Business & Money | Saturday 3 August, 2024 12:17 pm

UAE, Azerbaijan agree to develop economic partnership

The ninth session of the UAE-Azerbaijan Joint Intergovernmental Commission (JIC) for Economic, Trade and Technical Cooperation between the two countries was held in the Azerbaijani city of Shusha, chaired by Abdullah bin Touq Al Marri, Minister of Economy; and his Azerbaijani counterpart Mikayil...

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Business & Money | Saturday 3 August, 2024 12:12 pm

Saudia Dairy and Foodstuff Co. Reports Strong Second Quarter Financial Results

 Saudia Dairy and Foodstuff Co. (SADAFCO), the leader in the UHT (Long Life) Milk, Ice Cream and Tomato Paste market in the Kingdom of Saudi Arabia reported a significantly higher net profit (19%) for the second quarter compared to the same quarter last year.  The company reported...

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Business & Money | Friday 2 August, 2024 10:46 am

Al Bawani studying plans to list on Tadawul: CEO

Al Bawani Co. is currently studying plans to list on the Saudi Exchange (Tadawul), CEO Fakher Al Shawaf told Asharq News.   This strategic move aligns with the company's growth objectives and is in line with Saudi Vision 2030 goals, Al Shawaf said.   He emphasized the...

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Business & Money | Friday 2 August, 2024 10:40 am

PIF signs MoUs worth SAR 187.5B with Chinese financial institutions

The Public Investment Fund (PIF) signed six memoranda of understanding (MoUs) worth up to $50 billion with leading financial institutions.   In a statement, of which Argaam received a copy, the fund said the MoUs were signed with the Agricultural Bank of China (ABC), Bank of China...

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Business & Money | Friday 2 August, 2024 10:25 am

Al Rajhi Takaful reappoints Abdullah Al Rajhi as Chairman, Saud Al Rajhi as Vice Chairman

Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) received, on July 31, the Insurance Authority’s (IA) non-objection on reappointing Abdullah Al Rajhi as chairman for the board of directors.   The authority also approved appointing Saud Al Rajhi as vice chairman for the ...

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Business & Money | Friday 2 August, 2024 10:22 am

Sports ministry invites bids for building 2 hotels at King Abdullah Sports City

The Ministry of Sports invited bids through the Furas platform for the establishment, operation, and maintenance of two hotels at King Abdullah Sports City, Jeddah.   On its official X account, the ministry said the project spans 15,900 square meters under a 35-year...

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Business & Money | Thursday 1 August, 2024 12:08 pm

UAE Accountability Authority participates in 4th BRICS Supreme Audit Institutions meeting

A delegation from the UAE Accountability Authority (UAEAA), led by its Chairman, Humaid Obaid Abushibs, participated in the 4th Meeting of the Heads of BRICS Supreme Audit Institutions (SAIs) in Russia. The meeting was organised by the Accounts Chamber of the Russian Federation under the theme ...

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Business & Money | Thursday 1 August, 2024 12:05 pm

GCC, Indonesia launches free trade agreement talks

The Gulf Cooperation Council (GCC) and Indonesia initiated negotiations for the Indonesia-GCC Free Trade Agreement (I-GCC FTA) at the Trade Ministry in Riyadh on Wednesday. The event was highlighted by the signing of a joint statement by Indonesian Trade Minister Zulkifli Hasan and GCC...

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Business & Money | Thursday 1 August, 2024 11:57 am

Masdar and TotalEnergies to Develop a Commercial Green Hydrogen to Methanol to SAF project in Abu Dhabi

 Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, has signed an agreement with TotalEnergies to assess the viability of developing a commercial green hydrogen to methanol to SAF (Sustainable Aviation Fuel) project. The focus of the project is to help...

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Business & Money | Thursday 1 August, 2024 10:31 am

SABIC maintains disciplined capex approach, focus on strategy

Saudi Basic Industries Corp. (SABIC) said it maintains a disciplined approach in managing capital expenditures (capex), expecting spending to range between $4 and $5 billion in 2024. The company estimated gross domestic product (GDP) growth in 2024 at 2.7%, focusing on improving its strategic...

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