Business & Money | Tuesday 12 January, 2021 11:05 am

FAB issues five-year US$500 million Sukuk

First Abu Dhabi Bank (FAB) has issued the lowest-ever yield on any five-year MENA bank USD issuance with a US$500 million five-year Sukuk issued at MS+90bps (all-in yield of 1.411 percent) through FAB Sukuk Company Limited.The deal is FAB’s first USD benchmark offering and the first Sukuk issue...

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Business & Money | Tuesday 12 January, 2021 10:48 am

Arada records 35% rise in sales during 2020 to reach AED1.75 billion

SHARJAH, 11th January, 2021 (WAM) -- Arada has reported a robust sales performance for 2020, as the developer benefited from a raft of project handovers and the stable Sharjah real estate market to overcome the effects of the pandemic.During a challenging year for the UAE property sector as a...

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Business & Money | Monday 11 January, 2021 9:45 am

MAWANI implements key logistical transformation initiatives despite coronavirus

The Saudi Ports Authority (MAWANI) has to its credit several major accomplishments during the year 2020 by implementing a raft of initiatives in the process of Saudi Arabia’s unhindered transformation into a global logistics center, despite the repercussions of the coronavirus pandemic. In a ...

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Business & Money | Sunday 10 January, 2021 2:33 pm

Emirates NBD introduces contactless identity verification to open new accounts on mobile

 Bank's new TruID digital identity verification solution leverages the power of Near-Field Communication (NFC) technology Customer identification information read electronically from Emirates ID and biometric passport Solution built as part of fintech collaboration with VisionLabs...

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Business & Money | Sunday 10 January, 2021 2:26 pm

tabby, the Region’s Leading Buy Now Pay Later Fintech Raises $23m in one of the Largest Series A Funding Rounds in the Middle East

tabby (tabby.ai), the leading UAE and KSA-based BNPL provider announced that it has raised Series A financing of $23m in debt and equity led by Arbor Ventures and Mubadala Capital, with participation from STV, Raed Ventures, Global Founders Capital, JIMCO, Global Ventures, Venture Souq, Outliers...

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Business & Money | Sunday 10 January, 2021 2:19 pm

ACCIONA completes the construction of the Al Khobar I desalination plant in Saudi Arabia

Al-Khobar 1, built by ACCIONA and owned by Saline Water Conversion Corporation (SWCC), is one of the biggest desalination plants in Saudi Arabia. It will provide a service to 350,000 people ACCIONA has completed the commissioning phase for the plant and is now producing water beyond its...

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Business & Money | Sunday 10 January, 2021 2:13 pm

Saudization of Engineering Jobs in 2021 - Proven Takes the Driver’s Seat to Help Clients

Proven, the leading outsource business services provider in the region, announced services to help its Saudi customers fulfil their engineer’s Saudization requirements. As part of Proven’s Outsourcing (PEO) service, clients can now choose from candidates from a pool of engineers to work...

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Business & Money | Sunday 10 January, 2021 9:09 am

Al Fardan Exchange Partners Up with Eros Now for Its Customers to Start the Year with the Best of Entertainment

Dubai: Al Fardan Exchange has partnered up with Eros Now, one of the most prominent Indian entertainment brands. This partnership aims to reach consumers across the UAE, in which customers get a free one-month subscription for every successful transaction made. Any customer that sends...

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Business & Money | Wednesday 6 January, 2021 2:26 pm

AlRaha AlSafi Food completes acquisition of first milling firm for $540 million

AlRaha AlSafi Food Co, consisting of Almutlaq Group, AlSafi Holding Co., Abunayyan Trading Co. and Essa Al-Ghurair Investment LLC, announced the completion of First Milling Company (MC-1) through the Phase-1 competitive tender of the Saudi flour mills privatisation for $540 million (SAR 2.03...

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Business & Money | Wednesday 6 January, 2021 2:18 pm

DMCC’s Dubai diamond exchange to host six diamond tenders in January 2021

DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – will host six diamond tenders in its Dubai Diamond Exchange, the world’s largest diamond tender facility, in January 2021. This follows a record-breaking tender hosted in December...

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