Riyadh Air adds more routes, Al Kathiri + Anaam investors get compensation

Riyadh Air added three new international routes to its network, bringing its total destinations to nine. The carrier opened bookings for flights connecting Riyadh with Kuala Lumpur, Malaga, and Dhaka.

REMEMBER- The airline previously launched routes to Jeddah, Dubai, Cairo, Madrid, and Manchester after receiving its first three Boeing 787 Dreamliner aircraft. It also launched its first commercial international flight to London Heathrow this month and received clearance to use US airspace. This is part of a plan to integrate one Boeing 787-9 Dreamliner into its fleet each month and launch two new destinations every two months, reaching 100 cities by 2030.

Investors compensated for Al Kathiri, Anaam violations

The Capital Market Authority (CMA) has paid out compensation to more than 20k investors affected by “violations committed in the shares” of Al Kathiri Holding and Anaam International Holding, it said in a statement. The payout came following a final ruling obliging the perpetrators to pay back SAR 292.8 mn in illegal gains.

REMEMBER- Seven members of Albanyan family and one outsider were accused of upping their stake in the two listed investment companies in 2020, far exceeding the 5% minimum stake investors must disclose to Tadawul.

Al Khobar to get SAR 994 mn healthcare campus

Prince Mohammed bin Fahd University awarded an SAR 994 mn (USD 262 mn) contract to Chinese state-owned Zhejiang Construction Investment Group, according to a press release. The contract involves building a 60k sqm healthcare campus in Al Khobar, featuring a 10-story specialty hospital equipped with advanced medical systems and integrated clinical infrastructure.