Business & Money | Monday 29 December, 2025 10:18 am

Saudi unemployment rate hits 7.5% in Q3 2025: GASTAT

Saudi Arabia’s unemployment rate among nationals rose to 7.5% in the third quarter of 2025, up from 6.8% in the second quarter, according to the Labor Force Survey released by the General Authority for Statistics (GASTAT), today, Dec. 29. The unemployment rate among Saudi males stood at...

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Government | Monday 29 December, 2025 10:11 am

SAMA directs to stop requesting promissory notes from individuals for credit card financing

The Saudi Central Bank (SAMA) directed finance companies to stop requesting promissory notes or any commercial paper from individual customers when offering credit card financing products. SAMA explained that this step comes after the recent spread of the practice of obtaining promissory notes ...

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| Sunday 28 December, 2025 9:45 am

Industrial land spanning 20M sqm under development in Riyadh: Alkhorayef

Minister of Industry and Mineral Resources Bandar Alkhorayef said that, with the support of the Crown Prince, Riyadh has been allocated new land covering a total area of 20 million square meters, which is currently being developed, noting that Riyadh currently does not have industrial land.This...

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Business & Money | Sunday 28 December, 2025 9:43 am

REGA refers developers of 14 real estate projects to Public Prosecution

Saudi Arabia’s Real Estate General Authority (REGA) referred developers of 14 real estate projects to the Public Prosecution after detecting violations, including engaging in off-plan sales and collecting funds from beneficiaries without obtaining the required licenses. The violations were...

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Business & Money | Sunday 28 December, 2025 9:04 am

ACWA Power signs SAR 1.5B desalination deal in Azerbaijan

ACWA Power Co. signed, on Dec. 27, a public-private partnership (PPP) agreement, along with several related agreements, to develop the first large-scale seawater reverse osmosis (SWRO) desalination plant in the Caspian Sea in Azerbaijan, valued at approximately SAR 1.5 billion ($400...

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Business & Money | Sunday 28 December, 2025 9:00 am

Umm Al Qura sells 2 land plots within Masar for SAR 228.4M

Umm Al Qura for Development and Construction Co., the owner, developer and operator of Masar Destination, sold two land plots within Masar for SAR 228.4 million, excluding any associated taxes and fees which are borne by the buyer.       ...

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Business & Money | Thursday 25 December, 2025 9:03 am

ACWA Power announces SAR 2B financial close for Ras Mohaisen IWP

ACWA Power Co. said Ras Mohaisen First Water Desalination Co. (Ras Mohaisen IWP) achieved financial close, with funds secured on Dec. 24 from a consortium of local and international banks comprising Banque Saudi Fransi (BSF), Riyad Bank, The Saudi Investment Bank (SAIB), and Standard Chartered...

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Business & Money | Thursday 25 December, 2025 8:25 am

Social Development Bank Highlights Strategic Partnerships and Global Initiatives at DeveGo 2025

The Social Development Bank (SDB) hosted the second edition of the Entrepreneurship and Modern Business Practices Forum, “DeveGo 2025”, from 21 to 23 December in Riyadh. Held under the patronage of His Excellency Eng. Ahmed bin Sulaiman Al Rajhi, Minister of Human Resources and Social...

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Business & Money | Thursday 25 December, 2025 8:00 am

BinDawood Holding to acquire 51% of Wonder Bakery for AED 96.9M

BinDawood Holding Co. signed a share purchase agreement on Dec. 23 to acquire a 51% stake in UAE-based Wonder Bakery LLC for AED 96.9 million, according to a statement to Tadawul. The acquisition value will be subject to certain adjustments in accordance with the terms of the agreement, which...

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Business & Money | Thursday 25 December, 2025 7:10 am

Al Rasheed to supply NESR with silica sand for over SAR 1.1B

Mohammed Hadi Al Rasheed and Partners Co. signed today, Dec. 24, a contract with National Energy Services Reunited Corp. (NESR) to supply high-quality silica sand, a key component used in non-conventional gas extraction operations at the Jafurah field. In a statement to Tadawul, the company...

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