Business & Money | Monday 4 March, 2024 9:56 am

DAN COMPANY AND HILTON SIGN AGREEMENT TO OPERATE DAN’s FIRST THREE RESORTS

Following a signing ceremony during a recent visit to Saudi Arabia by global Hilton leaders, leading global hospitality company Hilton and Dan Company, a Public Investment Fund (PIF) company specializing in agritourism, ecotourism, and adventure tourism signed an agreement with Hilton to...

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Government | Monday 4 March, 2024 9:46 am

REGA lists violations, penalties for real estate contributions law

The Real Estate General Authority offered, on Istitlaa platform, a table for violations and penalties for the real estate contributions law and its executive regulations, for public opinion no later than March 14, 2024.   Through the table, the authority aims to enhance compliance...

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Business & Money | Monday 4 March, 2024 9:29 am

Red Sea subsidiary inks deal with SAB to raise facilities limit by SAR 65M

Red Sea International Co.’s (RSI) subsidiary, Fundamental Installation for Electric Work Co. Ltd., signed an agreement to increase its credit facilities limit with Saudi Awwal Bank (SAB) by SAR 65 million to SAR 196.10 million.   In a statement to Tadawul, the...

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Business & Money | Sunday 3 March, 2024 9:54 am

Zain KSA achieves record annual revenue of SAR 9.9 Billion in 2023

Zain KSA unveiled its 2023 financial results, marking a record annual revenue of SAR 9.9 billion, up from SAR 9.1 billion in 2022, with an impressive 9% growth.  This revenue surge propelled Zain KSA  to achieve its highest-ever annual profit, reaching SAR 1.3 billion,  a remarkable...

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Government | Sunday 3 March, 2024 8:54 am

Minister of Municipal Affairs approves Municipal Licensing Procedures Law

Minister of Municipal, Rural Affairs and Housing, Majid Al-Hogail, approved the Municipal Licensing Procedures Law, Umm Al-Qura newspaper reported on March 1.   This replaces the Executive Regulations of the Municipal Licensing Procedures Law issued on Jan. 30,...

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Business & Money | Saturday 2 March, 2024 1:26 am

Enhancing fair trade practices important for economic opportunities in developing countries

Minister of Finance, Mohammed Al-Jadaan, said that enhancing fair trade practices is important for increasing economic opportunities in developing countries. He also emphasized the need to continue implementing the common framework for debt treatment.   In the first G20 Finance...

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Business & Money | Saturday 2 March, 2024 1:22 am

SAMA Governor says monetary policies should ensure price stability

Ayman Al-Sayari, Governor of Saudi Central Bank (SAMA) said that monetary policies should ensure price stability and be ready for immediate action to address economic changes.   He added that a stable financial sector is capable of efficiently converting savings into investments,...

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Business & Money | Saturday 2 March, 2024 1:19 am

Saudi Arabia to build food industrial clusters in Jazan, use Made in Saudi label on Lucid cars

Saudi Arabia will build food industrial clusters in Jazan, mining industrial clusters in Ras Al-Khair, automotive industrial clusters in Jeddah, and chemicals clusters in Yanbu, Al-Eqtisadiah newspaper reported, citing Bandar Alkhorayef, Minister of Industry and Mineral...

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Business & Money | Saturday 2 March, 2024 1:17 am

Aramco completes acquisition of Esmax

Saudi Aramco successfully completed the acquisition of a 100% equity stake in Esmax Distribución SpA (Esmax), a leading diversified downstream fuels and lubricants retailer in Chile.   Esmax has a national presence that includes retail fuel stations, airport operations, fuel...

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Business & Money | Friday 1 March, 2024 6:50 am

Eastern Cement inks $270.53M contract to build new production line

Eastern Province Cement Co. signed today, Feb. 29, a 26-month contract with China's Sinoma CDI to establish a new production line in the company’s plant in Khursaniyah at a value of SAR 270.53 million, the company said in a statement to Tadawul. The new production line will operate with a...

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