Business & Money | Wednesday 15 May, 2024 10:42 am

Fakeeh Care IPO 119x covered, final price set at SAR 57.50/share

HSBC Saudi Arabia, the sole financial advisor, joint bookrunner, underwriter, and lead manager on the potential IPO of Dr. Soliman Abdulkader Fakeeh Hospital Co. (Fakeeh Care Group), set the final offer price at SAR 57.50 per share. The IPO was 119x covered, with the final IPO price set at SAR ...

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Business & Money | Wednesday 15 May, 2024 10:29 am

Arabian Pipes, Saudi Aramco sign SAR 107M contract

Arabian Pipes Co. signed today, May 14, a SAR 107 million contract to supply pipes from its factories to Saudi Arabian Oil Co. (Saudi Aramco). The contract duration is 10 months, the company said in a statement to Tadawul, expecting the financial impact to appear during the first and ...

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Business & Money | Wednesday 15 May, 2024 9:32 am

Schneider Electric Appoints Yasser Ahmed as Gulf Vice President of Buildings

Schneider Electric, a global leader in energy management and automation, appoints Yasser Ahmed as the Vice President of Buildings for the Gulf Cluster.   With over fifteen years of experience in digitization, automation, and decarbonization, Ahmed brings a wealth of knowledge to his...

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Business & Money | Wednesday 15 May, 2024 9:24 am

TAQA Group Reports AED 2.1 billion Net Income for Q1 2024

 Abu Dhabi National Energy Company PJSC (TAQA or the Company), one of the largest listed integrated utilities in Europe, the Middle East and Africa, reported its earnings for the period ending 31 March 2024. TAQA delivered a robust financial performance, bolstered by the recognition of...

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Business & Money | Wednesday 15 May, 2024 8:57 am

Dubai's Off-Plan Investment: Top 5 Picks for Saudi Investors

Investors from across the globe are still drawn to Dubai's real estate sector. The city's burgeoning off-plan property industry accounts for a large percentage of this appeal. Developments that are still in the planning stages are referred to as off-plan homes because they provide investors the...

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Business & Money | Wednesday 15 May, 2024 8:48 am

The Luxe Developers launch the most expensive residences in Ras Al Khaimah valued at over AED180 million

The Luxe Developers, a UAE-based real estate development firm, has officially launched The Celeste and The Stellar, two ultra-luxury residences that form an integral part of the company’s Oceano development, located on Al Marjan Island. The properties, valued at over AED 90 million each, address...

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Business & Money | Wednesday 15 May, 2024 7:04 am

Sharjah Chamber concludes trade mission to India holding 365 bilateral business meetings

The Sharjah Chamber of Commerce and Industry (SCCI), represented by the Sharjah Exports Development Centre (SEDC), has successfully concluded its trade mission to India by arranging 365 bilateral business meetings.These meetings brought together representatives of companies participating in the...

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Business & Money | Tuesday 14 May, 2024 9:39 am

Alula FM becomes first radio station to be featured on Saudia’s inflight entertainment system.

The Royal Commission for AlUla (RCU) has implemented a partnership with Saudia, the national flag carrier of Saudi Arabia, to display digital content from AlUla FM as part of the airline’s inflight entertainment system, Beyond. Signed by Abdulrahman Altrairi, Chief Communications and PR...

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Business & Money | Tuesday 14 May, 2024 9:15 am

ADCB ranks first in banking, second across UAE's economic sectors

Abu Dhabi Commercial Bank (ADCB) ranked as the top financial institution for customer experience excellence and the second across all sectors in the latest annual survey conducted by KPMG Lower Gulf. According to the KPMG’s annual Customer Experience Excellence (CEE) report: ADCB's rise in...

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Business & Money | Tuesday 14 May, 2024 8:34 am

Alrajhi bank announces the success of the first sustainable AT1 capital sukuk issuance

Alrajhi bank succeeded in offering the first sustainable additional capital (AT1) sukuk denominated in US dollars, with a size of $1 billion and a profit rate of 6.375% annually. The sukuk are the first AT1 issuance from alrajhi bank in the global debt markets In US dollars (as part of an...

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