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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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 1:39 am

NWC starts implementation of 46 water and sanitation projects in Riyadh at SR +1.6 billion

The National Water Company (NWC), represented by the Central Cluster, announced that it has started the implementation of 46 water and sanitation projects in the Riyadh region, with lines and networks of more than 2,900 km, at a total cost of more than one billion and 600 million Saudi Riyals (SR). ...

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Business & Money | Thursday 9 May, 2024 12:52 am

Saudia Holidays and AlUla Announce Strategic Partnership to Elevate AlUla as a Premier Year-Round Destination

Saudia Holidays in collaboration with AlUla, the ancient oasis city in the northwest of Saudi Arabia, has announced a strategic partnership through a Memorandum of Understanding (MoU) signed at the Arabian Travel Market 2024. This collaboration is set to enhance the travel experience to AlUla,...

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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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Business & Money | Thursday 9 May, 2024 12:02 am

Aqaseem plans Sukuk issuance worth SAR 500M

Aqaseem Factory for Chemicals and Plastics Co.’s board announced, on April 28, its intention to set up a SAR Sukuk program. The company will issue local SAR-denominated, Shariah-compliant Sukuks at a value of SAR 500 million. The funding will be used to serve for the ...

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Business & Money | Wednesday 8 May, 2024 3:13 pm

The Middle East Low Code No Code Summit 2024 Successfully Concludes, To Return As CODE

 The successful conclusion of two-day summit, The Middle East Low Code No Code Summit 2024 on May 2nd marked a pivotal moment, with over 300 technology leaders, Low-code No-code experts, and government entities converging to explore the forefront of innovation. This gathering provided an...

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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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Business & Money | Wednesday 8 May, 2024 10:46 am

Al Rajhi Bank plans additional tier-1 sustainable sukuk

Al Rajhi Bank announced its intention to issue USD-denominated additional tier-1 capital sukuk under its international additional tier-1 capital sukuk program, established by the bank on April 18, following the decision of the board of directors on March 25. In a statement to Tadawul, the bank ...

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