Business & Money | Monday 6 January, 2025 10:17 am

Dubai Municipality awards contracts for second phase of Al Mamzar Beach Development Project

In alignment with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai Municipality has awarded contracts for the second phase of Al Mamzar Beach Development Project. This phase focuses on developing the...

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Business & Money | Monday 6 January, 2025 10:14 am

Dubai ranks among world’s top 10 cities in Global Power City Index for second consecutive year

Dubai has been ranked eighth worldwide and first in the Middle East in the Global Power City Index 2024 (GPCI) for the second year in a row. In an annual study released by Japan’s Mori Memorial Foundation, the index highlights Dubai’s role as a leader in innovation, economic dynamism, and...

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Business & Money | Monday 6 January, 2025 10:07 am

NCLE buys land in Riyadh for SAR 14.7M to set up educational complex

National Company for Learning and Education (NCLE) purchased on Jan. 5 land in Ishbiliyah district, Riyadh, for SAR 14.7 million (including real estate transaction tax) to construct and operate an educational complex. In a statement to Tadawul, the company said the 9,025 square meters land was ...

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Tourism & Hospitality | Monday 6 January, 2025 10:05 am

KAIA surpasses 49M passengers in 2024

Jeddah’s King Abdulaziz International Airport (KAIA) recorded more than 49.1 million passengers during 2024, a growth rate of 14% year-on-year (YoY). The airport explained on X account that the total number of flights exceeded 278,000 in 2024, demonstrating an 11% YoY rise. The highest...

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Business & Money | Monday 6 January, 2025 9:57 am

Finance Minister endorses SAR 139B borrowing plan for 2025

Minister of Finance Mohammed Al-Jadaan endorsed the annual borrowing plan for the fiscal year 2025, after it was approved by the National Debt Management Center’s (NDMC) board. The plan outlines key developments in public debt for 2024, local debt market initiatives, and the financing...

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Business & Money | Monday 6 January, 2025 9:47 am

Saudi Sip of Excellence Competition to Recognize Best Brews and Uplift Regional Coffee Sector

The Saudi Coffee Company, wholly owned by the Public Investment Fund (PIF), launches its second annual Saudi Sip of Excellence Competition in partnership with the global nonprofit, Alliance for Coffee Excellence.  Designed to educate, empower, and reward coffee farmers from Saudi...

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Business & Money | Monday 6 January, 2025 9:43 am

NWC started implementing water projects in Makkah at SR +1.6b

The National Water Company (NWC), represented by the Western Cluster, announced that it has started implementing water supply projects in the holy city of Makkah at a cost of more than 1.6 billion Saudi Riyals. These projects are part of NWC’s strategies to develop the infrastructure of the water ...

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Business & Money | Monday 6 January, 2025 7:09 am

NDMC arranges $2.5B revolving credit facility to fund general budget needs

The National Debt Management Center (NDMC) arranged a $2.5 billion (SAR 9.4 billion) Shariah-compliant revolving credit facility to finance the general budget needs. The facility, spanning three years, involved the participation of three regional and international financial...

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Business & Money | Sunday 5 January, 2025 2:16 pm

Ericsson announces new Customer Unit Saudi Arabia under the leadership of Håkan Cervell

Ericsson (NASDAQ: ERIC) has announced a new organizational structure for its operations in the Middle East and Africa (MMEA) region, effective January 1, 2025. As part of this transformation, the Saudi Arabia market will be served under a newly established Customer Unit (CU), led by Håkan Cervell, ...

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Government | Sunday 5 January, 2025 12:32 pm

UAE Government issues Federal Decree-Law to reorganise Civil Defence Authority

The UAE Government has issued a Federal Decree-Law to reorganise the Civil Defence Authority, aiming to enhance the country's readiness to respond to emergencies and disasters while ensuring the highest standards of public safety and protection. This Decree marks a significant step in...

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