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Saudi Arabia sees surge in issuance of precious metal, gemstone licenses

RIYADH: Saudi Arabia has seen a surge in licenses for precious metal and gemstones this year, according to a report by the Al-Eqtisadiah newspaper, citing figures from the Ministry of Commerce. The ministry has issued 220 licenses in the sectors so far in 2021, the report said. That compares to 270 issued throughout the whole of last year. The trading or manufacturing of

Egypt s $31 8bn Nour City project to create 3 3 million jobs

DUBAI: Talaat Mostafa Holding has revealed plans for a new city east of Cairo with an investment cost of 500 billion pounds ($31.8 billion), Asharq Business reported. It will include 140,000 housing units, and is expected to provide as many as 3.3 million regular and irregular jobs, the developer told a press conference. Mostafa said that the Nour City project, which is

Dubai to host region s largest beauty industry trade fair

A consortium of international, regional and local cosmetic brand distributors and service companies are readying to launch a multitude of new-to-market products at this year’s Beautyworld Middle East, the Arab world’s largest international beauty and wellness trade fair. The three-day exhibition will run from Oct. 5 to 7 at Dubai World Trade Centre (DWTC).

WEEKLY ENERGY RECAP: Oil prices make the second consecutive week of gains

Oil prices made the second consecutive week of gains and rose to a two-year high on stronger demand prospects, as OPEC+ succeeded in draining global oil inventories and the successful rollout of vaccine programs continued. On the week closing, Brent crude price rose to $71.89 per barrel. West Texas Intermediate (WTI) rose to $69.62 per barrel. After two years of resistance,

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