Business & Money | Sunday 21 July, 2024 10:53 am

PIF offers to up stake in Selfridges to 50%: Report

The Public Investment Fund (PIF) has made an offer to raise its stake in Selfridges to 50%, according to documents seen by Bloomberg News.The Kingdom’s sovereign wealth fund already owns a 10% share in the Selfridges properties and has offered to buy the remaining 40% stake for a cash price...

More Details

Business & Money | Sunday 21 July, 2024 10:42 am

Alandalus constructs commercial center in Makkah for SAR 831 million including land value

Alandalus Property Co. began construction of a qualitative commercial center in Makkah, at a total estimated cost of SAR 831 million including the value of land. In a statement to Tadawul, the company said that the project will be financed mainly by bank loans through the project company, and...

More Details

Business & Money | Sunday 21 July, 2024 10:37 am

Budget Saudi completes acquisition of AutoWorld

United International Transportation Co. (Budget Saudi) announced completing the acquisition of Al Jazira Equipment Co. (AutoWorld) through Aljozoor Alrasekha Trucking Co. (Rahaal), its wholly owned subsidiary, according to a statement to Tadawul.  Budget Saudi completed the...

More Details

Business & Money | Sunday 21 July, 2024 10:19 am

Sure Global bags SAR 24M deal with Ministry of Tourism

Sure Global Tech Co. won a project worth SAR 23.97 million, including VAT, from the Ministry of Tourism for the expansion of the infrastructure devices in data centers, according to Tadawul statement. Under the two-year contract, the company aims to provide the ministry with the infrastructure ...

More Details

Business & Money | Sunday 21 July, 2024 9:58 am

RAKBANK issues first ever public Social Bond in the GCC.

RAKBANK is pleased to announce the successful issuance of its 5-year Euro Medium-Term Note (EMTN) Bond under its Social Finance Framework. Given the very strong demand and investor interest, it was oversubscribed by more than 3X allowing us to upsize the issue to USD 600MM and tighten the pricing...

More Details

Business & Money | Sunday 21 July, 2024 9:54 am

Akasa Air Commences Operations from Jeddah; and Strengthens Its Presence in the Kingdom of Saudi Arabia

Akasa Air, India's fastest-growing airline, commenced operations from Jeddah, connecting it with two prominent Indian cities – Mumbai and Ahmedabad with direct flights. The inaugural flight on 15th July 2024 departed Chhatrapati Shivaji Maharaj International Airport in Mumbai at 1935hrs IST...

More Details

Business & Money | Sunday 21 July, 2024 9:52 am

Saudi Esports Federation Legacy Museum opens at the SEF Arena at Boulevard Riyadh City

The Saudi Esports Federation (SEF) today opened a Legacy Museum in Riyadh, documenting the work of the federation since its inception and celebrating Saudi Arabia’s impact on the global gaming and esports industry. The museum, located at the SEF Arena at Boulevard Riyadh City, features...

More Details

Business & Money | Sunday 21 July, 2024 9:49 am

UAE launches global initiative to build 10 hospitals to address critical healthcare gaps as part of Zayed Humanitarian Legacy Initiative

The United Arab Emirates has unveiled an ambitious program aimed at bridging critical healthcare gaps worldwide as part of the Zayed Humanitarian Legacy Initiative, announced in March of this year by President His Highness Sheikh Mohamed bin Zayed Al Nahyan. With a substantial financial investment...

More Details

Business & Money | Sunday 21 July, 2024 8:28 am

Azizi Developments and IFG join forces for Burj Azizi skyscraper

Azizi Developments, a leading private developer in the UAE, has signed an agreement with International Foundation Group LLC, which specializes in deep foundation and ground solutions, for the piling, shoring, excavation, and dewatering works for Azizi’s second tallest tower in the world, Burj...

More Details

Business & Money | Saturday 20 July, 2024 1:01 am

NHC, China's CSCEC ink deal to build 20,000 housing units in Saudi

National Housing Co. (NHC) signed an agreement with China State Construction Engineering Corporation (CSCEC) to build 20,000 housing units in NHC's suburbs and communities Kingdom-wide.   Under this partnership, a total of 20,000 housing units of various areas will be constructed....

More Details