Business & Money | Friday 25 October, 2024 9:18 am

Industry Ministry works closely with investors to keep projects on track

Minister of Industry and Mineral Resources, Bandar Alkhorayef, said that the Saudi industrial sector is witnessing significant progress. The industrial strategy identified 800 projects with total investments estimated at around SAR 1.3 trillion, of which projects worth nearly SAR 500 billion are...

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Business & Money | Thursday 24 October, 2024 11:31 am

Saudi Arabia’s FDI grows to SAR 96B in 2023, exceeds target by 16%

Foreign direct investment (FDI) inflows to Saudi Arabia reached SAR 96 billion in 2023, according to data by the Saudi Ministry of Investment. FDI inflows declined by 19% year-on-year (YoY) compared to 2022, when they totaled SAR 119 billion, including a SAR 55 billion Aramco deal. Without the ...

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Business & Money | Thursday 24 October, 2024 11:30 am

MEFIC REIT signs Dubai property swap, to reinvest in real estate firm

MEFIC REIT signed on Oct. 23 a swap agreement worth AED 62.6 million concerning the "The Pad" property located in Dubai, said the fund manager, MEFIC Capital. In a statement to Tadawul, MEFIC Capital added that the deal also involves reinvesting in Downtown Bay Developments Ltd. The...

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Business & Money | Thursday 24 October, 2024 10:47 am

Sure signs SAR 24M contract with Ministry of Tourism

Sure Global Tech Co. signed on Oct. 23 a two-year contract for an expansion project of infrastructure devices in data centers with the Ministry of Tourism at a total of SAR 23.98 million, inclusive of VAT, the company said in a statement to Tadawul. The contract was signed by both parties and...

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Business & Money | Thursday 24 October, 2024 10:45 am

Energy Localization Forums sees 107 deals worth SAR 104B

The Energy Localization Forum witnessed today 107 strategic agreements and memoranda of understanding aimed at reinforcing the Kingdom's global leadership in the energy sector, signed with 117 entities from the public and private sectors, with a total value estimated at SAR 104 billion, according...

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Business & Money | Thursday 24 October, 2024 10:43 am

AI-driven hackers are reshaping cybersecurity in the Middle East, says security industry expert

Integrating artificial intelligence (AI) into cybersecurity is transforming both the defensive and offensive sides of digital security and will be a major topic of discussion when cybersecurity experts convene at the Intersec 2025 Security Leaders’ Summit from 14-16 January 2025 to share insights ...

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Business & Money | Thursday 24 October, 2024 10:39 am

NWC implements continuous water pumping initiative for Al-Farish Center in Madinah

The National Water Company (NWC), represented by its Northwest Cluster, has increased the rate of pumping desalinated water from 4 hours per day to continuous pumping, i.e. 24 hours a day, seven days a week, to Al-Farish Center in Madinah. In order to maximize the utilization of water...

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Business & Money | Thursday 24 October, 2024 10:34 am

RAKEZ and Emirates Post collaborate to enhance business services for clients

Ras Al Khaimah Economic Zone (RAKEZ) signed a Memorandum of Understanding (MoU) with Emirates Post, the UAE’s official postal services provider and postal arm of 7X, to ease business processes for both RAKEZ and Emirates Post clients by providing integrated solutions and value-added benefits. The ...

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Business & Money | Thursday 24 October, 2024 10:32 am

Saudia Records 10% Growth in Guest Transportation for Q3 2024 Over 9 million guests transported on more than 49,500 flights

Saudia, the national flag carrier of Saudi Arabia, has reported significant growth in its operational performance for the third quarter of 2024, according to its latest performance report. The airline transported over nine million guests, marking a 10% increase compared to the same period in 2023....

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Business & Money | Thursday 24 October, 2024 10:30 am

Dubai Civil Aviation Authority Participates in Dubai HeliShow 2024

The Dubai Civil Aviation Authority (DCAA) is participating in the Dubai HeliShow 2024, the only dedicated event in the Middle East for helicopter and unmanned aerial vehicle (UAV) technology and operations. The event, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum,...

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