22 Jumada II 1446 - 23 December 2024
    
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Eye of Riyadh

DMCC announces 21% increase in registered Colombian companies
Business & Money | Saturday 31 August, 2024 5:10 am
The Dubai Multi Commodities Centre (DMCC) has announced a 21% rise in the number of companies joining from Colombia since the start of the year. The growth means DMCC is now home to 23 companies from Colombia, and over 150 companies from across South America. Alongside the announcement, DMCC...
NMDC Group’s IPO of NMDC Energy oversubscribed within hours of Day 1
Business & Money | Saturday 31 August, 2024 5:05 am
NMDC Group – P.J.S.C. (ADX: NMDC) announced today that the Initial Public Offering (IPO or Offering for 1.15 billion shares (Offer Shares) in its wholly owned subsidiary, NMDC Energy – P.J.S.C. (NMDC Energy) has been oversubscribed within hours of the first day of its subscription...
RAKEZ continues to empower businesses with key sales strategy session
Business & Money | Saturday 31 August, 2024 4:55 am
Ras Al Khaimah Economic Zone (RAKEZ) recently hosted an interactive session on enhancing sales strategies titled “Sales Models to Drive Growth”. The event, held at RAKEZ Compass Coworking Centre, drew business leaders and sales professionals from the economic zone’s business community eager...
Jebel Ali Port hits new monthly container handling record
Business & Money | Saturday 31 August, 2024 4:53 am
DP World's Jebel Ali Port set a new monthly container throughput record in July, handling 1,400,000 TEUs (Twenty-Foot Equivalent Units) and topping its previous high set in 2015. This follows a strong performance in the first half of 2024, with the port handling 7.3 million TEUs, up 3.9...
Nvidia greatly impacts markets much like Fed: Analyst
Business & Money | Saturday 31 August, 2024 4:42 am
Whatever US chipmaker Nvidia does greatly impacts markets just like the Federal Reserve, Mohamed El-Erian, economist at Allianz, said on his X account.   He added that "don't fight the Fed" has long been a common mantra in capital markets. However, market chatter these days suggests...
Monsha'at: 56 brands mull granting franchises in Saudi Arabia
Business & Money | Saturday 31 August, 2024 4:39 am
Small & Medium Enterprises General Authority (Monsha'at) stated that 56 companies are exploring the possibility of granting franchises following the second round of the Saudi government's franchise program. The move aims to enhance growth and expand investment opportunities for companies...
GEA Chairman says plans to list webook on Saudi exchange
Business & Money | Saturday 31 August, 2024 4:37 am
Webook platform is expected to become a billion-dollar company, with plans to list it on the Saudi exchange, Turki Al-Sheikh, Chairman of the General Entertainment Authority (GEA), said on his X account.   He highlighted the impressive achievements of the platform in less than a...
Fitch affirms US ‘AA+’ rating with stable outlook
Business & Money | Saturday 31 August, 2024 4:32 am
Fitch affirmed the US credit rating at “AA+” with stable outlook, reflecting its structural strengths including high per capita income and financial flexibility. The agency said the country's financial situation would likely remain unchanged regardless of who wins the presidential...
UK's Virgin set to obtain first foreign airline license in KSA
Business & Money | Saturday 31 August, 2024 4:15 am
Saudi Arabia intends to start licensing foreign airlines to operate in the local market, to strengthen the Kingdom's position in the global aviation network and help achieve its foreign tourism targets, Al Eqtisadiah newspaper reported.   Virgin Atlantic will be the first foreign...
14 Raydan board members, employees convicted of violating Capital Market Law; fined SAR 128M
Business & Money | Saturday 31 August, 2024 3:30 am
The Capital Market Authority (CMA) announced that the Appeal Committee for Resolution of Securities Disputes (ACRSD) issued a final decision, convicting 14 board members and employees of Raydan Food Co. of violating the Capital Market Law. They were ordered to pay more than SAR 77 million for the...
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DP World issues $100 million Blue Bond
DP World issues $100 million Blue Bond
Sunday 22 December, 2024 8:37