Al Rajhi Bank for a total of SAR 433 million.   In a statement to Tadawul, the company said that the first agreement is worth SAR 100 million for a period of 12 months....

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Business & Money | Saturday 26 April, 2025 8:26 am

PIF's AviLease closes $1.5B revolving credit facility

Aircraft Leasing Co. (AviLease), an aircraft leasing company owned by the Public Investment Fund (PIF), signed a three-year, unsecured revolving credit facility worth $1.5 billion (nearly SAR 5.62 billion).   In a statement, the company said 20 leading global banks participated in...

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Business & Money | Thursday 24 April, 2025 11:09 am

STC Bank to roll out full services in 2025: CEO

STC Bank is planning to launch its full suite of services later in 2025, CEO Nizar Al Tuwaijri told Bloomberg. He added that stc Group has injected $800 million in fresh cash flows into the bank. STC Bank’s current customer base is large enough to require a focus on all segments,...

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Business & Money | Thursday 24 April, 2025 11:06 am

Saudia Group signs deal with Airbus to acquire 20 wide-body aircraft

Saudia Group signed a deal with Airbus to expand its fleet with 20 new wide-body A330neo aircraft, including 10 confirmed aircraft allocated to the Group’s low-cost carrier, flyadeal. According to the company’s statement today, April 24, the agreement was signed at Airbus’ manufacturing...

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Business & Money | Thursday 24 April, 2025 10:55 am

ADNOC Distribution, noon enter strategic partnership to redefine quick-commerce convenience

ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer, today announced that it is entering into a strategic partnership with noon, the Middle East’s leading digital ecosystem, through a Memorandum of Understanding (MoU). As part of this...

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Business & Money | Thursday 24 April, 2025 10:51 am

ADIB's Q1 net profit before tax up by 18% y-o-y to AED 1.9 billion

Abu Dhabi Islamic Bank reported a Q1 2025 net profit before tax of AED 1.9 billion, rising 18% year-on-year, reflecting a strong balance sheet growth, coupled with increased business momentum and a sustained customer growth.Q1 2025 net profit before tax increased 18% compared to Q4 2024, reflecting ...

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Business & Money | Thursday 24 April, 2025 10:46 am

Recognizing the Future of Industry: Extending third edition of Make it in the Emirates Awards Entries

The Ministry of Industry and Advanced Technology (MoIAT) has announced an extension to the submission deadline for the third edition of the Make it in the Emirates Awards. Companies, factories, and individuals across the UAE have until 30 April 2025 to submit their entries for national...

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Business & Money | Thursday 24 April, 2025 10:24 am

Four Agreements Signed in the Presence of Riyadh Governor at SDB's 53rd Anniversary Celebration, Marking the Launch of the “Jada 30”

His Royal Highness Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Region, presided over the Social Development Bank's (SDB) 53rd anniversary celebration on Monday, April 21, 2025, which also marked the official launch of the “Jada 30” initiative at SDB’s headquarters in...

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