Business & Money | Monday 21 July, 2025 11:38 am

solutions renews SAR 1.5B banking facility with SNB

Arabian Internet and Communications Services Co. (solutions) renewed its Shariah-compliant credit facility agreement with Saudi National Bank (SNB), valued at SAR 1.5 billion. In a statement on Tadawul, solutions added that the facility is divided into a short-term credit line worth SAR 1...

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Business & Money | Monday 21 July, 2025 11:36 am

Qatar Airways plans to expand operations in Saudi Arabia

Qatar Airways intends to expand its operations and network within the Saudi market, enhancing the travel experience to and from the Kingdom as part of its regional strategy to strengthen air connectivity. The airline views competition in the Saudi market positively and continues to improve its ...

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Business & Money | Monday 21 July, 2025 11:34 am

ACWA Power pens deals to export renewable energy, green hydrogen to Europe

ACWA Power Co. and international partners signed today, July 20, several agreements and memorandums of understanding (MoUs) to build an integrated system for exporting renewable energy and green hydrogen from Saudi Arabia to Europe. According to a statement by Saudi Arabia’s Ministry of...

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Business & Money | Monday 21 July, 2025 11:21 am

Quara Finance obtains SAR 100M credit facility from Al Rajhi Bank

Quara Finance Co. entered into a four-year, Shariah-compliant credit facility agreement worth SAR 100 million from Al Rajhi Bank. In a statement to Tadawul, the company said the facility is intended to support the expansion of its financing operations and boost sales volume in...

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Technology & IT | Sunday 20 July, 2025 3:56 pm

Elon Musk’s xAI in Talks to Expand Data Centre Footprint in Saudi Arabia – Bloomberg

Elon Musk’s artificial intelligence startup, xAI, is in talks with data centre operators in Saudi Arabia and the United Arab Emirates to lease computing capacity, as the billionaire seeks to expand in regions offering lower energy costs and more favourable regulatory environments, Bloomberg...

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Technology & IT | Sunday 20 July, 2025 3:55 pm

Elon Musk’s xAI in talks with Saudi Arabia to lease data center capacity

Elon Musk's xAI is in discussions to lease data center capacity in Saudi Arabia, Bloomberg News reported on Wednesday, citing people familiar with the matter.   The startup is in discussion with two potential partners: Humain, a Saudi-backed AI company offering xAI several gigawatts...

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Business & Money | Sunday 20 July, 2025 12:33 pm

Dubai Chambers launches Dubai Hub London

Dubai Chambers has announced the launch of Dubai Hub London, its first international centre, designed to offer integrated government and private sector services to support international investors and companies seeking to establish operations in Dubai. The new hub aligns with the leadership’s ...

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Business & Money | Sunday 20 July, 2025 12:27 pm

2P renews, increases SAR 330M credit facilities with Riyad Bank

Perfect Presentation for Commercial Services Co. (2P) renewed and increased a Shariah-compliant credit facility to SAR 330 million with Riyad Bank, the company said in a statement to Tadawul. The financing, available until July 30, 2026, is secured by promissory notes that cover the total...

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Business & Money | Sunday 20 July, 2025 12:24 pm

ACWA Power inks $800M desalination deals with Senegal

ACWA Power Co. signed several agreements with Senegal’s government for the Grande Côte desalination plant. In an emailed statement to Argaam, the Saudi utility said this project is the largest desalination imitative in West Africa with total investment of up to $800 million. The project...

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Business & Money | Sunday 20 July, 2025 12:21 pm

Air Arabia consortium wins Dammam budget carrier license

General Authority of Civil Aviation (GACA) named a consortium led by Air Arabia and consisting of Kun Investment Holding and Nesma Co., as the new national low-cost airline based at King Fahd International Airport in Dammam. In a post on X, GACA said the new carrier will operate 24 domestic...

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