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711 - 720 from 16533 . In "BUSINESS"
Children play basketball in front of a housing complex by Chinese property developer Evergrande.
Evergrande: Shares in the crisis-hit Chinese developer plunge by 80%
BEIJING — Shares in embattled Chinese developer Evergrande have fallen by around 80% as they started trading in Hong Kong for the first time in a year and a half.The shares have lost more than 99% of their value in the last three years as Beijing cracked down on property firms.Evergrande is at the center of a real estate market crisis threatening the world's second-largest economy.On Sunday, the firm posted a 33bn yuan ($4.5bn; £3.6bn) loss for the first six months of the year.However, that was an improvement on the 66.4bn yuan loss it reported for the same period a year earlier.The company's "directors have taken a number of measures to improve the liquidity position and financial position of the group," Evergrande said in a filing to the Hong Kong Stock Exchange.The...
August 28, 2023

Evergrande: Shares in the crisis-hit Chinese developer plunge by 80%

stc group officially begins operation in Europe
stc Group, an engine of digital transformation in the MENA region, announced that its subsidiary TAWAL has officially began operations in Europe.The announcement follows the completion of TAWAL’s acquisition of United Group’s telecom tower assets in Bulgaria, Croatia, and Slovenia on April 25th , 2023 as part of stc group strategy to expand and grow, and after obtaining all the necessary approvals from the related regulatory organizations.TAWAL now owns and operates over 4,800 sites across Bulgaria, Croatia and Slovenia, providing operation services to its new clients in these countries. This acquisition represents the second step of TAWAL’s expansion plan following the launch of TAWAL Pakistan in 2022. The total towers portfolio of TAWAL is now exceeding 21,000 towers across five...
August 27, 2023

stc group officially begins operation in Europe

KPMG: Robust data protection in Saudi Arabia can shield companies from hefty fines
A new paper by KPMG, a leading professional services provider, provides timely recommendations to businesses in Saudi Arabia about what they can expect from the implementation of the new Personal Data Protection Law (PDPL) in Saudi Arabia, and help them avoid potential pitfalls, penalties and reputational damage.The much-anticipated new law was published in the Official Gazette on 24 September 2021. Following a recent announcement, PDPL will be formally active from 14 September 2023, marking a significant milestone in the Kingdom's commitment to privacy.The Saudi Data & Artificial Intelligence Authority (SDAIA), the presiding regulatory authority of PDPL, has granted businesses a one-year grace period starting from the law's enforcement date. This grace period, extending until 14...
August 27, 2023

KPMG: Robust data protection in Saudi Arabia can shield companies from hefty fines

Hankook Racing team won the bronze in 'Hill Climb Racing'
The Saudi Hankook Racing team, led by Captain Saeed Al-Mouri, achieved third place in the second round of the 2023 season of Hill Climb Racing Championship organized by the Saudi Automobile and Motorcycle Federation in Al-Baha, south of the Kingdom, with the participation of 55 competitors from various categories.Saeed Al-Mouri participated in the race with a Radical SR3 car equipped with Hankook F200 tires. He continued to compete strongly until the end of the race, which was characterized by difficult terrains on the race track. The Saudi Hancock racing team has strong chances in competing for the top position at the end of the rounds of this series of races, which attracts great interest from racers from inside and outside the Kingdom.On this occasion, Captain Saeed Al-Mouri explained...
August 24, 2023

Hankook Racing team won the bronze in 'Hill Climb Racing'

Russian President Vladimir Putin delivers his remarks virtually at the 2023 BRICS Summit in Johannesburg on August 24.
Saudi Arabia and UAE among six countries invited to join BRICS group
JOHANNESBURG — Saudi Arabia and the United Arab Emirates have been invited to become members of the BRICS group of developing nations in its first expansion in over a decade.Also joining next year will be Iran, Egypt, Ethiopia and Argentina, South African President Cyril Ramaphosa said Thursday as he wrapped up the annual summit of the group in Johannesburg.All the countries invited had already expressed an interest in joining.“The membership will take effect from the first of January, 2024,” Ramaphosa said.The group currently includes Brazil, Russia, India, China and South Africa.In a video message, Russian President Vladimir Putin congratulated the new BRICS members, adding that the bloc’s global influence would continue to grow.“I would like to congratulate the new members who...
August 24, 2023

Saudi Arabia and UAE among six countries invited to join BRICS group

Thabat Real Estate Development Co. announces its participation in the upcoming Cityscape Global 2023
Under the auspices of the Ministry of Municipal, Rural Affairs and Housing and the organization of the Tahaluf Company, “Thabat Real Estate Development Company” is participating in the first Saudi edition of the largest real estate sector exhibition in the world, Cityscape Global 2023. The event will be held for four consecutive days at the Riyadh International Convention & Exhibition Center, in Malham, north of Riyadh, from September 10 to 13, under the theme "The Future of Living". Regarding participation in the event, “Thabat Real Estate Development” along with the work team expressed its aspiration to meet the visitors and participants of the exhibition. It highlighted that it is an excellent opportunity to showcase the company's high-quality residential and...
August 23, 2023

Thabat Real Estate Development Co. announces its participation in the upcoming Cityscape Global 2023

Modern living experiences await guests in the heart of Jeddah
Boasting remarkable properties in Jeddah, world-renowned hospitality group Accor invites guests to experience elevated living at Adagio Malik Road, Adagio Jeddah City Center and Swissôtel Living Jeddah. With sleek designs and modern furnishings, properties provide seamless, serviced accommodations available for short- and long-term stays catering to both business and leisure travellers. From Adagio, a market leader in the extended stay segment to the innovative premium offerings of Swissotel Living, guests are set to experience the renowned services of hotels with the independence and freedom of the apartments.Embracing the spirit of residential living, Paul Stevens – Accor’s Chief Operating Officer, Premium, Midscale & Economy Division, Middle East, Africa & Türkiye adds, “Our...
August 22, 2023

Modern living experiences await guests in the heart of Jeddah

Jochen Bischoff, Head of Consumer Business Partnerships MENA – Global Business Solutions at TikTok
For Saudis, the new automotive showroom is digital
Digital platforms serve communities with entertaining ways to gain knowledge of vocations and passions. TikTok has played a decisive role in moving education to edutainment. The automotive industry is a sector that has been leveraging this phenomenon more and more. Serving relevant and in-depth content on new models, tests, technologies, or offers, TikTok's Auto community inspires potential buyers in the complex purchase decision of a vehicle; a decision that can take up to six months. TikTok's #saudicars and #سيارات-السعودية hashtags have gathered over 51 million views combined.Building a community and adopting a two-way communication model is the most effective way to humanize brands. The Automotive industry has realized that greater interaction with consumers is...
August 22, 2023

For Saudis, the new automotive showroom is digital

Former Bank of England governor Mark Carney
Former Bank of England boss to head Bloomberg board
NEW YORK — Former Bank of England governor Mark Carney has been named chairman of a new board of directors at US financial information and media firm Bloomberg.Bloomberg's head of product Vlad Kliatchko was also appointed as chief executive officer in the major shakeup of the company's management.The BBC understands the firm's founder, 81-year-old Michael Bloomberg, made the announcement in an email to staff.Carney has previously worked with Bloomberg on climate-related projects.Kliatchko's promotion comes as speculation has been growing about succession plans at the company.The reshuffle will see more new board members being appointed "in short order", while existing members will be given honorary positions.Bloomberg's email — which was first reported by...
August 22, 2023

Former Bank of England boss to head Bloomberg board

LuLu’s new hypermarket underscores expansion and investment of group in KSA
LuLu Hypermarket today opened its 33rd outlet in the Kingdom of Saudi Arabia in the strategic and historic Hafar Al Batin in the Eastern Province. The grand yet practical store is spread across one level of more than 120,000 square feet in the Al Othaim Mall, and promises to be a shoppers’ delight, complete with all the popular LuLu shopping touch-points such as grocery, fresh fruit, veg and fashion, making shopping a bountiful experience for shoppers.Prince Mansour bin Mohammed bin Saad, the governor of Hafar Al Batin Region inaugurated the store in the presence of Eng. Khalaf Hamdan Al Otaibi, Mayor of Hafar Al batin. The chief guests were welcomed by Yusuff Ali MA, Chairman and Managing Director of Lulu Group International and senior management. Yusuff Ali thanked the Saudi leadership...
August 22, 2023

LuLu’s new hypermarket underscores expansion and investment of group in KSA

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