عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Samba Hands Over 100 Housing Units in Community Initiative

Samba Hands Over 100 Housing Units in Community Initiative
TT
TT

Samba Hands Over 100 Housing Units in Community Initiative

Samba Hands Over 100 Housing Units in Community Initiative

Samba Financial Group has provided 100 housing units to needy families as part of the Housing Support Program that falls under its community initiatives.

The Program aims to provide 500 furnished housing units to the needy and 100 new and furnished housing villas ready for immediate housing.

The announcement was made on Wednesday during a ceremony held in Riyadh to hand over the keys to those benefiting from the program.

The ceremony was attended by Chairman of Samba Financial Group Issa al-Issa, Minister of Housing Dr. Majed Al-Hogail, Saudi Arabian Monetary Authority (SAMA) Governor Dr. Ahmed Al-Khulaifi, CEO of Samba Financial Group Rania Nashar and a number of officials.

Issa stated that Samba has taken the initiative to help 500 households, saying that around three batches have already been handed over to more than 1,600 beneficiaries.

Hogail said that the initiative reflects the spirit of fruitful cooperation and integration between the public and private sectors endorsed by the ministry and the Real Estate Development Fund (REDF) to provide citizens with houses.

The Saudi banking sector – supervised by SAMA – has been the strategic partner and a key arm for the ministry of housing, Hogail added.

Khulaifi depicted the initiative as evidence on the banking institutions' deep commitment to social responsibilities, and a reminder on the effective role of Saudi banks in providing incentives to development.

As for Nashar, she said that Samba’s initiative wouldn’t have succeeded without the joint efforts of all parties, stressing that it is an extension of a series of development programs implemented by the financial group.

Most Viewed

 
 
Business

UK Inflation Falls to 3.0% in January

Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)
Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)
TT
TT

UK Inflation Falls to 3.0% in January

Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)
Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)

Britain's annual ‌rate of consumer price inflation fell to 3.0% in January from 3.4% in December, official figures showed on Wednesday.

A Reuters poll of economists had shown a median forecast of 3.0% in January and the Bank of England projected earlier this month that the headline measure of inflation would slow to ‌2.9%.

British inflation ‌has run higher than in ‌the ⁠United States and in ⁠the euro zone where it stood at 2.4% and 1.7% respectively in January.

But the BoE expects the pace of price rises to slow sharply to almost its 2% target in ⁠April as last year's rises ‌in utility costs and ‌other government-controlled tariffs fall out of ‌the annual comparison.

Investors expect the central bank ‌to cut its benchmark interest rate to 3.5% at its next meeting in March after a tight vote to keep borrowing costs ‌on hold in February although some policymakers remain worried about underlying ⁠inflation ⁠pressure.

Financial markets on Tuesday also priced a second quarter-point interest rate cut by the BoE by the end of in 2026.

ONS data last week painted a downbeat picture of Britain's economy at the end of 2025 with output barely growing. Figures released on Tuesday showed the labor market was still losing jobs although there were some signs of a stabilization.

Business

Riyadh to Host Middle East’s Largest General Aviation Airshow in November 

The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)
The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)
TT
TT

Riyadh to Host Middle East’s Largest General Aviation Airshow in November 

The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)
The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)

The Saudi Aviation Club announced that it will organize the AERO Middle East x Sand & Fun 2026 in Riyadh from November 24 to 28, reported the Saudi Press Agency on Tuesday.

The event is set to be the largest of its kind for general aviation in the Middle East, combining international business, investment, and innovation with live flying displays and interactive public experiences. It is being held in partnership with Messe Frankfurt Saudi Arabia.

Held at Thumamah Airport, the exhibition will bring together leading global companies operating in the general aviation industry, including aircraft and components manufacturers, avionics and navigation systems providers, as well as maintenance, repair, and overhaul (MRO) companies, offering an integrated platform that covers the full value chain of the sector.

The event will also spotlight startups in advanced air mobility (AAM) and innovators of electric vertical take-off and landing (eVTOL) aircraft, showcasing technologies and business models shaping the future of aviation.

General Supervisor of the Saudi Aviation Club Dr. Ahmed Alfahaid stated that AERO Middle East x Sand & Fun 2026 represents a qualitative leap for the Kingdom’s aviation sector and reinforces its positioning as a global hub for general aviation and advanced air mobility.

The partnership with Messe Frankfurt Saudi Arabia goes beyond presenting global innovations to providing a vital platform for international investment and strategic collaboration, he stressed.

Moreover, the event contributes to achieving Saudi Vision 2030 objectives, including the Kingdom’s ambition to rank among the world’s top 10 general aviation markets, he added.

Business

Saudi Arabia, Kazakhstan Agree to Establish Coordination Council

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz receives Kazakhstan’s Foreign Minister Yermek Kosherbayev in Riyadh. (SPA)
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz receives Kazakhstan’s Foreign Minister Yermek Kosherbayev in Riyadh. (SPA)
TT
TT

Saudi Arabia, Kazakhstan Agree to Establish Coordination Council

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz receives Kazakhstan’s Foreign Minister Yermek Kosherbayev in Riyadh. (SPA)
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz receives Kazakhstan’s Foreign Minister Yermek Kosherbayev in Riyadh. (SPA)

Saudi Arabia and Kazakhstan agreed to establish a Saudi-Kazakh Coordination Council, reported the Saudi Press Agency on Tuesday.

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz received in Riyadh Kazakhstan’s Foreign Minister Yermek Kosherbayev. Saudi FM Prince Faisal bin Farhan bin Abdullah and Minister of Energy of Kazakhstan Yerlan Akkenzhenov also attended the meeting.

The talks tackled the establishment of the coordination council, which will be chaired by the Saudi minister of energy and Kazakhstan’s foreign minister. The council reflects the two countries’ commitment to strengthening cooperation and expanding their bilateral partnership.

Prince Abdulaziz and Kosherbayev signed an agreement on the establishment of the council, which aims to boost coordination and consultation between the two countries and develop frameworks for cooperation across various sectors of mutual interest, elevating bilateral relations to broader levels.

Prince Abdulaziz and Kosherbayev discussed relations between their countries and ways to develop them further, especially in the energy field. They tackled opportunities for cooperation and investment in renewable energy and energy storage systems and discussed oil market developments.