Saudi IT firm Al Moammar wins NEOM contract worth $15mln
Saudi Arabia’s Al Moammar Information Systems Co. has won a contract from NEOM for a total of 58.18 million riyals ($15 million). In a regulatory filing on Tadawul on Tuesday, the company said it will provide services related to research collaborations that will be aligned with NOEM’s stated aims in the field of emergent technology, cognitive […]
Saudi Sipchem’s Q3 profit plunges as product prices fall, feedstock costs rise
Saudi-listed Sahara International Petroleum Co (Sipchem) has announced falling year-on-year and quarter-on-quarter profits after sales prices of its products fell while feedstock prices increased. The company announced a third quarter net profit of SAR 774.4 million ( $206.5 million) compared with SAR 1.029 billion, a decrease of 25.74%. It said the decrease was due to […]
Aster Pharmacy enters Saudi Arabia; to set up 250 plus pharmacies
Aster DM Healthcare, one of the largest integrated healthcare providers, is expanding its footprint in Saudi Arabia, aiming to set up 250 pharmacies over a period of five years. Through a joint venture agreement with Al Hokair Holding Group, both partners will work towards bringing Aster Pharmacy’s in-house quality care products to serve […]
e& subsidiary, ADQ complete Starzplay Arabia acquisition
e& subsidiary E-Vision and holding company ADQ have completed their acquisition of 57% of Starzplay Arabia, with E-Vision committing to pay up to $130 million for the video on demand service. A statement to Abu Dhabi Securities Exchange (ADX) from e& said the acquisition is in line with its strategy to scale up the entertainment […]
Saudi, Russian agriculture ministers discuss food security
Minister of Environment, Water, and Agriculture (MEWA) Abdulrahman Al-Fadhli received in his office here on Monday the Russian Minister of Agriculture Dr. Dmitry Patrushev. The two ministers reviewed areas of cooperation of common interest, especially in the agricultural field and food security. The meeting was attended by the Saudi Grains Organization, Governor Eng. Ahmed […]
Saudi Aramco to establish two offshore fabrication yards in alliance with global partners
Saudi Aramco, in collaboration with international partners, is establishing two offshore fabrication yards that aim to deliver a more than 200 percent increase in Saudi Arabia’s offshore fabrication capacity. The new yards are being constructed in Ras Al Khair in collaboration with National Petroleum Construction Company (NPCC) and McDermott International. They are expected to […]