Business & Money | Friday 22 December, 2023 2:20 am

SOUM Raises $18 Million series A round led by Jahez; Eyes $40 Billion Market for MENA Expansion

Soum, the Riyadh-headquartered marketplace for secondhand products, has successfully secured $18 million in Series A funding. This funding round is led by Jahez, with participation from Isometry Capital along with existing investors participating, Khwarizmi Ventures, Alrajhi Partners, and Outliers...

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Environment & Energy | Friday 22 December, 2023 2:08 am

Ministry of Energy launches platform to monitor petroleum products movement

The Ministry of Energy launched, during the Digital Government Forum 2023, a platform for monitoring the movement of petroleum products.   The platform will collect and analyze data on the movement of trucks transporting petroleum products. The data will be displayed at the...

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Business & Money | Friday 22 December, 2023 1:03 am

MIS signs SAR 152.7M contract with legal entity

Al Moammar Information Systems Co. (MIS) signed a project contract worth SAR 152.71 million, including VAT, with a legal entity.   In a statement to Tadawul, the company said the project spans a duration of six years.   The project details entails subscription and...

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Environment & Energy | Thursday 21 December, 2023 1:05 pm

ACWA Power signs agreement to develop green hydrogen project in Egypt worth more than $4 billion

Saudi-listed ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, has signed the framework agreement, following the MoU that was signed in 7th of December 2022 to outline the development of the first phase of the...

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Government | Thursday 21 December, 2023 11:52 am

Battling the Shadows: Dubai Customs' Vigilance Unveils Unprecedented Drug Smuggling Tactics in 2022-2023

The effective investment by Dubai Customs in training and refining the skills of inspectors, along with equipping customs centers with cutting-edge inspection devices, has resulted in the discovery of unprecedented methods for detecting smuggling activities. In the years 2022-2023, Dubai Customs...

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Business & Money | Thursday 21 December, 2023 11:21 am

NWC holds a workshop to discuss ways to develop the quality and sustainability of project materials

The National Water Company (NWC), represented by the (Projects and Technical Services and Shared Services) sectors, held a workshop on Sunday, December 17, at its headquarters in Riyadh to discuss ways to increase the local content of the industrial products used in drinking water and wastewater...

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Business & Money | Thursday 21 December, 2023 9:51 am

ADIB, Aldar Properties close AED 1 billion sustainability linked financing deal

Abu Dhabi Islamic Bank (ADIB) has arranged an AED 1 billion sustainable bilateral facility for Aldar Properties PJSC (Aldar). The financing takes Aldar’s total ESG financing facilities to AED 4.8 billion as the company transitions towards sustainable financing for its projects and...

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Business & Money | Thursday 21 December, 2023 9:46 am

Data residency in Saudi: MarTech leader WebEngage bets big on the Kingdom’s thriving business ecosystem

WebEngage, the leading marketing automation platform specializing in customer retention, today announced its ambitious roadmap for KSA. The marketing technology (MarTech) company will create data residency in December, subsequently storing clients’ data within the country, in a move reflective of ...

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Business & Money | Thursday 21 December, 2023 9:44 am

Avenues Al Khobar’s cornerstone laid for SAR 7.2B project, anticipated opening in 2027

Prince Saud Bin Nayef Bin Abdulaziz, Governor of the Eastern Province, presided on Dec. 20 over the cornerstone ceremony for the Avenues-Al Khobar project.   With a value exceeding SAR 7.2 billion, the project will be implemented by Shomoul Holding and is anticipated to be...

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Business & Money | Thursday 21 December, 2023 9:42 am

PureHealth Holding's share price soars 76% on first day of trading on ADX

PureHealth Holding's share price soared by more than 76% on its first day of trading on the Abu Dhabi Securities Exchange (ADX) today, closing at AED5.74 The share's opening price was AED3.26, before hitting a high of AED6.00 during the trading session. The company's market capitalisation also ...

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