Business & Money | Saturday 27 July, 2024 6:29 am

China's Baosteel doubles investment in steel plates in Saudi Arabia to $1B

China's biggest listed steelmaker, Baoshan Iron and Steel Co. (Baosteel) has doubled its investment in the steel plate manufacturing complex in Saudi Arabia to reach $1 billion.  According to Bloomberg, the company announced that it will own a 50% stake in the joint venture. Saudi...

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Business & Money | Saturday 27 July, 2024 6:26 am

SABIC to disclose Q2 2024 earnings in press conference on Aug. 1

Saudi Basic Industries Corp. (SABIC) will hold a press conference on Aug. 1 to discuss the company’s Q2 2024 performance and financial results.   According to consensus estimates, SABIC is forecast to record a net profit of SAR 759.61 million in Q2 2024, compared to SAR 1.2 billion ...

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Business & Money | Saturday 27 July, 2024 6:20 am

Riyadh Development says asset valuation for Dirah district development stands at SAR 1.5B

Riyadh Development Co. said that the average asset valuation exercise for the proposed partnership with Riyadh Holding Co. to develop Dirah district amounts to SAR 1.5 billion (fair value based on latest valuation).   The new entity’s portfolio comprises commercial centers on a...

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Government | Saturday 27 July, 2024 6:18 am

TGA says Kingdom’s trains transport 9.3M passengers, 6.9M tons of goods in Q2 2024

The Transport General Authority (TGA) announced record numbers for the Kingdom's trains, as passengers surpassed 9.3 million during the second quarter of 2024, with a growth rate of 13%.  In a statement, TGA clarified that the Kingdom's trains transported 2.42 million passengers between...

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Business & Money | Saturday 27 July, 2024 6:16 am

SAMA Governor: International trade restrictions threaten global economy in medium term

Ayman Al-Sayari, Governor of the Saudi Central Bank (SAMA), said the key risks facing the global economy in the medium term include rising geopolitical conflicts, growing concerns about economic fragmentation among world economies, and the implications of increasing restrictions on international...

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Business & Money | Saturday 27 July, 2024 6:03 am

flynas signs agreement to buy 160 Airbus aircraft

Saudi Arabia’s leading low-cost carrier flynassigned an agreement with Airbus to buy 160 new aircraft, increasing its total orders to 280 over seven years, which marks one of the largest aircraft orders in the region.   According to the agreement, flynas confirmed that the 160...

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Technology & IT | Friday 26 July, 2024 6:36 pm

Embracing GenAI Solutions in the Era of Hybrid Multi-cloud

In the rapidly evolving technological landscape, the excitement around generative AI (GenAI) solutions is obvious and highly evident. Customers worldwide, including government entities, FSI & mega enterprises in Saudi Arabia, are eager to harness the transformative potential of GenAI. However,...

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Business & Money | Friday 26 July, 2024 1:34 pm

ThinkMarkets Integrates with TradingView

London - ThinkMarkets, a leading multi-asset trading provider, has recently announced the integration of its proprietary trading platform ThinkTrader with TradingView. The partnership allows ThinkMarkets’clients to connect their ThinkTrader trading accounts to TradingView – enabling them to...

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Technology & IT | Friday 26 July, 2024 12:57 am

New phishing scheme combining spear phishing tactics in mass phishing campaigns

Kaspersky experts have identified a new phishing attack trend where elements of spear phishing are being used in bulk campaigns. Traditional bulk phishing emails target large audiences with generic messages, often rife with typos and simplistic formatting. In contrast, spear phishing involves...

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Business & Money | Friday 26 July, 2024 12:32 am

DMCC announces 9% growth in membership of Chinese companies during H1 2024

The Dubai Multi Commodities Centre (DMCC) has announced 9 percent growth in its intake of companies from China in the first half of 2024, taking the total number of Chinese members in its free zone to 900. The announcement came as DMCC concluded its latest Made For Trade Live roadshow in...

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