Business & Money | Friday 15 December, 2023 1:35 am

MEDGULF inks contract to provide health coverage for SEC employees

The Mediterranean and Gulf Cooperative Insurance and Reinsurance Co. (MEDGULF) was awarded, on Dec. 13, a contract to provide health insurance services for Saudi Electricity Co.’s (SEC) employees and their dependents for one year.   The contract is valued at more than 30% of total...

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Business & Money | Friday 15 December, 2023 1:33 am

Hatta Customs Center: Over 50,000 Trucks Processed, Paving Way for Dubai's Progress

H.E. Ahmed Mahboob Musabih, Director General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation, paid a visit to the Hatta Customs Center. During the visit, he emphasized the importance of streamlining the movement of goods and travelers through the border crossing, highlighting its...

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Business & Money | Friday 15 December, 2023 1:31 am

Industry Minister meets with several Korean companies

Bandar Alkhorayef, Minister of Industry and Mineral Resources, concluded several bilateral meetings with executives of Korean companies operating in the industrial sector, and visited a number of factories in the cities of Ulsan and Changwon.   As reported by the Saudi News Agency,...

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Business & Money | Friday 15 December, 2023 12:57 am

Salik expands partnership with Careem; enables purchase of Salik tags and account recharge via Careem app.

Salik Company P.J.S.C., the exclusive toll gate operator in the Emirate of Dubai, is expanding its partnership with Careem, the region’s leading Everything App, to enable the delivery of Salik tags directly to customers via the latter's ultra-fast grocery service, Careem Quik. Careem Pay already...

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Business & Money | Thursday 14 December, 2023 2:18 pm

Thailand Mega Fair 2023: Impressive Opening Ceremony Unveils a New Chapter in Thai-Saudi Relations

the “Thailand Mega Fair 2023” commenced with a grand opening ceremony at The Arena Riyadh, marking a notable milestone in strengthening the cultural and economic ties between Thailand and Saudi Arabia. This inaugural event showcased Thailand’s rich culture and its potential for economic...

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Business & Money | Thursday 14 December, 2023 1:10 pm

Family Business Council Gulf Marks a Decade of Empowering GCC Family Businesses.

The Family Business Council-Gulf (FBCG), a preeminent organization dedicated to supporting GCC family businesses, commemorated its 10th anniversary by hosting the landmark 10th edition of its Annual Summit. Themed 'A Brave New World', the Summit in Riyadh was a convergence of leading family...

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Business & Money | Thursday 14 December, 2023 9:32 am

US Fed does not rule out another rate hike: Powell

Federal Reserve Chairman Jerome Powell said on Wednesday that the US central bank is moving forward cautiously despite the inflation rate declining significantly.   Inflation still remains elevated and the path forward is uncertain, he told a press conference.   He...

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Business & Money | Thursday 14 December, 2023 9:21 am

MESC renews credit facilities worth SAR 171M with banks

Middle East Specialized Cables Co. (MESC) renewed its Shariah-compliant credit facilities agreement worth SAR 171 million with Saudi Awwal Bank (SAB), Al Rajhi Capital, Arab National Bank, Banque Saudi Fransi, and Riyad Bank, the company said in a statement to...

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Business & Money | Thursday 14 December, 2023 9:16 am

Saudi Arabia to offer 250,000 jobs during Expo 2030: Minister

Al Khateeb, on the sidelines of the exhibition, added that the Kingdom will provide 1,000 hotel rooms.    The Kingdom managed to offer nearly 250,000 job opportunities during the last four years, reaching 850,000 currently, compared with 600,000 jobs offered since ...

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Business & Money | Thursday 14 December, 2023 9:12 am

Fed maintains rates, sees three-time cut in 2024

The Federal Reserve decided today, Dec. 13 to hold the interest rate steady for the third straight meeting and the fourth time since the start of the current tightening cycle in March 2022. The US central bank left its benchmark rate at a 22-year high of 5.25% to 5.50%. Fed officials...

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