Business & Money | Tuesday 21 November, 2023 9:35 am

Walaa gets SAMA nod on SAR 425 mln capital hike via rights issue

Saudi Central Bank (SAMA) approved the request received from Walaa Cooperative Insurance Co. to increase its capital by SAR 425 million through a rights issue, the insurer said in a statement to Tadawul today, Nov. 21.   Walaa added that any future developments will be announced,...

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Business & Money | Tuesday 21 November, 2023 9:30 am

ADES bags SAR 1.1 bln contracts in Algeria, Indonesia

ADES holding Co. was awarded a long-term contract (LOA) with Pertamina Drilling Services Indonesia to operate its existing jackup drilling rig in the Java Sea, Indonesia for Pertamina in Region 2, aligning with the company’s efforts to expand footprint in South East Asia, according ...

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Business & Money | Tuesday 21 November, 2023 9:25 am

Retal seals 2 agreements with NHC at SAR 925 mln

Retal Urban Development Co. signed on Nov. 20 sub-development agreements with National Housing Co. (NHC) to develop residential units in Riyadh and Jeddah at an estimated cost of SAR 925 million.  In two separate statements to Tadawul, Retal said the first agreement was sealed...

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Business & Money | Tuesday 21 November, 2023 9:19 am

PureHealth announces intention to list on ADX

PureHealth Holding PJSC (Public Joint Stock Company under incorporation) has announced its intention to proceed with an initial public offering (IPO) and subsequently list its shares on the Abu Dhabi Securities Exchange (ADX).Subject to obtaining regulatory approvals and other relevant...

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Business & Money | Tuesday 21 November, 2023 9:15 am

Dubai Taxi Company announces Offer Price Range, start of subscription period for IPO

Dubai Taxi Company (DTC) today announced the price range for the sale of its shares (Offer Price Range) and the start of the subscription period for its initial public offering (IPO). In a statement issued today by DTC, the company announced that the Offer Price Range had been set between...

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Environment & Energy | Tuesday 21 November, 2023 9:13 am

Mariam Almheiri calls on global leaders to unleash potential of food systems in fight against climate change

Today, Mariam bint Mohammed Almheiri, UAE Minister of Climate Change and Environment and COP28 Food Systems Lead, addressed the Global Food Security Summit in London, where she called on global leaders to find the will to work collectively and creatively to unleash the potential of food systems in...

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Culture & Education | Tuesday 21 November, 2023 9:05 am

Top business and government leaders graduate from MBZUAI's

Forty-two leaders from organizations in the UAE have become the fourth cohort to graduate from Mohamed bin Zayed University of Artificial Intelligence’s (MBZUAI) Executive Program (MEP). The executives spent 12 weeks with world-leading AI instructors immersed in the potential of AI to transform...

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Business & Money | Tuesday 21 November, 2023 8:56 am

Dur Hospitality Unveils Iconic Residential Compound in the Heart of Riyadh Darraq Al Hada: Quality Living Redefined

Dur Hospitality announced the inauguration of Darraq Al Hada Residential Compound, setting a new standard for quality living in the heart of Riyadh. Seamlessly blending Greek-inspired design with the latest amenities and entertainment facilities, this iconic development represents a new model of...

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Business & Money | Tuesday 21 November, 2023 8:51 am

Mashreq Provides Chalhoub Group with its Debut Sustainability-Linked Working Capital Facility, Reinforcing Commitment to ESG

Mashreq, a leading financial institution in the MENA region, has extended to Chalhoub Group its first Sustainability-Linked Working Capital Facility in a strategic move that underscores the growing importance of sustainable financing in the Middle East. This debut bilateral facility not only...

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Business & Money | Tuesday 21 November, 2023 8:46 am

Zain KSA sells GLIC stake to PIF for SAR 726 mln

Mobile Telecommunication Co. Saudi Arabia (Zain KSA) resold its remaining 20% stake in Golden Lattice Investment Co. (GLIC) to the Public Investment Fund (PIF) for SAR 726 million, Zain KSA said in a Tadawul statement.   GLIC’s core business is focused on providing wholesale...

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