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Saudi companies spent $47bln on capital expenditure in 2020

Saudi companies spent $47bn on capital expenditure in 2020

Companies listed on the Saudi Stock Exchange (Tadawul) spent SR177 billion ($47 billion) on capital expenditure (CAPEX) in 2020, equal to around 7 percent of the Kingdom’s gross domestic product (GDP), according to new research. The report by Dubai-based research portal Awalan found that CAPEX declined by 14 percent last year, as supply chains were disrupted due to the

Abu Dhabi fund, CVC, among suitors for $1 billion NMC hospital business

3 Min Read DUBAI (Reuters) - Abu Dhabi state-owned holding company ADQ and private equity firm CVC Capital Partners are among the suitors that have shown interest in NMC Health’s core hospital business, sources told Reuters. FILE PHOTO: General view of NMC specialty hospital in Abu Dhabi, United Arab Emirates, February 11, 2020. REUTERS/Satish Kumar/File Photo Hospital operators in the region have reported higher profits for last year as the COVID-19 pandemic led to higher in-patient occupancy. NMC has hired advisers for the sale of NMC’s healthcare business in the United Arab Emirates (UAE) and Oman, which sources said could generate around $1 billion.

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