In a strategic move that builds on their ongoing collaboration, Ajdan Real Estate Development Company has entered into a new agreement with AlJazira Capital to develop a mixed-use project in the heart of Riyadh, valued at nearly 2 billion riyals. The project will involve the creation of mixed-use...
The Kingdom of Saudi Arabia has jumped 25 places in the UN E-Government Development Index (EGDI) 2024. It was ranked fourth globally, first regionally, and second among Group of Twenty (G20) countries in the digital services index. Additionally, it secured the seventh position in...
Khalid Al-Ghamdi, Executive Vice President of the Gas Business at Saudi Arabian Oil Co. (Saudi Aramco), stated that the company aims to become a key player in the liquefied natural gas (LNG) market. Al-Ghamdi added that the Gastech Energy Conference in Houston, that Aramco has...
Saudi Top for Trading Co. signed a contract with Saudi Basic Industries Corp. (SABIC) to buy polycarbonate waste from SABIC. In a statement to Tadawul, the company said that the contract has a term of three years starting from Oct. 1, 2024, adding that the deal will contribute to...
The General Entertainment Authority (GEA), in partnership with the Small and Medium Enterprises Loan Guarantee Program (Kafalah), will provide financial support to SMEs of up to SAR 100 million to boost and empower the entertainment sector and stimulate economic growth, Chairman Turki Al-Sheikh...
Saudi Aramco will raise its stake in liquefied natural gas firm MidOcean Energy to 49% and fund its acquisition of a new 15% stake in Peru LNG from Hunt Oil Co., MidOcean and Hunt said in a statement today, Sept. 16. Aramco will hold an indirect stake of 17.2% in PLNG, while Hunt...
The Saudi Investment Bank (SAIB) plans to establish a US dollar-denominated Tier I sukuk program, not exceeding $1.5 billion. Further, the bank intends to issue Tier I sukuk under the program through private placement to qualified investors. In a statement to Tadawul, the bank ...
Bandar Alkhorayef, Minister of Industry and Mineral Resources, launched today, Sept. 16, the Rafed Program, which aims to establish innovative factories at universities and technical colleges across the Kingdom, the Saudi Press Agency reported. The program aims to develop effective...
The private and non-profit sectors will observe Saudi Arabia’s National Day holiday on Monday, Sept. 23, the Ministry of Human Resources and Social Development (HRSD), said. The holiday comes in accordance with Article 24 of the Labor Law’s executive regulations, said the Ministry,...
Saudi Arabian Mining Co. (Maaden) signed today, Sept. 15, a share purchase and subscription agreement (SPSA) with Alcoa Corporation (guarantor), AWA Saudi Limited (first seller) and Alcoa Saudi Smelting Inversiones S.L. (second seller), according to a Tadawul filing. Under the deal, Maaden...