Saudi foreign minister reassures safety of released prisoners in phone calls with counterparts
Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan bin Abdullah made phone calls on Wednesday with his counterparts of the United States, United Kingdom, Sweden and Croatia. During the talks, he reassured them the safety of the released prisoners from their respective countries. The prisoners, 10 in number, safely arrived in the Kingdom on […]
Third plane of Saudi relief airlift arrives in Pakistan
The third airlift relief plane, dispatched by King Salman Humanitarian Aid and Relief Centre (KSrelief) arrived in Karachi, Pakistan, Wednesday, carrying 30 tons of food, shelter and medical assistance to support flood-affected people throughout the country. The urgent aid, which will benefit 4,212 people, was sent according to a directive from Custodian of the […]
STC subsidiary in process of acquiring Giza Systems for $145mln
Arabia Communications Services Company (Solutions) — one of the subsidiaries of Saudi Telecom Company (STC) — is preparing to acquire the entire stake of B Investments Holding in Giza Systems, which amounts to 44.7%. The Board of Directors of B Investments Holding approved the study of the fair value of the shares of Giza […]
Saudi Cable’s accumulated losses shrink to $16mln
The accumulated losses of Saudi Cable Company plunged by 69.40% to SAR 59.81 million as of 31 July 2022, accounting for 89.60% of the recently reduced capital. The lower accumulated losses followed a 74.60% capital cut to SAR 66.72 million from SAR 262.31 million, according to a bourse filing. In July 2022, the shareholders […]
Praesidiad to set up manufacturing facilities, offices in Dammam
Praesidiad, a world market leader of force protection solutions,integrated perimeter security systems and industrial mesh production and fencing products, has announced plans to set up its manufacturing facilities and offices in Saudi city of Dammam. With this move, Praesidiad continues to expand its global footprint starting with a major investment in Saudi Arabia, and […]
Saudi’s Qiddiya City committed to cut down energy consumption by 60%, says CEO
The Business Development Manager at Qiddiya Investment Co. (QIC), Greg Whiteside, has confirmed the Qiddiya project’s commitment to conserving energy and reducing carbon emissions. Whiteside made the remarks during the second Saudi International Iron and Steel Conference in Riyadh. He stated that the project would conserve energy through sustainable buildings and projects that reduce power […]
Coinweb set to establish presence in UAE, Saudi in H1 2023, says CEO Gilbert
Coinweb is firmly on the roadmap to establish its presence in UAE and Saudi Arabia in H1 2023, Toby Gilbert, CEO and Co-Founder told Khaleej Times in an exclusive interview. “In line with the UAE’s drive to become a world-class financial hub, its policy on crypto has demonstrated how forward-thinking the government has become. […]
Two more companies granted license to provide payment services in Saudi Arabia
The Saudi Central Bank (SAMA) granted two new licenses to payment financial technology companies. The two payment financial technology companies licensed to provide payment services for e-commerce are Arab Sea Financial Company and Fatoraah. This brings the total number of payment companies licensed by SAMA to 21, in addition to 5 companies that were granted […]
Siwar Foods signs agreement with Saudi’s SACC
Siwar Foods, a Saudi FMCG company, has signed a formal agreement with Saudi Airlines Catering Company (SACC) that will see the two companies work together on food solutions for different business segments. The market for time saving and ready to eat food continues to grow in KSA and research conducted by Siwar highlighted that […]
Riyadh Cement’s earnings fall 47% in H1-22
Riyadh Cement Company’s net profit after Zakat and tax shrank by 46.96% during the first half (H1) of 2022 to SAR 85.06 million, compared to SAR 160.38 million in the same period in 2021. Profit per share reached SAR 0.71 in H1-22, compared with SAR 1.34 in H1-21, according to a stock exchange statement on […]