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Outdoor advertising provider, MBC Group-backed Al Arabia kicks off IPO process
Outdoor advertising provider Arabian Contracting Services, partly owned by media giant MBC Group, has issued the prospectus for its planned initial public offering, where it seeks to sell 15 million shares.
This represents 30 percent of…
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Saudi Arabia opens second largest pavilion at Expo 2020 Dubai
Saudi Arabia inaugurated the second largest pavilion at Expo 2020 Dubai, with a total area of 13,059 square meters, under the slogan "An inspiring Saudi vision for a shared future."
Yesterday, Friday, the Advisor at the Saudi Royal…
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The countries producing the most used metal in the world… the absolute dominance of one…
Steel is currently the most widely used metal in the world as well as the most recycled material. Just last year, the year that witnessed the most frightening and restrictive moment of the pandemic, the world collectively produced 1.8…
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ADNOC Drilling jumps over 30% in debut for Abu Dhabi’s largest IPO
ADNOC Drilling shares jumped more than 30 percent as the unit of Abu Dhabi oil giant ADNOC started trading on Sunday after its $1.1 billion initial public offering (IPO), the largest ever on the Abu Dhabi stock market.
ADNOC Drilling,…
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Qatar’s economy grows 4% in Q2 boosted by non-hydrocarbon activities
Qatar's economy grew 4 percent year-on-year in the second quarter, according to official preliminary estimates, fuelled mainly by the non-hydrocarbon sector.
On a quarterly basis, however, gross domestic product (GDP) based on constant…
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Sony buys US game studio to bolster PlayStation consoles
Sony on Thursday added Bluepoint Games to its stable of PlayStation studios, looking to crank out titles for its hot-selling consoles and keep its lead over rival Xbox.
Sony did not disclose financial terms of the deal to acquire…
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Al-Rajhi Capital sees Saudi oil revenues reaching $145bn in 2021
Saudi oil revenues are expected to reach SR545 billion ($145.3 billion) by the end of 2021, while total state revenues could reach SR925 billion, according to a note from Al-Rajhi Capital on the Saudi budget forecast released today.
The…
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Evergrande misses payments to some bondholders
Some of China Evergrande Group’s offshore bondholders have not received interest payment due by the end of Wednesday New York time, two people familiar with the matter told Reuters, with the company missing its second debt obligation this…
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Etihad Rail completes 139-kilometer track linking UAE, Saudi Arabia
Etihad Rail has unveiled a 139-kilometer train track that connects the UAE with Saudi Arabia, as part of its national railway project that spans 1,200 kilometers in total.
The state-owned transport operator said it completed work on the…
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OPEC+ seen sticking to November output plans, despite $80 oil
OPEC+ is likely to stick to an existing deal to add 400,000 barrels per day (bpd) to its output for November when it meets next week, sources said, despite oil hitting a three-year high above $80 a barrel and pressure from consumers for…
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