Business & Money | Friday 10 May, 2024 12:30 am

Phase 2 of post trade infrastructure enhancements set for Q3 2024: Tadawul's CEO

Mohammed Al-Rumaih, CEO of Tadawul, announced that the second phase of its post-trade infrastructure development will launch in the third quarter of this year, marking the most significant upgrade to the Saudi financial market's infrastructure.   During The Capital Markets Forum in...

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Tourism & Hospitality | Friday 10 May, 2024 12:10 am

Saudi Arabia’s New Carrier Riyadh Air and AlUla partner to promote Saudi Arabia’s premier luxury heritage destination

AlUla, the ancient oasis city in the northwest of Saudi Arabia, has entered into a strategic partnership with Riyadh Air, Saudi Arabia’s new world-class airline which has announced an ambitious target to fly to over 100 destinations by 2030. Having signed a memorandum of understanding (MoU)...

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Business & Money | Thursday 9 May, 2024 10:57 am

Al-Hussan opens Hong Kong edition of Capital Markets Forum 2024

Khalid Al-Hussan, CEO of Saudi Tadawul Group, opened today, May 9, the international edition of the Capital Markets Forum 2024 in Hong Kong. The event, held in cooperation with Hong Kong Stock Exchange, embodies the strategic cooperation between Saudi Arabia and Hong Kong at the level of...

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Business & Money | Thursday 9 May, 2024 10:09 am

Saudia and The Arab National Bank Launch Exclusive Credit Cards with Enhanced Rewards and Benefits

Saudia, the national flag carrier of Saudi Arabia, has announced a partnership with the Arab National Bank (anb) to introduce the Visa Signature and Infinite credit cards, in collaboration with Visa Inc. These cards, tailored for anb customers who are members of the AlFursan Loyalty Program, offer...

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Environment & Energy | Thursday 9 May, 2024 9:52 am

ENOC Group's sustainable growth strategy drives unprecedented profitability in FY 2023

ENOC Group, the leading integrated global energy player, has reported its highest ever profitability in FY 2023. This exceptional performance underscores the success of the new long-term growth strategy aimed at delivering world-class sustainable and integrated energy solutions further reinforcing...

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Business & Money | Thursday 9 May, 2024 8:33 am

Sumou Real Estate gets regulatory nod on capital increase

Sumou Real Estate Co. received, on May 7, the Capital Market Authority’s (CMA) approval on the request to increase capital from SAR 375 million, to SAR 500 million via a bonus issue at 1-for-3, according to a statement to Tadawul.    ...

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Business & Money | Thursday 9 May, 2024 12:17 am

Saudi Aramco expects SAR 466.1B cash dividends in 2024

Saudi Arabian Oil Co. (Saudi Aramco) expects to pay SAR 466.1 billion, or $124.3 billion, in dividends in 2024, including a base dividend of SAR 304.4 billion and a performance-linked dividend of 161.7 billion. “Our first-quarter performance reflects the...

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Tourism & Hospitality | Thursday 9 May, 2024 12:06 am

Saudia and Red Sea Global Announce a Partnership to Enhance Travel Opportunities

Saudia, the national flag carrier of Saudi Arabia, and Red Sea Global (RSG), announced a strategic partnership to streamline travel experiences for Red Sea Global and its affiliates. The agreement was signed by Arved Von Zur Muehlen, Chief Commercial Officer of Saudia, and Ahmad Darwish, RSG...

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Business & Money | Wednesday 8 May, 2024 10:57 am

Saudi Electricity secures $1B bilateral Murabaha loan from SNB

Saudi Electricity Co. (SEC) secured today, May 7, a $1 billion bilateral Murabaha loan from Saudi National Bank (SNB). The facility has a five-year term with the option to extend for another two years. It will be used to finance general corporate purposes and capital expenditures,...

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Business & Money | Wednesday 8 May, 2024 10:52 am

Red Sea subsidiary inks SAR 113M EPC contract with MBL

Red Sea International Co.’s subsidiary, Fundamental Installation for Electric Work Co. Ltd., signed a contract for engineering, procurement and construction (EPC) for site preparation and infrastructure works at Jeddah Central Development Project with Modern Building Leaders Co. (MBL) at a...

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