RIYADH: Japan’s Mitsubishi Power is committed to supporting Saudi Arabia’s growing demand for energy to help it achieve the prosperity outlined in Vision 2030, according to a top official. Adel Al-Juraid, CEO of Mitsubishi Power in Saudi Arabia, shared profound insights into the company’s transformative journey in an interview with Arab News, offering a comprehensive overview … Read more
RIYADH: Saudi energy giant Aramco has awarded a $7.7 billion contract for a major expansion of its Fadhili Gas Plant in the Eastern Province. The company announced in a statement that SAMSUNG Engineering Co, GS Engineering & Construction Corp, and Nesma & Partners were the winners of the increment project contract for the gas plant. … Read more
Opening up financial sector and battling inflation key for Arab countries’ economic development: AMF RIYADH: Financial openness and tackling inflation played a significant role in the short-term financial development of Arab countries, a new study suggests. A recent analysis released by the Arab Monetary Fund examined the impact of economic freedom on the development of … Read more
RIYADH: Carbon markets are set to play a pivotal role in achieving climate goals, with efforts from Saudi Arabia and the UAE, paving the way for a smooth energy transition. According to a new report from the International Energy Forum, carbon markets are capable of effectively lowering the costs associated with greenhouse gas removal by … Read more
MOSCOW: Russian President Vladimir Putin on Saturday vowed to punish those behind the “barbaric terrorist attack” on a Moscow concert hall that killed more than 130, saying four gunmen trying to flee to Ukraine had been arrested. Kyiv has strongly denied any connection, with Ukrainian President Volodymyr Zelensky accusing Putin of trying to shift the … Read more
RIYADH: The Saudi capital finds itself in global competition with cities like New York and Tokyo for a skilled workforce, according to its mayor. With a population exceeding 7 million, the city is experiencing an ongoing transformation as it becomes a hub for attracting talent and boosting entrepreneurship. In an interview with Arab News at … Read more
Startup of the Week – supply chain platform Omniful aims to boost Saudi Arabia’s e-commerce space CAIRO: E-commerce and supply chain operations platform Omniful is aiming to significantly boost its presence in the Saudi market after a successful $5.85 million seed funding round. In an interview with Arab News, CEO and co-founder of Omniful, Mostafa … Read more
GAZA STRIP, Palestinian Territories: Israel said it had taken 100 people into custody at one of Gaza’s main hospitals Saturday after troops raided the facility, with fears mounting for patients and staff trapped inside.The deadly bombardment of Gaza continued overnight with another 100 people killed in Israeli strikes, according to the Hamas-run health ministry.At least … Read more
Cenomi Centers secures $1.39bn Shariah-compliant, sustainability-linked financing RIYADH: Saudi Arabia’s lifestyle and leisure sectors have been infused with SR5.25 billion ($1.39 billion) after mall operator Cenomi Centers secured financing for the “next generation” of retail experiences. The firm’s Shariah-compliant, sustainability-linked funding agreement with a syndicate of top-tier banks is set to deliver a new take on retail within the … Read more
Saudi Investment Ministry to maintain record of private sector’s foreign investments RIYADH: Saudi business landscape received a regulatory push as the Kingdom’s Ministry of Investment launched a new initiative to take inventory of private sector direct expenditures abroad. This move is part of a broader effort to support investors and companies in their global expansion … Read more