Business & Money | Wednesday 20 December, 2023 10:22 am

DAMAC’s Cavalli Tower keeps pace with completion

DAMAC, a leading luxury real estate developer based in Dubai, announced that construction of the world’s first Cavalli-branded tower is advancing as planned.  Excavation for the 71-storey tower began in January 2023, before progress was swiftly made on substructure works by April 2023....

More Details

Business & Money | Wednesday 20 December, 2023 10:19 am

Saudi Arabia recalculates mineral wealth, new value to be unveiled in January: Alkhorayef

Saudi Arabia is recalculating its mineral resources to create a new value, different from the previous value of $1.3 trillion, Bandar Alkhorayef Minister of Industry and Mineral Resources told the state-run SPA.    "We will announce our new estimate of the mineral resources ...

More Details

Tourism & Hospitality | Wednesday 20 December, 2023 10:17 am

Saudi Arabia's inbound tourism records SAR 86.9B spending in H1

The Ministry of Tourism issued preliminary data for tourism statistics for H1 2023, where the total number of tourists for all purposes in the Kingdom recorded 53.6 million, with 14.6 million incoming tourists and 39 million local tourists.  Total tourism spending amounted to SAR 150...

More Details

Business & Money | Wednesday 20 December, 2023 10:16 am

Riyadh bus network completed

The Royal Commission for Riyadh City (RCRC) announced the completion of the main network of the Riyadh public buses within the King Abdulaziz Project for Riyadh Public Transport.   The total number of routes currently reaches 54, served by 679 buses across 2,145 stations...

More Details

Business & Money | Wednesday 20 December, 2023 10:14 am

Absher platform saves SAR 23B on digital transformation: Alsuwaiyan

Ahmed Alsuwaiyan, Governor of the Digital Government Authority, said that digital transformation has empowered government agencies in Saudi Arabia with more productivity, efficiency and experience, indicating that by using the “Absher” platform, more than SAR 23 billion have been saved, and...

More Details

Business & Money | Wednesday 20 December, 2023 10:12 am

NDMC closes December issuance of Sukuk program at SAR 10.6B

The National Debt Management Center (NDMC) completed receiving investor orders for its domestic issuance for December 2023, under the Saudi Arabian Government SAR-denominated Sukuk Program.  The total amount allocated stood at SAR 10.55 billion, NDMC said in a statement today, Dec....

More Details

Business & Money | Wednesday 20 December, 2023 10:10 am

Contractors vie for building new Riyadh Metro line

Contractors formed consortiums to bid for Riyadh Metro extension contract to design and build a new line to link Qiddiya to King Khalid International Airport, MEED reported.    The new line (Line 7) will be executed in two phases. The first phase includes building a metro line...

More Details

Business & Money | Wednesday 20 December, 2023 10:09 am

Red Sea International signs SAR 32.2M contract with Baker Hughes

Red Sea International Co. (Red Sea) signed on Dec.  19, a four-year contract worth SAR 32.2 million (VAT -exclusive) with Baker Hughes Co., to design, manufacture, supply and operate a portable complex of prefabricated buildings to support the company’s operational...

More Details

Business & Money | Tuesday 19 December, 2023 3:32 pm

du and Abu Dhabi Global Market (ADGM) forge strategic collaboration for future opportunities

du, from Emirates Integrated Telecommunications Company (EITC), and Abu Dhabi Global Market (ADGM), announced a strategic collaboration that marks a significant milestone in the pursuit of future business opportunities including joint ventures, product development, and the exploration of emerging...

More Details

Business & Money | Tuesday 19 December, 2023 1:13 pm

Meraas reaches milestone as Bulgari Ocean Mansions Crosses Halfway Completion Mark

Meraas, a leading master developer and part of Dubai Holding Real Estate, announces that it has completed 56% of construction of its Ocean Mansions development, ensuring its timely delivery set for mid-2024.  Adorning the northern shore of the prestigious Jumeira Bay Island, the...

More Details