Business

Silicon Valley Bank’s former owner may need to take out a bankruptcy loan amid uncertainty about the US Federal Deposit Insurance Company’s seizure of $2 billion in cash from the company, its attorney said Wednesday. SVB Financial has…
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Chinese law enforcement officials have questioned staff of Bain & Company at the United States consulting giant’s Shanghai office. “We can confirm that the Chinese authorities have questioned staff in our Shanghai office,” a company…
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Saudi firms are increasingly playing an important role in driving the economy, with the share of local content continuing to rise in various sectors as the Kingdom’s diversification efforts gain momentum, revealed an annual report tracking…
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The sale of electric cars is expected to increase by 35 percent in 2023 to hit 14 million, up from the 10 million sold in 2022, as the world continues its drive toward a sustainable future, according to a report released by the…
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Sewage plants in Riyadh will benefit from an SR1.62 billion ($431 million) operation and maintenance contract handed out to Alkhorayef Water and Power Technologies Co. by the National Water Co.. AWPT sealed the 15-year contract to…
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India is planning to link its power grid with Saudi Arabia and the UAE through undersea cables, Indian media reported, citing Union Minister for Power and Renewable Energy Raj Kumar Singh. The report said that Singh’s ministry has…
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Reflecting the success of localization efforts, Saudis constituted 82.2 percent of the number of workers in the financial and insurance sectors in 2022. Saudi citizens who are working in financial and insurance activities reached 75,001,…
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Saudi Arabia came third place among the lowest-risk nations in the Middle East and Africa region in the fourth quarter of 2022, according to the GlobalData Regional and Global Risk Index. The index is a unique rating model that…
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Saudi chemical manufacturer SABIC has won five of the Edison Awards 2023, an honor given to the world’s most innovative new products and services. SABIC has been conferred these awards for its innovative solutions designed to meet the…
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Saudi Arabia has jumped 17 places to claim 38th rank in the World Bank’s Logistics Performance Index 2023, as the Kingdom consolidates its national logistics strategy to become a regional hub. This quick elevation comes within a very…
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