11 Rabi' I 1445 - 26 September 2023
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Eye of Riyadh

Walaa Insurance board proposes SAR 425 mln rights issue to raise capital
Business & Money | Monday 18 September, 2023 7:00 am
The board of Walaa Cooperative Insurance Co. recommended, on Sept. 17, increasing the company’s capital through a SAR 425 million rights offering.    In a statement to Tadawul, the insurer pointed out that the capital increase aims to...
Naif Alrajhi Investment Clinches Prestigious Contract  to Develop District One in the King Salman Park Project
Business & Money | Sunday 17 September, 2023 1:00 pm
Naif Alrajhi Investment group has announced its winning of a real estate development contract for the first real estate investment land parcel in King Salman Park in Riyadh. The project is being undertaken in partnership with the King Salman Park Company for Investment and Real Estate Development,...
Sakani says 8,700 families received first homes in August
Business & Money | Sunday 17 September, 2023 11:47 am
Sakani Program stated that 10,250 families benefited from the program in August, with a rise of more than 23% compared with 8,303 in July.   In a statement, the program added that the number of families that received their first homes during the same month amounted to...
S&P affirms Saudi Arabia’s credit rating at A/A-1, stable outlook
Business & Money | Sunday 17 September, 2023 9:28 am
Standard & Poor's (S&P) affirmed its credit rating for Saudi Arabia in local and foreign currencies at “A/A-1” with a stable outlook in a recent report.    S&P maintained its credit rating, backed by the Kingdom’s efforts to proceed with significant...
RER concludes participation at Cityscape Global, unveils five-year plan and goals
Business & Money | Sunday 17 September, 2023 8:57 am
The Real Estate Registry (RER) has wrapped up its participation in Cityscape Global, hosted in Riyadh from September 10 to 13, 2023, with a Memorandum of Understanding. Revealing its targets for the next five years, RER also announced that nearly 80% of all properties across the Kingdom are ready...
Future Food Forum 2023 to continue pioneering advancement of F&B sector in the region
Business & Money | Sunday 17 September, 2023 8:40 am
UAE Food & Beverage Business Group (F&B Group), under the patronage of the UAE Ministry of Economy and Dubai Chamber of Commerce, announced the 5th edition of the Future Food Forum 2023, which continues to drive the progress of the F&B sector and symbolises the relentless efforts of key ...
ROSHN has SAR 10 bln cash to finance real estate projects: CEO
Business & Money | Saturday 16 September, 2023 2:44 am
ROSHN Real Estate Co., a wholly-owned subsidiary of the Public Investment Fund (PIF), has nearly SAR 10 billion in its balance sheet to finance real estate projects, CEO David Grover told Asharq. Although ROSHN has not yet withdrew the SAR 6 billion credit facilities secured from three local...
Safa Investment undertakes over SAR 4.5 bln projects: CEO
Business & Money | Saturday 16 September, 2023 1:55 am
Safa Investment Co. currently undertakes projects of over SAR 4.5 billion.   CEO Moath Alzaid told Argaam on the sidelines of the EFG Hermes Saudi Forum in London that Safa plans to supply a number of quality residential complexes and units, noting that the occupancy rate at...
UAE and China’s Hainan Province sign multiple deals to boost cooperation in priority sectors
Business & Money | Saturday 16 September, 2023 1:46 am
The UAE and China's Hainan Province have signed four major private-sector agreements aimed at boosting the rapidly expanding bilateral trade and investment ties. The signing ceremony took place during the Hainan Promotion Conference in Dubai, and was attended by Dr. Thani bin Ahmed Al Zeyoudi, ...
Aramco acquires Esmax, enters Latin America’s retail market
Business & Money | Saturday 16 September, 2023 1:42 am
Saudi Aramco agreed to purchase a 100% equity stake in Esmax Distribusción SpA (Esmax) from Southern Cross Group, a Latin America-focused private equity company.     Esmax is a leading diversified downstream fuels and lubricants retailer in Chile. Its national presence...