Government | Friday 19 April, 2024 10:51 am

Alstom seals deal to upgrade automated people mover system at Jeddah's KAIA

France-based global rail transport company Alstom signed a contract to upgrade the Innovia automated people mover (APM) system at the King Abdulaziz International Airport (KAIA), Jeddah, according to a company statement. Under the contract, Alstom will provide design, engineering,...

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Business & Money | Friday 19 April, 2024 9:57 am

Azizi Developments’ fourth phase of Riviera marks 73% completion

Azizi Developments, a leading private real estate developer in the UAE, has announced the accelerated construction of the fourth phase of Riviera, its French Mediterranean-inspired waterfront community strategically located in the highly sought-after Mohammed Bin Rashid City, amid Dubai’s most...

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Environment & Energy | Friday 19 April, 2024 9:55 am

SABIC, BASF, Linde launch demo plant for world's 1st electric steam cracker furnace

Saudi Basic Industries Corp. (SABIC), BASF and Linde inaugurated today, April 17, the demonstration plant for the world’s first large-scale electrically heated steam cracking furnaces, following three years of development, engineering, and construction works. The regular operation of the...

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Business & Money | Friday 19 April, 2024 9:40 am

SNB Capital expects Saudi banking sector to grow 9% from 2023

The Saudi banking sector is expected to achieve a year-on-year (YoY) growth rate of 8-9%, during the first quarter of 2024, buoyed by increased lending activity, enhanced profit margins, and steady deposit costs, Iyad Ghulam, Head of Equity Research at SNB Capital, told Argaam. In his...

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Technology & IT | Friday 19 April, 2024 9:20 am

Virgin Mobile Saudi Arabia signs strategic JV partnership with HITEK to develop smart cities in the Kingdom

 Middle East regional technology services company, HITEK, part of the Farnek group of companies, has signed a JV partnership with Virgin Mobile Saudi; a Beyond ONE group company, as the preferred technology partner to enable a joint strategic approach to developing smart cities in Saudi...

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Business & Money | Friday 19 April, 2024 9:17 am

Alkhorayef Water awarded SAR 1.72B contract by NWC

Alkhorayef Water and Power Technologies Co. (AWPT) won on April 17 a long-term operation and maintenance contract from National Water Co. (NWC) for sewage treatment plants (Package 7) in Al-Ahsa city. The contract is valued at SAR 1.72 billion, exclusive of VAT, according to a filing to...

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Environment & Energy | Friday 19 April, 2024 8:36 am

Ducab Metals Business Launches Eco-Aluminium Rods, Revolutionizing Sustainability in Industry

DMB (Ducab Metals Business), committed to leading the “hard to abate” aluminium industry into the green economy, today announced the launch of its Green Aluminium Rod offering to its metals portfolio which will be in compliances to EU’s CBAM regulation. DMB uses recycled aluminium to...

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Technology & IT | Friday 19 April, 2024 8:27 am

Kaspersky warns of data stealers hunting for user credentials

As the malware development market continues to flourish with new stealers such as Lumma, for the last three years Redline still remains the dominant data-stealing malware used by cybercriminals. More than half of every device (55%) targeted by password-stealer attacks in 2023 has been infected with ...

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Government | Friday 19 April, 2024 7:35 am

Saudi Arabia starts reducing payment of accumulated traffic fines by 50%

The General Department of Traffic (GDT) started April 18, reducing the payment of accumulated traffic fines by 50%. The decision applies traffic violations committed by Saudi nationals, residents, visitors, and GCC nationals before today, GDT said in a statement.  To...

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Business & Money | Thursday 18 April, 2024 10:49 am

Emirates Islamic concludes debut USD 500 million financing facility

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has announced the successful conclusion of its debut USD 500 million syndicated Financing Facility. The landmark three-year term financing facility is the first of its kind raised by a Shariah-compliant financial...

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