Business & Money | Tuesday 1 June, 2021 8:02 am

Majid Al Futtaim appoints global infrastructure firm AECOM to deliver consultancy services for flagship Mall of Saudi project in Riyadh

 Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, announced today that it has awarded a four-year contract to global infrastructure consulting firm AECOM to provide lead consultancy services for its flagship Mall of...

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Business & Money | Monday 31 May, 2021 7:58 am

Red Sea Development Co. inaugurates first 100% renewable bottled water plant in Saudi Arabia

The Red Sea Development Co. (TRSDC) inaugurated the first desalination plant using solar and wind energy in the Kingdom as part of efforts to preserve the environment by limiting carbon emissions.Ahmed Ghazi Darwish, chief of staff at TRSDC, said that the project was launched in collaboration with...

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Business & Money | Monday 31 May, 2021 4:04 am

Saudi Arabia’s non-oil, oil exports increase by 42.9% and 75.0% in March 2021

 The Kingdom of Saudi Arabia’s overall merchandise exports increased by 64.0% in March 2021 compared to March 2020. The value of exports amounted to SR74.7 billion in March 2021, up from SR45.6 billion in March 2020. This increase originated mainly from oil exports, which rose by SR22.4...

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Business & Money | Monday 31 May, 2021 2:32 am

Najm Racks Up Another Successful Social Initiative under its Program “Najm Al Kheer”

Consistent with its successful strategy and programs that earned it the “Best Corporate Social Responsibility Insurance Company” award from the globally-renowned Global Brands magazine, Najm for Insurance Services maintains its social responsibility efforts which are at the heart of its...

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Business & Money | Monday 31 May, 2021 2:12 am

Uber appoints new General Manager for the Middle East, North Africa and Pakistan region

 Uber today announced the appointment of Saad Pall as the new General Manager for Uber across the Middle East, North Africa and Pakistan. The role covers Uber’s business in 36 cities across 8 countries in the region. Saad will lead the next phase of growth for Uber’s ride-sharing...

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Business & Money | Sunday 30 May, 2021 10:36 am

Alkhabeer Capital Announces the Commencement of the Subscription Period for the Second Additional Offering of Alkhabeer REIT Fund

Alkhabeer Capital, the asset manager specializing in Shari'a compliant investments and financial services, announced today the commencement of the subscription period for the second additional offering of Alkhabeer REIT Fund, a publicly offered closed-ended Shari’a-compliant real estate...

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Business & Money | Sunday 30 May, 2021 8:57 am

Saudi companies spent $47bn on capital expenditure in 2020

Companies listed on the Saudi Stock Exchange (Tadawul) spent SR177 billion ($47 billion) on capital expenditure (CAPEX) in 2020, equal to around 7 percent of the Kingdom’s gross domestic product (GDP), according to new research. The report by Dubai-based research portal Awalan found that...

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Business & Money | Thursday 27 May, 2021 8:25 am

World Tourism Organization opens first regional office in Riyadh

Secretary-General of UN World Tourism Organization (UNWTO) Zurab Pololikashvili and Minister of Tourism Ahmed Al-Khateeb on Wednesday inaugurated the first regional office of UNWTO in Riyadh. The new office will serve as a hub for UNWTO to coordinate policies and initiatives across 13...

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Business & Money | Thursday 27 May, 2021 8:23 am

Saudi Arabia, World Bank pledge $100mn fund to revive global tourism sector hit by COVID-19

Minister of Tourism Ahmed Al-Khateeb announced on Wednesday that Saudi Arabia, in partnership with the World Bank, has pledged $100 million to establish the International Fund for Comprehensive Tourism. The minister made the announcement during a session held on the sidelines of the...

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Business & Money | Wednesday 26 May, 2021 6:24 am

JAY NEW NAMED CEO OF KING ABDULLAH PORT

Ports Development Company (PDC), the owner and developer of King Abdullah Port, has announced the appointment of Jay New as the Chief Executive Officer (CEO) of the port.Welcoming Jay New, the Board of Directors of Ports Development Company said the new CEO would play a key role in accelerating...

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