SEC, Emaar Economic City sign agreements
RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two...Business Energy
PIF of Saudi Arabia unveils LIV Golf Investments
Public Investment Fund of Saudi Arabia has unveiled LIV Golf Investments and hand-picked former world champion Greg Norman to lead...The new events will be staged from 2022 across Europe, the Middle East and Asia in a move designed to help bolster the sport
LIV has created 10 new events to be staged annually on the Asian Tour over the next decade with $200 million of backing
Half million visitors to Saudi pavilion at Expo 2020 Dubai
The total number of visitors to the Saudi pavilion exceeded 30 percent of Expo 2020 Dubai's total number of visitors.The visitors are said to have been from various Arab and foreign nationalities
High-level diplomatic delegations from various countries also visited the pavilion
Saudi submits bid to host World Expo 2030 in Riyadh
Russia, the Republic of Korea, Italy and Ukraine are other four countries that have submitted bids for the event in...Crown Prince Mohammed Bin Salman proposes “The Era of Change: Leading the Planet to a Foresighted Tomorrow” as the theme for the event.
The Expo 2030 in Riyadh would coincide with the culmination of the Saudi Vision 2030, the Crown Prince's letter said.
Oil giant Saudi Arabia sees opportunity in climate crisis
Not only is the kingdom ramping up oil production, it is also making a major play for the trillion-dollar emerging...Saudi Arabia has promised to go carbon-neutral by 2060 and pledged more than $1 billion for circular carbon economy initiatives.
Experts say Saudi Arabia has a strong stake in blue and green hydrogen production, solar production and in solutions in carbon capture and storage.
Damac board okays Maple buy
Maple is wholly owned by Damac ex-chairman Hussain Sajwani.Damac said its board of directors, other than Sofyan Al Khatib, had reviewed the expert advice on the deal
It had appointed KPMG as an independent valuer, Arqaam Securities LLC as financial advisor, and Al Tamimi & Company as its legal advisor
Saudi index ends week down 0.4%, Qatar up 1.2%
In the UAE, the Abu Dhabi index added 0.2% with the International Holding Company gaining 0.7%. Dubai index ended the...Dubai’s main index fell on Wednesday by 0.1%, affected by a 4.2% drop in the stock of logistics company Aramex.
Aramco's share price rose 0.8 percent to US$ 10.05, its highest close since December 2019.
Saudi Arabia, Spain agree to build sustainable tourism
Saudi Arabia’s efforts to redesign the future of tourism accelerated this week with a string of major initiatives in Riyadh...Saudi Arabia’s efforts to redesign the future of tourism accelerated this week with a string of major initiatives in Riyadh this week
Saudi puts tourism on the global stage for the first time at FII 2021, launching the Principles for Redesigning Tourism
Dubai saw $1.33bn real-estate transactions over the week
The Business Bay came on top in terms of volume and value, recording 155 transactions worth AED170 million ($46.29 million).A total of 174 plots were sold for AED920.4 million ($250.51 million) this week
The week also saw 1,080 apartments and villas sold for AED2.18 billion ($590.60 million)
Amazon quarterly profit slips
The company said its sales climbed to $110.8 billionThe e-commerce colossus said its sales climbed to $110.8 billion, but its profit was about half of its net income from the same quarter last year
Microsoft, Google parent Alphabet and scandal-hit Facebook have posted whopping profits this week
GlobalFoundries makes its market debut on Nasdaq
The IPO comes at a time when demand for semiconductors and microchips is red hot due to the ongoing global...Earning a valuation of $26 billion, the GlobalFoundries IPO is one of the biggest stock market debuts of the year in the US
The chipmaker had earlier announced the pricing of its initial public offering of 55,000,000 ordinary shares
