The news, anew
In King Abdullah Economic City (KAEC) on Saudi Arabia's Red Sea coast, a new industrial hub is taking shape with the goal of moving the Kingdom's automotive sector beyond simply attracting global manufacturers toward building an integrated ecosystem encompassing vehicle production, component manufacturing, logistics services, and workforce development.
Business
Saudi Arabia’s Acwa and US-based EIG Management Co. have launched a joint venture named Plenum Power, targeting an initial equity commitment of $4 billion for US power generation and energy storage investments. With Acwa holding a 49% stake and EIG 51%, the partnership aims to leverage their combined expertise to capitalize on growth in the evolving US power market.
Business
Firms with revenue of Dh50 million and above face Dh5,000 monthly fines if they miss tomorrow’s e-invoicing deadline, but advisers say appointment is the first step
Business
The principle arose after a landlord discovered that the company they signed a lease agreement with were involved in previous rental claims stemming from failure to pay amounts due, Rental Disputes Center said
