Riyadh – Mubasher: The technology startups sponsored by Saudi Badir Programme for Technology Incubators (Badir) have obtained SAR 8.8 million ($2.35 million) in financing during the first quarter of 2018. Over the course of the first three months …
Riyadh – Mubasher: The National Commercial Bank (NCB) on Sunday announced the appointment of a new chairman and vice chairman, as well as the formation of the board’s subcommittees. The Saudi bank named Saeed Mohammed Al Ghamdi as board chairman …
Riyadh – Mubasher: S&P Dow Jones Indices (S&P DJI) is currently considering changing Saudi Arabia’s classification to mirror the progress and reforms executed by the Gulf country, which include foreign accessibility and alignment with global …
Riyadh – Mubasher: Zahret Al Waha for Trading Company on Wednesday unveiled that the company renewed a SAR 144.13 million sharia-compliant credit facility with Arab National Bank (ANB). The agreement extends from Wednesday 16 May 2018 until 28 …
Riyadh – Mubasher: The Egyptian government has submitted a request to the Saudi Arabian Monetary Authority (SAMA) to issue banking licences to open branches for the biggest state-run banks, namely the National Bank of Egypt (NBE) and Banque Misr …
Mubasher: Jordan signed a Memorandum of Understanding (MoU) with the European Bank for Reconstruction and Development (EBRD) for an infrastructure investment programme of more than EUR 2.8 billion ($3.34 billion). The target is to support economic …
Riyadh – Mubasher: Bank AlJazira on Wednesday reported positive results for the first quarter of 2018 on the back of higher operating income. The bank logged SAR 245.3 million ($65.40 million) in profits for the first three months of the year, a …
Riyadh – Mubasher: Saudi Arabia-based Jadwa Investment said that Jadwa REIT Al Haramain Fund has obtained a SAR 200 million loan from Riyad Bank. The Shariah-compliant facility will mature after three years, according to a statement to the Saudi …
Riyadh - Mubasher: Filing and Packing Materials Manufacturing Company (FIPCO) announced that it has renewed a sharia-compliant banking facilitation agreement with Riyad Bank. The agreement has modified credit limits to SAR 72 million, consisting …
Dubai – Mubasher: SHUAA Capital on Tuesday announced signing a memorandum of understanding (MoU) with Saudi-based Jabal Omar Development Company through which the two companies aim to launch and manage real estate investment vehicles in Saudi …
Riyadh – Mubasher: The Saudi British Bank (SABB) on Monday reported near-stable profits for the first quarter of 2018 from a year ago. SABB logged SAR 1.039 billion ($ million) in profits between January and March, up 0.29% from SAR 1.036 billion …
Riyadh – Mubasher: Abdullah A. M. Al-Khodari Sons Company on Monday announced renewing an Islamic loan with Al Bilad Bank worth SAR 75.908 million. The facility will expire on 30 December 2022, the Saudi firm said. “The purpose of these facilities …
Riyadh – Mubasher: The Saudi Investment Bank (SAIB) on Sunday posted a year-on-year increase in net profits for the first three months of 2018, citing higher operating income and net special commission income. Profits grew 4.73% to SAR 361.2 …
Riyadh – Mubasher: HSBC said it currently has over 20 investment banking deals and opportunities in its pipeline in Saudi Arabia. The fiscal year 2018/2019 will be a year of delivering and executing deals, Reuters reported, citing the head of …
Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corp’s (SPIMACO) on Thursday said that the board of directors had approved increasing SPIMACO Egypt's capital by 199% during the meeting held the previous day. SPIMACO …
Riyadh – Mubasher: Saudi Economic and Development Company Limited (SEDCO) announced that SEDCO Capital REIT Fund had signed a sharia-compliant financing contract at a value of SAR 600 million. The funding period lasts for five years, according to …
Riyadh – Mubasher: Saudi Arabia-based Flynas is negotiating with a slew of international banks to finance purchasing 120 Airbus A320neo aircraft, CEO Bander Al-Mohanna said on Tuesday. The Saudi budget airline, part owned by Saudi billionaire …
Riyadh – Mubasher: Construction giant Saudi Binladin Group (SBG) has obtained a SAR 10.88 billion ($2.9 billion) loan from the kingdom’s government to pay late wages of employees and bank creditors. Saudi Arabia’s biggest builder will also use the …
Riyadh – Mubasher: Abdullah A. M. Al-Khodari Sons Company on Wednesday announced the renewal of an SAR 330 million Islamic credit deal with Alawwal Bank. “The purpose of these credit facilities is to provide bonding commitments and fund capital …
Mubasher: The Arab Monetary Fund (AMF) will provide a $100 million loan to the Republic of Sudan within the framework of the small- and medium-sized enterprises (SMEs) Enabling Environment Support Facility. The loan agreement was signed by …
Riyadh – Mubasher: Bank lending to Saudi Arabia's private sector is expected to grow this year, backed by a rise in oil prices and an increase in government expenses, Saudi British Bank's (SABB) managing director, David Dew, has said. Lending …
Riyadh – Mubasher: Al Gassim Investment Holding Co on Thursday announced the signing of a three-year agreement with Al Rajhi Bank for SAR 30 million in facilities. The Islamic Sharia-compliant loan is guaranteed by a property mortgage and a …
Riyadh – Mubasher: Saudi Marketing Company, known as Farm Superstores, has signed a SAR 100 million ($26.7 million) credit facility with Banque Saudi Fransi. The deal is effective as of 21 March to 29 June 2018, upon which the Saudi firm will pay …
Riyadh - Mubasher: Saudi Arabian Mining Company (Ma’aden) is currently seeking to refinance bank debt raised for its subsidiary Ma’aden Bauxite and Alumina Company (MBAC). The company aims at attracting funds of nearly $1 billion, expected to be …
Riyadh – Mubasher: Two Saudi Arabian businessmen formerly detained a part of the kingdom’s anti-corruption drive are now in talks with lenders for loans for their companies. Kingdom Holding Company’s (KHC) owner Alwaleed bin Talal is holding …
