ABU DHABI, UAE - The International Holding Company (IHC) announced the initiation of the transfer of 2PointZero, a next generation holding company comprising several diverse and dynamic companies, to IHC. Spanning multiple sectors, business combinations of entities under common control, have been combined to form 2PointZero, boasting an impressive asset...

Riyadh, Saudi Arabia--The Public Investment Fund (PIF) and Hyundai Motor Company (Hyundai) have signed a joint-venture agreement to establish an automated vehicle manufacturing plant in Saudi Arabia. PIF will hold a 70% stake in the new joint venture with Hyundai holding the remaining 30%. Hyundai will also act as a...

TEHRAN, IRAN  – The foreign minister of Qatar said the procedures for the transfer of Iran’s unfrozen foreign assets to Qatari banks will be finalized within the next week. Qatari Foreign Minister Sheikh Mohammed Bin Abdulrahman al-Thani made the comments in a telephonic conversation with his Iranian counterpart Hossein Amirabdollahian...

Tehran, Iran--Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to the Islamic Republic of Iran, the bank announced on Thursday. The service is available to both individuals and businesses using their Sber accounts, according to the bank.   “The money transfer service...

From Cristiano Ronaldo to Neymar, the kingdom is offering eye-watering salaries to international football stars to bring them over from clubs across Europe.

Abu Dhabi, UAE--The UAE has applauded the UN for the successful unloading of oil from the deteriorating tanker, FSO Safer, situated off Yemen's coast in the Red Sea. The Ministry of Foreign Affairs (MoFA) lauded the collective efforts of the United Nations, its Secretary-General Antonio Guterres, the Coalition to Restore...

The contracts are valid for 20 years, said Saudi Catering.

Tehran, Iran-- With the restoration of diplomatic ties between Iran and Saudi Arabia, the talk in government circles in Tehran is now focused on cooperating with Riyadh on peaceful nuclear technologies. A hint of the potential cooperation between the two former adversaries came in a tweet by a media outlet...

Firm to transfer it equity interest to JV partner Sollers.

Welcoming the report brought out by the UN Independent International Commission of Inquiry, the Arab League has praised the efforts and the findings of the report, documenting Israeli violations against Palestinians, and holy sites in the occupied Palestinian territories.

Moody's has termed the share transfer of Saudi Arabia’s Aramco to the Public Investment Fund as credit positive as it increases the fund’s assets under management. 

A total of 18,068 transfers were registered, against 17,190 in 2020, a rise of 5 percent. The top 10 transfers alone generated almost 15 percent of the total spending while the vast majority of moves — nearly 88 percent — involved free transfers, suggesting cash-strapped clubs were looking for bargains.

In a wide crackdown against offenders violating various laws of the kingdom, Saudi Arabia has arrested 16,000 people for contravening residency, work, and border security systems in the last five days.