Business & Money | Sunday 29 September, 2024 10:27 am

Investment in Spark surpasses $3B

King Salman Energy Park (SPARK) successfully attracted over 60 investors to date, with total investments now exceeding $3 billion. Currently, there are seven operational factories, and an additional 14 factories are under construction, SPARK said on X platform. According to data available ...

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Business & Money | Sunday 29 September, 2024 10:25 am

Riyad Bank completes $750M sukuk offer

Riyad Bank completed its $750 million worth of USD-denominated additional Tier 1 sustainable sukuk, under its international additional Tier 1 sukuk program. The sukuk will be settled on Oct. 3, the bank said in a statement to Tadawul. Offer DetailsOffer...

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Business & Money | Sunday 29 September, 2024 9:55 am

Al Othaim says profit from Fourth Mills IPO at SAR 160M

Abdullah Al Othaim Markets Co.’s estimated net proceeds from the initial public offering (IPO) of Fourth Mills Co. would reach SAR 160 million after Zakat and tax, according to a statement to Tadawul. The IPO net proceeds, excluding the offering expenses, are expected to reach SAR 833...

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Environment & Energy | Sunday 29 September, 2024 9:42 am

Saudi Arabia operates first project to store natural gas by injecting processed gas

Saudi Arabia began operations at Hawiyah Gas Storage (HGS) plant, the Kingdom’s first project to store natural gas by injecting processed gas, the Ministry of Energy announced. The project aims to re-produce natural gas in the main gas network at two billion standard cubic feet per day, the...

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Business & Money | Saturday 28 September, 2024 4:07 pm

Saudi Arabia welcomes 4.2M tourists for leisure, holidays in 7M

Saudi Arabia received nearly 17.5 million international tourists, marking a 10% increase year-on-year (YoY), according to the Ministry of Tourism. This figure was recently announced by the United Nations World Tourism Organization (UNWTO), with Saudi Arabia leading the G20 countries in terms...

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Business & Money | Saturday 28 September, 2024 3:57 pm

Aster mulls $250M asset acquisition for Saudi expansion

Aster DM Healthcare Ltd.’s new Gulf entity plans to acquire assets worth $250 million, Bloomberg reported, citing Alisha Moopen, Managing Director and CEO of the GCC unit. She added that the move aims to expand the company's footprint in Saudi Arabia. The deals are likely to be for...

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Business & Money | Saturday 28 September, 2024 3:55 pm

Kafalah offers SAR 100B financing guarantees for 23,000 enterprises

Abdulrahman Mansour, Chairman of Small and Medium Enterprises Loan Guarantee Program (Kafalah), said the program offered financing guarantees worth SAR 100 billion to support more than 23,000 small and medium-sized enterprises (SMEs). This would not have been possible without the joint efforts ...

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Business & Money | Saturday 28 September, 2024 3:53 pm

TGA amends mechanism for objecting to land transport violations

The Transport General Authority (TGA) approved amendments to the mechanism for objecting to land transport violations issued against individuals or entities that breach regulations. The new amendment states that "Any concerned party has the right to object to a violation before the authority...

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Business & Money | Saturday 28 September, 2024 3:48 pm

Saudi mining sector promising for foreign, local investors: Minister

Saudi Arabia’s mining industryboasts competitive advantages that make it a promising sector for foreign and local investors, Minister of Industry and Mineral Resources, Bandar Alkhorayef, saidat Saudi Night event in Las Vegas to introduce the Kingdom’s heritage, history, development programs...

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Business & Money | Saturday 28 September, 2024 3:44 pm

Dubai Customs Launches Innovative Training Program to Enhance Emiratisation Efforts

Dubai Customs is launching a significant initiative to train and employ 80 new high school graduates as "Customs Inspectors." in line with the vision of the Dubai government and contributing to the goals of the Dubai Economic and Social Agenda, along with the leadership's commitment to invest in...

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