萝莉视频

Saudi EXIM Bank targets African markets with 4 new MoUs聽

Saudi EXIM Bank targets African markets with 4 new MoUs聽
On the sidelines of the African Development Bank Group鈥檚 Annual Meetings, Saudi EXIM Bank CEO Saad Al-Khalb signed an MoU with Ravi Gupta, managing director of Blend International Ltd., aimed at exploring new commercial opportunities and strengthening global partnerships to support Saudi exports. SPA
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Updated 29 May 2025

Saudi EXIM Bank targets African markets with 4 new MoUs聽

Saudi EXIM Bank targets African markets with 4 new MoUs聽
  • Deals come as Saudi exports to Africa surged 20.6% year on year to SR7.84 billion in March
  • Saudi delegation held in-depth discussions with leaders of several international financial institution

RIYADH: 萝莉视频 is accelerating the expansion of its non-oil exports into African markets, with the Saudi Export-Import Bank securing four new strategic agreements to strengthen trade and investment ties across the continent.聽聽

Saudi Export-Import Bank CEO Saad bin Abdulaziz Al-Khalb signed memoranda of understanding with Africa50, the Ghana Export-Import Bank, Blend International Limited, and Guinea鈥檚 Ministry of Planning and International Cooperation, the Saudi Press Agency reported.聽聽

The deals were finalized on the sidelines of the African Development Bank Group鈥檚 annual meetings, held in Cote d鈥橧voire from May 26 to 30.聽

The newly signed deals come as Saudi exports to Africa surged 20.6 percent year on year to SR7.84 billion ($2.09 billion) in March 2025, reflecting growing trade ties between the Kingdom and the continent.聽聽

Al-Khalb said the bank鈥檚 participation in the meetings aims to deepen international trade relations and forge partnerships that support Saudi non-oil export growth in African markets.聽

The SPA report added: 鈥淗e stated that the memoranda of understanding are an extension of the bank鈥檚 efforts to promote trade exchange, stimulate development projects, and enable local exporters to export their services and products to African markets through effective and extended partnerships, contributing to supporting sustainable development goals and enhancing economic integration.鈥澛

He also described the gathering as a valuable opportunity to boost economic cooperation and engage with officials from export credit agencies and financial institutions across African countries.聽

The agreements were signed by Saudi EXIM CEO Saad bin Abdulaziz Al-Khalb, along with Alain Ebobisse, CEO of Africa50; Sylvester Mensah, CEO of the Ghana Export-Import Bank; Ravi Gupta, managing director of Blend International Limited; and Ismail Nabeh, minister of planning and international cooperation of Guinea.

The MoU with Africa50 is aimed at enhancing cooperation in infrastructure projects by partnering with Saudi companies. The agreement with the Ghana Export-Import Bank will focus on exploring cooperation opportunities and enhancing bilateral exports of services and products.聽

Meanwhile, the MoU with Blend International Limited is aimed at targeting broader trade opportunities and international partnerships. The deal with Guinea鈥檚 Ministry of Planning and International Cooperation seeks to bolster development projects and investment in priority sectors, enabling Saudi exports of engineering services and industrial supplies.聽

Also, on the sidelines of the event, Al-Khalb and his delegation held in-depth discussions with leaders of several international financial institutions, focusing on expanding trade ties and boosting the flow of Saudi non-oil exports into African markets.


Closing Bell: Saudi main index closes in red at 10,930

Closing Bell: Saudi main index closes in red at 10,930
Updated 07 August 2025

Closing Bell: Saudi main index closes in red at 10,930

Closing Bell: Saudi main index closes in red at 10,930
  • Parallel market Nomu dropped 60.93 points to close at 26,648.71
  • MSCI Tadawul Index lost 0.24% to reach 1,406.76

RIYADH: 萝莉视频鈥檚 Tadawul All Share Index declined on Thursday, losing 16.44 points, or 0.15 percent, to close at 10,930.30. 

The total trading turnover of the benchmark index stood at SR4.53 billion ($1.209 billion), with 120 listed stocks advancing and 128 declining. 

The Kingdom鈥檚 parallel market Nomu dropped by 60.93 points to close at 26,648.71.

The MSCI Tadawul Index also decreased, falling 0.24 percent to reach 1,406.76. 

The top performer on the main market was Bawan Co., whose share price rose 9.94 percent to SR58.60. 

The share price of Banan Real Estate Co. also rose 9.73 percent to SR4.96. 

Al Sagr Cooperative Insurance Co. saw its stock price increase by 5.76 percent to SR13.22. 

Abdullah Saad Mohammed Abo Moati for Bookstores Co. witnessed a drop in its share price by 4.83 percent to SR39.78. 

In corporate announcements, 萝莉视频n Mining Co., known as Ma鈥檃den, recorded a net profit of SR1.92 billion in the second quarter of the year, up 87.7 percent from SR1.02 billion in the same quarter of 2024.

The company attributed the sharp rise in quarterly profit to an SR1.34 billion increase in gross profit, driven by higher sales prices and volumes across the phosphate, aluminum, and gold business units.

Additional contributors included improved earnings from joint ventures and associates, reduced finance costs, and lower zakat, tax, and severance expenses.

National Gas and Industrialization Co. reported revenues of SR1.57 billion for the first half of 2025, marking a 16.9 percent rise from SR1.35 billion in the same period last year.

The revenue increase was largely driven by a SR227 million rise in gas sales, due to higher gas prices and volumes, according to the company鈥檚 financial report. Additional boosts came from increased sales of empty cylinders by SR6.5 million and other services by SR8.9 million. This came despite a SR14.4 million decline in commercial project revenues.

National Gas and Industrialization Co.鈥檚 share price climbed 0.92 percent to SR76.7. 

Obeikan Glass Co. posted a net profit of SR10.86 million in the second quarter, reflecting a 4.1 percent decline from SR11.33 million in the same period last year.

The company attributed the annual decline in net profit to a rise in raw material costs, which weighed on profitability despite higher selling prices.

Obeikan Glass Co.鈥檚 share price rose 0.44 percent to SR31.66.

Al Hammadi Holding reported a net profit of SR61.96 million in the second quarter, marking a 47.4 percent decline from SR117.87 million in the same quarter of 2024.

The company attributed the year-on-year drop in net profit to a one-off SR55.27 million gain realized in the second quarter of last year from the sale of a vacant land plot in Riyadh鈥檚 Al-Rayyan district.

Al Hammadi Holding鈥檚 share price fell 4.44 percent to SR34.88. 

Savola Group reported a net profit of SR105.7 million in the second quarter, down 21.9 percent from SR135.4 million in the same period last year.

The firm attributed the year-on-year decline in reported net profit primarily to the absence of a SR210.8 million share of profit from its previously distributed investment in Almarai and SR23.1 million in discontinued operations, which were recorded in the same period last year.

Savola Group鈥檚 share price decreased by 1.77 percent to SR24.4. 


Riyadh Air taps travel tech platform Amadeus for global distribution ahead of launch

Riyadh Air taps travel tech platform Amadeus for global distribution ahead of launch
Updated 07 August 2025

Riyadh Air taps travel tech platform Amadeus for global distribution ahead of launch

Riyadh Air taps travel tech platform Amadeus for global distribution ahead of launch

RIYADH: 萝莉视频鈥檚 Riyadh Air has signed a global distribution agreement with Amadeus to expand its international footprint, connecting to more than 190 travel markets ahead of its commercial launch. 

The deal links the Public Investment Fund-owned carrier to one of the world鈥檚 largest networks of travel sellers via the Amadeus Travel Platform, boosting its retail capabilities and global reach. 

The partnership is expected to support the Kingdom鈥檚 National Aviation Strategy, which targets doubling passenger capacity to 330 million annually from over 250 global destinations and increasing cargo handling to 4.5 million tonnes by the end of this decade. 

Announced in 2023 by Crown Prince Mohammed bin Salman, Riyadh Air is expected to contribute over $20 billion to the non-oil gross domestic product and create more than 200,000 direct and indirect jobs. 

In a statement, Vincent Coste, chief commercial officer of the airline, said: 鈥淧artnering with Amadeus gives us the global reach, distribution power, and retailing capabilities needed to support our goal of flying to over 100 destinations by 2030.鈥

He added: 鈥淭his partnership is not only about enabling seamless travel experiences, but also about contributing to the broader national vision of economic diversification, tourism growth, and enhanced global connectivity.鈥 

The agreement includes future distribution of Riyadh Air鈥檚 New Distribution Capability content, enabling the airline to offer more dynamic and personalized products. It will give Riyadh Air greater control over its indirect sales strategy as it builds toward full operations, according to a press release. 

鈥淎madeus brings not only global reach, but also advanced retailing, merchandising, and data-driven tools that will help Riyadh Air differentiate itself on the global stage,鈥 said Maher Koubaa, executive vice president of the travel unit and managing director for Europe, the Middle East, and Africa at Amadeus. 

He added: 鈥淲e are excited to support Riyadh Air鈥檚 contribution to Vision 2030 and the Kingdom鈥檚 aspirations to become a global tourism and travel leader.鈥 

Riyadh Air plans to launch a new international destination every two months once operations begin, as it prepares to take delivery of its first Boeing 787 Dreamliner, the airline鈥檚 CEO Tony Douglas told Bloomberg in June.

The carrier, which requires two aircraft to operate a round-trip route, is awaiting delivery of its initial jets to commence services.

Four Dreamliners are currently in various stages of assembly at Boeing鈥檚 facility in Charleston, South Carolina, with operations expected to begin once the first two are delivered. 

In addition to its Boeing orders, Riyadh Air announced at the Paris Air Show in June that it will purchase up to 50 Airbus A350 long-range aircraft, with deliveries expected to start in 2030.

The airline has also placed orders for 60 Airbus A321neo narrowbody jets and up to 72 Boeing 787s, including options.


Saudi Exchange proposes rule changes to expand access to Parallel Market聽

Saudi Exchange proposes rule changes to expand access to Parallel Market聽
Updated 07 August 2025

Saudi Exchange proposes rule changes to expand access to Parallel Market聽

Saudi Exchange proposes rule changes to expand access to Parallel Market聽

RIYADH: 萝莉视频鈥檚 stock exchange has proposed a set of rule changes aimed at broadening investor access to its Parallel Market, in a move that could further stimulate listings and deepen capital market activity. 

The Saudi Exchange Co., also known as Tadawul, published draft amendments to its exchange rules for public consultation, inviting feedback until Aug. 19, according to a statement. 

The proposed reforms target the definition of 鈥渜ualified investors,鈥 loosen listing requirements for the Parallel Market, known as Nomu, and align existing regulations with updates under the new Companies Law. 

The move is part of the exchange鈥檚 broader strategy to diversify funding channels and boost private sector participation in equity markets, in line with the country鈥檚 Vision 2030 economic transformation plan. 

In a statement, Tadawul stated: 鈥淭he amendments also include changes to the market value requirement for publicly held shares and the expected aggregate market value requirement as of the listing date for all shares to be listed on the Parallel Market.鈥 

It added: 鈥淔urthermore, the amendments also aim to align with the Capital Market Authority鈥檚 Regulations, as amended to implement the new Companies Law.鈥 

One of the key proposals includes creating a new classified category within the qualified investor definition for Nomu. The expanded eligibility would allow more institutional and individual investors to participate in the secondary market, which caters primarily to small and medium-sized enterprises. 

Under the revised rules, qualified investors in Nomu would include capital market institutions, investment funds, Gulf Cooperation Council companies, qualified foreign financial institutions, and certain high-net-worth individuals. 

Notably, the net worth threshold for individuals would remain at SR5 million ($1.33 million), but the minimum securities market activity could be reduced to SR30 million over the past year, down from SR40 million, which would lower the barrier to entry for active investors, the draft amendments document showed. 

The exchange has also proposed adjustments to the market capitalization and liquidity criteria for listings on Nomu. The minimum market value of publicly held shares at the time of listing could be reduced to SR30 million or 20 percent of the share class 鈥 whichever is less 鈥 while the minimum expected aggregate market value of all listed shares may be set at SR10 million for initial public offerings and SR100 million for direct listings, the document noted. 

The new rules also allow for lower thresholds to be approved by the Capital Market Authority if a company demonstrates sufficient investor demand and share liquidity. 

The proposed amendments aim to harmonize Tadawul鈥檚 rulebook with regulatory changes introduced under the updated Companies Law, particularly those related to corporate restructurings and listings following demergers or spin-offs. 

Definitions of terms such as 鈥淒emerger,鈥 鈥淪pin-Off,鈥 and 鈥淨ualified Investor鈥 have been revised to reflect these changes. 

The Saudi Exchange has opened a 14-day public consultation window, during which stakeholders can submit their feedback to the draft proposals via email. Final rule changes will be issued after review and approval by the CMA, the release added. 

The reforms come as 萝莉视频 continues to see a steady flow of listings on both the main market and Nomu, driven by favorable macroeconomic conditions and the government鈥檚 drive to deepen its capital markets. 

萝莉视频 accounted for 31 percent of the region鈥檚 total initial public offering proceeds in 2024, making it the second-largest contributor after the UAE. The Saudi Exchange hosted 14 IPOs on its main market, raising a total of $3.8 billion. Its parallel market saw 28 IPOs that collectively raised $297 million.


萝莉视频 hosts first regional deployment of OpenAI models through HUMAIN-Groq partnership

萝莉视频 hosts first regional deployment of OpenAI models through HUMAIN-Groq partnership
Updated 07 August 2025

萝莉视频 hosts first regional deployment of OpenAI models through HUMAIN-Groq partnership

萝莉视频 hosts first regional deployment of OpenAI models through HUMAIN-Groq partnership
  • Deployment will enable developers, researchers, and enterprises to access AI tools previously limited by infrastructure or compliance constraints
  • Groq CEO said partnership expands company鈥檚 reach into Middle East

RIYADH: 萝莉视频 has become the first country in the region to host OpenAI鈥檚 newly released publicly available models through a deployment announced by HUMAIN and Groq.

The gpt-oss-120B and gpt-oss-20B models are operated on Groq鈥檚 high-speed inference infrastructure located within HUMAIN鈥檚 sovereign data centers in the Kingdom. 

The move is part of broader efforts to localize advanced artificial intelligence infrastructure, aligning with national regulatory and data sovereignty requirements. 萝莉视频鈥檚 deployment of OpenAI鈥檚 open-source models within domestic infrastructure supports a wider strategy to diversify its economy and position itself as a key player in global AI.

Under Vision鈥2030, the Kingdom envisions a digital economy powered by AI, investing heavily in sovereign compute infrastructure to support emerging markets across Africa and Asia.

HUMAIN, a company backed by the Public Investment Fund, said the deployment will enable Saudi-based developers, researchers, and enterprises to access AI tools that were previously limited by infrastructure or compliance constraints. 

Groq, a US-based company specializing in AI inference hardware, provides a custom-built processing platform designed to deliver consistent, high-speed performance. 

HUMAIN CEO Tareq Amin described the development as a step forward in achieving technological self-reliance. 

鈥淲ith the deployment of OpenAI鈥檚 most powerful open models, hosted right here inside the Kingdom, Saudi developers, researchers, and enterprises now have direct access to the global frontier of AI 鈥 fully aligned with our national regulations and data laws,鈥 he said. 

The company claims that the gpt-oss-120B model operates at more than 500 tokens per second, while the gpt-oss-20B exceeds 1,000 tokens per second on its platform. 

The establishment of HUMAIN by PIF in May, backed by commitments from Nvidia, AMD, Cisco, and Amazon Web Services, illustrates this push, with multi鈥慴illion鈥慸ollar agreements to expand local AI compute capacity, data centers, and foundational models. 

The infrastructure is positioned as fully sovereign, meaning all data handling complies with Saudi regulations. 

This could be significant for organizations in the public and private sectors that require local hosting of data-intensive applications. The companies did not disclose commercial terms or usage projections. 

Groq CEO Jonathan Ross said the partnership expands the company鈥檚 reach into the Middle East. 

鈥淥ur partnership with HUMAIN gives us a powerful regional and globally central presence in one of the fastest-growing AI ecosystems on the planet,鈥 Ross said. 

The announcement builds on a partnership first disclosed in May and aligns with 萝莉视频鈥檚 national strategy to become a competitive player in global AI development. 

HUMAIN had previously stressed its ambition to develop AI capabilities across infrastructure, foundational models, and sector-specific applications. 


Fitch-rated sukuk surpasses $210bn as market expands 16%

Fitch-rated sukuk surpasses $210bn as market expands 16%
Updated 07 August 2025

Fitch-rated sukuk surpasses $210bn as market expands 16%

Fitch-rated sukuk surpasses $210bn as market expands 16%

RIYADH: The value of sukuk rated by Fitch Ratings exceeded $210 billion in the first half of 2025, marking a 16 percent increase from a year earlier, as demand for Shariah-compliant debt continues to accelerate across global markets. 

In its latest Islamic finance report, Fitch said that 80 percent of its rated sukuk maintain investment-grade status with no recorded defaults, highlighting the relative stability and creditworthiness of issuers despite tightening global financial conditions.

The US dollar remained the dominant issuance currency, accounting for over 90 percent of rated sukuk, followed by the Malaysian ringgit at 6.2 percent. 

Fitch currently rates more than 255 sukuk and 95 programs, representing over 70 percent of the outstanding global US dollar-denominated sukuk market. 

Earlier this month, a report by Kuwait Financial Center, also known as Markaz, echoed similar views, stating that US dollar-denominated instruments dominated the Gulf Cooperation Council debt market in the first half of 2025, raising $73.1 billion through 146 issuances 鈥 representing 79.4 percent of total value. 

Bashar Al-Natoor, global head of Islamic finance at Fitch Ratings, said: 鈥淢ost Fitch-rated sukuk rank senior unsecured and hold international long-term ratings with about 87 percent of sukuk issuers having a stable outlook.鈥 

He added: 鈥淥ver 90 percent of rated sukuk are US dollar-denominated and are largely characterised by bullet and fixed-rate structures. Medium-term sukuk with tenors between three to 10 years dominate, comprising over 81 percent of all rated sukuk.鈥 

Sukuk rated in the 鈥淎鈥 category made up the largest share at 39 percent, followed by 25 percent in the 鈥淏BB鈥 category and 13 percent in 鈥淏B.鈥  
 
Fitch also noted that 11 percent of all rated sukuk are considered long-term, with maturities exceeding 10 years, while only 7 percent have tenors shorter than three years. Most of these instruments are expected to mature by 2030. 
 
Environmental, social, and governance sukuk are also gaining traction, now accounting for 12 percent of all Fitch-rated sukuk outstanding, with a total value of $25 billion. 

Most ESG sukuk are dual-listed on major exchanges such as the London Stock Exchange, Nasdaq Dubai, and Euronext, reflecting their appeal to a broad international investor base. 

The analysis further highlighted increasing regional and sectoral diversification. The Middle East continues to lead with a 69.9 percent share of rated sukuk as of end of the first half, followed by Asia at 21.6 percent and Europe at 7.3 percent. 

Affirming the growth of the Middle East鈥檚 debt markets, Fitch noted in December that total outstanding debt in the GCC region surpassed the $1 trillion mark. 

Also in December, Kamco Invest projected that 萝莉视频 would lead the region in bond maturities over the next five years, with around $168 billion in Saudi bonds expected to mature between 2025 and 2029 鈥 underscoring the Kingdom鈥檚 growing prominence in regional debt markets. 

In its latest report, Fitch added that sovereign and supranational issuers still account for more than half of the rated sukuk market. However, issuer diversity is increasing, with sizeable contributions from financial institutions, corporates, international public finance, infrastructure and project finance, as well as structured finance.