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Press Dossier   By Date  07/08/2022
Saudi companies to export supply chain prowess to GCC countries
RIYADH: Five years after Saudi Arabia announced its target to localize 50 percent of its military industries by 2030, companies in the Kingdom are now ready to export their supply chain capabilities.
Saudi Red Sea International’s shares drop as H1 losses widen to $18m
RIYADH: Saudi-listed Red Sea International has seen its first-half losses widen to SR67 million ($18 million), dragging its share price lower.
Oxo mobilizes online deals worth $270m in 11 months
CAIRO: Saudi-based fintech startup Oxo has hit SR1 billion ($270 million) worth of transactions through its merchant platform since its launch 11 months ago.
Five Turkish banks adopted Russia’s payment system, Erdogan says
RIYADH: Around five Turkish banks have adopted Russia’s Mir payments system, Bloomberg reported, citing the country’s President, Recep Tayyip Erdogan.
Khalifa Fund offers $30 million to support Kenya’s SMEs sector
In implementation of directives of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, the Khalifa Fund For Enterprise Development (KFED) and National Treasury & Planning Ministry in the Republic of Kenya have signed a Dhs110 million ($30 million) financing agreement to empower the Kenyan Youth Enterprise Development Fund.
Summit to discuss the future of innovation in MENA region
A galaxy of business leaders, innovators and techies will take the centre-stage at the 3rd Middle East Innovation and Technology Transfer (MITT) Summit, the region’s biggest specialised event in technology transfer and innovation, to be held at the SRTI Park, Sharjah, on October 13.
Dewa saves Dh2 million annually through preventive maintenance work
Dubai Electricity and Water Authority (Dewa) announced that the application of periodic preventive maintenance to its power transmission networks contributes to achieving 100 per cent in the reliability and availability of the power transmission system in Dubai, and reducing the average maintenance costs by approximately Dh2 million annually. This also has helped Dewa to be the ‘Best in Class’ among global utilities since 2018.
Emirates Development Bank approves Dh2.4 billion in finance during H1
Emirates Development Bank (EDB) held its board meeting to review results of the first half of 2022 and monitor the progress of its new strategy which was launched in April 2021 to support the UAE’s industrial development, accelerate the adoption of advanced technologies, and empower the growth of SMEs.
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