Business & Money | Thursday 12 June, 2025 4:02 pm

SNB plans to issue USD-denominated debt instruments

Saudi National Bank (SNB) announced today, June 12, its intention to issue US dollar-denominated Tier 2 debt instruments under its Euro Medium Term Note (EMTN) program. The issuance will be through a special purpose vehicle and offered to qualified investors both inside and outside the...

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Business & Money | Thursday 12 June, 2025 3:59 pm

Saudia Launches Direct Flights Between Riyadh and Vienna, in Collaboration with the Air Connectivity Program

Saudia, the national flag carrier of Saudi Arabia, has inaugurated its first direct and scheduled flights from Riyadh to Vienna, the capital of Austria. This strategic route, launched in collaboration with the Air Connectivity Program (ACP), follows Saudia’s successful seasonal operations from...

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Business & Money | Wednesday 11 June, 2025 10:00 am

SEDCO Capital REIT board OKs Palm View acquisition for SAR 650M

SEDCO Capital, manager of the SEDCO Capital REIT Fund, announced that the fund’s board of directors signed a purchase agreement and completed the acquisition of Palm View office complex in Riyadh for SAR 650 million (excluding any acquisition-related fees). Located at Ad Diriyah, the...

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Business & Money | Wednesday 11 June, 2025 9:35 am

Wipro Strengthens Middle East Presence with New Regional Headquarters in Riyadh

 Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading AI-powered technology services and consulting company, announced the relocation of its Middle East regional headquarters from Al Khobar to Riyadh, Saudi Arabia. The new office in Riyadh was inaugurated in a ceremony attended by the ...

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Business & Money | Wednesday 11 June, 2025 8:44 am

Fitch expects M&A activity to accelerate in Saudi insurance sector

Fitch Ratings expects insurance market consolidation in Saudi Arabia to accelerate in the next two years, driven by tighter capital rules and weak underwriting profitability due to intense price competition. Some smaller insurers may struggle to meet new requirements or stay profitable,...

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Business & Money | Tuesday 10 June, 2025 4:13 pm

Saudi Arabia resumes Umrah visas for international pilgrims today

Saudi Arabia resumed today, June 10, issuing Umrah visas to international pilgrims, Ministry of Hajj and Umrah’s 2025-2026 Umrah calendar showed. The ministry will issue Nusuk Umrah permits starting June 11. In the Umrah season calendar, the ministry clarified that it will stop...

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Business & Money | Tuesday 10 June, 2025 4:04 pm

Saudi Electricity says operating plan of Hajj 2025 season ‘successful’

Saudi Electricity Co. (SEC) announced the “successful” completion of the operational plan for the Hajj 2025 season, with no power outages or emergency disruption affecting the public electrical grid in Makkah and the Holy sites. On its official X account, SEC said it registered the...

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Business & Money | Tuesday 10 June, 2025 3:58 pm

Saudi Arabia keen to support Syrian economy stability: Al-Falih

Minister of Investment Khalid Al-Falih emphasized the importance of creating a conducive environment to expand regional investment partnerships, the Saudi Press Agency reported. He also highlighted the Kingdom's commitment to supporting the stability and development of the Syrian economy to...

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Government | Saturday 7 June, 2025 10:49 am

Crown Prince praises Kingdom's efforts in serving pilgrims

Saudi Arabia's Crown Prince Mohammed bin Salman lauded the success of this year’s Hajj season, crediting it to the Kingdom’s commitment to serving the Two Holy Mosques and the pilgrims who visit them.    “The continued success we witnessed today in serving the Guests of...

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Business & Money | Friday 6 June, 2025 1:37 am

Port of NEOM welcomes first automated cranes

Port of NEOM, the integrated logistics hub in Oxagon, received the first batch of fully automated, remote-controlled ship-to-shore (STS) and electric rubber-tyred gantry (eRTG) cranes. The equipment is first-of-its-kind to deploy in Saudi Arabia and will significantly accelerate handling...

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