DUBAI: Saudi Arabia-based asset management firm Sedco Capital has launched an additional offering of its real estate investment trust fund to increase asset value by SR702 million ($187 million), Arab News reported. The offering period will run for five days until December 16, the company said in a statement. The price is set at SR10/unit. Sedco Capital … Read more
Saudi Global Ports has agreed a deal to help double Riyadh Dry Port’s handling capacity to 1.5 million containers/annum by 2030, Arab News reported. The Public Investment Fund-backed SGP will work with the Saudi Railway Company to improve connections between the dry port and Dammam Seaport, where it operates the first and second container terminals. SGP will … Read more
RIYADH: Saudi Aramco has announced its entry into the kingdom’s domestic lubricants market with the launch of a new line of products, Arab News reported. The oil giant timed the Orizon® launch to coincide with the inaugural Saudi Arabian Formula 1 Grand Prix in Jeddah. The product line has been introduced in more than 20 cities, including … Read more
RIYADH: Saudi Arabia’s launch of its first women’s football league on Monday will clear the way for girls who dream of turning professional — and maybe even playing in a World Cup. Long condemned for harsh restrictions on women, Saudi Arabia lifted a decades-old ban on female footballers only a few years ago, and it is now aiming … Read more
RIYADH: The Saudi Ports Authority, or Mawani, has signed an agreement with Cruise Saudi and Globe Marine Services Company to develop a cruise terminal and berths at ports in Dammam and Yanbu, Arab News reported. Under the agreement, a new cruise terminal and two berths will be developed at the King Abdul Aziz Port in Dammam. Two … Read more
RIYADH: The Saudi Ministry of Energy announced a public tender for a licence to establish, own and operate a dry gas network in the Third Industrial City in Dammam in the eastern province, Arab News reported. The project includes a pipeline network from the connection point with Aramco, which provides dry gas, to all factories … Read more
Emirates has confirmed the resumption of services to Saudi Arabia, with St. Petersburg following on October 8th. Flights between Dubai and St. Petersburg will be operated four times per week, with daily flights beginning on October 21st. All flights will be operated in a three-class format on the Boeing 777-300ER. Emirates flights EK 173 and … Read more
