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  • Saudi mall operator Arabian Centres plans $500 mln sukuk

    Saudi Arabian mall operator Arabian Centres is planning a sale of $500 million sukuk, or Islamic bonds, sources familiar with the matter said, in what would be the first Saudi corporate international bond issuance this year. Arabian Centres, which operates 21 shopping centres across Saudi Arabia, made its debut in the international sukuk market in 2019 with a $500 million issuance, after going public earlier that year with a 2.8 billion riyal ($746.61 million) initial public offering in Saudi Arabia.

  • Saudi Arabia closes March domestic issuance of sukuk program at 7.674 bln riyals -SPA

    Saudi Arabia’s National Debt Management Center closed on Tuesday its local issuance for March, 2021 of the kingdom’s sukuk, or Islamic bonds, program at a total of 7.674 billion riyals ($2.05 billion), Saudi state news agency (SPA) said.

  • PIF’s Saudi Real Estate Refinance Company issues $1.07bn sukuk

    “The latest sovereign-guaranteed offering, underpinned by favorable cost of funding and terms, will further provide liquidity to the Saudi housing market that helps our citizens climb the housing ladder,” he said.

  • Alhokair and ACC to acquire UK’s Vogacloset to develop presence in KSA

    Alhokair, a franchise retailer in Saudi Arabia and Arabian Centres Company (ACC), the owner, developer, and operator of lifestyle shopping centres in Saudi Arabia, have announced that they will acquire a combined 51% stake in Vogacloset, a UK-based online fast fashion platform that caters to the Middle East.

  • Moody’s – Global sukuk issuance to pull back from record highs in 2021 as financing needs ease

    “In 2022, we expect that total long-term sovereign sukuk issuance will increase to $99 billion.” Although higher oil prices and recovering economic activity will continue to narrow the fiscal deficits of major sukuk-issuing sovereigns, gross issuance will be supported by more than $41 billion in maturing sukuk that will need to be refinanced, mainly by Saudi Arabia, Malaysia and Indonesia.

  • Video: Camels under heavy snow storm underway in Tabuk, Saudi Arabia

    Video via Twitter: Heavy snow storm is underway in Tabuk in Saudi Arabia.

  • Saudi Arabia closes February $840m sukuk program

    The Saudi National Debt Management Center said on Wednesday that it has closed the February 2021 issuance under the government’s riyal-denominated sukuk program. The issuance size was fixed at SR3.16 billion ($840 million), the Ministry of Finance said in a statement.

  • UK authorised £1.4bn of arms sales to Saudi Arabia after exports resumed

    Official figures released on Tuesday showed that in the period following the restart – the quarter between July and September – the UK authorised £1.39bn worth of arms exports, of which £1.36bn were in the category that includes missiles and bombs.

  • UK declines to follow US in suspending Saudi arms sales over Yemen

    On Monday, the UK Foreign Office minister, James Cleverly, said he had noted the US review, but said British arms sales licences were issued with great care to ensure they did not lead to any breach of humanitarian law.

  • Saudi student saves man from drowning in UK river

    A Saudi man has been described as a “hero” and an “inspiration” after rescuing another man from drowning in a river in the UK. Turki Al-Shammari, a student at the University of Central Lancashire, saved Dean Lowe from the River Ribble in Preston, England, after he had entered the water to try to rescue his family’s dog. Al-Shammari had been out feeding birds in a park when he heard the commotion.