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Oman will stage its first Initial Public Offering (IPO) in three years with Barka Desalination Company (BDC), owner of Oman’s largest operating water desalination plant Barka IWP getting ready to sell 40 per cent of its shares. The 40 per Read more
Saudi Arabia provided Tunisia $200 million in form of credit line to finance the import of Saudi oil byproducts, Tunisian Economy ministry has said. The North African country is grappling with difficult economic situation compounded by the ongoing pandemic that Read more
Gulf Marketing Group, best known as GMG, has availed plans to open 100 stores across Egypt by 2026, as part of its expansion plans in the North African market. The expansion will be carried out within the next five years Read more
The Kuwait Investment Authority has ordered a temporary halt to the creation of new companies and the listing of companies on the country’s stock market, citing the prevailing strained economic environment, reports say. Official sources, Arab News notes, told Al-Anba, Read more
The board of director of Dubai Chambers adopted Thursday a new three-year (2022-2024) with focus on four priorities planning improving the business environment in Dubai, attracting foreign investments and international companies to the emirate, supporting member companies with global expansion Read more
Saudi Railway Company, also known as SAR, has agreed with ride-hailing platform Careem to offer passengers additional transportation services after they arrive at its stations, reports say. The joint venture aims to make it easier and for passengers to travel Read more
UAE’s top public prosecution will sue and investigate any who uses the internet to publish, circulate or spread false news, rumors or misleading information, contrary to the news published by official sources, reports say. Any person found guilty of publishing Read more
The CEO of Dubai-based Emaar Development has resigned after three years in the role, citing personal reasons, Zawya reports. Bader Hareb’s resignation was announced in a stock market statement on Thursday, but no announcement was made regarding his replacement, the Read more
Energy Development Oman, the sultanate’s government-controlled energy company has appointed Mazin Rashid Lamki as CEO, Arab News reports. The company in a Tweeter statement said Rashid will assume office in the first quarter of next year. The new CEO has Read more
A criminal court in Kuwait on Tuesday handed sentences from five to fifteen years in prison to six judges for “bribery, forgery and money laundering”, reports say. In connection with the case, the court acquitted a judge, fined another 5,000 Read more