South Korean auto giant Hyundai signs MoU to build assembly plant in Saudi Arabia
Saudi Arabia’s Ministry of Industry and Mineral Resources signed a memorandum of understanding (MoU) with South Korea’s Hyundai Motor Company to build an assembly plant based on CKD [Completely Knocked Down] system for electric and internal combustion engine cars in the Kingdom, state-owned SPA news agency reported. The MoU aims to strengthen joint cooperation in […]
Saudi Tadawul Group unveils 2 new key appointments
Saudi Tadawul Group Holding Company has named Sarah Al Suhaimi as the new Chairperson of the board for the coming three years. The firm also appointed Yazeed Al Humied as the Vice Chairperson, according to a bourse disclosure. Meanwhile, the two officials assumed their roles for the current board term that began on 2 January […]
Saudi Cable’s board mulls over 419.5% capital hike; reduction proposal cancelled
The board of Saudi Cable Company recommended to increase the company’s capital to SAR 346.72 million from SAR 66.72 million by offering priority rights shares. The number of shares will reach 34.67 million shares, compared to 6.67 million shares prior to the raise. Through the 419.61% capital hike, the Saudi firm aims to reduce the […]
NCM upgrades rain alert to warning in Makkah, Madinah and Al-Baha regions
The National Center of Meteorology (NCM) on Tuesday raised the rain status alert and thunderstorms to “warning” in the regions of Makkah, Madinah and Al-Baha. The alert is considered a warning from thunderstorms accompanied by heavy rains and activity in surface winds, high waves, in addition to hail and torrential flow, as it would also […]