Business & Money | Tuesday 28 May, 2024 9:47 am

SRC Extends its Refinancing Agreement with arab national bank (anb) with an Additional SAR 500 million

The Saudi Real Estate Refinance Company (SRC), a Public Investment Fund (PIF) company, has extended its refinancing agreement with arab national bank (anb) with an additional SAR 500 million. This is the second refinancing agreement between both entities.  The agreement was signed by...

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Business & Money | Tuesday 28 May, 2024 8:28 am

Saudi Arabia starts sale of 3-tranche sukuk: Report

Saudi Arabia started selling Shariah-compliant sukuks, divided into three tranches with tenors of three years, six years, and 10 years, Reuters reported citing IFR news service.   Initial guidance was placed around 85 basis points (bps) over US Treasuries (UST) for the three-year...

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Business & Money | Tuesday 28 May, 2024 7:26 am

ADNOC boosts local manufacturing target to AED90 billion by 2030

ADNOC announced today at the “Make it in the Emirates” forum an increase in its local manufacturing target for critical industrial products in its procurement pipeline to AED90 billion (US$24.5 billion) by 2030 to propel UAE’s economic diversification, strengthen the industrial sector and...

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Business & Money | Tuesday 28 May, 2024 6:02 am

Aramco interested in buying minority stake in Repsol's renewable unit: Report

Saudi Aramco showed interest in acquiring a minority stake in the renewable unit of Spanish oil company Repsol, Reuters reported, citing two people familiar with the matter. Repsol has opened its renewable projects to investors willing to take minority stakes in portfolios of wind farms and...

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Business & Money | Monday 27 May, 2024 2:08 am

Top 17 companies in Investment Readiness Acceleration Programme for Women Entrepreneurs announced

The Ministry of Economy and the European Women's Association (EWA) today announced the names of the top 17 companies in the Investment Readiness Acceleration Programme, launched in March 2024. The "Investment Readiness Acceleration Programme for Women Entrepreneurs" aims to support the growth...

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Business & Money | Monday 27 May, 2024 1:51 am

NEW MURABBA'S ICONIC MUKAAB OPENS PARTNERSHIP DOORS TO WORLD-CLASS CONTRACTORS

The New Murabba Development Company – Owned by Public Investment Funds, is inviting the world’s leading contractors to take part in bringing its groundbreaking Mukaab to reality. An icon and cornerstone of Riyadh's New Murabba mixed-use development, the Mukaab will feature the latest immersive...

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Business & Money | Monday 27 May, 2024 1:44 am

Aramco plans sale of nearly $10B shares: Report

Saudi Arabia is planning a $10 billion share sale in Aramco, Reuters reported.The share sale is expected to take place as soon as June in what would be one of the region's biggest stock deals.The preparations are ongoing and the details could still change, two sources said. ...

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Business & Money | Monday 27 May, 2024 1:36 am

MAWANI, DP World break ground on SAR 900M logistics park at Jeddah Islamic Port

The Saudi Ports Authority (MAWANI) and Dubai’s DP World broke ground today, May 26, on a logistics park project at Jeddah Islamic Port, with investments totaling SAR 900 million ($250 million). According to the Emirates News Agency (WAM), the 415,000-square-meter (sqm) greenfield facility...

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Business & Money | Monday 27 May, 2024 1:32 am

ADES wins 6 onshore contracts worth SAR 2.4B in Kuwait

ADES Holding Co. said that its subsidiary received a SAR 2.4 billion award for six onshore contracts with Kuwait Oil Co. (KOC). The award includes new contracts for four of the company’s current operating rigs in Kuwait and two newbuild units, ADES added in a statement to Tadawul. All...

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Business & Money | Sunday 26 May, 2024 11:53 am

Sipchem resumes ops at 3 plants after maintenance

Sahara International Petrochemical Co. (Sipchem) resumed operations, on May 25, at three plants affiliated with its subsidiaries, International Vinyl Acetate Co. (IVC), International Acetyl Co. (IAC) and International Gases Co. (IGC) after scheduled maintenance. During the scheduled...

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