Business & Money | Thursday 1 January, 2026 11:07 am

SABIC EGM approves transferring SAR 110.9B general reserve to retained earnings

Shareholders of Saudi Basic Industries Corporation (SABIC) approved transferring SAR 110.9 billion from the general reserve to the retained earnings account, based on the 2024 consolidated financial statements and the financials for the period ended Sept. 30, 2025. The approval was granted at...

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Business & Money | Thursday 1 January, 2026 11:05 am

Fakeeh Care delineates acquisition cost of stake in Diagnostics Elite

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) and its subsidiaries stated that the total investment cost of acquiring a 50.01% ownership stake in Diagnostics Elite Co. amounts to SAR 70 million. The former owner of the stake was Soliman Abdul-Qader Fakeeh Real Estate Co. (Fakeeh Real...

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Business & Money | Wednesday 31 December, 2025 10:56 am

TAQA, EWEC announce financial closing for 1GW Al Dhafra Power Plant

Abu Dhabi National Energy Company PJSC (TAQA), together with Emirates Water and Electricity Company (EWEC), on Tuesday announced the financial closing of AED3.6 billion 1GW Al Dhafra Power Plant, which will provide power to data centre projects and advance the UAE National Strategy for Artificial...

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Business & Money | Wednesday 31 December, 2025 10:41 am

ADSW Summit 2026 to set stage for global systems transformation

Abu Dhabi Sustainability Week (ADSW) has announced the programme for the ADSW Summit 2026, focused on aligning government and industry leaders, investors and innovators to deliver system-wide action and accelerate sustainable progress. Under the ADSW 2026 theme “The Nexus of Next: All...

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Business & Money | Wednesday 31 December, 2025 10:39 am

Majra concludes 2025 with major sustainability, health, entrepreneurship initiatives

Majra –National CSR Fund concluded the fourth quarter of 2025 with a distinguished portfolio of achievements that underscored its continued evolutionary federal role in leading and structuring the corporate social responsibility ecosystem and the sustainable impact economy in the United Arab...

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Business & Money | Wednesday 31 December, 2025 10:39 am

International Defence Conference 2026 to spotlight intelligent autonomy, global security transformation in Abu Dhabi

The International Defence Conference (IDC) 2026 is set to take place on the eve of the seventh edition of the Unmanned Systems Exhibition and Conference (UMEX) and Simulation and Training Exhibition (SimTEX) 2026. Held under the patronage of H.H. Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan,...

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Business & Money | Wednesday 31 December, 2025 10:32 am

Alkhorayef Water wins SAR 155.1M project with Jeddah Municipality

Alkhorayef Water and Power Technologies Co. (AWPT) announced the award of a project with the Jeddah Municipality, with a total value of SAR 155.09 million, excluding value-added tax (VAT). In a statement to Tadawul, the company said it will carry out operation (cleaning) works for rainwater...

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Business & Money | Wednesday 31 December, 2025 10:24 am

Makkah Construction purchases land plot worth SAR 980M

Makkah Construction and Development Co. purchased a land plot in an auction, held in Makkah by Adeer Real Estate Co. on Sept. 30, for SAR 980 million, including commission fees and real estate tax. In a statement to Tadawul, the company said the land plot is located on Ajyad street, Makkah,...

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Business & Money | Wednesday 31 December, 2025 10:22 am

Masar inks MoU to set up private real estate fund with SAR 221M capital

Umm Al Qura for Development & Construction Co. (Masar) signed on Dec. 30 a non-binding memorandum of understanding to establish a real estate private fund. Al-Inma First Development Co. (SPV for Masar-owned Al-Inma Makkah Development Fund I) inked the deal with BIM Capital and Ajbal...

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Business & Money | Wednesday 31 December, 2025 1:01 am

Ban on property trading in Central, Southern AlUla lifted

The Royal Commission for AlUla (RCU) announced today, Dec. 29, the lifting of the suspension on the sale and purchase of land and real estate in Central and Southern AlUla, enabling the resumption of property transactions.   The decision is aimed to promote comprehensive and...

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