Business & Money | Thursday 23 November, 2023 9:03 am

SRC completes SAR 3.5B sukuk issuance

Saudi Real Estate Refinance Co. (SRC), a wholly owned subsidiary of the Public Investment Fund (PIF), successfully completed a SAR 3.5 billion worth of sukuk issuance as part of its government-guaranteed its riyal-denominated sukuk program.   The offering forms the last two tranches...

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Business & Money | Thursday 23 November, 2023 8:57 am

Tadawul diversifies investment opportunities by rolling out single stock options

The Saudi Exchange (Tadawul) is gearing up for the rollout of its newest exchange-traded derivatives product — the single stock options (SSOs), which will be introduced to the Saudi capital market through the core assets of four listed companies in the first phase, starting Nov. 27, with an eye...

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Business & Money | Thursday 23 November, 2023 8:55 am

CMA seeks public input on regulating secondary offerings

The Capital Market Authority (CMA) invited public feedback on the draft regulatory framework to regulate secondary offerings for a period of 30 days ending on Dec. 21, 2023. The draft aims to regulate secondary offerings, which provide a new channel for offerings in the capital market by...

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Business & Money | Thursday 23 November, 2023 8:43 am

FIA TO STEER CHANGE AT COP28 WITH SMART DRIVING CHALLENGE

The Fédération Internationale de l’Automobile (FIA) is giving drivers around the world the chance to make their mark on COP28 through the Drive Change Today – FIA Smart Driving Challenge, developed in partnership with AI data analytics company Greater Than. From 22 November to 12...

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Business & Money | Wednesday 22 November, 2023 3:22 pm

EIF seeks public opinion on Investment Fund Law

The Events Investment Fund (EIF) is seeking public consultation on the proposed Investment Fund Law for events related to culture, entertainment, sports and tourism sectors through the Istitlaa platform until Dec. 20. The draft law aims to align...

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Business & Money | Wednesday 22 November, 2023 3:20 pm

UAE’s Comprehensive Economic Partnership Agreements to double non-oil foreign trade to AED4 trillion by 2031

The Ministry of Economy (MoE), in partnership with the Abu Dhabi Chamber of Commerce and Industry (ADCCI) and the Abu Dhabi Department of Economic Development (ADDED), has hosted a workshop to increase the Abu Dhabi business community’s awareness about importance of the Comprehensive...

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Business & Money | Wednesday 22 November, 2023 3:11 pm

Raha closes round of pre-Series A funding at USD 7 million, led by Soor Capital and eWTP Arabia Capital

Raha, Kuwait’s fast-growing logistics tech company, recently announced the successful completion of its pre-Series A funding round. Led by Soor Capital and PIF-backed Private Equity Fund, eWTP Arabia Capital, this latest investment brings up the total raised by the ambitious tech start-up to USD...

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Business & Money | Wednesday 22 November, 2023 3:09 pm

DAMAC Celebrates Successful Participation at WETEX 2023

The Water, Energy, Technology, and Environment Exhibition (WETEX) and Dubai Solar Show (DSS) wrapped up a successful 25th edition at Dubai World Trade Centre. Local and international specialists in energy, water, sustainability, green technologies, renewable and clean energy, green buildings,...

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Business & Money | Wednesday 22 November, 2023 3:07 pm

NEOM named as Principal Sponsor of the Red Sea International Film Festival and Red Sea Souk

The Red Sea Film Foundation today announced NEOM will be the Principal Sponsor of the Red Sea International Film Festival (RSIFF), ahead of the event’s third edition beginning on 30 November in Jeddah, Saudi Arabia. The partnership, which includes the powering of key components of the festival...

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Business & Money | Wednesday 22 November, 2023 9:33 am

EY hosts tax seminars to support businesses in Saudi Arabia to navigate evolving tax landscape

EY held its KSA Annual Tax and Zakat Seminar 2023 in Riyadh, Jeddah, and Al Khobar with the aim of guiding Saudi businesses as they navigate the Kingdom of Saudi Arabia’s evolving tax landscape. The latest edition of the event provided an overview of the major developments in the Saudi tax system ...

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