Saudi Home Loans unveils $217mln facilities from ANB, Riyad Bank
Saudi Home Loans Company (SHL) obtained loans worth SAR 815 million from Arab National Bank (ANB) and Riyad Bank on 4 January 2023, according to bourse disclosures. In the line with its strategic future plans, the firm will use the proceeds of the investments to enlarge its sales volume through newly originated loans to its […]
Saudi’s Jahez completes acquisition of Marn Business
Jahez International Company for Information System Technology has fully acquired Marn Business Information Technology Company’s shares at a value of SAR 60 million. Jahez concluded the transaction on 4 January 2023 after fulfilling all the required procedures and obtaining the regulatory approvals, according to a bourse disclosure. The Tadawul-listed company pointed out the acquisition […]
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 […]
From F1 to CR7, oil-rich Saudi Arabia’s sports shopping spree
Al Nassr’s surprise capture of football superstar Cristiano Ronaldo is the latest in a string of high-profile sports acquisitions by oil-rich Saudi Arabia. The conservative Gulf monarchy is attempting to attract foreign interest as it diversifies its economy away from oil. Here are some of the moves that have turned Saudi Arabia into a major […]
Riyadh Season 2022 visitors exceeds 10mln in less than 3 months
The number of visitors of Riyadh Season 2022 have exceeded 10 million in less than 3 months. The huge event under the slogan “Beyond Imagination” has successfully managed to attract the visitors of all ages, from inside Saudi Arabia and abroad the Kingdom, through its various activities which kicked off on Oct. 21, 2022. The […]
Saudi Cable’s board mulls over 519.5% capital hike
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 519.61% capital hike, the Saudi firm aims to reduce the […]
Saudi Railway Company: Over 4.1mln passenger transported in 2022
The Saudi Railway Company (SAR) announced that it has transported more than 4.1 million passengers during 2022, recording an increase of 100% compared to 2021, of whom, 1.35 million pilgrims were transported through the Al Mashaer train. In regard of cadres’ development, SAR said that the percentage of Saudization reached 87%, and the training hours […]