RIYADH: Excavation work on three components of the Riyadh metro project is set to begin following the signing of a SR722.1 million ($192.5 million) deal between Saudi Real Estate Co., also known as Al Akaria, and Diriyah Gate. The work will encompass areas known as Metro-Box Central, Metro-Box South, and Metro-Box East and the contract … Read more
RIYADH: Saudi Aramco’s domestic supply chain is poised for further improvement as it signed procurement agreements worth $6 billion with suppliers in the Kingdom. According to a press statement, these 40 procurement agreements were inked as a part of the company’s strategic localization program and are expected to strengthen the firm’s supply chain ecosystem and … Read more
RIYADH: Scientific research is set to strengthen in Saudi Arabia with the signing of 17 agreements with various entities, focusing on energy, water, and manufacturing sectors. King Fahd University of Petroleum and Minerals signed these deals, aiming to enhance the alignment of education and scientific research outputs with Vision 2030’s strategic developmental needs, as reported … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 94.52 points, or 0.78 percent, to close at 12,165.93. The total trading turnover of the benchmark index was SR10.61 billion ($2.83 billion) as 137 of the listed stocks advanced, while 77 retreated. Similarly, the MSCI Tadawul Index increased by 14.87 points, or 0.95 percent, … Read more
RIYADH: Senior Saudi officials have conducted multiple meetings with high-ranking representatives from various countries on the sidelines of the ongoing World Defense Show in Riyadh. Saudi Defense Minister Prince Khalid bin Salman met with his British counterpart Grant Shapps on Feb. 4 during the international forum, the Saudi Press Agency reported. The meeting, during which … Read more
RIYADH: Saudi Arabia’s sukuk and bond issuances rose 2.8 percent year on year in value by the end of the final quarter of 2023, reaching about SR758.8 billion ($202.34 billion), data issued by the Saudi Exchange showed. A recent Tadawul report attributed the growth to an increase in the listed sukuk and bonds issued by … Read more
RIYADH: Saudi Arabia’s drive for environment-friendly materials is set to gain momentum as oil giant Aramco is collaborating with the Kingdom’s premier research university to establish a technology consortium. The world’s most valuable company has formalized an agreement with the King Abdullah University of Science and Technology to create ENERCOMP, a new initiative will focus … Read more
RIYADH: Saudi entrepreneurs and startups in the fintech sector are set to receive a technological boost following an agreement signed between Fintech Saudi and US-based Kyndryl. This strategic collaboration, formalized through a memorandum of understanding, is designed to accelerate the adoption of advanced innovations in the Kingdom’s burgeoning fintech industry, according to a press note. … Read more
RIYADH: When Saudi Arabia launched its ambitious roadmap for economic diversification in 2016, there was too much skepticism over its outcome, as the Kingdom had been reliant on crude oil for several decades. Seven years later, the Vision 2030 blueprint has not only facilitated the rise of the Kingdom’s non-oil sector but also fired up … Read more
GENEVA: Saudi aid agency KSrelief and UNHCR, the UN Refugee Agency, signed two agreements worth $ 11 million to support refugees and internally displaced people in Yemen, Sudan and Chad. The first agreement granted a $7 million contribution for shelter and relief items to 14,000 displaced families, or around 84,000 individuals, affected by the crisis … Read more