Yaqeen Capital notified of Al-Mozaini terminating Nomu listing deal
On June 4, Yaqeen Capital signed an agreement with Al-Mozaini to arrange the latter's IPO on Nomu, according to data available with Argaam.
Upon completion of all stages, the revenues generated from the transaction were expected to exceed 5% of Yaqeen Capital's total revenues of SAR 89.48 million, based on the latest audited annual financials for 2024.
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Saudis to get more leadership roles as PepsiCo expands, says regional CEO
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Arab News
3 hours ago
- Arab News
Pakistan ruling party chief discusses strengthening bilateral defense, economic ties with Saudi envoy
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Arab News
3 hours ago
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Saudi Motorsport Company earns FIA's top environmental accolade
JEDDAH: Saudi Motorsport Company has received the prestigious Three-Star rating under the FIA Environmental Accreditation Program, marking a significant step forward in the Kingdom's drive to combine elite motorsport with international sustainability standards. For the latest updates, follow us @ArabNewsSport The award, the highest recognition granted by the Federation Internationale de l'Automobile, follows a detailed independent audit that assessed the company's environmental practices across 17 key criteria. The rating places the Saudi entity among an elite group of motorsport organizations globally, being certified at the top level. The audit evaluated the company's environmental management system using international frameworks, including ISO 14001. According to the federation, the Three-Star rating is reserved for stakeholders that demonstrate 'best practice and continuous improvement,' reflecting a strategic, long-term commitment to sustainability. The company's achievement represents a broader shift in how motorsport is being positioned in Saudi Arabia, as a vehicle for both entertainment and environmental consciousness. It has integrated sustainability across its operations, from event logistics and infrastructure to energy use and resource management. This approach aligns closely with Saudi Vision 2030, which promotes economic diversification, sustainable development and a more vibrant society. It also reinforces the goals of the Saudi Green Initiative, launched to combat climate change and accelerate the transition toward renewable energy. Saudi Motorsport Company said in a press release: 'Receiving the Three-Star rating is a testament to the dedication and vision behind every event we deliver. It's not just about hosting races, it's about doing so responsibly, in a way that contributes positively to society and the environment.' The certification also signals the company's intention to become a regional benchmark for sustainability in motorsport, using high-profile events such as the Formula 1 Saudi Arabian Grand Prix, Dakar Rally, and WRC Rally Saudi Arabia to promote environmental awareness and green practices. Founded under the umbrella of the Saudi Automobile and Motorcycle Federation, the Saudi Motorsport Company plays a central role in shaping the Kingdom's motorsport ambitions. With more than 180 professionals overseeing everything from track operations at the Jeddah Corniche Circuit to international partnerships, the company is positioning Saudi Arabia as a key player in global motorsport.
