Saudi Cable’s accumulated losses shrink to $16mln
The accumulated losses of Saudi Cable Company plunged by 69.40% to SAR 59.81 million as of 31 July 2022, accounting for 89.60% of the recently reduced capital. The lower accumulated losses followed a 74.60% capital cut to SAR 66.72 million from SAR 262.31 million, according to a bourse filing. In July 2022, the shareholders […]
Praesidiad to set up manufacturing facilities, offices in Dammam
Praesidiad, a world market leader of force protection solutions,integrated perimeter security systems and industrial mesh production and fencing products, has announced plans to set up its manufacturing facilities and offices in Saudi city of Dammam. With this move, Praesidiad continues to expand its global footprint starting with a major investment in Saudi Arabia, and […]
Saudi’s Qiddiya City committed to cut down energy consumption by 60%, says CEO
The Business Development Manager at Qiddiya Investment Co. (QIC), Greg Whiteside, has confirmed the Qiddiya project’s commitment to conserving energy and reducing carbon emissions. Whiteside made the remarks during the second Saudi International Iron and Steel Conference in Riyadh. He stated that the project would conserve energy through sustainable buildings and projects that reduce power […]
Coinweb set to establish presence in UAE, Saudi in H1 2023, says CEO Gilbert
Coinweb is firmly on the roadmap to establish its presence in UAE and Saudi Arabia in H1 2023, Toby Gilbert, CEO and Co-Founder told Khaleej Times in an exclusive interview. “In line with the UAE’s drive to become a world-class financial hub, its policy on crypto has demonstrated how forward-thinking the government has become. […]
Two more companies granted license to provide payment services in Saudi Arabia
The Saudi Central Bank (SAMA) granted two new licenses to payment financial technology companies. The two payment financial technology companies licensed to provide payment services for e-commerce are Arab Sea Financial Company and Fatoraah. This brings the total number of payment companies licensed by SAMA to 21, in addition to 5 companies that were granted […]