In a landmark achievement for Saudi Arabia’s renewable energy sector, ACWA Power has reached financial close on three major solar projects with a combined capacity...
Rekaz to Subscribe to Medcap Securities’ Capital Increase
Rekaz Holding for Financial Investments has announced its decision to subscribe to Medcap Securities’ capital increase. This move will see Rekaz increase its stake in...
Oil Prices Drop as Saudi Arabia Prepares to Abandon $100 Crude Target
Oil prices have taken a significant hit as reports emerge that Saudi Arabia is preparing to abandon its $100 per barrel crude oil price target....
GISBH’s Worldwide Aspiration: A RM325 Million Empire Spanning the Globe
Global Ikhwan Services and Business Holdings (GISBH) is making headlines with its ambitious worldwide expansion. Operating 415 business outlets across 20 countries, GISBH has built...
Pakistan Secures Additional Financing Assurances from China, UAE, and Saudi Arabia
Pakistan has received significant financing assurances from China, the United Arab Emirates (UAE), and Saudi Arabia, linked to a new International Monetary Fund (IMF) program....
Central Bank of Egypt Unveils $1.02 Billion T-Bills
The Central Bank of Egypt (CBE) has announced the issuance of treasury bills (T-bills) worth $1.02 billion, aimed at bolstering the country’s financial stability and...
Ferrum Egypt in Talks with 4 Banks for Silos Project
Ferrum Egypt, a leading player in the construction and manufacturing sector, is currently in negotiations with four major banks to secure financing for a significant...
Ebdaa’s Intention for Saudi Expansion Reflects Microfinance Synergy Between the Two Kingdoms
Ebdaa Microfinance Company, a prominent financial institution based in Bahrain, has announced its plans to expand into Saudi Arabia. This strategic move aims to leverage...
Saudi Aramco to Open Petrol Station in Pakistan
Saudi Aramco, the state-controlled oil giant, is set to launch its first branded petrol station in Pakistan by the end of this year. This move...
Brokers Push for Tightening of Middle East Escalation Clause Wordings
Reinsurance brokers are advocating for more precise language in the Middle East escalation clauses included in specialty treaties. These clauses, introduced by reinsurers such as...
Sutherland Solutions to Drive Riyadh Air’s Financial Operations
Riyadh Air has partnered with Sutherland to enhance its financial operations through advanced digital solutions. This collaboration aims to streamline the airline’s financial processes, ensuring...
e-finance Announces Cash Dividends for H1-24 to Boost Investor Confidence
In a move aimed at enhancing investor confidence and rewarding shareholders, e-finance for Digital and Financial Investments has announced a cash dividend distribution for the...
Saudi Stock Market Index Declines for Fourth Consecutive Session
The Saudi Stock Exchange’s main index, the Tadawul All Share Index (TASI), has declined for the fourth consecutive session, closing at 11,962.90 points. This recent...
Saudi Market Regulator Approves IPO of Jadwa Saudi Equity Fund II
In a significant move for the Saudi financial market, the Capital Market Authority (CMA) has approved the initial public offering (IPO) of Jadwa Saudi Equity...
Saudi Arabia Invests Billions of Dollars in Africa to Boost Development and Cooperation
Saudi Arabia has committed billions of dollars to various development projects across Africa, aiming to enhance infrastructure, healthcare, education, and economic growth. This significant investment...
Investcorp Associate Plans to Sell Stake in Saudi-Listed BinDawood Holding
Commercial Growth Development Co., an associate of Bahrain-based Investcorp, has announced plans to sell its stake in Saudi-listed BinDawood Holding. The sale involves 64 million...