Business & Money | Thursday 13 August, 2026 3:45 pm

PIF publishes 2026-2030 strategy document

The Public Investment Fund (PIF) published today, Aug. 12, its strategy document for 2026-2030, which was approved by the fund’s board in mid-April. Under the strategy, PIF will focus on building highly competitive domestic economic ecosystems, enhancing integration across sectors,...

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Business & Money | Thursday 13 August, 2026 12:41 pm

Saudi Arabia among top 10 AI investors: World Bank

Saudi Arabia ranks among the world's top 10 countries for private investment in artificial intelligence (AI), the World Bank said in its World Development Report 2026: Promise of AI Intelligence. The report also identified Saudi Arabia as one of the leading destinations for AI talent in 2025,...

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Business & Money | Thursday 13 August, 2026 12:34 pm

Acwa signs $400M deal to develop desalination plant in Indonesia

ACWA Power (Acwa) signed a joint development agreement with PT GARAM, Indonesia’s state-owned salt producer, to develop the country’s first integrated seawater desalination and industrial salt production facility. The salt production facility will be developed under a build-own-operate...

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Business & Money | Thursday 13 August, 2026 12:05 pm

472 projects worth SAR 233.2B awarded in 2025: SCA

The total value of projects in Saudi Arabia’s construction sector reached about SAR 233.2 billion in 2025, spread across 472 projects, according to the Saudi Contractors Authority’s (SCA) annual report. The total value of projects in Saudi Arabia’s contracting sector reached about SAR...

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Business & Money | Wednesday 12 August, 2026 5:35 pm

ADNIC reports resilient H1 2026 performance with net profit before tax of AED225.1 million

Abu Dhabi National Insurance Company (ADNIC) today announced its financial results for the first half of 2026, reflecting disciplined underwriting, strategic diversification and continued international expansion despite a challenging operating environment. The Group delivered a net profit...

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Business & Money | Wednesday 12 August, 2026 5:31 pm

ADNOC's listed companies deliver $25.3 billion in H1 2026 revenue as major growth projects advance

ADNOC’s listed companies delivered combined revenue of $25.3 billion (AED93.0 billion) in the first half of 2026, while advancing a series of major growth investments that strengthen the earnings outlook across the portfolio. Collectively, ADNOC Distribution, ADNOC Drilling, ADNOC Gas, ADNOC ...

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Business & Money | Wednesday 12 August, 2026 5:29 pm

Ras Al Khaimah real estate transactions reach AED2.89 billion in H1 2026

The Lands and Properties Sector at Ras Al Khaimah Municipality recorded real estate transactions worth around AED2.89 billion from January to June 2026, comprising sales, mortgages and waivers. Data showed that property sales reached AED1.353 billion across 1,274 transactions, while registered ...

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Business & Money | Wednesday 12 August, 2026 5:24 pm

DEWA reports record AED3.33 billion net profit in H1

Dubai Electricity and Water Authority (DEWA) today reported its first-half 2026 consolidated financial results, recording record half-year revenue of AED14.86 billion, EBITDA of AED7.32 billion, operating profit of AED4.07 billion and net profit of AED3.33 billion. Saeed Mohammed Al Tayer,...

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Business & Money | Wednesday 12 August, 2026 5:03 pm

AWPT signs SAR 101.3M contract with NWC

Alkhorayef Water and Power Technologies Co. (AWPT) signed a SAR 101.32 million, excluding VAT, contract with National Water Co. (NWC) to operate and maintain water and wastewater networks in Al Khobar. AWPT had won the 36-month contract in July, and received it with all due signatures on Aug....

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Business & Money | Wednesday 12 August, 2026 4:58 pm

SAB Invest Launches Global Select Equity Fund to Provide Investors with Access to Global Growth Opportunities

SAB Invest today announced the launch of the SAB Invest Global Select Equity Fund, a new open-ended, Shariah-compliant public fund designed to provide investors with access to a concentrated portfolio of exceptional global companies expected to benefit from long-term structural growth trends...

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