Business & Money | Monday 19 May, 2025 10:50 am

Alinma Bank plans USD-denominated AT-1 sukuk

Alinma Bank plans to issue USD-denominated additional Tier 1 (AT1) sukuk, following a May 5 board resolution authorizing the CEO to take all necessary steps to execute the issuance. In a statement to Tadawul, the bank said the sukuk will likely be issued through a special purpose vehicle...

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Business & Money | Monday 19 May, 2025 10:48 am

Al-Rumayyan expects PIF’s investments in Europe to hit $170B from $85B

Saudi Arabia’s Public Investment Fund (PIF) has deployed $85 billion in Europe between investments and procurements from 2017 to 2024, said Governor Yasir Al-Rumayyan at the FII Priority Summit.  The fund anticipates these investments to grow to $170 billion by...

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Business & Money | Monday 19 May, 2025 10:44 am

ADES, Aramco renew Saudi platform contract for 10 years at SAR 1.61B

ADES Holding Co. renewed on May 18 the contract for one of its offshore platforms with Saudi Aramco for a period of 10 years, at an estimated cumulative value of SAR 1.61 billion ($429 million). The contract renewal will significantly enhance revenue visibility and support the...

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Business & Money | Monday 19 May, 2025 10:38 am

solutions signs SAR 651.7M contracts with stc

Arabian Internet and Communications Services Co. (solutions) signed several contracts with stc, a related party, to implement a project for upgrading IT infrastructure and cloud partnerships, in addition to a project for renewing Oracle software licenses. The...

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Business & Money | Monday 19 May, 2025 10:36 am

2P wins SAR 60.6M project from Saudi Red Crescent

Perfect Presentation for Commercial Services Co. (2P) secured a SAR 60.6 million contract, inclusive of VAT, from the Saudi Red Crescent Authority to supply and implement computer equipment and digital infrastructure across its affiliated sites. In a statement to Tadawul, 2P said the project...

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Business & Money | Monday 19 May, 2025 10:32 am

SGS secures bank facilities with SNB, BSF up to SAR 850M

Saudi Ground Services Co. (SGS) signed two Shariah-compliant bank facilities agreements with Saudi National Bank (SNB) and Banque Saudi Fransi (BSF) up to SAR 550 million and SAR 300 million, respectively. The funds can be drawn when needed, SGS said in a statement to Tadawul. SNB...

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Business & Money | Monday 19 May, 2025 10:28 am

EDGE, Barricade AI join forces to transform global policing operations through AI

EDGE, one of the world's leading advanced technology and defence groups, announced that its entity, BEACON RED, signed a Memorandum of Understanding (MoU) with Barricade AI, the US-based provider of artificial intelligence (AI)-driven public safety solutions, at the World Police Summit, held in...

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Business & Money | Monday 19 May, 2025 10:15 am

UAE Cybersecurity Council develops national Drone Cybersecurity Guidelines

The UAE Cybersecurity Council (CSC) announced the development of the UAE’s first national Drone Cybersecurity Guidelines, in strategic collaboration with Reach Digital, a subsidiary of Reach Group and specialises in digital transformation and cybersecurity innovation, and Shieldworkz, a...

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Business & Money | Monday 19 May, 2025 10:11 am

400 UAE companies benefit from AED65.7 billion contract awards in H1 2025 as ADNOC boosts local economic growth

Nearly 400 local suppliers, contractors and service providers have received contract awards from ADNOC valued at AED65.7 billion in the first half of 2025 as the company deploys its purchasing power to boost socioeconomic growth, empower businesses and generate long-term value for the...

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Business & Money | Monday 19 May, 2025 10:09 am

Sharjah hosts inaugural 2025 WTCA Middle East Members Conference

The emirate of Sharjah hosted the inaugural 2025 World Trade Centers Association (WTCA) Middle East Members Conference, organised by Expo Centre Sharjah, bringing together leaders and representatives from the region’s growing number of 18 World Trade Center businesses. The Conference aimed...

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