Business & Money | Tuesday 23 April, 2024 11:14 am

ACWA Power in talks for selective asset sales: CEO

ACWA Power Co. is in negotiations for selective asset sales to long-term investors such as pension funds, CEO, Marco Arcelli, said. In his remarks to Asharq on the sidelines of the World Energy Conference in Rotterdam, the Netherlands, Arcelli said long-term investors are seeking returns from...

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Government | Tuesday 23 April, 2024 9:30 am

Saudi first-time applicants granted five-year Schengen visas

Saudi citizens are granted Schengen visas for five years when applying for the first time, the French ambassador to Saudi Arabia said. According to Al-Arabiya, first-time applicants from GCC countries will now be eligible for Schengen visas valid for an extended period of five...

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Business & Money | Tuesday 23 April, 2024 8:21 am

Thimar sees real estate investments as key focus for future growth: CEO

Thimar Development Holding Co. plans to undertake real estate investments in line with its financial restructuring plan, Managing Director and CEO Melfi bin Manahi Al-Marzouqi told Argaam. The company launched its 100%-owned Thimar Towers Development and Real Estate Investment Co. to tap...

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Business & Money | Monday 22 April, 2024 2:46 pm

"ACWA Power" and "SOCAR" Forge Partnership to Drive Renewable Energy Development in Azerbaijan

Saudi-listed ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, and SOCAR, the State Oil Company of the Azerbaijan Republic, announce the signing of a groundbreaking Cooperation Agreement aimed at accelerating the...

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Business & Money | Monday 22 April, 2024 11:04 am

ROSHN Signs MoU with Cisco to Explore the Use of IoT Technology for Smart Buildings

ROSHN Group, the PIF-owned giga-project and Saudi Arabia’s most trusted real estate developer, has signed a collaboration framework with Cisco that seeks further innovation in areas such as designing and building future-proof, sustainable smart buildings. The MoU with Cisco focuses on the...

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Business & Money | Monday 22 April, 2024 9:35 am

PIF inks deal to acquire stake in stc’s TAWAL for SAR 8.7B

stc Group signed, on April 21, a sale and purchase agreement (SPA) with the Public Investment Fund (PIF) to sell 51% of Telecommunication Towers Company Limited (TAWAL) for cash. In a statement to Tadawul, the telecom operator said that the agreements were signed to...

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Government | Monday 22 April, 2024 9:31 am

GCC Commercial Arbitration Centre Introduces Cutting-Edge Registration Protocols for Arbitrators and Experts

Dr. Kamal Al Hamad, Secretary General of the GCC Commercial Arbitration Centre, emphasized the Centre's dedication to stringent and cutting-edge standards by outlining the procedures for registering arbitrators and experts. This includes a requirement for applicants to register electronically on...

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Business & Money | Monday 22 April, 2024 9:19 am

CAYAN Group continues its partnership with NEOM for the second Hampton by Hilton hotel to be fully funded and developed at NEOM Community

Cayan Group, a leading real estate investment and development company in the Middle East, continues its partnership with NEOM – a giga project spanning 26,500 square kilometres in northwest Saudi Arabia – for a second Hampton by Hilton at NEOM Community. A signing ceremony between Cayan Group...

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Government | Sunday 21 April, 2024 9:54 am

SAMA Governor stresses importance of global economy flexibility amid current challenges

Ayman Al-Sayari, Governor of the Saudi Central Bank (SAMA), stressed the importance of the global economy flexibility amid the current challenges and the balance of risks that threaten economic prospects. At the IMF/WB 2024 Spring Meetings, held in Washington, DC, Al-Sayari pointed to the...

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Business & Money | Sunday 21 April, 2024 9:23 am

Tasnee shareholders approve transferring SAR 905.3M to retained earnings

Shareholders of National Industrialization Co. (Tasnee) approved transferring SAR 905.3 million from its statutory reserve, as per the financial statements for the period ended Dec. 31, 2023, to retained earnings in the general meeting held on April 18. In a statement to Tadawul, the company...

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