Latest news with #AlRajhi
Zawya
14-07-2025
- Business
- Zawya
Saudi accounts for two-thirds of Mena's H1 sustainable bonds
Annual issuances of green social, sustainable, and sustainability-linked bonds (GSSS) in the Middle East and North Africa (Mena) reached $9.47 billion in the first six months of 2025, down slightly from the same period of last year ($ 9.91 billion), according to data from Bloomberg's Capital Markets League Tables. Higher global interest rates and a pause in deals from Egypt and Qatar offset strong Saudi and UAE supply, keeping regional volumes broadly unchanged from H1 2024. Investors digested the heaviest pipeline in 2023, when issuances surged to their highest levels due to COP28 taking place in the region. Saudi Arabia and the UAE accounted for all issuances in H1 2025. Saudi Arabia surged to the top of regional league tables, accounting for 66% of total issuances ($6.25 billion) in the first six months of 2025. The 25% increase on the same period of 2024 was driven by Vision 2030 infrastructure spending. The largest issuance came from the Saudi government ($1.58 billion), while Al Rajhi issued two sustainable sukuks ($1.5 billion and $200 million respectively). Other green and sustainable sukuk issuers include Saudi Electricity (1.25 billion), and debut issuances from Alinma ($500 million) and SAB's AT1 issuance ($650 million). The UAE accounted for the remaining 34% of issuances ($3.22 billion). Key transactions included debut issuances from National Central Cooling ($700 million) and Omniyat ($500 million). The majority of Mena sustainable debt issuances during the period were Islamic instruments ($6.8 billion), with the 17% year-on-year increase reflecting the emergence of Saudi Arabia and the UAE as global Islamic finance centers. The period was also notable for the significant growth in AT1 issuances, which accounted for $3.15 billion of sales, the highest level seen in the last five years. AT1 issuances are a key way for banks to comply with the Basel 3 framework ahead of the initial phase in dates of 2026. They witnessed strong investor demand in the UAE from regional and international investors. Venty Mulani, Data Specialist - Sustainable Fixed Income, Bloomberg LP, said: 'The sustainable bond market in Saudi Arabia and the UAE continues to mature and evolve. As reporting improves, with Bloomberg data suggesting nearly 68% of issuances over the past three years have either an impact or allocation report, we look forward to seeing more transparency through innovations such as green digital bonds.'
Arab News
03-07-2025
- Business
- Arab News
Closing Bell: TASI closes the week in green at 11,244, climbing 1.03%
RIYADH: Saudi Arabia's Tadawul All Share Index concluded Thursday's trading session at 11,244.45 points, marking an increase of 114.81 points or 1.03 percent. The total trading turnover of the benchmark index was SR5.625 billion ($1.5 billion), as 139 of the listed stocks advanced, while 110 retreated. The MSCI Tadawul Index also increased by 19.52 points, or 1.37 percent, to close at 1,443.46. The Kingdom's parallel market Nomu reported a decrease, losing 88.34 points, or 0.32 percent, to close at 27,287.50 points. This comes as 37 of the listed stocks advanced while 38 retreated. The index's top performer, Fawaz Abdulaziz Alhokair Co., saw a 9.85 percent increase in its share price to close at SR29. Other top performers included Saudi Ceramic Co., which saw a 6.26 percent increase to reach SR31.90, while Halwani Bros. Co.'s share price rose by 5.55 percent to SR44.86. Middle East Healthcare Co. also recorded a positive trajectory, with share prices rising 5.09 percent to reach SR57.80. Al-Rajhi Co. for Cooperative Insurance was TASI's worst performer, with the company's share price falling by 2.91 percent to SR123.30. Saudi Industrial Export Co. followed with a 2.51 percent drop to SR2.33. Ades Holding Co. also saw a notable decline of 2.32 percent to settle at SR13.06. Americana Restaurants International PLC and Naseej International Trading Co. were among the top five poorest performers, with shares dropping by 2.08 percent to settle at SR2.35 and 1.96 percent to sit at SR100, respectively. On the announcement front, Riyad Bank announced its intention to issue tier 2 trust certificates denominated in US dollars under its updated international trust certificate issuance program, the bank said on Thursday. According to the bank's statement on Tadawul, the issuance — approved by its board on August 9 — is expected to be carried out through a special purpose vehicle and offered to eligible investors both in Saudi Arabia and internationally. The offering is part of the bank's broader capital-raising initiative aimed at general banking purposes, and its size and terms will be determined based on prevailing market conditions at the time of issuance. The Saudi lender has appointed Standard Chartered Bank, HSBC Bank, Merrill Lynch International, and J.P. Morgan Securities, as well as SMBC Group, Mizuho International, DBS Bank Ltd, and Riyad Capital as joint lead managers for the proposed offer. The proposed issuance of trust certificates will proceed following approvals from relevant regulatory bodies and will comply with all applicable laws and regulations. Riyad Bank's share price traded 2.54 percent higher on Thursday to close at SR28.36.
Arab News
23-06-2025
- Business
- Arab News
Closing Bell: TASI rises 1.3% as market breadth remains positive
RIYADH: Saudi Arabia's Tadawul All Share Index rose 1.29 percent to close at 10,710.24 on Monday, supported by broad-based gains across sectors. Trading activity remained healthy, with turnover hitting SR4 billion ($1 billion) and the market recording 225 advancers versus 20 decliners. The MSCI Tadawul 30 Index also climbed 1.16 percent to close at 1,377.63. The parallel market Nomu ended 0.80 percent higher at 26,358.07. Red Sea International Co. led the main market gainers with a 9.97 percent jump to SR38.60. Al-Rajhi Co. for Cooperative Insurance followed with an 8.86 percent gain to close at SR113. Other top performers included National Gypsum Co., which rose 7.61 percent to SR19.52; Americana Restaurants International, up 6.86 percent at SR2.18; and Naseej International Trading Co., which added 6.53 percent to reach SR78.30. On the downside, Sustained Infrastructure Holding Co. was the biggest decliner, falling 3.07 percent to SR25.30. Alistithmar AREIC Diversified REIT Fund dropped 1.58 percent to SR8.12, while Eastern Province Cement Co. slipped 1.17 percent to SR29.50. Other notable fallers included Knowledge Economic City, down 0.92 percent at SR12.86, and Saudi Industrial Investment Group, which closed 0.71 percent lower at SR16.70. On the announcement front, Etihad Atheeb Telecommunications Co., known as GO Telecom, confirmed the completion of its acquisition of a 51 percent stake in Ejad Tech for Information Technology. The deal, valued at SR86.7 million, was finalized using internal company resources. The group stated that SR40 million was paid upon signing, with the remaining SR46.7 million to be disbursed in two installments contingent upon target achievements — SR23.7 million by the end of 2025 and SR23 million by the end of 2026. GO Telecom said the acquisition is part of a strategic initiative to broaden its business base and enter new sectors. Ejad Tech is recognized as one of the top five digital transformation service providers in the Middle East. GO Telecom shares closed up 0.98 percent at SR93.10.
Qatar Tribune
08-06-2025
- General
- Qatar Tribune
Plane lands safely at Kuwait airport after false bomb alarm
KUWAIT: The Directorate General of Civil Aviation (DGCA) in Kuwait announced the safe landing of an airline plane at Kuwait International Airport after receiving a false report of a bomb on board. "During the flight to Kuwait, a report was received stating that there was a bomb on board," Abdullah Al Rajhi, the department's official spokesperson, said, according to the Kuwait News Agency. He noted that the report was dealt with immediately in accordance with the security procedures and protocols adopted at Kuwait International Airport. Al Rajhi explained that, in full coordination with the Kuwaiti Ministry of Interior and relevant authorities, the plane landed safely, and the security plans established to deal with such reports were implemented. He confirmed that all passengers were safely disembarked and placed in an isolated lounge, noting that there were no adverse effects resulting from the incident on board the flight. He also noted that scheduled flights at Kuwait International Airport were not affected by the incident.
Arab News
02-06-2025
- General
- Arab News
‘Ghar Se Ghar Tak': Pakistan Hajj pilgrims to be facilitated through designated administrators
ISLAMABAD: Pakistan's government has introduced an ambitious plan for the first time through which a designated 'nazim' or administrator will assist a group of 188 Pakistani Hajj pilgrims during the peak days of the pilgrimage as they travel from Mina to Muzdalifah and back to Makkah, state-run media reported on Monday. 'Mashair days' is a term used to refer to the dates from 8 to 13 Dhul Hijjah, the last month of the Islamic lunar calendar. These are the peak Hajj days when pilgrims from all parts of the world move between Mina, Arafat, Muzdalifah, and then return to Mina, performing religious rituals at sacred sites in Makkah. Pakistan's Coordinator Facilitation Makkah Sajjad Haider Yaldram said that as per the government's 'Ghar Se Ghar Tak' (Home to Home) plan, each nazim or Hajj administrator will assist a group of 188 Pakistani Hajj pilgrims throughout the Mashair days this year. 'The nazim will accompany the group from Mina to Arafat, Muzdalifah to Jamarah and back to Makkah,' Yaldram was quoted as saying by the state-run Associated Press of Pakistan. Each nazim will be assisted by two assistants, along with three personnel from the Saudi Tawafa company Al-Rajhi during these days. He said the Punjab Information Technology Board has also developed an online mobile application, 'Pak Moavin,' which enables real-time monitoring of all Hajj support staff personnel from their place of deployment. Speaking about the 'Pak Hajj 2025' app, he said it provides essential information, including the personal details of pilgrims, group information, building locations and other services. 'We have received great feedback from pilgrims about the app,' Yaldram said. 'It's a source of satisfaction and motivation for us. All the information is centralized, notifications are integrated, and maps help locate missing pilgrims.' This year, Hajj rituals will commence on June 4, with the Day of Arafah on June 5, and Eid Al-Adha to be observed on June 6 in Saudi Arabia.
