Technology & IT | Wednesday 17 April, 2024 12:28 pm

ESL FACEIT Group and Qiddiya City Partner to Drive Esports Evolution with Five-Year Partnership

 ESL FACEIT Group (EFG), the world’s leading esports and video game entertainment company, and Qiddiya City, a global destination for entertainment, sports, and culture, today announced a five-year global partnership to empower Qiddiya’s goal of establishing the world’s premier gaming...

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Business & Money | Wednesday 17 April, 2024 10:29 am

Saudi Cable names Fawaz Al Muqbil as CEO, Khalid Khashoggi as MD

Saudi Cable Co.’s board of directors decided yesterday, April 16, to appoint Fawaz Bin Mubarak Al-Muqbil as CEO effective today, April 17. Al-Muqbil replaced Nael Samir Fayez, who was appointed as an advisor to the company’s board of directors, according to a statement to...

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Business & Money | Wednesday 17 April, 2024 9:52 am

National Building renews SAR 85M credit facility with Alinma Bank

National Building and Marketing Co. signed a renewal for the Shariah-compliant credit facilities agreement worth SAR 85 million with Alinma Bank, according to a statement to Tadawul. The revolving loan agreement is valid for a period of nine months, the company pointed out, adding that the...

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Sports | Wednesday 17 April, 2024 9:25 am

Esports World Cup to Feature Record-Breaking Prize Pool of More Than $60 Million

Esports World Cup Foundation (“EWCF”) has announced an unprecedented total prize pool of more than $60 million for the inaugural Esports World Cup (“EWC”) this summer in Riyadh, Saudi Arabia. This life-changing sum is the largest prize pool ever awarded at an esports tournament, shattering...

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Business & Money | Tuesday 16 April, 2024 11:47 am

ACWA Power receives the first Renminbi (RMB) loan from Bank of China to finance an Uzbekistan solar project

Saudi-listed ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, received an equity bridge loan from Bank of China worth $80 million to finance its Tashkent 200MW Solar PV and 500MWh BESS in Uzbekistan. The equity...

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Business & Money | Tuesday 16 April, 2024 11:44 am

Automotive aftermarket sales performance in Saudi Arabia is improving with a market value set to top US$9.4 billion by 2027

Automechanika Riyadh, Saudi Arabia’s leading trade show for the automotive aftermarket, will address the ongoing training needs for those within the industry when it returns to the Riyadh International Convention and Exhibition Center (RICEC) from 30 April to 2 May 2024. Taking place on the...

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Business & Money | Tuesday 16 April, 2024 11:37 am

Saudi Investment Recycling Company and SAP extend partnership with new deployment

The Saudi Investment Recycling Company (SIRC), wholly owned by the Public Investment Fund (PIF), has announced the successful deployment of solutions from global technology company SAP that will modernize business processes including procurement infrastructure and employee management. The two...

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Business & Money | Tuesday 16 April, 2024 9:44 am

2P awarded SAR 46M project from Umm Al-Qura University

Perfect Presentation for Commercial Services Co. (2P) was awarded a project for operating the Deanship of Information Technology at Umm Al-Qura University at a total value of SAR 46 million, including value-added tax (VAT), the company said in a statement to...

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Business & Money | Tuesday 16 April, 2024 9:37 am

Lana wins project with King Faisal Specialist Hospital for SAR 1.2M

Lana Medical Co. said it was awarded on April 15 the “medical and infectious waste transportation service” project at King Faisal Specialist Hospital & Research Centre in Madinah for 1,095 days. In a statement to Tadawul, Lana said it expects to sign the contract on May 1 and estimated ...

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Business & Money | Tuesday 16 April, 2024 9:30 am

Al Jouf Cement announces liquidation of EICO

Al Jouf Cement announced liquidating its subsidiary Eastern Industrial Co. (EICO), in which Al Jouf contributes 10% of its capital. The investment value amounts to SAR 136 million, including development expenses of SAR 6 million, the company said in a statement to Tadawul. If the liquidation...

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