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Saudi Banks Acquire 80% of Debt Burdening Construction Firm ‘Binladin’

Saudi Banks Acquire 80% of Debt Burdening Construction Firm ‘Binladin’

The Binladin International Holding Group, one of the Middle East’s biggest construction companies, is witnessing remarkable progress in its debt restructuring plans as reports revealed that Saudi banks acquired nearly 80% of the company’s debt.

Oil Rises Above $67

Oil Rises Above $67

Oil rose above $67 a barrel on Friday, gaining for a fifth session, as a stronger demand outlook and signs of economic recovery in China and the United States offset rising COVID-19 infections in some other major economies. China's gross domestic product jumped 18.3% in the first quarter from a y

Turkey’s Central Bank Holds Rate Unchanged in 1st Meeting Under New Governor

Turkey’s central bank held rates steady at 19 percent as expected on Thursday, in its first decision since President Recep Tayyip Erdogan fired the former governor and appointed a new one.

Barakah Nuclear Energy Plant Paves Way for Other Clean Energy Forms

Barakah Nuclear Energy Plant Paves Way for Other Clean Energy Forms

Kirsty Gogan, Managing Director, Managing Partner at LucidCatalyst, said that the UAE, through the commencement of commercial operations of the Barakah Nuclear Energy Plant, combined with significant investment in renewables, demonstrates how countries can significantly curb their carbon emissions w

Saudi Arabia Elected President of Digital Cooperation Organization

Saudi Arabia Elected President of Digital Cooperation Organization

Saudi Arabia was elected president of the Digital Cooperation Organization (DCO) and Saudi national Deemah Alyahya was appointed the first secretary-general of the organization during its first meeting on Monday. The organization also approved the accession of Nigeria and Oman to the organization

Saudi Electricity Company Installs Over 10m Smart Electric Meters

Saudi Electricity Company Installs Over 10m Smart Electric Meters

Saudi Electricity Company (SEC) has installed 10 million smart electricity meters all over the Kingdom, of which four million were built from locally manufactured components. Customers will be able to take advantage of SMP features after all three phases of the project have been completed: meter

Saudi Arabia Set to Boost Its Heritage, Cultural Economies

Saudi Arabia Set to Boost Its Heritage, Cultural Economies

Saudi Arabia is steadily moving towards developing its heritage and cultural economies with Crown Prince Mohammed bin Salman launching the Kingdom’s masterplan, dubbed ‘A Journey Through Time,’ which aims to transform AlUla into a global destination for heritage, nature, art, and culture.

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