Business & Money | Friday 5 January, 2024 12:46 am

ADIB Digital Factory adopts generative AI to elevate productivity and efficiency

Abu Dhabi Islamic Bank, a leading financial institution, announces the implementation of "GitHub Copilot for Business," an AI-powered tool set to revolutionise operations within the bank. This innovative technology aims to elevate productivity and efficiency by harnessing generative AI capabilities ...

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Business & Money | Thursday 4 January, 2024 9:03 am

KEIR, National Grid SA sign SAR 14.05M contract

KEIR International Co. signed today, Jan. 3, a SAR 14.05 million contract with the National Grid-SA to implement a cable circuit replacement project at a station in Riyadh, according to a statement to Tadawul.    The company will provide a 132-kilovolt...

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Business & Money | Thursday 4 January, 2024 9:00 am

ACWA Power starts Sudair Solar PV phase 3 commercial operation

ACWA Power Co. received on Jan. 3 the commercial operation certificate from the Saudi Power Procurement Co. (SPPC) for the third and last phase of the Sudair Solar Photovoltaic (PV) project.   In a statement to Tadawul, ACWA Power pointed out that phase 3 includes 25% of the...

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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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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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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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