Business & Money | Wednesday 3 January, 2024 8:55 am

Saudi insurance sector to see accelerated M&A activity in coming years: Al-Issa

Adel Al-Issa, the spokesman for insurance companies in Saudi Arabia, said mergers and acquisitions (M&As) are deemed a strategic option for insurance companies in the Kingdom, especially medium and small ones, driving long-term durability and more market competition.   Speaking...

More Details

Business & Money | Wednesday 3 January, 2024 8:52 am

TASNEE overcame difficulties, begins recovery: CEO

National Industrialization Co. (Tasnee) went through difficulties and began the recovery phase, as it succeeded in slashing loans from SAR 27 billion to less than SAR 10 billion currently, said CEO Mutlaq Al-Morished.    In an interview with Al-Ekhbariya TV, the CEO...

More Details

Business & Money | Wednesday 3 January, 2024 8:49 am

Industry Ministry issues 158 industrial licenses worth SAR 11.5B in October

The Ministry of Industry and Mineral Resources issued 158 new industrial licenses in October, at a total investment value of SAR 11.5 billion. The new licenses covered five industrial activities, the majority of which (or 31 licenses) were in the food production field, followed by the...

More Details

Business & Money | Wednesday 3 January, 2024 8:47 am

Group Five pens contract with Aramco worth over SAR 34M

Group Five Pipe Saudi Co. signed a contract with Saudi Arabian Oil Co. (Saudi Aramco) at a value that exceeds SAR 34 million (VAT inclusive). The deal includes manufacturing and supplying spiral-welded steel pipes tailored for one of the projects owned by Saudi Aramco in the Eastern Region of...

More Details

Business & Money | Wednesday 3 January, 2024 8:46 am

Alkhorayef Water inks SAR 87.2 mln contract with NWC

Alkhorayef Water and Power Technologies Co. (AWPT) signed a contract worth SAR 87.2 million (excluding VAT) with National Water Co. (NWC) for the operation and maintenance of water and sewage networks as well as their accessories in Buraidah, the company said in a statement to...

More Details

Business & Money | Wednesday 3 January, 2024 8:39 am

Qatar Takes the Helm: Presiding Over GCC Commercial Arbitration Centre

The GCC Commercial Arbitration Centre has stated that, commencing January 2024, the presidency of the Centre will be undertaken by the State of Qatar.  During the annual session of the Board of Directors, which initiates at the start of each calendar year and extends for a full year, His...

More Details

Business & Money | Wednesday 3 January, 2024 8:38 am

Blue Ocean’s Upskilling UAE Nationals Initiative Spurs Growth Opportunities For Local Talent

Blue Ocean Corporation, the Middle East’s biggest management training services brand’s initiative of upskilling UAE nationals as part of its 25th-year celebrations, has amassed an overwhelming response from corporate clients across government, semi-government, and private sectors. The program,...

More Details

Business & Money | Wednesday 3 January, 2024 8:26 am

Housing rents to be paid only via digital channels starting Jan. 15: REGA

The Real Estate General Authority (REGA) announced that financial transactions related to rent payments will be carried out only via the rental services e-network (Ejar) as of Jan. 15, according to the Saudi Press Agency.   REGA said that the move covers all new...

More Details

Business & Money | Tuesday 2 January, 2024 1:51 pm

Dulsco People, Assured Aviation Services Collaboration Sets New Standards for Airport Ground Service Equipment and Environmental Responsibility

Dubai-based Dulsco Group, a leader in People Solutions, Environmental Solutions, Talent Solutions, and Energy Recruitment Solutions, announces its partnership with Assured Aviation Services, a pioneer in providing dry washing services tailored for aircraft and airport ground service equipment. This ...

More Details

Business & Money | Tuesday 2 January, 2024 11:59 am

MoHRE begins implementing Emiratisation targets on over 12,000 private companies with 20-49 employees

The Ministry of Human Resources and Emiratisation (MoHRE) has started implementing the Cabinet Decision to expand the scope of companies subject to Emiratisation targets, where more than 12,000 companies with 20-49 employees, are required to hire at least one UAE citizen in 2024 and another one in...

More Details