Press Dossier   By Date  26/08/2021
Mubadala-partnered consortium acquires 46.9% of $2.5b Korean medical firm
A global consortium, including Abu Dhabi wealth fund Mubadala Investment Company, announced on Wednesday a deal to acquire a significant stake in South Korea’s largest medical aesthetics company with a market cap of $2.5 billion.
Indian rupee gains against dirham, trades at 20.19
The Indian rupee appreciated 13 paise to 74.11 against the US dollar (20.19 versus the UAE dirham) in opening trade on Thursday, tracking a positive trend in the Indian equity market.
KSA ‘being reborn’ as Vision 2030 unleashes $1tn real estate and mega-projects
Almost $1 trillion of real estate and infrastructure projects have been announced across Saudi Arabia since 2016 as the Kingdom’s economy is transformed under Vision 2030, analysis carried out by global property consultant Knight Frank has revealed.
ACWA Power, Aramco consortium obtains $600m financing for Saudi largest solar project: CNBC Arabia
A consortium of ACWA Power, Saudi Aramco, and PIF-owned Badeel, will obtain financing for the 1.5GW Al-Sudair solar scheme of $600 million at 110 basis points (bp) with fees at 150bp, a banking source told CNBC Arabia.
Saudi industrial sector attracts $18.7bn in 7 months, says minister
The Saudi industrial sector attracted investments worth SR70 billion ($18.7 billion) from the beginning of 2021 till the end of July, Bandar Alkhorayef, minister of industry and mineral resources, said in a tweet.
Saudi restoration of international connectivity is key for saving jobs, GDP losses: IATA
The International Air Transport Association (IATA) welcomed measures taken by Saudi Arabia to revive the aviation industry as it battles to save more than a quarter of a million related jobs in the Kingdom amid a downturn in travel due to the pandemic.
UAE banks return on equity hits five-quarter high as impairments drop
The UAE’s 10 largest banks posted a strong rebound in profitability and balance sheet metrics in the second quarter of the year, as economic conditions continued to improve, according to a report by management consultant Alvarez & Marsal.
Kuwait mulls changing public sector working hours: 9:30am – 5pm
Kuwait’s government is carrying out a study to change official working hours in the public sector to start at 9:30 am and end at 5:00 pm, a local daily reported yesterday quoting official sources.
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