Saudi’s Dor, Arbah Capital launch $266mln real estate investment fund
Saudi-based Dor Real Estate Company has signed a memorandum of understanding to establish a real estate investment fund of 1 billion Saudi riyals ($266 million) with Shariah-compliant investment firm Arbah Capital. The fund aims to acquire lands in various cities across the Kingdom and will develop the infrastructure, construct residential units, and sell them, the […]
Saudi Arabia’s sovereign wealth fund and BlackRock have signed an agreement to jointly explore infrastructure projects in the Middle East, focused on Saudi Arabia. The Public Investment Fund (PIF), which manages more than $600 billion in assets, said their non-binding memorandum of understanding will serve as the anchor for BlackRock’s Middle East infrastructure […]
OPEC cuts oil demand growth forecast again as economic challenges mount
OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and also trimmed next year’s figure, citing mounting economic challenges including high inflation and rising interest rates. Oil demand in 2022 will increase by 2.55 million barrels per day (bpd), or 2.6%, the Organization of […]
Kuwait, Saudi Arabia, ink MoU for boosting tourism cooperation
The Kuwaiti Ministry of Information and the Saudi Ministry of Tourism signed on Monday a memorandum of understanding for boosting tourism cooperation. The MoU, inked by the Kuwaiti Minster of Information, Culture Minister of State for Youth Affairs Abdulrahman Al-Mutairi and the Saudi Tourism Minister Ahmad Al-Khatib, stipulated that the two sides would […]
Saudi: MIS awarded $25.79mln project from Riyadh Municipality
Al Moammar Information Systems Company (MIS) was awarded a project worth SAR 96.97 million from Riyadh Region Municipality on 13 November 2022. The agreement covers the maintenance and operation of computers in various departments across the Riyadh Municipality, according to a bourse disclosure. It also includes providing technical consultancy services and strategic planning, as well […]