Arabian Drilling’s Q3 revenue surges by 16% on higher rig activity
Saudi oilfield services firm, Arabian Drilling Company, said its Q3 2023 revenues jumped by more than 16 per cent to SAR920m, driven by the start-up of three additional offshore rigs on five-year contracts. The drilling company’s reported revenues of SAR2.5bn year to date (YTD), more than 27 per cent on higher rig activity and higher […]
Saudi Arabian petrochemical giant SABIC reports Q3 net loss
Saudi Basic Industries Corp (SABIC), one of the world’s biggest petrochemical companies, on Thursday posted an almost 17 per cent fall in third-quarter revenue and a net loss. In a filing, SABIC reported a net loss of 2.88 billion riyals ($768m) for the three months to September 30, compared with a profit of SAR1.84bn a […]
stc Group inks strategic partnership with Red Sea Global
Saudi telecom group stc group signed a strategic partnership with Red Sea Global (RSG) on November 5. The agreement aims to facilitate digital transformation and empower tourist destinations along the Red Sea coast by adopting state-of-the-art communication technologies and digital services, focusing on seamless and sustained connectivity services. According to stc, the group entered this […]
Red Sea Global unveils Shebara , its luxury hotel brand
Red Sea Global (RSG) has announced it will operate its own luxury hotel brand, named Shebara, at The Red Sea destination. The news was revealed at the World Travel Market show in London. Shebara will open in the summer of 2024 and is the first resort to be owned and operated by RSG at The […]
IHG opens Makkah’s largest hotel
IHG Hotels and Resorts has opened its voco Makkah property which it says is the largest hotel within Makkah. The 4321-key hotel has rooms that can accommodate between two to four guests. To manage the high number of guests that may be checking into the hotel simultaneously during peak periods, the hotel has included multiple […]
Saudi Arabia’s KAUST collaborates with 2 Chinese companies
Saudi Arabia’s King Abdullah University of Science and Technology (KAUST) has signed an agreement with two Chinese companies for a project to manufacture environmentally friendly green plastic. This project will utilize KAUST-developed technology based on high-mass aliphatic polycarbonate compounds. The experimental phase for this plastic is expected to take two years before commencing commercial production, […]
Omani Delegation visits Saudi Economic Cities & Special Zones Authority
The Saudi Economic Cities and Special Zones Authority has welcomed a delegation from the Public Authority for Special Economic Zones and Free Zones in the Sultanate of Oman. The purpose of the visit was to strengthen cooperation, exchange knowledge, and share expertise between the two parties. The Omani delegation, led by Dr. Ali bin Masoud […]
Saudi’s stc Group bags Forbes Middle East Sustainability Leaders Award
stc Group, the Saudi enabler of digital transformation, won the Forbes Middle East Sustainability Leaders Award. This achievement recognizes its efforts to reduce carbon emissions and promote sustainable practices in four areas related to climate, society, digitalization, and the future of work. The award represents a testimony to stc Group’s commitment to sustainable business practices, […]