Tourism & Hospitality | Sunday 19 January, 2025 9:53 am

Hilton and Saudi Tourism Authority Launch International Destination Campaign to Showcase Saudi Arabia's Diverse Travel Experiences

Hilton (NYSE: HLT) and the Saudi Tourism Authority (STA) have partnered to showcase the diverse travel experiences tourists can enjoy in Saudi Arabia through an engaging creative content campaign.  In a first-of-its-kind collaboration, short films and photos have been creatively produced...

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Business & Money | Sunday 19 January, 2025 9:28 am

Bahri signs USD 800 million Murabaha Revolving Credit Facility agreement with Al Rajhi Bank

Bahri, the National Shipping Company of Saudi Arabia and a global leader in shipping and logistics, has signed a Murabaha Revolving Credit Facility agreement of USD 800 Million (equivalent to SAR 3 billion) with Al Rajhi Bank. The move is aimed at supporting and strengthening Bahri’s financial...

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Business & Money | Saturday 18 January, 2025 12:33 pm

ACWA Power wins desalination plant project in Azerbaijan

A consortium, including ACWA Power Co. and Turkey's IC Ictas, won a project from the government of Azerbaijan to build a seawater desalination project using reverse osmosis technology in the Caspian Sea.   In a statement, ACWA Power said the project is to establish a facility capable ...

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Business & Money | Saturday 18 January, 2025 12:31 pm

MODON signs deals worth over SAR 2.3B

The Saudi Authority for Industrial Cities and Technology Zones (MODON) signed industrial contracts worth over SAR 2.3 billion during the Future Minerals Forum (FMF).   The agreements aim to empower the mining industries in line with the Kingdom's Vision 2030, which seeks to make the...

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Business & Money | Saturday 18 January, 2025 12:28 pm

Saudi economy expected to grow 3.3% in 2025: IMF

Saudi Arabia’s economy is expected to grow by 3.3% and 4.1% in 2025 and 2026, respectively, a new report released by the International Monetary Fund (IMF) showed. The fund raised the 2025 growth forecasts from 4.6% previously in October due to extending the OPEC+ output reduction...

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Business & Money | Thursday 16 January, 2025 10:34 am

Aramco, Maaden plan transition minerals JV, commercial production likely in 2027

Saudi Arabian Oil Co. (Aramco) and Saudi Arabian Mining Co. (Maaden) announced today, Jan. 15, the signing of non-binding heads of terms for the formation of a minerals exploration and mining joint venture (JV) in the Kingdom. The proposed JV will focus on energy transition minerals,...

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Business & Money | Thursday 16 January, 2025 10:23 am

Bank AlJazira completes SAR 1B AT1 sukuk issuance

Bank AlJazira completed the offering of its SAR-denominated additional Tier (AT) 1 sukuk, under the Tier 1 Issuance program worth SAR 5 billion, the bank said in a statement on Tadawul.   The current offering amounted to SAR 1 billion and was settled on Jan. 15. Sukuk...

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Business & Money | Thursday 16 January, 2025 10:20 am

Maaden signs SAR 3.5B contracts to develop 3rd phosphate fertilizer project

Saudi Arabian Mining Co. (Maaden) signed a bundle of contracts related to the development of the third project for manufacturing phosphate fertilizers, with a value of SAR 3.5 billion. Maaden announced on Tadawul that key contracts for its third phosphate fertilizer project include: Ras...

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Business & Money | Thursday 16 January, 2025 10:16 am

Al Akaria secures SAR 700M credit facility with Bank AlJazira

Saudi Real Estate Co. (Al Akaria) obtained Shariah-compliant credit facilities with Bank AlJazira at a total value of SAR 700 million. The facilities included a one-year short term financing as well as a long-term credit facility spanning 10 years, Al Akaria said in a...

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Business & Money | Wednesday 15 January, 2025 11:50 am

Saudi Arabia's mining sector becomes the ‘fastest growing’ worldwide: Minister

Saudi Arabia's mining sector has become the fastest growing in the world, driven by Vision 2030, said Bandar Alkhorayef, Minister of Industry and Mineral Resources. Saudi Arabia is working on offering new mining exploration opportunities across 5,000 square kilometers of promising mineral...

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