Business & Money | Friday 19 April, 2024 7:30 am

Sure inks SAR 94.2M contract to build, develop, operate e-platform

Sure Global Tech Co. signed, on April 17, a project contract with a legal entity to build, develop and operate an electronic platform at a total value of SAR 94.17 million, including value-added tax (VAT). The contract has a term of three years, the company said in a statement to Tadawul,...

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Business & Money | Thursday 18 April, 2024 10:17 am

Allianz SF says Allianz SE sold entire stake to ADNIC

Allianz Saudi Fransi Cooperative Insurance Co. (Allianz SF) received a notice from Allianz SE on selling its entire shares in the Saudi-listed insurer to Abu Dhabi National Insurance Co. (ADNIC), according to a statement to Tadawul. Allianz SE offloaded 30.6 million shares at a weighted price...

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Business & Money | Thursday 18 April, 2024 9:04 am

Zoujaj's 6th glass containers line to be completed in Dec. at SAR 47M

National Co. for Glass Industries (Zoujaj) said today, April 16, that the sixth glass container production line will cost SAR 46.6 million and is expected to be completed in December 2024. The expected financial impact of the project will appear starting in the first quarter of 2025. It...

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Business & Money | Thursday 18 April, 2024 9:02 am

Thimar sets up new firm for real estate investments

Thimar Development Holding Co. established a new 100%-owned, one-person limited liability company named Thimar Towers Development and Real Estate Investment Co.In a statement to Tadawul, Thimar said the new company is headquartered in Riyadh, Saudi Arabia. The company was set up to support...

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Technology & IT | Wednesday 17 April, 2024 1:25 pm

HONOR Magic6 Pro Review: A Flagship Powerhouse with AI Magic in the Details

HONOR continues to surprise us all! The giant smartphone manufacturer has come out with its next iteration of its flagship Magic series, the all-new HONOR Magic6 Pro. The all-new smartphone takes on the competition and I've been fortunate to get my hands on the HONOR Magic6 Pro recently, allowing...

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Technology & IT | Wednesday 17 April, 2024 12:28 pm

ESL FACEIT Group and Qiddiya City Partner to Drive Esports Evolution with Five-Year Partnership

 ESL FACEIT Group (EFG), the world’s leading esports and video game entertainment company, and Qiddiya City, a global destination for entertainment, sports, and culture, today announced a five-year global partnership to empower Qiddiya’s goal of establishing the world’s premier gaming...

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Business & Money | Wednesday 17 April, 2024 10:29 am

Saudi Cable names Fawaz Al Muqbil as CEO, Khalid Khashoggi as MD

Saudi Cable Co.’s board of directors decided yesterday, April 16, to appoint Fawaz Bin Mubarak Al-Muqbil as CEO effective today, April 17. Al-Muqbil replaced Nael Samir Fayez, who was appointed as an advisor to the company’s board of directors, according to a statement to...

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Business & Money | Wednesday 17 April, 2024 9:52 am

National Building renews SAR 85M credit facility with Alinma Bank

National Building and Marketing Co. signed a renewal for the Shariah-compliant credit facilities agreement worth SAR 85 million with Alinma Bank, according to a statement to Tadawul. The revolving loan agreement is valid for a period of nine months, the company pointed out, adding that the...

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Sports | Wednesday 17 April, 2024 9:25 am

Esports World Cup to Feature Record-Breaking Prize Pool of More Than $60 Million

Esports World Cup Foundation (“EWCF”) has announced an unprecedented total prize pool of more than $60 million for the inaugural Esports World Cup (“EWC”) this summer in Riyadh, Saudi Arabia. This life-changing sum is the largest prize pool ever awarded at an esports tournament, shattering...

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Business & Money | Tuesday 16 April, 2024 11:47 am

ACWA Power receives the first Renminbi (RMB) loan from Bank of China to finance an Uzbekistan solar project

Saudi-listed ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, received an equity bridge loan from Bank of China worth $80 million to finance its Tashkent 200MW Solar PV and 500MWh BESS in Uzbekistan. The equity...

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