Business & Money | Monday 2 September, 2024 10:35 am

Ministry of Industry issues ‘factory developer consultant’ license to improve production efficiency

Saudi Arabia’s Ministry of Industry and Mineral Resources launched a “factory developer consultant” licensing service within the industrial consulting licenses, to develop industrial facilities and their business, improve their production efficiency, and benefiting from the experience of...

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Business & Money | Monday 2 September, 2024 10:32 am

Meyar purchases new trucks for SAR 1.5M

Meyar Co. bought five new trucks (concrete mixers) for SAR 1.52 million (VAT inclusive, after signing a purchase contract with SANY International Development Trading Co. aimed at developing supply chains and efficiency ramp-up. In a statement to Tadawul today, Sept. 1, the company stated that...

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Business & Money | Monday 2 September, 2024 10:15 am

Riyadh Development Company Signs Acquisition Agreement for Two Real Estate Assets Worth SAR 1.4 Billion

Riyadh Development Company has announced the signing of a subscription and acquisition agreement with Remat Al-Riyadh Development Company today. The agreement involves the acquisition of two plots of land valued at SAR 1.4 billion through a capital increase in exchange for issuing new shares in...

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Government | Monday 2 September, 2024 8:52 am

Minister of Industry and Mineral Resources Begins Official Visit to Singapore

Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef begins today an official visit to the Republic of Singapore.The visit aims to strengthen industrial cooperation between the two countries, explore opportunities in automation and smart manufacturing solutions, and advance...

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Business & Money | Monday 2 September, 2024 8:25 am

Al Akaria’s Binyah wins SAR 660.4M Green Riyadh project

Saudi Real Estate Infrastructure Co. (Binyah), a subsidiary of Saudi Real Estate Co. (Al Akaria), was awarded the "Treated Water Network for the Green Riyadh Program—Package 11" project by the Royal Commission for Riyadh City (RCRC), at nearly SAR 660.36 million, including VAT. In a...

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Business & Money | Sunday 1 September, 2024 11:46 am

AED1.1 billion Islamic Treasury Sukuk issued for August 2024

The Ministry of Finance, as the issuing authority, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, announced the results of the AED1.1 billion Islamic Treasury Sukuk (T-Sukuk) Auction, which is part of the Islamic T-Sukuk issuance programme for August 2024 ...

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Business & Money | Sunday 1 September, 2024 11:44 am

Subscription to September issue of Sah to start tomorrow; return set at 5.31%

Subscription to the government-backed savings product for individuals (Sah) will start tomorrow, Sept. 1. Shariah-compliant securities are issued by the Saudi Ministry of Finance and arranged by the National Debt Management Center (NDMC).The return is...

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Business & Money | Sunday 1 September, 2024 11:21 am

ACWA Power hires financial advisors for capital hike

ACWA Power Co. appointed Citigroup Saudi Arabia, SNB Capital, and J.P. Morgan Saudi Arabia as financial advisors on Aug. 31.They will advise on the company’s rights issue to raise capital. The planned capital hike will support the company’s new growth strategy approved in 2023, which aims...

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Business & Money | Sunday 1 September, 2024 10:45 am

UAE chairs 114th session of Arab Economic and Social Council

The UAE is chairing the 114th regular session of the Arab Economic and Social Council (AESC), which will begin tomorrow, Sunday, and continue until next Thursday at the headquarters of the General Secretariat of the Arab League. The session will address issues of joint Arab cooperation in...

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Business & Money | Sunday 1 September, 2024 10:42 am

UAE supplies half of Japan’s oil imports in July

Japan’s oil imports from the UAE reached 31.07 million barrels, accounting for 49.1 percent of total imports in July 2024, according to data from the Agency for Natural Resources and Energy under Japan’s Ministry of Economy, Trade and Industry. The data shows that Japan imported...

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