08 Rajab 1446 - 7 January 2025
    
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Eye of Riyadh

Social Development Bank grants SAR 8B financing in 2024
Business & Money | Saturday 28 December, 2024 9:57 am
The Social Development Bank (SDB) provided SAR 8 billion financing in 2024, achieving its full-year targets in financing and developmental support, alongside expanding its non-financial services, the state-run SPA reported.   SDB said 122,000 benefited from the bank’s loans. A...
Oman exempts Saudi investors from taxes in Madayn: Official
Business & Money | Saturday 28 December, 2024 9:55 am
Oman decided to exempt Saudi industrial investors in Industrial Estates (Madayn) from taxes, Al-Eqtisadiah reported, citing Nasser Al-Hajri, Chairman of the Saudi-Oman Business Council.   This announcement was made during meetings held between the Saudi-Oman Business Council and Qais ...
Al-Hilal SFC makes SAR 33.4M profit in FY 2023/24
Business & Money | Saturday 28 December, 2024 9:52 am
Al-Hilal Saudi Football Club reported net profits of SAR 33.37 million for the fiscal year 2023/24. Net profit margins reached 1.5%. Total revenue exceeded SAR 1 billion, compared to activity expenses of SAR 923.5 million. The current ratio rose to 0.89 in June 2024 from 0.61 a year...
Dubai Maritime Authority announces Comprehensive Plan for Marine Traffic on New Year's Eve 2025
Business & Money | Saturday 28 December, 2024 9:26 am
The Dubai Maritime Authority, of the Ports, Customs and Free Zone Corporation, has announced the adoption of a mandatory plan to manage marine traffic during New Year's Eve 2025. This initiative aims to enhance maritime safety and regulate traffic during a night that sees an increased density of...
NWC completed implementation of water networks and reservoirs to serve Sabia Governorate and 44 villages in Jazan
Business & Money | Saturday 28 December, 2024 5:04 am
The National Water Company (NWC), represented by the Southern Cluster, announced that it has started operation of 5 water projects to serve Sabia Governorate and 44 of its  villages. The company embarked on operation in order to keep up with the increasing demand for water services...
Roshn launches first Makkah project on 21m sqm
Business & Money | Friday 27 December, 2024 9:24 am
ROSHN Real Estate Co., a wholly-owned subsidiary of the Public Investment Fund (PIF), announced the groundbreaking of Al-Manar Community, marking its first fully integrated residential development in Makkah. Al-Manar Community spans 21 million square meters (sqm) and will feature over 33,000...
Leejam approves CEO resignation, Abdulelah Al-Nemr succeeds
Business & Money | Friday 27 December, 2024 9:22 am
Leejam Sports Co.’s board of directors approved today, Dec. 26, the resignation of CEO Adnan Al-Khalaf. In a statement to Tadawul, the company said Al-Khalaf’s resignation was due to his decision not to renew his contract. His resignation will take effect upon expiry of his post on Feb....
Al Yamamah Steel holds 60% of Saudi renewable energy market: CEO
Business & Money | Friday 27 December, 2024 9:19 am
Al Yamamah Steel Industries Co.’s CEO Sahel Al Thobiti stated that the company controls over 60% of renewable energy projects in Saudi Arabia and exports to select international markets.   In an interview with CNBC Arabia, he said the company reported a 340% year-over-year (YoY)...
Azizi Azure, part of the fourth phase of Riviera, hits 85% construction milestone
Business & Money | Friday 27 December, 2024 12:33 am
Azizi Developments, a leading private real estate developer in the UAE, has announced the noteworthy progress of Azizi Azure, part of the fourth phase of Riviera, its French Mediterranean-inspired waterfront community located in the highly sought-after Mohammed Bin Rashid City, amid Dubai’s most...
Saudi Networkers signs SAR 50M credit facilities deal with Al Rajhi Bank
Business & Money | Thursday 26 December, 2024 11:54 am
Saudi Networkers Services Co. signed, on Dec. 24, a Shariah-compliant credit facilities agreement worth SAR 50 million with Al Rajhi Bank. In a statement to Tadawul, the company said the funding period lasts until Oct. 31, 2025, and the credit will be used to finance working capital. The...
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