Business & Money | Saturday 26 October, 2024 8:44 am

EDGE and Baykar Forge Strategic Partnership at SAHA 2024 to Drive UAS Advancements

EDGE, one of the world’s leading advanced technology and defence groups, and Baykar, Turkiye’s global leader in unmanned aerial vehicle (UAV) and artificial intelligence technology, have signed a Cooperation Agreement at SAHA Expo 2024. Formalised by Hamad Al Marar, Managing Director and CEO of ...

More Details

Business & Money | Saturday 26 October, 2024 8:39 am

Employee benefits gap poses risks to retaining talent as 8 out of 10 GCC employees consider job changes

Employee benefits are becoming a decisive factor in attracting and retaining talent across the GCC, yet a deep divide persists between employer offerings and workforce expectations. According to new research, over 90% of employees across the GCC region rank employee benefits as a key factor in...

More Details

Business & Money | Saturday 26 October, 2024 8:31 am

NUPCO Enhances Private Sector Engagement With New MoUs During its Participation in Global Health Exhibition 2024

The National Unified Procurement Company (NUPCO), Saudi Arabia’s leading procurement and logistics company for healthcare supplies, has successfully concluded its participation as a Foundation Partner in the Global Health Exhibition 2024. Alongside contributing to strategic discussions on the...

More Details

Business & Money | Saturday 26 October, 2024 7:29 am

BlackRock studies how to develop Saudi mortgage market

Bartholomew Nash, Director of Corporate Communications at BlackRock, said the asset management firm is studying mechanisms to develop the mortgage-backed securities market in Saudi Arabia, Al Eqtisadiyah newspaper reported.   He added that the company is currently working on this...

More Details

Business & Money | Saturday 26 October, 2024 7:28 am

Saudi reforms lure foreign investments to new sectors: IMF

Jihad Azour, Director of Middle East and Central Asia Department, the International Monetary Fund (IMF), said Saudi Arabia's reforms and investment projects help attract foreign capital to new sectors, such as entertainment and technology, in addition to the traditionally lucrative oil...

More Details

Business & Money | Saturday 26 October, 2024 6:34 am

Cargostore and HALEYS Forge Partnership to Drive Qatar’s Offshore Growth

In a move that signals the growing importance of Qatar’s energy sector, two industry giants, Cargostore Worldwide and HALEYS Group Middle East, have announced a strategic partnership poised to reshape the offshore logistics landscape. The collaboration is set to provide vital infrastructure...

More Details

Business & Money | Friday 25 October, 2024 9:42 am

45% of Saudi energy sector localized: Official

Almost 45% of the Saudi energy sector has been localized, with an eye to reach 75% by 2030, said Fuad Mosa, Deputy Minister of Localization, Local Content and Risk Management at the Ministry of Energy.   The oil and gas sector is among those with advanced localization rates, ranging...

More Details

Business & Money | Friday 25 October, 2024 9:20 am

Local content contributes SAR 150B to Saudi Electricity projects: Official

Mahmoud Basra, Director of Local Content at the Saudi Electricity Co. (SEC), said the local content—reflecting the proportion of services produced domestically— exceeded SAR 150 billion (around $40 billion) over the past five years. The utility signed mandatory localization and procurement ...

More Details

Business & Money | Friday 25 October, 2024 9:18 am

Industry Ministry works closely with investors to keep projects on track

Minister of Industry and Mineral Resources, Bandar Alkhorayef, said that the Saudi industrial sector is witnessing significant progress. The industrial strategy identified 800 projects with total investments estimated at around SAR 1.3 trillion, of which projects worth nearly SAR 500 billion are...

More Details

Business & Money | Thursday 24 October, 2024 11:31 am

Saudi Arabia’s FDI grows to SAR 96B in 2023, exceeds target by 16%

Foreign direct investment (FDI) inflows to Saudi Arabia reached SAR 96 billion in 2023, according to data by the Saudi Ministry of Investment. FDI inflows declined by 19% year-on-year (YoY) compared to 2022, when they totaled SAR 119 billion, including a SAR 55 billion Aramco deal. Without the ...

More Details