Business & Money | Tuesday 5 November, 2024 8:00 am

Albilad Capital buys Mövenpick Hotel & Residences in Riyadh’s Al-Ghadir for SAR 1B

Albilad Capital, through its Albilad Hospitality Fund, acquired the Mövenpick Hotel & Residences in Riyadh’s Al-Ghadir district in a deal valued at approximately SAR 1 billion. In a statement picked up by Argaam, the company said this acquisition marks a strategic entry for Albilad...

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Business & Money | Tuesday 5 November, 2024 8:00 am

Mobily, Telecom Egypt cooperate to land first Saudi subsea cable

Etihad Etisalat Co. (Mobily) and Telecom Egypt, one of the largest subsea cable operators in the region, signed a cooperation agreement to land the first Saudi submarine cable linking Saudi Arabia and Egypt. The new cable, which is wholly owned by Mobily, will pass through the Red Sea,...

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Business & Money | Tuesday 5 November, 2024 8:00 am

MUFG signs Memorandum of Understanding with the Public Investment Fund of Saudi Arabia

MUFG and The Public Investment Fund (“PIF”) of Saudi Arabia have today announced that they signed a memorandum of understanding (“MoU”) to collaborate on opportunities of mutual interest to both MUFG and PIF.   The MoU will promote regular engagement between MUFG and PIF,...

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Business & Money | Tuesday 5 November, 2024 8:00 am

Digital Cooperation Organization at Summit of the Future: Accelerating digital cooperation to drive digital prosperity

The Digital Cooperation Organization (DCO) has concluded its participation at the UN Summit of the Future ahead of the UN General Assembly High-Level Week on September 22-23, 2024. The DCO's activities emphasized multi-stakeholder digital cooperation to drive prosperity, in line with the...

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Business & Money | Monday 4 November, 2024 10:09 am

Eastern Municipality awards project to establish 2.4M-sqm industrial city in Dammam

The Eastern Province Municipality awarded today, Nov. 3, a project to establish an integrated industrial city in Dammam on an area of 2.4 million square meters (sqm), in addition to developing the infrastructure and services in the site’s industrial masterplan. The scope of work entails...

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Business & Money | Monday 4 November, 2024 10:01 am

BinDawood Holding details full acquisition of Zahrat Al Rawdah for SAR 444M

BinDawood Holding Co.'s board of directors approved the acquisition of 100% of Zahrat Al Rawdah Pharmacies Co. in Saudi Arabia and the signing of a share sale and purchase agreement (SPA) with Planet Pharmacies Ltd and Kawakeb AlSaydailyat Co. In a Tadawul statement, the company said the...

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Business & Money | Sunday 3 November, 2024 9:47 am

Saudia Earns Prestigious APEX World Class 2025 Award For the fourth consecutive year

Saudia, the national flag carrier of Saudi Arabia, announced its win as the World Class Airline 2025 for the fourth consecutive year at the APEX WORLD CLASS™ Awards. This remarkable achievement further solidifies Saudia’s position as a leading carrier. APEX WORLD CLASS™ by YATES+ award...

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Business & Money | Sunday 3 November, 2024 9:44 am

RIKAZ Launches ZAYA to Develop Residential and Commercial Projects with Investments Totaling SAR 600 million

RIKAZ announces the launch of ZAYA, its affiliate company specializing in developing residential and commercial projects, with investments amounting to SAR 600 million.  The launch of ZAYA reflects the company's commitment to expanding its activities in the Kingdom and meeting the...

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Business & Money | Sunday 3 November, 2024 9:35 am

Saudi Reinsurance Company "Saudi Re" Reports 351% Increase in Profits for the First 9 Months of 2024, Reaching SAR 475 Million

The Saudi Reinsurance Company "Saudi Re" has announced its financial results for the nine months ending September 30, 2024. The company achieved a net profit after zakat of SAR 475 million, marking an impressive increase of 351% compared to the same period last year. The financial results also...

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Business & Money | Sunday 3 November, 2024 9:30 am

The Sports Boulevard Masterplan has earned the world’s first ActiveScore Platinum Communities Certification.

The Sports Boulevard Foundation has received best-in-class recognition from active travel accreditation ActiveScore – one Platinum Communities Certification for the Sports Boulevard Masterplan and one Platinum Certification for the Global Sports Tower. The Sports Boulevard project aims to...

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