Business & Money | Tuesday 10 June, 2025 3:22 pm

Abdul Latif Jameel and Joby Agree to Explore Opportunities for Electric Aircraft in Saudi Arabia

 Abdul Latif Jameel, an 80 year-old network of diversified businesses, and Joby Aviation, Inc. (NYSE: JOBY), a company developing electric air taxis for commercial passenger service, are announcing the signing of a Memorandum of Understanding (MoU) to explore opportunities to...

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Business & Money | Tuesday 10 June, 2025 3:18 pm

DUBAI SOUTH LAUNCHES SOUTH SQUARE, SELLS OUT FIRST TOWER WITHIN THREE HOURS

Dubai South Properties has announced the launch of South Square, a new luxury residential development strategically located along Sheikh Mohammed Bin Zayed Road, just minutes from the recently announced new terminal at Al Maktoum International Airport. The S4 Tower within the project was launched...

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Government | Saturday 7 June, 2025 10:49 am

Crown Prince praises Kingdom's efforts in serving pilgrims

Saudi Arabia's Crown Prince Mohammed bin Salman lauded the success of this year’s Hajj season, crediting it to the Kingdom’s commitment to serving the Two Holy Mosques and the pilgrims who visit them.    “The continued success we witnessed today in serving the Guests of...

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Business & Money | Friday 6 June, 2025 1:47 am

Maaden issues circular on capital hike to buy Alcoa, AWA stakes in subsidiaries

Saudi Arabian Mining Co. (Maaden) published the shareholders’ circular regarding the company’s planned capital increase aimed at acquiring the entire shares held by Alcoa Smelting Investments Saudi Arabia B.V. in Maaden Aluminium Co., and the entire ownership of Awa Saudi Limited in Maaden...

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Environment & Energy | Friday 6 June, 2025 1:44 am

Saudi Aramco sets Arab Crude OSP for July

Saudi Aramco set the official selling price (OSP) for its Arab Light crude for July delivery to North America at $3.5 per barrel above the Argus Sour Crude Index (ASCI). For Western Europe, the Arab Light price was set at $3.25 per barrel above ICE Brent, according to a statement...

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Business & Money | Friday 6 June, 2025 1:37 am

Port of NEOM welcomes first automated cranes

Port of NEOM, the integrated logistics hub in Oxagon, received the first batch of fully automated, remote-controlled ship-to-shore (STS) and electric rubber-tyred gantry (eRTG) cranes. The equipment is first-of-its-kind to deploy in Saudi Arabia and will significantly accelerate handling...

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Business & Money | Friday 6 June, 2025 1:34 am

Saudi Arabia, UAE top investors in high-quality office fit-outs: JLL

Saudi Arabia and UAE rank among the top countries globally in terms of investment in high-quality office fit-outs, a recent study by JLL revealed. The average cost in both countries exceeds $2,400 per square meter, well above the global average of $1,830, as workplaces increasingly become a...

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Business & Money | Friday 6 June, 2025 1:33 am

Asian firms in talks to list shares on Tadawul: Al-Rumaih

Several Asian companies are currently in talks to list their shares on the Saudi Exchange (Tadawul), CEO Mohammed Al-Rumaih told Reuters. These companies are evaluating opportunities to tap into the Kingdom’s diverse investor base, as Saudi Arabia is considering a new listing framework aimed ...

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Government | Friday 6 June, 2025 1:28 am

1.67M pilgrims perform Hajj in 2025: GASTAT

Saudi Arabia welcomed 1.67 million pilgrims in Hajj season 2025, of whom 1.51 million came from outside the Kingdom. Domestic pilgrims, both citizens and residents, numbered 166,650.  The number of male pilgrims this year reached 877,840, while females hit 795,390.   Number ...

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Business & Money | Friday 6 June, 2025 1:12 am

Derayah Financial: D360 Bank EGM OKs 27% capital hike to SAR 2.1B via SAR 450M rights issue

Derayah Financial Co. stated that the extraordinary general meeting (EGM) of D360 Bank, in which the company holds a 20% stake, approved increasing capital by 27% from SAR 1.65 billion to SAR 2.1 billion.   This is through the issuance of 45 million rights shares, at SAR 10 each,...

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