King Abdullah Economic City launches private car rental service

Part of King Abdullah Economic City in Jeddah. (File photo / AFP)
Updated 16 October 2018

King Abdullah Economic City launches private car rental service

JEDDAH: King Abdullah Economic City has launched the iDrive, a first-of-its-kind vehicle network in Saudi Arabia.
The new service will provide residents and visitors with the opportunity to rent cars through a special application, via smart devices, closest to their location.
“The service will enhance the city’s economic attractiveness and ease of movement, and will contribute to saving money, time and waiting times for public transport,” said Shadi bin Mohammed Ghumari, CEO of development and civil services at the economic city.
He said the service comes within the efforts of the economic city’s development of the public transport system, that embodies the Al-Haramain train, public transport service to and from Jeddah, highway networks associated with the Economic City, and the city’s transportation service.
Ghumari explained that the iDrive service is available in two tariffs; “Go” and “Super Go.”
No membership fee is required and fare charges start at SR5.
The price of the fare starts at less than 50 halalas per minute during the first 6 hours, then 0.0166 halalah per minute during the next six hours. It is then free for the rest of the day with a maximum distance of 200 kilometers.
He added that the “Super” plan offers more user features and comes with a membership fee of SR30 per month.
Ghumari said, as with the “Go” plan, the fare fee starts at SR5, however, with the upgraded plan, the fare starts from 0.3666 halala per minute during the first 6 hours of the trip, then 0.0166 halala per minute during the next six hours,
It is then free for the rest of the day with a maximum distance of 300 kilometers.


Tadawul index records highest close since July 2019 on Sunday

Updated 30 November 2020

Tadawul index records highest close since July 2019 on Sunday

  • Total trading reached $3.17 billion

Saudi Arabia’s benchmark Tadawul All Share Index (TASI) rose 0.2 percent, or 15 points, to end at 8,709 points on Sunday, the highest closing since July 2019.

Total trading reached SAR 11.9 billion ($3.17 billion), with the advance-decline ratio at 146:44.

SPIMACO rose 5.5 percent to SAR 43.05. The company signed a non-binding memorandum of understanding with German biopharmaceutical firm, CureVac, to provide COVID-19 vaccine in the Kingdom.

Electrical Industries closed 5.6 percent higher at SAR 24.26, as the firm completed the final phase of share buyback for SAR 7.2 million.

Naseej went limit up to close at SAR 33.

Oil giant Saudi Aramco fell 0.4 percent to SAR 35.75, while banking major Al Rajhi slipped 0.3 percent to SAR 74.

Blue chip SABIC edged down 0.3 percent to SAR 96.50.

Alandulas was the top decliner, shedding nearly 2 percent to SAR 21.08.

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