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SUBSCRIBER NUMBERS RISE
Saudi investment funds' assets surge to $33bn in Q4
The assets of local and foreign investment funds in the Saudi market totalled SR122.578 billion ($33 billion) at the end of the fourth quarter (Q4) of 2023, marking a 5% growth from the previous quarter.
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6% GROWTH SEEN
IMF further boosts Saudi Arabia’s 2025 growth forecast
The IMF has further strengthened its positive outlook for the Saudi economy by revising its 2025 growth forecast upwards for the second time this year. In its April report, it has raised the expected growth rate to 6%, up from the 5.5% in January 2024.
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CLOUD-BASED SYSTEM
Aldar-Siemens plan 'smart' transformation of Saadiyat Grove
Aldar Properties (Aldar) has announced a partnership with Siemens to make Saadiyat Grove, an integrated mixed-use project under development in the cultural heart of Abu Dhabi, a leading global example of smart urban living.
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INSIGHT
Companies planning to modernise offices to woo top talent
Employers across the globe are planning to invest in the office design and technology to attract top talent with 81% of employers having already or planning to redesign workspaces in the next 24 months, according to a study by Cisco.
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Hassan Allam unit wins Amaala Triple Bay hotel contract
Egyptian builder Hassan Allam said its Saudi unit has secured an additional contract for a hotel in Amaala Triple Bay, situated along the kingdom's west coast. The scope of work includes civil construction, secondary infrastructure and inground service.
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Spinneys to launch IPO; offers 25% of firm's share
Spinneys 1961 Holding, an operator of premium grocery retail supermarkets under the Spinneys, Waitrose and Al Fair brands has announced its intention to proceed with an IPO and to list its ordinary shares on the DFM in Dubai.
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Ewec issues RFPs for 1.5GW Abu Dhabi solar PV project
Emirates Water and Electricity Company (Ewec) has issued request for proposals to all the prequalified developer/consortiums for a 1,500MW solar PV project in Abu Dhabi. Once operational, it will raise Ewec’s total installed solar PV capacity to 5.5GW.
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Every dirham lost to fraud in UAE costs firms AED4.19: study
Businesses in EMEA now bear a cost of fraud that is 3.90 times the face value lost in fraudulent transactions, says LexisNexis Risk Solutions.
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Both humans and tech must evolve as the AI era unfolds
As AI becomes more and more sophisticated, it is imperative that it is figured out how to harness the power of its innovations without opening up to dangerous risks.
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Masdar City plans $1bn investment in critical sectors
Masdar City has revealed that there are projects under the design phase with an investment cost ranging between AED3-4 billion ($817 million - $1 billion) that target key sectors like energy, artificial intelligence, space, life sciences and agriculture.
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Abu Dhabi's Zayed Airport stays fully operational
Zayed International Airport in Abu Dhabi remains fully operational despite recent adverse weather conditions in the country, a Wam news agency report said.
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stc Bahrain seals strategic partnership deal with HPE Aruba
Top telecom services operator stc Bahrain has signed a strategic partnership deal with HPE Aruba Networking as part of its efforts to enhance Wi-Fi and Networking technology offerings in the kingdom.
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OMEGA launches Olympic Games Paris 2024 watches
With the Olympic Games Paris 2024 set to begin in just about 100 days, the Official Timekeeper OMEGA is marking the moment with the launch of a new Speedmaster Chronoscope in the colours of the competition.
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Nissan appoints Thierry Sabbagh as DVP, President KSA
Nissan has announced the appointment of Thierry Sabbagh as Divisional Vice President (DVP), President KSA, Middle East - Nissan, INFINITI, effective April 1, 2024.
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Carbon markets to play ‘critical role in decabonisation’
Carbon Markets will play a critical role in decarbonisation just like financial markets ‘grease the wheels’ of the economy by allocating and pricing capital, says a whitepaper by Investcorp, a leading alternative investment firm.
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Red Sea Global-Warner Bros Discovery join forces on coral reefs
Red Sea Global and Warner Bros. Discovery have partnered to bring forth a film that will underline the importance of combating the impact of climate change on coral reefs. It is set to air on Discovery Channel and discovery+ via stc/Jawwy tv on April 22.
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Tamkeen launches 2nd phase of CIC Programme
Bahrain’s Labour Fund (Tamkeen), in partnership with Bahrain Polytechnic, has announced the launch of the second phase of its Cloud Innovation Centre (CIC) programme.
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Alternative work models key to empowering Saudi women: PwC
Some 52% of Saudi women have had their resumes rejected due to gaps in their careers and that ‘alternative work models’ are key to empowering Saudi Women's return to the workplace, according to a PwC Middle East survey.
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