Riyadh, Saudi Arabia, December 05, 2023: ToYou, a Saudi-based super app, has significantly enhanced the online shopping experience by introducing the Buy Now Pay Later (BNPL) feature. Launched in January 2023, ToYou is the first to adopt this payment solution, influencing others to follow. With its convenience and flexibility, ToYou Pay Later has transformed how customers shop and pay for purchases. To avail themselves of the ToYou Pay Later feature, customers can select the option during the checkout process on the ToYou Super app. No additional charges or fees are associated with this feature, making it an attractive choice for users. The ToYou Pay Later feature is available across all cities in Saudi Arabia, offering convenience and accessibility to customers nationwide. Introducing the BNPL feature on ToYou empowers customers ......read more

Jeddah:  BinDawood Holding Company has announced its distinguished recognition by the General Authority for Competition, receiving an Honorary Shield for being one of first companies obtaining a Compliance Certificate in the Kingdom of Saudi Arabia. The accolade was presented during the launch ceremony of the electronic compliance portal held in Riyadh under the patronage of His Excellency, Dr. Ahmed bin Abdul Karim Al-Khulaifi, Chairman of the Authority’s Board of Directors, on Tuesday, December 5th, in Riyadh.   The Compliance Certificate is one of the initiatives of the General Authority for Competition aimed at supporting the compliance of companies aligning with the Competition Law and its implementing regulations. BinDawood Holding Company received this esteemed certificate on June 4, 2023, highlighting its ......read more

Savoye was selected as the automation and technology partner to fully automate the e-commerce Global Distribution Center of iHerb in KSA, first of its kind in the region November 21, 2023:  Savoye, a leading global warehouse automation integrator and software publisher in the Middle East, partnered with CJ Logistics, a 3PL services company operating for iHerb, the leading global eCommerce retailer for health and wellness, in Riyadh, Kingdom of Saudi Arabia (KSA), to deliver world-class automation solutions for its e-commerce Global Distribution Center (GDC). The strategic partnership is a significant development for Savoye in KSA, following its recent expansion into the region.  Under the terms of the partnership, Savoye will implement a fully automated fulfilment center, the first-of-its-kind in the region, which ......read more

The first cohort of senior executives from Musanadah, a leading Saudi-based integrated facilities management organization, have completed comprehensive management acceleration leadership program’s in collaboration with leading international business school, INSEAD, designed to empower high-potential individuals and enhance the skillset of key employees within the group. Organized by Musanadah’s parent company, Alturki Holding, and taught by INSEAD - one of the world's leading business schools headquartered in France - the new management acceleration leadership program’s are an immersive learning experience designed to advance the strategic thinking and leadership capabilities of selected directors from various subsidiaries within the diversified, 100 per cent Saudi-owned group. Tailored specifically to the ......read more

Bupa Arabia for Cooperative Insurance announced its highly anticipated marathon, which took place on Saturday, November 18, 2023, in Jubail Industrial City. This event was a key initiative under Bupa Arabia's "Live Right" program, aimed at raising awareness about physical activity and promoting a healthy lifestyle. In collaboration with the Social Services Department of the Royal Commission in Jubail, the marathon aimed to unite residents of the Eastern Province for a day replete with fitness, camaraderie, and community engagement. The marathon, which kicked off at 4:00 pm from Dareen Beach in Jubail Industrial City, offered three distinct races tailored to participants of diverse abilities and fitness levels. The 10-kilometer race catered to professionals, a 5-kilometer race for families, and a 3-kilometer race for ......read more

Al Ain Allied specialises in end-to-end e-commerce support, from creating seller and ads accounts to implementing strategic digital marketing activities Dubai, United Arab Emirates, November 2023: Al Ain Allied Investment, a pioneer in the digital marketing and online seller accounts consulting space, proudly announces its commitment to revolutionise e-commerce businesses through tailored strategies and proven results. Established in 2017, Al Ain Allied specialises in end-to-end e-commerce support, from creating seller and ads accounts to implementing strategic digital marketing activities. The company is dedicated to driving results through effective and measurable solutions, collaborating closely with clients to enhance brand awareness, increase sales opportunities, and maximise marketing budget ROI. Dr Ziad Amir Saleh, ......read more

Riyadh:  Fortinet, the global cybersecurity leader driving the convergence of networking and security, has announced its participation in the upcoming Black Hat event in Riyadh. The event is scheduled to take place from November 14 to 16, 2023 at the Riyadh International Convention and Exhibition Center. The event, organized by "Tahaluf" in collaboration with the Saudi Federation for Cybersecurity, Programming, and Drones, has the theme "Infosec on The Edge" and will unite global cybersecurity leaders, experts, ethical hackers, and enthusiasts in the field. Sami AlShwairakh, Senior Director for KSA at Fortinet, shared his enthusiasm, stating, "Fortinet is excited to align with the forward-looking vision of Saudi Arabia's Vision 2030. Our commitment to cybersecurity excellence reflects the ......read more

Sub-headlines:  - AI Applications Deliver Numerous Advantages to PR.  - AI Writing Tools Complement, Not Replace, Human Writers.  - PR Professionals Harness AI's Potential. - Boosting PR Campaign Performance with Artificial Intelligence Jeddah:  Despite the mounting concerns surrounding the impact of Artificial Intelligence (AI) on the field of public relations, AI applications have ushered in a host of benefits for PR experts. The industry is urged to embrace the ongoing AI revolution, empowering PR professionals to master the tools and software at their disposal, according to a statement by PR consultancy firm W7Worldwide. W7Worldwide, a prominent homegrown marketing communication agency based in Saudi Arabia, has published a report titled "The Role of Artificial Intelligence in the Public ......read more

- The move is part of the Institution’s vision to become a leading energy-focused impact fund  - The Institution will focus among other areas on investing in decarbonization and related technologies to support a secure and sustainable energy future for MENA - New brand identity to be unveiled in the coming months   Riyadh, November 6, 2023 — The Arab Petroleum Investments Corporation (APICORP), an energy-focused multilateral financial institution, announces that it has moved in to its new headquarters in Riyadh.   The move to the capital city, a leading regional financial hub, is part of the Institution’s strategic vision to become a leading energy-focused impact fund, with a mission to enabling a secure and sustainable energy future for the MENA region while contributing to economic ......read more

High Performance, Strong Profitability Reflect Progress in Advancing Business Portfolio, Accelerating B2B Business and Procuring New Growth Engines 02 November, 2023 — LG Electronics Inc. (LG) today announced third-quarter 2023 consolidated revenue of KRW 20.7 trillion and operating profit of KRW 996.7 billion, both the second highest third-quarter figures in the company’s history. The noteworthy performance was driven by both the company’s core home appliance business and vehicle solutions, one of its future growth engines. Home appliances more than doubled its operating profit year-over-year while vehicle solutions recorded an all-time high operating profit. The strong performance reflects the company’s smooth progress in the execution of its future vision for 2030, leading to solid revenue and profits ......read more

November 02, 2023 — Cummins Arabia announced the signing of a Memorandum of Understanding (MoU) with Al Rasheed Co. to explore mutually beneficial business opportunities within the defense sector in the Kingdom of Saudi Arabia. With a rich history and expertise in serving the defense segment, Cummins Arabia will bring innovative and reliable power solutions that cater to the unique demands of the sector. The partnership will amplify the potential to deliver unparalleled solutions and services to the Kingdom. Ahmed Alghamdi, Country Leader at Cummins Saudi Arabia, expressed, “Our partnership with Al Rasheed Co. opens new horizons for Cummins Arabia, significantly expanding our operations within the Kingdom. This goes beyond a mere partnership; it reflects our unwavering commitment to investing locally and spearheading ......read more

• The Saudi Investment Bank becomes the official partner of Real Madrid CF • A testament to the bank’s commitment to its clients to offer unique experiences   Riyadh, Saudi Arabia, 1  November  2023 - The Saudi Investment Bank (SAIB) announced today its new partnership agreement with Real Madrid CF. This collaboration aims to introduce unique customer experiences to the bank’s customers.    At the official signing ceremony, SAIB emphasized that this agreement would allow it to connect with Real Madrid fans in Saudi Arabia and enable SAIB customers to have access to unique experiences.   The partnership is part of SAIB’s commitment to be a leader in clients’ rewards.

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• Generates SAR 6.5 billion in revenue and SAR 722 million net profit yielding 11.1% net margin as of 9M 2023. • Strong fundamentals and diversified business model enabling market share growth while accelerating development of healthcare and e-commerce platforms.     Jeddah, Saudi Arabia – 1 November 2023: Nahdi Medical Company (“Nahdi” or “the Company”), Saudi Arabia’s leading purpose-driven healthcare and wellbeing Company, today reported its financial results for the third quarter of 2023 (“Q3 2023”) and first nine months of 2023 (“9M 2023").     Operational Highlights Financial Highlights 9M 1,105 Nahdi Pharmacies 5 Nahdi ......read more

Jeddah, Saudi Arabia – 31 October 2023: First Milling Company (“the Company”, or “First Mills”), a market-leading Saudi milling company, today announced its financial performance for the first nine months (“9M”) and third quarter (“Q3”) of 2023. Commenting on the financial results, Abdullah Ababtain, Chief Executive Officer of First Mills, said,  "First Mills delivered a solid set of results for the first nine months of 2023G, in spite of the challenging market environment. Our core business is diversified and robust, and we are actively improving efficiencies to expand margins.  Our downstream businesses that we continue developing will start boosting in the last quarter of 2023G such as the launch of our PESA Mill and Mixing Plant, with more to come in 2024G from ......read more

• Single Stock Options (SSOs) contracts are the third derivatives product to be introduced in the Saudi Exchange • The Saudi Exchange will launch physically settled American options • SSOs contracts will be available to trade on the 27th of November 2023   Riyadh – 29 Oct 2023: The Saudi Exchange today announced its intention to launch the Single Stock Options (SSOs) contracts, the third derivatives product to be introduced in the Saudi Exchange. SSOs contracts will be available to trade on 27 November 2023, enabling local and international investors to hedge and manage portfolio risks effectively. SSOs contracts will be cleared and settled by the Securities Clearing Center Company (Muqassa) in line with international best practices. SSOs contracts are standard options contracts with an individual ......read more

Riyadh, Saudi Arabia, 25 October 2023 – The King Abdullah Financial District Development and Management Company (KAFD DMC) announced the plans of Deloitte, the largest professional services firm in the world, to open a new regional headquarters in the King Abdullah Financial District (KAFD) in Riyadh, in order to enhance its presence in the Kingdom of Saudi Arabia and the Middle East. Deloitte’s presence in the Saudi market extends to over half a century of leveraging its global capabilities and wide range of expertise to serve the Saudi public and private sectors. The professional services giant is at the forefront of the Kingdom’s socioeconomic transformation, driving the success of key giga projects in the nation and supporting the objectives of Vision 2030.  The company’s new offices occupy a ......read more

Riyadh, Saudi Arabia, 23 October 2023 - As Riyadh hosts the seventh edition of the Future Investment Initiative (FII), a global convergence for shaping solutions to pressing global challenges, Bain & Company announces its role as a ‘Data and Knowledge Partner’ for the event. Themed "The New Compass", this year’s event will be held from 24th to 26th October 2023, and will delve deep into the currents of socioeconomic and geopolitical transformations. Bain & Company Middle East will host an important session at the event.  Moderating the session on energy transition is Akram Alami, Partner and Middle East Head of Aviation, Utilities, and Sustainability & Responsibility Practices, Bain & Company. "Scaling Green Technologies from Spark to Flame", aims to pierce the wall of ......read more

October 23, 2023 - The Executive Council of the UNWTO has confirmed the extension of His Excellency Ahmed Al Khateeb, Minister of Tourism of Saudi Arabia, as Chairman for 2024. This decision was made during the 25th session of the General Assembly of the UNWTO, which is being held in the Uzbek city of Samarkand.   His Excellency Ahmed bin Aqil Al-Khateeb, stated: "The first term of the Executive Council, led by the Kingdom in 2023, was marked by initiatives that combined partnership, innovation, and progress. The achievements were based on the shared vision, cooperation and firm commitment among all Member States.”   He added, "Together, we have paved the way to create a vision for a flexible tourism sector. We look forward to continuing our leading role in 2024 and remain mindful of the aspirations and ......read more

• Business and public sector leaders convene at Riyadh’s Ritz Carlton for talks on the future trajectory of the kingdom • Expert-led discussions result in the launch of a unique report: ‘Saudi Arabia: Uncharted Terrain, Unlimited Opportunity’ • Representatives from Saudi Arabia’s Public Investment Fund (PIF), Saudi Conventions and Exhibitions Authority, Aseer Development Authority, Nortal and King Abdulaziz University, count among the attendees  • Saudi Arabia’s policy and regulatory landscape, competition and investment, and capability development dominate the agenda   Riyadh, Saudi Arabia, 12 October 2023: Arthur D. Little (ADL) has hosted its inaugural CEO Session at the Ritz Carlton in Riyadh, with candid insights from prominent executives and public sector ......read more

 RCU to contribute to UN-led ‘global stocktake’ in preparation for COP28 conference  AlUla ecosystems are being comprehensively regenerated from grassroots to apex   Riyadh, Saudi Arabia, 6 October, 2023: The Royal Commission for AlUla (RCU) will participate in the United Nations Middle East and North Africa (MENA) Climate Week 2023 as part of key discussions, workshops, and exhibitions focused on addressing the region’s most pressing environmental challenges.   MENA Climate Week will be hosted by the government of Saudi Arabia from 8-12 October in Riyadh in collaboration with the United Nations Framework Convention on Climate Change. The event will assess where the region stands on climate action and support, identify gaps, and explore pathways to ......read more

The property market in Saudi Arabia is currently experiencing incredible growth and Berkeley Group is set to take a key part in this after their recent participation at Cityscape Global    Riyadh, Saudi Arabia (4 October 2023): Berkeley Group, a renowned developer of quality homes and neighbourhoods across London, Birmingham, and the South of England, recently took their place at the prestigious Cityscape Global event held at the Exhibition & Convention Center - Malham, located just outside Riyadh, Saudi Arabia, from September 10th to 13th, 2023. The group saw it as the perfect opportunity to not only meet with prospective investors, but to also show their support for the rapidly expanding Saudi Arabian property sector.    Cityscape Global, an internationally acclaimed event celebrating property, community, ......read more

RIYADH – 4 October 2023 – ADES Holding Company (“ADES”, the “Group” or the “Company”), a leading oil and gas drilling and production services provider in the Middle East and North Africa region (the “MENA” region), today announces the successful completion of the offering period for retail investors (“Retail Subscription Period”) for the Company’s initial public offering (“IPO” or the “Offering”). The retail subscription process, comprising of a maximum of 33,871,875 shares representing 10% of the total Offer Shares, commenced on Tuesday, 11/3/1445H (Corresponding to 26/09/2023G) and ended at 2pm on Thursday, 13/3/1445H (Corresponding to 28/9/2023G). It witnessed participation of 1,307,676 subscribers, indicating a coverage of 9.83 ......read more

Saudi Arabia - October 03, 2023: Toshiba Gulf FZE (TGFZ), a fully owned subsidiary of Toshiba Corporation (Japan) managing the MEA region for storage products and solutions announced the launch of its "Build Your Own Data Centre" initiative across the Middle East and Africa. This initiative will help its channel partners adapt to a data-driven future while optimizing costs and performance. In a rapidly evolving technological landscape, companies are faced with the pivotal decision of whether to migrate entirely to the cloud or continue maintaining on-premises data centers. While cloud adoption is on the rise, many enterprises are finding value in balancing the two—a strategy known as a hybrid approach. This initiative will help educate and empower channel partners, including System Integrators, VARs, and VAD, to help ......read more

Jeddah, 27 September 2023 – Shangri-La Jeddah announces the appointment of Philma Gomes-Ellis as Director of Sales and Marketing. With 28 years of progressive experience in luxury hospitality sales & marketing across South Africa, Kenya, Jordan and Kuwait, her appointment aligns seamlessly with Shangri-La Jeddah’s overarching vision of fostering an inclusive and diverse global community.  Philma Gomes-Ellis is a valued addition to the hotel's already distinguished team, which boasts a commitment to diversity and inclusivity, with over 25% of the current team members female, and this number is steadily growing. Philma's extensive expertise and leadership will undoubtedly play a pivotal role in maintaining and further enhancing the hotel's reputation for excellence. A seasoned and accomplished ......read more

His Royal Highness Prince Khaled bin Alwaleed bin Talal Al Saud, Founder and CEO of KBW Ventures, will head an elite judging panel at InFlavour’s Five-Star Pitch Fest First in the food industry InFlavour Investor Programme to leverage bountiful import, export, and re-export opportunities in KSA’s growing food service sector at Riyadh mega event this October Invest & Indulge Stage explores global tech and trends driving sustainable food investment ecosystem; VC leaders from Big Idea Ventures, Brinc, and Blue Horizon set to attend Riyadh, Saudi Arabia | September 26 2023: More than 200 globally prominent investors and venture capitalists will gather in Saudi Arabia this October as part of the first edition of InFlavour – the new, Riyadh-based food sector showcase that aims to become one of the world’s ......read more

• The MOUs aim to support prospective homebuyers via the provision of financial solutions and access to government resources, such as the Sakani Programme. • The signings with key industry partners follow the recent launch of Innovest’s Jadan Communities.   The Kingdom of Saudi Arabia, 21 September 2023: Innovest, a premier investment and development company focussed on creating unique lifestyle communities throughout Saudi Arabia, signed several strategic Memoranda of Understanding (MOUs) at Cityscape Global in Riyadh last week. The signings are in collaboration with key industry partners – including notable financial institutions, construction companies, global project developers, and real estate investment firms. The agreements align with the Saudi Vision 2030 principle of boosting the local real ......read more

News Summary:  • Saudi Arabia records the highest percentage in EMEA (Europe, Middle East and Africa), with 91% of respondents in KSA seeing broadband as critical national infrastructure, like access to water or electricity.  • Sustainability is now a key driver of consumer choice with 65% concerned about the carbon footprint of their Internet, and 92% of respondents willing to pay more for sustainable broadband.   Riyadh, Saudi Arabia, September 19, 2023 – The latest Cisco Broadband Survey1 – which included 2,000 respondents from Saudi Arabia – has found that evolving consumer expectations will reshape the needs and economics of the Internet.    Consumers in Saudi Arabia are rethinking what they rely on the Internet for, balancing anticipated demands for speed and ......read more

• The four new Tadawul indices are: The Tadawul Large Cap Index, Tadawul Medium Cap Index, Tadawul Small Cap Index, and the Tadawul IPO Index • The launch of the indices aligns with the Saudi Exchange's ongoing initiatives to provide investors with enhanced benchmark opportunities and stimulate growth in new products for investors.   Riyadh, Saudi Arabia – 18 September 2023 : The Saudi Exchange has launched four new indices, marking a significant step forward in the development of the Saudi capital market. These indices, based on company size and IPO performance, provide investors with a broad range of investment benchmarks while enabling institutions to offer new products to meet growing investor strategies.    The Size Indices introduced by the Saudi Exchange reflect the market's ......read more

• The MOUs aim to support prospective homebuyers via the provision of financial solutions and access to government resources, such as the Sakani Programme.  • The signings with key industry partners follow the recent launch of Innovest’s Jadan Communities.      The Kingdom of Saudi Arabia, 14 September 2023: Innovest, a premier investment and development company focussed on creating unique lifestyle communities throughout Saudi Arabia, has signed several strategic Memoranda of Understanding (MOUs) at Cityscape Global in Riyadh. The signings are in collaboration with key industry partners – including notable financial institutions, construction companies, global project developers, and real estate investment firms.    The agreements align with the Saudi Vision 2030 ......read more

• VFS Global will conduct consular camps in KSA till the end of the year • The Camps will offer Passport Renewal and Document Attestation services for Indian citizens residing in Saudi Arabia     To ease the passport renewal process for Indian citizens residing in the Kingdom of Saudi Arabia (KSA), the Embassy/ Consulate of India in KSA has unified efforts with VFS Global, the world’s largest visa outsourcing and technology services specialist for governments and diplomatic missions worldwide, to organise scattered tours to collect passport renewal applications & Documents Attestations for Indian communities residing in the remote locations of the central, eastern and western regions of the Kingdom.   VFS Global has been conducting these Consular Camps since 2009, covering Bisha, ......read more

 Expansion round was co-led by Aramco’s Wa’ed Venture and BOLD Capital, with participation by Khosla Ventures and 15 other new and existing investors   New money brings the total funding raised since inception to $153 million  Funds to be used to build out Mighty Buildings’ factories in North America and expand operations to Saudi Arabia and the United Arab Emirates   September 12, 2023 – Mighty Buildings, the leader in 3D printing construction technology known for its prefabricated, environmentally friendly and climate-resilient homes, today announced that it has raised $52 million in funding. This latest round demonstrates strong investor confidence in Mighty Buildings' innovative offsite 3D printing construction technology.   The round was co-led by ......read more

Riyadh:  In a significant development aimed at investing in and developing human capital, the Ministry of Human Resources and Social Development has partnered with Bupa Arabia for Cooperative Insurance as the exclusive provider of health insurance services for the newly launched "DOAM" job loyalty program, targeting over 1.2 million male and female public sector employees across Saudi Arabia.  The DOAM program, initiated under the guidance of the visionary leadership, aligns with the ambitious goals of Saudi Vision 2030 by bolstering the government sector and recognizing the dedicated contributions of public sector employees. It seeks to foster a dynamic and productive work environment through the implementation of performance standards that promote a culture of job excellence, elevate employee productivity, and ......read more

• Led by the Centre for the Fourth Industrial Revolution- in the Kingdom of Saudi Arabia (C4IR-KSA) as part of the Centre’s project (Accelerating the Impact of Industrial Internet of Things for Small & Medium Enterprises), Co-branded with the World Economic Forum (WEF), and Co-authored by the Saudi Ministry of Industry and Mineral Resources (MIM), the Saudi Authority for Industrial Cities and Technology Zones (MODON), and Arthur D. Little (ADL), the report highlights some of the leading efforts currently taking place in KSA to support the digital transformation and technological advancement in the industrial sector. • By unlocking the full potential of industrial SMEs and enabling their digital and technological transformation, the report reveals a roadmap to fuel economic growth and enhance global competitiveness ......read more

• Net comprehensive income recorded a significant 87% YoY growth to USD 108.7mn • Net operating income increased 32% YoY to USD 129mn YoY  • Total assets grew 10.3% from December 2022 to June 2023 • A new five-year corporate & business strategy has been finalized, which will usher in the next phase of growth.   Riyadh, Saudi Arabia, 5 September  2023 – The Arab Petroleum Investments Corporation (APICORP), a multilateral energy-focused financial institution, today announced its financial results for the period ending June 30, 2023.   APICORP reported strong results, recording its highest-ever half year net comprehensive income of USD 108.7mn, a significant 87% year-on-year (YoY) compared to June 2022. Net operating income increased 32% YoY to USD 129mn, capitalizing on ......read more

• With the size of the funding round, Rewaa’s Series A is the largest Series A SaaS in the MENA region. • The Series A investor cohort includes Aramco’s Wa’ed Ventures and STC’s Corporate Investment Fund (CIF), and Silicon Valley investor Graphene Ventures, along with five of the top venture capital firms in the region. • Since its founding, the company has provided solutions to more than 7,000 retailers in    the Kingdom and abroad and has created over 250 local jobs. • Rewaa was recently selected by Ministry of Communications and Information Technology (MCIT) among the first cohort of the Saudi Unicorns Program, a national program supporting high-growth tech companies on their way to achieving unicorn status.   Riyadh, Saudi Arabia - August 28, 2023 – ......read more

Riyadh, Saudi Arabia (August 23, 2023) - Parsons Corporation (NYSE: PSN) announced today that the company was awarded a 5-year contract by the King Abdullah Financial District Development and Management Company (KAFD DMC) for project and construction management services in Saudi Arabia’s prime business and lifestyle destination, the King Abdullah Financial District (KAFD). The contract supports the expansion of KAFD in new, undeveloped land.  Located in the heart of Riyadh, the capital of Saudi Arabia, KAFD features 1.6 million square meters of state-of-the-art office space, world-class facilities, and iconic luxury residences designed to transform how urban communities live, work, and play. It is the first vertical city solution in Saudi Arabia, comprising a 5-asset class mixed use living district, a key driver of ......read more

The property joins Hilton’s expanding portfolio in Saudi Arabia, serving the eastern region with direct access to King Fahd International Airport    Left to right: Mohammed Almusbahi, Director, Al Musbah Group, Eng. Mohammed Al Hassany, CEO, DACO, and Amir Lababedi, Managing Director, Development, Middle East & North Africa, Hilton   DAMMAM Saudi Arabia, 22 August 2023 – Hilton (NYSE: HLT) is continuing its expansion across Saudi Arabia with the signing of Hilton Dammam Airport, its first airport hotel in the country. The 273-key property will be completed in partnership with Al Musbah Group and Damman Airports Company (DACO).    Hilton Dammam Airport will offer guests spacious and contemporary accommodation with direct skywalk access to the terminal building at King Fahd International ......read more

The property joins Hilton’s expanding portfolio in Saudi Arabia, serving the eastern region with direct access to King Fahd International Airport    eft to right: Mohammed Almusbahi, Director, Al Musbah Group, Eng. Mohammed Al Hassany, CEO, DACO, and Amir Lababedi, Managing Director, Development, Middle East & North Africa, Hilton   DAMMAM Saudi Arabia, 17 August 2023 – Hilton (NYSE: HLT) is continuing its expansion across Saudi Arabia with the signing of Hilton Dammam Airport, its first airport hotel in the country. The 273-key property will be completed in partnership with Al Musbah Group and Damman Airports Company (DACO).    Hilton Dammam Airport will offer guests spacious and contemporary accommodation with direct skywalk access to the terminal building at King Fahd International ......read more

• Moody’s Rating reaffirms APICORP’s high capital adequacy, supported by a track record of strong profitability and robust asset quality. • APICORP has a well-diversified funding structure and high shareholder support derived from large callable capital buffers and a robust enforcement mechanism.    Saudi Arabia, August 14 2023 - The Arab Petroleum Investments Corporation (APICORP), an energy-focused multilateral financial institution, announced that Moody's Investors Service (Moody's) had reaffirmed its credit rating as a Long-Term Issuer at 'Aa2' with a Stable outlook.    The ratings reflect APICORP’s ample liquidity to cover upcoming net cash due to its well-diversified funding structure and shareholder support from callable capital, and strong enforcement ......read more

• Net profit attributed to equity holders at SAR 684 million, up 26% year-on-year  • Annual dividend of SAR 607 million (SAR 0.83 per share) for 2022 fully paid on 12 July   Riyadh, Saudi Arabia; 10 August, 2023: ACWA Power Company, a publicly listed company on the Saudi Arabian Tadawul stock exchange (ACWA Power: 2082), today announced financial results for the six-month period ending 30 June 2023.    Supported by higher operating income, the Company’s net profit—attributable to equity holders of the parent—has increased by 26% versus the first half of 2022 and reached SAR 684 million. Financial expenses were higher mainly on account of the new debt issuance for growth and the continuous increase in market rates. This was more than offset by increase in other income and ......read more