Business & Money | Monday 2 September, 2024 10:35 am

Ministry of Industry issues ‘factory developer consultant’ license to improve production efficiency

Saudi Arabia’s Ministry of Industry and Mineral Resources launched a “factory developer consultant” licensing service within the industrial consulting licenses, to develop industrial facilities and their business, improve their production efficiency, and benefiting from the experience of...

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Business & Money | Sunday 1 September, 2024 11:44 am

Subscription to September issue of Sah to start tomorrow; return set at 5.31%

Subscription to the government-backed savings product for individuals (Sah) will start tomorrow, Sept. 1. Shariah-compliant securities are issued by the Saudi Ministry of Finance and arranged by the National Debt Management Center (NDMC).The return is...

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Business & Money | Sunday 1 September, 2024 10:22 am

Chemanol inks technical licensing agreement for MDEA project

Methanol Chemicals Co. (Chemanol) signed a technical licensing agreement with a foreign company that owns the technology to produce methyl diethanolamine (MDEA) at a production capacity of 25,000 metric tons per year. In a statement to Tadawul, the company said the project’s initial...

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Business & Money | Sunday 1 September, 2024 10:19 am

ACWA Power signs SAR 9.7B agreements for 3 solar PV plants

ACWA Power Co. signed financing agreements for three major solar photovoltaic (PV) projects - Haden, Muwyah and Al Khushaybi - in Makkah and Qassim Provinces, each with a production capacity of 2,000 MW, 2,000 MW, and 1,500 MW, respectively. In a statement on Tadawul, the company said that the ...

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Business & Money | Saturday 31 August, 2024 4:42 am

Nvidia greatly impacts markets much like Fed: Analyst

Whatever US chipmaker Nvidia does greatly impacts markets just like the Federal Reserve, Mohamed El-Erian, economist at Allianz, said on his X account.   He added that "don't fight the Fed" has long been a common mantra in capital markets. However, market chatter these days suggests...

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Business & Money | Saturday 31 August, 2024 4:39 am

Monsha'at: 56 brands mull granting franchises in Saudi Arabia

Small & Medium Enterprises General Authority (Monsha'at) stated that 56 companies are exploring the possibility of granting franchises following the second round of the Saudi government's franchise program. The move aims to enhance growth and expand investment opportunities for companies...

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Business & Money | Saturday 31 August, 2024 4:37 am

GEA Chairman says plans to list webook on Saudi exchange

Webook platform is expected to become a billion-dollar company, with plans to list it on the Saudi exchange, Turki Al-Sheikh, Chairman of the General Entertainment Authority (GEA), said on his X account.   He highlighted the impressive achievements of the platform in less than a...

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Business & Money | Saturday 31 August, 2024 4:15 am

UK's Virgin set to obtain first foreign airline license in KSA

Saudi Arabia intends to start licensing foreign airlines to operate in the local market, to strengthen the Kingdom's position in the global aviation network and help achieve its foreign tourism targets, Al Eqtisadiah newspaper reported.   Virgin Atlantic will be the first foreign...

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Government | Friday 30 August, 2024 6:54 am

King Salman issues royal orders

King Salman bin Abdulaziz Al Saud issued today, Aug. 29, royal orders, including the following:   Lieutenant General Fahd Al-Ghafili, Commander of the Royal Saudi Naval Forces, was relieved of his post and was appointed as Deputy Chairman of the General Staff.   The...

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Business & Money | Friday 30 August, 2024 6:52 am

NHC sales hit SAR 13.5B in H1 2024

National Housing Co. (NHC) said its sales of residential units reached SAR 13.5 billion, with more than 13,000 houses sold in the first half of 2024, a four-fold spike compared to last year's sales volume, the Saudi Press Agency reported.   The Central Province accounted for most of...

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