Business & Money | Thursday 16 May, 2024 1:51 pm

Metric Joins Forces with 500 Global to Fuel SME Growth across the GCC

 Metric, a global financial intelligence and analytics platform built for small and medium-sized businesses (SMBs), has been backed by the 500 Global program through the Sanabil 500 Mena Seed fund. This support underlines Metric's commitment to fostering the burgeoning SME sector in Saudi...

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Business & Money | Thursday 16 May, 2024 8:00 am

Tibbiyah’s unit wins 2 purchase orders with NUPCO worth SAR23.8M

Arabian International Healthcare Holding Co. (Tibbiyah) awarded on May 14, two purchase orders, in favor of Al Faisaliah Medical Systems Co. (FMS), a wholly owned subsidiary by the National Unified Procurement Co. (NUPCO), at a value of SAR 23.8 million. Tibbiyah explained in a statement on Tadawul ...

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Business & Money | Thursday 16 May, 2024 7:32 am

ADES CEO says rig additions boost profit growth, 75% of revenue from Aramco

ADES Holding Co.'s Q1 2024 profit growth was driven by an increase in revenues, coupled with the company's proactive step of hedging for about 60% of its loans, which helped slash costs to about 4%, according to CEO Mohamed Farouk. Speaking with Al Arabiya TV, the top executive said...

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Business & Money | Thursday 16 May, 2024 7:26 am

NEOM workers reach 140,000, to hit 200,000 in 2025: CEO

There are about 140,000 construction workers currently working around the clock in the NEOM project, said CEO Nadhmi Al-Nasr. In his speech at the Saudi-British Great Future Initiative Conference in Riyadh, Al-Nasr expected that the number of project workers will rise to 200,000 next...

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Business & Money | Thursday 16 May, 2024 7:16 am

Sulaiman Al Habib approves transferring SAR 1.05B to retained earnings

Shareholders of Dr. Sulaiman Al Habib Medical Services Group (HMG) approved, during the meeting held on May 14, the board’s proposal to transfer the company’s statutory reserve of SAR 1.05 billion as in financial statements for Dec. 31, 2023, to the retained earnings, according to a statement...

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Business & Money | Thursday 16 May, 2024 7:12 am

Steel Pipe wins SAR 138.6M contract with Aramco

Saudi Steel Pipe Co. (SSP) was awarded a contract to supply oil and gas steel pipes to Saudi Aramco, with an estimated value of SAR 138.6 million. The contract is valid for 12 months, the pipe manufacturer said in a statement to Tadawul, noting that there are no related parties to the...

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Business & Money | Thursday 16 May, 2024 7:09 am

Balady Poultry inks SAR 81M deal for processing equipment supply

Balady Poultry Trading Co. signed, on May 13, a contract with BAADER Food Systems Denmark Co. for the supply of processing equipment for the poultry meat factory at a total value of SAR 81 million. In a statement to Tadawul, the company said that the contract’s term is 24 months, noting that ...

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Business & Money | Thursday 16 May, 2024 6:56 am

MSCI adds 8 Saudi firms, excludes 6 in periodic review

MSCI Inc, the provider of research-based indexes and analytics, announced the results of its periodic review, adding SAL Saudi Logistics Services Co. to the MSCI Global Standard Index. Meanwhile, the index added seven firms to MSCI Saudi Arabia Small Cap Index, namely, Al-Babtain Power...

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Business & Money | Thursday 16 May, 2024 6:20 am

IHR appoints Yaqeen Capital to advise on move to Main Market

International Human Resources Co. (IHR) appointed Yaqeen Capital as financial advisor on its planned transition from the Nomu-Parallel Market to the Main Market, according to a statement to Tadawul. The transition is subject to the approval of the Saudi Exchange and is conditional on...

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Business & Money | Wednesday 15 May, 2024 4:51 pm

SUN SIYAM RESORTS PROMOTES AHMED NAUFAL TO GROUP DIRECTOR OF SALES & MARKETING

Sun Siyam Resorts is pleased to announce the promotion of Ahmed Naufal to the role of Group Director of Sales & Marketing, effective from April 2024. Previously serving as Cluster Director of Sales & Marketing at the compnay, Naufal will now spearhead the strategic sales and marketing...

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