Business & Money | Saturday 15 June, 2024 5:42 am

PIF mulls to invest $15B in Brazil: Report

The Public Investment Fund (PIF) plans to invest $15 billion in Brazil, in areas such as green hydrogen, infrastructure and renewable energy, Reuters reported, citing Alexandre Silveira, Brazil's Minister of Mines and Energy.   The plans were shared by PIF during meetings with...

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Environment & Energy | Saturday 15 June, 2024 5:40 am

Saudi Arabia one of major clean energy investors: Minister

Saudi Arabia is one of the major investors in clean energy as it has giant projects aimed at reducing the climate change effects, Saudi Press Agency reported, citing Adel Al-Jubeir, Minister of State for Foreign Affairs and Climate Envoy.   The Kingdom has a waste recycling program...

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Business & Money | Saturday 15 June, 2024 5:38 am

King Salman Airport terminal to kick off in 2026: Exec

King Salman International Airport (KSIA) will open its terminal by 2026, Acting CEO Marco Mejia told Asharq News.   A runway will be launched in 2027, a new terminal in 2028, and the most prominent building in 2030, Mejia said, adding that the construction work will continue until...

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Business & Money | Saturday 15 June, 2024 5:36 am

Domestic demand seen to remain key driver of Saudi economy: IMF

The International Monetary Fund (IMF) experts said domestic demand is expected to remain the key driver of Saudi economy, expecting the non-oil growth to reach about 3.5% in 2024, amid a fall in investment growth before rising in 2025 and beyond.   This was attributed to the Public...

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Business & Money | Friday 14 June, 2024 3:15 am

NEOM and Fahy Studios Announce First-Ever Publishing Deal Between a Saudi Gaming Studio and an International Publisher

 Today, NEOM Media Industries announced a groundbreaking publishing deal between Saudi's Fahy Studios and the renowned international video game developer and publisher, Kwalee, facilitated by the Level Up Accelerator, a key initiative of NEOM. This historic agreement marks a significant...

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Business & Money | Friday 14 June, 2024 2:45 am

Edmond de Rothschild to open office in Saudi Arabia this year

Edmond de Rothschild Group, a specialist in asset management and private banking, is set to open an office in Saudi Arabia this year and launch a platform to provide debt finance for infrastructure projects there, Reuters reported, citing the Swiss bank as saying on Thursday. The platform...

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Business & Money | Thursday 13 June, 2024 10:27 am

PIF keen to invest in Brazil: Governor

The Public Investment Fund (PIF) is interested in investing in Brazil, particularly in the technology, renewable energy, and mining sectors, as well as football, Governor Yasir Al-Rumayyan said.  During his speech at the Future Investment Initiative Priority Summit in Rio de Janeiro,...

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Business & Money | Thursday 13 June, 2024 10:19 am

US Fed keeps interest rates unchanged, sees one rate cut in 2024

The US Federal Reserve decided, during its policy meeting held on June 11-12, to hold interest rates steady at a range between 5.25-5.50% for the fourth time since the beginning of this year, keeping them at their highest level in 23 years.   The Federal Open Market Committee...

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Business & Money | Thursday 13 June, 2024 9:42 am

AYYAN issues prospectus for SAR 200M rights offering

AYYAN Investment Co. published today, June 11, the prospectus for its capital increase through a SAR 200 million rights offering. The rights issue is aimed at enabling the company to implement its operational plans and supporting its working capital. The company will use the rights...

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Business & Money | Thursday 13 June, 2024 9:35 am

e& enterprise launches a customer service & call center in the KSA

e& enterprise today announced the launch of a new Contact and Customer Experience Centre in Riyadh. Aligned with Saudi Arabia’s Vision 2030, the new facility is designed to take customer experiences to new heights while significantly contributing to the local economy by creating over 1,500...

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