BUSINESS | Saudi Information Security Firm Elm To Aquire Tabadul

Saudi information security company Elm is to acquire digital services company Tabadul from Saudi Arabia’s sovereign wealth fund, Elm said in a statement on Sunday.

The Public Investment Fund (PIF) also owns Elm and was considering an initial public offering of the information security company, sources told Reuters in May.

The value of the deal, under which Elm will acquire 100% of Tabadul’s shares, was not disclosed. The transaction is subject to securing regulatory approvals.

Tabadul’s executive management will continue to lead it, the statement said, and its board will remain in place until the acquisition is finalized.

Tabadul, asl known as Saudi Company for Exchanging Digital Information, provides digital solutions for the logistics sector.

‘The combination of Elm and Tabadul will create a one-stop-shop that will cater to the entire logistics value chain’, the statement cited Elm CEO Abdulrahman Ajadhai as saying.

PIF said the deal would contribute to Saudi Arabia’s Vision 2030, which seeks to diversify the economy of the world’s biggest oil producers away from hydrocarbons.

‘As an active investor, PIF is committed towards the growth of its portfolio companies throughout their business lifecycle while seeking opportunities for synergies and collaboration between them’, PIS said.

Tabadul CEO Abdualaziz Alshamsi said in the statement that the deal would enable Tabadul to expedite its new service offerings and that it will serve the customs, ports, and aviation sectors.

NEWS ALERT | Saudi Arabia Says Resolution Of Gulf Dispute Seems Within Reach

Saudi Arabia’s foreign minister said on Friday a resolution to a bitter dispute with Qatar seemed ‘within reach’ after Kuwait announced progress towards ending a row that Washington says hampers united Gulf front against Iran. The United States and Kuwait have worked to end the dispute, during which Saudi Arabia, the United Arab Emirates and … Continue reading NEWS ALERT | Saudi Arabia Says Resolution Of Gulf Dispute Seems Within Reach

NEWS ALERT | Saudi Crown Prince Condoles President Of France On Death Of Former President

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense, has sent a cable of condolence to President Emmanuel Macron of the Republic of France on the death of former President Valery Giscard d’Estaing of France. In his cable, HRH Crown Prince Mohammed bin Salman expressed profound sorrow  … Continue reading NEWS ALERT | Saudi Crown Prince Condoles President Of France On Death Of Former President

CORONAVIRUS | Ex-President Would Get Vaccine Publicly To Boost Confidence

NEW YORK – – Three former presidents say they’d be willing to take a coronavirus vaccine publicly, once one becomes available, to encourage all Americans to got inoculated against a disease that has already killed more than 275,000 people nationwide. Former President Barack Obama said during an episode of Sirius XM’s ‘The Joe Madison Show’, … Continue reading CORONAVIRUS | Ex-President Would Get Vaccine Publicly To Boost Confidence

TRAVEL | Austria To Allow Christmas Skiing But Many Restrictions Stay

MILAN – – Austria will allow skiing to start on Dec.24, but will limit the capacity of ski lifts and keep restaurants, bars and hotels largely closed until early January, officials said Wednesday. It also will require many people entering the country over the Christmas period to go into quarantine. Though lockdown measures took effect … Continue reading TRAVEL | Austria To Allow Christmas Skiing But Many Restrictions Stay

BUSINESS | Nestle To Invest 3.2 Billion Sfr To Cut Carbon Emissions

Zurich – – Nestle said on Thursday it plans to invest 3.2 billion Swiss francs ($3.58 billion) over the next five years to reduce its climate impact and help it get to net zero emissions by 2050. The world’s biggest food company said it would work with farmers and suppliers to promote regenerative agriculture, plant … Continue reading BUSINESS | Nestle To Invest 3.2 Billion Sfr To Cut Carbon Emissions

NEWS ALERT | Iran Ready To Show Goodwill If U.S., Europe Abide By Nuclear Deal: Zarif

MILAN – – Iran will fully comply with a 2015 deal aimed at preventing it from developing nuclear weapons if both the United States and Europe honour their original commitments, Iranian Foreign Minister Mohammad Javad Zarif said on Thursday. U.S. President Donald Trump quit the pact in 2018, saying it did not do enough to … Continue reading NEWS ALERT | Iran Ready To Show Goodwill If U.S., Europe Abide By Nuclear Deal: Zarif

BREAKING NEWS | Multiple Casualties At English Warehouse Blast, Fire Brigade Says

LONDON – – A large blast in a warehouse near Bristol in England has caused multiple casualties, a spokeswoman for the fire brigade said on Thursday. The fire service had previously said on Twitter that it was responding to an incident after being called to a large explosion in Avonmouth, south west England. It said … Continue reading BREAKING NEWS | Multiple Casualties At English Warehouse Blast, Fire Brigade Says

BREAKING NEWS | WHO Looks at possible ‘E-Vaccination certificates’ for travel

GENEVA – – The World Health Organization does not recommend countries issuing ‘immunity passports’ for those who have recovered from COVID-19, but is investigating the prospects of using e-vaccination certificates, a WHO medical expert said on Thursday. ‘We are looking very closely into the use of technology in this COVID-19 response, one of them how … Continue reading BREAKING NEWS | WHO Looks at possible ‘E-Vaccination certificates’ for travel

ECONOMY | Saudi Arabia To Issue Executive Regulations On Labor Reform Initiative Soon: Ministry Official

The Minister of Human Resources and Social Development will issue soon the executive regulations of the Labor Reform Initiative (LRI), Sattam Alharbi, Deputy Minister for Inspection and development of work environment, was cited by Saudi Press Agency as saying. The initiative, which falls under the Kingdom’s National Transformation Program, was launched by the ministry last … Continue reading ECONOMY | Saudi Arabia To Issue Executive Regulations On Labor Reform Initiative Soon: Ministry Official

Loading…

Something went wrong. Please refresh the page and/or try again.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s