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US President Donald Trump receives a gold helmet with his name on it during a visit to US Steel - Irvin Works in West Mifflin, Pennsylvania, May 30, 2025, to mark the deal between Nippon Steel and US Steel

Japan's Nippon seals controversial US Steel deal after Trump pact

NEW YORK — Japanese firm Nippon Steel has completed its long-sought takeover of US Steel, after agreeing to yield unusual control to the US government.Nippon's $14.9bn (£11bn) purchase of the smaller American company, will create one of the world's biggest steelmakers and turns Nippon into a major player in the US.The plan, first announced in 2023, had been seen as a lifeline for the storied but struggling 124-year-old US Steel.But the deal ran into trouble during last year's presidential election, when US President Donald Trump and his Democratic opponents said they were concerned about the foreign acquisition of one of the last major steel producers in the US.However, Trump reversed his stance, after Nippon made concessions which the President said had satisfied his...

June 19, 2025

Japan's Nippon seals controversial US Steel deal after Trump pact

Miele opens first experience center in Riyadh, marks strategic expansion into the Middle East

Miele, the global leader in premium domestic appliances, unveiled its first Miele Experience Center (MEC) in the heart of Riyadh, marking a significant milestone in the brand’s global expansion strategy.This landmark opening not only reinforces Miele’s commitment to the Middle East but also celebrates the enduring partnership with the Awad Badi Nahas Group, a collaboration rooted in shared values of innovation, excellence, and timeless quality.The occasion was further elevated by the presence of Dr. Reinhard Zinkann, Co-Proprietor and Executive Director of the Miele Group, who visited Saudi Arabia for the first time in over a decade underscoring the Kingdom’s growing strategic importance within Miele’s global vision.This state-of-the-art Experience Center introduces Saudi consumers...

June 18, 2025

Miele opens first experience center in Riyadh, marks strategic expansion into the Middle East

Alsulaiman Group acquires Taajeer Finance to lead digital transformation and growth in financial services

Alsulaiman Group, one of Saudi Arabia’s leading family-owned conglomerates, has announced the acquisition of Taajeer Finance Company. This strategic move signifies the Group’s official entry into the dynamic and rapidly growing financial services sector in the Kingdom.The acquisition comes at a time of accelerated transformation in Saudi Arabia’s financial sector, fueled by increased investment in fintech and regulatory support from the Saudi Central Bank (SAMA), including initiatives like the Regulatory Sandbox. It also aligns with the Financial Sector Development Program under Vision 2030, which seeks to promote financial inclusion and expand access to digital financial solutions for individuals and businesses.Saud Alsulaiman, CEO of Alsulaiman Group, commented on the acquisition:...

June 18, 2025

Alsulaiman Group acquires Taajeer Finance to lead digital transformation and growth in financial services

Mobile Festival across Riyadh features Dar wa Emaar's annual Eid Al Adha celebration

As part of its ongoing mission to foster interactive communities and elevate residents’ quality of life, Dar wa Emaar Real Estate Investment & Development Company hosted a festive Eid Al Adha celebration across multiple residential projects in Riyadh.The mobile celebration festival spanned across Saraya Al Fursan and Saraya Al Narjis, engaging a wide audience of residents and visitors alike. Clients of Saraya Al Jawan also took part, strengthening cross-community interaction.The celebration featured decorated trucks offering live entertainment, family-friendly activities, and festive giveaways as they toured the neighborhoods. The initiative was designed to bring the spirit of Eid directly to residents’ doorsteps, create joyful shared experiences, and reinforce the sense of belonging...

June 17, 2025

Mobile Festival across Riyadh features Dar wa Emaar's annual Eid Al Adha celebration

Palazzo Versace Dubai up for auction: Swiss-Italian Banker Christopher Aleo among potential buyers

The iconic Palazzo Versace Dubai, one of the most luxurious hotels in the United Arab Emirates, has officially been put up for auction following financial difficulties faced by its current owner. The property has been listed for online bidding with a starting price of approximately AED 600 million (around USD 163 million), a figure significantly lower than its previous valuation of over AED 1.4 billion (roughly USD 380 million).Opened in 2015 along the shores of Dubai Creek, the hotel spans 130,000 square meters and features 215 rooms and suites, 169 private residences, and 8 upscale restaurants and lounges. Despite the financial issues of its ownership, the hotel remains fully operational and continues to be one of the top choices among international luxury travelers. Its strategic...

June 16, 2025

Palazzo Versace Dubai up for auction: Swiss-Italian Banker Christopher Aleo among potential buyers

Saudi Aramco shares rise as oil surges 7% on geopolitical fears

Saudi Gazette reportDHAHRAN — Saudi Aramco shares rose 1.76% in the first trading session of the week on the Saudi Stock Exchange (Tadawul), supported by a sharp rise in oil prices following the escalation of hostilities between Israel and Iran.Aramco closed at SR25.40, up from SR24.96 in the previous session, with trading volume reaching approximately 28.7 million shares and a total value of nearly SR728 million.Oil markets surged on Friday after both Israel and Iran exchanged missile strikes, raising concerns about possible disruptions to energy exports from the region.Brent crude futures rose $4.87, or 7.02%, to settle at $74.23 a barrel after spiking over 13% intraday to $78.50 — the highest since January 27.US West Texas Intermediate crude jumped $4.94, or 7.62%, to $72.98 a...

June 15, 2025

Saudi Aramco shares rise as oil surges 7% on geopolitical fears

Gulf stock markets tumble amid Israel-Iran escalation

Saudi Gazette reportRIYADH — Financial markets across the Arabian Gulf and Egypt plunged sharply on Sunday, as escalating military tensions between Israel and Iran triggered widespread selloffs and heightened volatility across the region’s stock exchanges.The downturn followed a weekend of intensified hostilities, with both sides exchanging airstrikes since Friday, rattling investor confidence and driving oil prices up nearly 7% by the close of trading on Friday.In Saudi Arabia, the Tadawul All Share Index (TASI) opened down by around 3%, before recovering slightly to close 1.81% lower at 10,647 points.Trading volumes exceeded SR2 billion. Despite the overall market drop, shares in Saudi Aramco rose 1.76%, buoyed by the oil price surge, peaking at SR25.50 on a trading value of more...

June 15, 2025

Gulf stock markets tumble amid Israel-Iran escalation

Omar Malabarey.

Charting a value-driven healthcare future: BD Saudi Arabia’s GM on local impact, innovation, and Vision 2030

In a candid conversation with Saudi Gazette, Omar Malabarey, newly appointed Country General Manager for Becton Dickinson in Saudi Arabia, shares his vision for the company’s role in the Kingdom’s fast-evolving healthcare sector. With decades of experience across public and private healthcare, Malabarey discusses BD’s commitment to local talent development, digital transformation, and strategic partnerships aligned with Vision 2030.Q: Congratulations on your appointment as General Manager of BD in Saudi Arabia. Can you share your journey leading to this role and what it means to you?A: My journey in healthcare has been both dynamic and fulfilling. I graduated in Radiological Sciences from the University of Wales (UK)and began my career as a radiology technologist at a Military...

June 12, 2025

Charting a value-driven healthcare future: BD Saudi Arabia’s GM on local impact, innovation, and Vision 2030

Redington’s Vision for Saudi Arabia: Powering Digital Transformation and Ecosystem Growth

Marking more than two decades of operations in the Kingdom of Saudi Arabia, Redington has emerged as the country’s largest IT distributor, with annual revenues nearing $1.5 billion. As the company inaugurates its new headquarters in Riyadh, it is doing more than expanding infrastructure; it is signaling long-term commitment to shaping the future of digital transformation across the Kingdom.With a growing workforce, partnerships with hundreds of global technology brands, and a renewed focus on ecosystem development, Redington is placing itself at the heart of Saudi Arabia’s rapidly evolving tech landscape. V.S. Hariharan, Managing Director and Group CEO at Redington, shared insights into the company’s journey, its strategic priorities, and the pivotal role it is playing in the...

June 04, 2025

Redington’s Vision for Saudi Arabia: Powering Digital Transformation and Ecosystem Growth

droppRWA and RAFAL Real Estate set to launch Saudi Arabia’s first Tokenized Real Estate Transaction

droppRWA, a subsidiary of droppGroup, the world’s leading provider of sovereign-grade Web3 AI and blockchain infrastructure, today announced a landmark partnership with RAFAL Real Estate Co., one of Saudi Arabia’s leading developers, to execute the Kingdom’s first-ever Real World Asset (RWA) tokenization transaction.This transaction is not just a technological milestone; it is a strategic inflection point. The RAFAL pilot will serve as a national feasibility benchmark for the future of tokenized property markets in Saudi Arabia. Redefining real estate ownership, the collaboration aims to introduce fractional ownership of high-value real estate assets, enabling Saudi citizens to invest everyday with amounts starting as low as single-digit riyals.This democratized access model aligns...

June 03, 2025

droppRWA and RAFAL Real Estate set to launch Saudi Arabia’s first Tokenized Real Estate Transaction

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