Business & Money | Monday 23 October, 2023 8:25 am

PIF, Hyundai Motor sign JV agreement on automotive manufacturing plant in Saudi Arabia

The Public Investment Fund (PIF) and Hyundai Motor Company (Hyundai) announced the signing of a joint venture (JV) agreement to establish a highly automated vehicle manufacturing plant in Saudi Arabia.   PIF will hold a 70% stake in the new joint venture with Hyundai holding the...

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Business & Money | Sunday 22 October, 2023 2:52 pm

Saudi Electricity plans SAR 500 bln investment by 2030

Saudi Electricity Co. (SEC) announced that it plans to invest around SAR 500 billion by 2030 to build electricity transmission networks and ensure connectivity between all regions of the Kingdom by deploying cutting-edge technologies.   The company made the announcement...

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Business & Money | Sunday 22 October, 2023 1:44 pm

Majeed Al Abduljabbar appointed as the CEO of Saudi Real Estate Refinance Company (SRC)

The Board of Directors of the Saudi Real Estate Refinance Company (SRC), wholly owned by the PIF and headed by His Excellency the Minister of Municipal and Rural Affairs and Housing, Mr. Majed bin Abdullah Al-Hogail, announced today that Mr. Majeed Al Abduljabbar will assume the role of Chief...

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Business & Money | Sunday 22 October, 2023 12:57 pm

Saudi Arabia sure to become key player in global supply chains: Alkhorayef

The Kingdom of Saudi Arabia is betting that it will be one of the major countries in the world to contribute to supply chains in general, said Minister of Industry and Mineral Resources, Bandar Alkhorayef.   During the fifth session of the Supply Chains and Logistics Services...

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Business & Money | Sunday 22 October, 2023 12:11 pm

Saudi has to grow value chains’ contribution for economic diversification: Minister

Saudi Arabia should grow contribution to the value chains to achieve economic diversification in the different industries, said Saleh Al-Jasser, Minister of Transport and Logistic Services. Supply chains represent the basis to increase the economic presence through localizing the content of...

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Business & Money | Sunday 22 October, 2023 12:09 pm

Monsha'at supports 160 enterprises to list on stock market

As many as 160 enterprises were qualified for listing on the stock market, of which 14 were already listed, with the support of the Small and Medium Enterprises General Authority (Monsha'at), Sami Alhussaini, Monsha'at Governor stressed in his speech during Riyadh’s CEOs Forum dated Oct....

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Business & Money | Sunday 22 October, 2023 12:06 pm

"Jazeera Paints" Shares Its Experiences and Know-How in Yemen

“Jazeera Paints”, the leading company in the industry of paints, colors and construction solutions in KSA and MENA, resumed its “All in One” seminar series in Aden city, Yemen, which was attended by multiple officials and a group of engineers, designers, senior contractors and...

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Business & Money | Sunday 22 October, 2023 11:10 am

Arcapita GCC Industrial AUM reaches $1bn

Arcapita Group Holdings limited (“Arcapita”), the global alternative investment firm, is currently managing $1 billion of industrial real estate assets, making it one of the largest industrial real estate platforms in the GCC region. The firm is expected to double its GCC logistics AUM by 2025...

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Business & Money | Sunday 22 October, 2023 8:53 am

Alkhorayef Water lands SAR 40.7 mln contract to operate Hail’s sewage, water networks

Alkhorayef Water and Power Technologies Co. (AWPT) was awarded on Oct. 19 a VAT-exclusive contract at a total value of SAR 40.74 million for the operation and maintenance of the sewage and water network in Hail region.   The company expects the financial impact of the 36-month...

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Business & Money | Sunday 22 October, 2023 8:51 am

GACA issues September classification for air carriers, airports

The General Authority of Civil Aviation (GACA) issued an index for the classification of air transport service providers and airports based on the number of complaints filed by travelers to the authority in September. GACA stated that the total number of complaints submitted by passengers on...

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