Business & Money | Saturday 14 February, 2015 11:42 am

Saudi listed retail firms’ profits rise 10% to $2.7bn

Net profits of the listed retail firms grew by 10 percent to SR2.7 billion by the end of 2014 compared to SR2.5 billion in 2013, according to a financial report.The profit growth was mainly driven by the increased profits of five companies, namely Jarir Marketing, Saudi Automotive Services Co....

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Business & Money | Saturday 14 February, 2015 11:36 am

Microsoft targets more mobile-productivity app purchases

Microsoft CEO Officer Satya Nadella has a new strategy to make the company a purveyor of popular mobile applications: Acquire them.The software company is planning over the next few months to buy mobile-productivity applications that work on Apple and Google operating systems, according to people...

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Business & Money | Saturday 14 February, 2015 11:01 am

NCB Capital Launches AlAhli Freestyle Saudi Equity Fund

NCB Capital, the region’s leading wealth manager and the Kingdom of Saudi Arabia’s largest asset manager has launched the AlAhli Freestyle Saudi Equity Fund. The fund is an open-ended Shariah-compliant fund that aims to achieve superior growth in capital through a more concentrated investment...

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Business & Money | Friday 13 February, 2015 7:44 am

Drowsy driving put to sleep 4,000 motorists in one year

Recent statistics released by Riyadh’s General Directorate of Traffic show that 4,000 people died because of drowsy driving in Saudi Arabia in 2014.According to a study carried out by the directorate, 70 percent of these accidents occurred on highways, 40 percent of them on the Jeddah-Madinah...

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Business & Money | Thursday 12 February, 2015 3:24 pm

Ascott Expands Global Network with its First Foray into Fast-Growing Istanbul

CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has secured a contract to manage its first serviced residence in Turkey, Somerset Maslak Istanbul. Ascott's entry intoTurkey will expand the footprint of the world's largest international serviced residence...

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Business & Money | Thursday 12 February, 2015 3:04 pm

TOH PR named official PR agency for Lifestyle engineers, Archimedia

TOH Public Relations, the leading GCC consumer communications agency, is pleased to announce that it has been appointed by Archimedia as its retained PR agency for 2015. Celebrating its 10th anniversary, Archimedia is the region’s leading provider of lifestyle technologies, smart homes and...

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Business & Money | Wednesday 11 February, 2015 4:28 pm

APSCO holds its annual meeting and launches its strategy for 2015 under the slogan "I work at APSCO"

Arabian Petroleum Supply Company (APSCO) held it annual meeting at its headquarters in the industrial city in Jeddah, with the presence of Mr. Mohammad Alireza, the Managing Director, as well as a number of senior officials of ExxonMobil led by Mr. Michel Gozer, regional sales manager, in...

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Business & Money | Wednesday 11 February, 2015 4:04 pm

Saudi Print & Pack and Plastics & Petrochem 2015 highlighted during Jeddah press gala dinner

Under the patronage of the Saudi Ministry of Commerce and Industry, the 2015 Saudi Print & Pack and Saudi Plastics and Petrochem (Saudi PPPP) will take place from March 1 to 3, 2015 at the Jeddah Centre for Forums and Events. The Saudi Basic Industries Corporation (SABIC) will participate in the...

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Business & Money | Wednesday 11 February, 2015 1:05 am

SFC holds investment opportunities seminar for 2015

SFC held a number of seminars covering investment opportunities for 2015 available through Permal International funds, with the participation of number of its clients. The seminars were held last week in Riyadh and Jeddah, participants received explanation by Permal funds’ managers and discussed...

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Business & Money | Wednesday 11 February, 2015 1:04 am

Sharp increase in egg prices

Egg prices in the Kingdom are soaring in recent times, with poultry producers claiming this is part of the normal supply and demand cycle in the country.Local media monitored variations in retail and wholesale prices for eggs, with retail prices reaching SR18, and wholesale standing at SR16, over...

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