EWEC opens Q4 2023 Clean Energy Certificates auction
Emirates Water and Electricity Company (EWEC) today announced that it will conduct its Q4 2023 auction for Clean Energy Certificates (CECs) in Abu Dhabi, with registration now open and the auction closing on 14th December 2023. Introduced by the Abu Dhabi Department of Energy (DoE), CECs are currently the only accredited instruments in Abu Dhabi […]
Saudi: Osool and Bakheet Investment’s Chairman resigns
Abdulwahab Abdulkarim Albetari resigned from his position as the Chairman of Osool and Bakheet Investment Company due to personal reasons. The board members accepted Albetari’s resignation on 23 November, yet it became effective on 26 November 2023, according to a bourse filing. Earlier this month, the company floated 1.50 million shares on the Parallel Market […]
Saudi companies Retal, JABEEN sign $320mln contract to develop housing units in Jubail
Saudi’s Retal Urban Development Company announced on Monday that it has signed an agreement with Jubail and Yanbu Industrial Cities Services Co. (JABEEN), the investment arm of the Royal Commission for Jubail and Yanbu (RCJY), to develop primary and secondary infrastructure works and to design and construct 897 residential units in Jubail Industrial City. The […]
Saudi Exchange begins trading single stock options contract today
The Saudi stock exchange Tadawul will begin trading single stock options (SSO) on Monday where investors can trade SSOs on four listed stocks as their underlying assets. The first tranche of SSOs have the stocks of Aramco, Al Rajhi Bank, Saudi Telecommunication Company (STC), and SABIC as underlying assets, the exchange said on its website. […]
Jabal Omar completes redemption of $135mln sukuk
Jabal Omar Development Company has fully redeemed its Sukuk at an aggregated value of $135 million, according to a bourse disclosure. The listed firm pointed out that the value of the redeemed Sukuk reached $67.50 million, adding that the percentage of the transaction hit 50%. Issued on 15 November 2018, a total of 337.50 Sukuk […]
Foster + Partners wins contest to design new Abha airport terminal
British architectural firm Foster + Partners has won an international competition to design a new terminal for Abha Airport in Saudi Arabia’s Aseer region. Inspired by the nearby Rijal Almaa village, the winning design reinvents the airport terminal as a series of interconnected human-scale clusters, outdoor courtyards and walkways, said a statement from Foster + […]
Saudi Arabia’s trade surplus jumps 27.5%, reaching $11.73bln in September
Saudi Arabia’s trade surplus recorded an increase for the second month in a row, reaching SR44 billion ($11.66 billion) in September 2023, according to the latest figures released on Thursday by the General Authority for Statistics (GASTAT). This marked an increase of 27.5 percent, compared to the surplus in August, when it reached SR34.31 billion, […]
Eight agreements signed during Saudi-Algerian Business Forum to enhance trade, investment
The Saudi-Algerian Business Forum concluded its activities Thursday with the two countries signing eight agreements aiming at enhancing trade and investment. The agreements covered the sectors of trade, investment, information technology, business incubators and accelerators, tourism services, elevators, and spare parts. The agreements were signed by the Federation of Saudi Chambers (FSC), the Council for […]
Minister stresses need for enhancing strategic relations between Saudi Arabia and Algeria
Saudi Arabia’s Commerce Minister Dr. Majid Al-Qasabi met in Riyadh with Algeria’s Minister of Trade and Export Promotion Tayeb Zitouni and his accompanying delegation. Dr. Al-Qasabi affirmed the importance of enhancing trade and investment relations and establishing companies with the private sector of both countries in different fields. He also emphasized the necessity of establishing […]
First batch of Saudi sea bridge shipment for Gaza relief arrives in Egypt
The King Salman Humanitarian Aid and Relief Centre (KSrelief) team received, in Port Said Port in Egypt, the first batch of shipment from the Saudi sea bridge as relief for Palestinians in Gaza. The shipment that will be prepared to be transported to the affected Palestinian people in the Gaza Strip carry 1,050 tons of […]