AI underpins 5GW Abu Dhabi solar project
Saturday, January 18,2025,03:07

The project provides a glimpse of the scale of Abu Dhabi's AI ambitions .. read more..

L&T and PowerChina to build Abu Dhabi solar and battery megaproject
Saturday, January 18,2025,03:07

Jinko Solar and JA Solar will supply modules while CATL will supply battery equipment .. read more..

Bahrain: Property insurance services
Saturday, January 18,2025,03:07

Provision of property insurance services .. read more..

Gaza ceasefire deal appears within sight
Saturday, January 18,2025,03:07

Pressure from Trump amid US presidential transition renews efforts to end 14-month conflict .. read more..

Egypt's construction sector set for significant growth
Saturday, January 18,2025,03:07

GlobalData forecasts an annual average growth rate of 7.6% between 2025 and 2028 .. read more..

Nakheel signs up architectural firms for Palm villas
Saturday, January 18,2025,03:07

The bespoke five- and six-bedroom villas will range from 7,300 square feet to 8,500 square feet .. read more..

‎ACWA Power wins desalination plant project in Azerbaijan
Friday, January 17,2025,18:02

‎ A consortium, including ACWA Power Co. and Turkey's IC Ictas, won a project from the government of Azerbaijan to build a seawater desalination project using reverse osmosis technology in the Caspian Sea. In a statement, ACWA Power said the project is to establish a facility capable of producing 300,000 cubic meters of water per day at the Sumgait Chemical Industrial Park. The agreement outlines a 27.5-year duration for the project, after which the plant's management will be transferred to Azerbaijan. The project's goals are to meet the growing demand for drinking water in Baku and on the Absheron Peninsula, the company said. ACWA Power won the deal after a competitive bidding process co... .. read more..

‎MODON signs deals worth over SAR 2.3B
Friday, January 17,2025,16:05

‎ Logo of Saudi Authority for Industrial Cities and Technology Zones (MODON) The Saudi Authority for Industrial Cities and Technology Zones (MODON) signed industrial contracts worth over SAR 2.3 billion during the Future Minerals Forum (FMF). The agreements aim to empower the mining industries in line with the Kingdom's Vision 2030, which seeks to make the mining sector the third pillar of the national industry, according to the state-run SPA. The contracts include the allocation of an industrial land plot spanning over 205,000 square meters (sqm) in the Dammam Third Industrial City, with an investment of SAR 1.3 billion in localizing the aluminum wafer industry. This is one of the comple... .. read more..

‎Aramco tops world’s most profitable companies
Friday, January 17,2025,15:39

‎ The technology, energy, and financial sectors dominated the list of the world's most profitable companies in 2024, led by Saudi Aramco that outperformed Apple, according to a report by Visual Capitalist. A select group of corporate titans continues to dominate the financial landscape, generating profits that dwarf the GDPs of some nations, based on data from Fortune. Figures represent corporate profits after tax, extraordinary credits, and non-controlling interests for company fiscal years ended on or before March 31, 2024. Saudi Aramco was the world’s most profitable company in 2024. The national oil company of Saudi Arabia was also the sixth-largest company in the world by market capi... .. read more..

Aramco allows extra time for three offshore tenders
Friday, January 17,2025,12:35

The three tenders are CRPO numbers 158, 159 and 160, and relate to the EPCI of key structures at various offshore oil and gas fields in Saudi Arabia .. read more..

Dentons advises Metito Utilities acquisition
Friday, January 17,2025,12:35

TAEF and Zamil Group Investments Company acquired a 60% stake in the company .. read more..

Masdar to develop 1GW of projects in the Philippines
Friday, January 17,2025,12:35

The projects support the Southeast Asian nation’s 35% renewable energy target by 2030 .. read more..

Saudi-Turkiye relationship could bolster projects market
Friday, January 17,2025,12:35

The officials from Saudi Arabia and Turkiye held political consultations in Ankara recently .. read more..

Philippines deal shows extent of Masdar ambitions
Friday, January 17,2025,12:35

The Southeast Asian nation's energy transition requires strong private sector support .. read more..

Kuwaiti firm launches $953m Sharjah Al-Tay Hills project
Friday, January 17,2025,12:35

The first phase of the project is expected to be completed in 2028 .. read more..

Egyptian firm unveils $233m Sultan Haitham City project
Friday, January 17,2025,12:35

The Wadi Zaha neighbourhood will span 420,000 square metres in Sultan Haitham City .. read more..

‎Oil prices set for fourth straight weekly gain
Friday, January 17,2025,10:48

‎ Oil drilling rigs Oil prices rose on Friday, heading for the fourth straight weekly gain, driven by the fresh US sanctions that affected Russian supplies. Brent crude futures for March delivery rose 0.43%, or $0.31, to $81.60 a barrel at 9:24 am Makkah time. Meanwhile, futures prices for US West Texas Intermediate (WTI) crude for February delivery increased 0.62%, or $0.49, to $79.17 per barrel. Both contracts are set to record weekly gains of nearly 2.5% and 3.6%, respectively. The primary driver of oil prices throughout the week was the US broad sanctions against Moscow last Friday, targeting 183 oil tankers, known as the Russian "shadow fleet," in addition to two major crude oil prod... .. read more..

‎126 agreements, MoUs worth SAR 107B signed at FMF
Friday, January 17,2025,10:37

‎ Signing ceremony The fourth edition of the Future Minerals Forum (FMF), held in Riyadh, witnessed the signing of 126 agreements and memorandums of understanding (MoUs) worth SAR 107 billion. The agreements aim to enhance exploration, mining, financing, research and development, innovation, sustainability, value-added chains, and the metals industry, the state-run SPA reported. A MoU was signed between the Royal Commission for Jubail and Yanbu (RCJY) and Tosyali Arabia to establish a fully integrated flat steel production plant in Ras Al-Khair Industrial City. The project aims to enhance the steel sector and boost export capabilities. An agreement was signed with Vale to produce iron ore... .. read more..

‎Maaden in talks with banks over international bond sale: CEO
Friday, January 17,2025,10:23

‎ Bob Wilt, CEO of Saudi Arabian Mining Co. (Maaden) Bob Wilt , CEO of Saudi Arabian Mining Co. ( Maaden ), said the company is considering an international bond sale this year to help fund a more than $12 billion investment program through to the end of the decade. Maaden is already in talks with banks over the potential issuance and will make a decision on proceeding with the financing later this year, Bloomberg reported, citing the CEO. Wilt noted that the company is going to spend on average $2.5 billion a year over the next five years in growing its phosphates, aluminum, as well as gold and base metals business. “We want to be able to maintain our ability to deploy capital efficientl... .. read more..

‎US stocks turn lower, hit by techs
Friday, January 17,2025,10:19

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‎Energy Minister: Saudi aims to extract every ounce of its resources
Friday, January 17,2025,09:49

‎ Prince Abdulaziz bin Salman,Minister of Energy Minister of Energy Prince Abdulaziz bin Salman said energy security, affordability, and sustainability depend on urgent, collective, and comprehensive efforts to address the challenges of critical minerals. In his speech at the Future Minerals Forum, the minister said Saudi Arabia is determined to extract every ounce, gram, particle, atom, and electron of its resources. "This is my cause, and I am its advocate. I firmly believe in it," the minister confirmed. .. read more..

Masdar and Beeah sign Sharjah WTE phase two
Friday, January 17,2025,06:36

Emirates Waste to Energy inaugurated the plant's first phase in 2022 .. read more..

Diriyah seeks firms for infrastructure package
Friday, January 17,2025,06:36

Located northwest of Riyadh’s city centre, it spans 14 square kilometres .. read more..

UAE high-speed rail bidders revealed
Friday, January 17,2025,06:36

Contractors are bidding for the upcoming design-and-build works packages for the UAE high-speed railway (HSR) project .. read more..

‎Rio Tinto, Glencore mull to form world's biggest mining JV
Thursday, January 16,2025,22:27

‎ Rio Tinto Group and Glencore Plc have been discussing combining their businesses, which if successful would rank as the world's largest-ever mining joint venture (JV), Bloomberg reported, citing sources familiar with the matter. It’s unclear whether the talks are still live, the sources added. Rio Tinto is the world’s second-biggest miner, with a market value of about $103 billion, while Glencore was valued at about $55 billion. The deal, if successful, would create a behemoth to rival longstanding leader BHP Group that is valued at around $126 billion. Following the report, Glencore's depositary receipts (DRs) in the US surged by 6.65% to $9.62, while Rio Tinto's DRs fell by 2.15% to $... .. read more..

New Lebanese PM raises political hopes
Thursday, January 16,2025,20:17

Appointment of jurist Nawaf Salam as prime minister brings credible prospect of political and economic rehabilitation in Lebanon .. read more..

‎Exploration Enablement Program begins to show positive impact
Thursday, January 16,2025,19:28

‎ Khalid Al-Mudaifer, Vice-Minister of Industry and Mineral Resources for Mining Affairs The Exploration Enablement Program (EEP), launched by Saudi Arabia last year with a budget of SAR 685 million,started to deliverpositive results, benefiting 17 companies to date, according to Khalid Al-Mudaifer,Vice-Minister of Industry and Mineral Resources for Mining Affairs. In an interview with Argaam during the Future Minerals Forum (FMF), Al-Mudaifer explained that exploration requires substantial upfront investments with long-term returns. Initiatives like the program encourage companies to invest in Saudi Arabia's mining sector. He went on to say that the Kingdom is solidifying its status as a... .. read more..

‎AMAK to quadruple exploration spending in 2025
Thursday, January 16,2025,18:43

‎ Almasane Alkobra Mining Co. ( AMAK ) plans to quadruple its exploration spending in 2025 compared to 2024, while continuing to raise the company’s operational efficiency in 2026 to ensure delivering the targeted returns, said CEO Geoffrey MacDonald Day . “We'll spend about four times more in exploration in 2025 than we did in 2024,” he said. The company’s exploration licenses rose to 25, compared to two licenses five years ago, he told Argaam , during the Future Minerals Forum. AMAK’s three newly-obtained exploration licenses cover base, precious and industrial metals, which reflects the significant growth in the company’s operations, he added. According to the top executive, exploratio... .. read more..

‎Al-Jouf Mineral Water board proposes stock split to SAR 0.5
Thursday, January 16,2025,17:28

‎ Logo ofAljouf Mineral Water Bottling Co. Al-Jouf Mineral Water Bottling Co. 's board of directors recommended splitting the stock nominal value from SAR 10 to SAR 0.5, according to a statement to Tadawul today, Jan. 16. Under the proposed stock split, the company’s share capital will rise to 93.75 million from 4.69 million currently. For more news on listed companies Al-Jouf Mineral Water is committed to completing the necessary related procedures, noting that any updates will be announced in due course. Stock Split Details Current Capital SAR 46.88 mln Current Number of Shares​ 4.69 mln Current Par Value​ SAR 10/share New Capital SAR 46.88 mln New Number of Shares 93.75 mln Post-Stock ... .. read more..

‎GACO announces updates on lawsuit against MEWA
Thursday, January 16,2025,17:17

‎ Logo of Al Gassim Investment Holding Co. (GACO) Al Gassim Investment Holding Co. ( GACO ) announced today, Jan. 16, recent updates on the filing of a lawsuit against Ministry of Environment, Water and Agriculture (MEWA) to claim the remaining revived area. In a statement to Tadawul , the company said it received from its lawyer today the ruling of the Administrative Court in Riyadh, which entailed the annulment of the dispute resolution committee on fallow lands’ decision. For more news on listed companies The ruling is subject to appeal within 30 days, it added. In December 2024, the company said the Administrative Court of Appeal ruled to accept its appeal against MEWA over the revive... .. read more..

‎Musharaka REIT falls to lowest since debut
Thursday, January 16,2025,16:30

‎ Tadawul trading screen Units of Musharaka REIT Fund fell today, Jan. 16, to their lowest level since listing, data compiled by Argaam showed. Unit Price Fund Price (SAR)* Performance in 1-year Musharaka REIT 4.49 (20%) *The lowest price during the session, but not the current trading price. For stock prices and market data .. read more..

‎10% increase in production costs on fuel price changes: Northern Cement
Thursday, January 16,2025,16:14

‎ Logo ofNorthern Region Cement Co. Northern Region Cement Co. announced that the direct financial impact as a result of the adjustment of fuel product prices by Saudi Aramco is estimated to be an approximately 10% increase in production costs. In a statement to Tadawul today, Jan. 16, the company said it will work in the coming period to explore ways to mitigate the financial impact of this price adjustment, pointing to its ongoing plans to reduce costs and enhance production and operational efficiency. For more news on listed companies The company also highlighted its participation in the Industrial Sector Competitiveness Program starting from 2024, which is expected to help reduce this... .. read more..

‎TASI rises 0.4% to 12,256 pts, records highest close in 4 months
Thursday, January 16,2025,15:34

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‎RCJY cities host SAR 185B in mining investments: Al-Salem
Thursday, January 16,2025,14:54

‎ Khalid Al-Salem, Royal Commission for Jubail and Yanbu (RCJY)President Investments in the mining sector and related materials across the cities of the Royal Commission for Jubail and Yanbu (RCJY) currently total SAR 185 billion, according to RCJY President Khalid Al-Salem. Speaking to CNBC Arabia, Al-Salem highlighted that Yanbu and Jizan are poised to attract significant investment in the future due to their proximity to the Arabian Shield region, as Saudi Arabia intensifies efforts to promote exploration in the region. Al-Salem also noted the RCJY's commitment to supporting industrialization and manufacturing within the mining sector. The commission is exploring solutions such as secu... .. read more..

‎Details of Saudi self-sufficiency ratio for key agricultural products
Thursday, January 16,2025,13:56

‎ An Agricultural reserve The General Authority for Statistics (GASTAT) recently issued its 2023 Agricultural Statistics Report, outlining self-sufficiency ratio (SSR) for key agricultural products. Shrimp recorded the highest self-sufficiency rate among animal products at 147% in 2023. Dairy products followed at 129%, while the rate for fish stood at 48% for the same period. Animal Products SSR-2022 Product SSR Shrimp 147 % Dairy 129 % Eggs 100 % Poultry 71 % Red meat 61 % Fish 48 % read more..

‎Umm Al-Qura Cement scales to 52-week high
Thursday, January 16,2025,11:54

‎ Tadawul trading screen Shares of Umm Al-Qura Cement Co. ( UACC ) hit their highest levels in 52 weeks today, Jan. 16, data compiled by Argaam showed. Stock Price* Company Price (SAR) Performance in 52 weeks Umm Al-Qura Cement 18.90 14% *The highest price during the session, but not the current trading price. For stock prices and market data .. read more..

‎Nomu: Saudi Top notches 52-week high
Thursday, January 16,2025,11:40

‎ Nomu trading screen Shares of Tadawul -listed Saudi Top Trading Co. hit their highest level in 52 weeks today, Jan. 16, data compiled by Argaam showed. Stock Price* Company Price (SAR) Performance in 52 weeks Saudi Top 7.76 10% *The highest price during the session, but not the current trading price. For stock prices and market data .. read more..

‎Nomu: Lana, Almuneef hit highest level since debut
Thursday, January 16,2025,11:37

‎ Nomu trading screen Shares of Lana Medical Co. and Almuneef Company for Trade, Industry, Agriculture and Contracting hit their highest level since listing on the Nomu-Parallel Market today, Jan. 16, data compiled by Argaam showed. Stock Price* Company Price (SAR) Performance​ Lana 61 79% Almuneef 7.10 27% *The highest price during the session, but not the current trading price. For stock prices and market data .. read more..

‎Riyad Bank sees 2 negotiated deals worth SAR 37.7M
Thursday, January 16,2025,11:27

‎ Tadawul trading screen The Saudi Exchange ( Tadawul ) witnessed today, Jan. 16, two negotiated deals worth SAR 37.7 million on Riyad Bank , as shown below: Details Company Stock Price (SAR) Negotiated Price (SAR) Shares Traded Deal Value (SAR mln) Riyad Bank 28.50 28.50 1 , 000 , 000 28.50 321 , 739 9.17 For more details on negotiated deals A negotiated deal involves a stock purchase based on an agreement between buyers and sellers, apart from the market price. The negotiated dealis executedunder the control of Tadawul and in adherence to the relevant capital market laws and regulations. The negotiated deal does not directly impact the last deal price,highest/loweststock price, opening/... .. read more..

TAEF-led team completes Metito Utilities deal
Thursday, January 16,2025,11:22

The former Apicorp, along with Riyadh-based Zamil Group and the Ghandour family, acquires 100% of the water and wastewater developer .. read more..

US AI chip restriction impact on GCC uncertain
Thursday, January 16,2025,11:22

The region’s data centre construction market is projected to reach $4.39bn by 2029 .. read more..

Ras Al-Khaimah to award wastewater contract this year
Thursday, January 16,2025,11:22

The Rakwa project entails the development of a 60,000 cm/d wastewater treatment plant .. read more..

‎ZATCA seeks public input on Zakat for off-plan sales
Thursday, January 16,2025,11:11

‎ Logo ofZakat, Tax, and Customs Authority (ZATCA) The Zakat, Tax and Customs Authority (ZATCA) proposed an amendment to the executive regulations for Zakat collection to poll opinions on Istitlaa platform until Jan. 29, 2025. It suggested adding a paragraph that addresses the mechanism for calculating Zakat on off-plan sales projects according to a treatment that considers the nature of these projects. ZATCA said that the purpose of the amendment is to clarify the Zakat treatment of off-plan sales projects. ZATCA suggested adding the third paragraph to Article 73 of Real Estate Projects Under Construction, stipulating that Zakat on off-plan sales projects must be treated as follows: - Of... .. read more..

‎US stocks rise nearly 2% at close, Dow Jones adds 700 points
Thursday, January 16,2025,10:26

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‎Maaden to develop 3rd phosphate fertilizer project
Thursday, January 16,2025,09:58

‎ Saudi Arabian Mining Co. (Maaden)headquarter Saudi Arabian Mining Co. ( Maaden )signed contracts worth SAR 3.5 billion for the development of its third phosphate fertilizer manufacturing project, according to a statement on Tadawul . The contracts include a SAR 1.22 billion ($325 million) agreement for general construction works in Ras Al Khair with the branch of China National Chemical Engineering Co. Ltd. (CNCEC). In Wa’ad Al Shamal, Maadenconcludeda SAR 1.36 billion ($363 million) general construction contract covering SAP, PAP, and OSBL facilitieswiththe branch of Sinopec Nanjing Engineering Co., Ltd. (SEG Nanjing). Additionally, a SAR 877 million ($234 million) general construction... .. read more..

Adnoc Gas selects contractors for fifth Ruwais NGL train project
Thursday, January 16,2025,09:42

The selected contractors will engage in an engineering design update competition as part of the project to add a fifth natural gas liquids fractionation train at the Ruwais complex .. read more..

‎MEPCO parts ways with CEO, names new one
Thursday, January 16,2025,09:29

‎ Middle East Paper Co. (MEPCO)headquarter Middle East Paper Co. ( MEPCO ) terminated its CEO, Rob Jan Renders , while he will continue as a non-executive board member, according to a statement to Tadawul . For more news on listed companies Meanwhile, the company’s board of directors decided, on Jan. 15, to appoint Faisal Alawi Haddawi as CEO, effective Feb. 16. Haddawi has over 15 years of experience in C-suite roles. Previously, he served as the CEO in the industrial sector, where he demonstrated a remarkable ability to drive growth, optimize operations and deliver strategic transformation. He holds a master’s degree in business administration from Manchester Business School and a bache... .. read more..

AI needed by struggling electricty infrastructure
Thursday, January 16,2025,09:22

Former BP CEO chairs Hyperscale Prometheus which aims to address AI energy intensity .. read more..

‎ANB issues SAR-denominated additional Tier 1 capital sukuk
Thursday, January 16,2025,09:17

‎ Logo ofArab National Bank (ANB) Arab National Bank ( ANB )commenced the issuance of SAR-denominated additional Tier 1 sukuk through a private placement in Saudi Arabia. For more news on listed companies In a statement on Tadawul , the lender said that the sukuk value and offer terms will be determined at a later date, subject to market conditions. Sukuk Issuance Details Offer Type Private placement of SAR-denominated additional Tier 1 capital sukuk Offer Value To be determined as per market conditions Start Date Jan. 16, 2025 End Date Jan. 27, 2025 Target Class Institutional and qualified clients as defined by the Capital Market Authority Lead Manager HSBC Saudi Arabia and ANB Capital w... .. read more..

‎Batic unit signs framework deal with Rua Al Haram Al Makki
Thursday, January 16,2025,09:11

‎ Logo of Batic Investments and Logistics Co. Batic Investment and Logistics Co. ’s subsidiary, Arabian Security and Safety Services Co. ( AMNCO ), signed, on Jan. 15, a three-year framework purchase orders agreement with Rua Al Haram Al Makki Co. following an agreement between the parties. For more news on listed companies In a statement to Tadawul , the company said that the agreement covers the provision of private civil security services, adding that the contract value will be based on the price list included in the framework agreement. The agreement will have a positive financial impact on the company, which will be reflected starting from the date of receipt of the first purchase or... .. read more..