Saudi Arabia predicted to lead IPO drive in MENA: report
Saudi Arabia will lead the initial public offerings in the Middle East and North Africa region in 2024, with 27 companies eyeing to list on the Kingdom’s main market, an analysis showed. In its latest report, Dubai International Financial Center, in association with the London Stock Exchange Group, said that the IPO pipeline in the […]
PIF’s SRC extends refinancing agreement with ANB with additional $133m
Citizens will have easier access to home loans as the Saudi Real Estate Refinance Co. extends its refinancing agreement with Arab National Bank (ANB), adding SR500 million ($133 million). This is the second deal of its kind between the Public Investment Fund-owned SRC and ANB, according to a statement. This move signifies SRC’s ongoing efforts […]
Johnson Controls Arabia to localize Japanese technology to support growing exports
While many perceive Saudi Arabia solely as an oil exporter, the truth is that its economy is already diversified and will further diversify under the Saudi Vision 2030 plan of Crown Prince Mohammed bin Salman. Johnson Controls Arabia, a joint venture company with Johnson Controls International — a US Fortune 500 company — and Al […]
Saudi Arabia begins sale of triple-tranche sukuk
Saudi Arabia has started selling its triple-tranche benchmark-sized Islamic bonds, or sukuk, with tenors of 3, 6 and 10 years, fixed-income news service IFR reported on Tuesday. Initial guidance has been placed around 85 basis points over US Treasuries for the three-year sukuk, 100 bps over UST for the 6-year portion, and 110 bps for […]
Saudi Arabia’s non-oil sector to grow by 4.8% in 2024: Riyad Capital
Saudi Arabia’s non-oil sector is projected to grow at a rate of 4.8 percent in 2024, driven by the Kingdom’s growth-oriented fiscal policy, according to an analysis. In its latest report, Riyad Capital stated that the sector will accelerate further in 2025, with a projected expansion rate of 5.2 percent. “We project continued solid growth […]