Business & Money | Thursday 8 July, 2021 3:42 am

PIF’s Sanabil Investments increases share capital by 50% to $8bn

The Saudi Arabian Investment Company (Sanabil Investments) on Wednesday announced that its parent company, the Public Investment Fund, had approved increasing its share capital by 50 percent to SR30 billion ($8 billion). The Saudi Cabinet approved the establishment of Sanabil Investments in...

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Business & Money | Thursday 8 July, 2021 1:22 am

Applications surge for Microsoft for Startups’ GrowthX Accelerator programme, as deadline approaches

 Microsoft today called for startups across Saudi Arabia to act now and register their applications for its GrowthX Accelerator programme before the 7 July deadline, as interest in the initiative continued to surge across the region.Hailed as a major boost to the region’s vibrant startup...

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Business & Money | Thursday 8 July, 2021 12:20 am

88% of consumers in Saudi Arabia will opt for digital banking services over visiting a physical branch post Covid-19

 Consumer appetite for digital banking services continues to grow in the Kingdom of Saudi Arabia (KSA), accelerated further by the COVID-19 pandemic, according to a new survey conducted by Backbase with YouGov.Eighty-eight percent of respondents to the survey said that they are now more likely ...

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Business & Money | Tuesday 6 July, 2021 12:31 am

Saudi issues new customs rules to boost local, GCC production

Saudi Arabia has approved the national rules of origin which aim to promote local content, Finance Minister Mohamed Al-Jadaan said on Twitter. It means that products which are not made in a GCC country will be considered foreign goods by customs. The decision was approved after...

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Business & Money | Tuesday 6 July, 2021 12:12 am

Search, Book, Go! Huawei’s Petal Search and Wego collaborate on a one-app travel experience

Huawei’s Petal Search, the easy-to-use application and search engine pre-installed on Huawei smartphones, has inked a partnership on 01 July 2021 with Wego, a leading travel marketplace in the MENA and APAC regions. With this, Huawei device users will see best deals and instant booking...

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Business & Money | Monday 5 July, 2021 3:40 am

SAMI Achieves AS9100 Certification for Excellence in Quality Management

In recognition of its compliance with the quality management systems requirements for aviation, space, and defense, Saudi Arabian Military Industries (SAMI), a wholly-owned subsidiary of the Public Investment Fund (PIF), has been awarded the prestigious AS9100 certification. With this...

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Business & Money | Monday 5 July, 2021 3:32 am

Green finance surges in MENA region in first half of 2021, exceeding global growth rates

Green and sustainability-linked debt issuance in the MENA region reached $6.4 billion in the first half of 2021, already exceeding the total for the whole of last year, according to Bloomberg’s H1 2021 Capital Markets League Tables. H1 2021 green and sustainability-linked debt issuances in...

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Business & Money | Sunday 4 July, 2021 1:09 am

Foundation stone laid for $880m Chinese LED project in Saudi Arabia's Jubail

Chairman of the Royal Commission for Jubail and Yanbu, Abdullah Al-Saadan, laid the foundation stone for a SR3.3 billion ($879.8 million) factory to produce LED lighting lamps in the in Blaskim area in Jubail 2. The factory for China’s Shengkong International Company for Industry is expected ...

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Business & Money | Sunday 4 July, 2021 12:47 am

The Saudi Investment Bank: First bank in the Kingdom to adopt Cisco Innovative Technologies

Cisco has today announced that The Saudi Investment Bank (SAIB) has become the first financial institution in the Kingdom to adopt the entire Cisco SDN Architecture.  This enables SAIB to automate its network to quickly respond to changing business needs while improving customers...

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Business & Money | Sunday 4 July, 2021 12:42 am

BinDawood Holding appoints Mohammed Belkhayatte as Chief Transformation Officer

BinDawood Holding Co. (Tadawul: 4161 and the “Company”), one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom of Saudi Arabia (‘KSA’), today announced it has appointed Mohammed Belhkayatte as Chief Transformation Officer. In his new role, Mohammed ...

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