Business & Money | Sunday 5 June, 2016 6:29 am

UK prepares to participate in housing projects in Kingdom

The British government intends to mobilize all of its specialized entities and companies operating in the field of construction for residential units to invest in the large residential projects offered by the Kingdom, as represented by the Department of Housing in fulfillment of its “Vision...

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Business & Money | Sunday 5 June, 2016 5:56 am

SES Prices Hybrid Bond Offering of EUR 750 million

This transaction is of strategic and long-term importance for SES, and complements the recent equity raise which generated gross proceeds of EUR 908.8 million. Together these transactions are fully consistent with SES’s commitment to maintaining its investment grade credit rating (BBB/ Baa2)...

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Business & Money | Saturday 4 June, 2016 3:40 pm

Visa Introduces NFC-Enabled Payment Ring for Team Visa Sponsored Athletes to Use at Rio 2016 Olympic Games

Visa Inc. (NYSE:V), the exclusive payment provider at the Olympic and Paralympic Games, today introduced a new innovation for use at the Rio 2016 Games – the first payment wearable ring backed by a Visa account. The Visa payment ring will be given to all Team Visa athletes in Rio, a group of...

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Business & Money | Saturday 4 June, 2016 3:18 pm

L’azurde and Saudi Fransi Capital hold IPO signing ceremony with receiving banks

L’azurde Company for Jewelry (“L’azurde” or “the Company”) and Saudi Fransi Capital today held an official signing ceremony to formalize agreements with the receiving banks for its Initial Public Offering (IPO).  The ceremony was held at the offices of Saudi ...

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Business & Money | Saturday 4 June, 2016 2:24 pm

Joyalukkas opens its second showroom in Jeddah at LuLu

Joyalukkas’ commitment for growth and expansion continues in the year 2016. This year the ‘world’s favorite jeweler, has planned to open around 15 plus showrooms around the world. Joyalukkas has also started the year in the festive spirit for its customers with new exciting...

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Business & Money | Saturday 4 June, 2016 4:53 am

6% tax on expat remittances urged

The Shoura Council’s finance committee is backing a proposed tax on the remittances of expats, starting from 6 percent in the first year and gradually reducing to 2 percent permanently from the fifth year onward. The tax proposal was drafted by Hossam Al-Anqari, head of the General Auditing...

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Business & Money | Saturday 4 June, 2016 3:42 am

K.A.CARE to help develop renewable energy sources

King Abdullah City for Atomic and Renewable Energy (K.A. CARE) and Asir province will jointly work toward achieving the goal of green buildings, converting municipal solid waste into electricity and monitoring and developing sources of renewable energy for sustainable development. “A joint ...

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Business & Money | Friday 3 June, 2016 5:13 pm

SABIC in JV to build another petrochem complex in China

SABIC has signed a Project Development Agreement (PDA) with Shenhua Ningxia Coal Industry Group Co. Ltd. (SNCG), a subsidiary of Shenhua Group Corporation Limited, effective May 30, 2016. The PDA relates to the two parties’ potential joint development of a greenfield petrochemical complex to ...

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Business & Money | Friday 3 June, 2016 4:31 pm

Crown Prince commissions long range boat Jeddah

Crown Prince Muhammad Bin Naif, deputy premier and minister of interior, said the Border Guard’s marine vessels project is one of the projects that will boost the Kingdom’s border security, Saudi Press Agency reported. In a speech during the commissioning of the first long range boat ...

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Business & Money | Friday 3 June, 2016 3:27 pm

CEDA unveils integrated governance regulation for Vision 2030

The Council of Economic and Development Affairs (CEDA) has developed an integrated governance regulation to ensure establishment of a convention of work, raise efficiency, and facilitate coordination of efforts among the relevant authorities with regard to realizing the Kingdom’s Vision 2030. ...

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