Business & Money | Friday 24 April, 2020 2:16 am

Bahri’s net profit soars 134% in first quarter despite COVID-19 challenges

Bahri, a global leader in logistics and transportation, on Wednesday reported strong growth in net profit during the first quarter of 2020 despite challenges posed by the global COVID-19 pandemic. The increase in quarterly earnings was driven by a significant improvement in the performance of the...

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Business & Money | Friday 24 April, 2020 1:13 am

SAMI appoints Walid Abukhaled as acting CEO

The Board of Directors of Saudi Arabian Military Industries (SAMI) announced the appointment of Eng. Walid Abukhaled as acting CEO to oversee the company’s operations starting from April 23, 2020, until further notice. Eng. Abukhaled will be taking over from Dr. Andreas Schwer who served as CEO...

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Business & Money | Thursday 23 April, 2020 12:56 pm

The FII Institute Series Launches With a Future-oriented Virtual Event: "Beyond the Crisis: Technology to the Rescue" on April 23rd

The Future Investment Initiative (FII) Institute kicks off by hosting an exclusive virtual event on April 23rd, moderated by entrepreneur and futurologist, Dr. Peter H. Diamandis. This inaugural meeting marks the start of the FII Institute Series, bringing together an influential group of...

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Business & Money | Thursday 23 April, 2020 12:16 pm

Saudi SABIC to distribute SAR 2.2/shr for H2-19

The Saudi Basic Industries Corporation (SABIC) announced that its ordinary general meeting (OGM) has approved the board of directors’ recommendation to distribute cash dividends to shareholders for the second half (H2) of 2019. With a total amount of SAR 6.6 billion, the dividends will be...

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Business & Money | Thursday 23 April, 2020 12:15 pm

SAGO Issues Tender to Import 655,000 Tons of Wheat

Saudi Grains Organization (SAGO) announced today that it has issued the third tender for the year of 2020 to import 655,000 tons of wheat to be supplied during the period of July-August 2020.Governor of SAGO Eng. Ahmad Abdulaziz Al-Fares stated that the amount specified in the tender is distributed ...

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Business & Money | Thursday 23 April, 2020 3:23 am

Minister of Finance: Kingdom has taken several measures including provision of necessary funding for health sector to face Corona pandemic

Minister of Finance and Acting Minister of Economy and Planning Mohammed bin Abdullah Al-Jadaan, confirmed that the kingdom’s government has reached advanced stages of implementing its plans under the Kingdom's Vision 2030, as it has continued to control the public finances, control the fiscal...

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Business & Money | Wednesday 22 April, 2020 6:17 pm

B20 Saudi Arabia Convenes Global Business and Health Leaders to Assess What the World Will Look Like After the COVID-19 Crisis

  The B20 Saudi Arabia, which represents the global business community across all G20 members, yesterday hosted a virtual plenary session entitled “Reviving Business for a New Normal”. Moderated by the Financial Times’ Gillian Tett, more than 600 participants attended the plenary...

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Business & Money | Wednesday 22 April, 2020 5:23 pm

Saudi Authority for Intellectual Property, Republic of Korea Sign Intellectual Property Data Exchange Program

The Saudi Authority for Intellectual Property and Korean Intellectual Property Office signed today during the sixth virtual meeting held between the two sides an intellectual property data exchange program. The program comes within the framework of the intellectual property Memorandum of...

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Government | Wednesday 22 April, 2020 8:01 am

GCC Finance Ministers Hold 111th Meeting of GCC Financial and Economic Cooperation Committee

The Gulf Cooperation Council (GCC) Financial and Economic Cooperation Committee held the 111th meeting via virtual network, chaired by Obaid Humaid Al-Tayer, Minister of State for Financial Affairs of the United Arab Emirates.During the meeting, the Finance Ministers of the GCC States reviewed a...

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Business & Money | Wednesday 22 April, 2020 12:44 am

Coronavirus measures should not disrupt global food supply: G20 agriculture ministers

Agriculture and food ministers from the Group of 20 countries under the presidency of Saudi Arabia held a virtual meeting on Tuesday to discuss challenges to global food supply in the wake of coronavirus outbreak.The ministers underscored the need to work together to maintain global food supply...

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