The Real Estate General Authority (REGA) will host the inaugural Global PropTech Summit in Riyadh in October. The event will be held under the patronage of Minister of Municipalities and Housing and REGA Board of Directors Chairman Majed Al-Hogail. The National Housing Company (NHC) will serve as a ...
Pan Gulf Marketing Co. obtained, on Oct. 16, SAR 57.09 million worth of Shariah-compliant credit facilities from Al Rajhi Bank, according to a statement to Tadawul. The one-year credit facilities were provided with no guarantees in return. Pan Gulf will use the funds to finance working...
The National Shipping Company of Saudi Arabia (Bahri) signed a Murabaha financing agreement with Alinma Bank for $756 million (SAR 2.835 billion), according to a statement to Tadawul. The 10-year facility is guaranteed by mortgaging the purchased very large crude carriers (VLCCs). The...
Development Works Food Co.'s board of directors unveiled the company’s new strategy today, Oct. 16, under which capital would be raised from SAR 30 million to SAR 120 million through a SAR 90 million rights issue, according to a Tadawul filing. Other strategy focus points include exiting...
Jadwa REIT Saudi Fund signed a new management, operation and leasing agreement with Sareed Development & Real Estate Investment Co. for the Boulevard Riyadh complex, under which the latter will become the property’s new operator. Accordingly, Sareed will carry out works related to...
Perfect Presentation Co. (2P) signed a contract for operating the Deanship of Information Technology at Umm Al-Qura University for SAR 46 million (VAT inclusive). In a statement to Tadawul today, Oct. 17, the company said the 36-month contract would have a positive impact on its financials for ...
The Saudi Exchange (Tadawul) approved the request received from Al Rajhi Capital to conduct market-making activities on Altharwah Albashariyyah Co. (Tharwah), as of Oct. 20. The market maker obligations on Tharwah are the following: - Minimum Presence of Orders: 50%. - Minimum Size:...
Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC), signed a Partnership Agreement with Kaspersky, a global leader in cybersecurity. The agreement was signed by Mohammad Bin Sulaiman, CEO of Moro Hub, and Toufic Derbass, Managing Director for the ...
The Dubai Environment and Climate Change Authority (DECCA) signed a Memorandum of Understanding (MoU) with Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority PJSC (DEWA), at GITEX 2024, which runs from 14th to 18th October at Dubai World Trade...
Abu Dhabi Securities Exchange (ADX), one of the fastest-growing exchanges in the world, announced today that it has signed a memorandum of understanding with ADIB Securities, a leading Sharia-compliant brokerage firm in the UAE and a wholly owned subsidiary of Abu Dhabi Islamic Bank (ADIB), to...
Dubai Customs leverages artificial intelligence (AI) and advanced technology to speed up trade operations and improve customer experiences. At GITEX Global, held under the theme "Global Collaboration to Forge A Future AI Economy" the department is showcasing a range of digital initiatives,...