Business & Money | Monday 19 February, 2024 8:40 am

Al-Hogail witnesses signing of agreements, launch of real estate funds at SAR 3.5B

Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail witnessed the signing of SAR 2.4 billion worth of memorandums of understanding (MoUs) and agreements, along with the launch of three real estate funds at over SAR 1 billion.   The agreements were signed...

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Business & Money | Monday 19 February, 2024 8:39 am

Bahri Lays Cornerstone for Logistics Center at Jeddah Islamic Port

In the presence of H.E. Eng. Saleh bin Nasser Al-Jasser, Minister of Transport and Logistics Services and Chairman of the Saudi Ports Authority, the National Shipping Company of Saudi Arabia (Bahri) today laid the cornerstone for the establishment of a logistics center at Jeddah Islamic Port. The...

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Business & Money | Monday 19 February, 2024 8:38 am

Rothschild opens new office in Riyadh’s KAFD

Rothschild & Co. opened today, Feb. 18, a new office in Riyadh-based King Abdullah Financial District (KAFD), as part of its strategic expansion in Saudi Arabia, boosting its Middle East presence.   The company said this reflects its commitment to Saudi Arabia's growth potential. ...

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Business & Money | Monday 19 February, 2024 8:37 am

Saudi Arabia advances on Road Quality Index to rank 4th among G20 nations

Saudi Arabia continued to advance on the Road Quality Index (RQI) to the level of 5.7, taking the fourth place globally among the G20 countries, the Saudi Press Agency (SPA) reported, citing the World Economic Forum (WEF) report for 2023.   The Roads General Authority (RGA) indicated ...

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Business & Money | Sunday 18 February, 2024 8:39 am

DEWA received 6,235 innovative ideas from its employees in 2023 on Afkari platform

Dubai Electricity and Water Authority (DEWA) received 6,235 innovative ideas in 2023 through the Afkari internal platform, designed to encourage employees to be innovative and creative. So far, 85 percent of the approved ideas have been implemented. This has contributed to supporting the...

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Business & Money | Sunday 18 February, 2024 8:28 am

Azizi Developments partners with Amerec for Riviera’s fourth phase

Azizi Developments, a leading private developer in the UAE, has partnered with Amerec, the prominent American international leader in the steam and sauna industry, for the supply, design, and installation of steam rooms across the fourth phase of Riviera, Azizi’s mega-project in MBR City.For...

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Business & Money | Sunday 18 February, 2024 8:16 am

Real Estate Registry seen to register 80% of real estate by 2028: CEO

Mohammad Al-Sulaiman, CEO of the National Real Estate Registration Services Co. (Real Estate Registry - RER), said 2024 will be a distinguished year for the real estate registry, Al Eqtisadiah newspaper reported.  He pointed out that 80% of the Kingdom's real estate will likely be...

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Business & Money | Sunday 18 February, 2024 8:12 am

Details of tax rules for regional headquarters in Saudi Arabia

Umm Al-Qura newspaper published on Feb. 16 the tax rules for regional headquarters (RHQ), which include the provisions related to the tax incentives granted to RHQ.   The rules will be effective as of their publication date.   Under the rules, the RHQ that meet the...

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Business & Money | Sunday 18 February, 2024 8:10 am

Advanced seals $191M EPC contract for isopropanol plant

Advanced Petrochemical Co. signed EPC contracts to build the isopropanol plant in Jubail Industrial City using the manufacturing tech from Germany’s Thyssenkrupp at a total value of $191.26 million (SAR 717.23 million). In an emailed statement to Argaam, Advanced said the project will...

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Business & Money | Sunday 18 February, 2024 8:08 am

PPG’s joint venture Sigma Paints Saudi Arabia receives MECOC Expo Gold Sponsorship

PPG (NYSE: PPG) today announced that its Sigma Paints Saudi Arabia (SPSA) joint venture was honored with the prestigious MECOC Expo Gold Sponsorship and Speaker Appreciation Awards at the recent Middle East Metallurgy Corrosion & Coatings Expo (MECOC) in Abu Dhabi. The awards recognize the...

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