Business & Money | Monday 18 September, 2023 9:04 am

Sharjah Islamic Bank Introduces Screen Reader Integration for its Mobile Banking App

Sharjah Islamic Bank (SIB) announced its success in adapting its mobile banking application with the screen reader service to serve people with visual disabilities as the first service of its kind in the United Arab Emirates.This step came after the specialised technical departments at Sharjah...

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Business & Money | Monday 18 September, 2023 8:53 am

Jahez says The Chefz deal subject to conditions

Jahez International Company for Information System Technology said that the completion of the acquisition of The Chefz under the share and purchase agreement (SPA) remains subject to a number of other conditions.   In a statement on Tadawul, Jahez said the conditions include...

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Business & Money | Monday 18 September, 2023 8:50 am

Sadr starts commercial ops at wooden pallet factory in Riyadh

Sadr Logistics Co. (Sadr) announced the commencement of commercial operations at its wooden pallet factory in Riyadh Second Industrial City, affiliated with the Saudi Authority for Industrial Cities and Technology Zones (MODON), after fulfilling all necessary requirements and...

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Business & Money | Monday 18 September, 2023 8:44 am

TAWAL inks 2 deals with Sela, Sawani to build CIT infrastructure

Telecommunications Towers Co. (TAWAL), a subsidiary of stc Group, signed two agreements with Sela Co. and Sawani Co. to build communications and information technology (CIT) infrastructure. The agreement with Sela entails the deployment of advanced and unified sharable CIT...

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Business & Money | Monday 18 September, 2023 8:42 am

Halwani Bros renews SAR 210 mln credit facility with Al Rajhi Bank

Halwani Bros Co. signed a renewal agreement for a Shariah-compliant credit facility worth SAR 210 million with Al Rajhi Bank.   The facility, which will finance working capital, is valid until the end of July 2024, to be renewed annually, according to a Tadawul...

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Business & Money | Monday 18 September, 2023 8:35 am

Knowledge City signs SAR 143 mln credit facility with Al Rajhi Bank

Knowledge Economic City Co. (KEC) signed on Sept. 17 a Shariah-compliant credit facility agreement worth SAR 143 million with Al Rajhi Bank.   Of the total, SAR 118 million will go towards the execution costs for ongoing project, and SAR 25 million to support working capital, KEC...

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Business & Money | Monday 18 September, 2023 7:00 am

Walaa Insurance board proposes SAR 425 mln rights issue to raise capital

The board of Walaa Cooperative Insurance Co. recommended, on Sept. 17, increasing the company’s capital through a SAR 425 million rights offering.    In a statement to Tadawul, the insurer pointed out that the capital increase aims to...

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Business & Money | Sunday 17 September, 2023 1:00 pm

Naif Alrajhi Investment Clinches Prestigious Contract to Develop District One in the King Salman Park Project

Naif Alrajhi Investment group has announced its winning of a real estate development contract for the first real estate investment land parcel in King Salman Park in Riyadh. The project is being undertaken in partnership with the King Salman Park Company for Investment and Real Estate Development,...

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Business & Money | Sunday 17 September, 2023 11:47 am

Sakani says 8,700 families received first homes in August

Sakani Program stated that 10,250 families benefited from the program in August, with a rise of more than 23% compared with 8,303 in July.   In a statement, the program added that the number of families that received their first homes during the same month amounted to...

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Business & Money | Sunday 17 September, 2023 9:28 am

S&P affirms Saudi Arabia’s credit rating at A/A-1, stable outlook

Standard & Poor's (S&P) affirmed its credit rating for Saudi Arabia in local and foreign currencies at “A/A-1” with a stable outlook in a recent report.    S&P maintained its credit rating, backed by the Kingdom’s efforts to proceed with significant...

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