Business & Money | Thursday 9 August, 2018 2:00 am

New mortgages to boost home ownership in Saudi Arabia

Saudi citizens will be able to access cheaper and more accessible mortgages at fixed rates under an initiative launched Wednesday by the Saudi Real Estate Refinance Company (SRC), the body set up and backed by the Kingdom’s Public Investment Fund. The SRC initiative will allow new or...

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Business & Money | Wednesday 8 August, 2018 11:30 am

Airbus upgrades communication network at Fort Irwin in the USA

Airbus is upgrading and expanding the US Army’s secure mobile communication system at the Fort Irwin National Training Center in the USA, California. As a result of this migration, the US Army will be able to communicate more efficiently and flexibly on one of the most important training site ...

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Business & Money | Wednesday 8 August, 2018 1:42 am

Prince Alwaleed acquires 2.3 percent stake in Snapchat

Prince Alwaleed bin Talal has acquired a 2.3 percent stake in Snapchat in a deal worth $250 million (SR950 million). The investment was made in May at a cost of $11 a share, making Prince Alwaleed a significant individual shareholder in this social media company, a statement from the...

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Business & Money | Tuesday 7 August, 2018 5:56 pm

Corporate Travel Goes on The Fast Track with New Amadeus Solution

As corporate travel behavior continues to evolve in the Middle East, Amadeus has announced the launch of a new corporate self-booking tool to support business travellers in the Middle East and North Africa in managing busy schedules while reducing travel costs. The engine was designed taking...

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Business & Money | Tuesday 7 August, 2018 12:39 pm

Second quarter of 2018 profits up 21%; SHUAA

  SHUAA Capital psc today announces its financial results for the period ended 30 June 2018, with quarterly revenues increasing to AED 30.8 million (Q2 2017: 30.4 million), and profits up 21% to AED 14.6 million (Q2 2017: AED 12.1 million).   During this period SHUAA’s...

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Business & Money | Tuesday 7 August, 2018 11:49 am

7 Thousand Cars from Alwaleed Philanthropies in Partnership with Ford for and Car Grants Project

Alwaleed Philanthropies (AP), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz AlSaud, announces the signing of a MOU with Aljazirah Vehicles Agencies, the dealer of Ford and Lincoln cars in the Kingdom, to distribute 7,000cars, overall, one thousand cars a year to be provided for the...

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Business & Money | Tuesday 7 August, 2018 8:51 am

US Senate official visits KSRelief

Ark Triger, the senior staff Republican officer in charge of Middle East affairs at the foreign relations committee of the US Senate, on Monday visited the Riyadh-based King Salman Humanitarian Aid and Relief Center (KSRelief). The US official met senior officials including Ahmed bin Ali Al-Baiz,...

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Business & Money | Tuesday 7 August, 2018 8:00 am

Makkah governor briefed on Saudi Post’s services for pilgrims during Hajj

The president of the Saudi Post Corporation (SPC), Mohammed Al-Abduljabbar, called on Makkah Gov. Prince Khaled Al-Faisal at his office in Jeddah on Monday.  The Makkah governor reviewed the corporation’s preparations to serve the Hajj pilgrims in Makkah and other holy...

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Business & Money | Tuesday 7 August, 2018 6:31 am

Yahsat Completes Thuraya Acquisition and Appoints New CEO

Today, Yahsat, a leading global satellite operator based in the United Arab Emirates (UAE) and wholly owned by Mubadala Investment Company, completed the acquisition of a majority and controlling stake in the mobile satellite services operator Thuraya. Ali Al Hashemi, who has led...

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Business & Money | Tuesday 7 August, 2018 2:04 am

First domestic asset manager in Saudi Arabia signals commitment to shape a more trustworthy financial industry

CFA Institute, the global association of investment professionals, announces today that Jadwa Asset Management claims compliance with the Global Investment Performance Standards (GIPS). Jadwa Asset Management, a division of Jadwa Investment, is the first firm which is domiciled in Saudi Arabia ...

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