Business & Money | Tuesday 10 October, 2023 2:35 pm

PIF sets up Tasaru mobility investments

Saudi Arabia’s Public Investment Fund (PIF) launched today, Oct. 10, the National Automotive and Mobility Investment Co. (Tasaru Mobility Investments) specialized in developing local supply chain capabilities for the automotive and mobility industry in the Kingdom. According to a statement...

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Business & Money | Tuesday 10 October, 2023 11:37 am

SUN SIYAM IRU FUSHI RECEIVES INTERNATIONAL SUSTAINABLE AWARD FOR SUN SIYAM CARES INITIATIVE

Sun Siyam Iru Fushi has been honored with the prestigious International Sustainable Award by Luxury Lifestyle Awards. This recognition celebrates the outstanding commitment of Sun Siyam Resorts to sustainability through its Sun Siyam Cares initiative, exemplifying the brand's dedication to setting...

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Business & Money | Tuesday 10 October, 2023 10:58 am

Borouge signs agreement with NPCC to supply critical materials for energy projects in UAE

Borouge Plc today announced that it has signed an agreement with the National Petroleum Construction Company (NPCC), a UAE-based Engineering, Procurement and Construction (EPC) Company.The two-year agreement includes a sales contract worth nearly AED60 million, wherein Borouge will supply steel...

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Business & Money | Tuesday 10 October, 2023 10:50 am

Masdar signs MoU with Malaysia to develop up to 10GW of renewable energy projects

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, has signed a Memorandum of Understanding (MoU) with the Malaysian Investment Development Authority (MIDA) to invest US$8 billion for up to 10 gigawatts (GW) of renewable energy projects in a strategic partnership...

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Business & Money | Tuesday 10 October, 2023 10:41 am

Saudi Arabia to operate first passenger hydrogen train demo in October

Saudi Arabia Railways (SAR), in partnership with France’s Alstom, will operate and demonstrate the world's first hydrogen-powered train in Riyadh in October.    The Coradia iLint train will embark on a first-ever...

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Business & Money | Tuesday 10 October, 2023 10:24 am

“Naif Alrajhi Investment” Makes Strategic Move with Significant Stake Acquisition in “Veyron Marketing”

Naif Alrajhi Investment, a premier Saudi investment group, has recently acquired a significant stake in Veyron Marketing, a leading name in Saudi Arabia's marketing and advertising sector. Veyron, renowned for its rapid growth, specializes in the strategic planning and execution of both local and...

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Business & Money | Tuesday 10 October, 2023 10:05 am

Saudi Arabia launches first phase of Red Sea destination

Red Sea Global announced on Oct. 9 launching the first phase of Red Sea destination and starting to receive visitors from all over the world. This achievement will help boost the local tourism sector, the company said on X platform. In July, CEO John Pagano said the company is largely on...

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Business & Money | Tuesday 10 October, 2023 10:02 am

Saudi Fund for Development Signs New $20 Million Development Loan Agreement to Construct and Equip Schools in Tajikistan

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed today a new development loan agreement with the Minister of Finance of the Republic of Tajikistan, H.E. Kahhorzoda Fayziddin Sattor, through which SFD is contributing $20 million USD to fund the...

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Business & Money | Tuesday 10 October, 2023 9:40 am

Cisco Announces Plan for New Data Centers in Saudi Arabia for Webex Collaboration Platform – The First in the Region

Cisco today announced plans to establish data centers in the Kingdom of Saudi Arabia (KSA) to better serve customers using its collaboration platform, Webex. The data centers are scheduled to be operational in the second half of 2024. For his part, H.E. Vice Minister of Communications and ...

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Business & Money | Tuesday 10 October, 2023 9:21 am

Saudia Launches Recycling Initiative in Collaboration with PepsiCo

Saudia, the national flag carrier of Saudi Arabia and PepsiCo have signed a Memorandum of Understanding (MoU) to implement a  program that collects recyclable material onboard Saudia flights and divert them from landfill, as part of a long-term sustainability plan. The agreement follows the...

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