Business & Money | Sunday 30 May, 2021 10:36 am

Alkhabeer Capital Announces the Commencement of the Subscription Period for the Second Additional Offering of Alkhabeer REIT Fund

Alkhabeer Capital, the asset manager specializing in Shari'a compliant investments and financial services, announced today the commencement of the subscription period for the second additional offering of Alkhabeer REIT Fund, a publicly offered closed-ended Shari’a-compliant real estate...

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Business & Money | Sunday 30 May, 2021 8:57 am

Saudi companies spent $47bn on capital expenditure in 2020

Companies listed on the Saudi Stock Exchange (Tadawul) spent SR177 billion ($47 billion) on capital expenditure (CAPEX) in 2020, equal to around 7 percent of the Kingdom’s gross domestic product (GDP), according to new research. The report by Dubai-based research portal Awalan found that...

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Business & Money | Thursday 27 May, 2021 8:25 am

World Tourism Organization opens first regional office in Riyadh

Secretary-General of UN World Tourism Organization (UNWTO) Zurab Pololikashvili and Minister of Tourism Ahmed Al-Khateeb on Wednesday inaugurated the first regional office of UNWTO in Riyadh. The new office will serve as a hub for UNWTO to coordinate policies and initiatives across 13...

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Business & Money | Thursday 27 May, 2021 8:23 am

Saudi Arabia, World Bank pledge $100mn fund to revive global tourism sector hit by COVID-19

Minister of Tourism Ahmed Al-Khateeb announced on Wednesday that Saudi Arabia, in partnership with the World Bank, has pledged $100 million to establish the International Fund for Comprehensive Tourism. The minister made the announcement during a session held on the sidelines of the...

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Business & Money | Wednesday 26 May, 2021 6:24 am

JAY NEW NAMED CEO OF KING ABDULLAH PORT

Ports Development Company (PDC), the owner and developer of King Abdullah Port, has announced the appointment of Jay New as the Chief Executive Officer (CEO) of the port.Welcoming Jay New, the Board of Directors of Ports Development Company said the new CEO would play a key role in accelerating...

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Business & Money | Tuesday 25 May, 2021 6:43 am

Saudi tourism fund signs deal to boost investments

The Saudi Tourism Development Fund (STDF) on Monday signed two agreements with the Arab National Bank (ANB) to increase the financing of tourism projects in the Kingdom. One agreement includes the provision of joint financing mechanisms between the two parties to support tourism projects in...

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Business & Money | Tuesday 25 May, 2021 6:24 am

Mastercard welcomes NEC Payments as a Global Partner of Fintech Express

Mastercard has announced that the Bahrain-based NEC Payments is now a global partner of Mastercard Fintech Express, which connects tech-savvy startups with traditional players such as banks. The program supports digital payment innovators by making it simple to collaborate with the tech company and ...

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Business & Money | Monday 24 May, 2021 8:33 am

Almarai's ‘Appreciate the Blessings’ campaign hits record numbers

Almarai's awareness campaign "Appreciate the Blessings" that was launched during the holy month of Ramadan has achieved significant interactions with the target audience on social media platforms, TV channels, and websites. The campaign addressed a group of creative ideas that reflect the...

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Business & Money | Monday 24 May, 2021 8:30 am

‘Airbnb of Saudi’ raises $6m funding to expand across KSA

Gathern, a Riyadh-based startup similar to Airbnb, announced on Sunday the completion of a SR22 million ($6 million) Series A funding round headed by Saudi venture capital firm STV and supported by existing investors Vision Ventures, 500 Startups, Saudi businessman Naef Sultan AlAthel, and ARG...

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Business & Money | Monday 24 May, 2021 8:27 am

Saudization program Nitaqat gets overhaul with launch of 2nd version

The second version of Nitaqat, the Saudi Ministry of Human Resources and Social Development’s (MHRSD) Saudization program, has been launched with a goal to provide 340,000 jobs by 2024. The new Nitaqat program, one of the most important pillars of the MHRSD strategic transformation...

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