Saudi Agricultural Exhibition witnesses signing of 16 agreements with investments exceeding $800mln
The activities of the day one of the 40th session of the Saudi Agricultural Exhibition, held under the patronage of Eng. Abdulrahman bin Abdulmohsen Al-Fadhli, the Minister of Environment, Water, and Agriculture, started today in Riyadh. The day witnessed the signing of 16 agreements, with investments exceeding SAR3 billion, and three memorandums of understanding for […]
Bahrain’s GFH acquires Saudi food services and logistics company for $133mln
Bahrain’s GFH Financial Group has confirmed it will acquire a Saudi Arabian food services and logistics business for SAR 500 million ($133 million). In a statement to Dubai Financial Market (DFM), GFH said the company had an enterprise value of SAR 500 million. Razi Al Merbati, CEO of GFH Capital S.A., said: “This transaction will […]
Saudi Arabia and Finland deepen cooperation in ICT to boost digital economy
Saudi Arabia and the Republic of Finland have signed a memorandum in ICT, with the aim of strengthening strategic partnership to support the digital economy growth and experiences exchange. The memorandum was signed by the Saudi Minister of Communications and Information Technology, Eng. Abdullah Alswaha, and by the Finnish Minister of Foreign Trade and Development, […]
Saudi, UAE investors plan to invest in SpaceX – The Information
A unit of Saudi Arabia’s investment fund and an Abu Dhabi-based company are planning to invest in a multi-billion dollar funding round for Elon Musk-led SpaceX, The Information reported on Wednesday, citing people familiar with the discussions. The funding round is expected to value the rocket maker at about $140 billion, the report added. SpaceX […]
Union Properties launches $436mln new project in Dubai Motor City
Financially troubled Dubai developer Union Properties, which completed a debt restructuring earlier this year, has launched a new project valued at around 1.6 billion dirhams ($436 million), its first new launch since 2015. The mixed-use development called Takaya will be located in Dubai Motor City, it said in a statement on Tuesday. Construction is expected […]
KSA and UAE is a partnership of possibilities
On UAE National Day, I would like to congratulate the leadership and the people of the UAE. Both Saudi Arabia and the UAE have a special relationship that extends across economic, social, and cultural areas. This connection is deep, mutually beneficial, and it is ever-growing. At the heart of our relationship is the conviction that […]