Business & Money | Monday 12 May, 2025 11:40 am

Aramco debt level ‘very low’; 3M bpd surplus capacity: Exec

Saudi Arabian Oil Co.’s (Saudi Aramco) debt level at 5.3% is the lowest among the five major global oil firms, Ziad Al-Murshed, Executive Vice President and CFO, told Al-Ekhbariya TV. The low debt level further strengthens Aramco’s financial flexibility, boosts its ability to execute its...

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Business & Money | Monday 12 May, 2025 11:35 am

SMC issues supplementary prospectus with Tawuniya as cornerstone investor

Specialized Medical Co. (SMC) issued a supplementary prospectus, disclosing that it received a binding commitment from The Company for Cooperative Insurance (Tawuniya) to subscribe as a cornerstone investor for 5.875 million shares in the offering, representing 2.35% of the company’s...

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Business & Money | Sunday 11 May, 2025 2:43 pm

SAB Invest Launches Saudi Arabia’s First Quantitative ETF

SAB Invest today announced the launch of the SAB Invest Saudi Quant ETF, Saudi Arabia’s first exchange-traded fund built on a quantitative investment strategy. This milestone introduces a new generation of ETFs designed specifically for the Saudi market, adapted from an HSBC model that has...

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Business & Money | Sunday 11 May, 2025 2:40 pm

Aramco CEO says global trade shifts hit energy markets, but performance stays strong

Saudi Aramco President and CEO Amin Nasser said global energy markets were impacted in the first quarter of 2025 by factors related to changes in global trade, creating economic uncertainty and weighing on oil prices. In a statement accompanying the company’s financial results, a copy of...

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Business & Money | Sunday 11 May, 2025 12:54 pm

Sulaiman Al Habib says Al Muhammadiyah Hospital to launch ops in June

Dr. Sulaiman Al Habib Medical Services Group Co. will commence operations at Al Muhammadiyah Hospital in Jeddah on June 15. The final license was obtained on May 8 from the Ministry of Health, Sulaiman Al Habib said in a statement to Tadawul. The healthcare services provider...

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Business & Money | Thursday 8 May, 2025 1:38 pm

Self-driving taxi to be launched in Riyadh soon: TGA official

A self-driving taxi project will be launched in the city of Riyadh soon, according to Omaima Bamsok, Undersecretary of Transportation Empowerment at the Transport General Authority (TGA). She added that this comes as part of the autonomous transportation initiative, which will represent a...

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Business & Money | Thursday 8 May, 2025 1:06 pm

NWC starts implementation of 2 sanitation projects in Northern Borders worth SR +400 million

The National Water Company (NWC), represented by its Northern Cluster, has started the implementation of two sanitation projects in the Northern Borders region at a total cost of more than 400 million Saudi Riyals. The company stated that the two environmental projects include the construction ...

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Business & Money | Thursday 8 May, 2025 12:57 pm

NEOM Investment Fund partners with MemryX to scale energy-efficient Edge AI computing

 NEOM Investment Fund (NIF), the investment arm of NEOM, has announced a strategic investment in MemryX, a US-based leader in Edge AI semiconductor solutions. The partnership will accelerate the development and deployment of next-generation, energy-efficient edge AI accelerators which are...

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Business & Money | Thursday 8 May, 2025 11:31 am

Tourism Development Fund to Join Future Hospitality Summit as Enablement Partner

The Tourism Development Fund (TDF), the Kingdom’s tourism enabler, has announced it will serve as an enablement partner in the Future Hospitality Summit (FHS) Saudi Arabia. The event is scheduled to take place in Riyadh from May 11 to 13, 2025, and will bring together global decision-makers and...

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Business & Money | Wednesday 7 May, 2025 2:27 pm

Localization of aviation industry top priority of Vision 2030: Alkhorayef

Minister of Industry and Mineral Resources, Bandar Alkhorayef, said the localization of the aviation industry is a top priority in the Kingdom’s Vision 2030 and aligns with the objectives of the National Industrial Strategy. He added that the move is aimed at strengthening national...

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