‎Saudi cement demand poised for 8% growth by 2025: Riyadh Cement CEO
08 Nov
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‎Saudi cement demand poised for 8% growth by 2025: Riyadh Cement CEO

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Top Stories Tamfitronics Shoeil Al-Ayed, CEO of Riyadh Cement Co.Demand for cement in Saudi Arabia is expected to grow between 4% and 8% by 2025, Shoeil Al-Ayed, CEO of Riyadh Cement Co., told Asharq News.He explained that this projected increase is driven by major projects undertaken by the Kingdom, particularly in Riyadh.Demand in Q3 2024 saw a slight rise compared to the previous two quarters, all of it was locally driven, Al-Ayed said. He explained that the company is fortunate to operate in Riyadh, where most strategic projects are concentrated. In addition, the firm supplies its output to the majority of large-scale projects in the city.Riyadh Cement's current market share is 6.5%, which is likely to grow as demand increases.Saudi Arabia is exporting black cement to the GCC...
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Logisticsand healthcare startups to get boost from Saudi government,assistant deputy minister says
07 Nov
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Logisticsand healthcare startups to get boost from Saudi government,assistant deputy minister says

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Top Stories Tamfitronics Top Stories Tamfitronics Sustainable bond issuance surges 9%, market set to hit $950bn by year-end: Moody’s RIYADH: Global issuance of sustainable bonds in the third quarter of 2024 reached $216 billion, marking a 9 percent annual increase, according to Moody’s.The year-on-year increase in green, social, sustainability, and sustainability-linked bonds came despite a quarter-on-quarter drop, with the volume issued down 14 percent in the three months to the end of...
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Former Intelsat executive joins Lynk Global as CEO
07 Nov
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Former Intelsat executive joins Lynk Global as CEO

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Top Stories Tamfitronics Lynk Global envisages a total constellation of 5,000 satellites built in-house. Credit: Lynk GlobalTAMPA, Fla. Ramu Potarazu, a former executive at geostationary operator Intelsat, has taken the helm of Lynk Global in the direct-to-smartphone satellite ventures latest leadership shake-up as it seeks funds to grow its constellation.Lynk said Nov. 7 that Dan Dooley will resume his role as chief commercial officer after taking over as CEO two months ago from Charles Miller, the companys co-founder who became chairman of its board of directors.Potarazu held various positions at Intelsat between 1991-2006, including president and chief operating officer, and was most recently CEO of media management software company EditShare.Falls Church, Virginia-based Lynk also announced the appointment of Steven Fay as chief financial officer (CFO) to help prepare for its stock market debut by...
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Virgin Galactic seeks to raise money to accelerate growth of spaceplane fleet
07 Nov
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Virgin Galactic seeks to raise money to accelerate growth of spaceplane fleet

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Top Stories Tamfitronics VMS Eve, Virgin Galactic's mothership aircraft used by its suborbital spaceplanes. The company is looking to raise $300 million that will mostly be used to develop a second mothership plane. Credit: Virgin GalacticWASHINGTON — Virgin Galactic is proposing to raise $300 million in additional capital to accelerate production of suborbital spaceplanes and a mothership aircraft the company says can fuel its long-term growth.In a Nov. 6 earnings call to discuss the suborbital spaceflight company’s third quarter financial results, Virgin Galactic executives said that while work on the first two Delta-class spaceplanes remains on budget and schedule, they see an opportunity to raise money to add vehicles to the fleet sooner that previously planned.“We have an exciting opportunity to captures economies of scale from our existing investments,” Michael Colglazier, chief executive of Virgin...
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