Business & Money | Monday 24 August, 2020 9:07 am

ENBD REIT hedges AED 400m facility with Mashreq Bank

ENBD REIT (CEIC) PLC (“ENBD REIT” or the “Fund”), the Shari’a-compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has executed a Shari’a-compliant profit rate swap with Mashreq Bank, on its AED 400 million facility, which will hedge 56% of...

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Business & Money | Monday 24 August, 2020 1:54 am

SAMI names Eng. Walid Abukhaled as CEO

The Board of Directors of Saudi Arabian Military Industries (SAMI) has appointed Eng. Walid Abukhaled as CEO of the company. The decision comes following his role as Acting chief executive officer and is based on his proven ability and competence to manage the company’s business effectively...

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Business & Money | Sunday 23 August, 2020 10:27 am

Covid-19 response: Dubai Customs ensures supply chain continuity during pandemic

Dubai Customs has played a pivotal role in ensuring the continuity of global and local supply chains amid the Covid-19 pandemic. Customs inspection and clearance operations at sea, air and land entry-points have been running around the clock to ensure smooth flow of cross-border trade as well as...

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Business & Money | Sunday 23 August, 2020 6:16 am

SASO, UL Discuss Strengthening Cooperation

The Saudi Standards, Metrology and Quality Organization (SASO) discussed, in a virtual meeting, the means of strengthening cooperation with the Underwriters Laboratories (UL), as a continuation of cooperation between the two sides and in order to activate the memorandum of understanding signed...

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Business & Money | Sunday 23 August, 2020 3:24 am

Saudi Arabia finance ministry announces closure of August issuance of sukuk program

Saudi Arabia’s finance ministry announced on Saturday the closure of the August 2020 issuance of the government’s sukuk progam. The first tranche of the sukuk, or Islamic bonds, has a size of 100 million riyals ($26.6 million) and a total tranche size of 6.125 billion riyals, maturing in...

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Business & Money | Saturday 22 August, 2020 2:28 am

Ministry of Human Resources: All Public Sector Employees Shall Return to Workplaces, as of 11/01/1442 H

An official source at the Ministry of Human Resources and Social Development said here today that following reviewing the reports of the work team, on the health indicators and data in the cities and governorates of the Kingdom of Saudi Arabia, all public sector employees shall return to the...

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Business & Money | Saturday 22 August, 2020 1:51 am

Bahri signs $410m agreement to receive 10 new chemical tankers from Hyundai Mipo Dockyard

Bahri, a global leader in logistics and transportation, signed a new agreement with Hyundai Mipo Dockyard, a member of Hyundai Heavy Industries (HHI) Group, which owns one of the largest state-of-the-art shipyards in the world, to build ten 49,999-dwt Medium Range (MR) chemical...

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Business & Money | Friday 21 August, 2020 9:00 am

E-payment compulsory from Aug. 25; 30% reward for whistleblowers

Okaz/Saudi Gazette Abdulrahman Al-Hussein, spokesman of the Ministry of Commerce, said that teams from the Ministry of Commerce and Ministry of Municipal and Rural Affairs detected 82 violations during their raids carried out on 3,500 commercial establishments during the last three weeks.It...

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Business & Money | Thursday 20 August, 2020 2:00 pm

Ithra Launches the Tanween Challenges

The King Abdulaziz Center for World Culture (Ithra) is pleased to announce the Tanween Challenges, a set of creativity and innovation challenges that will be featured during this fall’s Tanween Season. The Challenges encourage participants to think creatively while working with industry experts...

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Business & Money | Thursday 20 August, 2020 12:15 pm

Arqaam Capital Maintains Buy on Saudi Re and Increases Target Price of SAR to SR 14.7

Arqaam Capital maintained its Buy recommendation on the Saudi Reinsurance Company "Saudi Re" share and increased the target price from SAR 11 to SAR 14.7 per share.    "Arqaam Capital" highlighted that the sole Saudi reinsurer is positioned to benefit from growth opportunities...

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