Business & Money | Wednesday 3 January, 2024 2:08 pm

Saudi Real Estate Refinance Company (SRC) Extends its Refinancing Agreement with Alrajhi Bank with an Additional SAR 5.8 billion

The Saudi Real Estate Refinance Company (SRC), wholly owned by the Public Investment Fund (PIF), has extended its refinancing agreement with Alrajhi Bank, the world’s largest Islamic bank by mortgage assets and market cap, with an additional SAR 5.8 billion bringing the total value of refinancing ...

More Details

Business & Money | Wednesday 3 January, 2024 1:00 pm

Forbes Middle East Unveils The Middle East’s Top 100 CEOs 2023

Forbes Middle East has released its third annual list of the Top 100 CEOs in the Middle East, spotlighting the business heads that are running the region’s biggest and most influential homegrown companies. Combined, the 100 CEOs managed revenues of over $1 trillion in 2022. Their firms are...

More Details

Business & Money | Wednesday 3 January, 2024 9:52 am

Azizi Developments announces 8,834 units sold in 2023 with 6,069 scheduled completions in 2024

Azizi Developments, a leading private developer in the UAE, is closing 2023 on a high note, having completed 7,699 units, and having sold 8,834 homes, translating to a 16.5% increase in sales compared to the year prior. Azizi has already committed to deliver 6,069 residences across 22 buildings in...

More Details

Business & Money | Wednesday 3 January, 2024 8:55 am

Saudi insurance sector to see accelerated M&A activity in coming years: Al-Issa

Adel Al-Issa, the spokesman for insurance companies in Saudi Arabia, said mergers and acquisitions (M&As) are deemed a strategic option for insurance companies in the Kingdom, especially medium and small ones, driving long-term durability and more market competition.   Speaking...

More Details

Business & Money | Wednesday 3 January, 2024 8:52 am

TASNEE overcame difficulties, begins recovery: CEO

National Industrialization Co. (Tasnee) went through difficulties and began the recovery phase, as it succeeded in slashing loans from SAR 27 billion to less than SAR 10 billion currently, said CEO Mutlaq Al-Morished.    In an interview with Al-Ekhbariya TV, the CEO...

More Details

Business & Money | Wednesday 3 January, 2024 8:49 am

Industry Ministry issues 158 industrial licenses worth SAR 11.5B in October

The Ministry of Industry and Mineral Resources issued 158 new industrial licenses in October, at a total investment value of SAR 11.5 billion. The new licenses covered five industrial activities, the majority of which (or 31 licenses) were in the food production field, followed by the...

More Details

Business & Money | Wednesday 3 January, 2024 8:47 am

Group Five pens contract with Aramco worth over SAR 34M

Group Five Pipe Saudi Co. signed a contract with Saudi Arabian Oil Co. (Saudi Aramco) at a value that exceeds SAR 34 million (VAT inclusive). The deal includes manufacturing and supplying spiral-welded steel pipes tailored for one of the projects owned by Saudi Aramco in the Eastern Region of...

More Details

Business & Money | Wednesday 3 January, 2024 8:46 am

Alkhorayef Water inks SAR 87.2 mln contract with NWC

Alkhorayef Water and Power Technologies Co. (AWPT) signed a contract worth SAR 87.2 million (excluding VAT) with National Water Co. (NWC) for the operation and maintenance of water and sewage networks as well as their accessories in Buraidah, the company said in a statement to...

More Details

Business & Money | Wednesday 3 January, 2024 8:39 am

Qatar Takes the Helm: Presiding Over GCC Commercial Arbitration Centre

The GCC Commercial Arbitration Centre has stated that, commencing January 2024, the presidency of the Centre will be undertaken by the State of Qatar.  During the annual session of the Board of Directors, which initiates at the start of each calendar year and extends for a full year, His...

More Details

Business & Money | Wednesday 3 January, 2024 8:38 am

Blue Ocean’s Upskilling UAE Nationals Initiative Spurs Growth Opportunities For Local Talent

Blue Ocean Corporation, the Middle East’s biggest management training services brand’s initiative of upskilling UAE nationals as part of its 25th-year celebrations, has amassed an overwhelming response from corporate clients across government, semi-government, and private sectors. The program,...

More Details