Business & Money | Thursday 16 November, 2023 10:35 am

Fitch maintains PIF at A+ with stable outlook

Fitch Ratings affirmed the Public Investment Fund’s (PIF) rating at 'A+', with a stable outlook.  Fitch maintained Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'A+', with a stable outlook. The affirmation reflects Fitch's unchanged assessment of very...

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Business & Money | Thursday 16 November, 2023 10:27 am

NWC: We executed two water projects in Al-Baha Region at +58 million SR

The National Water Company (NWC), represented by the Southern Cluster in the Al-Baha region, has announced the completion of two water projects worth more than 58 million Saudi Riyals. The two projects aim to strengthen the company's infrastructure and increase its operational...

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Business & Money | Wednesday 15 November, 2023 12:53 pm

Saudi Cable signs deal to transfer Noble Resources’ SAR 101.9 mln debt to Rawafid Al-Mustaqbal

Saudi Cable Co. (SCC) signed a tri-party agreement with Noble Resources International PTE. Ltd. and Rawafid Al-Mustaqbal Investment Co., which will take over Noble Resources’ SAR 101.9 million debt, according to a statement to Tadawul.      Rawafid Al-Mustaqbal aims...

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Business & Money | Wednesday 15 November, 2023 12:53 pm

Intersec 2024 to commemorate 25-year milestone edition in the region with a record number of exhibitors

The organiser of Intersec 2024, the world's leading trade fair for safety, security, and fire protection, is preparing to host the largest edition in the show’s 25-year history. Taking place from 16-18 January 2024 at Dubai World Trade Centre (DWTC), under the theme of ‘Innovating security tech ...

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Business & Money | Wednesday 15 November, 2023 8:44 am

Saudi Aramco awards 3 contracts to UAE’s NMDC for $1.82 bln

Saudi Aramco awarded three contracts at a total value of $1.82 billion (SAR 6.8 billion) to National Petroleum Construction Co. (NPCC) (NMDC Energy), a wholly owned subsidiary of National Marine Dredging Co. (NMDC). The scope of the project includes the replacement of the offshore subsea...

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Business & Money | Tuesday 14 November, 2023 2:32 pm

“Bidaya Finance” signs a cooperation agreement with “Emkan Alarabiya”

Bidaya Finance Company, the first digital platform in the field of financing individuals and companies, announced the signing of a memorandum of cooperation with “Emkan Alarabiya”, the leading company in the field of crowdfunding through a financial technology platform licensed by the Capital...

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Business & Money | Tuesday 14 November, 2023 1:45 pm

Big 5 Global 2023 covers the full spectrum of construction industry from inception to completion

Big 5 Global, the largest and most-influential construction industry event in the Middle East, Africa and South Asia (MEASA), taking place at Dubai World Trade Centre from 4 – 7 December 2023 and supported by the UAE Ministry of Energy and Infrastructure, unites the whole industry under one roof...

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Business & Money | Tuesday 14 November, 2023 10:06 am

Aslak inks MoU for potential acquisition

United Wire Factories Co. (Aslak) signed yesterday, on Nov. 13, a memorandum of understanding (MoU) with Al-Raeda Industrial Investment Co. for the potential acquisition of a stake in the latter upon reaching a final agreement, according to a statement to Tadawul.   The MoU will be...

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Business & Money | Tuesday 14 November, 2023 10:03 am

ROSHN has land bank of 200km, land plots in Dammam, Qatif: CEO

ROSHN Group, Saudi Arabia’s national community developer powered by the Public Investment Fund (PIF), has two new land plots in Dammam and Qatif which are still in the preliminary planning and design phase, CEO David Grover said in a TV program.   The Dammam location is adjacent to ...

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Business & Money | Tuesday 14 November, 2023 10:01 am

ACWA Power signs SAR 14.6 bln PPAs for 2 projects

ACWA Power signed on Nov. 13 power purchase agreements (PPAs) with Saudi Power Procurement Co. (SPPC) - Principal Buyer - for two large-scale combined cycle gas turbines (CCGT) power plants. The two plants are Taiba 1 and Qassim 1 for SAR 14.6 billion ($3.9...

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