Business & Money | Wednesday 27 November, 2024 10:45 am

Allianz SF shareholders approve name change to Mutakamela Insurance

Allianz Saudi Fransi Cooperative Insurance Co.’s (Allianz SF) shareholders approved an amendment to Article 2 of the company’s bylaws, changing the company’s name, during the extraordinary general meeting (EGM), held on Nov. 25. In a statement to Tadawul today, the company said its trade ...

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Business & Money | Wednesday 27 November, 2024 10:40 am

Unemployment among Saudis drop to historical low of 7.1% until Q2 2024

Unemployment among Saudis dropped to a historical low of 7.1% until Q2 2024, nearing the Saudi Vision 2030 target of 7%, Crown Prince Mohammed bin Salman said. Moreover, Saudi women participation rate in the labor market rose to 35.4% by the end of the second quarter, surpassing the Vision...

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Business & Money | Wednesday 27 November, 2024 10:36 am

RAKEZ unveils opportunities in UAE’s thriving construction sector at Big 5 Global

Ras Al Khaimah Economic Zone (RAKEZ) is set to highlight the dynamic growth opportunities in the UAE's construction sector at this year’s Big 5 Global exhibition, taking place at Dubai World Trade Center. RAKEZ Group CEO Ramy Jallad said, “As the UAE’s construction industry continues to...

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Business & Money | Wednesday 27 November, 2024 10:26 am

Bonyan REIT signs 5-year lease contract worth SAR 99.4M

Bonyan REIT signed a five-year lease agreement for the "1991 Center" building, valued at SAR 99.4 million (excluding VAT), according to Saudi Fransi Capital LLC, the fund’s manager. In a statement to Tadawul, the company said the lease will commence on Nov. 26, 2024. The property was fully...

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Business & Money | Wednesday 27 November, 2024 10:24 am

Americana subsidiary, Farm Frites partner on SAR 375M Riyadh French fry plant

The Agricultural Growth and Processing Co., a subsidiary of Americana Holding for Food Ltd, revealed a significant $100 million (SAR 375 million) investment in a frozen French fries manufacturing plant in Sudair City for Industry and Businesses, Riyadh. In a press statement cited by Argaam,...

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Business & Money | Wednesday 27 November, 2024 10:00 am

Second Global Aviation and Aerospace Skills Task Force Meeting concludes in Abu Dhabi

The UAE General Civil Aviation Authority (GCAA) successfully hosted the second meeting of the Global Aviation and Aerospace Skills Task Force (GAAST) in Abu Dhabi from 18th to 22nd November 2024. The event brought together key stakeholders from member states, industry leaders, and...

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Business & Money | Wednesday 27 November, 2024 9:25 am

SAB issues SAR-denominated Tier 1 sukuk

Saudi Awwal Bank (SAB) commenced the issuance of SAR-denominated additional Tier 1 (AT-1) Sukuk with a fixed rate and a floating rate Sukuk tranche, the lender said in a statement on Tadawul. The amount and terms of Sukuk issuance will be determined based on the market...

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Business & Money | Tuesday 26 November, 2024 4:44 pm

HORECA Riyadh 2024 and Salon du Chocolat et de la Pâtisserie Launch in the Heart of Riyadh

Today marked the opening of the 13th edition of HORECA Riyadh at the Riyadh International Convention & Exhibition Center, attended by distinguished figures, including Mrs. Mayada Badr, CEO of the Culinary Arts Commission, and Prince Waleed bin Nasser Al-Saud, Founder and CEO of Mukatafa,...

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Business & Money | Tuesday 26 November, 2024 11:06 am

Nofoth inks deal with Maqsood Restaurants to acquire brand for SAR 3.7M

Nofoth Food Products Co. signed, on Nov. 25, the final agreement to acquire Maqsood Restaurants’ trademark from Maqsood Restaurants Establishment in Saudi Arabia for SAR 3.7 million, according to a Tadawul statement. The deal includes the acquisition of Maqsood Restaurants’ trademark, in...

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Business & Money | Tuesday 26 November, 2024 11:04 am

Fakeeh Care buys land in Riyadh for SAR 35.2M to set up medical centre

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) purchased a land plot in Riyadh for SAR 35.21 million, excluding real estate transaction tax and brokerage fees, to establish a medical centre, according to a statement to Tadawul. The land plot in Al-Narjis District spans a total of...

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