Business & Money | Sunday 24 March, 2024 3:10 pm

Saudi Ceramics recommends 25% capital hike via bonus issue

Saudi Ceramic Co.’s (Saudi Ceramics) board of directors recommended during its meeting on March 23, a 25% capital increase through distributing bonus shares, capitalizing SAR 200 million from the retained earnings, as shown in the following table:   Capital Hike...

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Business & Money | Sunday 24 March, 2024 2:01 pm

NWC provides opportunities for implementation of +398,000 connections to provide water and sanitation services

The National Water Company (NWC) has invited the national companies specializing in infrastructure implementation to participate in its investment opportunities under Phase II of the Esal “delivery in Arabic” project. NWC stated that it plans to sign a series of agreements to provide water and...

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Business & Money | Sunday 24 March, 2024 11:12 am

Hamdan bin Mohammed approves AED40 billion worth of projects under public-private partnership model

During the first meeting of The Executive Council of Dubai since its reconstitution, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved a portfolio of public-private partnership (PPP) projects of the Dubai Government valued ...

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Business & Money | Sunday 24 March, 2024 11:06 am

IOTA Foundation launches $10 million investment fund at Investopia 2024

Abdullah bin Touq Al Marri, Minister of Economy and Chairman of Investopia, attended the unveiling of a new investment fund valued at $10 million by the IOTA Ecosystem DLT Foundation during Investopia 2024. The fund's primary goal is to promote the development of TradeTech solutions and support the ...

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Business & Money | Sunday 24 March, 2024 10:46 am

SAL details agreement with Tibah Airports to develop new cargo terminal

SAL Saudi Logistics Services Co.’s agreement with Tibah Airports Operation Co. for the lease of land at Prince Mohammed Bin Abdulaziz International Airport in Madinah is valued at SAR 420,000 per year, or a percentage of the revenue, whichever is higher.   The percentage of the...

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Business & Money | Sunday 24 March, 2024 10:44 am

Alandalus, Sulaiman Al Habib to begin gradual ops at Jeddah hospital on March 31

Alandalus Property Co. and Dr. Sulaiman Al Habib Medical Services Group said that Al-Fayhaa Hospital in Jeddah will open doors and start phased operations on March 31. The final license was obtained from the Ministry of Health on March 23, both companies said in separate...

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Business & Money | Sunday 24 March, 2024 10:42 am

ACWA Power's NOORo III in Morocco offline due to forced outage

ACWA Power announced a forced outage at its NOORo III plant in Morocco after receiving a notice from the project’s company about a leak in the hot molten salts tank. The preliminary analysis showed that the forced outage will last until November 2024.   The preliminary estimates...

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Business & Money | Sunday 24 March, 2024 10:19 am

How Saudi’s Leading E-commerce Marketplace Mazeed is Personalizing Customer Engagement During Ramadan

For consumer brands in Saudi, Ramadan is nothing short of a retail phenomenon. Rising disposable incomes and the accompanying spending, which have increased the GDP contribution of the retail industry to over 10% in Saudi, become more evident during the holy month of Ramadan. Much like the...

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Business & Money | Sunday 24 March, 2024 10:10 am

OPEC Fund provides US$50 mn loan to support agriculture and food sector in Türkiye, prioritizing earthquake-hit regions

The OPEC Fund for International Development (OPEC Fund) is extending a US$50 million loan to Türkiye to support the agricultural and food production sectors, prioritizing 11 cities hit by the devastating earthquakes of February 2023. The Development and Investment Bank of Türkiye (TKYB) will...

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Business & Money | Sunday 24 March, 2024 9:21 am

Sharjah Islamic Bank provides first Islamic financial facility for Turkiye Wealth Fund

Sharjah Islamic Bank (SIB) and the Turkiye Wealth Fund (TWF) announced the signing of an agreement to provide a Shariah-compliant Murabaha facility worth $100 million USD, for a period of 3 years. This agreement, facilitated by Dogan Investment Bank, marks the first time the Turkish Sovereign...

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