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Riyad Bank’s shareholders to receive $400m in dividends for H1

RIYADH: Riyad Bank’s shareholders are set to receive a total of SR1.5 billion ($400 million) in cash dividends for the first half of 2022.

Expo impacted all hospitality segments: Report

Arabian Post Staff Expo 2020 has had a positive impact on all markets in the UAE, while the FIFA World Cup Qatar 2022 is expected to result in overspill demand to the key transit hubs in Dubai and Abu Dhabi, Colliers said in its monthly hotel report for MENA. However, rising instability in key CIS source markets is expected to suppress demand, with the largest impacts expected […]

Djibouti’s ambassador to Saudi Arabia congratulates Kingdom on

RIYADH: Dean of the Diplomatic Corps and Ambassador of Djibouti to Saudi Arabia Dya-Eddine Said Bamakhrama has congratulated King Salman and Crown Prince Mohammed bin Salman for overseeing this

Who is Ruja Ignatova? The self-styled ‘cryptoqueen’ who conned

RIYADH: She is wanted in connection with an alleged $4 billion fraud case, and now, the self-proclaimed ‘Cryptoqueen’ Ruja Ignatova, has found herself on the Federal Bureau of Investigation’s top ten

Saudi authorities treat over 43K pilgrims before Hajj

RIYADH: Health authorities in Saudi Arabia have treated 43,425 pilgrims ahead of this year’s Hajj season, which begins on Wednesday, the Saudi Press Agency reported Monday. The ministry figures,

Saudi Arabia to take measures to help citizens affected by rise in

RIYADH: The Saudi Crown Prince has stressed the need to take into account the most needy citizens in the face of international developments which has resulted in a rise in the costs of some basic

Global sukuk issuance drops to $74.5bn in H1

RIYADH: Global sukuk issuance dropped to $74.5 billion in the first half of 2022, compared to $93.3 billion during the same period in 2021, according to a report issued by S&P Global Ratings. The

Saudi King Salman to issue royal decrees: Saudi Press Agency

RIYADH: Saudi Arabia’s King Salman will issue royal decrees shortly, the Saudi Press Agency said Sunday.

New Saudi smart city AlNama to be zero-carbon

RIYADH: Saudi Arabia’s new AlNama smart city will be a zero-carbon community, according to the company charged with designing the development. The hospitality hub, located on a 10 sq. km area in

France eyes ‘good investment opportunities’ in Saudi Arabia: Official

RIYADH: France is intensifying efforts to take advantage of Saudi investment opportunities in all sectors, mostly energy, technology, water and other industrial services, the country’s Ambassador in

‘Holodoctor’ service for Hajj pilgrims

RIYADH: Saudi Health Minister Fahad Al-Jalajel has launched a “holodoctor” service, in partnership with the Saudi Telecommunications Co., that would allow medical practitioners to treat Hajj pilgrims

US firm Franklin Templeton planning to establish office in Saudi

RIYADH: US multinational holding company Franklin Templeton could transfer employees from Dubai to a new office in Saudi Arabia, Bloomberg reported, quoting people familiar with the matter. People

GCC grids aim to connect with Europe once Egypt, Jordan, and Iraq

RIYADH: The Gulf Cooperation Council Interconnection Authority aims to connect with Europe in the future once the grids to Egypt and Jordan are linked, said the authority’s CEO Ahmed Ali Al-Ebrahim.

SMEs grow 15% to 752,600 in Q1 2022 as business climate improves:

RIYADH: The number of small and medium enterprises in Saudi Arabia registered a 15 percent growth to 752,600 in the first quarter of 2022 from 650,550 in the corresponding period last year, revealed

Saudi stock market to list 36 new firms by the end of Q3, says CEO

RIYADH: Saudi Arabia’s stock exchange is expected to see 36 new listings by the end of the third quarter of 2022, Asharq reported citing CEO Mohammed Al-Rumaih. Al-Rumaih added that 10 new companies

Saudi Makkah, Madinah to see 110,000 new hotel rooms by 2030: Colliers

RIYADH: Saudi Makkah and Madinah are expected to see the addition of 110,000 rooms by 2030 to cater for Hajj pilgrims, a report has claimed. Over 100,000 rooms are expected to be supplied across the

More than 1,400 Iraqi Hajj pilgrims arrive through Jadidat Arar land

RIYADH: More than 1,400 Iraqi Hajj pilgrims arrived in the Kingdom through Jadidat Arar land port on Wednesday, Saudi Press Agency reported. Iraqi Hajj pilgrims arrive in the Kingdom through Jadidat

Dogecoin jumps 8% after Elon Musk says his firm will continue to

RIYADH: Dogecoin, a widely used cryptocurrency, jumped 7.9 percent on Tuesday after Elon Musk, the CEO of Tesla and SpaceX, said he will support the digital currency. “I just know a lot of people who

NEOM extends Sindalah Island assets bid deadline until July 31

RIYADH: Saudi Arabia’s $500-billion giga-project NEOM has given contractors until July 31 to submit bids for the main works package to a key component of the city. The work is to deliver clusters 3-6

Saudi shipping firm Bahri issues $1bn SR-denominated Sukuk

RIYADH: National Shipping Co. of Saudi Arabia, better known as Bahri, has started the issuance of SR3.9 billion ($1.04 billion) Sukuk, denominated in Saudi Riyals. The offering started on June 16,

Saudi competition authority rejects GASCO’s bid to acquire 55% stake

RIYADH: Saudi Arabia’s General Authority for Competition has rejected National Gas and Industrialization Co.’s, or GASCO’s, acquisition deal with Best Gas Carrier Co., a bourse filing revealed.

Jadwa Investment acquires 70% in Kuwaiti e-commerce platform Dabdoob

RIYADH: Saudi Arabia’s Jadwa Investment has acquired a majority stake of 70 percent in Kuwait-based toy e-commerce platform, Dabdoob. The investment was completed through Jadwa E-commerce

Saudi ports record 1.38% increase in container throughput in May

RIYADH: Saudi ports recorded a slight improvement in the volume of container throughput in May with 600,107 twenty-foot equipment units, registering a 1.38 percent increase over the same period last

OECD sees Saudi Arabia’s GDP growing at more than double the G20

RIYADH: Saudi Arabia’s gross domestic product is expected to grow by more than double the rate of other G20 economies, according to a forecast from the Organization of Economic Cooperation and