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Author Archives: enterpriseam admin
Posted inGIGAPROJECTS
Everything is on track at Neom, officials tell global contractors after report of a slower build-out
Neom said it expects its construction workforce to rise to over 200k by 2025 though leading contractors participating in the forum
Posted inECONOMY
World Bank sees Saudi growth at 2.5% this year, down from its previous estimate of 4.1%. Oil production caps are to blame.
The multilateral lender expects the local economy to grow 5.9% next year
Posted inECONOMY
Inflation cooled on an annual basis in March 2024
Producer prices rose 3.8% y-o-y in March 2024
Posted inM&A WATCH
Budget Saudi unit takes majority stake in UAE freight forwarder
It remains unclear if the sealed acquisitions of Overseas Development subsidiaries in Saudi and Kuwait by Rahaal would follow
Posted inSTARTUP WATCH
Procurement startup Penny Software raises pre-series A round
Iliad Partners’ investment in Penny Software is its first in Saudi
Posted inMOVES
Saudi Fisheries dismisses CEO, appoints CFO as temporary chief
The company’s chief financial officer is the new acting CEO
Posted inALSO ON OUR RADAR
Cement manufacturers see sales drop 14% y-o-y in March. PLUS: Debt, hospitality news
Prefect Presentation for Commercial Service | Al Hokair Group
Posted inPLANET FINANCE
European Central Bank will likely cut rates this summer
The ECB kept rates unchanged when it met last Thursday
Posted inDIPLOMACY
Bin Farhan talks green energy, investment with Uzbek leader
Saudi renewables giant Acwa Power has poured some USD 7.5 bn into renewable energy projects in Uzbekistan to date