Business & Money | Tuesday 6 August, 2024 11:11 am

Ministry of Finance achieves advanced ranking in institutional resilience

Adding yet another feather to its cap, the Ministry of Finance (MoF) has secured an "advanced" position in institutional resilience, following a comprehensive assessment of its maturity level in this area.The evaluation, conducted in collaboration with the British Standards Institute (BSI), was...

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Business & Money | Tuesday 6 August, 2024 11:06 am

ADNOC signs long-term Heads of Agreement with Japan's Osaka Gas for Ruwais LNG project

ADNOC announced today the signing of a long-term Heads of Agreement (LNG agreement) with Osaka Gas, one of the largest utility companies in Japan, for the delivery of up to 0.8 million metric tonnes per annum (mmtpa) of liquefied natural gas (LNG). The LNG will primarily be sourced from...

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Business & Money | Tuesday 6 August, 2024 11:01 am

Saudi Steel Pipe, Aramco sign SAR 138M contract

Saudi Steel Pipe Co. (SSP) signed today, Aug. 5, a contract to supply pipes to Saudi Aramco, at an estimated value of SAR 138 million. In a statement on Tadawul, the company said the financial impact of the 12-month contract is expected to show during the second and third...

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Business & Money | Tuesday 6 August, 2024 10:57 am

Lucid inks deal worth $1.5B with PIF’s Ayar

Lucid Co. concluded an agreement with Ayar Third Investment Co., a subsidiary of the Public Investment Fund (PIF), to obtain an amount of $1.5 billion. According to a statement by Lucid, Ayar will purchase convertible preferred shares worth $750 million, and provide loan facilities worth $750...

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Business & Money | Tuesday 6 August, 2024 10:49 am

Presight shows strong revenue and profit growth in H1 2024 financial results

 Presight AI Holding PLC (“Presight” or the “Company”), (ADX: PRESIGHT) today announced first half results for the six months to 30th June 2024, with strong growth in year-on-year revenue and profitability, underpinned by multi-year contracts, positive deployment mix, and the...

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Business & Money | Tuesday 6 August, 2024 10:25 am

Emirates NBD launches new branch in King Abdullah Financial District (KAFD)

Emirates NBD, the leading banking group in the MENAT (Middle East, North Africa, and Turkey) region, has opened a new branch in the King Abdullah Financial District (KAFD). In line with Emirates NBD’s strategic expansion plan, the new branch consolidates the bank’s presence in the Kingdom,...

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Business & Money | Tuesday 6 August, 2024 10:09 am

Saudia Group Concludes a Successful Hajj Season 1445H

Saudia Group has announced its remarkable contributions to the success of Hajj Season 1445H through its integrated ecosystem that includes aviation, cargo, logistics, catering, ground services, and maintenance. Saudia transported over 1 million pilgrims on more than 5 thousand flights spanning four ...

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Business & Money | Tuesday 6 August, 2024 10:00 am

PwC Middle East survey highlights gap between companies’ ESG initiatives and employee priorities

The Middle East findings of PwC’s first global workforce ESG preferences study 2024 reveal a significant disconnect between companies’ focus on Environmental, Social, and Governance (ESG) initiatives and the actual priorities of employees in the region. The study shows that while...

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Business & Money | Monday 5 August, 2024 1:57 pm

ROSHN Opens Sales for More Than 1,200 New Units in SEDRA Phase 4, Highlights Strong Demand for Existing Inventory

ROSHN Group, Saudi Arabia’s leading real estate developer and a PIF company, has announced the release of 1,251 new homes for sale in SEDRA Phase 4, part of its flagship Riyadh development and the city’s most desirable community. The fourth phase of "SEDRA" community, situated north of the ...

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Business & Money | Monday 5 August, 2024 11:48 am

EGA ships bauxite cargo using LNG-fuelled ship in world decarbonisation first

Emirates Global Aluminium (EGA) today announced the world's first bauxite cargo shipment using a Liquefied Natural Gas-fuelled (LNG) vessel. The shipment, in a Capesize ship, carries bauxite mined by EGA subsidiary Guinea Alumina Corporation to a customer in China. LNG-fuelled ships can...

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