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
RIYADH: Business conditions in the UAE non-oil private sector strengthened sharply in March, with optimism reaching its highest point in six months, as indicated by a survey. According to the latest S&P Global Purchasing Managers’ Index, the UAE’s PMI reached 56.9 in March, slightly lower than February’s 57.1 but well above the 50 mark denoting … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index closed at 12,656.94 points on Monday, marking a decrease of 139.15 points or 1.09 percent. Conversely, the parallel market, Nomu, concluded at 27,237.44, registering an uptick of 397.03 points or 1.48 percent. The MSCI Index descended by 20.19 points to settle at 1,592.39, a drop of 1.25 percent. … Read more
Saudi Haramain High Speed Railway gears up to transport 1.3m Umrah pilgrims during Ramadan RIYADH: The Haramain High Speed Railway has announced plans to operate more than 2,700 trips while providing seating capacity exceeding 1.3 million passengers to meet the increasing demand for transportation between Makkah and Madinah during Ramadan. Saudi Arabia Railways, in coordination … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index rose to gain 5.38 points, or 0.04 percent, to close Thursday’s trading session at 12,728.53. The total trading turnover of the benchmark index was SR14.36 billion ($3.89 billion) as 126 stocks advanced, while 93 retreated. The Kingdom’s parallel market, Nomu, rose 308.5 points, or 1.16 percent, to close … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 40.74 points, or 0.32 percent, to close at 12,618.62. The total trading turnover of the benchmark index was SR7.59 billion ($2.02 billion) as 151 of the stocks advanced, while 66 retreated. On the other hand, the Kingdom’s parallel market Nomu slipped 129.53 points, or … Read more
RIYADH: Transport, tourism and logistics are set to help the Gulf Cooperation Council region secure gross domestic product growth far above the lobal average, economists have told Arab News. Experts believe that a focus on non-oil trade by GCC governments is helping countries display economic resilience in the face of global disruptions, such as the conflict … Read more
Saudi Arabia named ‘most improved country overall’ in US Chamber of Commerce IP Index RIYADH: Saudi Arabia has received recognition as “the most improved country overall” in the 12th edition of the US Chamber of Commerce International Intellectual Property Index. Released on March 2, the report emphasizes the several achievements of the Kingdom, with Vice … Read more
RIYADH: Saudi Arabia’s dynamic business environment is continuously drawing attention from international companies, and now Estonian ride-hailing giant Bolt is looking to expand its operations in the Kingdom. Established in 2013, the company has become a prominent player in the global mobility industry, operating in 45 countries and 500 cities, with a current valuation of €7.4 … Read more
World leaders in business, finance and technology gather in Miami for city’s 2nd FII Priority Summit MIAMI: World leaders in business and finance are meeting in Miami this week to discuss potential solutions to the planet’s ongoing conflicts and climate change, as well as artificial intelligence. The second edition of the Future Investment Initiative Priority … Read more