Business & Money | Saturday 16 September, 2023 1:42 am

Aramco acquires Esmax, enters Latin America’s retail market

Saudi Aramco agreed to purchase a 100% equity stake in Esmax Distribusción SpA (Esmax) from Southern Cross Group, a Latin America-focused private equity company.     Esmax is a leading diversified downstream fuels and lubricants retailer in Chile. Its national presence...

More Details

Government | Saturday 16 September, 2023 1:35 am

GAC files criminal cases against 43 establishments in car market

The General Authority for Competition (GAC) brought charges against several car agents and distributors, deciding to file criminal cases against 43 establishments in the sector and 24 in other segments. It will also hold investigations into the collusion of eight establishments for SAR 600 million...

More Details

Business & Money | Saturday 16 September, 2023 1:22 am

Lunate launches in Abu Dhabi with over $50bn of AuM

Lunate, a new Partner-led and independent global alternative investment manager, today announced it will launch with more than US$50 billion of Assets under Management (AuM), making it one of the largest in the MENA region. The creation of Lunate follows a multi-party effort to establish an...

More Details

Business & Money | Saturday 16 September, 2023 1:04 am

Invest in Sharjah' participates in Belt and Road Summit

Sharjah FDI Office (Invest in Sharjah) participated at the Belt and Road Summit, which took place in Hong Kong from 13th-14th September. Invest in Sharjah was represented by Ahmed Obaid Al Qaseer, CEO of Sharjah Investment and Development Authority (Shurooq); Marwan Saleh Alichla, Director of...

More Details

Business & Money | Saturday 16 September, 2023 12:01 am

GACA issues monthly airport performance report

The General Authority of Civil Aviation (GACA) issued its August report on the performance of domestic and international airports in Saudi Arabia.   The airports are assessed according to 14 basic performance measurement criteria. This comes in implementation of the strategic...

More Details

Tourism & Hospitality | Friday 15 September, 2023 6:23 pm

Four Seasons Hotel Riyadh Honors the 93rd Saudi National Day with Festive Celebrations

On the occasion of the 93rdSaudi National Day, discover true Saudi hospitality at Four Seasons Hotel Riyadh at Kingdom Centre with four days ofcelebrations including a range of exciting experiences for the whole family.A PERFECT ESCAPEFamilies can celebrate with a perfect staycation, by booking one ...

More Details

Culture & Education | Friday 15 September, 2023 2:29 am

Royal Commission for AlUla and Antiquities Association sign co-operation agreement at AlUla

The Royal Commission for AlUla (RCU) and Saudi Arabia’s Antiquities Association have signed an agreement to promote research and community participation in the fields of antiquities and cultural heritage, during this week’s AlUla World Archaeology Summit.The agreement, signed by Dr Abdulrahman...

More Details

Business & Money | Friday 15 September, 2023 1:52 am

Al Sagr board proposes SAR 160 mln rights issue to raise capital

The board of Al Sagr Cooperative Insurance Co. recommended, on Sept. 13, increasing the company’s capital to SAR 300 million through a SAR 160 million rights offering.    The capital increase will help Al Sagr comply with the...

More Details

Business & Money | Friday 15 September, 2023 1:22 am

Siemens signs agreements with Giza Systems, Saudi Coffee Co.

Siemens announced a series of agreements with Saudi Arabian businesses and institutions at the Digital Industries Technology Day in Riyadh last week, emphasizing a shared commitment to accelerating digitalization and sustainability in multiple sectors with the aim of helping achieve the Kingdom’s ...

More Details

Business & Money | Friday 15 September, 2023 1:09 am

Arabian Pipes awarded SAR 204 mln supply contract by Aramco

Arabian Pipes Co. was awarded today, Sept. 13, a new order worth around SAR 204 million by Saudi Aramco for the supply of steel pipes and coating services, the company said in a statement to Tadawul.   The contract term is 16 months, said the company, adding that the related...

More Details