Halwani Bros obtains nearly $61.6mln funding from Al Rajhi Bank
Halwani Bros Company has secured SAR 230.83 million total funding from Al Rajhi Bank after it penned an amendment of existing Sharia-aligned compliant financing agreement with the lender to endorse the working capital and reduce finance costs. The funding includes SAR 210 million allocated for the working capital until the end of July 2023. […]
Saudi cement demand likely to remain flat in 2023 – report
Saudi Arabia’s cement demand is expected to remain flat in 2023 but grow five percent year-on-year (YoY) in 2024, SICO Bank said in a new report on the cement sector. The growth in cement demand will be led by boom in construction activity in the tourism sector and by the hosting of international events with […]
Saudi Home Loans unveils $217mln facilities from ANB, Riyad Bank
Saudi Home Loans Company (SHL) obtained loans worth SAR 815 million from Arab National Bank (ANB) and Riyad Bank on 4 January 2023, according to bourse disclosures. In the line with its strategic future plans, the firm will use the proceeds of the investments to enlarge its sales volume through newly originated loans to its […]
Saudi’s Jahez completes acquisition of Marn Business
Jahez International Company for Information System Technology has fully acquired Marn Business Information Technology Company’s shares at a value of SAR 60 million. Jahez concluded the transaction on 4 January 2023 after fulfilling all the required procedures and obtaining the regulatory approvals, according to a bourse disclosure. The Tadawul-listed company pointed out the acquisition […]