Business & Money | Tuesday 16 April, 2024 11:44 am

Automotive aftermarket sales performance in Saudi Arabia is improving with a market value set to top US$9.4 billion by 2027

Automechanika Riyadh, Saudi Arabia’s leading trade show for the automotive aftermarket, will address the ongoing training needs for those within the industry when it returns to the Riyadh International Convention and Exhibition Center (RICEC) from 30 April to 2 May 2024. Taking place on the...

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Business & Money | Tuesday 16 April, 2024 11:37 am

Saudi Investment Recycling Company and SAP extend partnership with new deployment

The Saudi Investment Recycling Company (SIRC), wholly owned by the Public Investment Fund (PIF), has announced the successful deployment of solutions from global technology company SAP that will modernize business processes including procurement infrastructure and employee management. The two...

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Business & Money | Tuesday 16 April, 2024 11:20 am

Alpha Dhabi Holding enters into strategic partnership with ADQ

Alpha Dhabi Holding has announced that it will divest 49% of its subsidiary Alpha Dhabi Construction Holding (ADCH) to ADQ, an Abu Dhabi-based investment and holding company. ADH will retain a 51% shareholding in ADCH, continuing its commitment to the construction sector in strategic...

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Business & Money | Tuesday 16 April, 2024 9:48 am

Ladun Investment signs SAR 573M facility with Al Rajhi Bank

Ladun Investment Co.’s board of directors approved signing a Shariah-compliant credit facilities agreement with Al Rajhi Bank to finance the company and affiliated Built Industrial, at a total value of SAR 573 million, according to a statement to Tadawul. The financing facility was obtained...

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Business & Money | Tuesday 16 April, 2024 9:44 am

2P awarded SAR 46M project from Umm Al-Qura University

Perfect Presentation for Commercial Services Co. (2P) was awarded a project for operating the Deanship of Information Technology at Umm Al-Qura University at a total value of SAR 46 million, including value-added tax (VAT), the company said in a statement to...

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Business & Money | Tuesday 16 April, 2024 9:37 am

Lana wins project with King Faisal Specialist Hospital for SAR 1.2M

Lana Medical Co. said it was awarded on April 15 the “medical and infectious waste transportation service” project at King Faisal Specialist Hospital & Research Centre in Madinah for 1,095 days. In a statement to Tadawul, Lana said it expects to sign the contract on May 1 and estimated ...

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Business & Money | Tuesday 16 April, 2024 9:34 am

Maaden board proposes 5.69M share buyback to be held as treasury shares

Saudi Arabian Mining Co. (Maaden) board of directors recommended the buyback of 5.69 million ordinary shares, which will be allocated to the long-term employee stock incentive program, the company said in a statement to Tadawul today The shares will ...

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Business & Money | Tuesday 16 April, 2024 9:31 am

ROSHN Group awards SAR 215M contract to Dar Al Arkan

ROSHN Group announced today, April 15, the signing of an agreement worth over SAR 215 million with partner developer Dar Al Arkan for the development of residential villas in SEDRA 1A compound. The deal comes as part of the group's efforts to further strengthen its leadership in the Kingdom's...

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Business & Money | Tuesday 16 April, 2024 9:30 am

Al Jouf Cement announces liquidation of EICO

Al Jouf Cement announced liquidating its subsidiary Eastern Industrial Co. (EICO), in which Al Jouf contributes 10% of its capital. The investment value amounts to SAR 136 million, including development expenses of SAR 6 million, the company said in a statement to Tadawul. If the liquidation...

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Business & Money | Tuesday 16 April, 2024 9:25 am

World Bank raises Saudi Arabia's GDP growth forecasts to 5.9% in 2025

The World Bank raised its forecasts for Saudi Arabia's gross domestic product (GDP) growth for 2025 by about 1.7% to 5.9%, compared to its previous estimates of 4.2% in January. In its "MENA Economic Update" report, the World Bank lowered its growth forecasts for the Saudi economy in 2024 to...

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