| Saturday 22 July, 2023 7:26 am

GAC imposes SAR 10 mln penalty on SEPCO

The General Authority for Competition (GAC) announced imposing a penalty worth SAR 10 million on the Saudi Gulf Environmental Protection Co. (SEPCO) for violating the Competition law by abusing its dominant position in the market.   Based on initial indications, it was found that a...

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Business & Money | Saturday 22 July, 2023 7:23 am

Here's what you need to know about Real Estate Contributions Law

The Saudi Cabinet, chaired by King Salman, recently approved the Real Estate Contributions Law.   The official gazette Umm Al-Qura published today, July 21, the details of the law that aims to regulate real estate contributions, raise the level of transparency, as well as protect the ...

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Business & Money | Saturday 22 July, 2023 7:16 am

ACRSD issues SAR 1.2 bln fines on Dar Al Arkan traders for violations

The General Secretariat of the Committees for Resolution of Securities Disputes (GS-CRSD) announced the issuance of the Appeal Committee for the Resolution of Securities Disputes' (ACRSD) final decision in the public penal case filed by the Public Prosecution against some traders of Dar Al Arkan...

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Environment & Energy | Saturday 22 July, 2023 7:12 am

Aramco buys 10% stake in China's Rongsheng

Saudi Aramco announced today, July 21, successfully closed a landmark transaction to acquire a 10% interest in China’s Rongsheng Petrochemical Co. Ltd. for RMB 24.6 billion ($3.4 billion), through its subsidiary Aramco Overseas Company BV, based in the Netherlands.   In an...

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Technology & IT | Friday 21 July, 2023 12:51 am

Schneider Electric Partners with Intel and Applied Materials to Help Decarbonize the Semiconductor Value Chain with New Catalyze Program

Schneider Electric, the leader in the digital transformation of energy management and automation, today launched Catalyze, a new partnership program aimed at accelerating access to renewable energy across the globalsemiconductor...

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Government | Friday 21 July, 2023 12:44 am

Saudi Minister of Economy and Planning holds meetings with ministers and heads of delegations and IGOs at the High-level Political Forum 2023

His Excellency the Minister of Economy and Planning, Faisal F. Alibrahim, met with delegation leaders, ministers and heads of international organizations (IGOs) on the sidelines of the High-level Political Forum (HLPF) at the United Nations. These meetings enabled discussions about topics of common ...

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Business & Money | Friday 21 July, 2023 12:43 am

EIH Ethmar International Holding Acquires Stake in Nirvana Holding

EIH Ethmar International Holding PJSC and Nirvana Holding, two leading companies based in Abu Dhabi, have announced a strategic acquisition deal, through which EIH acquired a stake in Nirvana Holding. This acquisition aims to strengthen Abu Dhabi's position as a leading tourist destination and ...

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Culture & Education | Friday 21 July, 2023 12:43 am

DGDA and King Saud University Strengthen Their Partnership

Diriyah Gate Development Authority has signed a Memorandum of Understanding (MoU) with King Saud University to enhance cooperation between the two parties and collaboration on the future development of both masterplans. Signed by Jerry Inzerillo, GCEO of DGDA, and His Excellency Professor Dr....

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Healthcare | Friday 21 July, 2023 12:41 am

Tibbiyah signs MoU with Al-Hammad Medical for potential acquisition

Arabian International Healthcare Holding Co. (Tibbiyah) signed on July 19 a non-binding memorandum of understanding (MoU) with Al-Hammad Medical Services Co. for the potential acquisition of 100% of Al-Hammad’s shares.   The MoU will enter into force from its signing date and...

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Business & Money | Friday 21 July, 2023 12:37 am

PIF signs MoU with Japanese firm to explore green hydrogen projects

The Public Investment Fund (PIF) signed a non-binding memorandum of understanding (MoU) with Japan's JERA Co. to boost cooperation.   The move also aims to explore opportunities for developing green hydrogen projects, the fund tweeted.   Source : Argaam ...

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