Eden brings sustainable reservoir stimulation technology to the Middle East
US-based geotechnical firm Eden GeoPower (Eden) has secured multiple contracts for its innovative Electrical Reservoir Stimulation technology in Saudi Arabia and Oman, company President and Co-founder Ammar Alali told Zawya Projects. “Since January, we have been helping with geothermal resource assessment for a well-known major client in Saudi Arabia (name withheld) who have ambitious plans […]
Saudi Arabia, UAE inform IMF of funding to Pakistan
Saudi Arabia and the UAE have intimated to the International Monetary Fund (IMF) on financing to Pakistan, the South Asian country’s Finance Minister Ishaq Dar told ARY News channel. Saudi Arabia and the UAE have confirmed the provision of $2 billion and $1 billion, respectively, to Pakistan, he told the news channel on Monday. Dar […]
Alkhorayef Water wins $432mln project contract
Alkhorayef Water and Power Technologies Company was awarded a long-term operation and maintenance deal valued at SAR 1.62 billion with the National Water Company (NWC) on 17 April. Alkhorayef Water will handle the design, rehabilitation, full operation, and maintenance works of the existing three sewage treatment plants (STPs) in Riyadh. The STPs are Manfouha […]
Saudi’s Haramain high-speed railway transported more than 818,000 passengers during Ramadan
Saudi Arabia Railways (SAR) has announced the successful implementation of its operational plan for Ramadan in 1444 AH. The number of passengers who used the Haramain High-Speed Railway during this period reached over 818,000, indicating a 265% increase compared to the same period last year. Moreover, SAR operated over 2,540 trips, with the number […]
Retal pens over $111.46mln contract with National Housing
Retal Urban Development Company and National Housing Company inked a development agreement worth SAR 418.31 million on 18 April, according to a bourse disclosure. Under the 42-month deal, the two companies will team up to establish residential villas on a total area of 98,098 square metres within the master plan of the East Albuhirat […]
Alkhaleej Training shifts to profits in 2022 results
Alkhaleej Training and Education Company turned profitable at SAR 224,214 in 2022, against net losses after Zakat and tax of SAR 33.34 million in 2021. The Saudi firm generated SAR 880.89 million in revenue as of 31 December 2022, up 4.34% year-on-year (YoY) from SAR 844.21 million, according to the annual income statements. Earnings […]
Dr. Sulaiman Al Habib announces $322mln dividends for 2022
The shareholders of Dr. Sulaiman Al Habib Medical Services Group agreed to disburse cash dividends worth SAR 1.21 billion, representing 34.80% of the capital, for 2022. The Saudi firm will pay a dividend of SAR 3.48 per share, according to a bourse filing. It is worth noting that the shareholders greenlighted the cash dividends during […]
King Abdullah Financial District wins key building certification
The King Abdullah Financial District (KAFD) in Riyadh has secured the WiredScore and SmartScore building certification from global property consultancy Knight Frank. WiredScore certification is a measure of a building’s digital infrastructure and connectivity. A SmartScore certified building demonstrates cutting edge innovation with the use of market leading technology, processes and automation to deliver […]
Saudi: SAIB’s shareholders nod to H2-22 dividends
The shareholders of Saudi Investment Bank (SAIB) approved the board’s recommendation to disburse cash dividends worth SAR 450 million for the second half (H2) of 2022. SAIB will grant SAR 0.45 per share, equivalent to 4.50% of the share nominal value, for eligible shares on 30 April 2023. The shareholders greenlighted the dividends proposal during […]
Saudi Aramco to acquire 10% stake in China’s Rongsheng Petrochemical
Saudi Aramco has signed definitive agreements to acquire a 10 percent stake in Shenzhen-listed Rongsheng Petrochemical Co. (Rongsheng) for $3.6 billion (24.6 billion Chinese Renminbi), fortifying its presence in China’s downstream sector. The Saudi oil major will supply 480,000 barrels per day (bpd) of Arabian crude oil to Rongsheng affiliate Zhejiang Petroleum and Chemical Co. […]