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7391 - 7400 from 16533 . In "BUSINESS"
Al Jazirah boosts its share in Saudi market
AL-JAZIRAH Vehicles Agencies Company, the dealer of Ford Trucks in Saudi Arabia, announced the delivery of 100 units of 2019 model 6x4 Ford trucks to Saad Saeed Al-Saadi & Sons Company, a contracting, road construction and rock cutting company.A ceremony celebrating the delivery of trucks was held at the Arabian Metal Industries headquarters where the dumpers fitted on the trucks are manufactured. Once outfitted with their new dumpers, the trucks will be used in major road construction projects that will add around 1 million kilometers of new roads in various regions of the Kingdom.On this occasion, Mohammed Bin Abdullah Al-Kareedis, AJVA’s Deputy Chief Executive Officer, said “we are proud of our partnership with Saad Saeed Al-Saadi & Sons Contracting Company that saw the delivery of...
April 29, 2019

Al Jazirah boosts its share in Saudi market

Careem NOW expands its services into Riyadh
CAREEM NOW has expanded its delivery services to Riyadh, with over 100 restaurants and outlets available at launch.Careem NOW, which is already operational in Jeddah, is Careem’s expansion into the food-delivery market as the company expands its platform beyond ride-hailing.The launch will initially cover the areas Ash Shuhada, Ghirnatah, Al Izdihar, Al Mughrizat, Al Falah, Al Hamra, Al Yarmuk, Al Taawun, Qurtubah and Al Wadi, but is expanding rapidly across the city to offer deliveries to all areas.Over 100 restaurants and outlets are available to order from in Riyadh, including Hamburgini, Maestro Pizza, Kudu, Applebees, Fuddruckers, Marble Slab, Baskin-Robbins and Jan Burger. More outlets are being added every week, and to mark its launch Careem NOW is offering 50% off (up to SR30)...
April 29, 2019

Careem NOW expands its services into Riyadh

TAQA drilling subsidiary to buy Schlumberger’s Mideast drilling rigs arm
DAMMAM — Saudi Arabia’s Industrialization and Energy Services Company (TAQA) announced Sunday that its drilling subsidiary, Arabian Drilling Company (ADC), has agreed to acquire Schlumberger’s Middle East onshore drilling rigs business in Kuwait, Oman, Iraq and Pakistan for $415 million (SR1.56 billion). The transaction transforms ADC into a regional drilling leader with one of the largest rig fleets, client portfolios and geographic footprints in the Middle East. ADC, a drilling rig partnership between TAQA and Schlumberger, was established in 1964 through a royal decree.Through this expansion, ADC, Saudi Arabia’s current market leader and drilling national champion, will become an industry powerhouse, operating a superior fleet of 58 onshore rigs and 9 offshore rigs across the...
April 28, 2019

TAQA drilling subsidiary to buy Schlumberger’s Mideast drilling rigs arm

Facebook tops list of most popular stocks in 1st quarter
JEDDAH — “The fourth quarter of 2018 was not only destructive for share prices but also for earnings estimates across all of the world's major equity indices. But with the Fed’s historic pivot on monetary policy and improving data out of Asia, equity markets have shrugged off the carnage of Q4 2018. US equities have almost made a full comeback to last year’s all-time-high level with the S&P 500 only 2% from its September zenith. The drivers are monetary policy, optimism over a US-China trade deal, improving Asia macro figures and with the Q1 earnings season starting this week, maybe a fourth engine can be added to global equities,” said Peter Garnry, Head of Equity Strategy.Peter Garnry, Head of Equity Strategy, commented on the most traded stocks:• Facebook Inc. (+34...
April 28, 2019

Facebook tops list of most popular stocks in 1st quarter

King Abdulaziz Port
King Abdulaziz Port applies diversification strategy in handling goods, services
RIYADH — King Abdulaziz Port, the largest Saudi port on the Arabian Gulf, marks its successful story which dates back to over four decades ago. The comprehensive port is pioneering major industrial and economic developments. It has expanded from a small berth capable of accommodating only two ships and connected to a 13-kilometer monorail off the coast of Dammam, to a huge complex of ports, shipyards and warehouses. It is also a base for an integrated infrastructure of factories and facilities for various maritime and marine activities, just one kilometer from the heart of Dammam.Commenting on King Abdulaziz Port’s journey of growth and development, Eng. Walid F. Al Faris, Director General of King Abdulaziz Port, said "operations at King Abdulaziz Port have started four decades...
April 28, 2019

King Abdulaziz Port applies diversification strategy in handling goods, services

Ahmed Saud Ghouth
Alkhabeer Capital ranked as best workplace in Saudi Arabia
JEDDAH — Alkhabeer Capital, a prominent asset management company specializing in alternative investments, announced Sunday that it has been ranked as the best workplace in Saudi Arabia within the financial services sector by Great Place to Work. The company climbed three spots in the 2019 ranking to fifth overall in Saudi Arabia, compared to eighth in 2018.This is also the eighth consecutive year that Alkhabeer Capital has been recognized by the Great Place to Work Institute, making it one of the few companies that consistently ranks within the top positions. The ranking recognizes Alkhabeer Capital for the high level of trust, transparency and appreciation it enjoys among its employees, along with an exceptional workplace environment and cultureCommenting on this achievement, Ahmed Saud...
April 28, 2019

Alkhabeer Capital ranked as best workplace in Saudi Arabia

Mohammed Saif Al Suwaidi, Director General of ADFD, and Amna Mirgani Hassan, General Manager of the Capital Markets Department of CBOS, sign the agreement
ADFD to deposit $250m to CBOS
ABU DHABI — Under the directives of the UAE President Sheikh Khalifa bin Zayed Al Nahyan and Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, announced its plan to deposit $250 million into the Central Bank of Sudan (CBOS) to secure increased liquidity and strengthen the financial position of Sudan.The deposit falls within the framework of the newly announced $3 billion (AED11 billion) UAE-Saudi Arabia joint aid package for Sudan that has committed $500 million to CBOS, evenly split between the two countries.Mohammed Saif Al Suwaidi, Director General of ADFD, and Amna Mirgani Hassan, General Manager of the Capital...
April 28, 2019

ADFD to deposit $250m to CBOS

Experts discuss luxury tourism at symposium
SHARJAH — Industry experts and academics from the field of luxury tourism discussed important issues and developments pertaining to the field at the fourth AUS-Chalhoub Symposium held at American University of Sharjah (AUS) last April 25. The event, which focused on the topic of luxury tourism, was organized jointly by AUS and the Chalhoub Group and saw the participation of prominent industry leaders from within the UAE and abroad.Speaking at the opening ceremony of the event, Professor Kevin Mitchell, Acting Chancellor of AUS, said:“AUS benefits tremendously from the generosity of Mr. Patrick Chalhoub and the Chalhoub Group through their support of student scholarships and The Chalhoub Professorship of Luxury Brand Management. The AUS-Chalhoub Symposium is made possible by the...
April 28, 2019

Experts discuss luxury tourism at symposium

ATM 2019 registration
Saudi growing tourism sector under the spotlight at ATM ’19
DUBAI — Saudi Arabia’s growing tourism sector will be one of over 40 key travel and tourism trends under the spotlight on Arabian Travel Market’s Global Stage - as more than 100 experts from across the spectrum of global hospitality gear up for three more days of interactive discussions, keynotes and industry briefings.The Kingdom will see a vast expansion of its hotel and resort inventory during 2019, with approximately 9,000 keys of three- to five-star international supply projected to enter the market despite major cities such as Riyadh and Jeddah experiencing an overall drop in ADR during 2018.While this new supply will place additional competitive pressure on hotels’ performance across the country, the predicted growth in airport passenger numbers across Riyadh, Jeddah,...
April 28, 2019

Saudi growing tourism sector under the spotlight at ATM ’19

Mohamed Abdulaziz AlShaya, Chairman of Shomoul Holding, and Fahad Al-Saif, Head of the Debt Management Office (DMO) and Advisor to the Minister of Finance, sign the MoU in the presence of Minister of Finance, Mohammed Al-Jadaan, Saudi Arabia, Shaikh Salman bin Khalifa Al Khalifa,  Bahrain’s Finance and National Economy Minister and Dr. Nayef Al-Hajraf, Minister of Finance, Kuwait.
Shumool Holding MoU with Ministry of Finance Projects Support Fund
RIYADH — Shomoul Holding has announced signing a Memorandum of Understanding (MoU) between its subsidiary Shomoul Trade Complex and the Ministry of Finance Projects Support Fund, a government initiative to stimulate the private sector, to fund part of The Avenues - Riyadh project, with an amount of SR500 million. This comes in line with public private partnership to achieve Vision 2030 objectives.Shumool Holding has previously signed an initial agreement with 9 GCC banks to fund the project with a value of SR5.1 billion.The project which is set to open in 2023 is expected to become one of the largest multi-use commercial projects in the Kingdom and will feature one of the world’s largest shopping malls. This agreement follows a separate agreement Shomoul signed with 9 Saudi and Kuwaiti...
April 28, 2019

Shumool Holding MoU with Ministry of Finance Projects Support Fund

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