Saudi Exports, Jedco sign deal to enhance bilateral ties, share expertise on non-oil exports
Under the MoU, Saudi Exports and JEDCO seek to enhance relations between Saudi Arabia and Jordan and exchange expertise on developing non-oil exports.
The MoU was signed on the margins of the Saudi-Jordanian Business Forum.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
an hour ago
- Zawya
Saudi Arabia begins enforcement of higher localization rates in pharmacy, dentistry, and engineering sectors
RIYADH — The Ministry of Human Resources and Social Development (MHRSD) announced the implementation of updated Saudization targets in key professional sectors, starting Sunday, July 27, 2025. The move comes in collaboration with supervisory bodies including the Ministry of Health and the Ministry of Municipal and Rural Affairs and Housing. The updated Saudization plan targets pharmacy, dentistry, and technical engineering professions as part of ongoing efforts to expand the participation of Saudi nationals in the labor market and create productive employment opportunities across the Kingdom. In partnership with the Ministry of Health, the Saudization rate for pharmacy roles has been raised to 35% in community pharmacies and medical complexes, 65% in hospital pharmacy operations, and 55% in other pharmacy-related activities. This applies to establishments with five or more employees in pharmacy roles, with a minimum wage threshold of SR7,000 to count toward localization quotas. Dentistry jobs are now required to meet a 45% Saudization rate in the first phase, also effective today. The decision applies to facilities employing three or more dental professionals, with the minimum salary for inclusion in the quota set at SR9,000. Meanwhile, in coordination with the Ministry of Municipal and Rural Affairs and Housing, technical engineering professions must now meet a 30% Saudization target in establishments with five or more employees in these roles. A minimum monthly wage of SR5,000 has been set to qualify for localization compliance. The ministry said it has published procedural guides on its official website detailing the required quotas and application mechanisms, urging all establishments to comply in order to avoid penalties. The update continues the Kingdom's broader nationalization strategy within the private sector. While the Ministry of Health will oversee the implementation of Saudization in dental and pharmacy professions, the Ministry of Municipal and Rural Affairs and Housing will monitor compliance in technical engineering fields. Private sector entities will also benefit from support programs offered by the Human Resources and Social Development system, including recruitment incentives, training, job retention, and priority access to Saudization assistance through the Human Resources Development Fund (HRDF). © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
2 hours ago
- Zawya
The CMA approves an incentive measure to support credit-rated debt instruments
The Capital Market Authority's (CMA's) Board approved an incentive measure for public offerings of debt instruments, granting priority in the review of public offering applications to issuers or issuances that have obtained a credit rating from a CMA-licensed credit rating agency. This measure will remain in effect until the end of 2026. This initiative comes as part of the CMA's commitment to enhancing the efficiency and transparency of the debt instruments market and supporting its role as a primary source of business financing and economic growth. It also aims to encourage issuers of publicly offered debt instruments to obtain credit ratings to broaden investor participation and strengthen the market's depth and efficiency. This measure forms part of the CMA's strategy to deepen the Saudi capital market and enhance its attractiveness and transparency, in line with the objectives of Saudi Vision 2030 to diversify funding sources and promote financial sustainability. A credit rating is not merely an indicator of the issuer's creditworthiness; rather, it serves as an effective tool enabling investors to make well-informed investment decisions. Through this measure, the CMA aims to build a more mature and stable debt instruments market with a diversified investor base and strengthened confidence among all participants. It also seeks to expand the investor base by enabling them to assess the risks of investing in publicly offered debt instruments, in addition to accelerating the review procedures by the CMA. This measure is expected to enhance companies' access to the debt instruments market to meet their financing needs, stimulate the number of issuances, and increase the attractiveness of offerings to investors. A credit rating facilitates the financial advisor's ability to market the offering, particularly to institutional and qualified investors who rely on such ratings in their investment decisions. A credit rating is defined as a forward-looking opinion on credit risk, which reflects the likelihood of issuers defaulting on their financial obligations in the short or long term, as well as the potential severity of financial losses for creditors in the event of default. Issuers use credit ratings to signal their creditworthiness and attract investors, while investors rely on them to support their credit analysis of issuers and debt instruments.
Zawya
17 hours ago
- Zawya
Zain KSA reports 28% increase in H1 net profit
With revenues Reaching SAR 5.344 Billion Zain KSA, a leading provider of telecommunications and digital services in Saudi Arabia, announced its financial results for the first half of 2025. The Company reported a 5% year-on-year growth in total revenues to SAR 5.344 billion. This drove a 28% y-o-y surge in net profit, reaching SAR 220 million for the period. Earnings before interest, taxes, depreciation, and amortization (EBITDA) also rose by 7%, to SAR 1.664 billion. These results reflect the Company's sustained positive financial performance, driven by revenue from growing business operations and ongoing investments that aim to deliver a superior user experience. The sustained growth stems from Zain KSA's expanding portfolio of 5G products, solutions, and services. This is also a result of the broader reach of 4G and 5G networks across the Kingdom, as well as a higher demand for direct consumer offerings, particularly through the all-digital service Yaqoot. The Company continues to see strong performance from its investments in adjacent markets, including FinTech, led by the increasing demand for services offered by Tamam. Commenting on the results, Eng. Saad bin Abdulrahman AlSadhan, CEO of Zain KSA, stated: 'Innovation and progress centered on national and human development are at the heart of Zain KSA's strategy. Our commitment is to support nationwide progress and enrich the lives of people, and we place these priorities at the forefront of every strategic investment, in line with Saudi Vision 2030's economic, social, and digital goals.' AlSadhan added: 'Our H1 2025 financial results reaffirm the continued growth of our operations and financial metrics, anchored in sustainability and effective governance. This performance has further cemented our position as the telecoms and digital services provider of choice in the Kingdom. During Hajj season 1446H, Zain KSA demonstrated its digital leadership by enhancing pilgrims' experiences through AI-powered services, delivering a truly exceptional digital journey backed by our advanced 5G infrastructure. We began deploying 5G Stand-Alone network over the 600 MHz low band and successfully extended 4G and 5G coverage within Riyadh's Abu Bakr Al-Siddiq Tunnel, one of the longest tunnels in the Middle East.' 'Within Zain KSA, we remain focused on building a healthy, sustainable workplace that prioritizes employee wellbeing and supports professional growth. Our efforts were honored at the Council of Health Insurance (CHI) Excellence Awards 2024, where we received two accolades for Best Employer Health & Wellbeing Program for Large Enterprises and Health Awareness Excellence for Large Enterprises.' Committed to delivering a best-in-class digital experience, Zain KSA has launched a pioneering service enabling visitors to Saudi Arabia to register and verify their SIM cards through Yaqoot, using the Ministry of Interior's 'Absher' app authentication service (WTHIQ). This innovative integration makes Yaqoot the first digital telecom service in Saudi Arabia to offer online SIM verification.
