ADES Holding Co. mutually agreed with its client in Saudi Arabia to suspend the operations at five of its 33 offshore jack-up rigs in the Kingdom, for a period that may extend up to 12 months. One of the suspended rigs will be deployed as part of the contract ADES recently secured...
Today stc pay was given formal approval from the Saudi Central Bank (SAMA) to move to the next phase of its transformation journey into STC Bank. This beta launch is limited to preselected customers and is a preparation for a full public launch later in the year. This step is supported by SAMA,...
Saudia, the national flag carrier of Saudi Arabia, announced that its brand value has grown by 58% since 2021 according to the Brand Finance® Top 50 Airlines annual report. Over the past four years, the airline has climbed six places to secure the 33rd position within the brand value ranking...
ACWA Power Co. received, on April 2, a notification from the Sirdarya combined cycle gas-turbine (CCGT) Independent Power Project (IPP) confirming achieving partial commercial operation following the receipt of the Commercial Operation Certificate from the National...
Emaar, the Economic City (“EEC”), the master developer of King Abdullah Economic City (“KAEC”), today (Wednesday 3rd April 2024) announces the Board of Directors’ decision to appoint Mr. Abdulaziz Ibrahim Alnowaiser as its new Chief Executive Officer, effective May 1st, 2024. With...
The General Food Security Authority (GFSA) completed the procedures for awarding the first batch of imported wheat for 2024, amounting to 795,000 tons, for local market supply from the European Union, North and South America, Australia, and the Black Sea. Governor Ahmed Al-Faris...
Emaar The Economic City (Emaar EC) announced rescheduling a loan agreement worth SAR 1 billion with the Public Investment Fund (PIF) from 18 to 21 months, according to a statement to Tadawul today, April 1. Accordingly, the facility term will end on Nov. 19, 2024, instead of Aug. 19, 2024,...
Saudi Real Estate Co. (Al Akaria) signed on April 1 a contract with Diriyah Gate Company Limited (DGCL) for the excavation work of metro-box central, metro-box south and metro-box east. The contract—worth SAR 722.1 million, inclusive of VAT—is valid for 1,276 calendar days. The ...
Leading Saudi data management & digitalization company Master Works unveils a brand new digital arm through the launch of subsidiary Adree. As a visionary tech-driven company with offices in Saudi Arabia, where it is headquartered, Adree is on a mission to become a digital...
The Zakat, Tax and Customs Authority’s (ZATCA) new regulations for collecting Zakat offer independent Zakat treatments, encompassing various sectors such as real estate activities, construction, investment funds, insurance, financing, and others, said Hamoud Al-Harbi, official...