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1861 - 1870 from 16577 . In "BUSINESS"
 Mohammed Alkuwaiz, chairman of the Board of Directors of the Capital Market Authority (CMA).
30 more companies likely to list on Saudi bourse this year
Saudi Gazette reportRIYADH — The Saudi Stock Exchange (Tadawul) is expected to witness the entry of 30 new companies during the current year, according to Mohammed Alkuwaiz, chairman of the Board of Directors of the Capital Market Authority (CMA).“Three companies are already listed in the market this year while two others are making preparations to float into public circulation,” he said while addressing the Saudi Financial Sector Conference (FSC) here on Monday.Addressing the first panel of the event titled “KSA ESG Ecosystem: Opportunities and Challenges,” Alkuwaiz said, "Saudi Arabia has made great progress and has drawn up plans, policies and proposals for the development of the financial sector."Fahad Al-Mubarak, governor of the Saudi Central Bank (SAMA), delivered...
September 28, 2021

30 more companies likely to list on Saudi bourse this year

China remains highly dependent on coal for electricity generation.
Goldman Sachs cuts China growth forecast over power outages
SHANGHAI -- Goldman Sachs has become the latest banking giant to cut its growth forecast for China, as the country struggles with energy shortages, BBC reported.It now expects the world's second largest economy to expand by 7.8% this year, down from its previous prediction of 8.2%.The firm says major industrial output cuts caused by power outages add "significant downside pressures".It estimates as much as 44% of China's industrial activity has been affected.The power supply crunch, caused by environmental controls, supply constraints and soaring prices, has left some factories and homes without electricity.The energy shortage at first affected manufacturers across the country, many of whom have had to curb or stop production in recent weeks.A document seen by the BBC...
September 28, 2021

Goldman Sachs cuts China growth forecast over power outages

Trend Micro launches Service One to enhance security and relieve overstretched security teams across MENA
Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global leader in cybersecurity solutions, announced the launch of Trend Micro Service One, consolidating its managed services to optimize enterprise threat management. It includes premium support, an early warning service, Managed XDR and incident response, help customers prevent, detect and respond to cyber threats faster by supplementing internal resources.The prevalence of cybersecurity threats and the dynamic threat landscape leave businesses vulnerable and put security experts in high demand to triage and investigate incidents. Over half of Security Operations Center (SOC) teams feel overwhelmed by alerts and aren't confident in their abilities to prioritize or respond to these alerts, according to a recent Trend Micro survey....
September 27, 2021

Trend Micro launches Service One to enhance security and relieve overstretched security teams across MENA

(Courtesy file photo)
Aramco, Air Products, ACWA Power, and Air Products Qudra sign $12 billion Joint Venture deal
DHAHRAN & RIYADH / LEHIGH VALLEY, PA, USA Aramco, Air Products (APD), ACWA Power and Air Products Qudra Monday announced the signing and finalization of definitive agreements for the asset acquisition and project financing of the $12 billion air separation unit (ASU)/gasification/power joint venture (JV) in Jazan Economic City.Aramco via its subsidiary Saudi Aramco Power Company (SAPCO) has a 20 percent share in the JV; Air Products 46 percent; ACWA Power 25 percent; and Air Products Qudra 9 percent. Moreover, Air Products’ total ownership position is 50.6 percent by owning an additional 4.6 percent through Air Products Qudra.The JV is purchasing the ASUs, gasification, syngas cleanup, utilities and power assets from Aramco. The JV owns and operates the facility under a 25-year...
September 27, 2021

Aramco, Air Products, ACWA Power, and Air Products Qudra sign $12 billion Joint Venture deal

Motorists line up for fuel at a station off the M3 motorway near Fleet, west of London on September 26, 2021.
UK could ask soldiers to deliver fuel as service stations run dry
LONDON -- The UK government could ask the military to deliver gasoline to service stations after a shortage of tanker drivers forced some to close last week, triggering a spate of panic buying by British motorists, CNN reported.With thousands of service stations running dry, the government announced a series of emergency measures over the weekend to address the fuel crisis, including issuing temporary work visas for up to 5,500 foreign truck drivers and suspending competition law to allow suppliers to deliver fuel to rival operators.UK media reported that Prime Minister Boris Johnson would consider calling in the army on Monday if the situation shows no sign of improving."We have no plans at the moment to bring in the army to actually do driving but we always have a civil...
September 27, 2021

UK could ask soldiers to deliver fuel as service stations run dry

The Saudi Real Estate Refinance Company (SRC), a wholly owned company of the Public Investment Fund (PIF), Sunday signed a partnership agreement with Banque Saudi Fransi (BSF) to acquire a portion of its housing finance portfolio.
SRC signs second portfolio purchase agreement with Banque Saudi Fransi
RIYADH — The Saudi Real Estate Refinance Company (SRC), a wholly owned company of the Public Investment Fund (PIF), Sunday signed a partnership agreement with Banque Saudi Fransi (BSF) to acquire a portion of its housing finance portfolio.The agreement, SRC’s second acquisition of housing finance portfolio from BSF, will provide long-term liquidity to the housing market and showcases SRC’s role in developing a robust secondary home financing market to support originators in the Kingdom.The agreement with BSF, the latest among several partnerships with banks and real estate finance companies operating in the Kingdom, showcases SRC’s systemic role in providing liquidity and risk management solutions through long-term relationships with primary originators. SRC aims to promote the...
September 26, 2021

SRC signs second portfolio purchase agreement with Banque Saudi Fransi

Green hydrogen projects will stay dry without a parallel desalination market to provide fresh water
OSLO — The global pipeline for green hydrogen projects is growing fast, with a current target of 206 gigawatts (GW) in installed electrolyzer capacity by 2040. However, a Rystad Energy analysis reveals that the locations of the planned projects are overwhelmingly in areas where water is in short supply.This means that an additional desalination market needs to be created to produce most of the 620 million cubic meters of water that these projects will need.Research and development is under way to add and improve the built-in desalination capability of hydrogen projects, but many desalination installations will need to be external — and for the hydrogen to be “green”, they must be fed by additional clean, renewable power.The current pipeline of projects aims to produce about 30...
September 26, 2021

Green hydrogen projects will stay dry without a parallel desalination market to provide fresh water

PR
Jadwa Investment announces secondary offering for Saudi REIT Fund
RIYADH — Jadwa Investment, a leading investment management and investment advisory in the Middle East and the largest manager of REITs in Saudi Arabia, has started Sunday the secondary offering of its Jadwa REIT Saudi Fund. The proceeds from the secondary capital raise will be used mainly to acquire The Boulevard Riyadh, a luxury retail and office complex in the north of Riyadh.Jadwa REIT Saudi Fund is a closed-end, Shariah-compliant, real estate investment traded fund with a term of 99 years and a total gross assets value of SR2.19 billion. The aim of the fund is to offer investors a stable and continuous source of income through periodic dividend distributions, by investing in top-tier real estate assets across major cities in Saudi Arabia. Since its listing, the fund’s distributions...
September 26, 2021

Jadwa Investment announces secondary offering for Saudi REIT Fund

Wa’ed recommended up to SR8.9 million in new loans and seed grants to five entrepreneurs Tuesday night in Yanbu, as the entrepreneurship arm of Aramco presses ahead with a six-city national entrepreneurship roadshow that concludes in Makkah on Dec. 6.
Wa’ed raises support to Saudi entrepreneurs to SR19.1 million
RIYADH — Wa’ed nearly doubled its financial support to Saudi-based start-ups to SR19.1 million during a national entrepreneurship roadshow, following its decision to issue SR8.9 million in new loans and grants at an event in Yanbu.The socially distanced gathering at the King Fahd Cultural Center in Yanbu saw Wa’ed recommend two loans and three incubation seed grants to five new start-ups. Wa’ed on Sept. 6 set aside SR10.2 million for six start-ups at its first roadshow in Jubail.The Yanbu roadshow highlighted the petrochemicals sector and drew entrepreneurs from a range of fields. The remaining roadshows will focus on drones, security technology, reverse engineering, green tech, fintech and tourism, among other sectors.“With this second round of support in Yanbu, Wa’ed is...
September 25, 2021

Wa’ed raises support to Saudi entrepreneurs to SR19.1 million

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Geothermal power push points to record well count in 2021, growth set to bring billions to drillers
OSLO — Renewed interest in the geothermal sector in recent years, which has seen oil and gas majors make investments in numerous startups, is set to see a new record in the number of wells drilled for power generation, surpassing 200 this year for the first time.Spending on geothermal activity is expected to boom in the coming years, with global well capital expenditure breaking the $1 billion threshold in 2021 before soaring to $3 billion in 2026, if government targets worldwide are to be met.According to Rystad Energy’s geothermal dashboard — which covers more than 1,700 geothermal power generation and direct use projects globally — there has been an uptick in drilling activity in the last six years.We estimate that, between 2015 and 2020, around 1,100 geothermal wells were...
September 25, 2021

Geothermal power push points to record well count in 2021, growth set to bring billions to drillers

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