Business & Money | Wednesday 10 April, 2024 5:26 am

Inbound containers rise 12.5% in March: MAWANI

The Saudi ports reported a 12.48% increase in the number of inbound containers to 265,148 TEUs in March, compared to 235,738 TEUs in the same month last year.   In a statement, the Saudi Ports Authority (MAWANI) said that outbound containers also rose by...

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Business & Money | Tuesday 9 April, 2024 1:38 am

Idle Lands Program says 332M sqm land invoiced in Q1 2024

The Idle Lands Program said that over 332 million square meters (sqm) of land were invoiced in the first and second phases during Q1 2024.   In a statement, the program said it discovered and registered more than 10 sqm of land within the declared areas of cities in the first and...

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Cars & Autos | Tuesday 9 April, 2024 12:34 am

China Southern Airlines to start regular flights between KSA, China on April 16: GACA

The General Authority of Civil Aviation (GACA) gave the go-ahead for China Southern Airlines to start regular flights between Saudi Arabia and China, as of April 16, Saudi Press Agency reported. The operational plan includes four passenger/commercial flights and three air cargo flights, GACA...

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Business & Money | Tuesday 9 April, 2024 12:12 am

GAC OKs Hadeed’s acquisition of Rajhi Steel

The General Authority for Competition (GAC) gave the go-ahead for economic concentration between Hadeed and Rajhi Steel.   The approval was made after reviewing Hadeed's request to fully acquire Rajhi Steel, GAC stated on its official X account, noting that the approval was based on...

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Business & Money | Monday 8 April, 2024 6:26 am

GCCIA mulls new projects to strengthen network: CEO

The Gulf Cooperation Council Interconnection Authority (GCCIA) is studying new projects to strengthen the internal network of the GCC countries and expand connection with Bahrain and Qatar, Al Eqtisadiah newspaper reported, citing CEO Ahmed Al-Ebrahim.   The projects are under study...

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Business & Money | Monday 8 April, 2024 6:23 am

MODON attracts investments worth SAR 14.45B in 2023

The Saudi Authority for Industrial Cities and Technology Zones (MODON) issued its annual report for 2023, which reviews the authority’s key achievements, most prominent works, initiatives and development projects to achieve sustainable industrial development and attract local and foreign...

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Business & Money | Monday 8 April, 2024 6:20 am

Saudi Arabia's real estate deals hit 1.03M in Q1 2023

The number of real estate transactions stood at 1.03 million in the first quarter of 2023, the Saudi Justice Ministry's data showed.   According to the ministry's data, the real estate transactions included registrations, compensations, amendments to old deeds, and...

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Business & Money | Sunday 7 April, 2024 7:52 am

Diriyah Gate delays evacuating properties in some neighborhoods

The Diriyah Gate Development Authority delayed the evacuation of vacated properties in Al Faisaliyyah neighborhood and some neighboring places within the scope of Diriyah Gate.   The remaining neighborhoods, Al-Nakheel, Al-Khuzama and Arqa, will be dealt with in accordance with the...

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Business & Money | Sunday 7 April, 2024 7:50 am

GCC funds in talks to acquire distressed Chinese developers: Paper

GCC investment funds are in talks to acquire distressed real estate development companies in China, capitalizing the Chinese government’s incentives and the real estate prices that hit their lowest level, Al Eqtisadiah newspaper reported, citing informed sources.   Independent...

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Business & Money | Sunday 7 April, 2024 7:48 am

IBM starts preparations for new center in Riyadh

US-based IBM started preparations for its new software development center in Riyadh, under the management of Gaya Magie, who relocated to Saudi Arabia to lead the new center, Al-Eqtisadiah newspaper reported.   Ayman AlRashed, Regional Vice President of IBM Saudi...

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