Business & Money | Monday 25 December, 2023 10:17 am

Global outstanding sukuk market surged to $823 billion by Q3-23: Fitch’s Global Head of Islamic Finance

Bashar Al-Natoor, the Global Head of Islamic Finance - Managing Director, Fitch Ratings, has projected a sustained uptrend in global sukuk issuance, with the market soaring to US$823.4 billion at the end of Q3-23, reflecting a robust 9.8% annual growth. Speaking to the Emirates News Agency...

More Details

Business & Money | Monday 25 December, 2023 10:09 am

SADAFCO launches new warehouse in Makkah

Saudia Dairy and Foodstuff Co. (SADAFCO) finished the construction of a new warehouse in the industrial city of Makkah and commenced actual operations. The buildings and cold stores are completely ready, the safety, protection, and environmental systems have been installed...

More Details

Business & Money | Monday 25 December, 2023 1:12 am

Social Development Bank grants SAR 11B financing by end of 2023

The Social Development Bank (SDB) provided SAR 11 billion in financing by the end of 2023, meeting its economic and social financing goals for the year while expanding its non-financial services, the Saudi Press Agency (SPA) reported.   The bank stated that more than 8,600 small...

More Details

Business & Money | Monday 25 December, 2023 1:11 am

MIS inks SAR 24.9M project contract with NCGR

Al Moammar Information Systems (MIS) signed a data backup and storage contract with the National Center of Government Resources (NCGR) worth SAR 24.87 million (VAT inclusive), according to a statement by the company to Tadawul today, Dec. 24.  The one-year...

More Details

Business & Money | Monday 25 December, 2023 1:08 am

MAWANI signs 4 maritime services deals worth over SAR 1B for 8 ports

Saudi Ports Authority signed today, Dec. 24 four deals maritime service contracts, exceeding SAR one billion in private sector investments.   The Authority announced these contracts were signed with Zamil Offshore Services Co. and Naghi Marine Co. for eight ports, in collaboration...

More Details

Business & Money | Monday 25 December, 2023 1:07 am

SAL pens deal with Dammam Airports to lease, renovate KFIA’s cargo terminal

SAL Saudi Logistics Co. signed a 20-year lease agreement with Dammam Airports Co. (DACO) to renovate, operate, and maintain the cargo terminal at King Fahad International Airport (KFIA) in Dammam In a statement to Tadawul, the company said that the transaction is valued at SAR 16.5 million annually ...

More Details

Business & Money | Sunday 24 December, 2023 1:51 pm

Hamriyah and Deira ports record AED 12.133b in customs declaration value for first nine months of 2023

Dubai Customs plays a crucial role as the frontline defense for community security, consistently advancing its customs centers to safeguard and facilitate maritime trade. H.E. Ahmed Mahboob Musabih, Director General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation, recently visited ...

More Details

Business & Money | Sunday 24 December, 2023 9:48 am

AMAK starts tests at new processing plant, expects to continue in Q1 2024

Almasane Alkobra Mining Co. (AMAK) commenced the operational readiness tests for the new processing plant in December 2023, but does not expect to complete the tests by the end of 2023 as announced earlier. The company said the tests are likely to continue during Q1 2024.   The delay ...

More Details

Business & Money | Sunday 24 December, 2023 9:25 am

Kingdom Holding sets up JV to develop tourist resort

Kingdom Holding Co. (KHC) incorporated a joint venture (JV), named East Shura III Real Estate Co., the company said in a filing to Tadawul.   The JV will develop a tourist resort, to be operated by Four Seasons hotels and resorts group on the Shura Island, Saudi Arabia's west...

More Details

Business & Money | Sunday 24 December, 2023 8:46 am

Global outstanding sukuk market hits $823.4B at Q3 2023-end: Fitch

Bashar Al-Natoor, Global Head of Islamic Finance - Managing Director, Fitch Ratings, said that the value of global outstanding sukuk market rose by 9.8% year-on-year (YoY) to $823.4 billion at the end of Q3 2023, the UAE-based Emirates News Agency (WAM) reported.  At the end of...

More Details