Business & Money | Wednesday 27 July, 2022 10:25 am

Saudi navy launches new combat ship in Spain

The Royal Saudi Naval Forces has launched the newest addition to its fleet at a ceremony in San Fernando, Spain, with several top officials from both countries in attendance, the Kingdom’s Ministry of Defense announced on Tuesday. The HMS Al-Diriyah Avanti 2200 Corvette is the second ship,...

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Business & Money | Tuesday 26 July, 2022 9:40 am

Saudi Central Bank launches Joint Operations Center to combat financial fraud

Saudi Central Bank has launched the Joint Operations Center for banks to follow up and monitor cases of financial fraud, the Saudi Press Agency reported.  Inaugurated by the central bank's governor, Fahd bin Abdullah Al-Mubarak, the center seeks to improve the customer experience and...

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Business & Money | Monday 25 July, 2022 12:47 pm

Bestune Saudi Unveils Summer Offers with Bank Albilad

Taajeer Group, the exclusive dealer for Bestune cars in Saudi Arabia recently announced the launch of its exclusive financing package for summer 2022, which comes as part of the marketing activities. The financing solutions from Bank Albilad provide the opportunity to get a Bestune car with...

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Business & Money | Monday 25 July, 2022 12:13 pm

People in Middle East are wary of rising inflation, but over two-thirds still behind equity markets: The Continental Group survey

 The Continental Group, a leading insurance intermediary and financial services provider in the GCC region, recently hosted a webinar titled ‘Can inflation be tamed? Learn from the experts', where finance specialists demystified inflation and its current and potential impact on businesses,...

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Business & Money | Monday 25 July, 2022 11:51 am

Citi and Etihad sign on First Sustainable Deposit Solution

 Etihad Airways has become the first client to sign on to Citi ADGM’s Sustainable Deposit Solution. Citi’s newly launched deposit solutions will further assist the airline in investing excess cash as part of its sustainability agenda.  Etihad will have access to Citi’s two new...

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Business & Money | Monday 25 July, 2022 11:09 am

Saudi construction firm Red Sea International to reduce capital by half to $80m

Red Sea International Co. has received its shareholders’ approval for a 50 percent capital reduction in a bid to support the company’s future plans. The construction firm will bring down its capital to SR302 million ($80 million) from SR600 million by canceling nearly 30 million shares...

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Business & Money | Monday 25 July, 2022 11:05 am

TRSDC inks deal with ZeroAvia to develop zero-emission flights

The Red Sea Development Co. has signed a memorandum of understanding with ZeroAvia, a British-American hydrogen-electric aviation firm, to test and develop zero-emission travel across its new luxury tourism destination with a focus on environmental sustainability and regeneration. Signed...

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Business & Money | Monday 25 July, 2022 10:44 am

Abu Dhabi Maritime enters a long-term sponsorship agreement with Abu Dhabi International Boat Show

The Abu Dhabi International Boat Show (ADIBS), the UAE capital’s prestige boating, leisure marine and fishing show, organised by the Abu Dhabi National Exhibitions Company (ADNEC), has entered into a three-year sponsorship agreement with Abu Dhabi Maritime to support the event’s upcoming...

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Business & Money | Sunday 24 July, 2022 4:10 pm

Jazz power on full display at Dhahran’s Arabic Jazz Music Festival

On a humid Friday night, the Dhahran Expo — the venue where people received COVID-19 vaccines over the past year — had a different remedy to offer: Music. The auditorium, with rows of plush white seats facing the large stage where oud, saxophones and singing inaugurated Shargiyya’s first ...

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Business & Money | Sunday 24 July, 2022 12:01 pm

TASI almost flat as investors await earnings results: Opening bell

Saudi main index began the week’s trading session almost flat as investors awaited earning results. TASI edged up 0.09 percent to 11,998, while Nomu was unchanged at 20,955 as of 10:08 a.m. Saudi time. Salama Cooperative Insurance Co. surged 9.45 percent, leading gainers, while United...

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