Nasdaq Dubai has welcomed the listing of a US$500 million Sukuk by Sharjah Islamic Bank (SIB), issued under its US$3 billion Trust Certificate Issuance Programme. The five-year Sukuk, maturing in November 2030, carries a profit rate of 4.6 percent. The issuance attracted strong demand from...
National Building and Marketing Co.’s (NBM) subsidiary, Ajeej Steel Manufacturing Co., renewed today, Nov. 27, a Shariah-compliant banking facilities agreement worth SAR 127 million with Al Rajhi Bank, according to a statement on Tadawul. The financing is secured by guarantees of debt...
Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA), said that the regulator’s decision to allow new categories of qualified investors to enter the Nomu-Parallel Market is expected to provide more resilience in the market without compromising the integrity of trading...
ACWA Power Co. announced the financial close of two major wind power projects, Starah and Shaqra, located in the central region of Saudi Arabia, with production capacities of 2,000 MW and 1,000 MW, respectively, according to a Tadawul statement today. The financing amounts to SAR 5.44 billion...
Saudi Electricity Regulatory Authority (SERA) launched today, Nov. 27, its new consumer protection framework, in an event attended by Minister of Energy Prince Abdulaziz bin Salman. According to a statement published on the authority’s X account, SERA Governor Abdullah Al Bishi said the...
Boston Consulting Group (BCG) today announced the launch of its new report, “AI Data Centers: An Opportunity in the Middle East”, during the sidelines of MWC Doha 2025, revealing that the Middle East is rapidly positioning the region as a rising global nexus for AI data center investment and...
The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), and the Hong Kong Monetary Authority (HKMA) today hosted the second edition of the DFSA–HKMA Joint Climate Finance Conference. The hybrid conference, which took place...
AD Ports Group today announced the sale of its 9.77 percent stake in NMDC Group PJSC to Alpha Dhabi Holding PJSC for AED1.6 billion (US$436 million). AD Ports Group received its stake in NMDC from Abu Dhabi Developmental Holding Company – ADQ ahead of its listing in February 2022. In...
Abu Dhabi Customs and India’s Central Board of Indirect Taxes and Customs have signed a statement to foster innovation in facilitating bilateral trade through digital transformation and data exchange. The agreement also launches a pilot project for a Trusted Digital Trade Corridor under the...
Almoosa Health Co. signed on Nov. 26 a contract with BEC Arabia to execute the preliminary foundational and structural works for the Almoosa Specialist Hospital project in Al-Khobar, for SAR 657.5 million (excluding VAT). In a statement to Tadawul, the company said the scope of...
