Business & Money | Thursday 2 January, 2025 9:43 am

Al Kathiri board approves setting up subsidiary with SAR 1M capital

Al Kathiri Holding Co.’s board of directors, on Dec. 31, 2024, approved the establishment of a new wholly-owned subsidiary, Saraya Al Diyar Investment Co, a limited liability company with a capital of SAR 1 million. In a statement to Tadawul, the company said it is subject to obtaining the...

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Business & Money | Thursday 2 January, 2025 9:41 am

Al Jouf Agricultural signs SAR 160M facilities agreement with BSF

Al Jouf Agricultural Development Co. signed a bank facilities agreement with Banque Saudi Fransi (BSF) at a total value of SAR 160 million. The facilities, which are guaranteed by a promissory note, have a term of one year until Dec. 31, 2025, the company said in a statement to...

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Business & Money | Thursday 2 January, 2025 9:33 am

Riyad Bank plans SAR-denominated additional Tier 1 capital sukuk issuance

Riyad Bank plans to issue SAR-denominated additional Tier 1 capital sukuk through a private placement in Saudi Arabia, under its SAR 10 billion additional tier 1 capital sukuk program. Riyad Capital was hired as the sole lead manager for the potential offer, the bank said in a statement to...

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Business & Money | Thursday 2 January, 2025 9:25 am

Batic wins SAR 96.2M contract for Haramain Railway

Batic Investments and Logistics Co. was awarded today, Jan. 1, a contract valued at SAR 96.19 million, inclusive of VAT, for the Haramain High-Speed Railway’s security guards and patrols project. Batic’s subsidiary, Arab Company for Security and Safety Services (AMNCO), secured the project ...

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Business & Money | Thursday 2 January, 2025 9:22 am

SRC and Hassana Investment Company Sign MoU to Develop the Securitization Markets in the Kingdom

The Saudi Real Estate Refinance Company (SRC), a PIF company, has signed a Memorandum of Understanding (MoU) with Hassana Investment Company (Hassana), the investment arm company of the General Organization for Social Insurance, aiming to achieve the goals of the Kingdom of Saudi Arabia's Housing...

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Business & Money | Wednesday 1 January, 2025 10:35 am

RAK rings in 2025 with record-breaking New Year’s Eve drones, fireworks display

Ras Al Khaimah welcomed 2025 with a captivating drone and fireworks display, setting two new Guinness World Records titles for the "largest aerial display of a tree formed by multirotors/drones" and the "largest aerial image of a seashell formed by multirotors/drones". Dubbed "Our Story in the ...

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Business & Money | Wednesday 1 January, 2025 10:32 am

Emirates to operate Airbus A350 to Kuwait, Bahrain starting January 8

Emirates is bringing forward the deployment of its Airbus A350 to Kuwait and Bahrain. Services will start 8 January, making them the second and third destinations to be served by the airline’s newest aircraft, according to a press statement released by the air carrier today. Emirates will...

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Business & Money | Wednesday 1 January, 2025 10:29 am

Dubai Jewellery Group announces flash sale during DSF

Dubai Jewellery Group (DJG) has announced a flash sale weekend during the Dubai Shopping Festival (DSF) on January 4th and 5th, 2025. Shoppers can save between 55% to 85% on select diamond and pearl jewellery. In addition, participants stand a chance to win a share of AED1.5 million in gold as ...

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Business & Money | Wednesday 1 January, 2025 10:27 am

Industrial sector's contribution to UAE's GDP surged by 57%: Sultan Al Jaber

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, stated that the industrial sector's contribution to the UAE's GDP has surged by 57%, with projections exceeding AED210 billion. In press statements, he added that the UAE industrial exports have experienced robust...

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Business & Money | Wednesday 1 January, 2025 10:25 am

Ruwad launches industrial sector financing programme

As part of its efforts to enhance and stimulate the entrepreneurship environment in the Emirate of Sharjah, the Sharjah SME "Ruwad" announced the launch of the industrial sector financing programme, with a financing ceiling of up to AED800,000, in addition to other advantages related to the grace...

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