Author: admin

Türk Eximbank, a state-backed export credit institution, has secured $1 billion in new funding to support small businesses. The funds will be used to support women-led small and medium enterprises (SMEs) operating in low-income regions and provide financial support to SMEs exporting green products, the bank said in a post on the social media platform LinkedIn. The financing has been structured in three currencies: €499.5 million, $246 million and 1.34 billion Chinese yuan, with maturities of one, two and three years, local media reported. The funding was backed by 33 financial institutions from Europe, the Far East and the Gulf…

Saudi Arabia has secured second place among G20 countries in the UN International Telecommunication Union’s 2024 ICT Regulatory Tracker, marking a significant milestone in the Kingdom’s efforts to modernize its digital regulatory environment. The achievement underscores Saudi Arabia’s progress in developing a robust regulatory framework for the telecommunications and information technology sectors. It reflects the country’s commitment to fostering innovation, building advanced digital infrastructure, and implementing effective regulatory tools that support investment and fuel the growth of the digital economy. The Communications, Space and Technology Commission said the index is designed to assist policymakers and regulators in keeping pace with…

Nissan Formula E Team delivered an electrifying performance at its home race in Tokyo, with Oliver Rowland securing both a victory in Round 9 and a second-place finish in Round 8. Rowland’s weekend showcased his championship pedigree, a masterful drive in Round 18 saw him climb from sixth to first with a daring last-minute pass on reigning champion Pascal Wehrlein (Porsche), marking his fourth win during this season. This followed a strong P2 finish in Round 8, where he battled in rain-affected conditions after qualifying was cancelled. Teammate Norman Nato showed strong pace in practice and qualifying both days but…

JIMMY, a global innovator in household appliances, officially launched in the KSA following a successful event with exclusive distribution partner Amit Trading Co.The leading global brand, known for creating innovative technology for a smart lifestyle, has announced its official entry into the Kingdom of Saudi Arabia market.JIMMY focuses on developing cutting-edge floorcare appliances, boasting over 2200 patents and a team of 800 experienced R&D engineers. The brand’s commitment to excellence is reflected in its numerous design awards, including the German Design Award and the Red Dot Award.JIMMY has entered the UAE and KSA markets with a range of modern and…

ICD income up 6% Asset value up 10% to $211bn Source of revenue for Dubai government The Investment Corporation of Dubai (ICD) said profit and the value of its assets rose last year, buoyed by performance in its aviation, real estate and banking portfolio. Net income climbed 6 percent to AED53.2 billion ($14.5 billion) and the value of its assets more than 10 percent to AED774 billion, the fund said in an annual report released this week.  Revenue jumped nearly 13 percent to almost AED350 billion, compared with 2023. ICD, which owns Emirates airline, is an important source of revenue…

Earth Hotels Saudi is opening soon. The conscious, design-led hospitality brand is opening new locations in Saudi Arabia and Europe, with four new urban resorts on the way. The total project value? Over $202 million. The goal? To create places that connect people—not just places to sleep. Earth Hotels Saudi First stop Riyadh (Opening Q3 2026) (Credit: Supplied) Earth Hotels Saudi will open its first Kingdom location in Riyadh’s Al Maathar district, not far from the Diplomatic Quarter. Earth Hotels Saudi’s Riyadh property is designed for both business travelers and locals, people who want a place that feels energetic, social, and grounded…

IPO heavily oversubscribed Raising over AED2bn Largest GCC listed REIT The order book for Dubai Holding’s first residential real estate investment trust (REIT) hit AED56 billion ($15 billion), with the initial public offering more than 26 times oversubscribed.  The final offer price was set at the top end of the price range at AED1.10 per unit, enabling the company to raise just over AED2 billion.  The investment conglomerate claimed the REIT is the “largest listed in the GCC”. The market capitalisation upon listing will stand at AED14.3 billion, offering a gross dividend yield of 7.7 percent for 2025.  This week, the…

Saudi Arabia has adopted a more strategic spending approach that blends fiscal discipline with bold investment in key Vision 2030 initiatives, according to Minister of Economy and Planning Faisal Alibrahim. The shift reflects the Kingdom’s broader commitment to economic diversification and long-term stability, moving away from reliance on oil revenues as the primary budget driver. Saudi Arabia remains well-positioned to navigate fluctuations in oil prices, thanks to its robust financial reserves and forward-looking planning, said Alibrahim. He noted that the Kingdom’s budget is no longer tethered solely to oil income, but is instead guided by national priorities within the energy…

40% of upfront costs paid Minimum investment $7m Japan leads Qatari FDI Qatar is offering $1 billion of incentives to encourage local and international business investment in the gas-rich Gulf state. Under the programme, Qatar will cover up to 40 percent of local expenses for five years, according to a statement on Wednesday. Business setup costs, construction, office leases, equipment and employee-related expenses can be claimed, Invest Qatar, a state body, said. The minimum investment required to access the fund’s capital will be QAR25 million, or around $7 million. There will also be job creation targets. Invest Qatar unveiled the…

Saudi Awwal Bank (SAB) has once again been named “Best Bank for ESG” in Saudi Arabia by Euromoney for the third consecutive year, reaffirming the bank’s leadership in driving sustainable finance and advancing ESG principles across the Kingdom’s banking sector.This prestigious recognition reflects SAB’s continued commitment to embedding environmental, social, and governance (ESG) values into its operations, reporting, and stakeholder engagement. The bank’s sustainability strategy focuses on creating long-term value while supporting Saudi Arabia’s Vision 2030 goals and the global sustainable development agenda.Tony Cripps, Managing Director & CEO of SAB, stated: “Receiving this award for the third consecutive year is…