EFG Hermes completes advisory on landmark $1.21bln IPO of ADES on the Saudi Exchange
EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), announced today that its investment banking division successfully completed advisory on the landmark SR4.572 billion ($1.219 billion) initial public offering (IPO) of ADES Holding Company (ADES), a leading oil and gas drilling and production services provider in MENA, on the Saudi Exchange. […]
Saudi: SIRC, Edama enter partnership on organic waste management, Desert Agriculture Development
The Saudi Investment Recycling Company SIRC, wholly owned by the Public Investment Fund (PIF), entered into a strategic partnership with Edama Organic Solutions, the leading company in sustainable management solutions for organic waste. The cooperation aims to create a new joint company dedicated to revolutionizing organic waste recycling in the Kingdom. The joint project is […]
Red Sea Destination officially launches Saudi’s first seaplane company
Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations – The Red Sea and Amaala – celebrated the take-off of its first seaplane flight operated by its subsidiary company, Fly Red Sea. Established as the first seaplane company in the Kingdom of Saudi Arabia, Fly Red Sea aims to […]
Saudi energy minister: need to be proactive on oil market
Saudi Energy Minister Prince Abdulaziz bin Salman said in a Russian TV interview that it was necessary to be “proactive” on the oil market and attempt to bring stability to it. He said in the interview, conducted on Wednesday and aired on Thursday, that the market was unpredictable and “cannot be left on its own”. […]
Russia, Saudi Arabia eye mutual trade boost – ministers
Saudi Energy Minister Prince Abdulaziz bin Salman and Russian Deputy Prime Minister Alexander Novak said on Thursday that both countries seek closer trade ties. Novak also said that Russia and Saudi Arabia have discussed lifting mutual visa restrictions.