Government | Thursday 27 July, 2023 11:50 am

PIF and Oman Investment Authority Sign a Memorandum of Understanding To Expand Investment in the Sultanate of Oman

The Public Investment Fund (PIF) announced today that it has signed a Memorandum of Understanding (MoU) with the Oman Investment Authority (OIA). The MoU is intended to expand cooperation and investment between the two entities, enabling new and promising investments in the Sultanate of Oman’s...

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Business & Money | Thursday 27 July, 2023 10:16 am

Azizi Developments partners with German-based Maschinenbau Halberstadt GmbH for Amber and Beachfront

Azizi Developments, a leading private developer in the UAE, has partnered with Maschinenbau Halberstadt GmbH, a renowned German-based, international supplier that manufactures and assembles high-quality, reliable, and environmentally friendly power generating sets, to source top-tier diesel...

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Tourism & Hospitality | Thursday 27 July, 2023 10:12 am

Team Jayco AlUla earns third place in final stage of Tour de France, driving AlUla’s cycling ambition forward

With Tour de France captivating the imagination of cycling enthusiasts all over the world, Team Jayco AlUla has made significant strides in raising awareness of AlUla, the historic oasis city located in the north-west of Saudi Arabia, as a cycling destination of note.  Wrapping up the...

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Business & Money | Thursday 27 July, 2023 9:44 am

NMDC Group doubles first half net profit to AED 881mn

National Marine Dredging Group (ADX: NMDC) has announced a significant surge in its net profit during the first half of 2023, reaching AED 881 million. This remarkable achievement reflects the success of the Group’s geographic expansion strategy and the successful execution of major...

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Business & Money | Thursday 27 July, 2023 9:42 am

CBUAE raises base rate by 25 basis points

The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points – from 5.15 to 5.40 percent, effective from Thursday, 27th July, 2023.This decision was taken following the US Federal Reserve Board’s announcement on...

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Government | Thursday 27 July, 2023 9:35 am

SEC approves second batch of housing subsidy beneficiaries

H.H. Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of Sharjah Executive Council (SEC), chaired on Tuesday, SEC’s meeting in the presence of H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of SEC.During...

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Tourism & Hospitality | Thursday 27 July, 2023 9:30 am

60% of travelers make travel decisions based on influencer content

OMNES Influencers, a global influencer marketing agency and operator of omnesinfluencers.com, announced the launch of its new service for promoting tourism destinations around the world through a network of Arab and International content creators. The launch of the new service was mainly...

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Business & Money | Thursday 27 July, 2023 9:23 am

Saudi Central Bank Makes Decisions on Repo and Reverse Repo Rates

The Saudi Central Bank (SAMA) decided to raise the rate of Repurchase Agreement (Repo) by 25 basis points to 6.00 percent, and the rate of Reverse Repurchase Agreement (Reverse Repo) by 25 basis points to 5.50 percent. These decisions are in line with SAMA’s mandate of preserving monetary...

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Business & Money | Thursday 27 July, 2023 8:37 am

Fed hikes interest rate to highest since 2001

The Federal Reserve raised interest rates by 25 basis points (bps), as widely expected, to the highest level in 22 years.   The Federal Reserve lifted its key interest rate at the range of 5.25% and 5.50%, the Federal Open Market Committee (FOMC) said in its policy...

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Culture & Education | Thursday 27 July, 2023 8:23 am

Ministry of Culture and Youth launches initiative to promote UAE’s modern architectural heritage

The Ministry of Culture and Youth has launched the Modern Architectural Heritage of UAE initiative which aims to recognize and preserve the UAE’s architectural heritage post 1960s and raise awareness about its significance in shaping the country.  Designed with the overarching theme of...

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