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301 - 310 from 16519 . In "BUSINESS"
Lubna Olayan, Chair of SAB.
Saudi Awwal Bank records SR4.1 billion net profit after zakat and income tax for 1H24, marking a 23% increase from 1H23
Saudi Awwal Bank (SAB) announced on Monday the Bank’s financial results for the period ending on June 30, 2024.In the first half of 2024, SAB demonstrated robust financial performance, with a net profit of SR4,061 million after Zakat and Income Tax, marking a 23% year-on-year increase. The bank's total operating income also grew year-on-year by 10%, reaching SR6,939 million. Lubna Olayan, Chair of SAB, commented: "I am delighted to report another period of strong financial performance for SAB. Our H1 2024 results demonstrate the success of our transformation strategy and our ability to deliver sustainable growth."She further added: “Our loan growth has been remarkable, outpacing the market with substantial increases in our corporate and retail sectors. Our corporate...
August 05, 2024

Saudi Awwal Bank records SR4.1 billion net profit after zakat and income tax for 1H24, marking a 23% increase from 1H23

World-class falcon auction on Monday in Riyadh: Top breeds from across the globe
The Saudi capital, Riyadh, is set to become the hub of the falconry world as it prepares to organise the 2024 International Falcon Breeders Auction. The event, endorsed by the Saudi Falcons Club, kicks off on Monday, and will run until August 24th at Riyadh Exhibition & Convention Center in Malham, north of Riyadh.This year's auction, the largest of its kind globally, will bring together more than 35 leading breeders from 16 countries across the world. Over 20 days, falcon enthusiasts and breeders will have the opportunity to view and bid on some of the world's most elite falcon breeds.The auction has established itself as an international platform where falconers and breeders converge annually. This gathering reflects the Saudi Falcons Club's ongoing efforts to preserve the...
August 04, 2024

World-class falcon auction on Monday in Riyadh: Top breeds from across the globe

Saudi National Bank reports SR10.3 billion net profit in first half of 2024
RIYADH — Saudi National Bank (SNB) announced a net profit increase to SR10.3 billion at the end of the first half of 2024, reflecting a 2.3% growth compared to the corresponding period in 2023.On a quarterly basis, SNB's net profit for the second quarter of 2024 rose by 4.3% to SR5.2 billion compared to the same quarter in 2023.SNB attributed the increase in net profits during the first half of 2024 to a 3.6% rise in total operating income, reaching SR17.9 billion. This growth was driven primarily by a 5.0% increase in net special commission income and an 8.7% increase in fees from banking services.Total assets grew by 4.9% to SR1,088 billion during the period compared to December 2023.This growth was mainly due to a 5.9% increase in financing, driven by a 4.1% growth in retail,...
August 04, 2024

Saudi National Bank reports SR10.3 billion net profit in first half of 2024

Darco Real Estate launches SR485 million project in Jeddah's waterfront
Darco Real Estate Company has announced a SR485 million project in the Al Shati district of Jeddah in collaboration with SEDCO Capital and Sahem Financial Platform, following approval from the Capital Market Authority for the "SEDCO Capital Darco Al Shati Fund" as a private closed offering that will bid SR65 million worth of investment units through Sahem, with a commitment of SR35 million of in-kind and cash contribution from Darco.The project will span approximately 20,000 square meters over a waterfront area in Jeddah, featuring 28 buildings with over 500 residential units, 600 parking spaces, and an assortment of recreational and sports facilities.The fund aims for significant capital gains from selling these units after 30 months to a variety of buyers including direct...
August 02, 2024

Darco Real Estate launches SR485 million project in Jeddah's waterfront

Intel boss Pat Gelsinger said the firm had to fundamentally change how it operates
Intel axes 15,000 jobs as stock markets slide
NEW YORK — US chip maker Intel has said it plans to cut more than 15,000 job cuts as it seeks to revive the business and catch up with competitors.Shares in the company plunged by up to 20% after it announced the measures, and also reported falling sales.The news from Intel also hit other shares in other tech giants, and contributed to a sharp fall in Asian stock markets.Japan's Nikkei share index closed down 5.8%, the largest percentage fall since March 2020 at the start of the pandemic, with Japanese tech firms among the biggest losers.The Nikkei ended the day down 2,216.63 points at 35,909.70, the second-biggest points drop in its history, with worries about the strength of the US economy also affecting stocks.A downbeat survey of US manufacturing firms triggered fears the economy...
August 02, 2024

Intel axes 15,000 jobs as stock markets slide

Grand launch of OMODA&JAECOO in Riyadh: Ushering in a new era for personalized car brands in Saudi Arabia
On July 29th, OMODA&JAECOO held a grand brand launch event at the Fairmont Hotel in Riyadh, Saudi Arabia. The event attracted over 250 renowned local media and industry KOLs and received significant attention from the Ministry of Investment and the Ministry of Energy of Saudi Arabia. Several high-ranking government officials were present to witness this important moment of OMODA JAECOO launch. The event commenced with a dazzling light show, and digitalHologram host made a surprise appearance to host the live event. This innovative approach not only provided a stunning visual and auditory experience for the audience but also showcased OMODA&JAECOO's commitment to future technology and fashion trends. OMODA&JAECOO comprise two series: OMODA and JAECOO, targeting new generation...
July 31, 2024

Grand launch of OMODA&JAECOO in Riyadh: Ushering in a new era for personalized car brands in Saudi Arabia

Saudi Awwal Bank becomes first bank in Saudi Arabia to receive Local Content Certificate
Saudi Awwal Bank, one of the leading banks in the Kingdom of Saudi Arabia, has become the first bank in the country to have received a ‘Local Content Certificate’ from the Local Content & Government Procurement Authority (LCGPA).The achievement reflects “SAB's” dedication to fostering local development and supporting the Saudi Vision 2030 for sustainable growth. It is part of the bank's efforts to stay in tune with global standards on environmental, social, and governance (ESG) practices.Regarding the recognition, Ghada AlJarbou, Chief Operating Officer at SAB, said: "Obtaining this certificate is an excellent achievement. As it reflects the bank’s commitment to persistently improving performance across all its areas to reach its strategic goals and contribute...
July 30, 2024

Saudi Awwal Bank becomes first bank in Saudi Arabia to receive Local Content Certificate

Petromin Foton launches TUNLAND V with hybrid power system in Saudi Arabia
Petromin Foton has launched the TUNLAND V pickup truck in the Saudi market, the first of its kind to operate on a hybrid power system. This marks a significant leap in the world of commercial vehicles and multi-purpose vehicles.This model reinforces the company's commitment to innovation and sustainable development in the automotive sector, offering an exceptional driving experience that combines powerful performance with high efficiency. The TUNLAND V is a smart pickup that elevates individuals' lifestyles to the highest levels of power, safety, and comfort simultaneously.The TUNLAND V from Foton combines the latest advanced technological innovations with a front double suspension and a rear multi-link suspension, designed to meet the demands of strong off-road performance and...
July 30, 2024

Petromin Foton launches TUNLAND V with hybrid power system in Saudi Arabia

This positive shift demonstrates growing consumer confidence in Saudi Arabia's economic direction.
Consumer sentiment in Saudi Arabia shows positive trends: Ipsos report
Saudi Gazette reportRIYADH — The latest Ipsos Primary Consumer Sentiment Index (PCSI) for Saudi Arabia, released in May 2024, indicates an overall positive consumer outlook, reflecting strong confidence in the country's economic future.The PCSI for May 2024 stands at 72.7, slightly up from 71.9 in April. This positive shift demonstrates growing consumer confidence in Saudi Arabia's economic direction. A significant 95% of respondents believe that the country is heading in the right direction. This is one of the highest confidence levels globally, surpassing major economies like China (91%) and India (78%).When asked to rate the current state of the local economy, 73% of respondents rated it as strong, and 24% as neither strong nor weak. Looking ahead, 87% expect the economy to be...
July 29, 2024

Consumer sentiment in Saudi Arabia shows positive trends: Ipsos report

TCL unveiled lifestyle festival: The first POP-UP event, the best place to chill with family this summer
TCL Electronics, the world's Top 2 TV brand and Top 1 98-inch TV brand, proudly announced the TCL Lifestyle Festival, the first-ever POP-UP event in the Kingdom of Saudi Arabia. Held from July 25-31, 2024, at Cabo Coffee in City Yard, Jeddah, this event was positioned as the ultimate summer destination for families seeking comfort, entertainment, and innovative home solutions.As summer temperatures soared, homeowners looking to upgrade their air conditioning systems found their answer in TCL. Renowned for its innovative cooling solutions, TCL stood out as the premier choice for creating a comfortable and refreshing home environment. TCL invited attendees to "Relax and Breathe with TCL" at the TCL Lifestyle Festival, the ultimate destination to chill and experience the breeze...
July 26, 2024

TCL unveiled lifestyle festival: The first POP-UP event, the best place to chill with family this summer

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