Business & Money | Wednesday 6 November, 2024 10:09 am

Red Sea subsidiary secures SAR 280M finance from SNB

Red Sea International Co. (RSI) said that its subsidiary, Fundamental Installation for Electric Work Co. Ltd. (First Fix), signed an Islamic funding and banking services agreement with Saudi National Bank (SNB) to secure SAR 280 million worth of credit facilities. In a statement to...

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Business & Money | Wednesday 6 November, 2024 10:05 am

Lana purchases Kian Plastic factory for manufacturing plastic medical supplies

Lana Medical Co. signed a contract today, Nov. 5, to purchase Kian Plastic Factory in preparation for its conversion to the manufacture of plastic medical products. The total investment amounts to SAR 5 million, which includes SAR 3.1 million for the purchase of the factory and SAR 1.9 million ...

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Business & Money | Wednesday 6 November, 2024 10:02 am

alrajhi bank Earns Top Honors in Social Responsibility and Secures Three Prestigious Awards

alrajhi bank has been awarded first place in social responsibility by the Ministry of Human Resources and Social Development in its inaugural Social Responsibility Awards, recognizing the bank’s impactful contributions to community welfare. The bank achieved first place in the Gold Category...

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Business & Money | Wednesday 6 November, 2024 9:57 am

Alhokair Group OKs rebranding to Baan Holding

Shareholders of Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) approved on Nov. 5 rebranding to Baan Holding Group Co. The shareholders also approved amending Article 2 of the company’s bylaws during the extraordinary general meeting (EGM), according to a statement...

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Business & Money | Wednesday 6 November, 2024 9:51 am

World Free Zones Organization Announces China as Host for its Annual World Congress in 2025

The World Free Zones Organization (World FZO) has announced that China will host the 11th annual World FZO World Congress in Hainan Province next year. This announcement was made during the World FZO's participation in the International Forum on China Reform, as part of an official visit led...

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Business & Money | Wednesday 6 November, 2024 9:48 am

KETURAH COMPLETES INFRASTRUCTURE WORKS FOR ‘THE RITZ-CARLTON RESIDENCES, DUBAI, CREEKSIDE’, STARTS CONSTRUCTION OF MANSIONS & RESIDENCES

Keturah, the revolutionary global luxury wellbeing real estate and hospitality concept has announced key construction milestones with the completion of shoring, piling, excavation and infrastructure works at The Ritz-Carlton Residences, Dubai, Creekside. The project’s main contractor, CECEP...

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Business & Money | Wednesday 6 November, 2024 9:45 am

ewpartners Announces $50 Million Strategic Investment in Leshines to Localize Manufacturing in the Middle East

ewpartners (formerly eWTP Arabia Capital), the first international investment firm to establish a Saudi-Asia cross border platform, has announced a USD $50 million investment in Leshines, the supply chain solutions arm of Chinese multinational tech company Lenovo at The Future Investment Initiative ...

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Business & Money | Wednesday 6 November, 2024 9:41 am

Almarai, The World's Largest Vertically-Integrated Dairy Company, Embarks on Digital Transformation Journey With Google Cloud

 Almarai, the world's largest vertically-integrated dairy company and the world’s fourth most valuable dairy brand in 2024, today announced a strategic partnership with Google Cloud to accelerate its digital transformation initiatives. This collaboration aims to empower Almarai to enhance...

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Business & Money | Wednesday 6 November, 2024 9:38 am

Mercantile & Maritime Group Launches Middle East’s Largest Biofuel Facility, Elevates UAE’s Green Energy Ambitions

Mercantile & Maritime Group, a global provider of energy and logistics, specialising in the physical trading of oil and gas, as well as a proven advisory service provider, announces the expansion of its fully owned and operated facility, MENA Terminals in Fujairah, to launch a pioneering...

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Business & Money | Wednesday 6 November, 2024 9:35 am

Dubai Customs and DP World Sign Agreement to Accelerate Digital Transformation across Trade and Logistics

Dubai Customs has signed a Memorandum of Understanding (MoU) with DP World designed to support Dubai's goal of becoming one of the top three economic cities in the world and to enhance its role in advancing international trade and logistics services. The MoU seeks to develop and improve...

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