Business & Money | Tuesday 17 June, 2025 8:00 am

Riyadh Air places order for 50 Airbus A350-1000 aircraft

Riyadh Air, Saudi Arabia’s new national carrier and a Public Investment Fund (PIF) subsidiary, signed, today, June 16, an order for 50 Airbus A350-1000 aircraft. In a statement issued during the 55th edition of the Paris Air Show, the airline said the agreement includes a firm order for 25...

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Business & Money | Tuesday 17 June, 2025 8:00 am

ASAS Makeen, NHC sign SAR 240M development agreement

ASAS Makeen Real Estate Development Co. signed an agreement with the National Housing Co. (NHC) to develop parts of the Al-Mashriqia project in eastern Riyadh.According to the company’s statement on Tadawul, the 42-month contract is valued at SAR 240 million. The agreement seeks to develop...

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Business & Money | Tuesday 17 June, 2025 8:00 am

CHUBB Arabia gets IA’s nod on capital hike via bonus issue

CHUBB Arabia Cooperative Insurance Co. (CHUBB) received approval from the Insurance Authority (IA) today, June 15, to increase its capital from SAR 300 million to SAR 400 million through a bonus share distribution, according to a statement to Tadawul. On May 21, the board recommended a 33.33%...

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Business & Money | Tuesday 17 June, 2025 8:00 am

Saudi Electricity seeks SAR 3.75B loan: Report

Saudi Electricity Co. is seeking a SAR 3.75 billion ($1 billion) loan to finance new projects, including the expansion of a power plant, Bloomberg reported citing sources. The credit facility, which will carry a five-year tenor, will see the participation of Sumitomo Mitsui Banking Corp....

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Business & Money | Tuesday 17 June, 2025 8:00 am

NWC Completes Qilwah Water Networks Project Worth SAR37+ Million to Support Al-Baha Summer Season

The National Water Company (NWC) announced that its Southern Cluster has completed the implementation of the drinking water pipelines and networks project in Qilwah Governorate, Al-Baha region. The project, which cost over SAR37 million, is set to serve more than 10,000 beneficiaries. Its...

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Business & Money | Tuesday 17 June, 2025 8:00 am

Nakheel awards over AED750 million in contracts for Palm Jebel Ali infrastructure works

Nakheel, part of Dubai Holding Real Estate, has awarded three major contracts, collectively valued at over AED750 million, for infrastructure works on Palm Jebel Ali, which are scheduled for completion in Q4 2026. The contracts, awarded to DBB Contracting LLC, mark a significant milestone in...

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Business & Money | Tuesday 17 June, 2025 8:00 am

DFSA begins engagement with firms selected for its Tokenisation Regulatory Sandbox

The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), today announced the next phase of its Tokenisation Regulatory Sandbox, beginning engagement with firms selected to join its Innovation Testing Licence programme – the...

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Business & Money | Tuesday 17 June, 2025 8:00 am

Dubai International Arbitration Centre partners with Jus Mundi, Jus AI to accelerate AI innovation in arbitration

The Dubai International Arbitration Centre (DIAC) and Jus Mundi announced a groundbreaking AI and innovation partnership aimed at equipping DIAC with Jus AI cutting-edge artificial intelligence tools to streamline its operations and boost efficiency. Under this collaboration, DIAC’s case...

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Business & Money | Tuesday 17 June, 2025 8:00 am

Mohammed bin Rashid: Our goal to grow UAE non-oil foreign trade to AED 4 trillion by 2031 will be achieved within two years

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, affirmed that the UAE, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, continues its remarkable progress across all sectors, with the nation's...

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Business & Money | Tuesday 17 June, 2025 8:00 am

ADNOC Drilling announces appointment of Abdulla Ateya Al Messabi as CEO

ADNOC Drilling Company PJSC (“ADNOC Drilling” or the “Company”) (ADX symbol: ADNOCDRILL / ISIN: AEA007301012) announced today that the Board of Directors has appointed Abdulla Ateya Al Messabi as the new ADNOC Drilling Chief Executive Officer (CEO). Abdulrahman Abdulla Al Seiari, the...

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