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SAUDI ARABIA EMARATES BAHRAIN KUWAIT OMAN QATAR

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Press Dossier

By Date

20/03/2023

	Some Dubai flights to be delayed for up to 40 mins; DXB issues advisory Some flights at Dubai International Airport (DXB) Terminal 1 were delayed on Saturday following “a technical issue”.
	Dubai prime property prices cheaper by 80% compared to global cities, even after 2-year rise Prime property prices in Dubai are cheaper by 20 to 80 per cent when compared to major cities such as Monaco, Hong Kong, New York, London, Geneva, Paris, Beijing, Tokyo etc. despite a massive increase in rates during the post-pandemic period
	Empower signs agreement with Sobha Realty Emirates Central Cooling Systems Corporation PJSC (Empower), the world’s largest district cooling services provider, signed an agreement with Sobha Realty, one of UAE’s leading premium real estate developers, to provide environmentally district cooling services to the developer’s mixed-use projects, most notably the Sobha Hartland master community with a capacity of 17,000 refrigeration tons (RT).
	PIF-owned Saudi Real Estate Refinance Co. signs ‘largest-of-its-kind’ deal with Al Rajhi Bank The Saudi Real Estate Refinance Co., wholly owned by the Public Investment Fund, on Sunday signed an agreement with Al Rajhi Bank to refinance more than worth SR5 billion ($1.33 billion) real estate financing portfolio.
	Saudi retail pharmacy chain Nahdi posts $236m profit for 2022 Nahdi Medical Co., one of Saudi Arabia's leading retail pharmacy chains, recorded SR888 million ($236.40 million) in net profit for the fiscal year 2022, recording a 9.3 percent rise over the previous year.
	PIF-owned Saudi Investment Recycling to acquire 60% of Masab Plastic Factory Public Investment Fund-owned Saudi Investment Recycling Co. has signed an agreement to acquire 60 percent of plastic resin manufacturer Masab Plastic Factory Co.
	GCC banks resilient to US banks’ recent distress: Moody’s Banks in the Gulf Cooperation Council region are strongly interlinked with their respective sovereigns and are unexposed to recently failed US banks, stated the global credit rating agency Moody’s.
	Saudi National Bank says its Credit Suisse investment has ‘no impact’ on growth plans or profits Credit Suisse's largest shareholder Saudi National Bank has confirmed there is “no impact” on its growth plans or profitability after the troubled Swiss lender was bought out by UBS.

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SAUDI LAWS

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