Business & Money | Wednesday 25 June, 2025 9:11 am

Axelerated Solutions inks SAR 32.24M contracts for cybersecurity system update

Axelerated Solutions for Information and Communication Technology Co. signed on June 24, two contract worth SAR 32.24 million (incl. 15% VAT) with Najm for Insurance Services Co. to update cybersecurity systems, renew operating technical support services, and increase server capacity, according to...

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Business & Money | Wednesday 25 June, 2025 9:06 am

Sport Clubs aims to double number of branches, eyes franchising: CEO

Sport Clubs Company, which owns the Body Masters brand, holds now the second-largest market share in terms of revenue, operating a network of 56 branches across 17 cities in the Kingdom. It also serves over 125,000 active members, CEO Wael El Merhabi told Argaam in an interview. Sport Clubs...

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Business & Money | Wednesday 25 June, 2025 9:03 am

Sports Ministry inks contracts to build 2 hotels in King Abdullah Sports City

Saudi Arabia’s Ministry of Sports signed today, June 24, contracts to build two hotels at King Abdullah Sports City in Jeddah with both local and international companies. The project will cover an area of 16,000 square meters and offer a total capacity of 585 hotel rooms. In a post on its...

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Business & Money | Wednesday 25 June, 2025 8:59 am

Hawiya completes residential real estate auction in Riyadh worth SAR 919.5M

Hawyia Auctions Co. announced it successfully held an auction, on June 24, for residential real estate located in the Al-Jawhara Masterplan in Al-Raed district of Riyadh. The properties are owned by Al-Jawhara Real Estate Development Co. (a single-person company under the Al-Jawhara Real...

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Business & Money | Tuesday 24 June, 2025 2:28 pm

ACCA announces redesign of qualification for a redefined accountancy profession

Future ACCA Qualification unveiled as employers look to accountants to take broader role in embracing AI-driven technology and driving sustainable business Global accountancy body ACCA (the Association of Chartered Certified Accountants) has announced a redesign of its gold standard ACCA...

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Business & Money | Tuesday 24 June, 2025 2:14 pm

Dubai Chambers’ President elected as member of Executive Board of International Chamber of Commerce

The International Chamber of Commerce (ICC) has elected Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, as a member of its Executive Board, reinforcing Dubai’s leadership in advancing global trade, driving business growth, and fostering international partnerships. The ICC is ...

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Business & Money | Tuesday 24 June, 2025 2:06 pm

Dar Al Arkan set to issue USD-denominated sukuk

Dar Al Arkan Real Estate Development Co. is set to issue US-denominated, Shariah-compliant, fixed-rate, senior unsecured sukuk under Regulation S, according to a statement to Tadawul. The real estate developer mandated Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Alkhair...

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Business & Money | Tuesday 24 June, 2025 2:02 pm

SISCO subsidiary signs SAR 1.6B concession deals with MAWANI to operate 4 Red Sea terminals

Sustained Infrastructure Holding Co.’s (SISCO Holding) subsidiary, Red Sea Gateway Terminal (RSGT), signed 20-year concession agreements with the Saudi Ports Authority (MAWANI) to operate four existing general cargo facilities along the Red Sea coast, with a total capital expenditure investment...

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Business & Money | Tuesday 24 June, 2025 1:59 pm

Fakeeh Care inks SAR 938M credit facility deal with Alinma Bank

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) signed, on June 23, a Shariah-compliant credit facility agreement at competitive terms and conditions with Alinma Bank, according to a statement to Tadawul. The total credit amount of SAR 938 million is split between SAR 638 million in...

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Business & Money | Tuesday 24 June, 2025 1:57 pm

Jadwa Acquires Majority Stake in Leading Retailer Makhazen Alenaya Through its GCC Diversified Private Equity Fund

Jadwa Investment, a leading investment management and advisory firm in the Middle East, today announced the acquisition of a majority stake in Makhazen Alenaya through its flagship blind-pool vehicle, Jadwa GCC Diversified Private Equity Fund. Founded in 2019, Makhazen is a fast-growing Saudi...

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