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Sunday October 25, 2020
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8 , Rabi' al-awwal , 1442
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"BUSINESS"
October 25, 2020
Q3 Saudi-Bahrain trade surges by 43%
MANAMA — Non-oil trade between Saudi Arabia and Bahrain increased 43 percent to $688.4 million during the third quarter of 2020 compared to $481 million during Q3 of 2019. The surge in trade between both countries comes following the ease of restrictions on cargo transit over the King Fahd Causeway back in August.Bilateral commerce between the two nations surged 12 percent past the $2 billion mark during the first three ...
October 25, 2020
SABIC reports Q3 net profit of SR1.09 billion
RIYADH — Saudi Basic Industries Corp (SABIC) reported a net profit of SR1.09 billion [$0.29 billion] was higher than the net loss of SR2.22 billion [$0.59 billion] in the previous quarter and the net profit of SR0.74 billion [$0.20 billion] in the third quarter of 2019.SABIC on Sunday reported its earnings for the third quarter of 2020 with the company’s revenue for the third quarter reaching SR29.30 billion ($ .81 ...
October 25, 2020
4th edition of Huawei ICT Competition opens to aspiring students across Saudi Arabia
RIYADH — With digital technologies becoming the building blocks of Saudi Arabia’s intelligent society — and increasingly important during the COVID-19 pandemic and post-pandemic recovery — Huawei is once again touching on an important driver of the digital transformation journey; nurturing ICT talent. The company is now running the 4th edition of its flagship annual ICT Competition in Saudi Arabia to support the next generation of leaders for an intelligent ...
October 25, 2020
Jadwa Investment launches Nafaqah Waqf Fund with Ministry of Justice
RIYADH — Jadwa Investment, a leading regional investment management and advisory firm, announced Sunday the launch of the Nafaqah Waqf Fund in partnership with the Saudi Ministry of Justice. The focus of this endowment fund will be to support the basic needs of families facing a loss of income due to litigation or instability.Waqf funds in Saudi Arabia enable charitable organizations to manage their endowments professionally through specialized investment managers ...
October 25, 2020
IKEA to enter Oman with megastore at Oman Avenues Mall
ABU DHABI — Sultanate of Oman is all set to welcome its first IKEA megastore at the Oman Avenues Mall, in the heart of the capital city of Muscat. The globally renowned Swedish furniture and home retailer is expected to open doors to the public by the first quarter of 2022.A development agreement between the Al Taher Group, a diversified business group in the Sultanate, who are the developers of ...
October 25, 2020
ADX announces listing of Sawaeed Holding shares on its second market
ABU DHABI — Abu Dhabi Securities Exchange (ADX) announced that Sawaeed Holding has listed its shares on the ADX Second Market, under the symbol SAWAEED, and trading begins on the shares Sunday. The company’s nominal value of share capital is AED51.1 million, with each share having a nominal value of AED1. This is the fourth listing on ADX in 2020.Founded in 2006 by professionals initially specializing in the provision of ...
October 25, 2020
Monshaat, Community Jameel discuss ways to support SMEs in Saudi Arabia
JEDDAH — As part of the mutual continuous efforts to support, develop and promote small and medium enterprises sector, the General Authority for Small and Medium Enterprises (Monshaat) discussed with the Community Jameel ways to address the challenges facing small and medium enterprises to help them adapting to the current conditions imposed by the coronavirus (COVID-19) crisis.The initiative is based on the international best practices and aims at implementing and ...
October 24, 2020
Dubai Crown Prince launches AED500 million economic stimulus package
DUBAI — Under the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed Bin Rashid Al Maktoum, Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, crown prince of Dubai and chairman of the Executive Council of Dubai, launched an AED500 million economic stimulus package to support various business sectors across the economy.The new package brings the total value of stimulus packages introduced by ...
October 24, 2020
Meet on ‘economic impact of COVID-19 on tourism in Arab world’ held
SHARJAH — Saif Mohammed Al-Midfa, the CEO of Expo Centre Sharjah, underlined that the proactive and early recovery efforts made by the UAE’s wise leadership to confront the repercussions of COVID-19 have been an essential factor in the comeback of the tourism, exhibitions, and conferences sector and the acceleration of its recovery.Al-Midfa made the statement during his participation, representing the Expo Centre, in a joint webinar held recently in Madrid, ...
October 24, 2020
LuLu launches World Food Festival across the Kingdom
RIYADH — LuLu, the region’s largest hypermarket chain, is organizing its annual food festival “World Food” across its stores in the KSA from Oct. 21 to Nov. 3, 2020. A celebration of flavors and culture, the two-week festival brings together foodies and shoppers in a gastronomic experience of global cuisines from more than 25 countries, the country’s very first virtual food art competition with “Pancake Challenge”, massive in-store product offers, ...
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