Business & Money | Tuesday 26 December, 2023 8:44 am

GIB launches inaugural SAR 1.5B Tier 2 sukuk issuance

Gulf International Bank (GIB) - Saudi Arabia successfully issued its first Tier 2 sukuk, raising SAR 1.5 billion. This is part of a SAR 3 billion issuance program with a 10-year maturity and a five-year redemption period.   The bank's sukuk program supports its...

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Business & Money | Tuesday 26 December, 2023 8:42 am

Alkhorayef Water secures SAR 450M credit facilities from Riyad Bank

Alkhorayef Water and Power Technologies Co. (AWPT) signed a Shariah-compliant credit facility agreement worth SAR 450 million with Riyad Bank.   The loan was secured today, Dec. 25, the company said in a Tadawul statement, adding that the agreement is valid until Dec....

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Government | Tuesday 26 December, 2023 8:40 am

Saudi Arabia, Japan sign 13 deals

Saudi Arabia and Japan signed 13 agreements and memoranda of understanding within the framework of the Saudi-Japan Investment Forum with Japanese entities and companies.    As reported by the Saudi News Agency,  the signed deals  covered many sectors, most notably...

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Business & Money | Tuesday 26 December, 2023 8:39 am

Al-Falih expects investments of up to $600B in petchem sector by 2030

Saudi Arabia's Minister of Investment, Khalid Al-Falih, expected that investments in the petrochemical sector would total $600 billion by 2030.   In his speech at the Saudi-Japan Investment Forum, Al-Falih stated that the strategic partnership between Saudi Arabia and...

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Business & Money | Tuesday 26 December, 2023 8:38 am

NIDLP accomplishes 120 initiatives 2 years ahead of schedule: CEO

More than 120 of the National Industrial Development and Logistics Program’s (NIDLP) initiatives were completed two years before the scheduled deadline, CEO Suliman Almazroua stated at the NIDLP’s annual ceremony.   He said that this progress confirms the maturity of the...

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Business & Money | Tuesday 26 December, 2023 8:18 am

HRSD Ministry launches insurance service for domestic workers

The Ministry of Human Resources and Social Development (HRSD) launched an insurance service on its Musaned platform for contracts of new domestic workers.    As of Feb. 1, 2024, the insurance service will cover the first two years of the contract, then it will be...

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Environment & Energy | Monday 25 December, 2023 1:53 pm

NIDLP contributes 35% to non-oil GDP: Industry Minister

Bandar Alkhorayef, Minister of Industry and Mineral Resources, said that the National Industrial Development and Logistics Program (NIDLP) contributes about 35% to the non-oil GDP and 90% to non-oil exports.   At the NIDLP's annual ceremony, Alkhorayef noted that the program accounts ...

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Culture & Education | Monday 25 December, 2023 1:52 pm

The Department of Community Development stresses the importance of non-governmental organisations being licenced

 The Department of Community Development - Abu Dhabi, the regulatory body for the social sector in the emirate, has emphasised its eagerness to provide licensing services to non-governmental organisations in the emirate, and to announce the licensing of Public Interest Associations, all with...

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Business & Money | Monday 25 December, 2023 1:38 pm

Realty Force Real Estate awarded Top Performing Agency 2023 by Expo City Dubai

Realty Force Real Estate, a boutique agency specializing in high-end luxury properties, has been awarded the Top-performing Agency 2023 in recognition of its deep understanding of Expo City’s sales landscape and its vision for innovative, sustainable, and human-centric urban development. Realty...

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Business & Money | Monday 25 December, 2023 12:22 pm

RAKEZ partners with CBI to enhance business banking processes for RAKEZ clients

Ras Al Khaimah Economic Zone (RAKEZ) has recently tied up with Commercial Bank International (CBI), to enhance the business banking experience for RAKEZ clients. This collaboration is designed to foster financial inclusion by streamlining access to a comprehensive range of financial services,...

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