Saudi’s Kingdom Holding increases stake in UK’s Phoenix Group
Kingdom Holding Company (KHC) announced on Sunday an additional 274.2 million Saudi riyals ($73.10 million) investment in Phoenix Group. The new investment increases Kingdom Holding’s ownership in the UK-based insurance, savings and retirement firm to 5% from 4%, the company said in a statement to the Saudi stock exchange. In July 2022, the investment company, […]
Saudi’s SFDA lifts ban on poultry and eggs from Poland
The Saudi Food and Drug Authority (SFDA) has decided to lift a temporary ban on the import of poultry meat, eggs, and their products and preparations from Poland. SFDA said it made the decision based on the immediate notification report issued by the World Organization for Animal Husbandry, which states that the highly virulent bird […]
Sudan battles rage as Saudi hosts latest truce talks
Gun battles and air strikes on Sunday again flared in Sudan’s capital, which has been rocked by four weeks of fighting despite the latest ceasefire efforts backed by Saudi Arabia and the United States. Multiple truce deals have been declared and quickly violated since fighting erupted between army and paramilitary forces on April 15 in […]
Saudi announces 50 investment opportunities worth over $26.6bln in machinery, equipment sector
Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef, who is also Chairman of National Industrial Development Center (NIDC), announced that the industry and mining sector is working with relevant authorities to attract 50 investment opportunities worth more than SAR 96 billion in the machinery and equipment sector. The investment opportunities, which […]
Mohammed bin Salman Nonprofit City signs agreement with Le Cordon Bleu
Mohammed bin Salman Nonprofit City signed an agreement with Le Cordon Bleu, one of the world’s leading educational centres in culinary arts and hospitality management. The objective of this partnership is to strengthen cooperation and develop Saudi talents in culinary arts both locally and globally. As part of this agreement, Le Cordon Bleu Arab […]
Saudi material cost trends: Iron falls nearly 10%, cement rises 1% in Q1 2023
The average price of iron in Saudi Arabia declined by 9.65 percent to 3,196.88 Saudi riyals per tonne in the first quarter of 2023 from SAR 3,538.50 per tonne in the year-earlier period, according to the country’s General Authority for Statistics. Iron prices – Q1 2023 v/s Q1 2022 Cabling prices slipped 3.65 percent year-on-year […]
Saudi Ports gain 17.57% in Q1 container volumes
Quarterly container statistics further show a 16.08% spike in exported TEUs, attaining a total of 559,829 against the last year’s Q1 volume of 513,273 TEUs The Saudi Ports Authority (Mawani) has reported a 17.57% increase in container processing at its trade hubs during the first quarter of 2023, scoring a throughput of 2,011,162 TEUs compared […]
IsDB Group to bring together ministers from 57 member countries
The Islamic Development Bank (IsDB) Group is set to host its 2023 IsDB Group Annual Meetings in Jeddah from May 10 to 13 bringing together a large spectrum of stakeholders, including ministers from the 57 member countries. Held under the patronage of The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, […]
Diriyah in deal to develop premier Saudi tourism destinations
Saudi-based Diriyah Company (formerly Diriyah Gate Development Authority) has teamed up with pioneering luxury lifestyle brand Aman Group for the development of two premier tourism destinations in the kingdom. Located in the exotic desert landscape near the city of Riyadh, Aman Wadi Safar will feature 78 hotel rooms as well as a collection of up […]
Saudi’s Diriyah giga project announces two new hospitality projects
Saudi Arabia’s master developer Diriyah Company and Swiss-headquartered Aman Group announced the launch of two new hospitality projects in Diriyah, a cultural and heritage destination. Located near Riyadh, Aman Wadi Safar will feature 78 keys and 34 fully-serviced Aman-branded residences. Malaysia’s Denniston Architects have designed the resort. The two companies also announced the launch of the 120-room Janu Diriyah, […]