Over 12m people visit Riyadh Season in 60 days
RIYADH, SAUDI ARABIA - Two months after their launch, on October 11, 2023, Riyadh Season events had already attracted 12...Arts & Culture Business Tourism
Adnoc Drilling to offer 7.5% stake in IPO
Adnoc Drilling is the largest national drilling company in the Middle East by rig fleet size.Adnoc retains the right to increase the size of the offering at any time before pricing of the IPO
It will continue to own a majority of Adnoc Drilling’s share capital after the IPO
Emaar Properties and Emaar Malls get nod for merger
The proposed merger of Emaar Properties and Emaar Malls received a boost when the capital market regulator, Securities & Commodities...The proposed merger still requires shareholder approval
As per the proposal, the existing business of Emaar Malls will be reconstituted in a wholly owned subsidiary of Emaar Properties
South Korea mulls reviving FTA talks with GCC
The two sides have not had a mutual FTA for more than 10 years now.South Korea and the GCC agreed to negotiate an FTA in 2007, but talks have been stalled since 2009
Now, Korean Trade Minister Yeo Han-koo will soon meet his UAE counterpart Thani Al-Zeyoudi virtually in this regard
Boursa Kuwait launches ESG reporting guide
Through it, the bourse aims to drive the embrace of Corporate Sustainability in the Kuwaiti capital market.The guide will introduce the ESG universe to companies listed on the stock exchange
It will also highlight the benefits of ESG disclosure and best practices
Zamil Industrial unit wins AC deal
The contract is to supply AC systems to Saudi schools.Zamil Industries unit Zamil Air Conditioners has got the contract from Tatweer Buildings Company
The contract is worth SAR44.1 million ($11.7 million)
Emaar EC eyes $3bn capital hike
Its board of directors has okayed a 33% hike in its capital.Emaar EC will now put the approval plan to shareholders' vote
This will happen at the extraordinary general meeting to be held on September 12
Aramco rebar facility opened
IKK Mateenbar will produce non-corrosive fiberglass rebar.New corrosion-free material could support the kingdom in achieving its carbon neutrality targets.
Extreme temperatures and high levels of salinity make the kingdom one of the most corrosive environments for steel rebar.
‘Transparency key to success for corporates in MENA’
Good corporate governance and best practices have been driving the shift in the regional market, says Jamal Fakhro, Managing Partner...Regulators across sectors are proactively evolving national laws and regulations to ensure that businesses perform as responsible stewards in the market, says Jamal Fakhro
Majority of businesses in the region which have adopted corporate accountability and transparency are driving the shift in the market, adds the Managing Partner at KPMG Bahrain
American falcon sells for $467,000 in Saudi auction
The falcon was 16.5 inches both long and wide, and weighed 980 grams.An ultra-white Gyr Qarmousha Falcon, less than a year old, was sold for SAR1.75 million (around $467,000)
It came from a noted international breeding facility called the Pacific Northwest Falcons farm, located in the US
1.8 million Saudis employed under Nitaqat program
Nitaqat is a nationalization scheme implemented, which requires Saudi companies to fill up their workforce to certain levels with Saudi...About 1.6 million establishments in the Saudi employment market are registered under the program.
Under Updated Nitaqat, the number of economic activities will be reduced to 32 from 85.
