NDMC closes August issuance of Sukuk
The bids received and total amount allocated reached SAR 5.313 billion each.
The Sukuk issuance was divided into four tranches. The first tranche, maturing in 2029, is valued at SAR 755 million.
The second matures in 2023 and amounts to SAR 465 million, while the third tranche, maturing in 2036, has a total size of SAR 1.12 billion. The last one has a total value of SAR 2.97 billion and matures in 2039.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Arabiya
21 minutes ago
- Al Arabiya
India test-fires ballistic missile ahead of US tariff hike
India on Wednesday test-fired an intermediate-range ballistic missile capable of carrying multiple nuclear warheads, a government statement said, in an apparent show of strength ahead of a threatened US tariff increase. The Agni-5 missile was successfully launched in India's eastern Odisha state, with authorities saying it 'validated all operational and technical parameters.' The test-fire came a week before US tariffs are set to double from 25 percent to 50 percent, unless India meets President Donald Trump's demand that it stop buying Russian oil. India last tested the Agni-5 missile in March 2024. Prime Minister Narendra Modi said this month that, in the face of US tariffs, India was seeking self-reliance with energy independence and the development of its own defense systems. New Delhi has deepened defense cooperation with Western countries in recent years, including in the Quad alliance with the United States, Japan and Australia as an apparent counter to rival China. But India's relations with China have warmed recently with several bilateral visits, and Modi is scheduled to visit Tianjin later this month in his first visit to the country since 2018. Agni, meaning 'fire' in Sanskrit, is the name given to a series of rockets India developed as part of a guided missile development project launched in 1983. The Agni-5 employs technology that enables it to carry several nuclear warheads, so they can split up and hit different targets.
Arab News
an hour ago
- Arab News
Shopping festival boosts Asir economy, tourism
RIYADH: The 26th Abha Shopping Festival is a key economic pillar of the Asir Summer Season, attracting visitors from near and far with a variety of commercial, cultural, and entertainment attractions. Its wide appeal highlights the festival's vital role in boosting economic activity and local demand, the Saudi Press Agency reported on Wednesday. The festival also provides targeted training programs for the region's youth, developing skills, and supplying qualified local talent to the labor market. It features five shopping halls offering a range of products, including household items, clothing, perfumes, sweets, and other essentials. Beyond commerce, the festival promotes tourism in the Asir region, blending economic activity with rich cultural experiences. Visitors can enjoy shopping along with artistic and folkloric performances, cultural evenings, entertainment shows, and a lively amusement park. These attractions enhance the region's reputation as a tourist destination, encouraging longer stays and increased spending, the SPA reported. This generates a positive economic cycle benefiting accommodation, restaurants, and transportation, while paving the way for new investments in tourism and commercial infrastructure. Pavilions representing India, China, the Philippines, Morocco, Pakistan, Egypt, Syria, Jordan, Kuwait, Kenya, and Senegal enrich the visitor experience, adding a global touch to the markets and products on display.
Arab News
2 hours ago
- Arab News
Saudi Arabia's Red Sea Global eyes IPO, REITs as resort openings gain pace
RIYADH: Saudi Arabia's Red Sea Global is considering a range of alternative financing options in the near future, including an initial public offering or converting assets into real estate investment trusts, according to its chief executive officer. Speaking to Al-Eqtisadiah, John Pagano said no final decisions have been made, but emphasized the company's focus on leveraging current momentum, with resorts now operational and more hotel openings expected this year. Shoura Island, the flagship of the Red Sea destination, will welcome guests this year at 11 luxury resorts operated by global hospitality brands, including Rosewood, Four Seasons, Grand Hyatt, EDITION, and Raffles. Construction at the wellness-focused Amaala project is also progressing rapidly, with core infrastructure complete and its first hotels nearing launch, Pagano said. Six resorts have opened under the Red Sea destination so far, including Desert Rock and Shebara, which are fully owned and operated by Red Sea Global. The exclusive Thuwal Private Retreat has also been unveiled as the company's third destination. Red Sea Global has also launched residential offerings on Shoura and Ummhat islands, in addition to announcing Lahak Island earlier this year, which drew strong local and international attention, he said. Amaala is set to open by year-end and will feature wellness and hospitality brands such as Jayasom, Six Senses, Rosewood, Equinox, and Clinique La Prairie. The destination aims to deliver experiences centered on healing, exploration, and renewal.
