Business & Money | Saturday 31 August, 2024 3:30 am

14 Raydan board members, employees convicted of violating Capital Market Law; fined SAR 128M

The Capital Market Authority (CMA) announced that the Appeal Committee for Resolution of Securities Disputes (ACRSD) issued a final decision, convicting 14 board members and employees of Raydan Food Co. of violating the Capital Market Law. They were ordered to pay more than SAR 77 million for the...

More Details

Business & Money | Friday 30 August, 2024 6:56 am

Red Sea Global Launches Saudi Arabia’s Second Water Aerodrome

Red Sea Global (RSG), the developer behind the regenerative tourism destinations The Red Sea and AMAALA, has secured its second operating license for a water aerodrome, this time for Shebara resort at The Red Sea.   “This license is one of the final steppingstones toward opening...

More Details

Business & Money | Friday 30 August, 2024 6:52 am

NHC sales hit SAR 13.5B in H1 2024

National Housing Co. (NHC) said its sales of residential units reached SAR 13.5 billion, with more than 13,000 houses sold in the first half of 2024, a four-fold spike compared to last year's sales volume, the Saudi Press Agency reported.   The Central Province accounted for most of...

More Details

Business & Money | Friday 30 August, 2024 4:49 am

MIS awarded SAR 104.7M project by RCJY

Al Moammar Information Systems Co. (MIS) was awarded today, Aug. 29, a project by the Royal Commission for Jubail and Yanbu's (RCJY) General Administration of Jubail Project, at a value of SAR 104.73 million (including VAT).   In a statement to Tadawul, the company said the scope of...

More Details

Business & Money | Thursday 29 August, 2024 5:08 pm

Riyadh Prepares to Host the EV Auto Show in September 2024

The third edition of the EV Auto Show 2024 is set to take place from September 17th to 19th at the Riyadh International Convention & Exhibition Center. This year’s event is expected to be the largest of its kind in Saudi Arabia, featuring over 40 local and international companies specializing ...

More Details

Business & Money | Thursday 29 August, 2024 11:58 am

Petro Rabigh signs modified agreements on revolving shareholders loans of Aramco, Sumitomo

Rabigh Refining and Petrochemical Co. (Petro Rabigh) signed, on Aug. 28, modified agreements on revolving shareholders loans (RSLs) provided by its founding shareholders, Saudi Aramco and Sumitomo Chemical Co., which were previously announced by Petro Rabigh on Oct. 1, 2020. Under these...

More Details

Business & Money | Thursday 29 August, 2024 10:41 am

MoEI collaborates with RAK Petroleum Authority to drive transition to sustainable energy

The Ministry of Energy and Infrastructure (MoEI) and the Ras Al Khaimah Petroleum Authority (RAKPA) have entered into a Memorandum of Understanding to strengthen their partnership within the energy sector. The MoU was signed by Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs...

More Details

Business & Money | Thursday 29 August, 2024 10:33 am

Rasan subsidiary gets IA nod to provide insurance for leased cars

Rasan Information Technology Co.’s (Rasan) subsidiary, Tameeni, received, on Aug. 19, the approval of the Insurance Authority (IA) to sell a comprehensive insurance product specifically designed for leased vehicles, according to a statement to Tadawul. The new product will allow Tameeni to...

More Details

Business & Money | Thursday 29 August, 2024 10:31 am

Elm inks partnership agreement with Al-Ahsa Development Authority

Al-Ahsa Development Authority signed a partnership agreement with Elm Co., under which the company will provide consulting services related to building digital capabilities, enabling the digital transformation process in the Authority, and providing the skills and competencies necessary to develop...

More Details

Business & Money | Thursday 29 August, 2024 10:27 am

Boulevard Business Park launched in Riyadh with over SAR 1B investments

Turki Al-Sheikh, Chairman of the General Entertainment Authority (GEA), announced the launch of Boulevard Business Park within Boulevard City, as a first phase of the urban plan to redevelop and reorganize the Boulevard District. The project’s investments exceed SAR 1 billion, Al-Sheikh said ...

More Details