Business & Money | Tuesday 20 August, 2024 8:55 am

PIF's AUMs leap 29% to SAR 2.87T, returns at 8.7%

The Public Investment Fund (PIF) stated that its assets under management (AUMs) leapt 29% to SAR 2.87 trillion in 2023, from SAR 2.23 trillion a year earlier, with redeemed amounts from other entities totaling SAR 20 billion, according to the fund's 2023 report. The fund's investments were...

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Business & Money | Monday 19 August, 2024 9:48 am

FTA organises 40 events in six months to raise awareness about Corporate Tax compliance

The Federal Tax Authority (FTA) intensified its awareness activities and events this year, organised to highlight the importance, objectives, procedures, and requirements for complying with the Corporate Tax Law, which came into effect last year and applies to financial years beginning on or after...

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Business & Money | Monday 19 August, 2024 9:45 am

Under patronage of Mohammed bin Rashid, Dubai to host annual World Congress of the World Free Zones Organisation in September

Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai is set to host the 10th edition of the annual World Free Zones Organisation (World FZO) World Congress. The event will take place in Madinat Jumeirah...

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Business & Money | Monday 19 August, 2024 9:38 am

Saudi EXIM credit facilities rise to SAR 16.3B in H1 2024

The Saudi Export-Import Bank (Saudi EXIM) has achieved a jump in credit facilities provided during the first half of 2024, totaling SAR 16.31 billion, up 128% year-on-year. This growth reflects the bank's commitment to supporting Saudi non-oil exports and expanding the Kingdom's global market...

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Business & Money | Monday 19 August, 2024 9:32 am

Red Sea signs SAR 658M contract with Webuild SpA

Red Sea International Co. signed today, Aug. 18, a contract worth SAR 658 million (VAT exclusive) with global heavy construction contractor Webuild SpA to build a staff camp serving the Trojena Dam project at NEOM. In a statement to Tadawul, Red Sea said the contract, valid for 12 months from...

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Business & Money | Monday 19 August, 2024 9:29 am

Cenomi Retail in negotiations with major retailer on potential deal

Fawaz Abdulaziz Alhokair Company (Cenomi Retail) announced it is in negotiations with a leading international fashion retailer as regards a potentially significant merger transaction involving certain fashion brands, according to a statement to Tadawul. Further material developments will be...

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Business & Money | Monday 19 August, 2024 9:26 am

Tibbiyah unit signs SAR 69.4M contract with National Guard Health Affairs

Arabian International Healthcare Holding Co. (Tibbiyah) announced that its 100% owned subsidiary, International Medical Supplies Co. (Premma Health), signed a SAR 69.4 million contract with the Ministry of National Guard Health Affairs, according to a statement to Tadawul.   Under...

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Business & Money | Monday 19 August, 2024 9:22 am

RAKEZ rolls out Workers Protection Insurance Programme in collaboration with RAKINSURANCE to enhance worker welfare in the emirate

Ras Al Khaimah Economic Zone (RAKEZ) announced the launch of Workers Protection Insurance Programme, a key initiative in partnership with RAKINSURANCE. This programme is set to significantly enhance the financial security and welfare of workers within the RAKEZ-registered companies, and aligns with ...

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Business & Money | Monday 19 August, 2024 9:17 am

Saudia Unveils Up to 50% Discounts on International Routes for Business and Guest Class

Saudia, the national flag carrier of Saudi Arabia, has introduced an exceptional promotional offer with discounts of up to 50% on international flights via King Abdulaziz International Airport in Jeddah and King Khalid International Airport in Riyadh. This initiative reflects Saudia's commitment to ...

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Business & Money | Monday 19 August, 2024 9:15 am

Saudia Ranks First Globally in On-Time Performance for the Second Consecutive Time

Saudia, the national flag carrier of Saudi Arabia, continues to top the global list for on-time performance (OTP), achieving this milestone for the second time consecutively, according to a report by the independent aviation tracking site, Cirium, for July2024.  The report indicates that...

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