Business & Money | Tuesday 31 December, 2024 9:54 am

Investors not in Saudi Arabia missing golden opportunity: Alkhorayef

Minister of Industry and Mineral Resources Bandar Alkhorayef said that investors not investing in Saudi Arabia are missing a golden opportunity, primarily multinational companies that seek to export products to global markets. In an interview with Asharq News, he noted that the Saudi market is ...

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Business & Money | Tuesday 31 December, 2024 9:50 am

WAJA obtains SAR 16M financing from Alinma Bank

WAJA Co. signed a Shariah-compliant facility agreement worth SAR 16 million with Alinma Bank. In a statement to Tadawul, the company said the funds would go towards financing Shariah-compliant letters of credit, bank guarantees, and Tawarruq. The financing period is one year and the...

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Business & Money | Tuesday 31 December, 2024 9:48 am

Commerce Ministry approves Binyah capital hike to SAR 300M: Al Akaria

Saudi Real Estate Co. (Al Akaria) stated that its 60%-owned subsidiary Saudi Arabia Real Estate Infrastructure & Construction Co. (Binyah) obtained on Dec. 30 the Ministry of Commerce approval to increase capital from SAR 50 million to SAR 300 million. In a Tadawul statement, the company...

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Business & Money | Tuesday 31 December, 2024 9:43 am

2P reaches SAR 4M settlement for headquarters fire

Perfect Presentation for Commercial Services Co. (2P) stated that it reached on Dec. 30 a full and final settlement of SAR 4 million with Arabian Shield Insurance Co. for the insurance claim for damages from the fire that broke out at the company’s headquarters. The relevant financial impact ...

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Business & Money | Tuesday 31 December, 2024 9:38 am

ACWA Power signs SAR 2.64B financing for wind power plant in Egypt

ACWA Power Co. signed on Dec. 30 financing agreements for the development, construction, operation and maintenance of a 1,100-megawatt wind power plant in Suez Governorate, Egypt. The project, valued at SAR 2.64 million, will be financed over a period of 20 years. In a statement to...

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Business & Money | Monday 30 December, 2024 12:37 pm

Economic Content Creators Programme explores engaging storytelling techniques in its second week

The second week of the Economic Content Creators Programme, organised by the Dubai Press Club with the support of the Ministry of Economy, featured expert-led lectures and workshops on crafting engaging stories and understanding the global economic landscape, including the influence of financial...

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Business & Money | Monday 30 December, 2024 12:34 pm

Number of factories in Saudi Arabia crosses 12,000: Alkhorayef

The number of factories in Saudi Arabia has surpassed 12,000, reflecting significant investments driven by strong demand and stability, particularly in local content, Minister of Industry and Mineral Resources Bandar Alkhorayef said. In an interview with Al Ekhbariya, Alkhorayef emphasized...

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Business & Money | Monday 30 December, 2024 10:58 am

Ministry of Energy and Infrastructure marks notable achievements in 2024

The UAE, through the Ministry of Energy and Infrastructure, has made notable achievements across the energy, infrastructure, housing, and transportation sectors during 2024. These achievements are a testament to its steadfast commitment to enhancing sustainable development and ensuring the...

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Business & Money | Monday 30 December, 2024 10:35 am

Dubai International Project Management Forum 2025 attracts over 50 local, international speakers

Under the patronage of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of the Executive Council of Dubai, the Dubai International Project Management Forum (DIPMF) will host its 10th edition from 13th to 16th...

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Business & Money | Monday 30 December, 2024 10:27 am

117th Open Auction for Number Plates generates over AED81 Million

The 117th open auction for exclusive vehicle number plates in Dubai achieved total revenues of AED81.178 million, marking the highest proceeds in the history of Roads and Transport Authority (RTA) auctions since their inception. The auction, held on Saturday, 28th December 2024 at the...

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