Business & Money | Saturday 20 June, 2020 11:50 am

Saudi Arabia’s Absher initiative ends with five technical ideas

The sixth virtual session of the “Absher Youth” initiative was concluded in the presence of Prince Bandar bin Abdullah Al-Mishari, assistant minister of interior for technology affairs.The sixth session produced ideas for five initiatives, three of which aim to develop electronic services...

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Business & Money | Friday 19 June, 2020 3:16 am

Saudi Arabia ranks second in global competitiveness annual report for 2020

Saudi Gazette reportRIYADH — Saudi Arabia ranked second internationally in the consumer price index for 2020, making a quantum leap from the 38th rank in 2019 despite challenges resulting from the coronavirus pandemic, thanks to its low inflation rates, according to global competitiveness annual...

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Business & Money | Thursday 18 June, 2020 6:00 pm

Saudi Arabia's Public Investment Fund to invest Rs 11,367 crore in Jio Platforms

Reliance Industries and Jio Platforms on Thursday announced an investment of Rs 11,367 crore by Saudi Arabia's Public Investment Fund (PIF).This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. PIF's investment will...

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Business & Money | Thursday 18 June, 2020 4:53 pm

Shaker Group narrows Q1 losses

Shaker Group (“Al Hassan Ghazi Ibrahim Shaker Co.”, the “Company” or the “Group”), Saudi Arabia’s leading importer, manufacturer and distributor of Air Conditioners and Home Appliances, has announced its financial results for the 3-month period ended 31 March 2020.  Revenue of...

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Business & Money | Thursday 18 June, 2020 3:51 pm

Sharjah Islamic Bank successfully priced $500 million Sukuk

Sharjah Islamic Bank (SIB), one of the leading Islamic banks in the UAE, priced a $500 million (1.83 billion dirhams) long 5-year sukuk, with a profit rate of 2.85 per cent per annum, fetching it an A- rating by S&P. Some of the other achievements of the bank during the year include, expansion...

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Business & Money | Thursday 18 June, 2020 2:24 am

DHL Express Saudi Named Top Employer 2020 for 6th Consecutive Year

DHL Express Saudi has been recognized as Top Employer 2020 by the Top Employer Institute for the sixth consecutive year, following strong performance in the areas across multiple HR practices including Leadership Development, Learning & Development and Culture, and Talent Strategy. DHL Express...

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Business & Money | Wednesday 17 June, 2020 4:39 pm

ENOC Group records 12 million cashless transactions in the UAE

ENOC Group has recorded 12 million cashless transactions in the first five months of this year, in a move towards encouraging cashless payments, one of the key pillars of the UAE Vision 2021, and in line with the directives issued by the UAE Government to maintain precautionary measures in the...

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Business & Money | Wednesday 17 June, 2020 1:20 pm

Aramco Completes its Acquisition of a 70% Stake in SABIC from the Public Investment Fund

Aramco today announced the successful completion of its share acquisition of a 70% stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund (PIF), the sovereign wealth fund of the Kingdom of Saudi Arabia, for a total purchase price of SAR 259.125 billion (US$ 69.1...

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Business & Money | Wednesday 17 June, 2020 1:04 pm

Amazon Launches Amazon.sa

Amazon today announced the launch of Amazon.sa, a dedicated store for customers in Saudi Arabia that features millions of products from both local and international businesses, including products from Amazon US. Customers shopping on Amazon.sa will enjoy great prices and fast delivery across 34...

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Business & Money | Wednesday 17 June, 2020 11:21 am

YORK’s “Hospitals Initiative” Helps 21 Hospitals Fight COVID-19

Al Salem Johnson Controls (YORK), a pioneer in the heating, ventilation, air-conditioning and refrigeration (HVACR) sector, has launched the “YORK Hospitals Initiative” for maintenance work, last March, in cooperation with the Ministry of Health, to support the Healthcare Sector in facing the...

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