Business & Money | Monday 2 June, 2025 10:12 am

First Avenue renews, increase SAR 320M credit facilities with Alinma Bank

First Avenue for Real Estate Development Co. renewed and increased a SAR 320 million Shariah-compliant credit facilities from Alinma Bank to support its expansion plans and the execution of its real estate projects. In a statement to Tadawul, the company said that the five-year facilities...

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Business & Money | Monday 2 June, 2025 9:09 am

Industry Ministry to set up 3 mining complexes in Riyadh, Makkah

The Ministry of Industry and Mineral Resources has allocated three sites for the establishment of mining complexes in Riyadh and Makkah regions, ministry spokesperson Jarrah bin Mohammed Al-Jarrah said in a statement. The allocated sites include two complexes in the Riyadh region—the first...

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Business & Money | Sunday 1 June, 2025 11:09 am

ADES wins SAR 129M contract in Cameroon

ADES Holding Co. was awarded, on May 30, a contract by Addax Petroleum Cameroon Ltd., valued for approximately SAR 128.9 million including mobilization and start-up fees. Under the new contract, ADES will operate its Admarine 510 jack-up offshore rig in Cameroon, marking the company’s entry...

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Business & Money | Sunday 1 June, 2025 9:29 am

Soudah Development Completes First Phase of Emergency Repairs at “Sheikh’s Fortress” Heritage Site in Rijal Almaa

Soudah Development, a Public Investment Fund company, has announced the completion of the first phase of emergency repairs at the historic “Sheikh’s Fortress” site in Rijal Almaa. It is one of the heritage sites located in Jareen, one of the six development zones within the Soudah Peaks...

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Business & Money | Saturday 31 May, 2025 8:18 am

Upgrade of 30% of Saudi plants to generate SAR 250B returns: Official

Khalil Salamah, Vice Minister of Industry Affairs, said the upgrade of 30% of Saudi Arabia’s factories will generate an economic return of up to SAR 250 billion, Al-Eqtisadiah newspaper reported.   He added that the upgrade requires significant financial investments, noting that...

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Government | Saturday 31 May, 2025 8:14 am

Digital economy accounts for 15.6% of Saudi GDP in 2023: GASTAT

The digital economy accounted for 15.6% of Saudi Arabia's GDP in 2023, marking a 1.6% increase compared to 2022, according to the Digital Economy Statistics Bulletin 2023 issued recently by the General Authority for Statistics (GASTAT). As for the structure of the digital economy, the core...

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Business & Money | Saturday 31 May, 2025 5:23 am

Hong Kong aims to deepen partnership with Saudi Arabia: Minister

Hong Kong finance chief Paul Chan said the city seeks to strengthen its partnerships with the Middle East, especially Saudi Arabia. During his participation in the Capital Markets Forum, attended by Argaam, Chan referred to growing cooperation with Riyadh, Abu Dhabi, and Dubai in the fields of ...

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Business & Money | Thursday 29 May, 2025 11:43 am

ACWA Power Forges Strategic Partnerships in Malaysia with Potential Investments of up to USD 10 Billion

ACWA Power, the world’s largest private water desalination company, and a leader in energy transition and first mover into green hydrogen, announced the signing of Memorandum of Understanding (MoU) and Strategic Partnership Agreements (SPA) with key Malaysian entities during the ASEAN-GCC Summit...

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Business & Money | Thursday 29 May, 2025 9:20 am

alrajhi bank recognized for SAR 44 million contribution to Autism Center of Excellence

Under the patronage of His Excellency the Governor of the Saudi Central Bank, Mr. Ayman Alsayari, the Autism Center of Excellence (ACE) honored alrajhi bank—represented by Chairman Mr. Abdullah bin Sulaiman Al Rajhi—for its SAR 44 million contribution to the establishment and operation of the...

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Business & Money | Wednesday 28 May, 2025 12:02 pm

NASPAA 2025 Regional Conference Kicks Off at KAPSARC with Visionary Academic Exchange

The 2025 NASPAA Regional Conference opens today at the KAPSARC School of Public Policy, marking a historic milestone as the first NASPAA event of its kind to be held in Saudi Arabia. The conference brings together distinguished scholars, senior policymakers, and public policy experts from around...

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