Business & Money | Friday 19 April, 2024 9:40 am

SNB Capital expects Saudi banking sector to grow 9% from 2023

The Saudi banking sector is expected to achieve a year-on-year (YoY) growth rate of 8-9%, during the first quarter of 2024, buoyed by increased lending activity, enhanced profit margins, and steady deposit costs, Iyad Ghulam, Head of Equity Research at SNB Capital, told Argaam. In his...

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Environment & Energy | Friday 19 April, 2024 8:36 am

Ducab Metals Business Launches Eco-Aluminium Rods, Revolutionizing Sustainability in Industry

DMB (Ducab Metals Business), committed to leading the “hard to abate” aluminium industry into the green economy, today announced the launch of its Green Aluminium Rod offering to its metals portfolio which will be in compliances to EU’s CBAM regulation. DMB uses recycled aluminium to...

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Technology & IT | Friday 19 April, 2024 8:27 am

Kaspersky warns of data stealers hunting for user credentials

As the malware development market continues to flourish with new stealers such as Lumma, for the last three years Redline still remains the dominant data-stealing malware used by cybercriminals. More than half of every device (55%) targeted by password-stealer attacks in 2023 has been infected with ...

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Business & Money | Friday 19 April, 2024 7:30 am

Sure inks SAR 94.2M contract to build, develop, operate e-platform

Sure Global Tech Co. signed, on April 17, a project contract with a legal entity to build, develop and operate an electronic platform at a total value of SAR 94.17 million, including value-added tax (VAT). The contract has a term of three years, the company said in a statement to Tadawul,...

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Business & Money | Thursday 18 April, 2024 10:17 am

Allianz SF says Allianz SE sold entire stake to ADNIC

Allianz Saudi Fransi Cooperative Insurance Co. (Allianz SF) received a notice from Allianz SE on selling its entire shares in the Saudi-listed insurer to Abu Dhabi National Insurance Co. (ADNIC), according to a statement to Tadawul. Allianz SE offloaded 30.6 million shares at a weighted price...

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Business & Money | Thursday 18 April, 2024 9:04 am

Zoujaj's 6th glass containers line to be completed in Dec. at SAR 47M

National Co. for Glass Industries (Zoujaj) said today, April 16, that the sixth glass container production line will cost SAR 46.6 million and is expected to be completed in December 2024. The expected financial impact of the project will appear starting in the first quarter of 2025. It...

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Business & Money | Thursday 18 April, 2024 9:02 am

Thimar sets up new firm for real estate investments

Thimar Development Holding Co. established a new 100%-owned, one-person limited liability company named Thimar Towers Development and Real Estate Investment Co.In a statement to Tadawul, Thimar said the new company is headquartered in Riyadh, Saudi Arabia. The company was set up to support...

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Technology & IT | Wednesday 17 April, 2024 1:25 pm

HONOR Magic6 Pro Review: A Flagship Powerhouse with AI Magic in the Details

HONOR continues to surprise us all! The giant smartphone manufacturer has come out with its next iteration of its flagship Magic series, the all-new HONOR Magic6 Pro. The all-new smartphone takes on the competition and I've been fortunate to get my hands on the HONOR Magic6 Pro recently, allowing...

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Technology & IT | Wednesday 17 April, 2024 12:28 pm

ESL FACEIT Group and Qiddiya City Partner to Drive Esports Evolution with Five-Year Partnership

 ESL FACEIT Group (EFG), the world’s leading esports and video game entertainment company, and Qiddiya City, a global destination for entertainment, sports, and culture, today announced a five-year global partnership to empower Qiddiya’s goal of establishing the world’s premier gaming...

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Business & Money | Wednesday 17 April, 2024 10:29 am

Saudi Cable names Fawaz Al Muqbil as CEO, Khalid Khashoggi as MD

Saudi Cable Co.’s board of directors decided yesterday, April 16, to appoint Fawaz Bin Mubarak Al-Muqbil as CEO effective today, April 17. Al-Muqbil replaced Nael Samir Fayez, who was appointed as an advisor to the company’s board of directors, according to a statement to...

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