Business & Money | Sunday 7 April, 2024 7:48 am

IBM starts preparations for new center in Riyadh

US-based IBM started preparations for its new software development center in Riyadh, under the management of Gaya Magie, who relocated to Saudi Arabia to lead the new center, Al-Eqtisadiah newspaper reported.   Ayman AlRashed, Regional Vice President of IBM Saudi...

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Business & Money | Sunday 7 April, 2024 7:46 am

Industry, Investment Ministries invite miners to register for Mining Exploration Enablement Program

The Ministry of Industry and Mineral Resources and the Ministry of Investment invite mining companies and explorers worldwide to register for the Mining Exploration Enablement Program, as part of the Kingdom's efforts to enhance and develop the mining sector and transform it into the third pillar...

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Business & Money | Saturday 6 April, 2024 7:36 am

CEO of Thakher Development: We Anticipate that Makkah Will Host 30 Million Umrah Performers Annually Before 2030

Eng. Abdulaziz bin Saleh Al-Aboudi, CEO of Thakher Development Company, stated that he anticipates Makkah will host 30 million Umrah performers annually by 2030.   Al-Aboudi made these remarks during his participation in a panel discussion at the second edition of the...

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Business & Money | Saturday 6 April, 2024 7:30 am

ROSHN to Collaborate with Google Cloud to Unlock the Power of AI

ROSHN Group, the PIF-owned giga-project and Saudi Arabia’s most trusted real estate developer, has signed an agreement with Google Cloud that seeks to leverage artificial intelligence (AI) to transform how it uses and benefits from data analysis.  The collaboration will see Saudi...

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Government | Saturday 6 April, 2024 7:08 am

HRSD launches initiative to improve contractual relationship for domestic workers

The Ministry of Human Resources and Social Development (HRSD) launched an initiative to improve the contractual relationship for domestic workers.   In a statement, the ministry indicated that the initiative regulates the procedures for unilaterally terminating the employment...

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Business & Money | Friday 5 April, 2024 4:25 am

5 investors, local firm fined SAR 44.9M on capital market violations

Five investors were convicted of violating the Capital Market Law and fined SAR 3.5 million. Four investors and a local company were ordered to pay SAR 41.4 million due to the illicit gains achieved in their investment portfolios, in addition to another portfolio.   The Appeal...

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Business & Money | Friday 5 April, 2024 1:07 am

Riyad Bank says Riyad Capital IPO ‘under assessment’

Riyad Bank’s board of directors approved on April 3 to start assessment and preparation of a possible initial public offering (IPO) of its subsidiary, Riyad Capital for listing on the Saudi Exchange (Tadawul), according to a statement to Tadawul.   Riyad Bank and Riyad Capital ...

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Business & Money | Friday 5 April, 2024 12:04 am

Saudi Electricity redeems $1.5B sukuk due on April 8

Saudi Electricity Co. (SEC) fully redeemed its $1.5 billion international sukuk due on April 8, 2024, listed on Irish Stock Exchange (Euronext Dublin), issued on April 8, 2014.   In a statement to Tadawul, the company said 7,500 sukuk were redeemed at a par value of...

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Environment & Energy | Thursday 4 April, 2024 11:35 am

ADES suspends 5 offshore rigs in KSA; no change in 2024 financial outlook

ADES Holding Co. mutually agreed with its client in Saudi Arabia to suspend the operations at five of its 33 offshore jack-up rigs in the Kingdom, for a period that may extend up to 12 months.   One of the suspended rigs will be deployed as part of the contract ADES recently secured...

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Business & Money | Thursday 4 April, 2024 11:21 am

STC Bank launches in Beta supported by SAMA

Today stc pay was given formal approval from the Saudi Central Bank (SAMA) to move to the next phase of its transformation journey into STC Bank. This beta launch is limited to preselected customers and is a preparation for a full public launch later in the year. This step is supported by SAMA,...

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