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The Industrial Engineering Company for Construction and Development (ICON), a public company based in the Egyptian capital of Cairo has announced establishing a new subsidiary in Saudi Arabia with $1.5 million issued capital. The new company will manufacture, deliver, and Read more
Kingdom Holding Company (KHC) founded by Saudi Prince Alwaleed Bin Talal, has injected $282.99 million (SR1.063 billion) in the Phoenix Group, one of the largest insurance, savings and retirement companies in the United Kingdom, as part of the company’s continuous Read more
The Public Investment Fund (PIF), the sovereign wealth fund of the kingdom of Saudi Arabia has launched AviLease, an aircraft leasing company that will provide leasing, trading and asset management services. The fund in a statement said AviLease will initially Read more
Morocco reiterated its absolute solidarity with Saudi Arabia and its constant support for all measures taken by the Gulf Kingdom to protect its security and stability as well as the safety of its territories, citizens and residents. According to the Read more
Saudi-based dairy giant Almarai is looking to enter the seafood market with an investment of $67 million (SR252 million). The investment will be used to fund Almarai’s seafood processing facility, the company said in a statement to the Saudi bourse. Read more
The Saudi central bank increased Wednesday the interest rate by 50 basis points in a bid to control inflation, Arab News reports. The bank known as SAMA, said the move is in line with objectives of maintaining monetary and financial Read more
The Capital Market Authority (CMA) of Saudi Arabia has validated that capital increase by $4 billion of the country’s largest company Aramco through the issuance of bonus shares, Zawya reports. The CMA, media reports, has issued its resolution approving Saudi Read more
Saudi trade minister Majid ben Abdullah Al Qasabi has voiced his country’s intention to increase the number of Moroccan workers from 22,000 to nearly 500,000 within the frame of its new investment strategy focusing on human capital. During his meeting Read more
Saudi monarch King Salman has instructed Saudi Arabia’s humanitarian charity to provide urgent medical and shelter aid worth $10 million to Ukrainian refugees who have fled to neighboring countries, mainly Poland, Arab News reports. “King Salman directs KSrelief to provide Read more
King Mohammed VI of Morocco has vehemently condemned the repeated attacks on Saudi oil storage facilities as subversive and terrorist acts against vital and civilian facilities in Saudi Arabia. This came in a message of solidarity king Mohammed VI addressed Read more