California: Alphabet Inc’s Google said on Wednesday it plans to invest about $9.5 billion across its US offices and data centers this year, up from $7 billion last year.
Google said the investment will create at least 12,000 full-time jobs in 2022 and focus on data centers in several states including Nevada, Nebraska and Virginia.
The company will open a new office in Atlanta this year, and expand its data center in Storey County, Nevada, it added.
“It might seem counterintuitive to step up our investment in physical offices even as we embrace more flexibility in how we work. Yet we believe it’s more important than ever to invest in our campuses…,” Google said in a statement.
Google has been trying to bring back its employees to some of its offices in the United States, the UK and Asia Pacific by mandating working from office for about three days a week, a step to end policies that let employees work remotely because of COVID-19 concerns.
Google will continue to invest in offices in its home state of California and support affordable housing initiatives in the Bay Area as part of its $1 billion housing commitment.
Last year, Google helped provide $617 billion in economic activity for US businesses, creators and developers, according to its 2021 economic impact report.
Google to invest $9.5bln in US offices, data centers this year
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Google to invest $9.5bln in US offices, data centers this year
Closing Bell: Saudi main index closes in red at 10,414
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower on Wednesday, shedding 38.85 points, or 0.37 percent, to finish at 10,414.06.
Total trading turnover on the benchmark index reached SR3.46 billion ($920 million), with 123 stocks advancing and 134 declining.
The Kingdom’s parallel market Nomu also shed 41.61 points, or 0.18 percent, to close at 23,428.67.
The MSCI Tadawul Index edged down 0.45 percent to 1,368.36.
Arabian Drilling Co. was the best-performing stock on the main market, with its share price rising 6.8 percent to SR102.90.
Naqi Water Co. gained 4.30 percent to SR58.25, while Saudi Ground Services Co. advanced 3.78 percent to SR38.42.
Tihama Advertising, Public Relations and Marketing Co. saw its share price fall 4.95 percent to SR16.31.
AlAhli REIT Fund 1 also declined 3.53 percent to SR6.29.
On the announcements front, United Mining Industries Co., listed on the parallel market, said it has begun commercial production of gypsum board at its plant in Yanbu.
In a Tadawul statement, the company said the financial impact of the project’s commercial production will be reflected in the first quarter of 2026.
United Mining Industries Co.’s share price was unchanged, closing at SR42.54.
Dkhoun National Trading Co. said its shareholders approved the board’s recommendation to distribute interim dividends on a semi-annual or quarterly basis for 2025.
According to a Tadawul statement, shareholders also approved transferring the balance of the company’s statutory reserve, valued at SR2.43 million, to retained earnings.
Dkhoun National Trading Co.’s shares saw no trades and closed at SR65.
