Business & Money | Tuesday 14 May, 2024 7:34 am

Emirates Group records full-year profit of AED18.7 billion

The Emirates Group today released its 2023-24 Annual Report, hitting new record profit, revenue, and cash balance levels. Both Emirates and dnata saw significant profit and revenue increases in 2023-24, as the Group expanded its operations around the world to meet strong customer demand for its...

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Business & Money | Tuesday 14 May, 2024 7:18 am

NWC started implementing 9 projects in Madinah at some 500m SR

The National Water Company (NWC), represented by the Northwest Cluster, announced the launch of the implementation of 9 water and sanitation projects in different locations in Madinah Region, at a cost of about 500 million Saudi Riyals (SR), in order to increase the coverage of services, increase...

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Business & Money | Tuesday 14 May, 2024 7:18 am

Sipchem’s affiliate signs agreements to refinance SAR 1.53B outstanding loan

Sahara International Petrochemical Co. (Sipchem) said that its affiliate, Sahara and Ma'aden Petrochemicals Co. (SAMAPCO) signed Islamic facility agreements to refinance its SAR 1.53 billion outstanding syndicated loan with Banque Saudi Fransi and Al Rajhi Bank. These agreements also cover a...

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Business & Money | Tuesday 14 May, 2024 7:10 am

Qualified investors start subscription to 500,000 Horizon Educational shares on Nomu

Qualified investors start today, May 12, subscription to 500,000 shares of Horizon Educational Co., which is scheduled to list on the Nomu-Parallel Market at a price range of SAR 54 per share. Shares offered for subscription represent 20% of the post-IPO capital and 25% of the company’s...

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Business & Money | Tuesday 14 May, 2024 12:37 am

To Accelerate Kingdom-Wide Digital Transformation and Drive Objectives of Saudi Vision 2030:

Riyad Capital has announced the launch of the "1957 Ventures" fund, a closed-end investment fund backed by Riyad Bank to drive transformative growth in Saudi Arabia's FinTech sector, in line with the objectives of Saudi Vision 2030 and the Financial Sector Development Program. The launch of...

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Business & Money | Tuesday 14 May, 2024 12:24 am

Saudi Moving and Logistics Companies Showcase Significant Presence on the Global Stage

 In a new step to strengthen its presence on the international stage, Four Winds Saudi Arabia Limited, Four Winds Saudi Arabia Limited, a Saudi leader in comprehensive and integrated moving and logistics services since 1979, today announced its participation as a Principal Sponsor at the 2024...

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Business & Money | Monday 13 May, 2024 12:58 pm

NHC partners with CMEC to build 20,000 housing units

The National Housing Co. (NHC) signed an agreement with China Machinery Engineering Corp. (CMEC) to construct 20,000 housing units in the suburbs and neighborhoods developed by the former. Majid Al-Hogail, Minister of Municipal, Rural Affairs, and Housing and Chairman of the Housing Program...

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Business & Money | Monday 13 May, 2024 12:10 pm

RAKEZ empowers its clients to participate in Ras Al Khaimah's transformational journey

Ras Al Khaimah Economic Zone (RAKEZ), in collaboration with Al Marjan and Alec, a leading contracting company, hosted a strategic supplier introduction and networking session as part of its monthly community event series. This event showcased RAKEZ's ongoing commitment to nurturing and supporting...

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Business & Money | Monday 13 May, 2024 10:28 am

Mohammed Hadi Al-Rasheed IPO 683% oversubscribed, priced at SAR 28

Mohammed Hadi Al-Rasheed Co. successfully completed its initial public offering (IPO) on the Nomu-Parallel Market. The offering was 682.99% oversubscribed, Yaqeen Capital, the financial advisor and lead manager, said. The necessary paperwork will be completed with Saudi Exchange ...

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Business & Money | Monday 13 May, 2024 8:56 am

First Mills completes buyback of 300,000 shares for employee share scheme worth SAR 25.4M

First Milling Company (First Mills), a market-leading player in the Kingdom's milling industry, completed the buyback of 300,000 shares (representing 0.54% of its shares) to be allocated for the employee share scheme. According to a statement on Tadawul, the deal is valued at SAR 25.36...

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