Saudi’s Al Hammadi records 67.5% higher profits in H1-22 interim results
Al Hammadi Company for Development and Investment generated SAR 127.06 million in net profit after Zakat and tax during the first half (H1) of 2022, an annual jump of 67.54% from SAR 75.84 million. Revenues surged by 18.36% to SAR 532.83 million in January-June 2022, compared to SAR 450.19 million during the same period […]
Saudi Dar Alarkan’s profits exceed $83.46mln in H1-22
Dar Alarkan Real Estate Development Company posted a 515.38% surge in net profit after Zakat and tax to SAR 313.60 million during the first half (H1) of 2022, versus SAR 50.96 million in H1-21. Revenues increased by 104.64% year-on-year (YoY) to SAR 2.29 billion in H1-22, compared to SAR 1.12 billion, according to the […]
ValU prepares to launch its activities in Saudi Arabia before 2022-end
EFG Hermes’ consumer finance arm valU prepares to expand its business in Saudi Arabia before the end of this year, sources told Daily News Egypt. The sources added that valU works on completing all the necessary operational measures in cooperation with Saudi Al-Hokair Group, which recently acquired a share of about 5% of the […]
RAYA CX to manage Zain KSA’s customers’ experience in Saudi Arabia
RAYA Customer Experience (RAYA CX), a subsidiary of Raya Holding for Financial Investments, has signed a partnership agreement with Mobile Telecommunication Company Saudi Arabia (Zain KSA) to manage its customers’ experience in Saudi Arabia. Under the deal, RAYA CX provides outsourcing services to Zain KSA, enhancing the experience of its customers in the kingdom, […]
Saudi Airport Exhibition to kick off on Nov 7 in Riyadh
Over 100 leading global companies from more than 20 countries will explore the untapped growth potential of the airports industry in Saudi Arabia at the upcoming Saudi Airport Exhibition in Riyadh. The B2B platform, set to take place at the Al Faisaliah Hotel in Riyadh on November 7 and 8, will focus on three key […]
Saudi’s energy city SPARK announces deal to build $10mln factory
Saudi Arabia’s energy city King Salman Energy Park (SPARK) has confirmed a new deal for the development of a multimillion-dollar manufacturing site that will produce corrosion protection tapes and oil and gas equipment. In a statement on Monday, the energy city said it has just signed an agreement with oil and gas services provider Mubarak […]
Agritech start-up Graze-it kicks off ops in UAE, Saudi Arabia
UAE-based agritech business Graze-it is now formally commencing its operations in the UAE and the Kingdom of Saudi Arabia (KSA) with the aim of disrupting livestock feed for a more sustainable future. By growing sustainable animal feed directly at the consumer’s site, the company is solving a major food security challenge in the Middle East, […]
Saudi Electricity Company’s net profit falls on higher costs
State-controlled Saudi Electricity Company has posted a decline in net profit despite higher demand, as operating and maintenance costs increased. Net profit for the second quarter of the year reached SAR5.5 million, down by 5.6% compared to SAR5.8 million a year ago, the company said in a statement on the Saudi Stock Exchange (Tadawul) Monday. […]
Egypt Aluminum, EMPC reply to news reporting PIF’s potential investment
Egypt Aluminum and the Egyptian Media Production City Company (EMPC) have made two statements on Sunday in line with the news reporting that Saudi Arabia’s Public Investment Fund (PIF) aims to invest in the two companies. Egypt Aluminum revealed that it is currently studying increasing the company’s capital, adding that it will present the transaction […]
Saudi wealth fund PIF boosts US holdings with stakes in Alphabet, JPMorgan Chase, Amazon
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has bought minority stakes in a string of top American companies including Alphabet Inc., JPMorgan Chase & Co., American Tower Corporation, Amazon.com, Inc. and Zoom Video Communications, according to a regulatory filing. The PIF disclosed stakes worth $464 million in Alphabet, the parent company of […]