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Press Dossier   By Date  17/04/2024
Closing Bell: Saudi benchmark index edges down 1.64% to 12,500
Saudi Arabia’s Tadawul All Share Index shed 207.91 points or 1.64 percent on Tuesday to close at 12,500.43.
ACWA Power secures landmark $80m bridge loan from Bank of China for Uzbekistan projects
Saudi energy giant ACWA Power has secured an $80 million equity bridge loan from the Bank of China for its Uzbekistan initiatives.
Microsoft to invest $1.5bn in UAE-based AI firm G42
Global tech giant Microsoft will invest $1.5 billion in the UAE-based artificial intelligence technology company G42, aiming to offer the latest AI solutions and skilling initiatives.
Dubai’s high-end property sales rise on overseas demand
Sales of homes in Dubai worth $10 million or more rose 6 percent in the first quarter versus last year, an industry report showed on Tuesday, as demand from the international ultra-rich for homes in the emirate showed little sign of abating, according to Reuters.
IMF raises growth forecast for Saudi economy to 6% in 2025
The International Monetary Fund has raised its expectations for Saudi Arabia’s economic growth in 2025 to 6 percent – up from 5.5 percent predicted earlier this year.
Assembly ‘opener’ on April 21
MP Saleh Ashour, the second oldest lawmaker in the National Assembly who will chair the house’s opening session, invited lawmakers on Tuesday to attend the new Assembly’s opener on Sunday, April 21.
UAE grocery store chain Spinneys to float 25% stake on Dubai Financial Market
UAE-based grocery store operator Spinneys 1961 Holding PLC has announced its intention to proceed with an initial public offering on the Dubai Financial Market.
Saudi Fund for Development, St. Kitts and Nevis sign energy loan agreement
Saudi Arabia on Tuesday signed a loan agreement with St. Kitts and Nevis for $40 million to support the Caribbean nation’s energy sector, Saudi Press Agency reported.
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