GAA offers special post-VAT scheme to its customers

Updated 17 January 2018
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GAA offers special post-VAT scheme to its customers

Gulf Advantage Automobiles (GAA) has recently launched an attractive scheme offering its clients a chance to buy the latest Renault, while GAA “takes care of the Value Added Tax (VAT).”
The campaign offers the opportunity to own any of Renault cars including the Duster SUV, the compact Symbol, the superb Renault Captur, the luxurious Koleos SUV, the amazing Talisman sedan and the stylish Megane sedan. The company also offers a 5-year/150,000 km warranty on its entire Renault product range.
The campaign follows a series of special deals by the company to satisfy its customers by providing the best offers for acquiring a Renault car. It also confirms the great success and growing demand for Renault cars in the Saudi market, as they offer new models and a wide range of modern and innovative vehicles to suit all segments and meet the expectations of various customers in the Kingdom.
Recognized as the number one European brand in Saudi Arabia and awarded for exceptional customer satisfaction, Renault cars are characterized by contemporary and innovative features, stylish designs, powerful engines and most importantly, functionality for everyday use.
All Renault cars feature the ideal and perfect balance that combines attractive prices, high quality, and competitive advantages, in addition to the adoption of the highest safety standards.
Renault vehicles are tested at Renault Middle East hub in the UAE to conform to weather conditions in the Gulf region, which earned its customers trust and confidence and made them the perfect and favorite cars especially in the Saudi market.
For more information on Renault offers and the services provided by Gulf Advantage Automobiles, visit any GAA showrooms across Saudi Arabia or call 8002445050.


STC Bank partners with PLDT Global to expand digital payment solutions

Updated 1 min 13 sec ago
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STC Bank partners with PLDT Global to expand digital payment solutions

STC Bank, a leading Saudi digital bank, has entered into a strategic partnership with PLDT Global Corporation, the international arm of PLDT Inc., to enhance digital financial solutions and payment accessibility for its customers in Saudi Arabia.
As part of the strategic partnership, STC Bank will be available as a payment option within PLDT Global’s digital marketplace, Tindahan ni Bossing, and include Vortex products on its marketplace. Vortex, PLDT Global’s robust, secure, and integration-ready digital distribution platform, ensures seamless transactions for users, enabling them to conduct smooth and secure digital payments.
By leveraging its digital banking infrastructure and expertise, STC Bank will facilitate financial inclusion, streamline cross-border payments, and enhance cybersecurity measures to safeguard digital transactions for PLDT’s customers in Saudi Arabia.
“At STC Bank, we are driving financial inclusion through innovation that empowers individuals and businesses alike. Our collaboration with PLDT Global aligns with our mission to enhance digital banking accessibility, ensuring seamless and efficient transactions for our customers, no matter how far they are from their home countries” said Nizar Altwaijri, CEO of STC Bank.
“We are thrilled to join forces with STC Bank. This partnership will enable us to provide every Filipino and our other customers in Saudi Arabia with convenient and secure payment options that meet their evolving needs. Together, we are committed to empowering businesses and communities at home and abroad,” said Albert V. Villa-Real, president and CEO at PLDT Global.
This strategic alliance is in line with STC Bank’s continued expansion into global digital ecosystems, reinforcing its commitment to offering cutting-edge financial services that cater to the evolving needs of Saudi citizens and residents in an increasingly digital economy.

 


Lean showcases leadership in digital healthcare innovation at LEAP 25

Updated 15 February 2025
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Lean showcases leadership in digital healthcare innovation at LEAP 25

Lean Business Services, a Public Investment Fund subsidiary, demonstrated its leadership in digital healthcare transformation at the LEAP 25 tech conference in Riyadh, presenting cutting-edge solutions designed to advance operational efficiency, diagnostic precision, and patient care across Saudi Arabia. This participation aligns seamlessly with the goals of Saudi Vision 2030 and the Health Transformation Program, reinforcing Lean’s commitment to driving innovation in healthcare.

As part of its participation, Lean forged strategic partnerships with leading local and international organizations. A notable collaboration with Ascend Solutions will establish advanced health command centers, leveraging big data analytics to enhance medical decision-making processes. Additionally, an agreement with Takamol Holding will facilitate the development of an AI-powered digital healthcare ecosystem. Lean also signed a memorandum of understanding with Elm to co-develop digital health solutions, and a framework agreement with Pfizer to integrate digital health innovations into the pharmaceutical landscape, enhancing patient experiences through cutting-edge technology.

At its booth, Lean unveiled pioneering technologies, including its digital twin solution, which uses AI-driven data analytics to create predictive health models for proactive healthcare planning. The company also showcased genomics technologies for precise diagnostics and personalized treatment, alongside its digital clinic, which is a mobile health unit providing advanced medical services anytime, anywhere, without the need for on-site medical staff.

The Lean booth attracted visits from key figures, including Minister of Health Fahad Al-Jalajel, Minister of Communications and Information Technology Abdullah Al-Swaha, and Director of the National Information Center Dr. Esam Al-Wagait, all of whom explored the company’s innovative healthcare solutions.

Lean’s participation at LEAP 25 reflects its ongoing mission to redefine healthcare through digital innovation, contributing to the development of an integrated, efficient, and sustainable digital health ecosystem that enhances quality of life and supports Saudi Arabia’s national transformation goals.


barq launches digital wallet in Pakistan

Updated 15 February 2025
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barq launches digital wallet in Pakistan

barq Holding, the parent company of barq Financial, has announced the launch of its barq digital wallet in Pakistan.

It is part of its strategy for international expansion and enhancing digital payment solutions in global markets.

This launch follows the wallet's success in Saudi Arabia, where the barq financial app has become one of the fastest-growing apps globally in a record time.

The barq wallet aims to provide a seamless and secure payment experience for its customers in Pakistan, offering advanced digital financial solutions, enabling individuals and businesses to carry out transactions with ease and efficiency.

Through this expansion, the company seeks to support the digital transformation efforts in the payments sector and promote financial inclusion in the region.

This launch is part of barq Holding's vision to strengthen its presence in global markets.

The company plans further regional and international expansions in the coming period, focusing on markets with high growth potential in the fintech sector.


Estithmar net profit increases by 20%, revenues rise by 44%

Updated 15 February 2025
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Estithmar net profit increases by 20%, revenues rise by 44%

Estithmar Holding announced its financial results for the year ended on Dec. 31, 2024, approved by the company’s board of directors.

The company recorded a 44 percent increase in revenues, reaching 4.2 billion Qatari riyals, compared to 2.9 billion Qatari riyals in 2023.

The gross profits of the company reached 1 billion Qatari riyals, up from 801 million Qatari riyals in 2023, reflecting a 27 percent increase.

The company also achieved earnings before interest, tax, depreciation, and amortization (Ebtida) of 742 million Qatari riyals. The results showed a 20 percent rise in the company’s net profit compared to 2023, reaching 422 million Qatari riyals. Earnings per share also increased by 17 percent from 2023, reaching 0.119 Qatari riyals per share.

The 20 percent growth in net profit is attributed to the increase in the company’s revenues, which were primarily driven by the contracting and healthcare clusters.

The contracting cluster expanded in executing and delivering projects efficiently in Saudi Arabia.

The healthcare cluster contributed to the rise in 2024 revenues.

It was driven by the sustainable performance growth of The View Hospital in Qatar, and the expansion of the cluster through the subsidiary Apex Health, which signed management and operation agreements for several hospitals.

A set of measures taken in the ventures cluster has also contributed to restructuring the business model and increasing revenues.

The financial results for 2024 reported a 25 percent increase in assets compared to the previous year, resulting from the new projects added to Estithmar Holding’s portfolio, including the Korean Medical Center in Lusail, the Rixos Baghdad project in Iraq, and the Rosewood Maldives Resort.

The board of directors of Estithmar Holding recommended a dividend distribution equivalent to 10 percent of the capital, with one free share for every 10 shares.

The results have demonstrated the ability of the holding company to maintain sustainable growth, enabling it to expand regionally and internationally, supported by the broad trust it has gained from its successful track record across all operational sectors locally.

In 2024, the company signed numerous agreements with sovereign wealth funds and regional government entities to transfer its expertise, particularly in healthcare, specialized contracting, services, and real estate development sectors.

The contracting cluster contributed 42 percent to the company’s revenues in 2024, driven by its notable activity both locally and regionally, especially in Saudi Arabia.

The cluster completed several agreements and contracts in 2024, with Elegancia Arabia, one of Estithmar Holding’s companies, participating in massive projects such as NEOM, the Red Sea Project, and AMALA, among others.

The services cluster contributed 35 percent to the company’s revenue.

This sector provides services such as facilities management, catering services and solutions, manpower and human resources, and event support, among others.

In 2024, the cluster expanded into Iraq, Libya, in addition to its operations in Saudi Arabia and Jordan.

The healthcare cluster continued to achieve sustainable growth, driven by the company’s expansion in applying the hospital management and operation model regionally, including in Iraq and Libya.

Hospitals within Qatar — The View Hospital and The Korean Medical Center — continued to gain trust by adhering to the highest international quality standards, hosting world-class medical professionals, and activating partnerships with leading international medical institutions such as Cedars-Sinai (US) and Asan Medical Center (South Korea), among others.

The ventures cluster performed steadily, attributed to the demand for the sector’s projects, including Al-Maha Island, which received over 4.7 million visitors in 2024.

The year also concluded a strong finish for the second season of Lusail Winter Wonderland and a successful launch of its third season, attracting thousands of Qatar residents and tourists.

Additionally, the sector’s hotel facilities, such as Katara Hills and Maysan Doha resorts, continued to lead the luxury hospitality sector in Qatar throughout the year.

Similarly, the cluster’s projects outside Qatar have progressed, The Rixos Baghdad project that features residential apartments, and a world-class hotel made significant progress in its construction phase, and The Rosewood Maldives Resort project is also advancing rapidly in terms of completion and is expected to become a prominent tourism destination in the Maldives and globally.


Saudi fintech barq secures multiple MoUs for future growth

Updated 15 February 2025
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Saudi fintech barq secures multiple MoUs for future growth

barq concluded its participation in LEAP 25, organized by the Saudi Ministry of Communications and Information Technology, the Saudi Federation for Cybersecurity, Programming, and Drones, and Tahaluf Company.

The Feb 9-12 event took place at the Riyadh Exhibition and Convention Center in Malham, north of Riyadh.

On the final day of the event, barq announced the signing of additional MOUs with leading entities and global and Saudi tech companies.

This initiative aims to enhance its ongoing development approach for services, improve customer experiences, and provide more innovative features and solutions that meet their aspirations and needs.

The MoUs were signed on behalf of barq by Walid Al-Hassoun, chief information officer; Muqrin Al-Shammari, corporate management director; Mishaal Al-Aboudi, loyalty and engagement development manager; and Abdulelah Al-khathlan, acquiring director.

The signing companies included Cosmo aimed at diversifying services and enhancing customer experience, represented by Rawad Rifai, co-founder and CEO.

Hyperpay aimed to improve the quality of services and offerings for customers, represented by Muhannad Ebwini, founder and CEO.

An MOU with groq was signed to support barq's service ecosystem with the latest tech solutions using artificial intelligence, represented by Fahad Al-Turaif, vice president and executive director for the Middle East and North Africa.

An MOU with Future Work was signed to enhance barq's customer experience and develop more innovative solutions, represented by Abdullah Al-Emran, executive director.

LEAP has been hosted by the Kingdom for the fourth time and witnessed the announcement of strategic agreements and major investment launches worth up to $15 billion.

Numerous MoUs were signed between participating companies and entities, attended by prominent sector leaders, major investors, and key innovators from around the globe.