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ENVIRONMENT-
No more cigarette butts in the sand under your feet: Developer Red Sea Global has rolled out a fully-electric and remote-controlled robot to remove plastic waste and debris at its luxury tourist destination Red Sea project, the company said last week. The robot, which can detect items as small as 1 sqcm, has the capability to clean 3k sqm in one hour. Red Sea Global is a wholly owned unit of the Public Investment Fund.
TADAWUL-
Albilad Capital’s MSCI Saudi Growth ETF raised SAR 19 mn in an IPO last week, it said in a filing to Tadawul. The ETF is set to start operations this Wednesday, 31 January. No further information was provided.
TELECOM-
Solutions by stc signed a SAR 120 mn contract with parent company stc to renew the provision of short message service center (SMSC) services by the telecom operator to solutions’ customers, it said in a disclosure to Tadawul on Thursday. Stc owns 79% of solutions by stc.
CHARITY-
Awqaf, Othaim Charity set to launch mega endowments investment portfolio: The General Authority for Awqaf signed a MoU with Othaim Charity to launch an endowment investment portfolio worth SAR 1 bn, Awqaf said in a statement last week. Both parties will partner up to fund developmental and quality projects depending on the community’s needs and priorities, according to the statement. Information about the timeframe wasn’t disclosed.
