Business & Money | Saturday 1 June, 2024 3:41 pm

Aramco completes acquisition of 40% stake in Gas & Oil Pakistan

Saudi Arabian Oil Co. (Saudi Aramco) completed the acquisition of a 40% stake in Gas & Oil Pakistan Ltd. (GO). In a statement, Saudi Aramco said the acquisition represents its downstream retail investment in Pakistan and signals the company’s growing retail presence in high-value...

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Business & Money | Saturday 1 June, 2024 3:36 pm

Saudi Building Code’s executive regulations amended

The Minister of Commerce and Chairman of the Saudi Standards, Metrology and Quality Organization (SASO), Majid Al-Kassabi, approved amendments to the executive regulations of the Saudi Building Code (SBC), which will come into effect from the date of its publication in the official...

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Business & Money | Saturday 1 June, 2024 3:31 pm

Al Saedan Real Estate acquires residential-commercial masterplan in Riyadh for SAR 2B

Al Saedan Real Estate Company announced the acquisition of a residential-commercial masterplan in the northeast of Riyadh, for nearly SAR 2 billion. The acquisition was completed through the establishment of a real estate investment fund in partnership with ANB Capital.   In a...

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Business & Money | Saturday 1 June, 2024 3:29 pm

Additional cases of VAT refund by real estate developers

The official Umm Al -Qura newspaper published today, May 31, additional cases to redeem value-added tax (VAT) by real estate developers.  The developers qualified for VAT redemption who deduct VAT from their purchases of goods or services related to real estate supplies can redeem the tax ...

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Business & Money | Saturday 1 June, 2024 2:51 pm

ACWA Power and Tunisian government sign MoU for major green hydrogen project

Saudi-listed ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, has signed a memorandum of understanding (MoU) with the Tunisian Government represented by the Ministry of Industry, Mines and Energy to explore the...

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Business & Money | Friday 31 May, 2024 2:29 am

Neo Space Group (NSG) partners with SES to deliver groundbreaking aviation industry-first inflight connectivity service to the global airline market

 Neo Space Group (NSG), a Public Investment Fund (PIF) global space services company, has joined forces with a global satellite communications operator SES, to bring the SES Open Orbits™ Inflight Connectivity network to the international airlines market. SES Open Orbits™ is an...

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Business & Money | Friday 31 May, 2024 12:32 am

Soudah Development & Warner Bros. Discovery International Sign Partnership to Showcase the Rich Heritage, Culture, and Natural Beauty of Soudah Peaks

Soudah Development and Warner Bros. Discovery International signed a one-year partnership agreement to promote and celebrate the distinctive nature, culture, and heritage of Soudah and parts of Rijal Almaa, a region situated in southwest Saudi Arabia. This collaboration will focus on raising...

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Business & Money | Friday 31 May, 2024 12:29 am

ROSHN Unveils WAREFA’s Show Villas

ROSHN Group, Saudi Arabia’s leading real estate developer and PIF-owned giga project, has inaugurated a range of show villas, townhouses, and duplexes at WAREFA, its first community development in East Riyadh. Following the project's groundbreaking ceremony, held under the patronage of His Royal...

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Business & Money | Friday 31 May, 2024 12:20 am

Tawuniya repurchases 147,400 shares for SAR 17.1M

The Company for Cooperative Insurance (Tawuniya) announced the completion of the repurchase of shares allocated for the employee long-term stock incentive plan.   In a statement to Tadawul, the company pointed out that the repurchase was limited within a maximum period of 12...

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Business & Money | Thursday 30 May, 2024 9:36 am

Saudi Arabia to launch Aramco’s secondary offering on June 2: Report

Saudi Arabia is set to formally launch a secondary offering of Saudi Aramco on June 2, Bloomberg reported, citing unnamed sources with knowledge of the matter. The government plans to run a book-building process to gather investor orders until June 6. The stock sale has already...

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