Modon launches women training center in Riyadh

Modon launches women training center in Riyadh
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Updated 12 September 2021

Modon launches women training center in Riyadh

Modon launches women training center in Riyadh
  • The authority supports 14 public and private institutions and training centers

 

RIYADH: Modon, the Saudi Authority for Industrial Cities and Technology Zones, in cooperation with KAFO has opened a training center in Riyadh for women in the industrial sector.
KAFO, a nonprofit organization working for women empowerment, and the authority had previously signed a memorandum of cooperation to enhance Saudi women’s skills, help create an appropriate environment for them in the industrial cities and provide services to ensure their job stability.
Modon CEO Khalid Al-Salem said the strategic partnership between the two parties is aimed at developing the role of Saudi women in the national economy.
He said the authority supports 14 public and private institutions and training centers.
Al-Salem added the cooperation between Modon and KAFO is a testimony to the enhanced role of the nonprofit sector in the industrial cities, which is one of the many goals of Vision 2030.
The number of industrial cities in the Kingdom has risen by 120 percent in the last five years from 7,860 to nearly 17,000.


Saudi imports from UAE jump back up in August

Saudi imports from UAE jump back up in August
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Updated 9 sec ago

Saudi imports from UAE jump back up in August

Saudi imports from UAE jump back up in August
  • On an annual basis, UAE imports increased by about 47 percent

The value of Saudi Arabia's imports from the United Arab Emirates (UAE) in August increased by about 31 percent month on month, official data showed on Monday, jumping back from a steep decline in July after the kingdom imposed new rules on imports from other Gulf countries.


Imports from neighbouring UAE rose to 4.1 billion riyals ($1.09 billion) from 3.1 billion riyals in July, according to data from the General Authority for Statistics.

On an annual basis, UAE imports increased by about 47 percent.


The monthly increase follows a 33 percent decline in July, when Saudi Arabia amended rules on imports from other Gulf Cooperation Council (GCC) countries to exclude goods made in free zones or using Israeli input from preferential tariff concessions, a move seen as a challenge the UAE's status as the region's trade and business hub.


Aramco and TotalEnergies launch first two service stations in Saudi Arabia

Aramco and TotalEnergies launch first two service stations in Saudi Arabia
Updated 6 min 51 sec ago

Aramco and TotalEnergies launch first two service stations in Saudi Arabia

Aramco and TotalEnergies launch first two service stations in Saudi Arabia

RIYADH: Saudi Aramco and TotalEnergies have launched the first two service stations of their joint retail network in Riyadh, Saudi Arabia’s capital, and Saihat, in the country’s Eastern Province.

"It follows the signing of a 50:50 Joint Venture (JV) Agreement between Aramco and TotalEnergies in 2019, with plans to  significantly upgrade a network of 270 service stations and expand the range of quality retail services available across the Kingdom," Aramco said in a statement.

 


Saudi mining company, Maaden, turns into profit in first 9 months of 2021

Saudi mining company, Maaden, turns into profit in first 9 months of 2021
Updated 44 min 1 sec ago

Saudi mining company, Maaden, turns into profit in first 9 months of 2021

Saudi mining company, Maaden, turns into profit in first 9 months of 2021

RIYADH: Saudi Arabian Mining Co. (Maaden) has reported a net profit of SR3.1 billion ($826 million) in the first nine months of 2021, compared to a net loss of SR780 million a year ago, it said in a filing. 


Softbank Vision Fund, Mubadala invest in European mobility company TIER

Softbank Vision Fund, Mubadala invest in European mobility company TIER
Updated 53 min 31 sec ago

Softbank Vision Fund, Mubadala invest in European mobility company TIER

Softbank Vision Fund, Mubadala invest in European mobility company TIER

DUBAI: TIER, Europe’s micro-mobility company, announced the first close of its $200 million Series D funding round led by previous investors SoftBank Vision Fund 2, Mubadala Capital and adds new partners like M&G Investments, a green impact fund, and Mountain Partners, a diversified global investment holding.

The company, which entered the UAE market in 2020 after being selected as a leading service provider by the Roads & Transport Authority (RTA), said in a statement that the funding provides TIER with additional resources to fulfil its mission to "change mobility for good by providing the safest, most equitable and sustainable mobility solution in the market."


Telecom Zain KSA profits drop 36% for first 9 months of 2021

Telecom Zain KSA profits drop 36% for first 9 months of 2021
Updated 25 October 2021

Telecom Zain KSA profits drop 36% for first 9 months of 2021

Telecom Zain KSA profits drop 36% for first 9 months of 2021
  • The decline is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent, the company said in a bourse filing. 

DUBAI: Saudi telecom firm Zain KSA posted a net profit of SR143 million ($38.1 million) in the first nine months of 2021, a 36 percent drop from the same period last year. 

The decline is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent, the company said in a bourse filing. 

Lowering operating expenses and the results of the capital restructuring last year helped compensate for the fall, it added.