Business & Money | Thursday 18 April, 2024 9:04 am

Zoujaj's 6th glass containers line to be completed in Dec. at SAR 47M

National Co. for Glass Industries (Zoujaj) said today, April 16, that the sixth glass container production line will cost SAR 46.6 million and is expected to be completed in December 2024. The expected financial impact of the project will appear starting in the first quarter of 2025. It...

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Business & Money | Thursday 18 April, 2024 9:02 am

Thimar sets up new firm for real estate investments

Thimar Development Holding Co. established a new 100%-owned, one-person limited liability company named Thimar Towers Development and Real Estate Investment Co.In a statement to Tadawul, Thimar said the new company is headquartered in Riyadh, Saudi Arabia. The company was set up to support...

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Business & Money | Thursday 18 April, 2024 8:52 am

Budget Saudi CEO: AutoWorld acquisition marks company’s largest-ever deal, to boost market share

United International Transportation Co.’s (Budget Saudi) acquisition of Al-Jazira Equipment Co. Ltd (AutoWorld) paves the way for a new era of growth opportunities, driven by a robust and strong Saudi economy, President & Group CEO Fawaz Danish told Argaam in an...

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Business & Money | Wednesday 17 April, 2024 10:29 am

Saudi Cable names Fawaz Al Muqbil as CEO, Khalid Khashoggi as MD

Saudi Cable Co.’s board of directors decided yesterday, April 16, to appoint Fawaz Bin Mubarak Al-Muqbil as CEO effective today, April 17. Al-Muqbil replaced Nael Samir Fayez, who was appointed as an advisor to the company’s board of directors, according to a statement to...

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Business & Money | Wednesday 17 April, 2024 9:52 am

National Building renews SAR 85M credit facility with Alinma Bank

National Building and Marketing Co. signed a renewal for the Shariah-compliant credit facilities agreement worth SAR 85 million with Alinma Bank, according to a statement to Tadawul. The revolving loan agreement is valid for a period of nine months, the company pointed out, adding that the...

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Business & Money | Wednesday 17 April, 2024 9:24 am

Introducing Global Vape Forum - Dubai, June 2024

World Vape Show launched in September 2021 and has been a huge success, expanding to 6 shows in 3 continents and growing. The show has gone on to become the most important and largest Business-to-business event globally. Part of the success is down to passion for change and drive to deliver...

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Business & Money | Wednesday 17 April, 2024 8:45 am

Fostering Economic ties: The Second Edition of Vision Golfe to Unveil the Future of Franco-Gulf Business & Trade Relations

Business France, the national agency supporting to the international development of the French economy, announces the second edition of "Vision Golfe," a key annual event fostering trade cooperation between France and the Gulf Cooperation Council (GCC) countries. Following the successful inaugural...

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Business & Money | Tuesday 16 April, 2024 12:10 pm

World Bank raises forecast for UAE's real GDP growth to 3.9% in 2024; 4.1% in 2025

The World Bank has raised its forecast for the UAE's real GDP growth to 3.9% in 2024, compared to its previous forecast in January of 3.7%. In an economic update published today on the latest economic developments in the Middle East and North Africa region, the World Bank said it had raised...

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Business & Money | Tuesday 16 April, 2024 11:50 am

Azizi Developments, MZ Architects partner for Azizi Venice

 Azizi Developments, a leading private developer in the UAE, has announced its partnership with homegrown firm MZ Architects for the concept design of 11 buildings in its approximately AED 30 billion mixed-use development, Azizi Venice, located in Dubai South. Founded in 2002 by visionary ...

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Business & Money | Tuesday 16 April, 2024 11:47 am

ACWA Power receives the first Renminbi (RMB) loan from Bank of China to finance an Uzbekistan solar project

Saudi-listed ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, received an equity bridge loan from Bank of China worth $80 million to finance its Tashkent 200MW Solar PV and 500MWh BESS in Uzbekistan. The equity...

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