Business & Money | Wednesday 29 November, 2023 9:34 am

Kingdom Holding buys Prince Alwaleed’s shares in Citigroup for SAR 1.7B

Kingdom Holding Co. (KHC) acquired the shares owned by Chairman Prince Alwaleed bin Talal in Citigroup for SAR 1.69 billion ($449.57 million).    Accordingly, KHC raised its stake in Citigroup to 2.2% from 1.63%, the company said in a statement to Tadawul, adding that the deal...

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Business & Money | Wednesday 29 November, 2023 7:49 am

Multiple New Hedge Funds Establish in DIFC, Reconfirming Dubai’s Position as a Top Global Hub for Industry

Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, today confirmed that unprecedented numbers of hedge funds continue to set up in the Centre, boosting Dubai’s reputation as the region’s top location for the...

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Business & Money | Tuesday 28 November, 2023 3:44 pm

Turn up the festive spirit with a magical tree lighting Ceremony at FORM Hotel

Nothing gets you into the spirit of Christmas than a good old Christmas carols, and a tree lighting ceremony. So, get ready for a cozy and magical evening of holiday cheer and festivities at FORM Hotel Christmas Tree Lighting Ceremony on December 8, 2023, at...

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Business & Money | Tuesday 28 November, 2023 12:52 pm

MIS secures 81.6M project with Ministry of Justice

Al Moammar Information Systems Co. (MIS) won a project worth SAR 81.6 million, including VAT, with the Ministry of Justice.   The primary objective of the project is to offer technical support, thereby improving the performance of the ministry's programs and systems, MIS said in ...

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Business & Money | Tuesday 28 November, 2023 12:50 pm

PIF raises $5B from syndicated loan

The Public Investment Fund (PIF) and Korea Trade Insurance Corporation (K-SURE) signed today, Nov. 28, a financing agreement through which PIF has secured a term loan, from a syndicate of nine top international lenders, covered by K-SURE.   The financing carries a door-to-door tenor...

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Business & Money | Tuesday 28 November, 2023 12:39 pm

Over 176,000 Saudis employed in past year: Minister

Over the last 12 months, more than 176,000 Saudis found employment through the Nitaqat Mutawar Program, Ahmad Al-Rajhi, Minister of Human Resources and Social Development, said during the 13th Social Dialogue Forum.   This development elevated the total number of Saudis employed...

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Business & Money | Tuesday 28 November, 2023 10:30 am

Taj Dhabi awarded two new developments in KAFD

Taj Dhabi, a subsidiary of Trojan Construction Group, has been awarded the Design and Build contract for two new developments in KAFD, Saudi Arabia’s prime business district, located in the heart of Riyadh. Marking the occasion with a signing ceremony at KAFD were Gautam...

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Business & Money | Tuesday 28 November, 2023 9:48 am

Azizi Developments renews its partnership with US-based Cummins Inc. for another six buildings in Riviera

Azizi Developments, a leading private developer in the UAE, has renewed its partnership with the American global leader in the design, manufacturing, distribution, and supply of a wide range of power solutions, Cummins Inc, for six buildings within the fourth phase of its mega-project Riviera in...

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Business & Money | Tuesday 28 November, 2023 9:28 am

Steering decarbonisation in construction, Big 5 Global continues its towering success in the ‘Year of Sustainability’

The 44th edition of Big 5 Global, supported by the UAE Ministry of Energy & Infrastructure, will bring together global leaders in construction, industry professionals, regulators, and innovators from 4 to 7 December 2023, at the Dubai World Trade Centre. Together, they will provide a...

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Business & Money | Tuesday 28 November, 2023 9:07 am

Farnek obtains full ESCO accreditation from Dubai’s RSB ahead of COP28

Leading UAE-based smart and green facilities management company Farnek has been granted full accreditation as an Energy Services Company (ESCO) from Dubai’s Regulatory & Supervisory Bureau (RSB).   The RSB was established in 2010 and works under the auspices of the Dubai...

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