Latest from Argaam
Argaam
an hour ago
- Politics
- Argaam
Trump says to decide on Iran action in next 2 weeks
The White House said President Trump will make a decision on potential strikes on Iran "within two weeks." Citing a message from Trump, White House Press Secretary Karoline Leavitt told reporters: "Based on the fact that there's a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks."
Argaam
an hour ago
- Business
- Argaam
SAMA issues updated rules for issuance, operation of credit cards
The Saudi Central Bank (SAMA) issued the updated rules for the issuance and operation of credit cards. The updated rules aim to reduce costs for customers and enhance disclosure and transparency related to credit card transactions. They also seek to keep pace with ongoing developments and align with the growing variety of credit card products in line with global best practices. The rules include detailed provisions on the issuance and operation of credit cards and increased clarity regarding financial transactions related to the cards. This is in addition to increasing financial awareness among customers, as well as creating innovation-friendly regulatory environment in the financial sector. SAMA also coordinated with global payment companies to review and reduce the costs associated with credit card transactions. This move is part of SAMA's broader efforts to develop and strengthen the digital payments ecosystem and offer diverse payment solutions to both residents and visitors in retail outlets across the Kingdom, in line with Vision 2030.
Argaam
5 hours ago
- Business
- Argaam
Madinah receives over 18M visitors in 2024
The tourism sector in Madinah has witnessed a remarkable growth in the number of visitors over the past three years, with the holy city receiving more than 18 million visitors in 2024, compared to 14.1 million visitors in 2023 and 8.2 million visitors in 2022. According to a report issued by the Madinah Chamber, the activities of the accommodation sector, travel agencies, and tour organization saw an increase of 18.7% year-on-year in 2024, state-run Saudi Press Agency reported. The report highlighted the importance of the tourism sector in Madinah in supporting economic growth and boosting GDP through tourism spending on accommodation, transportation, shopping, and other services, in addition to creating job opportunities in the sector's activities and achieving sustainable economic diversification.
Argaam
7 hours ago
- Business
- Argaam
Talal Al-Marri named CEO of Expo 2030 Riyadh
Expo 2030 Riyadh Co. (ERC), which is wholly owned by the Public Investment Fund (PIF), appointed Talal bin Hussein Al-Mari as Chief Executive Officer. Al-Mari will be responsible for managing the company overseeing the development and operation of Expo 2030 Riyadh. Al-Mari has held several leadership positions at Aramco, most notably as President and CEO of Aramco Europe, Senior VP of Community Services, and Senior VP of Industrial Services. During his tenure as President and CEO of Aramco Europe, Al-Mari oversaw the company's investments in Europe and led various strategic initiatives that supported the company's digital transformation efforts. He also undertook several international assignments in London and Seoul while serving in this role. Earlier today, PIF announced the launch of Expo 2030 Riyadh Co., a wholly owned subsidiary tasked with developing and operating the Expo 2030 Riyadh site's facilities — being the first-of-its-kind event to be hosted in Saudi Arabia. ERC will oversee the construction and long-term investment of the Expo's facilities.
Argaam
7 hours ago
- Business
- Argaam
SIIG deposits post-capital cut fractional shares proceeds
Saudi Industrial Investment Group (SIIG) deposited proceeds from selling fractional shares resulting from its recent capital reduction in the accounts of eligible shareholders. In a statement to Tadawul today, June 19, the company said the fractional shares sale ended on June 1. As many as 24,427 shares were sold at a total of SAR 371,576, at an average price of SAR 15.21 apiece. According to Argaam data, SIIG shareholders recently approved a 10% capital cut to SAR 6.79 billion from SAR 7.54 billion at an extraordinary general meeting (EGM), citing excess capital. Shareholders will be compensated for the cancelled shares through a cash distribution of SAR 754.8 million (SAR 10 apiece).
