Business & Money | Saturday 25 May, 2024 8:04 am

Aramco plans share of nearly $10B shares: Report

Saudi Arabia is planning a $10 billion share sale in Aramco, Reuters reported. The share sale is expected to take place as soon as June in what would be one of the region's biggest stock deals. The preparations are ongoing and the details could still change, two sources...

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Business & Money | Saturday 25 May, 2024 1:00 am

Almuneef renews, expands SAR 35M credit facilities deal with Bank Albilad

Almuneef Co. for Trade, Industry, Agriculture, and Contracting announced the renewal and increase of its financial facilities contract with Bank Albilad. In a statement to Tadawul, the company said the facilities’ renewal for the previous year totaled SAR 13 million, with approval for an...

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Business & Money | Saturday 25 May, 2024 12:03 am

Korea Eximbank provides $1B financing to Saudi Amiral project

The Export-Import Bank of Korea (Eximbank) announced on Thursday that it will provide the Amiral petrochemical complex project in Saudi Arabia with $1 billion in financing, Yonhap News Agency reported, citing a statement. The project was awarded to Hyundai Engineering & Co. This project...

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Business & Money | Friday 24 May, 2024 4:20 am

NCP awards over 60 contracts worth more than SAR 37.5B: Al-Jadaan

The National Center for Privatization & PPP (NCP) has contributed to the awarding of more than 60 privatization and partnership contracts across eight target sectors since its launch, with a capital expenditure exceeding SAR 37.5 billion, Minister of Finance, Mohammed Al-Jadaan,...

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Business & Money | Friday 24 May, 2024 12:28 am

UAE China Tyre & Auto Parts Expo kicks off May 27 with over 300 exhibitors

Capitalising on the zooming auto automotive aftermarket and service industry in the country and the region, the UAE China Tyre & Auto Parts Expo is set to see an impressive rise in the number of exhibitors taking part in its upcoming edition.Aiming to provide the regional market direct access...

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Business & Money | Thursday 23 May, 2024 2:24 pm

ADNOC completes $935 million institutional placement of ADNOC Drilling shares

Abu Dhabi National Oil Company (ADNOC) announced today that it has successfully completed a placement to institutional investors of 880 million shares in ADNOC Drilling Company. This represents 5.5% of ADNOC Drilling’s total issued and outstanding share capital, and will increase the Company’s...

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Business & Money | Thursday 23 May, 2024 2:13 pm

Saudi Arabia plans SAR 15B projects to reuse treated water

Saudi Arabia plans to establish 96 projects to enhance the infrastructure for the reuse of treated water in the agricultural, urban, and industrial sectors. The estimated cost for these projects exceeds $4 billion, or nearly SAR 15 billion, Muhammad bin Zaid Abuhaid, Acting CEO of Saudi...

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Business & Money | Thursday 23 May, 2024 2:00 pm

NHC signs 77 agreements at Real Estate Supply Chain Forum

The National Housing Co. (NHC) signed today, May 22, as many as 77 agreements at the conclusion of the exhibition accompanying the 2024 Real Estate Supply Chain Forum, the Saudi Press Agency (SPA) reported. This included five memorandums of understanding (MoUs) to establish industrial zones,...

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Business & Money | Thursday 23 May, 2024 1:49 pm

BIM Ventures, MISA in partnership with SBI Holdings to launch $100M startup investment fund in Saudi Arabia

BIM Ventures, the Saudi Venture Studio, announced today at the Saudi Japan Vision 2030 Business Forum in Tokyo, Japan, the signing of a memorandum of understanding (MoU) with SBI Holdings. This collaboration, facilitated in partnership with the Ministry of Investment of Saudi Arabia (MISA), aims to ...

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Business & Money | Thursday 23 May, 2024 1:48 pm

Cenomi Centers plans to invest SAR 5B: CEO

Alison Erguven, CEO of Arabian Centers Co. (Cenomi Centers), stated that the company plans to invest SAR 5 billion, half of which will be allocated to the Jawharat Riyadh and Jawharat Jeddah projects. She expects Jawharat Riyadh to open in the second half of 2025.  In...

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