Business & Money | Saturday 31 August, 2024 4:53 am

Jebel Ali Port hits new monthly container handling record

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...

More Details

Business & Money | Saturday 31 August, 2024 4:42 am

Nvidia greatly impacts markets much like Fed: Analyst

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...

More Details

Business & Money | Saturday 31 August, 2024 4:39 am

Monsha'at: 56 brands mull granting franchises in Saudi Arabia

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...

More Details

Business & Money | Saturday 31 August, 2024 4:37 am

GEA Chairman says plans to list webook on Saudi exchange

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...

More Details

Business & Money | Saturday 31 August, 2024 4:32 am

Fitch affirms US ‘AA+’ rating with stable outlook

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...

More Details

Business & Money | Saturday 31 August, 2024 4:15 am

UK's Virgin set to obtain first foreign airline license in KSA

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...

More Details

Business & Money | Saturday 31 August, 2024 3:30 am

14 Raydan board members, employees convicted of violating Capital Market Law; fined SAR 128M

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...

More Details

Business & Money | Friday 30 August, 2024 6:56 am

Red Sea Global Launches Saudi Arabia’s Second Water Aerodrome

Red Sea Global (RSG), the developer behind the regenerative tourism destinations The Red Sea and AMAALA, has secured its second operating license for a water aerodrome, this time for Shebara resort at The Red Sea.   “This license is one of the final steppingstones toward opening...

More Details

Business & Money | Friday 30 August, 2024 6:52 am

NHC sales hit SAR 13.5B in H1 2024

National Housing Co. (NHC) said its sales of residential units reached SAR 13.5 billion, with more than 13,000 houses sold in the first half of 2024, a four-fold spike compared to last year's sales volume, the Saudi Press Agency reported.   The Central Province accounted for most of...

More Details

Business & Money | Friday 30 August, 2024 4:49 am

MIS awarded SAR 104.7M project by RCJY

Al Moammar Information Systems Co. (MIS) was awarded today, Aug. 29, a project by the Royal Commission for Jubail and Yanbu's (RCJY) General Administration of Jubail Project, at a value of SAR 104.73 million (including VAT).   In a statement to Tadawul, the company said the scope of...

More Details