Business & Money | Monday 2 October, 2023 8:33 am

Arabian Pipes signs SAR 115 mln supply contract

Arabian Pipes Co. signed today, Oct. 1, a supply contract worth around SAR 115 million for supplying longitudinally welded pipes from its factory in Jubail to the branch of C.A.T. International Limited. The financial impact of the contract, which runs for nine months, will appear on the...

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Business & Money | Monday 2 October, 2023 8:31 am

Alkhaleej Training signs SAR 149.4 mln contract with Saudi Electricity

Alkhaleej Training and Education Co. signed today, Oct. 1, a contract worth around SAR 149.42 million, excluding value-added tax (VAT), with Saudi Electricity Co. (SEC).   The deal, which is valid for one year and is automatically renewed for another year at the same value, ...

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Business & Money | Monday 2 October, 2023 8:29 am

SAMA seeks public feedback on draft amendments of motor insurance rules

The Saudi Central Bank (SAMA) invited entities and parties concerned with the provisions of the rules the comprehensive motor insurance rules to send their feedback via Istitlaa platform, according to a statement today, Oct. 1.   The amended rules aim to expand the insurance coverage ...

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Business & Money | Sunday 1 October, 2023 1:50 pm

NEOM and Maysalward to strengthen young gaming talent with the launch of the NEOM Game Dev Challenge

NEOM, the global development taking shape in northwest Saudi Arabia, has joined forces with Maysalward, the pioneering mobile game studio from the Middle East, in an exciting collaboration to launch the NEOM Game Dev Challenge. The pilot program has just begun with the goal of empowering the next...

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Business & Money | Sunday 1 October, 2023 12:01 pm

Saudi’s Alamiya makes bold move back into the film industry with the acquisition of Lyra Pictures

Alamiya, a prominent live production and entertainment company in the Middle East with a fifty-year heritage, has announced its latest milestone in the industry – the acquisition of Lyra Pictures.  This transformative partnership marks a significant step towards shaping the future of...

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Business & Money | Sunday 1 October, 2023 11:01 am

CENOMI CENTERS AND CAREEM FORM STRATEGIC PARTNERSHIP TO DELIVER SEAMLESS RETAIL EXPERIENCE FOR CUSTOMERS

Cenomi Centers, the leading owner, operator, and developer of contemporary lifestyle centers in Saudi Arabia, and Careem, the region’s leading multi-service app,                 have announced a new strategic partnership aimed at improving...

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Business & Money | Sunday 1 October, 2023 10:00 am

Saudi economy seen to grow 0.03% in 2023

The Ministry of Finance expected to maintain positive economic growth rates this year and in the medium term, backed by structural reforms and sector strategies in line with Vision 2030.   In its Pre-Budget Statement 2024, the ministry expected real gross domestic product (GDP) to...

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Business & Money | Sunday 1 October, 2023 10:00 am

Red Sea International, Al Rajhi sign SAR 330 mln agreement to finance acquisition

Red Sea International Co. signed on Sept. 28 a financing facility agreement contract worth SAR 330 million with Al Rajhi Bank. The agreement aims to finance the acquisition of a 51% stake in Fundamental Installation for Electric Work Co. Ltd. (First Fix), the company said in a statement to...

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Business & Money | Saturday 30 September, 2023 3:07 am

UAE's EDGE acquires 50 percent stake in Brazil's SIATT

The UAE’s EDGE Group, one of the world’s leading advanced technology and defence groups, has announced the acquisition of a 50 percent stake in Brazilian smart weapons and high-tech systems specialist, SIATT. The acquisition deal was officially signed at SIATT's headquarters in the city of ...

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Business & Money | Saturday 30 September, 2023 12:58 am

CMA OKs View Real Estate 18.2% IPO on Nomu

The Capital Market Authority (CMA) approved on Sept. 28 registering and offering 600,000 shares, or 18.18% of View Limited Real Estate Development Co.’s capital on Nomu-Parallel Market, according to a CMA statement.   The IPO will be confined to qualified investors and the...

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