Author: Steven Sahiounie

RIYADH: Two major state-owned and publicly listed companies have formed a partnership to oversee the development and management of key markets in downtown Riyadh. This collaboration marks a significant step in the city’s ongoing transformation. According to an announcement on Tadawul, Riyadh Development Co. and Riyadh Holding Co. have reached an agreement to establish a new entity. This entity will take ownership and operational control of assets within the historic Qasr Al-Hukm area. With assets valued at SR1.52 billion ($405 million), this collaboration is poised to leverage the combined expertise of the companies in real estate development and management. It promises…

UAE sovereign wealth fund Mubadala Investment Co. has acquired 100 percent ownership of UCB Pharma’s mature business in China, in partnership with CBC Group, a healthcare-focused asset manager. 

Saudi Arabia’s petrochemical sector has received a boost with the Ministry of Industry and Mineral Resources’ digital platform delivering over 100,000 tonnes of raw materials to local factories.

Kingdom’s future economic growth will be driven by rising FDI inflow and investments in public capital expenditure and private sector, says Standard Chartered

JEDDAH: Saudi Arabia’s housing sector has strengthened its international partnerships by signing five key agreements on real estate development and financing with major US companies.

Russia’s economy is growing while EU members are suffering, the Forbes-listed billionaire Alisher Usmanov has said

IBM’s move is set to affect over 1,000 employees from across the country, local news outlets have reported

The new regulation is part of a broader reform of labor laws aimed at improving people’s work-life balance

Iraqi Prime Minister Mohammed Shia’ Al Sudani invited Iranian President Masoud Pezeshkian to visit the Arab country. Iranian Foreign Minister Abbas Araqchi and his Iraqi counterpart Fuad Hussein held a telephone conversation on Thursday evening. Hussein honored the memory of late Iranian foreign minister Hossein Amirabdollahian, expressing hope that Iraq and Iran would continue to cooperate closely on various issues related to bilateral relations, as well as major regional and international developments. He also conveyed an invitation from the prime minister of Iraq to President Pezeshkian to visit the neighboring country. For his part, Araqchi emphasized the special attention that…

Iran’s foreign minister has described as “definitive” the country’s response to Israel’s assassination of senior Hamas political leader Ismail Haniyeh last month. In a phone call with his Italian counterpart Antonio Tajani on Sunday, Abbas Araghchi said the response is “definitive” but it “will be measured and well calculated.” The top Iranian diplomat added that, unlike Israel, Iran is not seeking escalation but at the same time “we do not fear escalation.” Earlier, Araghchi also had a telephone conversation with Saudi Foreign Minister Faisal bin Farhan Al Saud to discuss bilateral and regional issues. Both diplomats talked about the ongoing…