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441 - 450 from 16580 . In "BUSINESS"
Saudi Electricity Company gains regulatory approval for increased weighted average cost of capital
The Saudi Electricity Company (SEC) has received approval for a new regulated weighted average cost of capital (WACC) of 6.65% for the regulatory period 2024-2026. This marks an increase from the previous 6% WACC, covering the period from 2021 to 2023. The approval was granted by the Minister of Energy, who is also the Chairman of the Ministerial Committee for the Restructuring of the Electricity Sector and SEC.This upward adjustment in WACC reflects an anticipated positive impact on SEC's revenues due to the growth of the regulated asset base and supports the company's financial sustainability and future growth prospects. This will enhance SEC's ability to deliver electricity services with high levels of efficiency and reliability. Additionally, the Mudaraba Agreement with the...
April 30, 2024

Saudi Electricity Company gains regulatory approval for increased weighted average cost of capital

HONOR opens two HONOR exclusive service centers in Saudi Arabia to bring better customer experience
Global technology brand HONOR announced the HONOR Authorized Service Center in Riyadh & HONOR Jeddah Service Center on 25th April 2024. These HONOR exclusive service centers in the MENA region, will help to cater to the needs of customers in the Kingdom. Customers will be able to either send in their products for repairs or visit the service centers for a walk-in appointment. Both centers will provide services and support for all HONOR Products, including product repair, screen protector application, system upgrades, and any other necessary service activity.The opening of HONOR Authorized Service Center in Riyadh and HONOR Jeddah Service Center reinforces HONOR’s commitment to the MENA region, and its plans to continue providing expert customer service and product support. The Kingdom of...
April 28, 2024

HONOR opens two HONOR exclusive service centers in Saudi Arabia to bring better customer experience

L'Oréal dermatology conference emphasizes sustainability in Riyadh edition
The fifth edition of L'Oréal Derma in Riyadh gathered over 500 dermatologists, researchers, and skincare specialists.This environmentally conscious event emphasized sustainability by utilizing recyclable and eco-friendly materials. It also collaborated with Riyadh's food bank to manage surplus food, ensuring minimal waste.The conference, which also featured a significant virtual attendance of over 700 specialists, reduced environmental impact by lowering physical attendance, thus decreasing material use and transportation emissions.
April 25, 2024

L'Oréal dermatology conference emphasizes sustainability in Riyadh edition

MECOTEC forays into Saudi Arabia bringing cryo technology catering to diversifying health and lifestyle trends
Germany’s MECOTEC, a global leader in the cryo technology industry, is forging ahead with its aggressive expansion strategy in the Middle East and North Africa (MENA) by making its foray into the Kingdom of Saudi Arabia, with an eye to expand further in the important region’s other keymarkets.The company’s entry into Saudi Arabia is being viewed by MECOTEC as an ideal market for its cryotherapy products, as the kingdom continues to diversify in line with its economic and societal programmes meant to transform the Arab world’s biggest economy.The UAE has proved to be a perfect springboard for MECOTEC in MENA: from 5 units of its world-renowned cryo devices having been installed in the UAE when it started there in 2022, the company has grown this count to 38 across MENA in 18 months,...
April 23, 2024

MECOTEC forays into Saudi Arabia bringing cryo technology catering to diversifying health and lifestyle trends

Mohammed Salem AL Ojaimi, the chairman of AL Ojaimi Industrial Group.
Driving innovation and sustainability: An interview with Mohammed Salem AL Ojaimi, Chairman of AL Ojaimi Industrial Group
In an exclusive interview, Mohammed Salem AL Ojaimi, the chairman of AL Ojaimi Industrial Group, shares insights into the origins, growth, and future aspirations of the conglomerate. With a focus on pioneering advancements in the electrical manufacturing sector and a commitment to sustainability, AL Ojaimi discusses the group's strategic initiatives and alignment with Saudi Vision 2030.Q: Can you tell us about the origins of the AL Ojaimi Industrial Group and its initial focus?A: The journey of the AL Ojaimi Group began in 1997 with the establishment of Ojaimi Switchgear, our first factory focused on panels and package substations. This marked the beginning of our specialization in the electrical industrial field, paving the way for a comprehensive portfolio that supports the...
April 23, 2024

Driving innovation and sustainability: An interview with Mohammed Salem AL Ojaimi, Chairman of AL Ojaimi Industrial Group

AL Ojaimi Industrial Group announces launch of new REPL factory in Riyadh
AL Ojaimi Industrial Group, a pioneer in the electrical manufacturing sector, announced the inauguration of its new joint venture with REPL International, the REPL Industry Company factory in Riyadh. This strategic initiative is set to enhance the Kingdom of Saudi Arabia's industrial capabilities in alignment with Vision 2030.Founded in 1976, REPL International has established itself as a leading global manufacturer of cable accessories for the power and telecommunications industries, providing high-quality Heat Shrink, Cold Shrink, and Pre-moulded cable accessories. The Riyadh factory marks REPL's latest expansion, both globally and regionally, emphasizing the company's commitment to supporting strategic industries and contributing to the national economy.The new REPL factory,...
April 23, 2024

AL Ojaimi Industrial Group announces launch of new REPL factory in Riyadh

PIF, stc Group form major telecom tower entity in strategic partnership
Saudi Gazette reportRIYADH — The Public Investment Fund (PIF) and Saudi Telecommunications Company (stc Group) have finalized definitive agreements for PIF to acquire a 51% stake in Telecommunication Towers Company Limited (TAWAL) from stc Group, valued at $5.85 billion. This acquisition marks a pivotal step in consolidating TAWAL and Golden Lattice Investment Company (GLIC) into a new entity, set to become the largest telecom tower company in the region.Owned 54% by PIF and 43.1% by stc Group, with the remainder held by GLIC minority shareholders, this new merged entity aims to enhance the telecommunication infrastructure sector's efficiency and reach. The transaction is slated for completion in the second half of 2024, pending regulatory approvals.Raid Ismail, Head of MENA Direct...
April 22, 2024

PIF, stc Group form major telecom tower entity in strategic partnership

Iran is the seventh largest oil producer in the world
Markets rocked as US says Israel has struck Iran
LONDON — Global oil and gold prices jumped and shares fell after US officials said an Israeli missile had struck Iran.After initial sharp moves in Asia on Friday, the market reaction eased with Brent crude oil trading around 1.7% higher, to sit above $88 a barrel, while gold was close to $2,400 an ounce.Benchmark stock indexes in Japan, Hong Kong and South Korea also lost ground after the news.Investors have been closely watching Israel’s reaction to Iran's drone and missile attack on the country last weekend.They are concerned that a worsening conflict in the Middle East could disrupt oil supplies.In stock markets, the Nikkei 225 index in Tokyo was trading about 2.5% lower, while Hong Kong's Hang Seng was around 1.2% lower and the Kospi in South Korea fell by about 1.7%.Oil...
April 19, 2024

Markets rocked as US says Israel has struck Iran

A worker at a texile factory in Nantong, in eastern China's Jiangsu province on September 14, 2023
China’s economy expands by a surprisingly strong pace in the first quarter of 2024
HONG KONG — China’s economy grew stronger than expected at the start of this year, mainly thanks to robust growth in high-tech manufacturing.Gross domestic product grew by 5.3% in the first quarter from a year ago, according to the National Bureau of Statistics on Tuesday. That beat the estimate of 4.6% growth from a Reuters poll of economists. It also marked an acceleration from the 5.2% growth in the previous three months.“The Chinese economy got off to a good start in the first quarter ... laying a good foundation for achieving the goals for the whole year,” said Sheng Laiyun, a spokesperson for the NBS, at a press conference in Beijing accompanying the data release.But he acknowledged that “the foundation for economic stability and improvement is not yet solid.”Industrial...
April 16, 2024

China’s economy expands by a surprisingly strong pace in the first quarter of 2024

Iran is the seventh largest oil producer in the world
Oil prices lower after Iran attack on Israel
LONDON — Oil prices fell in early Asian trade after Iran's reprisal attack on Israel over the weekend.Brent crude — a key benchmark for oil prices internationally — was lower but still trading close to $90 a barrel on Monday morning.Prices had already risen in expectation of action by Iran, with Brent crude nearing a six-month high last week.Israeli Defence Minister Yoav Gallant has said the confrontation with Iran is "not over yet".Energy analyst Vandana Hari said: "Clearly, the oil market does not see the need to factor in any additional supply threat at this point."Brent crude may well fall below the $90 mark, but a sizeable pullback is unlikely as traders remain focused on the risks associated with the conflicts in Gaza and Ukraine, she added.Analysts also...
April 15, 2024

Oil prices lower after Iran attack on Israel

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