Business & Money | Wednesday 18 February, 2026 12:11 pm

Red Sea unit signs SAR 175.9M contract

Red Sea International Co. announced that its subsidiary, Fundamental Installation for Electric Work Co. Ltd. (First Fix), signed a subcontract on Feb. 16 with Modern Building Leaders Co. (MBL) to execute mechanical, electrical, plumbing, and civil works for one of its projects in Riyadh. The...

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Business & Money | Wednesday 18 February, 2026 11:21 am

AYYAN inks MoU to set up private fund for SAR 600M project

AYYAN Investment Co. signed a non-binding memorandum of understanding (MoU) with Al Rajhi Capital and Sumou Holding Co. to establish a private real estate fund to develop a mixed-use project in Riyadh’s Al Janadriyah district, with an estimated value exceeding SAR 600 million. In a ...

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Business & Money | Monday 16 February, 2026 2:55 pm

SABIC inks raw materials supply deal for PIF-Pirelli tire manufacturing JV

Saudi Basic Industries Corp (SABIC) signed an agreement with the joint venture between the Public Investment Fund (PIF) and Pirelli Tyre S.P.A. (Pirelli) to supply raw materials, including butadiene rubber and carbon black. In a statement, the company stated that the project aims to...

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Business & Money | Monday 16 February, 2026 2:16 pm

SAUDI ARABIA LAUNCHES THE HUMAN CAPABILITY INITIATIVE CONFERENCE 2026 THEMED “THE HUMAN CODE,” UNITED KINGDOM NAMED COUNTRY OF HONOR

Saudi Arabia’s Human Capability Development Program (HCDP) today announced the third edition of the Human Capability Initiative (HCI) Conference, to be held on 03–04 May 2026 in Riyadh, bringing together global leaders to drive the future of human capability development under the theme “The...

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Business & Money | Monday 16 February, 2026 2:14 pm

Saudi Real Estate Refinance Company Signs Deal to Boost Residential Mortgage Market Stability

 The Saudi Real Estate Refinance Company (SRC), a Public Investment Fund (PIF) company, has signed a residential real estate finance portfolio purchase agreement with Saudi Awwal Bank (SAB).  The signing ceremony was attended by the Minister of Municipalities and Housing and SRC Board...

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Business & Money | Monday 16 February, 2026 1:37 pm

KHC says xAI revaluation increases NAV by SAR 11.6B

The recent merger between xAI and SpaceX will likely result in raising Kingdom Holding Co.’s (KHC) net assets value (NAV) by SAR 11.6 billion, compared to its investment in xAI’s carrying value in the most recent interim financial statements. In a statement to Tadawul, KHC said...

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Business & Money | Monday 16 February, 2026 1:36 pm

Saudi Arabia achieves 92% of labor strategy: HRSD minister

Saudi Arabia’s labor market system reached 92% of the targets set in the 2020 Labor Market Strategy, Minister of Human Resources and Social Development (HRSD) Ahmad AlRajhi said. Speaking with entrepreneurs in the Madinah region, AlRajhi said 2.5 million Saudis now work in the private...

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Business & Money | Monday 16 February, 2026 1:34 pm

DP World announces new leadership appointments

DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer. Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive...

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Business & Money | Monday 16 February, 2026 1:32 pm

UAE celebrates European energy, industrial partnership at Munich Security Conference

The UAE Embassy in Berlin, ADNOC, XRG, Masdar, and the Germany-UAE Business Council last night celebrated the UAE-European energy and industrial partnership at a reception on the sidelines of the Munich Security Conference. Hosted by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and...

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Business & Money | Monday 16 February, 2026 1:30 pm

ADNOC Group's listed companies report AED190.1 billion in revenues for 2025

ADNOC Group’s listed companies reported record financial results for the full year 2025, demonstrating sustained momentum across the Group’s integrated value chain and highlighting continued delivery against the growth and shareholder value commitments set out at the Company’s inaugural...

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