Business & Money | Wednesday 17 July, 2024 11:17 am

Saudi Re gets regulatory approval on capital hike

Saudi Reinsurance Co. (Saudi Re) has received the approval of the Insurance Authority on the capital increase, while suspending the pre-emptive rights. The Public Investment Fund (PIF) will fully subscribe to the new shares, bringing its ownership in the company to 23.08% after the capital...

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Business & Money | Wednesday 17 July, 2024 11:15 am

Jadwa Investment acquires majority stake in Tikkaway Restaurants in Saudi Arabia

Jadwa Investment has announced its latest private equity investment in the food and beverage (F&B) industry by acquiring a majority stake in Tikkaway Restaurants, marking Jadwa's first acquisition in the Kingdom’s restaurant sector.   In a statement to Argaam, the company...

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Business & Money | Wednesday 17 July, 2024 11:14 am

Tibbiyah’s subsidiary wins 2 contracts worth SAR 198.7M with NUPCO

Arabian International Healthcare Holding Co.’s (Tibbiyah) subsidiary, International Medical Supplies Co. (Premma Health), won two supply-upon-request contracts worth SAR 198.69 million with National Unified Procurement Co. (NUPCO). In a statement to Tadawul, Tibbiyah said Premma Health will...

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Government | Wednesday 17 July, 2024 11:12 am

Industry Ministry explains National Minerals Program tasks, impact

The Cabinet issued a decision, on July 16, to establish the National Minerals Program under the umbrella of the Ministry of Industry and Mineral Resources. The Ministry said in a statement on X platform that the most prominent tasks of the program include the quality and sufficiency of...

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Business & Money | Wednesday 17 July, 2024 11:10 am

ACWA Power sells 35% of stake in 2 subsidiaries for SAR 595.9M

ACWA Power signed on July 16 a sale and purchase agreement to sell 35% of its shareholding in ACWA Power Bash Wind Project Holding Co. Ltd. and ACWA Power Uzbekistan Wind Project Holding Co. Ltd. to China Southern Power Grid International Co. Ltd. In a statement to Tadawul, the...

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Business & Money | Wednesday 17 July, 2024 11:09 am

PIF launches 3 new renewable energy JVs

The Public Investment Fund (PIF) signed today, July 16, three new agreements to localize in Saudi Arabia the manufacturing and assembly of equipment and components needed for solar and wind power.   These agreements have been entered into by the Renewable Energy Localization Company...

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Business & Money | Wednesday 17 July, 2024 10:15 am

Ministry offers 100 enablers, incentives to industrial, mining investors

Minister of Industry and Mineral Resources Bandar Alkhorayef said that the industry and mineral resources system offers up to 100 capabilities and incentives to investors in the industrial and mining sectors.   Alkhorayef explained during a strategic workshop organized by the Private ...

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Tourism & Hospitality | Tuesday 16 July, 2024 4:25 pm

Rocco Forte Hotels Welcomes Saudi Tourists with ITA Airways' New Direct Flight from Rome to Riyadh

In a landmark development, ITA Airways has launched its first direct flight from Rome to Riyadh, significantly enhancing air connectivity and tourism between Italy and Saudi Arabia. In parallel with this exciting launch, Rocco Forte Hotels is delighted to welcome tourists from the Kingdom of Saudi...

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Business & Money | Tuesday 16 July, 2024 4:09 pm

15th Real Estate Development Summit Saudi Arabia: Europe Edition recently concluded on the 4th and 5th of July in Palau de Congressos Palma de Mallorca – Spain

 Aptly themed: Connecting beyond boundaries, this edition brought over 350 decision-makers together representing top projects in Saudi Arabia and a global pool of some of the most sought-after solutions. The gathering began with a heartfelt welcome address by Ravi Kumar...

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Business & Money | Tuesday 16 July, 2024 12:12 pm

Bahri partners with SLA to provide training and employment opportunities in KSA logistics sector

Bahri, a global leader in logistics and transportation, has entered into a training agreement with the Saudi Logistics Academy (SLA), a non-profit training facility established to qualify young Saudi talent across several industries including logistics, supply chain, e-commerce, and marketing. The...

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