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6161 - 6170 from 16542 . In "BUSINESS"
Derayah Real Estate Income Fund III closes successfully
RIYADH — Derayah Financial, a leading investment company licensed by the Capital Market Authority, has announced the closing of Derayah Real Estate Income Fund III (REIF III). The Fund invests in a number of real estate assets in in Saudi Arabia with a total asset of SR580 million.The Shariah-compliant close-ended real estate private fund acquired income-generating real estate assets across different sectors in four Saudi cities."Our real estate income funds are designed to acquire existing leased properties that generate good income to our investors," said Mohammed Al-Shammasi, Chief Executive Officer of Derayah Financial. "Our professional team of experts carefully examines opportunities and delivers the right financial structure to ensure the best returns on investment...
September 01, 2019

Derayah Real Estate Income Fund III closes successfully

Badir Program to launch the first agriculture-tech hackathon in Saudi Arabia
RIYADH — King Abdul Aziz City for Science and Technology (KACST), represented by the Badir Program for Technology Incubators and Accelerators, and in collaboration with Faisal bin Mishal bin Saud bin Abdulaziz Community “Mojtamae”, will launch the first agricultural hackathon in the Kingdom of Saudi Arabia in September.The agricultural sector is one of the main pillars for supporting the Vision 2030, as the sector contributes to the provision of 25 percent of all food available for consumption, SR53 billion to the gross domestic product (equivalent to 4 percent of the non-oil GDP), and employs 450,000 people across the various regions of the Kingdom.The "Agricultural Techniques Hackathon" will be held on September 26-28, 2019 in the Al-Qassim region and is open for...
September 01, 2019

Badir Program to launch the first agriculture-tech hackathon in Saudi Arabia

tariff
Next tariffs on Chinese goods to hit consumers
NEW YORK — US President Donald Trump's next round of tariffs on Chinese imports is scheduled to take effect starting on Sunday, escalating the trade war between the world's two largest economies with a big hit to consumer goods.Trump has targeted some $300 billion in annual goods imports from China for 15% tariffs in two parts, on Sept. 1 and Dec. 15. If fully imposed, virtually all Chinese imports - worth about $550 billion - would be subject to punitive US tariffs imposed since July 2018.Here is a look at US tariffs and expected Chinese retaliation scheduled over the next several months.The US Customs and Border Protection agency will begin collecting tariffs for Chinese goods at 12:01 a.m. EDT (0401 GMT) on Sunday. Guidance issued on Friday indicated that there will not be a...
August 31, 2019

Next tariffs on Chinese goods to hit consumers



Businessmen from United Arab Emirates attend the annual Damascus International Trade Fair, Syria. — Reuters
UAE firms scout trade at Syria fair
DAMASCUS — A delegation of at least 40 businessmen from the United Arab Emirates attended a state-backed trade fair in Syria's capital, defying US warnings against doing business with the government and associates of President Bashar Al-Assad.The UAE, one of Washington's main regional allies, has started to forge closer ties with Damascus to counter the influence of its rivals Iran and Turkey. In December, it reopened its embassy there, angering Washington.Representatives attended from companies such as construction firm Arabtec Holding, and other investment firms headed by prominent Emirati businessmen, as well as members of the chambers of commerce, delegates said.The delegates left Damascus on Thursday and Friday.During the war, the UAE did support armed groups opposed to...
August 31, 2019

UAE firms scout trade at Syria fair

Strong consumer spending propping up US economy
WASHINGTON — US consumer spending increased solidly in July as households bought a range of goods and services, which could further allay financial market fears of a recession, but the strong pace of consumption is unlikely to be sustained amid tepid income gains.The report from the Commerce Department on Friday added to July trade and inventory data in suggesting that while the economy was slowing, it was not losing altitude rapidly for now. But risks to the longest economic expansion in history are mounting, mostly from a year-long trade war between the United States and China.The trade fight between the two economic giants has spooked financial markets and caused an inversion of the US yield curve, which has stoked fears that the economic expansion now in its 11th year is in danger of...
August 31, 2019

Strong consumer spending propping up US economy

stocks
Stock markets get lift from fresh trade hopes
LONDON — Renewed hopes for trade talks kept stock markets mostly in the black Friday after China said it would not retaliate against the latest US tariffs, setting up a positive end to a volatile week.New trade optimism helped alleviate gloom about predictions for a coming slowdown in the world economy, analysts said."We may be facing up to the reality of recession but optimism continues to flow through the veins of investors following comments from the Chinese Commerce Ministry on Thursday," said Craig Erlam, senior market analyst at Oanda trading group.The easing tensions helped China's yuan strengthen slightly against the dollar, having fallen to an 11-year low earlier in the week.Key European equity markets were higher at the close, but Milan fell after Italy's...
August 31, 2019

Stock markets get lift from fresh trade hopes

Hossam El-Masry
GSCCO taps Nutanix as container volumes at Saudi ports rise
RIYADH – Nutanix, a leader in enterprise cloud computing, last Thursday announced that the Gulf Stevedoring Contracting Company (GSCCO), a port operator in the Kingdom of Saudi Arabia, is leveraging Nutanix software to increase IT capacity to support growing operations across Saudi port facilities while also reducing IT management overhead. This includes successfully accommodating a 50% spike in container volumes with no impact on operational efficiency.As the organization responsible for the management of three major port container and bulk terminals in Saudi Arabia, GSCCO is fully committed to supporting the government’s Saudi Vision 2030 agenda for economic diversification. Scalable, reliable and easy to manage IT systems are recognized as key to delivering this agenda. This has...
August 31, 2019

GSCCO taps Nutanix as container volumes at Saudi ports rise

Dr Ibrahim Ashmawy, Deputy Minister of Internal Trade and Chairman of Internal Trade Development Authority (ITDA) of Egypt; Enf Tarek El Sebaiy, Deputy Minister of Housing signing the agreement with Yusuff Ali, Chairman of UAE’s Lulu Group International in the presence of Mostafa Madbouly, Prime Minister of Egypt along with Minister of Supply and Internal Trade Ali Al-Meselhi, and Minister of Housing, Utilities and Urban Communities Assem Al-Gazzar at the cabinet HQs in Cairo
LuLu Group to inject $500m investments into Egypt
CAIRO – The Ministry of Supply and Internal Trade and the Ministry of Housing, Utilities and Urban Communities of Egypt signed on an agreement with UAE's LuLu Group to establish new hypermarkets in differing parts of Cairo.On behalf of Egyptian government, Dr Ibrahim Ashmawy, Deputy Minister of Internal Trade and Chairman of Internal Trade Development Authority (ITDA) of Egypt, Enf Tarek El Sebaiy, Deputy Minister of Housing signed the agreement with Yusuff Ali, Chairman of UAE’s LuLu Group International in the presence of Mostafa Madbouly, Prime Minister of Egypt along with Minister of Supply and Internal Trade Ali al-Meselhi, and Minister of Housing, Utilities and Urban Communities Assem Al-Gazzar at the cabinet HQ in Cairo.Under these contracts, four projects will be built by...
August 31, 2019

LuLu Group to inject $500m investments into Egypt

Nuami sheep
EuroTier Middle East to kick off tomorrow in Abu Dhabi
ABU DHABI — The inaugural edition of EuroTier Middle East, the world’s leading trade show for animal husbandry and livestock management, will kick off on September 2 at the Abu Dhabi National Exhibition Centre (ADNEC) under the patronage of Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of Abu Dhabi Agriculture and Food Safety Authority.Held in strategic partnership with Abu Dhabi Agriculture and Food Safety Authority, EuroTier Middle East seeks to enrich the knowledge, build the capacities and enhance the skills of local animal farmers through introducing them to international best practices and latest technologies.Set to run until September 4, 2019, the event is expected to attract more than 5,000 visitors from across the...
August 31, 2019

EuroTier Middle East to kick off tomorrow in Abu Dhabi

IMG_4005(1)
HP’s gaming line-up now available in Saudi Arabia
RIYADH — Making its regional debut, HP Inc. showcased a powerful line-up of its latest OMEN and Pavilion Gaming innovations, raising the bar for high performance gaming. Invited to a hands-on experience of the company’s full range of gaming products, gamers, influencers and partners gathered at a warehouse in Al Quoz in Dubai, UAE.Commenting about the full OMEN range, Narayanan Venkataraman, Managing Director, Saudi Arabia at HP Inc. said “The expansion of our gaming portfolio serves as testimony of our continuous commitment to the gaming community. With the growth of the gaming industry in the region, we have recognized that gamers have an increased appetite for more powerful and innovative products. With that in mind, we have introduced a much stronger line-up of laptops,...
August 31, 2019

HP’s gaming line-up now available in Saudi Arabia

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