Environment & Energy | Thursday 1 August, 2019 7:20 am

EBRD to finance largest private-to-private solar project in Jordan yet

The European Bank for Reconstruction and Development (EBRD) announced on Wednesday it would grant a $35-million financial package to support Jordan’s largest private-to-private solar project in Jordan yet. Under new regulations that allow private consumers to establish their own energy...

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Business & Money | Thursday 1 August, 2019 7:16 am

Royal Jordanian CEO says first half results show significant improvement in performance indicators

For the first time since 2007, Royal Jordanian (RJ) registered JD3.4 million profit from continuing operations in the first half of 2019 against JD11.1 million loss for the same period in 2018 and a net profit of JD1.5 million, according to RJ CEO Stefan Pichler. During a press conference held...

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Tourism & Hospitality | Thursday 1 August, 2019 3:04 am

Jeddah Season & Red Sea Mall Season, a variety of events and entertainment

Red Sea Mall rewarded Jeddah Season through a Diamond sponsorship along with several strategic partners, mainly the Jeddah Chamber of Commerce and Industry and The Saudi Telecom Company. The Saudi Season tends to conduct numerous entertainment events and activities in order to transfer the Kingdom...

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Government | Thursday 1 August, 2019 2:00 am

SAMA's decision on repo and reverse repo rates

SAMA has decided to lower its repo rate from 300 basis points to 275 basis points, and its reverse repo rate from 250 basis points to 225 basis points with immediate effect. Rate adjustments are in line with SAMA's objective of preserving monetary stability. ...

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Tourism & Hospitality | Thursday 1 August, 2019 1:40 am

First American airline flight in 22 years arrives in Saudi Arabia

The first American airline flight to arrive in Saudi Arabia since 1997 landed in Jeddah on Wednesday carrying 168 Hajj pilgrims. The Miami Air chartered flight from Ohio touched down at King Abdulaziz International Airport on Wednesday afternoon, a General Authority of Civil Aviation (GACA)...

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Business & Money | Thursday 1 August, 2019 1:30 am

NCB achieved SAR 6.2 billion net income for the First Half of 2019,

The National Commercial Bank announced that its net income before calculating Zakat and income tax for the first half of 2019 reached SAR 6,239 million compared to SAR 5,653 million for the same period of the previous year, with an increase of SAR 585 million and a growth of 10.4%. Moreover,...

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Tourism & Hospitality | Thursday 1 August, 2019 1:09 am

Explore Middle East, North Africa, Asia and Europe with Air Arabia’s Eid Al Adha holiday packages

Make the most of the upcoming Eid Al Adha break with Air Arabia holiday packages starting from as low as AED 1,099 per person, inclusive of return flights and 3-night hotel stay.   Discover a wide collection of weekend getaways and short breaks across the Middle East,...

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Tourism & Hospitality | Thursday 1 August, 2019 12:59 am

Shaza Regal House opens its doors to priceless moments this Eid from 9th August

Shaza Makkah is opening the doors for a regal experience for Hajj 2019 guests to experience the journey of a lifetime staying at the most prestigious address in the holiest city on Earth. The experience offers two private penthouse floors encompassing a royal suite, along with 12 other...

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Business & Money | Thursday 1 August, 2019 12:11 am

MEFIC Private Equity Opportunities Fund 3 acquires a 44% stake in MERAS ARABIA MEDICAL HOLDING COMPANY, a leading chain of cosmetic dermatology clinics in KSA

MEFIC Capital, in its capacity as fund manager of MEFIC Private Equity Opportunities Fund 3 (the “Fund”), has successfully completed an investment in Meras Arabia Medical Holding Company (the “Company” or “MERAS”), a leading chain of cosmetic dermatology and...

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Business & Money | Wednesday 31 July, 2019 4:49 pm

ENGIE sign a 30 MWp solar PV contract to supply power to NADEC in KSA

NADEC launched the project to provide electricity from a dedicated 30 MWp solar PV facility in NADEC City, in the Haradh region (265 kms South-East from Riyadh) with the primary objective of supporting its energy transition process. The implementation of this project is expected to reduce...

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