NEWS

Brazil may adopt Bitcoin as legal tender soon: Market wrap

Author: Wed, 2021-10-06 23:19 RIYADH: Bitcoin traded higher on Wednesday, rising by 9.26 percent to $54,660.56 at 6:34 p.m. Riyadh time. Ether also made gains and traded at $3,608.02, up 5.07 percent, according to data from CoinDesk. Legalization Aureo Ribeiro, a federal deputy in...

Oil retreats from multiyear highs after US stock build

Author: Wed, 2021-10-06 23:35 NEW YORK: Oil prices dropped nearly 2 percent on Wednesday after hitting a multiyear highs, as an unexpected rise in US crude inventories prompted buyers to take a breather after recent torrid gains. The latest surge in the crude...

Saudi sukuk market sees four special deals worth $15m

Author: Wed, 2021-10-06 17:11 RIYADH: Four special deals were completed today in the Saudi sukuk and bond market, with a total value of SR56.17 million ($14.9 million), Argaam reported. Special deals are orders executed when a seller and a buyer agree to trade specific securities...

Number of Saudis seeking property ownership ‘exceeding expectations’: REGA Governor

Author: Wed, 2021-10-06 17:49 RIYADH: Requests for property ownership in Saudi Arabia exceeded expectations, with about half a million requests being received on Ehkaam electronic platform so far, Real Estate General Authority (REGA) Governor, Ihsan Bafakih revealed today. Ehkaam is an electronic platform launched by...

Saudi Aramco Entrepreneurship Center to double startup investments in next 2-3 years

Wed, 2021-10-06 17:35 JEDDAH: Over 600 startup applications have been received for Wa’ed, Saudi Aramco Entrepreneurship Center, roadshows in different cities of the Kingdom. Following the first and second roadshows, the third one took place in Jeddah in partnership with King...

Saudi Energy Ministry aims to boost sector’s contribution to GDP through localization of services

Wed, 2021-10-06 18:06 RIYADH: Saudi Energy Minister Prince Abdulaziz bin Salman on Wednesday inaugurated an energy project constructed by Siemens Energy in Dammam. The facility is the largest of its kind in the region and it will serve as an integrated...

Saudi stock market exchange plans a $4bn stake sale in an IPO: Bloomberg

Wed, 2021-10-06 19:40 RIYADH: Saudi Arabia stock market exchange is planing selling shares to the public with a value of $4 billion, Bloomberg reported citing sources it didn't name. Tadawul, as the exchange is known, will release information on the IPO...

UAE starts selling first federal government dollar bonds

Author: Wed, 2021-10-06 13:55 The United Arab Emirates marketed a triple-tranche U.S. dollar-denominated bond on Wednesday, the first issued by the federal government rather than individual emirates, in a sale to be concluded the same day, a document showed. The bonds have...

Hitachi ABB wins contract in Saudi-Egypt power interconnection project

Author: Wed, 2021-10-06 13:50 RIYADH: Japanese Hitachi ABB Power Grids is leading a consortium that has been awarded a major contract in the power interconnection project signed between Saudi Arabia and Egypt. The project, to begin in 2022, will ensure an exchange...

Saudi EXIM helps businesses export to 50 countries with financing worth $2.3bn 

Wed, 2021-10-06 14:13 RIYADH: Saudi Arabia's Export-Import Bank (EXIM) helped businesses export to 50 countries by the end of September, with food, iron and steel, and plastics products leading the way. EXIM announced it had approved 89 finance requests — up from 81...
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