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1 - 10 from 15305 . In "BUSINESS"
Abeer medical group honored to serve Hajj pilgrims
JEDDAH — Abeer Medical Group, by way of Saudi National Hospital (SNH), a Makkah-based medical facility that is managed and operated by the group, served Hajj pilgrims during their stay in the holy city; amounting to over 500 treatments in total during the pilgrimage period.With an influx of pilgrims this year, SNH was exclusively commissioned the privilege of attending to Bruneian, Malaysian, and Qatari visitors, providing them with general healthcare and medical emergency needs, including vital sign checks, bloodwork analyses, coronavirus testings, doctor consultations, medication provisions, and other required treatments.Moreover, in collaboration with the Indian embassy and Saudi-Indian Healthcare Forum, SNH also played a role in looking after pilgrims from the sub-continent nation....
August 09, 2022

Abeer medical group honored to serve Hajj pilgrims

Saudi banks earn SR7.7 million profits in every hour
Okaz/Saudi Gazette JEDDAH – Saudi Arabia’s local banks have recorded total profits, amounting to SR33.63 billion, during the first half of the year 2022.The value of profits of the banks per hour reached SR7.74 million during the period, according to monitoring carried out by Okaz/Saudi Gazette. There are 1899 branches for 10 local banks in the Kingdom, in addition to the branches of 16 foreign banks.The combined profits of the Saudi National Bank (SNB –Al-Ahli) and Al-Rajhi Bank amounted to about SR19.82 billion, and this figure is equivalent to 58.93 percent of the profits of all banks.The Saudi banks are achieving daily profits of SR185.82 million. The average net profits of banks after payment of zakat and tax per hour is estimated at SR6.84 million. The zakat and taxes amounted...
August 08, 2022

Saudi banks earn SR7.7 million profits in every hour

Prices are currently rising faster than they have for 40 years.
Cost of living: People turning back to cash as prices rise
LONDON — People are going back to cash to keep tighter control on their spending as living costs soar, according to new research by the Post Office.Post offices handled £801m in personal cash withdrawals in July, the most since records began five years ago.That's up more than 20% from a year earlier.Natalie Ceeney, chair of the Cash Action Group, said it showed people are "literally counting the pennies" as they grapple with rising prices."It's absolutely because of the cost of living crisis," said Ms Ceeney, who chaired the government's independent Access to Cash review."People will be taking out cash and physically putting it into pots, saying 'this is what I have for bills, this is what I have for food, and this is what's...
August 08, 2022

Cost of living: People turning back to cash as prices rise

Workers install the electric motor inside a Tata Nexon electric sport utility vehicle (SUV) at the Tata Motors plant in Pune, India.
Tata Motors to buy Ford car plant in India
NEW DELHI — Indian automaker Tata Motors has agreed to buy a Ford manufacturing plant in the western state of Gujarat for 7.26bn rupees ($91.5m).The deal comes as Tata moves to boost its car production to meet demand.The deal between Tata's electric vehicle subsidiary and the US car maker's Indian unit covers land, machinery and all "eligible employees".Ford stopped production in India last year after struggling for more than two decades to generate profits there."With our manufacturing capacity nearing saturation, this acquisition is timely and a win-win for all stakeholders," Tata Motors said in a statement.The parent company of the UK's Jaguar Land Rover added that annual production at the Sanand plant will initially give it new capacity of 300,000...
August 08, 2022

Tata Motors to buy Ford car plant in India

The Bank of England governor warns interest rates may have to rise even higher.
Bank of England warns the UK will fall into recession this year
LONDON — The Bank of England has warned the UK will fall into recession as it raised interest rates by the most in 27 years.The economy is forecast to shrink in the last three months of this year and keep shrinking until the end of 2023.Interest rates rose to 1.75% as the Bank battles to stem soaring prices, with inflation now set to hit over 13%.Governor Andrew Bailey said he knew the cost of living squeeze was difficult but if it didn't raise interest rates it would get "even worse".The main reason for high inflation and low growth is soaring energy bills, driven by Russia's invasion of Ukraine.A typical household will be paying almost £300 a month for their energy by October, the Bank warned.The expected recession would be the longest downturn since 2008, when the...
August 05, 2022

Bank of England warns the UK will fall into recession this year

The unfinished Guangzhou Evergrande Football Stadium photographed in March this year.
Evergrande gets $818m as football stadium land deal canceled
BEIJING — Heavily-indebted Chinese property giant Evergrande says it will receive $818m after canceling a contract to buy land rights for a new football stadium.Construction of the stadium started more than two years ago but has been hit by issues for months.The stadium was for Guangzhou FC, a top tier team that Evergrande bought a controlling stake of in 2010.The money from the deal will be used to settle debts related to the project, the company added.The announcement comes as Evergrande tries to raise cash to make debt payments.Once China's top-selling property developer, the firm has been struggling since last year under the weight of more than $300bn of debts, of which around $20bn is held by investors from outside the country.Under this deal, the land, buildings and other items...
August 05, 2022

Evergrande gets $818m as football stadium land deal canceled

Best of Asean countries at LuLu KSA 'Amazing ASEAN’ fest
RIYADH — The annual ‘Amazing ASEAN’ extravaganza of the best products from the ASEAN countries was inaugurated today at two locations of the LuLu Hypermarket Saudi Arabia.In the Avenue Mall, Murabba, Riyadh, there were eight Ambassadors and senior management of LuLu Group attending the grand opening. In the LuLu Hypermarket in Amir Fawaz, Jeddah there were three Jeddah-based ASEAN diplomats and senior management of LuLu Group attending.The popular festival brings a wide range of everyday essentials, grocery, exotic fruits and veg and frozen and chilled foods, fresh deli items as well as non-food items and household and home furnishing from the ASEAN region, which is known for its agricultural diversity, seafood and excellent quality of non-food items.Over 6,200 product lines from...
August 04, 2022

Best of Asean countries at LuLu KSA 'Amazing ASEAN’ fest

Aramco, Sinopec sign MoU to collaborate on projects in Saudi Arabia
DHAHRAN — Saudi Aramco signed on Wednesday a Memorandum of Understanding (MoU) with China Petroleum & Chemical Corporation (Sinopec) covering multiple areas of potential collaboration between the parties in Saudi Arabia. The MoU outlines pathways for strategic cooperation between Aramco and Sinopec and supports the long-term relationship between the two companies and their existing joint ventures in China and in the Kingdom.Mohammed Al Qahtani, Aramco Senior Vice President of Downstream, said: “We are delighted to be able to extend our relationship with Sinopec and leverage our mutual strength and reach while creating a path to bring our long-standing cooperation in China to our facilities in Saudi Arabia. This latest collaboration will help to further advance our strategic...
August 03, 2022

Aramco, Sinopec sign MoU to collaborate on projects in Saudi Arabia

Hankook racing team achieves top spot of G2 category in Hill Climb racing
JEDDAH — The leader of the Saudi Hankook Racing Team, Captain Saeed Al-Mouri, achieved the first place in the G2 Category during the first round of the Hill Climb Racing, within the Saudi Toyota Championship competitions held between 22 and 23 July in Al-Baha Region.Al-Taif and Asir regions will host the next two rounds. Al-Mouri was able to reaffirm that he is the best choice after he accepted the nominations to lead and achieve the first stage of the tournament, which witnessed the participation of thirty contestants from outside and inside the Kingdom.However, Hankook F200 tires showed outstanding performance during the racing, that took place amid difficult mountainous terrain, which increased the excitement of competing for first places.Captain Saeed Al-Mouri expressed his...
August 02, 2022

Hankook racing team achieves top spot of G2 category in Hill Climb racing

India's top telcos participated in the country's biggest spectrum auction.
Ambani and Adani: Asia's richest men battle to dominate 5G in India
MUMBAI — India's largest auction for 5G airwaves has ended after seven days, potentially setting the stage for a battle of supremacy over India's digital future between two of Asia's richest men — Gautam Adani and Mukesh Ambani.A total of 72 gigahertz of spectrum was on the block in the auction. Ashwini Vaishnaw, India's telecoms minister, said 71% of what was on offer was sold.The government drew bids worth approximately $19bn from the three current players — Ambani's Reliance-Jio or (R-Jio), Vodafone Idea and Bharti Airtel — and from a fourth, new entrant, Adani Data Networks.This surpassed expectations as total bids had more than doubled since the last auction in March 2021, according to CRISIL Research.While R-Jio emerged as the largest bidder, buying...
August 02, 2022

Ambani and Adani: Asia's richest men battle to dominate 5G in India

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