Business & Money | Wednesday 18 September, 2024 11:17 am

Ajdan and AlJazira Capital to Launch 2 billion Riyal Real Estate Project in Riyadh

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...

More Details

Technology & IT | Wednesday 18 September, 2024 10:52 am

Saudi Arabia rises to 4th position globally in UN e-government index

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...

More Details

Environment & Energy | Wednesday 18 September, 2024 10:44 am

Aramco aims for key role in LNG market: Al-Ghamdi

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...

More Details

Business & Money | Wednesday 18 September, 2024 10:38 am

Saudi Top pens contract to buy polycarbonate waste from SABIC

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...

More Details

Business & Money | Wednesday 18 September, 2024 10:18 am

GEA, Kafalah to provide financial support to SMEs

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...

More Details

Environment & Energy | Tuesday 17 September, 2024 9:26 am

Aramco to raise stake in MidOcean to 49%, fund new stake in Peru LNG

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...

More Details

Business & Money | Tuesday 17 September, 2024 9:23 am

SAIB plans $1.5B sukuk program

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 ...

More Details

Business & Money | Tuesday 17 September, 2024 9:21 am

Industry Minister launches Rafed Program for university-based factories

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...

More Details

Government | Monday 16 September, 2024 8:54 am

HRSD Ministry announces National Day holiday for private sector

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,...

More Details

Environment & Energy | Monday 16 September, 2024 8:46 am

Maaden signs SPSA to take over Maaden Bauxite, Maaden Aluminium

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...

More Details