Business & Money | Tuesday 16 April, 2024 9:34 am

Maaden board proposes 5.69M share buyback to be held as treasury shares

Saudi Arabian Mining Co. (Maaden) board of directors recommended the buyback of 5.69 million ordinary shares, which will be allocated to the long-term employee stock incentive program, the company said in a statement to Tadawul today The shares will ...

More Details

Business & Money | Tuesday 16 April, 2024 9:31 am

ROSHN Group awards SAR 215M contract to Dar Al Arkan

ROSHN Group announced today, April 15, the signing of an agreement worth over SAR 215 million with partner developer Dar Al Arkan for the development of residential villas in SEDRA 1A compound. The deal comes as part of the group's efforts to further strengthen its leadership in the Kingdom's...

More Details

Business & Money | Tuesday 16 April, 2024 9:30 am

Al Jouf Cement announces liquidation of EICO

Al Jouf Cement announced liquidating its subsidiary Eastern Industrial Co. (EICO), in which Al Jouf contributes 10% of its capital. The investment value amounts to SAR 136 million, including development expenses of SAR 6 million, the company said in a statement to Tadawul. If the liquidation...

More Details

Business & Money | Tuesday 16 April, 2024 9:25 am

World Bank raises Saudi Arabia's GDP growth forecasts to 5.9% in 2025

The World Bank raised its forecasts for Saudi Arabia's gross domestic product (GDP) growth for 2025 by about 1.7% to 5.9%, compared to its previous estimates of 4.2% in January. In its "MENA Economic Update" report, the World Bank lowered its growth forecasts for the Saudi economy in 2024 to...

More Details

Business & Money | Tuesday 16 April, 2024 9:22 am

Alhokair Group begins catering contract for residential complex in NEOM

Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) said it started providing catering services at a residential complex in NEOM, as per the timetable outlined in the award letter. The company is engaged in finalizing the site preparations and appointing qualified...

More Details

Business & Money | Tuesday 16 April, 2024 9:16 am

solutions inks SAR 140M contract with stc

Arabian Internet and Communications Services Co. (solutions) signed, on April 15, a SAR 139.95 million contract with stc to renew the VMware licenses and provide technical support and maintenance services, according to a statement to Tadawul. The contract will extend for three years, the...

More Details

Business & Money | Tuesday 16 April, 2024 9:04 am

Alternative Work Models key to empowering Saudi Women's return to the workplace, latest PwC Middle East survey finds

 Women professionals returning to the workforce in Saudi Arabia face considerable challenges, such as being 'mommy tracked' or having their resumes rejected due to career gaps. These findings are part of a report titled "Navigating the path back: Women returners in KSA". The report...

More Details

Business & Money | Tuesday 16 April, 2024 8:57 am

Spearheading Commercial Arbitration's Crucial Role in Arab Mega Projects

Dr. Kamal Al Hamad, the Secretary General of the GCC Commercial Arbitration Centre, emphasized the pivotal role of commercial arbitration in guaranteeing the execution of mega projects in alignment with pre-established plans, timelines, and financial commitments agreed upon by all involved...

More Details

Business & Money | Monday 15 April, 2024 2:40 pm

Sulaiman Al Habib EGM to vote on transferring statutory reserve to retained earnings on May 14

Dr. Sulaiman Al Habib Medical Services Group's shareholders will vote on transferring the company's statutory reserve amounting to SAR 1.05 billion, as shown in financial statements for FY ended Dec. 31, 2023, to retained earnings in an extraordinary general meeting to be held on May...

More Details

Business & Money | Monday 15 April, 2024 11:15 am

Budget Saudi inks agreement to acquire 70% of Overseas Development in UAE

United International Transportation Co. (Budget Saudi) signed a sale and purchase agreement to acquire 70% of Overseas Development LLC shares in the UAE. According to a statement to Tadawul, the acquisition amount was based on the financial evaluation of the acquisition, as the value of the...

More Details