Saudi Arabia allocates $7.8bln worth of investments for Expo 2030 – state media
Saudi Arabia has allocated $7.8 billion worth of investments for Expo 2030, state news agency SPA reported early on Wednesday. “I highlighted the Kingdom’s investment of $7.8 billion in the Expo and the opportunities and enriched experience available to international companies,” Saudi investment minister Khalid al-Falih said, as Riyadh made its bid for hosting […]
Dallah Healthcare unveils $13mln cash dividends for Q1-23
Dallah Healthcare Company announced cash dividends valued at SAR 48.84 million, representing 5% of its capital, for the first quarter (Q1) of 2023. The Saudi firm will disburse SAR 0.50 per share for 97.68 million eligible shares, according to a bourse disclosure. Eligibility and payment dates for the dividends will be 6 and 20 July […]
Saudi Arabia grants industrial licence to local EV brand Ceer
Saudi Arabia’s Ministry of Industry and Mineral Resources has granted an industrial license to Ceer, the first local electric vehicle (EV) brand. The EV manufacturing facility will cover an area of one million square metres in King Abdullah Economic City’s Industrial Valley, the ministry said in a tweet. Ceer will attract over $562 million of […]
Al Hammadi Holding to disburse $15mln dividends for Q2-23
The board members of Al Hammadi Holding decided to pay out SAR 56 million as cash dividends for the second quarter (Q2) of 2023. The Saudi firm will disburse SAR 0.35 per share for 160 million eligible shares, according to a bourse disclosure. Eligibility and distribution dates for the dividends will be 2 and […]
Saudi solutions eyes 40% ownership in MENA-focused Devoteam
Arabian Internet and Telecommunication Services Company (solutions) penned a binding offer with France-based Devoteam SAS and ORTLL Investment Limited to acquire a 40% stake in Devoteam Middle East (DME). In a bourse filing, the Tadawul-listed firm highlighted that the enterprise value stands at AED 726.30 million, equivalent to nearly SAR 741.70 million, on a cash-free […]
Saudi SCOPA and Airbus agree to produce helicopters in the kingdom – SCOPA CEO
Saudi defence company SCOPA Industries and Airbus have signed an agreement to jointly produce civil and military helicopters in the kingdom, SCOPA CEO Fawaz Alakeel told Saudi state TV on Monday. The deal was announced on the sidelines of a Saudi-French investment forum being held during a visit by Saudi Arabia’s Crown Prince Mohammed […]
Al Babtain Power’s board proposes 50% capital increase
Al Babtain Power and Telecommunication Company announced the board’s recommendation to raise the capital by 50% to SAR 639.46 million from SAR 426.31 million. The raise transaction will be carried out through the capitalization of SAR 213.15 million from the retained earnings account and granting one bonus share for every two owned shares. In a […]
Saudi’s Knowledge Economic City signs development pact with China Gezhouba Group
Saudi Arabia’s Knowledge Economic City (KEC) has signed a framework agreement with China Gezhouba Group International Engineering Company (CGGC) to support the development of the Saudi company’s projects. Under the six-month agreement, CGGC will cooperate in the engineering, procurement, and construction (EPC) phase for KEC projects, such as Hub Residence, Al-Alya mixed-use project, and South […]
Saudi Almarai’s unit Beyti targets $323mln sales in 2023
Beyti, a subsidiary of the Saudi Almarai Company, aims to generate sales of up to EGP 10 billion by the end of 2023. Tamer Naguib, Chief Commercial Officer (CCO) at Beyti, made the remarks in a press statement on 18 June, according to the Middle East News Agency (MENA). Naguib stated that the company […]
Haramain high-speed railway offers exceptional services to pilgrims
The Haramain High-Speed Railway (HHR) is one of the top 10 fastest electric-rail trains worldwide, running at 300 Km/h and playing a key role in the development and expansion of Saudi Arabia’s railway network. The HHR links the two holy cities of Makkah and Madinah, to meet the growing demand of domestic and foreign […]