logo
Itmam awarded project with Social Development Bank

Itmam awarded project with Social Development Bank

Argaam4 hours ago
Itmam Consultancy Co. won a contract for the Social Development Bank's (SDB) Dulani Business Center Operation 2025 project.
In a statement to Tadawul today, Aug. 5, the company said the contract is valued at more than 23% of its 2024 revenues.
The scope of the work includes the provision of non-financial services for projects, freelancers, and micro-enterprises, extending all the technical support and equipment as necessary.
The project award letter was received at today's trading close, it added, noting that there are no related parties to the transaction.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Saudi KAUST's Center of Excellence for Renewable Energy Advances Energy Innovation
Saudi KAUST's Center of Excellence for Renewable Energy Advances Energy Innovation

Asharq Al-Awsat

timean hour ago

  • Asharq Al-Awsat

Saudi KAUST's Center of Excellence for Renewable Energy Advances Energy Innovation

Saudi Arabia's King Abdullah University of Science and Technology (KAUST), through its Center of Excellence for Renewable Energy and Storage Technologies (CREST), has launched initiatives to support innovation in energy fields, in alignment with the goals of Saudi Vision 2030 to transition toward a knowledge-based economy and build sustainable development. These efforts include transforming new ideas into practical solutions, developing prototypes of KAUST inventions and ensuring their reliability, and scaling up these prototypes through collaboration with local and international partners, reported the Saudi Press Agency on Monday. KAUST has leveraged the center's research to boost energy security, reduce environmental impact, create new job opportunities for youth, and continue advancing education, training, and workforce development. These steps aim to support and localize renewable energy research, boost academic and industrial collaboration, and position the center as a leading research hub and a preferred destination for students, researchers, and faculty members. CREST Chair Professor Husam Alshareef stressed that the center's research, focused on prototype development and technology scaling, enhances energy efficiency, reliability, storage, and sustainability. Many projects are based on innovative technologies developed at KAUST in cooperation with industrial partners. These include advanced photovoltaic cells and new battery chemistries that reduce cooling requirements and fire risks in harsh conditions, as well as lithium extraction and battery recycling to ensure a stable lithium supply and enhance the Kingdom's battery sector, he added. The center conducts research on sustainable cooling technologies aimed at improving the performance of electronic devices such as solar panels and LED lights, thereby extending their lifespan, he went on to say. Additional research includes storing energy in chemical fuels and generating electricity, testing and modeling energy storage technologies, and integrating them across disciplines within the university by merging research strategies involving experts in chemistry, engineering, and software development, he revealed.

CMA nods to Burgerizzr's capital hike to SAR 56M via bonus issue
CMA nods to Burgerizzr's capital hike to SAR 56M via bonus issue

Argaam

time3 hours ago

  • Argaam

CMA nods to Burgerizzr's capital hike to SAR 56M via bonus issue

The Capital Market Authority (CMA) approved Shatirah House Restaurant Co.'s (Burgerizzr) request to raise capital from SAR 35 million to SAR 56 million via a 3:5 bonus issue. In a statement today, Aug. 5, the market regulator said bonus shares will be eligible to shareholders registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day following the record date, which will be determined later by the company's board of directors. The planned capital hike will be funded by capitalizing SAR 21 million from the company's retained earnings account. Consequently, the number of the company's outstanding shares will rise from 35 million to 56 million. The deciding extraordinary general meeting (EGM) shall be held within six months from this approval date and the company shall satisfy all regulatory requirements and applicable laws. According to Argaam 's data, Burgerizzr's board recommended, on Feb. 16, a 60% capital increase from SAR 35 million to SAR 56 million via a 3:5 bonus issue, to be funded by capitalizing SAR 21 million from retained earnings.

Saudi Arabia launches VAT refund for tourists
Saudi Arabia launches VAT refund for tourists

Saudi Gazette

time3 hours ago

  • Saudi Gazette

Saudi Arabia launches VAT refund for tourists

Saudi Gazette report JEDDAH — Saudi Arabia has officially begun implementing its value-added tax (VAT) refund program for tourists and Gulf Cooperation Council (GCC) nationals, enabling eligible visitors to reclaim 15% VAT on qualifying purchases through 1,442 authorized retail outlets across the Kingdom, Saudi Gazette has learned. The move is part of the Kingdom's broader efforts to enhance the tourism and shopping experience, increase Saudi Arabia's appeal as a global destination. The VAT refund system is available to non-resident tourists aged 18 and older. To qualify, total purchases must exceed SR500, and the goods must be unused, for personal use only, and exported within 90 days of purchase. Services such as accommodation and meals are excluded, as well as specific items like vehicles, boats, aircraft, food and beverages, tobacco products, and petroleum can request a VAT exemption form at the point of sale by presenting their passport or GCC ID, and may combine up to three invoices from the same retailer on the same day to reach the eligibility departure, travelers must validate their tax-free form at one of 18 verification points currently available at three international airports: 10 at King Khalid International Airport in Riyadh, four at King Abdulaziz International Airport in Jeddah, and four at King Fahd International Airport in can be issued either by card or in cash, with a daily cash refund cap of SR5,000 per person. However, cash refunds are not available at the North Terminal of Jeddah's King Abdulaziz VAT refund initiative aims to promote sustainable tourism spending, streamline shopping experiences, and encourage visitors to extend their stays and explore more of Saudi Arabia's retail landscape.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store