Business & Money | Thursday 21 November, 2024 11:31 am

Snapchat opens office in Riyadh

Snapchat Inc. opened an office and a content creators' council in Riyadh, with the inauguration attended by Minister of Communications and Information Technology Abdullah Alswaha and Minister of Investment Khalid Al-Falih. During the event, Alswaha highlighted Snapchat’s significant role in...

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Business & Money | Thursday 21 November, 2024 11:26 am

SAB plans to issue SAR-denominated Additional Tier 1 Sukuk

Saudi Awwal Bank (SAB) plans to issue a SAR- denominated additional Tier 1 Sukuk through a private placement in Saudi Arabia, aligning with its SAR 20 billion additional Tier 1 Sukuk issuance program, according to a statement to Tadawul. The bank mandated HSBC Saudi Arabia as sole lead manager ...

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Business & Money | Thursday 21 November, 2024 11:22 am

Jadwa Investment Signs Agreements Worth SAR 9 Billion in Real Estate Projects at Cityscape Global

Jadwa Investment signed an MoU and agreements worth SAR 9 billion in real estate at Cityscape Global 2024 last week. In a statement, Jadwa said that the MoU and agreements were signed with Real Estate Development Fund (REDF), Dar Al Majed Company, and Zood Real Estate, for multiple real estate ...

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Business & Money | Thursday 21 November, 2024 11:17 am

Jabal Omar sells land plot for SAR 1.1B, gains SAR 818.2M

Jabal Omar Development Co. (JODC) signed, on Nov. 20, an agreement to sell a land plot for SAR 1.07 billion in its Makkah project to Hamad Al Mohaissin. In a statement to Tadawul, JODC said the land’s book value stands at SAR 254.12 million, including the development value. The land plot...

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Business & Money | Thursday 21 November, 2024 11:12 am

Diriyah lays foundation for Qurain Cultural District, Northern District for SAR 5.8B

Diriyah Company announced today, Nov. 20, details of two high profile multi-billion dollar educational and arts districts. The company laid cornerstone for Qurain Cultural District and Northern District projects for a total of SAR 5.8 billion. The announcement was made during the 2nd edition...

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Business & Money | Thursday 21 November, 2024 10:30 am

Retal signs SAR 112.7M contract with affiliate to build 60 residential units in Jeddah

Retal Urban Development Co. signed a contract with its affiliate, Building Contraction Co. (BCC), to build 60 residential units in Al-Mohammedia district, Jeddah. The contract, with no preferential terms, is valued at SAR 112.7 million, exclusive of VAT and fees, if any. The project will be...

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Business & Money | Wednesday 20 November, 2024 11:08 am

SAIB starts issuing USD-denominated sukuk

The Saudi Investment Bank (SAIB) started issuing USD-denominated additional Tier 1 sustainable sukuk, according to a Tadawul statement.  The final issuance value and offering terms will be determined based on market conditions. Issuance DetailsTypeUSD-denominated...

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Business & Money | Wednesday 20 November, 2024 11:05 am

Dubai Customs Seizes 26,000 Units of Restricted Eye Medication in Smuggling Crackdowns

Dubai Customs has successfully intercepted a sequence of smuggling attempts involving a restricted eye drop medication transported by travelers from Asia. This drug, classified as a controlled substance in the UAE, is prohibited for sale or use without a medical prescription due to its narcotic...

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Business & Money | Wednesday 20 November, 2024 10:58 am

Strategic Partnership: Tarabut & Geidea Sign MOU to Explore Game-Changing SME Financing Solutions in Saudi Arabia

Tarabut, the MENA region’s leading, regulated open banking platform, and Geidea, Saudi Arabia’s leading payments solutions provider, have entered a strategic partnership to explore and potentially develop tailored SME financing solutions, subject to regulatory approvals. Today, SMEs represent...

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Business & Money | Wednesday 20 November, 2024 10:55 am

UAE data centre market to be worth AED 9.7 billion by 2029

Growth in facilities is driving demand for specialist cleaning service providers that adhere to international standards & guidelines, says Hitches & Glitches  Dubai-based sustainable and technology-driven maintenance and cleaning specialist Hitches & Glitches (H&G), part...

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