Government | Wednesday 17 July, 2024 11:21 am

Cabinet approves national minerals program

The Cabinet approved today, July 16, the development of a national minerals program, which will be linked to the Ministry of Industry and Mineral Resources.  The Cabinet also approved the extension of the Jeddah Historic Project for an additional two years. ...

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Business & Money | Wednesday 17 July, 2024 11:17 am

Saudi Re gets regulatory approval on capital hike

Saudi Reinsurance Co. (Saudi Re) has received the approval of the Insurance Authority on the capital increase, while suspending the pre-emptive rights. The Public Investment Fund (PIF) will fully subscribe to the new shares, bringing its ownership in the company to 23.08% after the capital...

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Business & Money | Wednesday 17 July, 2024 11:15 am

Jadwa Investment acquires majority stake in Tikkaway Restaurants in Saudi Arabia

Jadwa Investment has announced its latest private equity investment in the food and beverage (F&B) industry by acquiring a majority stake in Tikkaway Restaurants, marking Jadwa's first acquisition in the Kingdom’s restaurant sector.   In a statement to Argaam, the company...

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Business & Money | Wednesday 17 July, 2024 11:14 am

Tibbiyah’s subsidiary wins 2 contracts worth SAR 198.7M with NUPCO

Arabian International Healthcare Holding Co.’s (Tibbiyah) subsidiary, International Medical Supplies Co. (Premma Health), won two supply-upon-request contracts worth SAR 198.69 million with National Unified Procurement Co. (NUPCO). In a statement to Tadawul, Tibbiyah said Premma Health will...

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Government | Wednesday 17 July, 2024 11:12 am

Industry Ministry explains National Minerals Program tasks, impact

The Cabinet issued a decision, on July 16, to establish the National Minerals Program under the umbrella of the Ministry of Industry and Mineral Resources. The Ministry said in a statement on X platform that the most prominent tasks of the program include the quality and sufficiency of...

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Business & Money | Wednesday 17 July, 2024 11:10 am

ACWA Power sells 35% of stake in 2 subsidiaries for SAR 595.9M

ACWA Power signed on July 16 a sale and purchase agreement to sell 35% of its shareholding in ACWA Power Bash Wind Project Holding Co. Ltd. and ACWA Power Uzbekistan Wind Project Holding Co. Ltd. to China Southern Power Grid International Co. Ltd. In a statement to Tadawul, the...

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Business & Money | Wednesday 17 July, 2024 11:09 am

PIF launches 3 new renewable energy JVs

The Public Investment Fund (PIF) signed today, July 16, three new agreements to localize in Saudi Arabia the manufacturing and assembly of equipment and components needed for solar and wind power.   These agreements have been entered into by the Renewable Energy Localization Company...

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Business & Money | Wednesday 17 July, 2024 10:15 am

Ministry offers 100 enablers, incentives to industrial, mining investors

Minister of Industry and Mineral Resources Bandar Alkhorayef said that the industry and mineral resources system offers up to 100 capabilities and incentives to investors in the industrial and mining sectors.   Alkhorayef explained during a strategic workshop organized by the Private ...

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Business & Money | Wednesday 17 July, 2024 8:00 am

Entering the Silver and Gold Markets with Swagger

In the first few months of 2024, gold and silver prices were in extremely bullish mood. In April this year, gold actually managed to set a new price record, while silver almost topped its three-year peak. Analysts are struggling to understand the forces motivating the bull run because US interest...

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Tourism & Hospitality | Tuesday 16 July, 2024 4:25 pm

Rocco Forte Hotels Welcomes Saudi Tourists with ITA Airways' New Direct Flight from Rome to Riyadh

In a landmark development, ITA Airways has launched its first direct flight from Rome to Riyadh, significantly enhancing air connectivity and tourism between Italy and Saudi Arabia. In parallel with this exciting launch, Rocco Forte Hotels is delighted to welcome tourists from the Kingdom of Saudi...

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