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ITFC, Djibouti sign $90m Murabah deal to secure energy supply
The International Islamic Trade Finance Corp. has signed a $90 million Murabah agreement with Djibouti to secure energy supply through the import of petroleum products.
The International Hydrocarbons Co. of Djibouti, also known as SIHD,…
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Riyadh Air inks deal with Sabre Corp. to enhance operational efficiency
The operational efficiency of Saudi Arabia’s upcoming airline Riyadh Air is poised for improvement with the signing of an agreement with Texas-based Sabre Corp.
Under this deal, the software and technology provider will help the carrier…
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Gulf leaders keen on economic integration: GCC secretary-general
Members of the Gulf Cooperation Council are making strides toward an economically integrated region, said GCC Secretary-General Jassim Al-Budaiwi.
Speaking at the World Governments Summit 2024 in Dubai, Al-Budaiwi emphasized the…
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UAE, Kuwait sign deal to eliminate double taxation
Trading between Kuwait and the UAE is set to get a boost thanks to an agreement aimed at eliminating double taxation on income and curbing tax evasion.
This landmark deal was signed during the 8th Arab Fiscal Forum, which took place on…
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Global government leaders at UAE summit urged to support private business strategies, control AI
Global government leaders have been urged to provide a safe space for the private sector to innovate while regulating the rapid development of artificial intelligence.
The advice and warnings were delivered during sessions held at the…
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Saudi Arabia announces national plan to stimulate urban policies by 2025
Saudi Arabia plans to stimulate urban policies to ensure coordinated services for residents by 2025 as part of its efforts to boost quality of life, says top minister.
Speaking during the opening remarks of the first Global Smart City…
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Islamic Development Bank and Azerbaijan sign financing framework deal
Saudi Arabia’s Islamic Development Bank is set to provide a financing framework for Azerbaijan through a new agreement.
The IsDB and the country’s Ministry of Economy signed a memorandum of understanding to establish a cooperative…
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Red Sea Global closes $522m financing deal with Riyad Bank for luxury hotel
Red Sea Global has secured a SR2 billion ($522 million) financing deal to advance the development of the Four Seasons Hotel on Shura Island in Saudi Arabia.
RSG announced that financial closure with Riyad Bank supports its ongoing joint…
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Saudi Arabia accelerates digital economy growth through Nvidia partnership
Saudi Arabia’s digital economy is poised for further growth following discussions between a top official and a multinational technology company aimed at strengthening their strategic partnership.
The Kingdom’s Minister of Communications…
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Oman’s trade balance registers $17.9bn surplus in November 2023
Oman’s trade balance recorded a surplus of 6.9 billion Omani rials ($17.9 billion) in November 2023, down from 9.5 billion rials in the same period of 2022.
Data from the National Centre for Statistics and Information revealed that…
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