Business & Money | Saturday 28 October, 2023 7:06 am

Saudia Hosts the 56th Annual General Meeting of the Arab Air Carriers' Organization (AACO)

Saudia, the national flag carrier of Saudi Arabia, will host the 56th Annual General Meeting of the Arab Air Carriers' Organization (AACO) during its fifty sixth session, scheduled to take place in Riyadh from October 30 to November 1, 2023. This event will be held under the patronage of His...

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Business & Money | Saturday 28 October, 2023 6:44 am

$17.9 bln investments pumped in FII

The 7th edition of the Future Investment Initiative (FII7) unveiled nearly $17.9 billion investments in various sectors.   These investments included the partnership announced between the Public Investment Fund (PIF) and Pirelli Tyre S.P.A. (Pirelli) to build a tire manufacturing...

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Business & Money | Saturday 28 October, 2023 6:42 am

PIF to reveal complementary auto projects soon: Official

Muhammad AlShiha, Head of Automotive and Mobility Sector at the Public Investment Fund (PIF), said complementary projects for the automobile industry will be announced soon, mainly the industry of batteries.   The fund has entered into the second phase of the automobile industry,...

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Business & Money | Saturday 28 October, 2023 2:21 am

NEW STRATEGIC AGREEMENT BETWEEN ROYAL COMMISSION FOR ALULA AND SAUDIA PRIVATE

The volume and size of private jets travelling to and from AlUla International Airport will be greatly increased thanks to a strategic agreement between the Royal Commission for AlUla (RCU) and the Saudia Private. As part of this new agreement, Saudia Private will take over operations and...

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Business & Money | Saturday 28 October, 2023 2:18 am

ROYAL COMMISSION FOR ALULA STREAMLINES LICENSING THROUGH THIQAH AGREEMENT

In a bid to streamline digital service delivery in AlUla, the Royal Commission for AlUla (RCU) has announced its service agreement with THIQAH, a PIF owned company specialising in smart business solutions, at the seventh edition of the Future Investment Initiative conference in Riyadh. Central to...

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Business & Money | Saturday 28 October, 2023 2:08 am

MAG WINS 8 AWARDS AT THE INTERNATIONAL PROPERTY AWARDS FOR ITS KETURAH RESERVE PROJECT

MAG, one of the leading real estate developers in the UAE, has been bestowed with eight awards at the renowned International Property Awards – Africa and Arabia 2023. These accolades recognise the outstanding Keturah Reserve development, highlighting its distinctive features and design, notably...

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Business & Money | Saturday 28 October, 2023 1:58 am

PIF unveils initiatives to support asset management industry

The Public Investment Fund (PIF) announced two initiatives to support the development of Saudi Arabia’s asset management industry. The announcements, made at PIF’s inaugural Asset Management Forum, included the PIF Managers Gate Platform and the Portfolio Management Development Program.,...

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Business & Money | Friday 27 October, 2023 1:33 am

UAEFTS processed AED10.997 trillion in transactions in 8 months

The total value of fund transfers between the UAE's banks amounted to AED10.997 trillion in the first eight months of the year, up 35.6 % from the same period last year, according to statistics released by the Central Bank of the United Arab Emirates.The transactions are made through the UAE Fund...

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Business & Money | Friday 27 October, 2023 1:25 am

ACWA Power to sign $246 mln financing for Azerbaijan wind project today

ACWA Power expects to sign 20-year, $246 million financing agreements for the wind project in Azerbaijan, which will add 240 megawatts (MW) of energy capacity.    The total investment cost stands at $347 million, of which 71% is non-recourse to the shareholders,...

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Business & Money | Friday 27 October, 2023 12:12 am

NEOM Green Hydrogen Company leadership transition

NEOM Green Hydrogen Company (NGHC) Chairman, Nadhmi Al-Nasr, announced today that following the successful financial close on the world’s largest green hydrogen plant, David Edmondson, CEO of NGHC, will return to Air Products and be succeeded by Wesam Y. Alghamdi. In this planned leadership...

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