Month: June 2015

Industrial Development Fund (IDF). Facilities and financing for more than 75% of the project cost

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Reading time: < 1 Minute  The Saudi Industrial Development Fund seeks to keep pace with the significant developments that have continued to take place in the industrial sector, and the government has worked to support its programs and projects in meeting the needs of the Kingdom’s industrial community by establishing ambitious plans and strategies that strengthen the future of industrial development. “We apologize for not funding a project for 40 years,” said Ali Al-Ayed, Director General of the Saudi Industrial Development Fund, adding that the fund had not… Read more

«Al-Bilad» Wins the Quality and Excellence Award in «Bank Transfers»

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Reading time: < 1 MinuteAl-Bilad Bank won the Quality and Excellence in Banking Operations Award presented by Standard Chartered Bank, in recognition of the bank’s outstanding operational performance in the area of wire transfers, thereby winning this prestigious award in its highest category for 2014. During a special reception held at Al-Bilad Bank’s headquarters in Riyadh, the Regional Director of Transaction Products … Read more

“Al Rajhi is the exclusive provider of banking solutions to the Ministry of Justice's Seizure and Execution Agency

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Reading time: < 1 MinuteAl-Rajhi Bank has been granted exclusive rights to provide its banking services and solutions to the Ministry of Justice, represented by the Ministry’s Agency for Seizure and Enforcement Affairs, and to manage accounts and banking transactions in accordance with the Ministry’s regulations and its Sharia and legal requirements, This follows the signing of an agreement with the Ministry of Justice. The agreement was signed at the Agency’s headquarters by the Undersecretary for Seizure and Enforcement Affairs, Sheikh Khalid bin Ali Al-Dawood, and the Director General … Read more

«Al Jazeera Capital harnesses its resources to qualify its cadres academically and professionally

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Island Captal

Reading time: < 1 MinuteAs part of the strategy adopted by «Al Jazeera Capital,» the investment arm of Al Jazeera Bank, it has worked to harness all available means to create an inspiring and innovative internal work environment that motivates its employees to take serious steps toward further development and practical innovation. This is achieved by developing and training its employees through numerous options and programs offered by the company, including sending new hires to study at the best universities in the Kingdom, as well as programs … Read more

The World Chambers of Commerce Conference in Italy ends its work with wide Saudi participation

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Reading time: < 1 Minute  With the attendance and participation of 1,500 business leaders representing more than 100 countries, the Council of Saudi Chambers, represented by its Secretary-General, Eng. Khalid Al-Otaibi, and representatives of the Kingdom’s major chambers of commerce and industry, participated in the 9th World Chambers Congress, which was recently held in Turin, Italy. Khalid Al-Otaibi emphasized the importance of this conference, noting that it represents a gathering … Read more

“SAPTCO” Signs a Three-Year Contract for Advertising on Its Buses

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Reading time: < 1 Minute  The A & B Commercial Group secured the advertising franchise on 1,440 buses following the signing of a contract with the Saudi Public Transport Company “SAPTCO,” granting the group exclusive rights to advertise on buses in the current public transportation network for a period of three years. On this occasion, Samia Al-Fadli, CEO of the Alif and Ba Group, explained that advertising on buses is considered … Read more

“Investment Fund acquires 38% from Korea's POSCO Engineering and Construction

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Reading time: < 1 Minute  In a deal valued at $1.1 billion, the Saudi Public Investment Fund signed an agreement to acquire 38% from the South Korean company POSCO Engineering & Construction, one of the world’s leading engineering and construction firms, specializing in the construction of factories, energy facilities, infrastructure, and urban development, and operating several international branches in emerging markets. Under the new deal, 38 percent will be transferred to … Read more

70 visitors per day at Dhahran Expo in the options of 8 developers and 4536 residential units

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Reading time: < 1 MinuteBeneficiaries of housing support in the Eastern Province who have finalized their housing options have begun flocking to the Dhahran showrooms to select suitable housing options from those on display, at a rate of 70 visitors per day, Meanwhile, the Ministry of Housing is verifying beneficiary data against the required documents before printing the beneficiary’s nomination form and finalizing the property selection. The housing projects, developed by eight companies, are being built on an area exceeding two million … Read more

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Reading time: < 1 MinuteReports from the Ministry of Housing exhibition—which kicked off last Sunday in Sharqia and will run for 40 days—indicated that, as of yesterday, the companies participating in the exhibition had signed 20 contracts out of the 43,000 eligible applicants who had expressed their willingness to purchaseapartments instead of villas and duplexes through the Ministry of Housing’s online portal. Well-informed sources stated that eight companies are offering their services to eligible applicants … Read more

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