Government | Sunday 26 May, 2024 8:58 am

ZATCA sets measures for selecting entities at 12th phase of e-invoicing

The Zakat, Tax and Customs Authority (ZATCA) determined measures for selecting target establishments at the 12th category to apply the integration phase of e-invoicing.   In a statement, the authority added that the 12th category includes all entities whose revenues, inclusive of...

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Tourism & Hospitality | Sunday 26 May, 2024 8:57 am

SGS to set up travel, tourism services unit

Saudi Ground Services Co.’s (SGS) board of directors approved on May 23 to set up a new wholly owned limited liability subsidiary in Saudi Arabia, according to a statement to Tadawul.   The new unit, “Ground Service Co. for Travel and Tourism Services” is capitalized at SAR...

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Environment & Energy | Saturday 25 May, 2024 8:11 am

MEWA targets 16.2M CMD of desalinated water: Official

The production capacity of desalination plants in Saudi Arabia currently stands at 9.4 million cubic meters per day, Saud Al-Murshed, Director of Planning, Deputy Ministry for Water at the Ministry of Environment, Water and Agriculture (MEWA), said. The ministry targets 16.2 million cubic meters of ...

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Tourism & Hospitality | Saturday 25 May, 2024 8:09 am

Saudi Arabia to change the global tourism map: Al Khateeb

Saudi Arabia will change the global tourism map, Ahmed Al Khateeb, Minister of Tourism and Chairman of the Executive Council of the United Nations World Tourism Organization (UNWTO), said. He highlighted that the opportunities and facilities it offers to investors will make the tourism sector more...

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Business & Money | Saturday 25 May, 2024 8:06 am

Moody's affirms Saudi Arabia's 'A1' rating, outlook positive

The rating agency Moody's affirmed Saudi Arabia's 'A1' rating, with positive outlook, Saudi Press Agency reported.  The Kingdom’s rating, according to the agency, came in line with the tangible progress the government has achieved in comprehensive reforms since 2016, as well as the...

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Business & Money | Saturday 25 May, 2024 8:04 am

Aramco plans share of nearly $10B shares: Report

Saudi Arabia is planning a $10 billion share sale in Aramco, Reuters reported. The share sale is expected to take place as soon as June in what would be one of the region's biggest stock deals. The preparations are ongoing and the details could still change, two sources...

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Business & Money | Saturday 25 May, 2024 1:00 am

Almuneef renews, expands SAR 35M credit facilities deal with Bank Albilad

Almuneef Co. for Trade, Industry, Agriculture, and Contracting announced the renewal and increase of its financial facilities contract with Bank Albilad. In a statement to Tadawul, the company said the facilities’ renewal for the previous year totaled SAR 13 million, with approval for an...

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Business & Money | Saturday 25 May, 2024 12:03 am

Korea Eximbank provides $1B financing to Saudi Amiral project

The Export-Import Bank of Korea (Eximbank) announced on Thursday that it will provide the Amiral petrochemical complex project in Saudi Arabia with $1 billion in financing, Yonhap News Agency reported, citing a statement. The project was awarded to Hyundai Engineering & Co. This project...

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Tourism & Hospitality | Saturday 25 May, 2024 12:03 am

Dubai Production City to participate in drupa 2024 in Germany

Dubai Production City, the Middle East’s leading destination dedicated to printing, packaging, and production industry excellence, has announced its participation in drupa, the world’s leading trade fair for the printing and graphics sector taking place from 28th May to 7th June 2024 in...

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Tourism & Hospitality | Saturday 25 May, 2024 12:02 am

Khalifa Fund awards winners of first Innovation Challenge 'Inno Tank'

Khalifa Fund for Enterprise Development successfully concluded the inaugural edition of the "Innovate" Innovation Challenge, which was launched in February, in conjunction with the UAE's Innovation Month, "UAE Innovates 2024". The challenge targeted students from universities in Abu Dhabi, as part...

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