Business & Money | Sunday 3 November, 2024 9:38 am

New Deloitte study explores the future of sports club privatization in Saudi Arabia and their path to profitability

As Saudi Arabia accelerates its drive to privatize sports entities, Deloitte Sports Business Group has released a new study offering critical insights for potential sports club owners and a roadmap toward sustainable, profitable ownership. The study reveals a four-phase approach aimed at...

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Business & Money | Sunday 3 November, 2024 9:35 am

Saudi Reinsurance Company "Saudi Re" Reports 351% Increase in Profits for the First 9 Months of 2024, Reaching SAR 475 Million

The Saudi Reinsurance Company "Saudi Re" has announced its financial results for the nine months ending September 30, 2024. The company achieved a net profit after zakat of SAR 475 million, marking an impressive increase of 351% compared to the same period last year. The financial results also...

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Business & Money | Sunday 3 November, 2024 9:30 am

The Sports Boulevard Masterplan has earned the world’s first ActiveScore Platinum Communities Certification.

The Sports Boulevard Foundation has received best-in-class recognition from active travel accreditation ActiveScore – one Platinum Communities Certification for the Sports Boulevard Masterplan and one Platinum Certification for the Global Sports Tower. The Sports Boulevard project aims to...

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Business & Money | Sunday 3 November, 2024 9:21 am

ACWA Power announces financial closing for aggregate USD 62 million for Nukus 1 wind project at FII8

ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, today announced the successful financial closure for senior and subordinated debt facilities worth USD 62 million for a key renewable energy project in Central...

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Business & Money | Friday 1 November, 2024 8:00 am

Global Trade and Infrastructure Summit at Logimotion to highlight connectivity and sustainable infrastructure

The upcoming Global Trade and Infrastructure Summit (GTIS), taking place from 10-11 December at Logimotion, will explore the complexities of global trade and infrastructure, bringing together experts from around the world.  Based on the theme: "Fostering Connectivity, Propelling Growth",...

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Business & Money | Friday 1 November, 2024 8:00 am

ADES completes acquisition of 2 jack-up rigs in Southeast Asia

ADES Holding Co. acquired two jack-up rigs from Vantage Drilling International Ltd. (Vantage Drilling) in Southeast Asia. The acquisition came after all conditions precedent under the agreements, signed in September, were satisfied, the company said in a statement to Tadawul. In...

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Business & Money | Friday 1 November, 2024 8:00 am

SNB plans SAR-denominated additional Tier 1 Sukuk issue

Saudi National Bank announced today, Oct. 31, its intention to issue SAR-denominated additional Tier 1 sukuk. In a statement to Tadawul, SNB said it mandated SNB Capital Co. as the sole book-runner, lead arranger, and lead manager for the proposed offer. The purpose of the potential offer ...

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Business & Money | Thursday 31 October, 2024 11:52 am

KoçSistem and SBM announce strategic partnership

Riyadh —  KoçSistem, a leading Turkish technology company with a long-standing history, is actively forming regional partnerships with global tech firms. The company has recently signed an agreement with Saudi Business Machines (SBM), Saudi Arabia’s leading provider of end-to-end...

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Business & Money | Thursday 31 October, 2024 10:34 am

Mayar’s subsidiary to manufacture elevators of Chinese firm in Saudi Arabia

Mayar Holding Co. said that its subsidiary, Gulf Elevators & Escalators Co. Ltd signed a partnership agreement with China’s Shenyang Yuanda Intellectual Industry Group Co. to manufacture its elevators and escalators products in Saudi Arbia.The company will also upgrade and develop the current ...

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Business & Money | Thursday 31 October, 2024 10:28 am

Aljazira Capital Partners with ATEL Capital Group and Guidance Investments to Launch Ijarah – A Shariah-Compliant Leasing Venture in Saudi Arabia

Aljazira Capital, a leading Saudi investment firm and subsidiary of Bank Aljazira, has entered a strategic partnership with ATEL Capital Group and Guidance Investments to launch, Ijarah, a groundbreaking Shariah-compliant operating lease business for essential equipment in Saudi Arabia. This joint...

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