Business & Money | Wednesday 25 December, 2024 9:22 am

SPIMACO obtains SAR 220M credit facilities from Alinma Bank

Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) inked a Shariah-compliant credit facility agreement with Alinma Bank for SAR 220 million, according to a statement to Tadawul. The agreement includes a short-term, one-year facility at SAR 20 million, and...

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Business & Money | Tuesday 24 December, 2024 2:25 pm

BSF shareholders OK capital hike to SAR 25B via bonus issue

Banque Saudi Fransi’s (BSF) shareholders approved a 107.4% capital increase from SAR 12.05 billion to SAR 25 billion during the extraordinary general meeting (EGM), held on Dec. 23, according to a statement to Tadawul. Capital Increase DetailsCurrent CapitalSAR 12.05 blnNumber of Shares1.205 ...

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Business & Money | Tuesday 24 December, 2024 10:41 am

Shalfa wins SAR 162M contract with Presidency of State Security

Shalfa Facilities Management Co. was awarded today, Dec. 23, a contract by the Presidency of State Security worth nearly SAR 162 million (VAT inclusive), the company said in a statement to Tadawul. According to the company, the contract entails providing operation, maintenance and cleaning...

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Business & Money | Tuesday 24 December, 2024 10:38 am

PIF assets hit $925B

The Public Investment Fund (PIF) took the sixth position among the world’s largest sovereign wealth funds (SWFs), after its net assets amounted to $925 billion, recent data from the SWF Institute showed. PIF's assets declined by $15.26 billion from $940.26 billion by the end of...

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Business & Money | Monday 23 December, 2024 10:17 am

MEDGULF inks contract with SEC at over 40% of 2023 revenue

The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) was awarded a one-year contract, on Dec. 22, from the Saudi Electricity Co. (SEC) to provide health insurance coverage for SEC employees. The value of the contract exceeds 40% of revenue as per the latest audited financial...

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Business & Money | Monday 23 December, 2024 9:43 am

MBSC Partners with SWA to Develop High-Impact Leaders through an Exclusive HIPO Program

In line with its unwavering commitment to fostering leadership excellence and promoting entrepreneurial growth, Prince Mohammed Bin Salman College of Business and Entrepreneurship (MBSC) has partnered with the Saudi Water Authority (SWA ) to design an innovative High-Potential Development...

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Business & Money | Sunday 22 December, 2024 8:14 am

Saudia Group Partners with the Riyadh Season 2024 to Launch the "BLVD Runway" Zone

Saudia Group has collaborated with Riyadh Season 2024 to unveil the "BLVD Runway" zone as part the season. This innovative zone, themed around an airport runway, is now open to visitors featuring three Saudia Boeing 777 aircraft that have been transformed to provide a unique setting for...

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Business & Money | Sunday 22 December, 2024 8:01 am

D360 Bank Secures Approval from Saudi Central Bank for Its Official Launch

D360 Bank has secured approval from the Saudi Central Bank (SAMA) to launch its digital banking operations. This groundbreaking achievement marks a key milestone for the Kingdom’s financial ecosystem, and for the bank's vision to become by 2030 the leading digital financial platform in Saudi...

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Business & Money | Sunday 22 December, 2024 7:55 am

Forbes Middle East Women's Summit Kicks Off in Riyadh Bringing Together A Remarkable Cohort of Visionary Female Leaders and Global Influencers

The second edition of Forbes Middle East’s Women’s Summit kicked off today at the Riyadh International Convention & Exhibition Center in Saudi Arabia. Celebrating the leadership and visionary achievements of women across the region, the summit serves as a premier platform to showcase the...

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Business & Money | Friday 20 December, 2024 6:45 am

NEOM inks pact with Samsung C&T for SAR 1.3B robotics construction project

NEOM signed an agreement to establish a joint venture with Samsung C&T to unlock an initial investment of more than SAR 1.3 billion in construction robotics.   The agreement will accelerate the development and deployment of cutting-edge construction automation technology in Saudi ...

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