Environment & Energy | Saturday 5 August, 2023 1:42 am

OPEC+ panel keeps oil output policy unchanged

OPEC+ Joint Ministerial Monitoring Committee decided today, Aug. 4, to keep the oil output policy unchanged. The panel confirmed the members' commitment to the declaration of cooperation after reviewing oil production data for May and June 2023. The next meeting is scheduled for Oct....

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Business & Money | Friday 4 August, 2023 4:47 pm

EXIM Bank says 2022 credit facilities total SAR 13.6 bln

The Saudi Export-Import Bank (EXIM Bank) offered SAR 13.58 billion credit facilities in 2022, of which requests for export credit insurance and export financing reached SAR 9 billion and SAR 4.58 billion, respectively. According to the bank's annual report, the total amount of requests...

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Business & Money | Friday 4 August, 2023 4:40 pm

NHC offers 12,000 residential units via Sakani platform

The National Housing Co. (NHC) offered 12,000 new residential units for reservation via Sakani platform, at competitive prices starting from SAR 350,000.   The move is part of the company's efforts to provide more integrated housing options across the Kingdom, at affordable prices....

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Environment & Energy | Friday 4 August, 2023 4:38 pm

Oil ticks higher, on track for sixth straight weekly gain

Oil prices edged up on Friday, heading for the sixth straight weekly gain, the longest weekly winning streak in more than one year after both Saudi Arabia and Russia extended the voluntary output cut into next month.   OPEC+ Joint Ministerial Monitoring Committee is scheduled to hold ...

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Government | Friday 4 August, 2023 4:36 pm

Commerce Ministry fines 13 car dealerships for law violations

The Ministry of Commerce announced imposing fines on 13 UK, US, Italian, Chinese, and Korean car dealerships for violating the law.   The violations included not supplying an alternative car or financial compensation for the period when the client did not use the car. They also...

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Government | Friday 4 August, 2023 2:30 am

Dubai Customs shares excellence experience with Al Ain Municipality

As part of its commitment to spreading the culture of excellence and sharing experience with other entities, Dubai Customs, represented by the Strategy and Corporate Excellence Department, received a visiting delegation from Al Ain Municipality to learn about the organization’s experience, best...

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Environment & Energy | Friday 4 August, 2023 2:02 am

Energy Ministry launches ‘Taqat Waeda’ Program to support energy sector needs

Saudi Arabia’s Ministry of Energy launched today, Aug. 3, “Taqat Waeda” Program, which aims to attract and provide young national capabilities with the necessary skills to enhance their scientific knowledge, build their practical experience.   The program also aims to prepare...

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Business & Money | Friday 4 August, 2023 1:29 am

EDGE Group Receives High Level Brazilian Marine Corps Delegation

EDGE Group PJSC (EDGE), one of the world’s leading advanced technology and defence groups, hosted a high-ranking delegation from the Brazilian Marine Corps at its headquarters and manufacturing and testing facilities in Abu Dhabi. During the four-day visit, EDGE briefed the delegation on its...

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Business & Money | Friday 4 August, 2023 1:19 am

PROVEN Arabia announces three strategic leadership changes for the group

PROVEN Arabia, a Saudi Arabia-based holding company with a diversified portfolio of corporate brands providing comprehensive solutions for the Middle East market, has revealed three key executive changes as it continues to pursue its new business vision. Hilel Baroud who takes charge as Chief...

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Business & Money | Friday 4 August, 2023 1:14 am

DUBAL Holding, Oriental Copper to manufacture high-quality copper products in UAE

DUBAL Holding, the investment arm of Dubai Government in the commodities, mining, power, energy, and industrial sectors, has signed a Memorandum of Understanding (MoU) with Oriental Copper, a manufacturer of high conductivity copper products in Thailand, to manufacture high-quality copper products...

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