Business & Money | Friday 19 April, 2024 9:40 am

SNB Capital expects Saudi banking sector to grow 9% from 2023

The Saudi banking sector is expected to achieve a year-on-year (YoY) growth rate of 8-9%, during the first quarter of 2024, buoyed by increased lending activity, enhanced profit margins, and steady deposit costs, Iyad Ghulam, Head of Equity Research at SNB Capital, told Argaam. In his...

More Details

Technology & IT | Friday 19 April, 2024 9:20 am

Virgin Mobile Saudi Arabia signs strategic JV partnership with HITEK to develop smart cities in the Kingdom

 Middle East regional technology services company, HITEK, part of the Farnek group of companies, has signed a JV partnership with Virgin Mobile Saudi; a Beyond ONE group company, as the preferred technology partner to enable a joint strategic approach to developing smart cities in Saudi...

More Details

Business & Money | Friday 19 April, 2024 9:17 am

Alkhorayef Water awarded SAR 1.72B contract by NWC

Alkhorayef Water and Power Technologies Co. (AWPT) won on April 17 a long-term operation and maintenance contract from National Water Co. (NWC) for sewage treatment plants (Package 7) in Al-Ahsa city. The contract is valued at SAR 1.72 billion, exclusive of VAT, according to a filing to...

More Details

Environment & Energy | Friday 19 April, 2024 8:36 am

Ducab Metals Business Launches Eco-Aluminium Rods, Revolutionizing Sustainability in Industry

DMB (Ducab Metals Business), committed to leading the “hard to abate” aluminium industry into the green economy, today announced the launch of its Green Aluminium Rod offering to its metals portfolio which will be in compliances to EU’s CBAM regulation. DMB uses recycled aluminium to...

More Details

Technology & IT | Friday 19 April, 2024 8:27 am

Kaspersky warns of data stealers hunting for user credentials

As the malware development market continues to flourish with new stealers such as Lumma, for the last three years Redline still remains the dominant data-stealing malware used by cybercriminals. More than half of every device (55%) targeted by password-stealer attacks in 2023 has been infected with ...

More Details

Government | Friday 19 April, 2024 7:35 am

Saudi Arabia starts reducing payment of accumulated traffic fines by 50%

The General Department of Traffic (GDT) started April 18, reducing the payment of accumulated traffic fines by 50%. The decision applies traffic violations committed by Saudi nationals, residents, visitors, and GCC nationals before today, GDT said in a statement.  To...

More Details

Business & Money | Friday 19 April, 2024 7:30 am

Sure inks SAR 94.2M contract to build, develop, operate e-platform

Sure Global Tech Co. signed, on April 17, a project contract with a legal entity to build, develop and operate an electronic platform at a total value of SAR 94.17 million, including value-added tax (VAT). The contract has a term of three years, the company said in a statement to Tadawul,...

More Details

Business & Money | Thursday 18 April, 2024 10:49 am

Emirates Islamic concludes debut USD 500 million financing facility

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has announced the successful conclusion of its debut USD 500 million syndicated Financing Facility. The landmark three-year term financing facility is the first of its kind raised by a Shariah-compliant financial...

More Details

Tourism & Hospitality | Thursday 18 April, 2024 10:38 am

Saudi Arabia Highlights Investment Initiatives in Tourism at International Hospitality Investment Forum

The Saudi Ministry of Tourism is currently taking a prominent stage at the International Hospitality Investment Forum (IHIF), presenting a unique opportunity for global investors to dive into the thriving tourism landscape of the Kingdom. With the spotlight on the Tourism Investment Enablers...

More Details

Tourism & Hospitality | Thursday 18 April, 2024 10:35 am

DIRIYAH COMPANY GROUP CEO JERRY INZERILLO APPOINTED UNITED NATIONS TOURISM AMBASSADOR

Diriyah Company Group CEO Jerry Inzerillo has been appointed a United Nations Tourism Ambassador during the first ever UN Sustainability week in New York. The accolade recognizes his achievements as a global visionary in the hospitality industry and internationally acknowledged visionary in tourism ...

More Details