Government | Saturday 1 June, 2024 3:51 pm

UAE Participates in GCC Financial and Economic Cooperation Committee Meeting

His Excellency Mohamed Hadi Al Hussaini, UAE Minister of State for Financial Affairs, headed the UAE’s delegation at the 121st GCC Financial and Economic Cooperation Committee meeting that took place in Doha on May 30. During the meeting, members approved the UAE’s proposal for measurable...

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Business & Money | Saturday 1 June, 2024 3:42 pm

Makkah Municipality to offer 100 Investment opportunities this year

The Holy Makkah Municipality expected the number of projects and investment opportunities to be offered in Makkah this year to exceed 100. Al-Eqtisadiah newspaper reported that 19 investment projects were offered in the first quarter of 2024. These projects included the development of the...

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Business & Money | Saturday 1 June, 2024 3:41 pm

Aramco completes acquisition of 40% stake in Gas & Oil Pakistan

Saudi Arabian Oil Co. (Saudi Aramco) completed the acquisition of a 40% stake in Gas & Oil Pakistan Ltd. (GO). In a statement, Saudi Aramco said the acquisition represents its downstream retail investment in Pakistan and signals the company’s growing retail presence in high-value...

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Business & Money | Saturday 1 June, 2024 3:36 pm

Saudi Building Code’s executive regulations amended

The Minister of Commerce and Chairman of the Saudi Standards, Metrology and Quality Organization (SASO), Majid Al-Kassabi, approved amendments to the executive regulations of the Saudi Building Code (SBC), which will come into effect from the date of its publication in the official...

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Business & Money | Saturday 1 June, 2024 3:31 pm

Al Saedan Real Estate acquires residential-commercial masterplan in Riyadh for SAR 2B

Al Saedan Real Estate Company announced the acquisition of a residential-commercial masterplan in the northeast of Riyadh, for nearly SAR 2 billion. The acquisition was completed through the establishment of a real estate investment fund in partnership with ANB Capital.   In a...

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Business & Money | Saturday 1 June, 2024 3:29 pm

Additional cases of VAT refund by real estate developers

The official Umm Al -Qura newspaper published today, May 31, additional cases to redeem value-added tax (VAT) by real estate developers.  The developers qualified for VAT redemption who deduct VAT from their purchases of goods or services related to real estate supplies can redeem the tax ...

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Business & Money | Saturday 1 June, 2024 2:51 pm

ACWA Power and Tunisian government sign MoU for major green hydrogen project

Saudi-listed ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, has signed a memorandum of understanding (MoU) with the Tunisian Government represented by the Ministry of Industry, Mines and Energy to explore the...

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Business & Money | Friday 31 May, 2024 2:29 am

Neo Space Group (NSG) partners with SES to deliver groundbreaking aviation industry-first inflight connectivity service to the global airline market

 Neo Space Group (NSG), a Public Investment Fund (PIF) global space services company, has joined forces with a global satellite communications operator SES, to bring the SES Open Orbits™ Inflight Connectivity network to the international airlines market. SES Open Orbits™ is an...

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Business & Money | Friday 31 May, 2024 12:32 am

Soudah Development & Warner Bros. Discovery International Sign Partnership to Showcase the Rich Heritage, Culture, and Natural Beauty of Soudah Peaks

Soudah Development and Warner Bros. Discovery International signed a one-year partnership agreement to promote and celebrate the distinctive nature, culture, and heritage of Soudah and parts of Rijal Almaa, a region situated in southwest Saudi Arabia. This collaboration will focus on raising...

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Business & Money | Friday 31 May, 2024 12:29 am

ROSHN Unveils WAREFA’s Show Villas

ROSHN Group, Saudi Arabia’s leading real estate developer and PIF-owned giga project, has inaugurated a range of show villas, townhouses, and duplexes at WAREFA, its first community development in East Riyadh. Following the project's groundbreaking ceremony, held under the patronage of His Royal...

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