IHG Hotels & Resorts to open Middle East’s 1st Regent Hotel in Saudi Arabia
IHG Hotels & Resorts, one of the world’s leading hospitality companies, has signed a management agreement with Almuhaysin Group in order to open Middle East’s first Regent Hotel in Saudi Arabia. Regent Jeddah will provide uninterrupted views of the Corniche and Jeddah’s Formula 1 racetrack, setting a new standard for modern ultra-luxury in Saudi Arabia. […]
Noon launches P2P payments service, noon Pay for users in UAE & Saudi
noon.com, the Middle East’s leading digital platform, has launched noon Pay, a peer-to-peer (P2P) payments service designed to transform the way people transfer money to others. With its innovative approach to mobile payments, noon Pay brings unprecedented convenience, security, and flexibility to users in the Kingdom of Saudi Arabia and the UAE. noon Pay is […]
Saudi Central Bank & Hong Kong Monetary Authority explore bilateral ties
The Saudi Central Bank (SAMA) has explored bilateral relations with its international counterpart, Hong Kong Monetary Authority (HKMA). The two sides discussed a number of initiatives to strengthen collaboration in several common areas, including financial infrastructure development, open market operations, monetary policy, and Fintech. Both parties shared their experiences in research, development and innovation, highlighting […]
JOSLOC inks distribution deal with Leha for Agriculture and Transportation
Aljomaih and Shell Lubricating Oil Company (JOSLOC) has entered into a partnership with Leha for Agriculture and Transportation Company in order to provide oils for Leha’s agricultural equipment and their transportation services. Leha Transport and Agriculture Company is one of the largest Saudi companies in the agricultural and transportation sector. It began its journey of […]
Ireland-based Kerten Hospitality to operate the House Residence in OXAGON
Ireland-based leading hospitality investment firm Kerten Hospitality has entered into a partnership in order to operate the House Residence in NEOM’S OXAGON. According to the statement, Kerten Hospitality will enter its House Residence brand in OXAGON, home to advanced and clean industries in NEOM. This move will further Kerten Hospitality’s ambitious expansion across the Kingdom […]
FedEx Express improves International Priority Service in UAE & Saudi Arabia
FedEx Express, a subsidiary of FedEx Corp. and the world’s largest express transportation company, has enhanced its International Priority (IP) service in an effort to improve the efficiency of goods circulation and enable customers to seize global opportunities. The improvement to the IP service is FedEx’s latest effort to continuously optimize its portfolio of cross-border […]
PIF establishes Al Madinah Heritage Company to increase Ajwa dates production
The Saudi Public Investment Fund (PIF) has established Al Madinah Heritage Company (MHC), to improve the quality and production capacity of Ajwa dates in the Madinah region. The launch of the new company will help further develop the Saudi Food and Agriculture industry and drive the diversification of Saudi Arabia’s economy, in line with Vision […]
Rawabi closes Saudi’s largest private sector syndicated financing of $2bn
Rawabi Energy and its subsidiaries have concluded the financial close of $2 billion Syndicated multi-currency senior secured term and revolving SAR and USD facilities, marking one of the largest private sector syndicated financing in the Kingdom of Saudi Arabia. Led by strong market demand, the landmark Transaction was oversubscribed by 1.33x, reinforcing confidence in the Kingdom’s […]
THE LINE: A future awe-inspiring ‘Linear Smartcity’ in Saudi Arabia’s NEOM
A city with no cars, streets, or carbon emissions. Can you imagine it? Then, Saudi Arabia’s upcoming city, THE LINE, is making it possible. THE LINE is a linear smart city stretching across 170 kilometers, from the epic mountains of NEOM across inspirational desert valleys to the beautiful Red Sea. It is one of the […]
Saudi Aramco completes purchase of Rongsheng Petrochemical stake
Saudi Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully closed a landmark transaction to acquire a 10 percent interest in Rongsheng Petrochemical for $3.4 billion, through its subsidiary Aramco Overseas Company BV, based in the Netherlands. The acquisition follows the signing of definitive strategic agreements by both parties announced earlier […]