International Maritime Industries seals Bahri Logistics deal

  International Maritime Industries (IMI), the largest shipyard in the Mena region, has signed a long-term agreement with Bahri Logistics, one of Bahri’s business units, to enhance its supply chain through state-of-the-art warehousing and logistics services. The agreement supports IMI’s commitment to developing the Saudi maritime industry and will further enable IMI to offer its […]

Wizz Air launches Rome-Dammam ultra-low-cost flights

    Wizz Air, Europe’s fastest growing and most sustainable airline, has commenced its flight from Rome (Italy) to Dammam (Saudi Arabia). The new ultra-low-cost route will provide a boost to the burgeoning tourism industry in both Italy and Saudi Arabia, by bringing a new era of affordable, hassle-free, and point-to-point travel opportunities, the airline […]

Bahrain, Saudi Arabia discuss cooperation in tourism

Bahrain has underlined the commitment to continue the integrative efforts with Saudi Arabia in the tourism sector, which plays a key role in increasing the contributions of this sector to the national economies of both kingdoms. This came about as Bahrain’s Minister of Tourism, Fatima bint Jaafar Al-Sairafi, met Ahmed Aqeel AlKhateeb, the Minister of […]

Saudi Arabia to establish new unified regulator for insurance sector

  Finance Minister Mohammed Al-Jadaan stated on Wednesday that a new unified regulator for the insurance sector in Saudi Arabia would be established soon. At the 6th Saudi Insurance Symposium (SIS), which is one of the largest forums for the insurance companies across the Middle East, he said that the new unified regulator for the […]

Jordan, Saudi Arabia to sign electric connection agreements by year’s end

  Jordan and Saudi Arabia on Tuesday discussed three agreements regarding the electric connection between the two countries, expected to be officially signed by the end of 2022. The executive, operational and commercial features of the agreements were discussed during a meeting between National Electric Power Company (NEPCO) Director Amjad Rawashdeh and Saudi Power Procurement […]

Saudi-listed firm bags $23mln contract to develop bus transport system in Taif city

Saudi Public Transport Company (SAPTCO) has been awarded a project by Taif Municipality to develop a public bus transport system in Taif city. The five-year project is valued at 88 million Saudi riyals ($23.39 million), the company said in a stock exchange statement. In March, the Transport General Authority announced that it will roll out […]

Saudi’s NEOM rebrands tech company as ‘Tonomus’, invests $1bln in 2022

  NEOM Tech & Digital Company — the first company to be established as a full-fledged subsidiary of NEOM — launched on Tuesday as ‘Tonomus,’ signaling the next stage in its growth trajectory as a cognitive multinational conglomerate. Headquartered at NEOM since its 2021 inception as the pioneering project’s technology and digital lead, Tonomus is […]

HSBC Saudi names new CEO as it starts another ‘growth phase’

HSBC Saudi Arabia has appointed a new CEO as it embarks on a new phase of growth, according to a statement on Monday. The company’s board of directors has voted for Faris AlGhannam to take over the CEO position effective October 1, 2022, subject to regulatory approval. He will succeed Rajiv Shukla, who has been […]

Saudi firm awarded large housing project in Iraq

OEC producer Iraq has awarded a large project to the Saudi ‘Al-Arifi Group’ involving the construction of part of its new administrative capital near Baghdad, an Iraqi official was reported on Monday as saying. ‘Al-Rafeel’ administrative capital, which is similar to Egypt’s Cairo administrative capital project, has an area of more than 200 square kilometres […]

CMA approves Saudi Enaya’s capital reduction

      The Capital Market Authority (CMA) greenlighted Saudi Enaya Cooperative Insurance Company’s request to decrease the capital to SAR 100 million from SAR 150 million. The reduced capital will be distributed over 10 million shares, compared to 15 million shares prior to the cut, according to a recent bourse filing. Last July, the […]