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Press Dossier   By Date  10/05/2023
UAE: Abu Dhabi Crown Prince approves Dh85.4 billion for residential neighbourhoods
Under the directives of President His Highness Sheikh Mohamed bin Zayed, in his capacity as the Ruler of Abu Dhabi, His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has approved a budget of Dh85.4 billion to develop integrated residential neighbourhoods that will provide up to 76,000 homes and plots of land for citizens over five years.
AIM brings to focus opportunities, challenges of investing in distressed assets, non-performing loans
Investment experts from around the world discussed the opportunities and challenges of investing in distressed assets and non-performing loans (NPLs) at the 12th edition of the The Annual Investment Meeting (AIM), which took place at the Future Room located at the Abu Dhabi National Exhibition Centre.
Saudi Aramco’s Q1 net profit rises 3.75% q-o-q to $32bn
Saudi Arabian Oil Co. reported a net profit of SR119.54 billion ($31.88 billion) in the first quarter of 2023, up 3.75 percent from SR115.22 billion recorded in the previous quarter.
Saudi hospitality sector receives another $399.7m in international investment
Saudi Arabia’s Ministry of Tourism has backed Dublin-based Kerten Hospitality’s “The Collective” initiative to establish projects worth a total investment of SR1.5 billion ($399.7 million).
PIF-owned Saudi Real Estate Refinance Co. receives ‘A-’ classification with stable outlook
The Saudi Real Estate Refinance Co. has received an “A-” classification at the level of global credit and “KsaAAA” at the level of local credit with a stable outlook from the credit rating agency S&P Global.
UAE In-Focus — Dubai Airports expects record 83m passengers in 2023
Dubai Airports, which owns and manages the operation of both Dubai International and Dubai World Central airports, has revised its 2023 forecast upward to 83.6 million passengers, bringing it within “striking distance” of its 2019 annual traffic, said its CEO.
Closing bell: TASI edges up as trading turnover hits $1.63bn
Saudi Arabia’s Tadawul All Share Index edged up 48.89 points, or0.43 percent, to 11,305.28 on Tuesday, driven by favorable market conditions slightly offset by declining energy prices.
Kuwait suspends work, entry visas for Filipinos
Kuwait suspended all types of work and entry visas for Filipinos on Tuesday after the Asian country allegedly violated a bilateral labor agreement with the state, interior ministry sources told Kuwait Times.
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