Business & Money | Sunday 12 January, 2025 9:35 am

PIF anchors newly-introduced Saudi bond ETF with SAR 750M

The Public Investment Fund (PIF) pumped SAR 750 million (or $200 million) in investments in the recently-launched SPDR JPMorgan Saudi Arabia Aggregate Bond UCITS ETF — a new bond ETF focused on Saudi Arabia, managed by State Street Global Advisors Co. In a statement picked up...

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Business & Money | Sunday 12 January, 2025 9:33 am

KSA aims to support industries with affordable gas prices: Minister

Minister of Energy Prince Abdulaziz bin Salman said the Kingdom has a comprehensive range of ongoing and future projects to support local industries. This includes ensuring competitive gas prices and supplying electricity to factories, along with offering energy-intensive industry tariffs and...

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Business & Money | Friday 10 January, 2025 7:15 pm

Making an impact for the people of Makkah through ALMANAR

The groundbreaking for our latest project, ALMANAR, is special. This destination is not only the largest integrated community to be built in the holy city, with 33,000 homes spread across 21 million square meters, but it also represents a shift in the quality of life that we will offer to Makkah...

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Business & Money | Friday 10 January, 2025 12:58 pm

REDF: Mortgages for housing support programs rise 20% in 2024

Mortgage contracts for housing support programs by the Real Estate Development Fund (REDF) grew 20% during 2024, CEO Mansour bin Madi said.   He explained that the various housing support programs enabled 89,000 beneficiaries to secure mortgages worth a total of SAR 62.9 billion...

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Business & Money | Friday 10 January, 2025 12:56 pm

MIS signs 10-year framework agreement with Saudi Aramco

Al Moammar Information Systems Co. (MIS) signed a unified framework agreement with Saudi Aramco to supply Cisco IT system products based on purchase orders agreed upon by both parties.   In a statement on Tadawul, the company explained that the contract value will be determined...

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Business & Money | Friday 10 January, 2025 12:42 pm

Passenger traffic at Saudi airports tops 128M passengers in 2024: Al-Jasser

The total number of passengers at Saudi airports jumped 15% year-on-year (YoY) to over 128 million in 2024, Saleh Al-Jasser, Minister of Transport and Chairman of the General Authority of Civil Aviation (GACA), told SPA, citing preliminary figures.   This increase marks a 24% leap...

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Business & Money | Thursday 9 January, 2025 9:54 am

ADIB Capital launches European Logistics Fund

ADIB Capital Limited, a wholly owned subsidiary of Abu Dhabi Islamic Bank PJSC and regulated by the DFSA, has launched ADIB European Logistics Fund I, a Sharia-compliant investment vehicle designed to provide investors with access to high-demand logistics assets across Germany and Western...

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Business & Money | Thursday 9 January, 2025 9:51 am

Ajman real estate transactions reach AED2.28 billion in December 2024

Real estate transactions in Ajman totalled AED2.28 billion in December 2024, marking a record growth of 102 percent compared to the same period in 2023, according to the Real Estate Report issued by the Department of Land and Real Estate Regulation. Omar bin Omair Al Muhairi, Directo-General...

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Business & Money | Thursday 9 January, 2025 9:43 am

New ACCA research highlights need to break down silos in healthcare risk management

As healthcare systems in the Middle East prepare for unprecedented challenges, new research from the Association of Chartered Certified Accountants (ACCA) underscores the critical importance of integrated risk cultures. The findings, released ahead of Arab Health 2025 in Dubai, highlight the urgent ...

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Business & Money | Thursday 9 January, 2025 9:41 am

Urgent upskilling needed to cater 78 million new jobs: World Economic Forum

The World Economic Forum (WEF) said that job disruption will equate to 22 percent of the jobs by 2030. In a report released on Tuesday titled 'Future of Jobs Report 2025' WEF said tht 170 million new jobs will be created and 92 million jobs will be displaced resulting in a net increase of 78...

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