Business & Money | Monday 9 December, 2024 10:58 am

Savola plans SAR 859M Sukuk buyback

Savola Group announced its intention to buy back SAR 859 million worth of Sukuk from its SAR 1 billion issuance in 2019 and maturing in 2026, with a redemption ratio of 85.9% and a total of 859 Sukuk. In a statement to Tadawul, the company said once the buyback is completed, the group plans to ...

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Business & Money | Monday 9 December, 2024 10:46 am

Derayah Financial and Alpaca Join Forces to Expand Foreign Investor Access to Saudi Arabia’s Market

Derayah Financial has announced a strategic partnership and investment agreement with Alpaca, a global leader in financial brokerage infrastructure technology. This collaboration aims to deliver digital-driven trading solutions that empower investors in both local and international markets, while...

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Business & Money | Monday 9 December, 2024 10:42 am

Aramco-backed Fintech Stake officially launches in Saudi Arabia with first deal in partnership with AlRajhi Seventh

Stake, the leading global digital real estate investment platform in the Middle East and North Africa (MENA) region, today announced their official launch in the Kingdom of Saudi Arabia. As the first platform regulated by the Capital Market Authority (CMA) to afford individuals outside of the...

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Business & Money | Sunday 8 December, 2024 8:59 am

New Livery Supporting ‘Saudi Welcome To Arabia Campaign’ Adorns Aircraft Promoting Domestic Tourism And International Arrivals

flyadeal, the Middle East’s fastest growing low-cost airline, has taken its partnership with Saudi Tourism Authority (STA) to new heights with a special aircraft livery supporting the national drive to promote domestic tourism and stimulate visitor numbers to the Kingdom.  With 13...

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Business & Money | Friday 6 December, 2024 4:37 pm

WAJA renews SAR 20M bank facilities with BSF

WAJA Co. signed an agreement to renew Shariah-compliant credit facilities worth SAR 20 million with Banque Saudi Fransi (BSF). In a statement to Tadawul, the company said it will finance Islamic letters of credit, various Shariah-compliant bank guarantees, and Tawarruq. The facilities...

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Business & Money | Friday 6 December, 2024 4:13 pm

Saudi Arabia aims to become global mineral production hub: Almudaifer

Khalid Almudaifer, Vice Minister for Mining Affairs, said local demand for minerals in Saudi Arabia is witnessing a significant increase due to various factors, including mega-projects under Vision 2030. This is in addition to the initiatives outlined in the National Industrial Strategy, which ...

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Business & Money | Thursday 5 December, 2024 9:00 am

Hilton Signs Agreement with Knowledge Economic City to Open Three Hotels in Madinah

Hilton (NYSE: HLT) today announced the signing of an agreement with Al-Gharaa International for Real Estate Development to open three hotels in the Islamic World District of Knowledge Economic City (KEC) in Madinah. The agreement was signed in the presence of His Royal Highness Prince Salman Bin...

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Business & Money | Thursday 5 December, 2024 8:00 am

Saudia Signs Strategic MOU with Air France-KLM

Saudia, the national flag carrier of Saudi Arabia, has signed a Memorandum of Understanding (MOU) with Air France-KLM aimed at significantly expanding and localizing its Maintenance, Repair, and Overhaul (MRO) capabilities. The signing ceremony was attended by President Emmanuel Macron of the...

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Business & Money | Wednesday 4 December, 2024 8:24 am

Saudi Water Partnership Company Forum and Awards Ceremony Celebrates Achievements and Strengthens Collaboration in the Water Sector

The Saudi Water Partnership Company (SWPC) hosted its exclusive Forum and Award Ceremony at the prestigious Fairmont Hotel Riyadh, bringing together key stakeholders, government officials, and industry leaders for a day of dynamic dialogue, innovative workshops, and strategic networking...

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Business & Money | Tuesday 3 December, 2024 12:10 pm

Matarat Holding, NCP call for EOI for New Taif International Airport

Matarat Holding Co. and the National Center for Privatization (NCP) launched an expression of interest (EOI) phase for the New Taif International Airport project, inviting private sector parties to participate under a public-private partnership model (build, transfer, operate). The contract...

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