Saudi Arabia’s National Development Fund secures $1.3bn in credit facilities to boost development projects
Saudi Arabia’s National Development Fund has secured SR5 billion ($1.3 billion) in credit facilities through two agreements with Al-Rajhi Bank and Arab National Bank. The deals are designed to enhance funding for key development projects across the Kingdom, empowering its 12 affiliated development funds and financial institutions to drive economic growth and accelerate national transformation, […]
Saudi Aramco raises August Arab light crude OSP for Asia
Saudi Aramco has raised its official selling price for its flagship Arab Light crude oil destined for Asia in August, the company confirmed in an official statement on Sunday. The state-owned company raised the price of its benchmark oil to $2.20 per barrel above the average of Oman and Dubai crude prices. The August price […]
ACWA Power plans selective mergers to boost profits, secures $15.4bn in financing over 2 years
Saudi Arabia’s energy and water desalination giant ACWA Power has drawn investor attention regarding its expansion strategy, following the approval of its shareholders for a SR7.1 billion ($1.8 billion) rights issue. In an interview with Al-Eqtisadiah, Abdulhameed Al-Muhaidib, the company’s chief financial officer, outlined ACWA Power’s growth plans, financing approach, and future targets. ACWA Power […]
Saudi Arabia’s top 10 listed firms hit $2.1tn valuation, led by Aramco
Saudi Arabia’s top 10 publicly listed companies reached a combined market capitalization of $2.1 trillion as of April 25, highlighting their dominant role in the Kingdom’s capital markets, according to a new analysis by Forbes Middle East. The companies collectively reported $133.9 billion in net profits for 2024, reflecting the growing strength of the […]
Saudi Arabia opens July Sah sukuk subscription with 4.88% annual return
Saudi Arabia has launched the July subscription window for its government-backed savings sukuk, “Sah,” offering an annual return of 4.88 percent—slightly up from June’s 4.76 percent. Part of the 2025 issuance calendar managed by the National Debt Management Center under the Ministry of Finance, the sukuk reflects ongoing efforts to promote financial inclusion and encourage […]
Saudi PIF enters ‘post-trillion’ era with pivot from scale to substance
Saudi Arabia’s Public Investment Fund has surpassed $1 trillion in assets, marking a global milestone — but the organization is now pivoting from rapid expansion to a focus on solvency, strategic discipline, and sustainable long-term returns. According to Global SWF, the sovereign wealth fund, which recently announced an 18 percent increase in assets under management […]
Morgan Stanley Saudi Arabia to act as market maker for 52 companies: Tadawul
Morgan Stanley Saudi Arabia has been approved to conduct market-making activities for 52 companies listed on the Kingdom’s stock exchange, according to a statement on Tadawul. The US-based multinational investment banking company’s applications are set to cover securities on the main and parallel markets, commencing on July 1. Market makers are exchange members responsible for maintaining liquidity […]
Ericsson to scale up graduate hiring, internships in Saudi Arabia, senior official reveals
l Telecoms firm Ericsson is expanding its graduate hiring and internship programs in Saudi Arabia as it seeks to strengthen its regional footprint, a senior executive told Arab News. In an interview on the sidelines of the inauguration of the company’s regional headquarters in Riyadh, Patrick Johansson, president and head of market area Europe, Middle […]
Saudi Arabia unveils ESG-focused non-profit for industry, mining
Saudi Arabia has launched a non-profit association to help industrial and mining enterprises adopt top sustainability, social responsibility, and governance standards, supporting the Kingdom’s economic growth. The Ministry of Industry and Mineral Resources announced the establishment of the association to raise awareness among industrial and mining enterprises and support their adoption of sustainable and responsible […]
Madinah’s logistics sector grows 190% amid $57bn development push
Commercial registrations in Saudi Arabia’s Madinah transport and storage sector rose from 970 in 2019 to 2,817 by the end of 2024, reflecting strong five-year growth in the logistics industry. The 190 percent growth over the period also translates to an average annual increase of 38 percent, according to a recent economic report issued by […]