Saudi’s Rua Al Madinah Holding signs agreements for hotels, support offices in Madinah
Rua Al Madinah Holding, a wholly owned unit of Saudi’s Public Investment Fund (PIF), and developer of Rua Al Madinah project in Madinah, announced on Tuesday that it has signed five major agreements on the side lines of Medina Expo (Medex 2022). The new agreements encompass the design of several hotels and the Islamic Civilization […]
Saudi: SASCO to pay $7.97mln dividends for Q3-22
The board of Saudi Automotive Services Company (SASCO) decided to distribute cash dividends worth SAR 30 million, representing 5% of the capital, for the third quarter (Q3) of 2022. SASCO will disburse SAR 0.50 per share for 60 million eligible shares, according to a bourse disclosure. Meanwhile, the eligibility date for the cash dividends […]
Saudi: CMA nods to public offering of 2 Saudi funds
The Capital Market Authority (CMA) approved the public offerings of the GIB MENA ESG Equity Fund and Albilad Sukuk Fund by GIB Capital Company and Albilad Investment Company (Albilad Capital), respectively. The two approvals were issued on 18 December 2022, according to a bourse filing. Founded in April 2008, GIB Capital is a wholly-owned subsidiary […]
Saudi: Tibbiyah’s unit pens over $19.8mln deal with NUPCO
International Medical Supplies Company (Premma Health), a subsidiary of Arabian International Healthcare Holding Company (Tibbiyah), inked a SAR 74.67 million contract with National United Procurement Company (NUPCO). Under the 915-day agreement, Premma Health will provide government institutes with the medical consumables that are required for orthopedics and spine, according to a bourse filing. The awarding […]
OPEC Fund approves over $500mln in new global development support
Setting a new record, the OPEC Fund for International Development (OFID) has approved more than US$500 million in new financing at the most recent meeting of its Governing Board and in the final quarter of 2022. The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and […]
EFG Hermes completes listing of Saudi’s RCGC’s $378mln IPO
EFG Hermes, a leading investment bank franchise, has concluded advisory on the SR1.4 billion ($378 million) IPO of Saudi power cables manufacturer Riyadh Cables Group Company (RCGC) on the Saudi Exchange. This is yet another landmark deal in the kingdom that marks the 10th IPO the EFG has advised on during 2022. EFG Hermes also […]
Saudi Arabia launches National Biobank
Health Minister and Chairman of the Board of Directors of the Public Health Authority (Weqaya) Fahad Al-Jalajel inaugurated the National Biobank in Saudi Arabia. Al-Jalajel said that this project is one of the important milestones in raising the efficiency and effectiveness of the infrastructure of public health systems in the Kingdom. “It will further enhance […]
NCM forecast: Most Saudi regions to witness weather fluctuations in coming days
The National Center of Meteorology (NCM) issued an alert about the possibility of weather fluctuations in most regions of Saudi Arabia from Wednesday until Friday. NCM expects that the inclement weather will be accompanied by thunderstorms, hails, and dust that could lead to low visibility. The center said that parts of the regions of Makkah, […]
Australia extends F1 deal, Saudi Arabia to open 2024 season
The Australian Grand Prix will remain in Melbourne until at least 2037 with a new deal to be the season-opening race on at least four occasions and Saudi Arabia to kick off the 2024 campaign, the Victoria state government said on Thursday. The deal for a further two years at Albert Park follows a 10-year […]
3.6mln Saudi homes under fiber optics coverage, penetration rate crosses 60%
Governor of the Communications, Space and Technology Commission (CST) Dr. Mohammed Altamimi has said the commission is striving to stimulate investment and enhance positive competitiveness in the information technology market and emerging technologies through a solid infrastructure that contributed to covering more than 3.6 million homes in the Kingdom with optical fibers. Altamimi […]