BNPL firm Jeel Pay receives SAMA permit, boosting Saudi fintech

  • RIYADH: Saudi fintech startup Jeel Pay has obtained a permit from the Saudi Central Bank to provide buy-now-pay-later solutions.   Jeel Pay is a fintech firm that created a solution to streamline the payment and collection procedures within educational institutions. This decision ...
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MG Motor takes center stage at Riyadh Motor Show

  • MG Motor, the British-born brand, took center stage at the Riyadh Motor Show as they unveiled the new MG Whale for the first time globally, and unveiled the new MG7 regionally. Both launches showcased MG’s dedication to providing cutting-edge vehicles that resonate with the discerning tastes of...
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Saudia Cargo, Cainiao, and WFS partner to boost global logistics

  • With the growth of online shopping on a global scale, the need for efficient and innovative e-commerce logistics solutions is paramount. In response, Saudia Cargo, Cainiao, and Worldwide Flight Services — a member of the SATS Group — have announced that the three parties will reinforce and incr...
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Riyadh aims to transform into global sustainability hub by 2030 with $92bn Expo investment

  • DUBAI: Riyadh is poised to transform into one of the world’s most sustainable cities by the end of the decade, thanks to substantial investments earmarked to prepare the Saudi capital for the upcoming Expo 2030.   Saudi Vice Minister of Tourism Princess Haifa bint Muhammad Al-Saud a...
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ACWA Power CEO ‘confident’ of China deal in next few months

  • DUBAI: Energy company ACWA Power is getting closer to securing its first deal in China, the firm’s CEO Marco Arcelli told Arab News on the sidelines of the UN Climate Change Conference.  The Saudi-based firm has seen its ties with the Asian country grow in 2023, including signi...
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Innovative private sector must play its part in energy transition, business forum told at COP28

  • DUBAI: The private sector can no longer be on the periphery of energy transition efforts, Commonwealth Secretary-General Patricia Scotland has insisted on the sidelines of the UN Climate Change Conference.   Speaking at the Business Philanthropy Climate Forum — a first-of-its-kind e...
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Saudi Arabia extends voluntary oil cuts of 1m bpd until Q1 2024

  • RIYADH: Saudi Arabia on Tuesday decided to extend its voluntary crude output cuts of 1 million barrels per day until the end of the first quarter of 2024 in coordination with some OPEC+ members, the state-run Saudi Press Agency reported quoting an official source from the Ministry of Energy. ...
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PIF secures $5bn syndicated term loan covered by K-SURE 

  • RIYADH: Saudi Arabia’s Public Investment Fund has secured a term loan of $5 billion from a group of nine international lenders, covered by the Korea Trade Insurance Corp. This agreement signifies PIF's ongoing effort to diversify its funding sources in a strategic manner.  This fina...
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PIF’s ROSHN Group signs tech investments MoU with Hong Kong’s Tsangs Group  

  • RIYADH: Saudi Arabia’s technological investment landscape is poised for expansion as the Public Investment Fund’s ROSHN Group has entered into an agreement with Hong Kong’s Tsangs Group.   A memorandum of understanding marks a notable step in enhancing collaboration opportunities be...
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Saudi Arabia’s trade surplus with China soars by 257% in September

  • RIYADH: China maintained its position as Saudi Arabia’s primary trading partner in September, dominating both exports and imports, according to the latest data released by the General Authority of Statistics. The trade surplus with China soared to SR6.67 billion ($1.78 billion), reflecting a ...
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