Business & Money | Saturday 31 August, 2024 4:15 am

UK's Virgin set to obtain first foreign airline license in KSA

Saudi Arabia intends to start licensing foreign airlines to operate in the local market, to strengthen the Kingdom's position in the global aviation network and help achieve its foreign tourism targets, Al Eqtisadiah newspaper reported.   Virgin Atlantic will be the first foreign...

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Business & Money | Saturday 31 August, 2024 3:30 am

14 Raydan board members, employees convicted of violating Capital Market Law; fined SAR 128M

The Capital Market Authority (CMA) announced that the Appeal Committee for Resolution of Securities Disputes (ACRSD) issued a final decision, convicting 14 board members and employees of Raydan Food Co. of violating the Capital Market Law. They were ordered to pay more than SAR 77 million for the...

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Business & Money | Friday 30 August, 2024 6:56 am

Red Sea Global Launches Saudi Arabia’s Second Water Aerodrome

Red Sea Global (RSG), the developer behind the regenerative tourism destinations The Red Sea and AMAALA, has secured its second operating license for a water aerodrome, this time for Shebara resort at The Red Sea.   “This license is one of the final steppingstones toward opening...

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Government | Friday 30 August, 2024 6:54 am

King Salman issues royal orders

King Salman bin Abdulaziz Al Saud issued today, Aug. 29, royal orders, including the following:   Lieutenant General Fahd Al-Ghafili, Commander of the Royal Saudi Naval Forces, was relieved of his post and was appointed as Deputy Chairman of the General Staff.   The...

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Business & Money | Friday 30 August, 2024 6:52 am

NHC sales hit SAR 13.5B in H1 2024

National Housing Co. (NHC) said its sales of residential units reached SAR 13.5 billion, with more than 13,000 houses sold in the first half of 2024, a four-fold spike compared to last year's sales volume, the Saudi Press Agency reported.   The Central Province accounted for most of...

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Tourism & Hospitality | Friday 30 August, 2024 6:47 am

Unified GCC tourist visa to attract 129M visitors by 2030: Report

The unified GCC tourist visa will likely have an impact similar to the European Schengen visa, a report issued by Travel and Tour World website said.The GCC countries intend to launch the unified tourist visa by December 2024, which will help the region attract about 129 million visitors by 2030,...

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Business & Money | Friday 30 August, 2024 4:49 am

MIS awarded SAR 104.7M project by RCJY

Al Moammar Information Systems Co. (MIS) was awarded today, Aug. 29, a project by the Royal Commission for Jubail and Yanbu's (RCJY) General Administration of Jubail Project, at a value of SAR 104.73 million (including VAT).   In a statement to Tadawul, the company said the scope of...

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Business & Money | Thursday 29 August, 2024 5:08 pm

Riyadh Prepares to Host the EV Auto Show in September 2024

The third edition of the EV Auto Show 2024 is set to take place from September 17th to 19th at the Riyadh International Convention & Exhibition Center. This year’s event is expected to be the largest of its kind in Saudi Arabia, featuring over 40 local and international companies specializing ...

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Business & Money | Thursday 29 August, 2024 11:58 am

Petro Rabigh signs modified agreements on revolving shareholders loans of Aramco, Sumitomo

Rabigh Refining and Petrochemical Co. (Petro Rabigh) signed, on Aug. 28, modified agreements on revolving shareholders loans (RSLs) provided by its founding shareholders, Saudi Aramco and Sumitomo Chemical Co., which were previously announced by Petro Rabigh on Oct. 1, 2020. Under these...

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Technology & IT | Thursday 29 August, 2024 10:51 am

HONOR Announces the Pre-order of the Thinnest & Lightest AI Foldable Phone HONOR Magic V3

Global technology brand HONOR announced the pre-order of the next generation of its flagship foldable, the HONOR Magic V3. Following the hugely successful HONOR Magic V2, the HONOR Magic V3 raises the bar even higher by combining a new levels of slimness, style, performance, and cutting-edge AI...

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