Leading Saudi data management & digitalization company Master Works unveils a brand new digital arm through the launch of subsidiary Adree. As a visionary tech-driven company with offices in Saudi Arabia, where it is headquartered, Adree is on a mission to become a digital...
The Zakat, Tax and Customs Authority’s (ZATCA) new regulations for collecting Zakat offer independent Zakat treatments, encompassing various sectors such as real estate activities, construction, investment funds, insurance, financing, and others, said Hamoud Al-Harbi, official...
Electrical Industries Co. (EIC) stated that its subsidiaries, WESCOSA and Saudi Transformers Co., signed today, March 31, agreements worth SAR 158 million with Saudi Electricity Co. (SEC), according to a filing to Tadawul. Under the agreements, EIC, through its subsidiaries, will...
Insurance companies operating in the marine insurance sector are closely monitoring the Red Sea developments, to adjust pricing strategies and risk management practices when needed, Al Eqtisadiah newspaper reported, citing Adel Al-Issa, spokesperson for insurance companies in Saudi...
ACWA Power Co. signed a Power Purchase Agreement (PPA) that falls under the Public-Private Partnership law in Uzbekistan with the National Electric Grid of Uzbekistan for Nukus2 200 MW wind power project along with Battery Energy Storage System (BESS) to be set up in the Republic of...
Lumi Rental Co.’s market share in Saudi Arabia increased from 7% in 2021 to range currently between 9% to 10%, CFO Sulaiman Alrasheed told Al-Eqtisadiah newspaper. The company' generates 35% of its revenue from car leases, 33.5% from short-term rentals, while the sale of used cars represents ...
Riyadh Air will announce a deal to expand its fleet size in the near future, Osamah Al-Nuwaiser, Vice President of Marketing and Corporate Communications at Riyadh Air, revealed Expanding and diversifying Riyadh Air’s fleet and integrating it with aircraft from other companies is ...
The Ministry of Finance has published the Kingdom of Saudi Arabia Green Financing Framework in one of the Financial Sector Development Program initiatives, to drive the Kingdom toward sustainability and net zero emissions through the Circular Carbon Economy approach.The framework also highlights...
The General Authority for Statistics (GASTAT) issued today the Foreign Direct Investment (FDI) statistics for Q4 of 2023, which show that the net flow of FDI in Saudi Arabia amounted to over SAR13 billion, an increase of 16.0%, or SAR11 billion, compared to Q3 of the same year.Total FDI in the...
Red Sea Global Co. (RSG) is gearing up to receive its first international flight to Red Sea International Airport (RSI). Operated by flydubai, the flight will arrive from Dubai International (DXB) on April 18, marking the start of a new twice-weekly route to The Red Sea...