Business & Money | Thursday 28 May, 2026 7:39 am

Saudi Aramco transfers PRefChem ownership to PETRONAS

Saudi Aramco and Petroliam Nasional Berhad (PETRONAS) today signed an agreement for the transfer of Aramco’s equity stakes in Pengerang Refining Company Sdn. Bhd. and Pengerang Petrochemical Company Sdn. Bhd. (collectively, “PRefChem”), located within the Pengerang Integrated Complex,...

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Business & Money | Thursday 28 May, 2026 7:34 am

1.7M pilgrims perform Hajj in 2026: GASTAT

The total number of pilgrims performing Hajj this year reached 1.71 million.According to the General Authority for Statistics (GASTAT), 1.5 million pilgrims arrived from outside the Kingdom, while the number of domestic pilgrims, including Saudi citizens and residents, stood at 160,650.Male...

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Business & Money | Thursday 28 May, 2026 7:31 am

Kingdom Holding, Prince Alwaleed’s combined stake in SpaceX may top $10.6B

Kingdom Holding Co. (KHC) said its combined stake with Prince Alwaleed bin Talal’s private office in SpaceX stands at 0.63%, with the holding valued at $8.32 billion based on a company valuation of about $1.25 trillion.KHC told Asharq Business with Bloomberg that the stake’s value could rise to ...

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Business & Money | Monday 25 May, 2026 9:24 am

RCRC appoints PLANET to lead Riyadh cooling project

The Royal Commission for Riyadh City (RCRC) appointed PLANET as the lead consultant for the Riyadh Strategic Cooling Project, an initiative aimed at addressing urban heat challenges in the Saudi capital. Implemented under the Riyadh Green Program, the project includes developing a citywide...

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Business & Money | Thursday 21 May, 2026 10:27 am

SAB Invest the First Market Maker for ETFs on the Saudi Exchange

SAB Invest, the investment arm of Saudi Awwal Bank (SAB), today announced its official registration by the Saudi Exchange (Tadawul) as the first ETF market maker in the Kingdom. This landmark achievement marks a new era for Saudi Arabia’s capital market, supporting Vision 2030’s Financial...

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Business & Money | Thursday 21 May, 2026 10:21 am

Qiddiya and Google Cloud Collaborate to Power One of the World's Largest Entertainment Projects with AI

Qiddiya Investment Company and Google Cloud today announced a major expansion of their collaboration to establish the digital foundation for one of the world’s largest entertainment projects. Through strategic systems integrator Master Works, Qiddiya will leverage Google Cloud technology to power ...

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Business & Money | Thursday 21 May, 2026 10:01 am

Saudi Azm secures SAR 75M credit facility with SAIB

Saudi AZM for Communication and Information Technology Co. signed a Shariah-compliant banking facility agreement worth SAR 75 million with the Saudi Investment Bank (SAIB) In a statement on Tadawul, the company said the one-year financing is backed by a promissory note as a guarantee. The ...

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Business & Money | Wednesday 20 May, 2026 11:16 am

Saudi Awwal Bank Signs SAR 6.4 Billion Financing Agreement with AlBawani

 Saudi Awwal Bank (SAB), one of the leading banks in the Kingdom of Saudi Arabia, has signed a SAR 6.4 billion bilateral financing agreement with AlBawani,  one of the companies in which the Public Investment Fund (PIF) ultimately holds a stake, and  which stands among the major...

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Business & Money | Monday 18 May, 2026 11:03 am

Real Estate General Authority Showcases Saudi Real Estate Regulation at WUF13

The Real Estate General Authority is taking part in the 13th World Urban Forum (WUF13), organized by the United Nations Human Settlements Programme (UN-Habitat) in Baku, the Republic of Azerbaijan, from May 17 to 22, 2026, under the theme “Housing the world: Safe and resilient cities and...

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Business & Money | Monday 18 May, 2026 10:13 am

Taiba signs SAR 2.4M agreement to develop, operate 3 hotels in Madinah

Taiba Investments Co. signed final partnership agreement on May 17 with Osool Integrated Real Estate Co. to establish a special purpose vehicle (SPV) with a total investment size of SAR 2.4 billion.Taiba will contribute SAR 300 million to the SPV, which is set to implement the development...

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