Business & Money | Monday 12 July, 2021 1:53 am

Zain KSA achieves Retained Earnings after extinguishing all accumulated losses

Zain KSA revealed its financial results for the second quarter of 2021, where it maintained profitability, posting net profit of SAR 42 million with revenues totaling SAR 1,896 million over the same period. The company indicated that it has seen retained earnings for the first time in its...

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Business & Money | Monday 12 July, 2021 1:48 am

Mastercard Economics Institute: Rebound in Ground Travel for Some Markets in Middle East & Africa; International Travel Lags Behind

 After flights were largely grounded and travelers stayed home in 2020, the return to travel has become one of the most anticipated—and uncertain—activities of 2021. Mastercard released Recovery Insights: Ready for Takeoff?, a view into key travel trends in the air and on the ground,...

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Business & Money | Monday 12 July, 2021 1:44 am

“Nadec” Products Reached 90% Consumers’ Trust in KSA

The National Agricultural Development Company (NADEC) has won as one of the most popular brands in the dairy sector in the Kingdom, and one of the strongest brands in the Fast-Moving Consumer Goods (FMCG) sector within the “Kantar World Panel” list, a company specialized in understanding...

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Business & Money | Sunday 11 July, 2021 9:31 am

Coming Soon: Union Coop’s Al Barsha South Center!

The work for the 22nd branch is said to be 100% complete and ready for opening this month    Union Coop – the largest Consumer Cooperative in the UAE recently revealed that it will soon be opening its ‘Commercial Center’ in Al Barsha South – 1, as a part of its grand...

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Business & Money | Sunday 11 July, 2021 3:29 am

RED SEA FUND RECEIVES ADDITIONAL $4M TO SUPPORT ARABIC FILMMAKERS

 The Red Sea International Film Festival has announced today that it will receive an additional $4 million to its Red Sea Fund from the Saudi Film Commission. The figure will support the development of 40 new compelling films from Saudi and Arab filmmakers. The Red Sea Film Festival...

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Business & Money | Thursday 8 July, 2021 9:10 am

$133 million deal signed to support Saudi entertainment sector

The General Entertainment Authority (GEA) signed a memorandum of understanding with the Social Development Bank (SDB), to provide soft financing amounting to a total of SR500 million ($133 million). The fund will provide quality investment opportunities to contribute to the growth and...

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Business & Money | Thursday 8 July, 2021 9:06 am

Fashion Commission names finalists for the Saudi 100 Brands program

The Kingdom’s Fashion Commission on Wednesday announced the finalists chosen to participate in its year-long Saudi 100 Brands program. The initiative will include training, advice and mentorship from experts in the fashion sector. The successful applicants were revealed during a ceremony at...

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Business & Money | Thursday 8 July, 2021 3:42 am

PIF’s Sanabil Investments increases share capital by 50% to $8bn

The Saudi Arabian Investment Company (Sanabil Investments) on Wednesday announced that its parent company, the Public Investment Fund, had approved increasing its share capital by 50 percent to SR30 billion ($8 billion). The Saudi Cabinet approved the establishment of Sanabil Investments in...

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Business & Money | Thursday 8 July, 2021 1:22 am

Applications surge for Microsoft for Startups’ GrowthX Accelerator programme, as deadline approaches

 Microsoft today called for startups across Saudi Arabia to act now and register their applications for its GrowthX Accelerator programme before the 7 July deadline, as interest in the initiative continued to surge across the region.Hailed as a major boost to the region’s vibrant startup...

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Business & Money | Thursday 8 July, 2021 12:20 am

88% of consumers in Saudi Arabia will opt for digital banking services over visiting a physical branch post Covid-19

 Consumer appetite for digital banking services continues to grow in the Kingdom of Saudi Arabia (KSA), accelerated further by the COVID-19 pandemic, according to a new survey conducted by Backbase with YouGov.Eighty-eight percent of respondents to the survey said that they are now more likely ...

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