Saudi PIF, holders to offer 30% stake in oil driller ADES IPO
Saudi Arabia’s sovereign wealth fund, ADES Investments Holding and Zamil Group Investment plan to sell shares in oil and gas driller Ades International Holding in a local initial public offering (IPO), set to be one of the kingdom’s biggest this year. The offering will consist of 338.7 million shares, or a 30 per cent stake […]
Saudi Arabia launches real estate platform to support owners, buyers
Saudi Arabia has launched a new platform to boost the country’s real estate sector. The platform facilitates real estate transactions and provides various e-services for property owners and buyers. Saudi Justice Minister Walid Al-Samaani inaugurated the ‘Real Estate Market’ platform in Riyadh on August 27. “The real estate market aims to enhance customer experience and […]
World’s first zero-carbon 5G network unveiled at Six Senses Southern Dunes
The Red Sea Global (RSG), the developer behind The Red Sea and Amaala projects in Saudi Arabia, and telecom company Zain KSA have unveiled the world’s first zero-carbon 5G network at the Six Senses Southern Dunes resort at The Red Sea. RSG said that the zero-carbon 5G network, designed exclusively for The Red Sea, will […]
Saudi Arabia plans to issue $9.6bn in sukuk after buyback
Saudi Arabia has completed an early purchase of more than SAR35.7bn ($9.5bn) of outstanding debt and will issue about SAR35.9bn in sukuk , as the kingdom plans to bolster its domestic market. The government bought a portion of its debt instruments maturing in 2024, 2025 and 2026, the National Debt Management Center said in a […]
SIRC & flynas partner to recycle aircraft waste
The Saudi Investment Recycling Company (SIRC), owned by the Kingdom’s Public Investment Fund (PIF) and flynas, the national carrier and the leading low-cost airline in the world and the Middle East, have signed a memorandum of understanding (MoU) to explore partnership opportunities in sustainability to enhance efforts to create an advanced circular economy. The MoU […]
JOSLOC renews partnership with Al Wallan Trading
Aljomaih and Shell Lubricating Oil Company (JOSLOC) has renewed its strategic partnership with Al Wallan Trading in order to provide their service centers with Shell oil. According to the statement, “Through this successful partnership, Shell will supply Al Wallan’s service centers with Shell’s technically advanced lubricants; which make Shell oils the approved oils in their […]
Ma’aden renews deal to supply fertilizers to Bangladesh
The Saudi Arabian Mining Company (Ma’aden) has renewed its agreement with the Bangladesh Agricultural Development Corporation (BADC) to supply 600,000 tons of fertilizers to BADC. Ma’aden is the largest multi-commodity mining and metal company in the Middle East and the world’s second-largest exporter of phosphate fertilizer. BADC is a government-owned corporation that imports fertilizers under […]
Saudi PIF establishes new women’s fitness & well-being company ‘Kayanee’
he Public Investment Fund (PIF) has established the Kayanee Company, a unique lifestyle-integrated concept designed to inspire and enhance women’s well-being in Saudi Arabia. Kayanee will focus on women’s health and lifestyle of future generations through six offerings, including fitness, apparel, personal care & treatments, nutrition & diagnostics, healthy eating and learning. Chaired by HRH […]
Saudi Arabia’s ACWA Power installs largest wind turbine in Central Asia
ACWA Power, a Saudi-listed company and the world’s largest private water desalination company, has successfully installed the first wind turbine for its 500MW Bash wind farm project, located in the Bukhara region of Uzbekistan. The wind turbine generator (WTG) manufactured by Envision is the largest of its kind in Central Asia with a capacity of […]
King Abdullah Port announces strategic partnerships boosting maritime offerings
King Abdullah Port has announced a strategic partnership with two providers of marine fuel supply and services: Western Fuel Supply for Petroleum Products Company and Minerva Bunkering. The alliance marks a new chapter in the growth of the port’s maritime services, emphasising its commitment to offering services to every vessel that visits the port, a […]