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Saudi Awwal Bank wins Euromoney Best Bank for ESG award for third consecutive year

Saudi Awwal Bank (SAB) has once again been named “Best Bank for ESG” in Saudi Arabia by Euromoney for the third consecutive year, reaffirming the bank’s leadership in driving sustainable finance and advancing ESG principles across the Kingdom’s banking sector.This prestigious recognition reflects SAB’s continued commitment to embedding environmental, social, and governance (ESG) values into its operations, reporting, and stakeholder engagement.The bank’s sustainability strategy focuses on creating long-term value while supporting Saudi Arabia’s Vision 2030 goals and the global sustainable development agenda.Tony Cripps, Managing Director & CEO of SAB, stated: “Receiving this award for the third consecutive year is a powerful validation of our journey toward responsible...

May 21, 2025

Saudi Awwal Bank wins Euromoney Best Bank for ESG award for third consecutive year

Jimmy launches in Saudi Arabia with Amit Trading Co. as exclusive distributor

JIMMY, a global innovator in household appliances, officially launched in the KSA following a successful event with exclusive distribution partner Amit Trading Co.The leading global brand, known for creating innovative technology for a smart lifestyle, has announced its official entry into the Kingdom of Saudi Arabia market.JIMMY focuses on developing cutting-edge floorcare appliances, boasting over 2200 patents and a team of 800 experienced R&D engineers. The brand's commitment to excellence is reflected in its numerous design awards, including the German Design Award and the Red Dot Award.JIMMY has entered the UAE and KSA markets with a range of modern and advanced home and personal care products, including a line of cordless, wet and dry, and anti-mite vacuum cleaners. This...

May 21, 2025

Jimmy launches in Saudi Arabia with Amit Trading Co. as exclusive distributor

AWJ Investment secures 40% stake in Oud Real Estate, launching ambitious investments exceeding SR8 billion

AWJ Investment, a subsidiary of AWJ Holding, announced the acquisition of a 40% stake in Oud Real Estate. This strategic partnership is set to drive the development of branded residential, commercial, and hospitality projects, with projected investments exceeding SR8 billion over the next five years.This collaboration combines AWJ's financial expertise with Oud's innovative approach to creating lifestyle destinations that celebrate Saudi heritage. Since its establishment in 2016, Oud Real Estate has earned acclaim for its culturally infused, design-forward developments that reflect the evolving urban landscape of Saudi Arabia.Abdulaziz Al-Mousa, CEO of AWJ Holding, remarked on the significance of this partnership in relation to the Kingdom's Vision 2030:"Saudi Arabia is...

May 21, 2025

AWJ Investment secures 40% stake in Oud Real Estate, launching ambitious investments exceeding SR8 billion

Saudi Awwal Bank and HSBC secure strategic mandate to power Riyadh Air’s expansion across Middle East and Asia

Saudi Awwal Bank (SAB), one of the leading banks in the Kingdom of Saudi Arabia and HSBC, the global banking and financial services organisation, have together been awarded the Middle East and Asia Cash Management Mandate for Riyadh Air, Saudi Arabia’s digital native carrier, as it prepares to commence operations in 2025.For over 70 years, HSBC and SAB’s banking partnership has enabled clients in the Kingdom to grow domestically and expand internationally.Together, SAB and HSBC will work closely with Riyadh Air to provide an integrated and seamless cash management program to manage all payment and liquidity needs across the two regions.As domestic house bank, SAB will oversee operations within Riyadh Air’s home market of Saudi Arabia when it begins operations, including facilitating...

May 20, 2025

Saudi Awwal Bank and HSBC secure strategic mandate to power Riyadh Air’s expansion across Middle East and Asia

MAGRABi Retail Group acquires leading Kuwaiti retailer Kefan Optics

MAGRABi Retail Group, the Middle East’s leading eyewear retailer, announces the proposed acquisition of 100% of the issued share capital of Kefan Optics Company KSCC, one of the largest eyewear retailers in Kuwait.Following the acquisition, the MAGRABi customer-centric ethos will be seamlessly integrated into the existing Kefan stores, whilst maintaining the Kefan brand, bringing a premium MAGRABi experience to elevate the overall customer journey.The acquisition paves the way for a new era in eye care throughout Kuwait and the refreshed stores will raise the bar for superior service and quality nationwide.MAGRABi Retail Group’s ongoing focus on innovation and omnichannel excellence will create a cohesive experience between stores and digital channels across the MENA region, enriching...

May 19, 2025

MAGRABi Retail Group acquires leading Kuwaiti retailer Kefan Optics

US loses final triple-A credit rating as Moody’s cites rising debt and deficits

WASHINGTON — The United States has lost its last remaining perfect credit rating after Moody’s downgraded the country’s status from 'AAA' to 'Aa1', citing mounting concerns over debt sustainability and growing interest costs.The downgrade, announced Friday, marks the first time since 1917 that Moody’s has assigned anything less than a top-tier rating to U.S. government bonds.The move follows earlier downgrades by S&P Global Ratings in 2011 and Fitch Ratings in 2023, making this the final blow to the U.S.'s decades-long status as a triple-A borrower.Moody’s said the decision reflects a significant and sustained increase in the federal debt burden and interest payment ratios, now well above levels of similarly rated economies.The agency projected that U.S. debt...

May 17, 2025

US loses final triple-A credit rating as Moody’s cites rising debt and deficits

PIF appoints Saad Alkroud to lead local real estate investments, Maram Al Johani as acting chief of staff

Saudi Gazette reportRIYADH — The Public Investment Fund (PIF) has announced key leadership appointments following the transition of Eng. Aiman AlMudaifer to Managing Director and Chief Executive Officer of NEOM.These appointments are part of PIF’s continued efforts to strengthen its leadership foundation and drive forward its strategic mandate.Saad Alkroud has been named Head of the Local Real Estate Investment Division, taking over the portfolio previously overseen by AlMudaifer.Alkroud has served as Chief of Staff at PIF since 2021 and brings extensive experience in strategic planning and stakeholder management.In his new role, he will be responsible for developing and expanding PIF’s real estate and infrastructure investment portfolio, which includes Saudi Arabia’s landmark...

May 15, 2025

PIF appoints Saad Alkroud to lead local real estate investments, Maram Al Johani as acting chief of staff

US President Donald Trump, Qatar's Emir Tamim bin Hamad Al Thani and Boeing CEO Kelly Ortberg attend a signing ceremony in Doha, Qatar on May 14, 2025

Boeing secures ‘largest-ever’ order from Qatar during Trump visit

DOHA — Boeing has secured a deal with Qatar for up to 210 jets in what the White House is calling the aircraft maker’s “largest-ever” widebody order, worth $96 billion.The order comes as the Gulf state’s prime minister, Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani, dismissed controversy surrounding US President Donald Trump’s plan to accept a Boeing 747-8 to be used, at least initially, as Air Force One, telling CNN’s Becky Anderson on Wednesday that it’s simply a “government-to-government transaction,” not a personal gift to Trump.The potential transfer of the jet, which Trump has said would be donated to his library after he leaves office, has been criticized by Democrats and Republicans alike, with some of Trump’s own supporters pointing to the appearance...

May 15, 2025

Boeing secures ‘largest-ever’ order from Qatar during Trump visit

Arab European Cities Dialogue concludes in Riyadh with strengthened urban partnerships and sustainable development recommendations

The first edition of the Arab European Cities Dialogue concluded in Riyadh on Sunday after three days of discussions under the theme “Bridging Cities, Building Futures.” The forum was organized by the Riyadh Municipality in collaboration with the Arab Urban Development Institute (AUDI), PLATFORMA, and VNG International.The conclusion of the event marked the culmination of a busy agenda featuring plenary sessions, workshops, and roundtable discussions that addressed key challenges and opportunities in sustainable urban development. The forum brought together high-level participation from mayors and city leaders from across the Arab world and Europe, along with representatives from international organizations, development funds, and municipal alliances.The sessions covered various...

May 14, 2025

Arab European Cities Dialogue concludes in Riyadh with strengthened urban partnerships and sustainable development recommendations

STC Bank partners with Arthur Lawrence for operational outsourcing, job description development services

STC Bank has announced on Monday, on the sidelines of the Saudi-U.S. Investment Forum 2025, an agreement with Arthur Lawrence to deliver operational outsourcing and job description development services to the bank.As part of the agreement, STC Bank will now be supported by Arthur Lawrence in developing and aligning job descriptions for roles across the company to ensure alignment with STC Bank’s vision. Arthur Lawrence will also be responsible for delivering required outsourced human resources to the bank. By leveraging its proven methodologies and sector expertise, Arthur Lawrence will help ensure that every role at STC Bank is aligned with the bank’s evolving business goals, enhancing operational clarity and enabling smarter workforce planning across all departments.Arthur Lawrence...

May 14, 2025

STC Bank partners with Arthur Lawrence for operational outsourcing, job description development services

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