Business & Money | Friday 16 August, 2024 12:25 am

RCRC awards 4 road projects in Riyadh at over SAR 13B

The Royal Commission for Riyadh City (RCRC) announced commencing the implementation of a program to develop ring roads and main roads in Riyadh city. It awarded four projects, which include the first group of the program, at a value exceeding SAR 13 billion. Contracts for projects of...

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Business & Money | Friday 16 August, 2024 12:18 am

SNB Capital gets regulatory approval of Ehsan Waqf Fund IPO

The Capital Market Authority (CMA) has issued approval for the SNB Capital to float the units of Ehsan Waqf Fund in an initial public offering (IPO), according to a statement to Tadawul. ...

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Business & Money | Thursday 15 August, 2024 10:43 am

UAE IPOs raise $890 million in Q2 2024

Initial public offerings (IPOs) in the UAE markets raised US$890 million in the second quarter (Q2) of this year, according to a recent economic report. The PwC Middle East’s latest IPO+ Watch said that notable IPOs in the second quarter included Alef Education on the Abu Dhabi Securities...

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Business & Money | Thursday 15 August, 2024 10:41 am

Amanat delivers revenue growth of 17%, announces interim dividend of AED 75 mn

Amanat Holdings PJSC (“Amanat” or the “Company”) (DFM symbol: AMANAT), the leading healthcare and education listed investment company, announced its financial results for the six-month period ended 30 June 2024 (H1 2024). Revenue grew by 17% year-on-year to AED 433 million in H1 2024...

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Business & Money | Thursday 15 August, 2024 10:38 am

Abu Dhabi Sustainable Water Solutions-led consortium to develop Uzbekistan's largest wastewater treatment plant

A strategic consortium comprising Abu Dhabi Sustainable Water Solutions Company (SWS), Marubeni Corporation, and Suez, has signed a joint development agreement with the Ministry of Investment, Industry and Trade of Uzbekistan, and Uzsuvtaminot JSC for the development of a wastewater treatment plant ...

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Business & Money | Thursday 15 August, 2024 10:36 am

BUSINESS AVIATION MOVEMENTS AT DUBAI SOUTH CONTINUE TO GROW, RECORD 7% INCREASE IN H1 2024

The Mohammed bin Rashid Aerospace Hub (MBRAH) at Dubai South continues to achieve outstanding private jet movements, with 8,472 movements in the first six months of 2024, a growth of 7% over the same period in 2023. This achievement reflects the growing maturity of the business aviation ecosystem...

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Business & Money | Thursday 15 August, 2024 10:29 am

Sadr secures SAR 74.6M credit facilities from ADF

Sadr Logistics Services Co. sealed a SAR 74.6 million loan agreement with the Agricultural Development Fund (ADF), as per the fund's lending regulations, according to a Tadawul filing today, Aug. 14. The loan will finance the establishment of the Logistics Services Complex Project (Sadr Park)...

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Business & Money | Thursday 15 August, 2024 10:26 am

Red Sea subsidiary inks SAR 253M construction contract

Red Sea International Co.'s subsidiary, The Fundamental Installation for Electric Work Co. Ltd., signed today, Aug. 14, a contract worth SAR 253.09 million (VAT inclusive) with Modern Building Leaders Co. (MBL), according to a Tadawul statement. Under the 564-day contract, the...

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Business & Money | Thursday 15 August, 2024 10:23 am

S&P: GCC insurance sector likely to grow supported by Saudi market

S&P Global Ratings expects the insurance sector in the Gulf Cooperation Council (GCC) countries to grow by about 15% to 20% in 2024, with revenues exceeding $20 billion. The agency said that the Saudi market is seen to be the main driver of revenue growth in the GCC region, similar to the...

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Business & Money | Thursday 15 August, 2024 10:18 am

Electrical Industries’ unit inks SAR 281M contract with Hyundai

Electrical Industries Co.’s subsidiary, Saudi Power Transformers Co., signed on Aug. 14 a contract with Hyundai Engineering Co. Ltd. to supply transformers, for SAR 281.13 million (excluding VAT), according to a statement to Tadawul. The 15-month contract entails a purchase order for design, ...

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