Business & Money | Sunday 24 August, 2025 10:55 am

Almoosa secures SAR 650M credit facility from BSF

Almoosa Health Co. signed, on Aug. 21, a Shariah-compliant credit facility agreement with Banque Saudi Fransi (BSF) at a total value of SAR 650 million. The facility will extend over a period of seven years, and will be guaranteed by a promissory note, the company said in a statement to...

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Business & Money | Sunday 24 August, 2025 10:53 am

ACWA Power, SEC secure SAR 12.8B financing for Rumah 1, Nairyah 1 power projects

ACWA Power and Saudi Electricity Co. (SEC) announced the financial close of two gas-fired combined-cycle power plant projects — Rumah 1 and Nairyah 1, the companies said in two separate Tadawul statements. The financing amounted to SAR 12.8 billion ($3.4 billion) and has a duration of...

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Business & Money | Sunday 24 August, 2025 10:35 am

Saudi VC Impact46 Makes SAR +200M Bet on Baloot Developer in Landmark Gaming Deal

Impact46, one of Saudi Arabia’s most active technology investors, has made its largest bet yet, committing more than 200 million riyals ($53 million) to back Kammelna, the Saudi gaming studio best known for bringing the Kingdom’s iconic card game Baloot to mobile screens. Founded in...

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Business & Money | Sunday 24 August, 2025 10:32 am

ADNEC Group receives International Renewable Energy Certificate

ADNEC Group, a Modon Holding company, has been awarded and redeemed its first International Renewable Energy Certificates (I-REC), produced by Emirates Water and Electricity Company (EWEC), issued by Abu Dhabi Department of Energy and governed by The International Tracking Standard Foundation, the...

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Business & Money | Sunday 24 August, 2025 10:25 am

RAKEZ client session empowers business leaders with comprehensive tax guidance

 Ras Al Khaimah Economic Zone (RAKEZ) welcomed the members of its business community to a practical and engaging session titled ‘Numbers without the nonsense: Tax and accounting essentials for non-financiers’. Tailored for entrepreneurs, decision-makers, and leaders from both free zone and ...

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Business & Money | Sunday 24 August, 2025 10:23 am

Azizi Developments partners with UAE-based MPI

Azizi Developments, a leading private developer in the UAE, has announced a new contract with Modern Plastic Industry (MPI), a pioneering manufacturer of high-performance piping solutions. Under this agreement, MPI will supply UPVC pipes and fittings for high-pressure and drainage applications...

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Business & Money | Sunday 24 August, 2025 10:12 am

NWC distributes over 45.5 million m3 water during tourist season in Asir, Al Baha, and Al Taif.

The National Water Company (NWC) announced that it has achieved its operational targets in managing the water distribution system during the tourist season in Asir and Al Baha regions, and Al Taif governorate. NWC distributed more than 45.5 million cubic meters of water, reflecting its efficient...

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Business & Money | Sunday 24 August, 2025 10:11 am

DMA launches Visitors’ License for Operating Pleasure Marine Vessels to Holders of Licenses Issued by Any IMO Member State

In a move aimed at enhancing the experience of Dubai’s visitors and facilitating their engagement in recreational marine activities, the Dubai Maritime Authority (DMA), part of the Ports, Customs and Free Zone Corporation (PCFC), has announced the introduction of a new service for issuing...

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Environment & Energy | Sunday 24 August, 2025 10:08 am

District Cooling: A Strategic Solution to Climate Challenges and for the Cities of the Future

 Climate change is the most pressing issue of our time, and the world is at a critical juncture. In 2024, global temperatures reached their highest level on record; approximately 1.55°C above pre-industrial levels. This rise is the result of more than a century of burning fossil fuels such as ...

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Business & Money | Sunday 24 August, 2025 10:04 am

Azizi Developments' Riviera Beachfront I reaches 70% construction milestone

Azizi Developments, a leading private developer in the UAE, has announced that Beachfront I in Riviera, its French Mediterranean-inspired waterfront community in MBR City, has now reached 70% completion.  Beachfront I’s structure is fully complete, with blockwork and internal plastering ...

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