Business & Money | Wednesday 24 December, 2025 9:21 am

IHC strengthens digital services portfolio with majority acquisition of Peko Holdings

IHC Tuesday announced that it has successfully acquired a 70% stake in Peko Holdings Limited, a technology-driven company delivering an integrated digital platform designed to simplify and automate core business operations. Peko is an all-in-one digital platform purpose-built to help...

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Business & Money | Wednesday 24 December, 2025 9:15 am

Red Sea signs SAR 202.8M services contract for Trojena project

Red Sea International Co. signed today, Dec. 23, a contract with Webuild S.p.A. to provide integrated facilities management services (operations and maintenance) for the Trojena project (NEOM), valued at SAR 202.8 million, excluding value-added tax (VAT). In a statement to Tadawul, the company ...

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Business & Money | Wednesday 24 December, 2025 9:09 am

Cabinet: Saudi-Qatar electric rail to boost tourism, economy

Saudi Arabia’s Cabinet affirmed, in a session held today, Dec. 23, chaired by King Salman bin Abdulaziz, that the high-speed electric railway project linking the Kingdom and Qatar will support mobility and enhance tourism and economic activity. The Cabinet said the project will become one of ...

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Business & Money | Wednesday 24 December, 2025 9:06 am

MIS wins project with HUMAIN worth over 155% of 2024 revenues

Al Moammar Information Systems Co. (MIS) secured today, Dec. 23, a project to design and build a private data center dedicated to artificial intelligence (AI) technologies with HUMAIN Co. The project’s value exceeds 155% of MIS’ total revenues for 2024, including value-added tax (VAT),...

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Environment & Energy | Wednesday 24 December, 2025 7:08 am

US crude inventories add 2.4M barrels: API

The American Petroleum Institute (API) said early today, Dec. 24, that US crude oil inventories increased by 2.39 million barrels in the week ended Dec. 19. The data showed that gasoline inventories also rose by 1.1 million barrels last week, while distillate stocks added 685,000...

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Business & Money | Tuesday 23 December, 2025 4:02 pm

Aljazira Bank Launches Its New Brand Identity Under the Slogan “Wealth Grows Here”

Aljazira Bank announced the launch of its new brand identity under the slogan “Wealth Grows Here,” marking a natural evolution in a growth journey spanning more than five decades. Over the years, successive phases of transformation have shaped the Bank into what it is today, with the new...

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Government | Tuesday 23 December, 2025 3:21 pm

SAMA issues fees guide for financial institutions’ services

The Saudi Central Bank (SAMA) announced issuing the “Fees Guide for Financial Institutions' Services", which will replace the currently applicable “Banking Tariff" once it enters into force.   This step comes as part of SAMA's supervisory and regulatory role and its ongoing...

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Business & Money | Tuesday 23 December, 2025 1:34 pm

Sharjah Coop Adopts LEAFIO Solutions to Enhance Space Efficiency and Automate Merchandising Processes

Sharjah Coop has signed a strategic cooperation agreement with LEAFIO, a global provider of AI-powered retail solutions specializing in automation platforms, supply chain optimization, and in-store merchandising management. This step reinforces the Coop’s ongoing commitment to strengthening its...

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Business & Money | Tuesday 23 December, 2025 1:31 pm

EA shareholders nod $55B PIF-led takeover: Report

Shareholders of video game company Electronic Arts (EA) approved the sale of the company to a consortium led by the Public Investment Fund (PIF) in a deal valued at $55 billion. According to Bloomberg, shareholders approved the acquisition at a price of $210 per share during a vote held on...

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Business & Money | Tuesday 23 December, 2025 1:30 pm

MODON signs over 900 industrial contracts in 2025: CEO

The Saudi Authority for Industrial Cities and Technology Zones (MODON) attracted over 900 new industrial contracts this year, including major global companies, said MODON CEO Majed Al-Argoubi.   Al-Argoubi told Asharq News that MODON also expanded its industrial land portfolio by...

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