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In "BUSINESS"
December 04, 2022
OPEC+ keeps oil production unchanged
December 04, 2022
Second Saudi qualifier for ‘Race to Georgia’ golf series held in Riyadh
December 02, 2022
KSA and UAE is a partnership of possibilities
December 01, 2022
Shomoul Holding Company participates in MAPIC International Exhibition through its major regional projects
December 01, 2022
'Theeb Rent a Car' branch in Al-Bahah moved to new location on King Abdulaziz road
December 01, 2022
The imperative need to secure the cloud and future of work with robust cyber security
November 30, 2022
LuLu’s 29th store opens in Jeddah
RIYADH — Saudi food delivery app Jahez signed a share purchase agreement (SPA) to acquire 100% share capital of The Chefz for SR650 million ($172.9 million), according to a bourse filing on Wednesday.The deal is still subject to regulatory approval and is expected to close in the first quarter of 2023, the filing mentioned.The transaction includes a cash consideration worth SR325 million and the issuance of new shares in Jahez with a value of SR325 million, representing 5% of the delivery firm’s share capital.The company, known as Jahez Company for Information System Technology, signed the SPA with Abdulrahman Abdullah Alshabanat, Abdulrahman Ahmed Almarshed, Abdullah Mohammed Aldosari, Saqr Fund L.P, Impact46 Seed Fund/Impact Seed Fund Co., and Muthmir for Investment Co.As part of the...
November 30, 2022
Jahez acquires The Chefz for SR650 mln
JEDDAH — Ceer, Saudi Arabia’s first electric vehicle brand, has signed a land purchase agreement worth SR359 million with Emaar, the Economic City, for land at King Abdullah Economic City (KAEC) that will be used to develop Ceer’s manufacturing facility for electric vehicles.The site, located in Industrial Valley (IV) in close proximity to King Abdullah Port in KAEC, will cover over 1 million square meters. Once complete, Ceer’s manufacturing facility will create thousands of direct and indirect high-skilled jobs, the majority of which will be filled by Saudi nationals. Construction at the site will begin early 2023.The company, which is a joint venture between the Public Investment Fund (PIF) and Hon Hai Precision Industry Co. (Foxconn), will manufacture a portfolio of...
November 29, 2022
CEER to establish electric vehicle manufacturing site at KAEC
November 29, 2022
Hankook Tire Ventus is fitted with New Mercedes Benz S-Class
