INSEAD Day 4 - 728x90

Sanad posts record revenue

Growth driven by global demand for services.

Bank of Sharjah profit up 39%

Bank's total assets grow 10% to $14.4 billion.

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

Chinese firm bags $974m Madinah tunnel project

Madinah is the first Arab city to receive this recognition. (Pic Visit Madinah)
  • Canada’s WSP and US-based Parsons are among consultants working on the project while Rua al-Madinah Holding is the client
  • Al-Amida road will serve as an alternative to the current ring road, through expanding the roadway to six lanes

Saudi Arabia has awarded the building of a five-kilometer-long tunnel in the city of Madinah to a Chinese construction firm, to be built at the cost of $974 million.

The project also involves the construction of a pedestrian bridge.

Al-Amida road will serve as an alternative to the current ring road, through expanding the roadway to six lanes, upgrading the Ali Bin Abi Taleb traffic tunnel and connecting Al-Amida to the King Faisal ring road.

Canada’s WSP and US-based Parsons are among consultants working on the project while Rua al-Madinah Holding is the client.

Saudi Arabia also witnessed a tunneling project in NEOM, in June, with contracts being awarded for the bored tunneling sections of The Line.