19 Ramadan 1445 - 29 March 2024
    
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Eye of Riyadh

Minister of Municipal Affairs approves Municipal Licensing Procedures Law
Government | Sunday 3 March, 2024 8:54 am
Minister of Municipal, Rural Affairs and Housing, Majid Al-Hogail, approved the Municipal Licensing Procedures Law, Umm Al-Qura newspaper reported on March 1.   This replaces the Executive Regulations of the Municipal Licensing Procedures Law issued on Jan. 30,...
Enhancing fair trade practices important for economic opportunities in developing countries
Business & Money | Saturday 2 March, 2024 1:26 am
Minister of Finance, Mohammed Al-Jadaan, said that enhancing fair trade practices is important for increasing economic opportunities in developing countries. He also emphasized the need to continue implementing the common framework for debt treatment.   In the first G20 Finance...
SAMA Governor says monetary policies should ensure price stability
Business & Money | Saturday 2 March, 2024 1:22 am
Ayman Al-Sayari, Governor of Saudi Central Bank (SAMA) said that monetary policies should ensure price stability and be ready for immediate action to address economic changes.   He added that a stable financial sector is capable of efficiently converting savings into investments,...
Saudi Arabia to build food industrial clusters in Jazan, use Made in Saudi label on Lucid cars
Business & Money | Saturday 2 March, 2024 1:19 am
Saudi Arabia will build food industrial clusters in Jazan, mining industrial clusters in Ras Al-Khair, automotive industrial clusters in Jeddah, and chemicals clusters in Yanbu, Al-Eqtisadiah newspaper reported, citing Bandar Alkhorayef, Minister of Industry and Mineral...
Aramco completes acquisition of Esmax
Business & Money | Saturday 2 March, 2024 1:17 am
Saudi Aramco successfully completed the acquisition of a 100% equity stake in Esmax Distribución SpA (Esmax), a leading diversified downstream fuels and lubricants retailer in Chile.   Esmax has a national presence that includes retail fuel stations, airport operations, fuel...
Eastern Cement inks $270.53M contract to build new production line
Business & Money | Friday 1 March, 2024 6:50 am
Eastern Province Cement Co. signed today, Feb. 29, a 26-month contract with China's Sinoma CDI to establish a new production line in the company’s plant in Khursaniyah at a value of SAR 270.53 million, the company said in a statement to Tadawul. The new production line will operate with a...
Bahri Wins Guinness World Record for Largest Mobile Desalination Plant
Business & Money | Friday 1 March, 2024 12:01 am
Bahri Desalination, a specialized business unit of the National Shipping Company of Saudi Arabia (Bahri), the global shipping and logistics leader, has established a new milestone in seawater desalination production, reinforcing its position as the industry pioneer with the largest...
A record year for ACWA Power backed by strong results for the full year ended 31 Dec 2023
Business & Money | Thursday 29 February, 2024 1:21 pm
Saudi-listed ACWA Power, the world’s largest private water desalination company, and a leader in energy transition and first mover into green hydrogen, todayannounced a record net profit of SAR 1,662 million in its financial results for the full year ended 31 Dec 2023.  Supported by...
Thakher Makkah project to cost above SAR 26B: CEO
Business & Money | Thursday 29 February, 2024 8:39 am
Abdulaziz bin Saleh Al-Aboudi, CEO of Thakher Development Co., said that the total value of the company's Thakher Makkah project may exceed SAR 26 billion, pointing out that the project, which spans over a total area of 320,000 square meters, is one of the most important private sector projects in...
Jeddah Historic District Program and Al Balad Development Company Sign Agreement to Operate Heritage Hotels
Business & Money | Tuesday 27 February, 2024 9:33 am
Jeddah Historic District Program, under the patronage of the Saudi Ministry of Culture, has signed an agreement with Al Balad Development Company, a PIF Company, to operate heritage hotels in the Jeddah Historic District. The move aims to develop the tourism sector in the area, enhance the level of ...
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