Praesidiad to set up manufacturing facilities, offices in Dammam
Praesidiad, a world market leader of force protection solutions,integrated perimeter security systems and industrial mesh production and fencing products, has announced plans to set up its manufacturing facilities and offices in Saudi city of Dammam. With this move, Praesidiad continues to expand its global footprint starting with a major investment in Saudi Arabia, and […]
Saudi’s Qiddiya City committed to cut down energy consumption by 60%, says CEO
The Business Development Manager at Qiddiya Investment Co. (QIC), Greg Whiteside, has confirmed the Qiddiya project’s commitment to conserving energy and reducing carbon emissions. Whiteside made the remarks during the second Saudi International Iron and Steel Conference in Riyadh. He stated that the project would conserve energy through sustainable buildings and projects that reduce power […]
Coinweb set to establish presence in UAE, Saudi in H1 2023, says CEO Gilbert
Coinweb is firmly on the roadmap to establish its presence in UAE and Saudi Arabia in H1 2023, Toby Gilbert, CEO and Co-Founder told Khaleej Times in an exclusive interview. “In line with the UAE’s drive to become a world-class financial hub, its policy on crypto has demonstrated how forward-thinking the government has become. […]
Two more companies granted license to provide payment services in Saudi Arabia
The Saudi Central Bank (SAMA) granted two new licenses to payment financial technology companies. The two payment financial technology companies licensed to provide payment services for e-commerce are Arab Sea Financial Company and Fatoraah. This brings the total number of payment companies licensed by SAMA to 21, in addition to 5 companies that were granted […]
Siwar Foods signs agreement with Saudi’s SACC
Siwar Foods, a Saudi FMCG company, has signed a formal agreement with Saudi Airlines Catering Company (SACC) that will see the two companies work together on food solutions for different business segments. The market for time saving and ready to eat food continues to grow in KSA and research conducted by Siwar highlighted that […]
Riyadh Cement’s earnings fall 47% in H1-22
Riyadh Cement Company’s net profit after Zakat and tax shrank by 46.96% during the first half (H1) of 2022 to SAR 85.06 million, compared to SAR 160.38 million in the same period in 2021. Profit per share reached SAR 0.71 in H1-22, compared with SAR 1.34 in H1-21, according to a stock exchange statement on […]
Saudi Al Sagr Cooperative Insurance’s accumulated losses surpass $69.06mln
The accumulated losses incurred by Al Sagr Cooperative Insurance Company have reached SAR 259.28 million as registered on 30 June 2022. Al Sagr Cooperative Insurance noted that the accumulated losses amount represented 65 % of its SAR 400 million paid-up capital, according to a bourse disclosure on Sunday. The insurer plans to take several […]
Saudi ministry announces final stage in licensing for largest mining site, Khnaiguiyah
The Saudi Ministry of Industry and Mineral Resources (MIM) announced the final stage for the exploration license for Khnaiguiyah, the Kingdom’s largest exploration sites, which covers approximately 353 kilometers west of Riyadh. Three bidders will participate in the electronic live multi-round auction on the signing bonus on Sunday, September 04, 2022. The multi-round auction […]
Saudi’s SFDA warns against excessive use of melatonin supplement
The Saudi Food and Drug Authority (SFDA) has warned against the excessive use of melatonin supplements. The authority said that melatonin supplement is usually used to shorten the time required to fall asleep and to alleviate fatigue symptoms after travel due to jet lag. It added that excessive use of this supplement may cause headaches, […]
Tourist visa holders can’t perform Haj: Saudi ministry
The tourist visa does not allow holders to preform Hajj or to preform Umrah during the Hajj season, the Ministry of Tourism clarified as it announced amendments to the tourist visa regulations. The newly amended tourist visa regime requires tourists to comply with the regulations and security instructions during their stay in the Kingdom, […]