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Noon.com, the Middle East’s leading digital e-commerce platform, has opened its largest warehouse space in Riyadh, Saudi Arabia, as part of its ongoing expansion of the logistics and fulfillment network in the Kingdom, Trade Arabia reports. The warehouse named Customer Read more
Saudi Aramco has discovered natural gas fields in four regions of the kingdom according to the country’s Energy Minister Prince Abdulaziz bin Salman. The discovery, according to the minister, was made in Shadoon, in the central region, Shehab and Shurfa, Read more
Saudi Arabia’s Public Investment Fund, PIF, has opened three new subsidiary companies’ offices in London, New York and Hong Kong in line with its global expansion plans, reports say. The fund in a statement indicated that new subsidiary companies’ offices Read more
Saudi Arabia’s Industrialization and Energy Services Co., known as TAQA, on Monday announced the acquisition of Tendeka, a UK-based engineering and manufacturing company, Arab News reports. “We continue to realize TAQA 2021 strategy to expand well services offering and become Read more
Cairo-based investment bank EFG Hermes has appointed Goldman Sachs to advise on First Abu Dhabi Bank’s (FAB) offer to acquire a majority stake, the bank has said in a statement. The board of Egypt’s largest investment bank also said it Read more
Saudi Arabia’s Al Jouf Agricultural Development Company (JADCO) has obtained a loan worth 186 million riyals ($49.6 million) to set up a French fries factory in the Gulf country, Zawya reports. JADCO got the loan from the Agricultural Development Fund Read more
The Kingdom of Saudi Arabia’s Public Investment Fund (PIF) has invested in the country’s new digital bank, D360, launched Tuesday, Gulf Business reports. The Saudi cabinet validated Tuesday the license of the bank endowed with $440 million in capital. D360 Read more
A set of Kuwaiti firms have pledged to invest $90.6 million in the Eastern Province Municipality in Saudi Arabia to set up entertainment centers and a commercial mall, reports say. The investments are part of two deals signed with governor Read more
After Morocco, Saudi Arabia has received official backing from Mauritania, Djibouti and Zambia for its bid to host Expo 2030 in Riyadh. Saudi top diplomat, Prince Faisal bin Farhan, Wednesday made a phone call to his Zambian counterpart Stanley Kakubo Read more
Saudi dairy giant Almarai Co. Has, through its subsidiary Western Bakeries Co., acquired 25 percent of Modern Food Industries, becoming the full owner of the Indian company. Almarai will inject an additional $67 million into the company. Through this acquisition, Read more