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Tesla rival Lucid Motors wants to build factory in Saudi Arabia
February 21, 2019

LONDON: A US-based electric-vehicle company that raised more than $1 billion from Saudi Arabia wants to build a factory in the Kingdom, and says its mission to build “the best car in the world” is well underway.

The California-based Lucid Motors is developing its first model, the Air, which it hopes to sell for more than $100,000 when it enters production in less than two years’"...

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Saudi Aramco discussing investments in India’s Reliance Industries
February 21, 2019

NEW DELHI: Saudi Aramco’s CEO Amin Nassar said on Wednesday that the company is in talks with India’s Reliance Industries for possible investments and is seeking other opportunities in the country.

Saudi Aramco signed an agreement in April with a consortium of state-owned Indian refiners to participate in a $44 billion refinery project on the country’s west coast.

“We"...

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Saudi crown prince’s India visit to boost bilateral investment
February 21, 2019

Many Indian businesses that already operate in the Kingdom are interested in expanding as part of Vision 2030. Retail company Lulu Group International, for example, plans to open 12 new hypermarkets and five malls in Saudi Arabia by next year.

It already employs more than 2,700 Saudi nationals and plans to increase this number to about 5,000 by 2020.

“Saudi"...

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Saudi-backed Lucid Motors spells out vision for the future of electric cars
February 21, 2019

LONDON: For Lucid, one thing is clear: The US electric-vehicle company aims to build the “best car in the world.”

It certainly faces a lot of competition in that regard, given the raft of startups specializing in electric cars that have emerged in recent years, and Elon Musk’s Tesla being streets ahead in the mass-production race.

But"...

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Expected sovereign sukuk issuances in 2019
February 21, 2019

Saudi Arabia issued domestic sukuk worth SR7.1 billion ($1.9 billion) in January and plans to issue international sukuk in the second half of the year. The Kingdom is also considering a debut savings sukuk for retail investors – in addition to the regular monthly domestic sukuk auctions that it started in July 2017.

• Qatar also already started issuing domestic sukuk in January (QAR4 billion, equivalent to $1.1 billion), but international sukuk"...

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SEC inks SR15.2 billion funding deal with local banks
February 21, 2019

RIYADH — The Saudi Electricity Company (SEC) on Wednesday signed a joint financing agreement with six local banks for a maximum amount of SR15.2 billion. “This medium-term financing without guarantees is for a period of seven years with a grace period of two years,” the company said in a statement carried by the Saudi Press Agency after signing the agreement at SEC headquarters in Riyadh.

The SEC Acting CEO Fahd Al-Sudairy said this financing"...

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Paladion collaborates with all major sectors in Saudi Arabia
February 21, 2019

PALADION, a global cybersecurity company with strong regional focus, has been operating in the Kingdom of Saudi Arabia since 2008 and the executive vice president and regional head for EMEA for Paladion, Amit Roy said “over the past decade of operations in the country, several enterprises across sectors have partnered with us to help them achieve their Information Security initiatives.”

Speaking about the state of cybersecurity in Saudi Arabia,"...

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Continental gets set for Mideast expansion
February 21, 2019

2019 is set to be a promising year for the premium German tire and technology company, Continental, with the opening of its first-ever office in Jeddah, Saudi Arabia. Aimed to expand company’s presence and strengthen its foothold in the region, the new joint venture project is in partnership with Continental’s previous distributer in Saudi Arabia, Almutlak Trade & Industries, and will support the growing demand for Continental’s products and services"...

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#FrontRowGlam on Twitter in partnership with Sayidaty
February 21, 2019

THE first episode of the new fashion news series, #FrontRowGlam, that is taking place in partnership with Twitter and Sayidaty streamed on Sunday. Exclusively broadcast on Twitter in Arabic, the series will keep viewers informed on what’s happening during the Big Four Fall 2019 fashion weeks in New York, London, Milan and Paris.

Produced by Sayidaty, the five minute series will cover the latest in fashion and beauty through multiple segments this"...

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DETASAD sponsors Saudi IoT conference in Riyadh
February 21, 2019

RIYADH — Detecon Al-Saudia (DETASAD), an end-to-end ICT solution provider and a leading contributor of ICT sector of the Kingdom of Saudi Arabia for more than 36 years, sponsored the ‘‘2nd Saudi International Exhibition & Conference for Internet of Things (IoT)’’ event in Riyadh under the governance of Ministry of Communication & Information, Technology in line with the Saudi government’s digitization goals, the National"...

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