Fitch affirms Tawuniya ‘A' credit rating with positive outlook
In a statement to Tadawul, the insurer said that this rating is an important indicator reflecting the company's strong financial position and the diversity of its services and products.
Tawuniya views this rating as a testament to its continued commitment to financial strength, sustainable growth, and leadership in the Saudi insurance market, the statement added.
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Arab News
an hour ago
- Arab News
Expo memoir highlights Dubai's legacy of innovation
When Dubai hosted Expo 2020, it became the first country in the Middle East and North Africa region to hold the event, redefining the possibilities of a World Expo. Historically, these global gatherings, stretching back to 1851, have been dynamic showcases of experimental architecture, international collaboration and technological advancement. Yet, for almost two centuries, women were largely absent from their production and focus. Dubai notably changed this narrative, largely due to the formidable leadership detailed in 'When Ground Shifts,' the insightful new book by Reem Al-Hashimy, the UAE minister of state for international cooperation and the visionary behind Expo 2020. As Expo 2025 Osaka passes its halfway point, it continues to build on this rich history, while the anticipation for Expo 2030 Riyadh further underscores the region's commitment to this global platform for innovation and collaboration. Al-Hashimy's book is far from a mere chronicle of milestones; it is a candid, first-hand account of the immense personal and international challenges she navigated — from being appointed a minister at 29 to delivering Dubai's final presentation in Paris while heavily pregnant and repeating her mantra of 'hope is not a method.' The anecdotes reveal the tireless effort required to deliver a World Expo. Her book illuminates the relentless dedication that transformed a patch of untouched desert into a showplace for more than 190 countries and 24 million visitors. Expo 2020 visitors were captivated by the falcon-like UAE Pavilion; the majestic 'energy trees' surrounding Terra — The Sustainability Pavilion; and the immense Al-Wasl Plaza, the planet's largest 360-degree projection surface. Significantly, they were moved by the Women's Pavilion, inspired in part by a vintage Cartier bracelet. Her expo understood style as much as it did substance. Having had the privilege of witnessing Expo 2020 as a writer, a speaker for the US pavilion and as a member of the fair's Visitor Experience department, what I saw, and what Al-Hashimy's book powerfully conveys, is that a grand undertaking thrives from the top down. The meticulous attention to detail, the open-minded willingness to seek expertise from every corner of the globe, the pervasive feeling that everyone involved could contribute something, and the daring that was not just tolerated but actively sought all flowed from Al-Hashimy and the cast of several thousand characters she assembled like a Marvel superhero team. Her profound understanding of what she calls 'barakah' — the ability to find those who can ease your burdens and solve your problems — is a core theme in 'When Ground Shifts,' and it was palpable on the ground. Expo 2020 came within a hair's breadth of its goal of 25 million visitors, despite a year-long delay due to the lockdowns. Charles Pappas 'Inspiration is a guest that does not willingly visit the lazy,' Tchaikovsky said. The Expo 2020 site went from zero to a fully realized 4 sq. km city with mind-bending speed. Each problem was a domino falling to her steady, relentless effort. Perhaps no obstacle was greater than the COVID-19 pandemic. While the 1873 Vienna World's Fair saw a cholera epidemic slash its expected turnout, Expo 2020 came within a hair's breadth of meeting its goal of attracting 25 million visitors, despite a year-long delay due to the lockdowns. Drawing the largest number of countries ever for a World Expo, the event was cosmopolitan yet grounded in the Middle East. Indigenous ghaf and palm trees provided shade, while dozens of calligraphy benches, which resembled abstract art but spelled out words in Arabic like 'vision,' 'dignity,' 'hope' and 'dream,' offered respite from the 20,000 or so steps visitors would easily rack up in a day. These details, far from mere decorative elements, were integral to the event's cultural tapestry. 'When Ground Shifts' could easily have been a dull humblebrag. Instead, it is alive with grace and pride. The self-described 'little on the nerdy side' student who found deep meaning in the Lincoln Memorial and the American experiment built an expo where, for the first time, every country had its own pavilion. She also built Expo Live, which channeled $100 million to pioneering social projects that embodied the expo themes of mobility, opportunity and sustainability. This commitment to equitable participation and impactful legacy is a cornerstone of the book's message. Until 1970, most world expos were held in cities such as London, Paris, Philadelphia, Chicago and New York. But with Expo '70 in Osaka, Japan, world's fairs began trending toward non-Western locations, realizing their singular soft power. Expo 2020 propelled the UAE onto a world stage and into the top 10 countries in the Brand Finance Global Soft Power Index 2023. It was a nation's coming of age on the global stage. All of that is an astonishing heritage. As the spotlight shifts to Expo 2025 Osaka and continues with significant anticipation for Expo 2030 Riyadh, that spirit of global collaboration and innovation remains a powerful guiding force. Riyadh's bid, centered on 'The Era of Change: Together for a Foresighted Tomorrow,' aims to further advance global dialogue. The lessons learned from Dubai's inclusive approach and Osaka's technological ambitions will undoubtedly inform Riyadh's preparations, ensuring Expo 2030 continues the legacy of creating a platform for collective progress and a sustainable future. While every expo charts its own course, the high bar of success and the compelling story of leadership captured in 'When Ground Shifts' offer a rich context for understanding the immense undertaking that Osaka is now embracing and what Riyadh will soon embark upon. The world waits to see what new legacies they will inspire.
Argaam
4 hours ago
- Argaam
Signworld issues prospectus to float 1.5M shares on Nomu
National Signage Industrial Co. (Signworld) issued today, July 27, the prospectus to float 1.5 million shares, or 20% of capital, on the Nomu -Parallel Market. The company will offer 1.5 million shares, equal to 25% of pre-offering and 20% of post-offering capital, to qualified investors. For More IPOs The share sale will run from Aug. 17-24. The Capital Market Authority (CMA) approved, in March, the company's application for direct listing on Nomu. Signworld's core business involves the design, manufacturing, and assembly of electronic panels and displays for various applications, in addition to installation and maintenance services. It operates through three branches. Company Profile Company National Signage Industrial Co. (Signworld) Core Activities Manufacturing and sale of feed products Market Nomu-Parallel Market Pre-IPO Capital SAR 60mln Number of Shares 6 mln Post-IPO Capital SAR 75 mln New Number of Shares 7.5 mln Nominal Value SAR 10 a share IPO Summary Issue Percentage 20% of post-IPO capital, 25% of pre-IPO capital Offered Shares SAR 1.5 mln IPO Minimum Limit 10 shares IPO Maximum Limit 374,990 shares Offer Period Aug. 17-24, 2025 Final Allocation Aug. 27, 2025 Surplus Refund (If any) Aug. 31, 2025 Company Shareholders Shareholders Before IPO After IPO Number of Shares (mln) Ownership (%) Number of Shares (mln) Ownership (%) Al Mohandes Holding Group 6.00 100.00 % 6.00 80% Qualified investors -- -- 1.50 20% Total 6.00 100 % 7.50 100%
Argaam
5 hours ago
- Argaam
NADEC CEO says dividend policy tied to strategy, operations
Solaiman Altwaijri, CEO of National Agricultural Development Co. (NADEC), said the cash dividend decision depends on several strategic and operational factors, mainly the company's current stage and future funding requirements. He explained in an interview with Argaam that since NADEC is undergoing an expansion phase, financial resources are currently directed toward executing its growth plans. Altwaijri added that the company's outlook for the remainder of 2025 remains aligned with its strategic and operational roadmap and that no major developments are anticipated. He said Q2 2025 net profit rose on the back of a 5.1% year-on-year (YoY) increase in net revenue, driven by growth in new business segments, and although operating costs rose due to higher fuel expenses, this was offset by a 23% YoY increase in treasury income. Commenting on the protein segment, Altwaijri stated that the red meat business, a recent addition, generated SAR 59 million in net revenue during Q2, marking a 35% YoY growth, while profitability indicators remained stable. He noted that the dairy and food segment remained the top revenue contributor at 89%, followed by the protein segment at 7% and agriculture at 4%. Altwaijri also pointed out that the Central and Eastern Provinces recorded the strongest demand during Q2, with both seeing significant sales growth.
