Business & Money | Sunday 3 May, 2020 3:31 pm

MHPS J-Series Gas Turbine Fleet Achieves One Million Commercial Operating Hours

Mitsubishi Hitachi Power Systems’ (MHPS) J-Series gas turbine installed fleet today reached one million hours of commercial operation, nearly double that of similar sized gas turbines from competitors. This gas turbine series - the company’s largest and most advanced - leads the industry with...

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Business & Money | Sunday 3 May, 2020 4:11 am

Cisco Continues Commitment to Customers and Partners with $2.5B in Financing to Support Business Resiliency

As part of Cisco’s commitment to help customers and partners globally navigate an evolving landscape, the company has introduced a new Business Resiliency Program in the Kingdom.  Offered through Cisco Capital, the vendor financing business within Cisco, and designed to help mitigate...

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Business & Money | Sunday 3 May, 2020 3:04 am

ACWA Power consortium to enhance water security in Saudi Arabia with Jubail 3A IWP

A consortium led by ACWA Power including Gulf Investment Corporation (GIC) and Al Bawani Water & Power Company (Albawani) announced Thursday the signing of a water purchase agreement with the Saudi Water Partnership Company (SWPC) for a greenfield sea water reverse osmosis desalination project...

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Business & Money | Sunday 3 May, 2020 2:23 am

Finance Minister: The Kingdom Has Taken Firm and Quick Measures to Maintain Human Safety

The Minister of Finance and Acting Minister of Economy and Planning, Mohammed bin Abdullah Al-Jadaan, confirmed that the Kingdom of Saudi Arabia has faced this crisis from a position of strength. The Kingdom has taken several steps during the past several years, based on Saudi Vision 2030 and on...

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Business & Money | Sunday 3 May, 2020 1:07 am

LinkedIn Celebrates the Spirit of Ramadan with Campaign from MENA Region

This will be a Ramadan like no other, as 1.8 billion Muslims across the world observe the Holy Month amidst strict restrictions. But with authorities worldwide putting in place social distancing measures to tackle the covid-19 crisis, the spirit of Ramadan becomes more relevant than ever. In an...

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Business & Money | Saturday 2 May, 2020 5:45 pm

Saudi Arabia’s Social Development Bank allocates $2.39bn aid for small businesses

The Social Development Bank (SDB) in Saudi Arabia has recently launched new initiatives to support small businesses in the Kingdom, as well as self-employed entrepreneurs, state news agency SPA reported. The move comes as the country explores ways to support the local economy, which has taken...

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Business & Money | Saturday 2 May, 2020 9:41 am

Moody’s affirms Saudi Arabia’s rating at A1, modifies outlook

Moody’s Investors Service, one of the world's leading rating agencies, affirmed Saudi Arabia’s sovereign credit rating at “A1”, however, it modified Kingdom’s outlook to “negative” from “stable”, Saudi Press Agency reported on Friday.The change in future outlook was the result of...

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Business & Money | Friday 1 May, 2020 2:43 pm

GASTAT Releases Results of Umrah Statistics Bulletin 2019

General Authority for Statistics (GASTAT) released the results of “Umrah Statistics Bulletin 2019” through its official website www.stats.gov.sa. The Report contains a number of Umrah-related indicators and results during 2019, which have been taken from Umrah Survey (for domestic Umrah...

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Business & Money | Friday 1 May, 2020 2:30 pm

Digitalization Joint Statement In Response To Covid-19

As the world tries to find effective solutions to the COVID-19 pandemic, governments and businesses are becoming increasingly reliant on digital technologies to support their communities and citizens. Digital systems have become a lifeline for all businesses as well as health services, and serve as ...

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Business & Money | Friday 1 May, 2020 2:14 pm

Dubai Customs and Bahraini counterparts convene by video conference on covid-19

Dubai Customs and Bahrain Customs convened by video conference to discuss the latest updates about the outbreak of Covid-19 and its negative impacts on economy and the supply chain. The meeting included Ahmed Mahboob Musabih, Director General of Dubai Customs and President of Bahrain Customs,...

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