Business & Money | Wednesday 18 September, 2024 11:04 am

SARCO to secure SAR 500M facilities from Riyad Bank

Saudi Arabia Refineries Co. (SARCO) signed an agreement with Riyad Bank to secure SAR 500 million Shariah-compliant facilities.   The facility term will be three years, or 360 renewable days, said the company, indicating that the loan was guaranteed by its investment...

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Business & Money | Wednesday 18 September, 2024 11:00 am

Contracting committee studies ways to ease rise in building material prices

The Permanent Coordination Committee for the Development of the Contracting Sector is studying proposals to address challenges to reduce building materials price inflation, said Waleed Sultan, General Supervisor for Classification Development at the Ministry of Municipalities and...

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Business & Money | Wednesday 18 September, 2024 10:38 am

Saudi Top pens contract to buy polycarbonate waste from SABIC

Saudi Top for Trading Co. signed a contract with Saudi Basic Industries Corp. (SABIC) to buy polycarbonate waste from SABIC.   In a statement to Tadawul, the company said that the contract has a term of three years starting from Oct. 1, 2024, adding that the deal will contribute to...

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Business & Money | Wednesday 18 September, 2024 10:18 am

GEA, Kafalah to provide financial support to SMEs

The General Entertainment Authority (GEA), in partnership with the Small and Medium Enterprises Loan Guarantee Program (Kafalah), will provide financial support to SMEs of up to SAR 100 million to boost and empower the entertainment sector and stimulate economic growth, Chairman Turki Al-Sheikh...

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Business & Money | Wednesday 18 September, 2024 8:37 am

Saudi Maritime & Logistics Congress opens today!

The fifth edition of Saudi Maritime & Logistics Congress - sponsored by His Excellency the Minister of Transport and Logistic Services, Eng. Saleh bin Nasser Al-Jasser - opens today at the Dhahran Exhibition Centre, Dammam, Kingdom of Saudi Arabia until 19th September. Showcasing...

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Business & Money | Tuesday 17 September, 2024 10:18 am

SOL Properties announces upcoming projects with anticipated AED 12 billion GDV, elevating country’s real estate market

SOL Properties, a leading real estate developer in the UAE and the premier real estate development arm of the Bhatia Group, announced the launch of a series of high-end projects with an anticipated Gross Development Value (GDV) of AED 12 billion in the next six months. These projects are expected...

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Business & Money | Tuesday 17 September, 2024 9:23 am

SAIB plans $1.5B sukuk program

The Saudi Investment Bank (SAIB) plans to establish a US dollar-denominated Tier I sukuk program, not exceeding $1.5 billion. Further, the bank intends to issue Tier I sukuk under the program through private placement to qualified investors.   In a statement to Tadawul, the bank ...

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Business & Money | Tuesday 17 September, 2024 9:21 am

Industry Minister launches Rafed Program for university-based factories

Bandar Alkhorayef, Minister of Industry and Mineral Resources, launched today, Sept. 16, the Rafed Program, which aims to establish innovative factories at universities and technical colleges across the Kingdom, the Saudi Press Agency reported.  The program aims to develop effective...

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Business & Money | Tuesday 17 September, 2024 12:39 am

Light + Intelligent Building Middle East to showcase latest smart building solutions as sector nears US$23 billion in MEA region

Smart buildings are becoming an increasingly crucial component of global sustainability efforts, particularly in the Middle East and Africa (MEA), where the smart building market is anticipated to grow significantly, with projections indicating that it could reach a value of US$23.31 billion by...

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Business & Money | Tuesday 17 September, 2024 12:12 am

Al Fujairah National Insurance Co. Launches FloodGuard: Exclusive Flood, Storm, and Tempest Coverage for Third-Party Insured Motorists

Al Fujairah National Insurance Co. (AFNIC) announces the launch of “FloodGuard,” the region’s first insurance product exclusively covering accidental loss or damage from Flood, Inundation, Storm, and Tempest for third-party insured motorists. FloodGuard offers crucial coverage for...

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