Business & Money | Friday 7 March, 2025 2:40 pm

DP WORLD AND MAWANI INAUGURATE SAR 3 BILLION STATE-OF-THE-ART TERMINAL IN JEDDAH

DP World and Saudi Ports Authority (Mawani) have unveiled the new state-of-the-art South Container Terminal at Jeddah Islamic Port, marking a major milestone in DP World’s SAR 3 billion ($800 million) expansion and development programme to upgrade the terminal and enhance Saudi Arabia’s...

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Business & Money | Thursday 6 March, 2025 2:34 pm

PIF, Italy’s SACE sign $3B MoU

The Public Investment Fund (PIF) and SACE, the Italian insurance and financial group fully owned by the Italian Ministry of Economy and Finance, signed a memorandum of understanding (MoU) to strengthen their bilateral partnership. Under the MoU, the parties will cooperate on sharing...

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Business & Money | Thursday 6 March, 2025 2:24 pm

stc Group Increases Connectivity Speed in the Two Holy Mosques By Over 120%

stc Group, Saudi Arabia’s leading digital enabler, is enabling world-class connectivity for millions of pilgrims and visitors during Ramadan with its expanded 5G network, increasing network infrastructure to accommodate over 120% faster download speeds. stc Group’s network analytics...

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Business & Money | Wednesday 5 March, 2025 8:00 am

SGS wins SAR 500M ground-handling contract from Riyadh Air

Saudi Ground Services Co. (SGS) won a bid from Riyadh Air to provide ground-handling services for three years, starting from March 1, 2025, subject to extension for an additional two years. Under the SAR 500 million contract, SGS will provide ground-handling services for all Riyadh Air...

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Business & Money | Wednesday 5 March, 2025 8:00 am

SAR 8.5B deals signed with private sector for Jubail-Buraydah IWTP

Abdulrahman Al-Fadhli, Minister of Environment, Water and Agriculture and Chairman of Saudi Water Partnership Co. (SWPC), signed today, March 4, several agreements for the construction of the Jubail-Buraydah independent water transmission pipeline (IWTP) project with a consortium of Aljomaih Energy ...

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Business & Money | Tuesday 4 March, 2025 11:45 am

PIF, Goldman Sachs sign MoU on investment in Saudi Arabia, GCC

The Public Investment Fund (PIF) and Goldman Sachs Asset Management today announced the signing of a non-binding memorandum of understanding (MoU) for PIF to act as a strategic anchor investor for new private credit and public equity strategies in Saudi Arabia and the wider GCC region. The new ...

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Business & Money | Tuesday 4 March, 2025 11:42 am

MEPCO Lays the Foundation for PM5: A Groundbreaking Leap in Paper Production, Doubling Supply Capacity and Introducing Superior-Quality Paper to the Region

The Middle East Paper Manufacturing and Production Company (“MEPCO”), the leading company in the region's paper industry, announces the laying of the foundation for its 5th paper production line (PM5), the largest of its kind in the Middle East, as part of its strategic plan to strengthen Saudi ...

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Business & Money | Tuesday 4 March, 2025 11:17 am

Aramco expects dividend payout of SAR 320.4B in 2025

Saudi Aramco expects total dividends of SAR 320.4 billion ($85.4 billion) to be declared this year. In an emailed statement to Argaam, Aramco said this dividend will cover Q1 2025. Dividends, with the related amounts and record dates, will be announced for the rest of 2025 if approved by the...

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Business & Money | Tuesday 4 March, 2025 11:09 am

Aramco expects oil demand growth in 2025: CEO

Saudi Aramco President and CEO Amin Nasser said that the global oil demand reached new highs in 2024, and the growth is expected to continue in 2025. “Our strong net income and increased base dividend illustrate Aramco’s exceptional resilience and ability to leverage its unique scale, ...

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Business & Money | Monday 3 March, 2025 12:11 pm

Retal’s project portfolio hits SAR 17B, market outlook positive: CFO

Retal Urban Development Co.’s revenue growth in 2024 was primarily driven by higher unit sales and the launch of new projects, with more than six ongoing projects added during the year, CFO Ammar Al-Ghoul said. In an interview with Al Arabiya TV, Al-Ghoul explained that Retal’s project...

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