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UAE, Gulf investors take profits ahead of first-quarter results season

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Key indices are in retreat as investors sit out the days before the new earnings season starts in earnest. Image Credit: Virendra Saklani/Gulf News Saudi Arabian stocks extended their losses under selling pressure from banking blue-chips, while other GCC markets put on a lackluster performance ahead of first quarter earnings in the coming days. Saudi Arabian benchmark[…]

UAE HR firm Reach acquires Saudi counterpart, taps $20m from NBK Capital Partners

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Dubai: A Dubai-based HR consultancy Reach Group is acquiring a Saudi outsourcing firm, and financing it through a $20 million facility from DIFC-headquartered NBK Capital Partners. Reach focuses on supplying skilled and semi-skilled employees to government and quasi-government entities and private sector companies. The company has close to 6,000 outsourced full-time employees, making it one of[…]

Major Gulf markets end mixed; financials weigh on Saudi

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(Reuters) – Major stock markets in the Gulf ended mixed on Sunday, with the Saudi index pressured by financial shares amid falling oil prices, while Dubai was supported by property stocks. FILE PHOTO: A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018. REUTERS/Faisal[…]

Emaar Properties approves dividend distribution, 10% of share capital

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Emaar properties Image Credit: Clint Egbert/Gulf News Dubai: Dubai developer Emaar Properties will distribute a cash dividend representing 10 per cent of the share capital, upon a proposal by its board of directors. The general body of Emaar Properties approved the dividend distribution proposal at its 25th annual ordinary meeting on Sunday. A new nine-member board[…]

UAE investors trade cautiously ahead of results

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Abu Dhabi and Dubai stocks moved little in early Sunday trades with investors looking for greater clarity as the first-quarter results are set to get rolling in later this week. Image Credit: Ahmed Kutty/Gulf News Dubai: Abu Dhabi and Dubai stocks moved little in early Sunday trades with investors looking for greater clarity as the[…]

Employers must insure all staff and their families says Saudi health insurance regulator

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RIYADH: Dubai’s Emaar Properties posted a 140 percent increase in first-quarter sales to 6 billion dirhams ($1.6 billion), founder Mohamed Alabbar told Al Arabiya on Thursday. Alabbar expressed his optimism about the current year, which has seen the improvement after 2020 was marred by the coronavirus pandemic. “The numbers are promising despite the difficulties that[…]

Dubai’s Emaar more than doubles sales in Q1 2021

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RIYADH: Saudi Arabia has more than 40 registered pharmaceutical factories, covering 36 percent of the local market need for medicines, said Mohammed Al-Nahhas, chairman of Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO).The Kingdom’s pharmaceutical sector exports more than SR1.5 billion annually and is estimated to grow at 5 percent a year, he said during[…]