First Mills posts $58.7m net, profit margin of 22.8pc in FY 2023
First Milling Company, a market-leading Saudi milling firm, has seen its FY 2023 net profit rise 1.25% to SR220.2 million ($58.7 million) and register net profit margin of 22.8% in FY 2023 and 23.3% in Q4 2023, driven by strong growth in flour sales. Excluding the impact of interest costs, the like-for-like profit would result in […]
TAWAL & MOBiSENSE unveil new technology for private 5G network
TAWAL, Saudi Arabia’s leading integrated IT infrastructure provider, has unveiled a new technical system for private 5G networks at LEAP 2024. The showcase has been done in collaboration with MOBiSENSE, an AI-native mobility analytics solution pioneered in affiliation with King Abdullah University of Science and Technology (KAUST). The new technology was developed locally out of […]
SAR & Maersk unite to boost container transport via trains
Saudi Arabia Railways (SAR) has signed a contract with the sea shipping company Maersk in order to increase the number of containers transported on SAR trains between King Abdulaziz Port in Dammam and Riyadh Dry Port. SAR CEO Bashar Khalid Al-Malik and Maersk Saudi Arabia CEO Mohammad Shihab signed the three-year contract. The deal aims […]
Aramex opens its new regional headquarters in Riyadh
Aramex, a leading global logistics and transportation company, has strengthened its presence in the Kingdom of Saudi Arabia with the inauguration of a new regional office in Riyadh. This move intends to further reinforce the company’s commitment to accelerating the transformation of Saudi Arabia’s logistics sector under the Kingdom’s Vision 2030 plan. The opening of […]
King Salman calls on international community to stop crimes against Palestinians
Saudi Arabia’s King Salman called on the international community to assume its responsibilities and stop brutal Israeli crimes against Palestinians on Sunday. In a speech delivered on his behalf by the Minister of Media Salman Al-Dosari ahead of Ramadan, King Salman said the suffering of the Palestinians pained him, stressing the need for safe humanitarian […]
Saudi Arabia adopts moving chain methodology to calculate real GDP
Saudi Arabia has become the first country in the Gulf Cooperation Council region to have adopted the moving chain methodology for the calculation of its real domestic product, the state-run news agency reported. The report said the General Authority for Statistics will issue its bulletin for the fourth quarter of 2023 and the annual edition […]
Saudi non-oil activities rise by 4.4% in 2023: GASTAT
Saudi Arabia’s non-oil activities demonstrated a significant growth of 4.4 percent in 2023 compared to the previous year, official data showed. Additionally, government activities in the Kingdom experienced a rise of 2.1 percent in 2023 compared to the preceding year, according to a report released by the General Authority for Statistics. The report, however, noted […]
Lulu KSA announces Ramadan deals that bring charity & convenience together
Lulu Saudi Hypermarkets in the Kingdom of Saudi Arabia have announced a grand Ramadan promotion that offers some of the best products from around the world at super affordable prices. Given that shoppers will be looking for value and quality for a wide range of essential goods, the Hypermarket has announced ‘killer prices’ on basic […]
Saudi Aramco launches its first marine fueling station at Jeddah Yacht Club
Saudi Aramco, a global leader in energy and chemicals, Saturday announced the inauguration of “Aramco Marina,” its first marine fueling station in the Kingdom, situated at the Jeddah Yacht Club on the Red Sea coast. This initiative aligns with the company’s commitment to supporting the Kingdom’s tourism sector development and coincides with the commencement of […]
Madinah City certified with gold level in UN’s Sustainable Development Goals program
Madinah city has been certified with the Gold Level of the Sustainable Development Goals (SDG) Cities Program by the United Nations Human Settlements Program (UN-Habitat). This recognition makes Madinah the first city in Saudi Arabia and the Arab region, and the third globally, to complete the second phase of the international requirements of the SDG […]