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

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

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

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

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

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

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 | Monday 16 June, 2025 8:33 am

Almarai signs SAR 1.04B acquisition deal for Ival, Oska owner

Almarai Co. signed an agreement to acquire 100% of the shares of Pure Beverages Industry Co., the owner of Ival and Oska, in a deal valued at SAR 1.04 billion. In a statement to Tadawul, Almarai said Pure Beverages is a leading producer of premium bottled drinking water in Saudi Arabia and the ...

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Business & Money | Monday 16 June, 2025 8:30 am

Tasheel sets up fintech payroll processing firm in Saudi Arabia

United International Holding Co. (Tasheel) finalized the establishment of a new company, named Now Access, with SAR 10 million capital and a total investment of SAR 75 million. The new entity is specialized in providing payroll administration and processing services through fintech in the...

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Business & Money | Monday 16 June, 2025 8:28 am

ProMedEx inks MoU to establish JV in Saudi Arabia

Professional Medical Expertise Co. (ProMedEx) signed a non-binding memorandum of understanding (MoU) with Zhende Medical Co. Ltd and MedSurg FZ-LLC, according to a Tadawul statement. The move aims to establish a joint venture (JV) in Saudi Arabia to manufacture medical supplies and better...

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