Business & Money | Wednesday 30 October, 2024 10:08 am

Cost of energy used in building Kingdom’s data centers cheapest globally: Nasser

The oil market is currently balanced in terms of supply and demand, despite demand being affected by rising interest rates and the economic situation in China, said Saudi Aramco’s President and CEO Amin Nasser. The energy transition depends on the level of economic maturity. Exports to...

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Business & Money | Wednesday 30 October, 2024 10:05 am

Aramco Digital licensed to provide specialized wireless communications services

Aramco Digital received a license to provide the specialized wireless communications services, from the Communications, Space and Technology Commission (CST). The CST said in a statement that the license would allow Aramco Digital to provide services to industrial, business, oil, and gas...

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Business & Money | Wednesday 30 October, 2024 10:05 am

Hetarth Patel interview - Eye of Riyadh (Seamless)

1. After your time at Seamless, what are the most exciting innovations you're seeing in how brands across sectors like e-commerce and retail are approaching customer retention? At Seamless, it was clear that brands across sectors are recognizing that without a personalized approach, retention...

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Business & Money | Wednesday 30 October, 2024 9:59 am

ACWA Power signs agreements worth $1.8B

ACWA Power Co. signed four agreements worth $1,784 million (SAR 6,690 million) on the first day of the Future Investment Initiative (FII8) in Riyadh. These agreements encompass key areas such as project financing, renewable energy and storage projects, as well as research and development...

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Business & Money | Wednesday 30 October, 2024 9:25 am

Saudi Aramco, Petrovietnam sign framework cooperation deal

Saudi Aramco signed a framework cooperation agreement with Vietnam Oil and Gas Group (Petrovietnam) during an official visit by the Vietnamese Prime Minister to the Kingdom.  According to a statement released by Aramco, the agreement paves the way for potential...

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Business & Money | Wednesday 30 October, 2024 8:17 am

Nofoth inks MoU to acquire Maqsood Restaurant brand

Nofoth Food Products Co. signed on Oct. 29 a non-binding memorandum of understanding (MoU) to acquire the Maqsood Restaurant brand, a statement said to Tadawul. As part of the agreement, Maqsood Restaurant Co. will transfer two of its Riyadh branches, along with all brand-related assets, to...

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Business & Money | Wednesday 30 October, 2024 8:00 am

du reports its Q3 2024 results Very strong performance with quarterly revenues growing 9.1%, EBITDA growing 16.9% and 9-months net profit surging by 49.7%

 Emirates Integrated Telecommunications Company PJSC (du), announced today its financial results for the third quarter of 2024 with a stellar topline growth of 9.1% and a robust EBITDA growth of 16.9%. Q3 EBITDA margin of 48.3% is the highest since inception. Q3 net profit of AED 719 million...

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Business & Money | Wednesday 30 October, 2024 8:00 am

Porsche Saudi Arabia launches all-new, all-electric Macan and the new Taycan

Samaco Motors, the official importer of Porsche in Saudi Arabia, hosted a special event in Riyadh on October 28 to celebrate the launch of its all-new, all-electric Macan and the new updated Taycan in the Kingdom of Saudi Arabia. The event attracted Porsche customers, business leaders, media...

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Business & Money | Wednesday 30 October, 2024 8:00 am

GII closes $100 million capital increase to boost its growth plans

 Leading shareholders in Gulf Islamic Investments (GII), plus new investors, have added an additional $100 million growth capital to the group’s balance sheet to develop private equity opportunities across the Kingdom of Saudi Arabia and the GCC, ahead of the forthcoming Financial Investment ...

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Business & Money | Tuesday 29 October, 2024 3:19 pm

Amali Properties Breaks Ground on Amali Island: A New Landmark in Ultra-Luxury Island Living

Amali Properties has officially broken ground on Amali Island, a landmark luxury development within The World Islands, off the coast of Dubai.  The ceremony was marked by a gathering of key officials from Amali Properties, as well as the project’s marine works contractors,...

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