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Fahad Al-Saif will maintain his current position as Head of the Global Capital Finance Division.
Fahad Al Saif appointed as PIF’s new Head of Investment Strategy & Economic Insights
RIYADH — The Public Investment Fund (PIF) has announced the appointment of Fahad Al-Saif as the new Head of the Investment Strategy & Economic Insights Division, effective immediately.Al-Saif will also maintain his current position as Head of the Global Capital Finance Division.In his expanded role, Al-Saif will be instrumental in shaping PIF’s investment strategy and addressing market trends, with a particular focus on sustainability and achieving net zero targets. His responsibilities will include leveraging advanced economic research and analytics to support strategic decision-making at the highest levels of PIF leadership.As the continuing Head of the Global Capital Finance Division, Al-Saif will oversee PIF's financing activities, which encompass capital finance strategy...
July 23, 2024

Fahad Al Saif appointed as PIF’s new Head of Investment Strategy & Economic Insights

Hassana and Dar wa Emaar sign MoU to develop 1.2 million sqm real estate project in Riyadh
Hassana Investment Company (Hassana) signed a Memorandum of Understanding (MoU) with Dar wa Emaar Real Estate Investment & Development Company (DWE) to develop a 1.2 million square meter real estate project in the Al Qadissiyah district of North Riyadh.This collaboration, a strategic partnership built on mutual strengths, will focus on master planning, infrastructure development, public amenities, and potentially developing anchor real estate assets.The development will accommodate up to 4,000 modern residential units and provide a total retail built-up area of approximately 100,000 square meters.The residential-focused master plan development will offer quality residential, educational, entertainment, and retail spaces to meet the growing needs of modern Saudi families. It also creates...
July 21, 2024

Hassana and Dar wa Emaar sign MoU to develop 1.2 million sqm real estate project in Riyadh

HONOR launches the HONOR 200 Series in Middle East region, unveils the future of AI portrait photography
HONOR, the global technology brand, launched regionally yesterday the all-new HONOR 200 Series at a spectacular launch event in Dubai. The series introduces two cutting-edge models, the HONOR 200 Pro and HONOR 200, promising to reshape the smartphone experience & portrait photography with a range of advanced AI features across camera, chipset, display, user interface and powerful capabilities in a sleek design. The HONOR 200 Series will be available in UAE, KSA, Iraq, Oman, Qatar, Kuwait, Jordan with a later rollout expected in South Africa.The event revolved around the concept of taking off on a journey to "HONOR AI World," where guests were invited to discover the latest advancements in AI portrait photography on the HONOR 200 Series. They engaged in interactive zones and...
July 18, 2024

HONOR launches the HONOR 200 Series in Middle East region, unveils the future of AI portrait photography

Kaden signs strategic partnership agreement with DB Schenker to expand in Saudi market through logistics projects
Kaden, a real estate development and property management company, announced the signing of a strategic partnership agreement with the German company DB Schenker, a global leader in logistics and transportation solutions. The signing ceremony took place at Kaden’s headquarters in Riyadh, attended by Kaden’s CEO, Engineer Mohammad Al-Othman, and Ako Djaf, Vice President of Contract Logistics and SCM at DB Schenker in the Middle East and Africa.The aim of this agreement is to expand in the Saudi market in the field of logistics services, including the development of custom-designed warehouses to meet the operational needs of DB Schenker. This collaboration follows Kaden’s successful investments in developing and operating various high-standard projects, known for offering international...
July 17, 2024

Kaden signs strategic partnership agreement with DB Schenker to expand in Saudi market through logistics projects

Strategic partnership between Saudi Awwal Bank and UnionPay International fuels Saudi Vision 2030 tourism drive
In a strategic step towards enhancing the digital payment ecosystem in the Kingdom, Saudi Awwal Bank, a leading bank in the Kingdom of Saudi Arabia, announced its strategic partnership with UnionPay, a world-leading payment network.This partnership marks a major milestone in increasing merchant UnionPay coverage. It will empower “SAB” to enable digital acceptance of UPI payments across physical stores, ATMs, and e-commerce platforms.Acceptance of UPI cards in the Kingdom will ease international tourists' and pilgrims' transactions using their cards on “SAB” POS and ATMs, followed by e-commerce later this year. This initiative aligns with the nation’s goal of fostering a robust digital infrastructure and driving economic growth by accelerating the transition towards a...
July 16, 2024

Strategic partnership between Saudi Awwal Bank and UnionPay International fuels Saudi Vision 2030 tourism drive

OMODA Jaecoo Exhibiting Their EV & PHEV Technology at Riyadh Global EV & Mobility Technology Forum
The inaugural Global EV & Mobility Technology Forum, taking place from 10 to 11 July 2024 in Riyadh, is a premier event bringing together international policymakers, institutions, NGOs, corporations, companies, and startups with a focus on sustainable urban mobility solutions. The forum will delve into various critical topics, including sustainable transportation solutions, autonomous and internet-of-vehicle technologies, and infrastructure development such as charging stations. The forum aims to propel the industry towards smarter, more environmentally friendly, and convenient directions, promising profound implications for future transportation and mobility. Mr. Sheldon from OMODA Jaecoo participated in the public speaking forum on both days, discussing the potential use of technology in...
July 14, 2024

OMODA Jaecoo Exhibiting Their EV & PHEV Technology at Riyadh Global EV & Mobility Technology Forum

Amazon.sa reveals epic deals exclusive to Prime members during longest Prime Day ever in Saudi Arabia
Amazon.sa is gearing up to release thousands of incredible deals for its longest Prime Day sale event ever in Saudi Arabia from July 16 until July 21, offering exceptional value exclusively to Prime members. For the first time, Prime members will enjoy six full days of Prime Day deals and savings across over 30 product categories, including electronics, gaming, fashion, beauty, kitchen, home, health, sports, and Amazon Devices. It’s not too late to join Prime for only SAR 16/month or SAR 140/year at Amazon.sa Prime to access Prime Day and enjoy year-round benefits of membership, such as unlimited free and fast local and international delivery options and access to Prime Video and Prime Gaming. Prime members in Saudi Arabia will also be able to shop a wider selection of deals across...
July 12, 2024

Amazon.sa reveals epic deals exclusive to Prime members during longest Prime Day ever in Saudi Arabia

Aljomaih-led consortium achieves financial close for 3.96 GW Taiba-2 and Qassim-2 power projects in Saudi Arabia
Aljomaih Energy & Water Company, a leading Saudi investor, developer, and operator of utilities and infrastructure projects, along with its consortium members Ajlan & Bros Group, Buhur for Investment Company, and the EDF Group, are pleased to announce the achievement of the financial close of the Taiba-2 and Qassim-2 Combined Cycle Gas Turbine (CCGT) power projects with a total capacity of 3.96 GW, in the Kingdom of Saudi Arabia.The two projects have been financed through a combination of equity bridge financing and senior debt, secured by Riyad Bank, Saudi Awwal Bank, Abu Dhabi Commercial Bank, Banque Saudi Fransi, Arab Petroleum Investment Corporation (APICORP), Saudi Investment Bank, Bank Al Jazira, Commercial Bank of Dubai, and First Abu Dhabi Bank, for the approximate value of USD 3.9...
July 12, 2024

Aljomaih-led consortium achieves financial close for 3.96 GW Taiba-2 and Qassim-2 power projects in Saudi Arabia

The Saudi market receives the wonderful new Haval Jolion Pro
Automotive Distribution & Marketing Co. Ltd (ADMC), the authorized dealer for Great Wall Motor (GDM), officially launched the new Haval Jolion Pro model in the Saudi market during a ceremony held for this occasion at the company's main showroom on the Madinah Road in Jeddah. The event was attended by officials from GWM and ADMC Company and received widespread media coverage.The new Haval Jolion Pro is equipped with a 1.5-liter, four-cylinder engine with a turbocharger. This engine produces 148 horsepower and 220 Newton-meters of torque. The engine's power is transmitted to the front wheels through a 7-speed dual-clutch automatic transmission. The engine is characterized by smooth performance and fuel-efficient operation, with a fuel consumption rate of 13.7 km/liter.Julian Pro...
July 11, 2024

The Saudi market receives the wonderful new Haval Jolion Pro

Rapid digital transformation spurs need for technology-driven internal audit in Saudi Arabia
A new study by KPMG highlights the profound impact of rapid digital transformation and technological advancements, particularly in artificial intelligence (AI), on internal audit practices within the Kingdom.The report identifies several key technology risks that internal auditors must address. Data privacy concerns are paramount as organizations increasingly rely on big data, cloud computing, and AI, necessitating vigilant protection of corporate and personal data from cyber threats. Additionally, regulatory compliance is crucial, with new laws requiring Saudi-owned data to be stored within the Kingdom. Internal auditors play a critical role in ensuring adherence to these regulations.The rise of AI and open data platforms also poses significant risks to data privacy, requiring auditors to...
July 11, 2024

Rapid digital transformation spurs need for technology-driven internal audit in Saudi Arabia

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