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Marriott International breaks ground for a Ritz-Carlton in Diriyah to launch in 2026
Saudi Arabia’s historic town Diriyah will get a new luxury property in 2026 as global hospitality giant Marriott International has begun constructing a Ritz-Carlton.
According to a statement, the Ritz-Carlton will feature 195 guestrooms,…
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Saudi wealth fund invests in Saudia Technic to boost its capabilities
Saudi Arabia’s Public Investment Fund on Thursday announced the signing of an agreement to invest in Saudia Technic, a subsidiary of Saudia Group.
Formerly known as Saudia Aerospace Engineering Industries, Saudia Technic provides…
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Saudi HR tech firm Scalers secures $1.8m investment
Saudi-based human resources technology startup Scalers secured SR7 million ($1.8 million) in a funding round led by Sadu Capital and Access Bridge Ventures.
The new investment will further accelerate the company’s market expansion as…
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Saudi Arabia’s NDMC closes December sukuk issuance at $2.81bn
Saudi Arabia’s National Debt Management Center concluded its riyal-denominated sukuk issuance for December at SR10.53 billion ($2.81 billion), marking an increase of 295 percent compared to the previous month.
In November, Saudi Arabia’s…
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Smart Interaction obtains Saudi license to offer finance integration services
Saudi fintech firm Smart Interaction has obtained a license to provide finance aggregation services in the Kingdom.
With approval from the Saudi Central Bank, the company has became the third authorized firm in the country to offer such…
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S&P elevates Tawuniya’s credit rating to ‘A’ with ‘Stable’ outlook
Saudi insurer Tawuniya’s credit rating has been upgraded from A- to A with a “Stable” outlook by S&P Global, citing an improved capital adequacy ratio.
The agency underscored that the key impetus for the change lies in Tawuniya’s…
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Mabanee’s subsidiary secured $1.16bn financing for real estate project ‘The Avenues Khobar’
Real estate firm Shomoul has secured a $1.16 billion deal with a consortium of banks to develop a mixed-purpose project in AlKhobar.
The company, a subsidary of Kuwait-based real estate company Mabanee, will fund the “The Avenues Khobar”…
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Riyadh Air inks deal with Accenture to boost technological capabilities
Saudi Arabia’s flag carrier Riyadh Air is enhancing its tech capabilities through a three-year agreement with global professional services company Accenture.
According to a press statement, the collaboration focuses on setting up a…
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Saudi Arabia saved $6bn through digital services, says official
Over a third of medical consultations in Saudi Arabia are done via digital channels, said Ahmed Al-Suwaiyan, governor of Digital Government Authority.
Speaking on the first day of the Digital Government Forum in Riyadh on Tuesday,…
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Saudi Arabia to facilitate mineral resources supply to Japanese industries
Industries in Japan are set to see a boost in mineral resources sourced from Saudi Arabia following high-level discussions with the minister of industry and mineral resources.
During an official visit to the East Asian country, Bandar…
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