Business & Money | Thursday 4 January, 2024 8:53 am

Tasnee sees 2.5% rise in associates’ cost of sales on feedstock price hike

National Industrialization Co. (Tasnee) was notified by Saudi Aramco about an increase in some feedstock prices starting from Jan. 1.   In a statement to Tadawul, Tasnee said it expects a 2.5% rise in the total cost of sales of associates and joint ventures, according to the latest...

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Business & Money | Wednesday 3 January, 2024 2:08 pm

Saudi Real Estate Refinance Company (SRC) Extends its Refinancing Agreement with Alrajhi Bank with an Additional SAR 5.8 billion

The Saudi Real Estate Refinance Company (SRC), wholly owned by the Public Investment Fund (PIF), has extended its refinancing agreement with Alrajhi Bank, the world’s largest Islamic bank by mortgage assets and market cap, with an additional SAR 5.8 billion bringing the total value of refinancing ...

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Culture & Education | Wednesday 3 January, 2024 1:34 pm

Discover Boundless Opportunities at the International University Expo in Riyadh, Saudi Arabia

Mark your calendars for an exceptional educational event! The International University Expo is set to take place on January 30 - 31, 2024, at the Makarim Convention Centre, Marriot Hotel in Riyadh, Saudi Arabia. The Expo is a dedicated event on higher education to explore academic opportunities...

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Business & Money | Wednesday 3 January, 2024 1:00 pm

Forbes Middle East Unveils The Middle East’s Top 100 CEOs 2023

Forbes Middle East has released its third annual list of the Top 100 CEOs in the Middle East, spotlighting the business heads that are running the region’s biggest and most influential homegrown companies. Combined, the 100 CEOs managed revenues of over $1 trillion in 2022. Their firms are...

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Technology & IT | Wednesday 3 January, 2024 10:39 am

HONOR Announces the Official Availability of the New HONOR X7b in KSA

Global technology brand HONOR announced the official of the HONOR X7b in KSA. Featuring a large 256GB storage, long-lasting 6,000mAh battery[1], 108MP Superior Main Camera[2], and an Ultra-Bright Display, the HONOR X7b provides extended battery life and impressive hardware that caters to a variety...

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Business & Money | Wednesday 3 January, 2024 9:52 am

Azizi Developments announces 8,834 units sold in 2023 with 6,069 scheduled completions in 2024

Azizi Developments, a leading private developer in the UAE, is closing 2023 on a high note, having completed 7,699 units, and having sold 8,834 homes, translating to a 16.5% increase in sales compared to the year prior. Azizi has already committed to deliver 6,069 residences across 22 buildings in...

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Business & Money | Wednesday 3 January, 2024 8:55 am

Saudi insurance sector to see accelerated M&A activity in coming years: Al-Issa

Adel Al-Issa, the spokesman for insurance companies in Saudi Arabia, said mergers and acquisitions (M&As) are deemed a strategic option for insurance companies in the Kingdom, especially medium and small ones, driving long-term durability and more market competition.   Speaking...

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Business & Money | Wednesday 3 January, 2024 8:52 am

TASNEE overcame difficulties, begins recovery: CEO

National Industrialization Co. (Tasnee) went through difficulties and began the recovery phase, as it succeeded in slashing loans from SAR 27 billion to less than SAR 10 billion currently, said CEO Mutlaq Al-Morished.    In an interview with Al-Ekhbariya TV, the CEO...

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Business & Money | Wednesday 3 January, 2024 8:49 am

Industry Ministry issues 158 industrial licenses worth SAR 11.5B in October

The Ministry of Industry and Mineral Resources issued 158 new industrial licenses in October, at a total investment value of SAR 11.5 billion. The new licenses covered five industrial activities, the majority of which (or 31 licenses) were in the food production field, followed by the...

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Business & Money | Wednesday 3 January, 2024 8:47 am

Group Five pens contract with Aramco worth over SAR 34M

Group Five Pipe Saudi Co. signed a contract with Saudi Arabian Oil Co. (Saudi Aramco) at a value that exceeds SAR 34 million (VAT inclusive). The deal includes manufacturing and supplying spiral-welded steel pipes tailored for one of the projects owned by Saudi Aramco in the Eastern Region of...

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