Business & Money | Wednesday 11 June, 2025 10:00 am

SEDCO Capital REIT board OKs Palm View acquisition for SAR 650M

SEDCO Capital, manager of the SEDCO Capital REIT Fund, announced that the fund’s board of directors signed a purchase agreement and completed the acquisition of Palm View office complex in Riyadh for SAR 650 million (excluding any acquisition-related fees). Located at Ad Diriyah, the...

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Business & Money | Wednesday 11 June, 2025 9:58 am

Cenomi Centers sells land plot in Al-Kharj for SAR 100M

Arabian Centres Co. (Cenomi Centers) announced the sale of a land plot to Saleh Mohammed Alsedairy in Al-Kharj city, located on the Riyadh-Al-Kharj Road, for SAR 100 million (excluding real estate transaction tax and brokerage fees). According to a statement on Tadawul, this transaction is...

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Business & Money | Wednesday 11 June, 2025 9:35 am

Wipro Strengthens Middle East Presence with New Regional Headquarters in Riyadh

 Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading AI-powered technology services and consulting company, announced the relocation of its Middle East regional headquarters from Al Khobar to Riyadh, Saudi Arabia. The new office in Riyadh was inaugurated in a ceremony attended by the ...

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Business & Money | Wednesday 11 June, 2025 8:44 am

Fitch expects M&A activity to accelerate in Saudi insurance sector

Fitch Ratings expects insurance market consolidation in Saudi Arabia to accelerate in the next two years, driven by tighter capital rules and weak underwriting profitability due to intense price competition. Some smaller insurers may struggle to meet new requirements or stay profitable,...

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Business & Money | Tuesday 10 June, 2025 4:13 pm

Saudi Arabia resumes Umrah visas for international pilgrims today

Saudi Arabia resumed today, June 10, issuing Umrah visas to international pilgrims, Ministry of Hajj and Umrah’s 2025-2026 Umrah calendar showed. The ministry will issue Nusuk Umrah permits starting June 11. In the Umrah season calendar, the ministry clarified that it will stop...

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Business & Money | Tuesday 10 June, 2025 4:04 pm

Saudi Electricity says operating plan of Hajj 2025 season ‘successful’

Saudi Electricity Co. (SEC) announced the “successful” completion of the operational plan for the Hajj 2025 season, with no power outages or emergency disruption affecting the public electrical grid in Makkah and the Holy sites. On its official X account, SEC said it registered the...

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Business & Money | Tuesday 10 June, 2025 3:58 pm

Saudi Arabia keen to support Syrian economy stability: Al-Falih

Minister of Investment Khalid Al-Falih emphasized the importance of creating a conducive environment to expand regional investment partnerships, the Saudi Press Agency reported. He also highlighted the Kingdom's commitment to supporting the stability and development of the Syrian economy to...

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Business & Money | Tuesday 10 June, 2025 3:57 pm

UAE participates in Indo Defence 2025 with National Pavilion showcasing over 90 defence products

The UAE is participating in Indo Defence 2025, held from 11 to 14 June at the Jakarta International Expo. The national pavilion is organised with the support of Tawazun Council and the Ministry of Defence, and as part of the ongoing efforts to enhance UAE’s global presence in the defence...

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Environment & Energy | Tuesday 10 June, 2025 3:54 pm

DEWA adds 800MW of clean energy production capacity to its energy mix in 2025

Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), announced that the total production capacity of the Mohammed bin Rashid Al Maktoum Solar Park has increased to 3,860 megawatts (MW), using photovoltaic (PV) solar panels and concentrated solar power (CSP)...

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Business & Money | Tuesday 10 June, 2025 3:52 pm

ENOC Group, DP World sign MoU to strengthen emergency response capabilities

ENOC Group and DP World have signed a Memorandum of Understanding (MoU) to enhance emergency and fire response capabilities across Dubai’s key energy and logistics infrastructure, through joint training, planning and coordination. The agreement was signed at the ENOC headquarters in Dubai by ...

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