TARSHID launches energy efficiency project in Kingdom Tower in Riyadh
The National Energy Services Company, TARSHID, and the Trade Center Company, owned by Kingdom Holding, have signed a contract to start the detailed study required for retrofitting the Kingdom Tower in Riyadh and its associated facilities. This aims to increase energy efficiency and reduce energy consumption in the tower, which is one of Riyadh’s […]
SAPTCO signs 5-year public transport contract with Jazan Municipality
Saudi Public Transport Company (SAPTCO) has signed a five-year contract with Jazan Municipality to operate a public transport bus network in Jazan governorate (Jazan, Sabya and Abu Arish). The contract is valued at 93 million Saudi riyals ($24.79 million), the company said in a statement to the Saudi stock exchange on Tuesday. In April, the […]
Saudi Real Estate Refinance Company completes its latest sukuk issuance of $933mln
The Saudi Real Estate Refinance Company (SRC), wholly owned by the Public Investment Fund (PIF), has successfully completed its latest Sukuk issuance of SAR3.5 billion. This marks the sixth tranche under the upsized Saudi-Riyal-denominated 20 billion Sukuk program, guaranteed by the Kingdom of Saudi Arabia through the Ministry of Finance. The latest tranche demonstrates strong […]
Barnawi and Al Qarni make history as their SpaceX capsule docks with space station
About 16 hours after its launch, the Dragon spacecraft carrying the Saudi astronauts Rayyanah Barnawi and Ali Al Qarni successfully docked with the International Space Station (ISS) for an eight-day mission. The duo made history as the first Saudi citizens to visit the orbiting outpost, while Barnawi has become the first Saudi and Arab woman […]
ISS welcomes its first Saudi astronauts, in private mission
A SpaceX capsule carrying two Saudi astronauts docked with the International Space Station on Monday, as part of a private mission chartered by Axiom Space. Rayyanah Barnawi, a scientist who became the first Saudi woman to go into space, and Ali Al-Qarni, a trained fighter pilot, are the first two people from their country to […]
Saudi’s RCU set to award contract for AlUla Tramway project in coming days
The Royal Commission of AlUla (RCU), the master developer of the historic city of Alula in north-west Saudi Arabia, is expected to award the design, build, and operate contract for the AlUla tramway project within a matter of days, according to a high-ranking official. Amr Salah, Vice President for Infrastructure at RCU, made the announcement […]
Saudi’s SAMA issues instructions for practicing aggregation activity
The Saudi Central Bank (SAMA) announces the issuance of the “Instructions for Practicing Aggregation Activity” as an annex of the “Rules of Licensing Finance Support Activities.” This initiative reflects SAMA’s vital regulatory role and ongoing efforts to advance the finance sector and enable the fintech sector. The instructions aim at setting the minimum standards […]
Saudi Arabia earmarks $5bln investment fund for Bahrain
Minister of Investment Eng. Khalid Al-Falih announced that Saudi Arabia would allocate a specialized investment fund, amounting to about $5 billion, for Bahrain. Addressing the third Saudi-Bahraini Coordination Council meeting in the Bahraini capital of Manama on Sunday, Al-Falih said that discussions were also held on accelerating the Saudi – Bahrain parallel bridge work. […]
Saudi Ma’aden acquires stake in Ivanhoe Electric for $126.5mln
Saudi Arabian Mining Co. (Ma’aden) has finalised an agreement with Ivanhoe Electric Inc. (IE) to purchase 9.9% shares in the company for $126.5 million and form a 50/50 joint venture to undertake one of the largest exploration programmes ever conducted. The deal will provide Ma’aden, through the joint venture, with the means to accelerate the […]
Riyad Capital’s new $133mln fund to launch mixed-use project in Riyadh
Riyad Capital, the investment arm of Riyad Bank, announced on Monday the launch of 500 million Saudi riyal ($133.33 million) Riyadh Real Estate Development Fund – Durrat Hittin in partnership with Al Ramz Real Estate Company. The fund will develop a mixed-use project in Hittin district in Riyadh on a total area of 27,119 square […]