Saudi’s Advanced gets license to build propane gas transport system
Saudi-listed Advanced Petrochemical Company’s subsidiary, Advanced Global Investment Company, has received approval from the Ministry of Energy to construct, own and operate pipelines for propane gas transport in Jubail Second Industrial City (Jubail – 2), the company said in a statement to the Saudi stock exchange. The approval is valid for 25 years from the […]
LCGPA and “Saudi Downtown” Cooperate to develop local content in company’s projects in 12 cities
Saudi Downtown Company, a wholly-owned subsidiary of the Public Investment Fund, and the Local Content and Government Procurement Authority (LCGPA) signed a cooperation agreement to discuss opportunities to develop local content and national capabilities and strengthen cooperation with local suppliers and small and medium enterprises in Saudi Downtown Company projects in 12 Saudi cities. Saudi […]
Saudi: SABB partners with Cybersource for eCommerce space
Saudi British Bank (SABB) has announced a strategic partnership with Visa’s Cybersource payment gateway and risk platform, with the aim of fostering the bank’s growth in an evolving and dynamic eCommerce space. This partnership will enhance the overall capabilities of SABB’s Payment Gateway and, most importantly, enhance network uptime, which will also supplement the bank’s […]
WTTC’s Global Summit in Riyadh set to be biggest ever
The World Travel & Tourism Council’s (WTTC) 22nd Global Summit opened yesterday (November 28) in Riyadh, Saudi Arabia, in what is set to be the largest event in its history with an estimated 3,000 people expected to attend.. Addressing media from around the world, Julia Simpson, WTTC President & CEO, announced that the event taking […]
2025 to witness the 1st Saudi e-vehicle
The Saudi Industrial Development Fund (SIDF) CEO Ibrahim Almojel has confirmed that the year of 2025 will witness the appearance of the first Saudi electric vehicle, with production reaching 150,000 cars annually. Almojel’s confirmation came during an interview with Rotana Khalejeyah, where he stressed that Saudi Arabia has the ability to achieve this […]
Saudi ACWA Power aims to invest $10bln in Egypt: CEO
Egypt has pushed strongly for expanding renewable energy production to reduce greenhouse gases, improve air quality, and enhance opportunities for a gradual transition towards reliance on sustainable energy. The energy sector witnessed a significant expansion in the establishment of several projects to generate electricity from wind and solar power, with the aim of feeding green […]
Saudi Arabia becomes 1st Gulf state to chair UNWTO Executive Council
Saudi Arabia has become the first GCC country to chair the United Nations World Tourism Organization (UNWTO) Executive Council. The election took place at the UNWTO’s 117th Executive Council meeting in Marrakesh, Morocco. The move follows Saudi Arabia’s diplomatic efforts to cooperate on improving the global tourism sector and increasing its resilience. The term for […]
Gulf Investment House raises stake in Inovest to nearly 24%
Kuwait-based Gulf Investment House (GIH), listed on Abu Dhabi Securities Exchange (ADX), increased its equity ownership in Inovest to 23.84%, according to a bourse filing. The listed firm purchased 25.55 million shares in Inovest, one of GIH’s associated companies, in exchange for KWD 2.29 million. GIH registered KWD 1.36 million worth of gains from […]
Standard Chartered Bank appoints CEO for Saudi unit
Standard Chartered Bank has appointed Mazen Fahad Al Bunyan as Chief Executive Officer, Standard Chartered Bank Saudi Arabia, effective November 2022. Prior to joining Standard Chartered Bank, Al Bunyan was the CEO of Alawwal Invest Company, the investment subsidiary of The Saudi British Bank (SABB/HSBC) based in Riyadh, where he led the integration of Alawwal […]
Fine Hygienic Holding wins license to market FIFA World Cup Qatar 2022 facial tissues
Football’s world governing body FIFA has awarded Fine Hygienic Holding (FHH) the license to design, produce, and sell limited-edition packs of facial tissues commemorating the FIFA World Cup Qatar 2022™. FHH launched the special edition packs in hypermarkets and supermarkets in Jordan, Egypt, Saudi Arabia, the UAE, Bahrain, Oman, Kuwait, Iraq, Morocco, and Sudan in […]