Company Insights Banque Saudi Fransi Banking & Finance Banque Saudi Fransi News Analysis Banking & Finance Investors snub Saudi’s lacklustre bank stocks Saudi Arabia’s banking stocks have suffered a sustained slump despite lenders reporting steady earnings. Experts believe they are unlikely to rebound in the near term as investors target higher-growth industries instead. Banking is one of three heavyweight sectors on the kingdom’s bourse, along with energy and materials, the latter including petrochemical manufacturers. To Tuesday’s close, […] September 13, 2023 Finance Seera auto rental unit to float 30% on Tadawul Saudi Arabian travel company Seera Group Holding’s wholly-owned auto rental subsidiary plans to list 30 percent of its issued share capital on the Saudi Exchange (Tadawul). Car rental company Lumi expects to issue 16.5 million shares, with the listing taking place following regulatory approvals, the company said in its prospectus. Saudi Fransi Capital has been […] August 25, 2023 Energy Two Saudi solar projects secure $2.4bn funding A consortium led by Acwa Power has secured financial funding worth $2.37 billion for two solar projects, as Saudi Arabia looks to ramp up its renewable energy sector by the end of the decade. The Al Shuaibah 1 and Al Shuaibah 2 solar photovoltaic projects are expected to generate over 2.6 GW of clean electricity […] August 21, 2023 Construction Red Sea Global secures $288m funding for Jumeirah project Red Sea Global (RSG) has secured $288 million in funding as part of a joint venture with Almutlaq Real Estate Investment Co. (AREIC) to develop Jumeirah The Red Sea on the west coast of Saudi Arabia. Gulf International Bank Saudi Arabia (GIB) provided the green financing, the developer said in a statement. “Achieving commercial close […] January 25, 2023 Banking & Finance Saudi firms partner to boost SME involvement in supply chains Banque Saudi Fransi has formed a tie-up with Saudi Aramco-backed fintech firm Lamaa pledging to develop products and services to aid supply chain management and cut costs. Under a memorandum of understanding signed on Wednesday, the two companies agreed to collaborate to develop, evaluate and launch “supply chain solutions” that will streamline the process for […] December 7, 2022 Banking & Finance Saudi’s cashless revolution well underway as investments soar Saudi Arabia’s digital payments revolution is gathering pace with point-of-sale transactions surpassing ATM cash withdrawals for the first time in the second quarter of 2022. The kingdom’s transformation into a cashless economy resulted in point-of-sale (PoS) transactions rising 16.6 percent annually in Q2 to $36.7 billion, described by the Saudi Ministry of Investment (MISA) as […] August 8, 2022 Exclusive Banking & Finance NEOM’s IPO plans welcomed by global wealth funds The Saudi Exchange inched upwards in trading today, following positive reaction to plans by the crown prince to list all companies linked to the sovereign wealth fund in the coming years, part of a wider strategy to turn Tadawul into one of the top stock markets in the world. Saudi crown prince Mohammed bin Salman […] July 26, 2022 Posts navigation Previous 1 2
Analysis Banking & Finance Investors snub Saudi’s lacklustre bank stocks Saudi Arabia’s banking stocks have suffered a sustained slump despite lenders reporting steady earnings. Experts believe they are unlikely to rebound in the near term as investors target higher-growth industries instead. Banking is one of three heavyweight sectors on the kingdom’s bourse, along with energy and materials, the latter including petrochemical manufacturers. To Tuesday’s close, […] September 13, 2023
Finance Seera auto rental unit to float 30% on Tadawul Saudi Arabian travel company Seera Group Holding’s wholly-owned auto rental subsidiary plans to list 30 percent of its issued share capital on the Saudi Exchange (Tadawul). Car rental company Lumi expects to issue 16.5 million shares, with the listing taking place following regulatory approvals, the company said in its prospectus. Saudi Fransi Capital has been […] August 25, 2023
Energy Two Saudi solar projects secure $2.4bn funding A consortium led by Acwa Power has secured financial funding worth $2.37 billion for two solar projects, as Saudi Arabia looks to ramp up its renewable energy sector by the end of the decade. The Al Shuaibah 1 and Al Shuaibah 2 solar photovoltaic projects are expected to generate over 2.6 GW of clean electricity […] August 21, 2023
Construction Red Sea Global secures $288m funding for Jumeirah project Red Sea Global (RSG) has secured $288 million in funding as part of a joint venture with Almutlaq Real Estate Investment Co. (AREIC) to develop Jumeirah The Red Sea on the west coast of Saudi Arabia. Gulf International Bank Saudi Arabia (GIB) provided the green financing, the developer said in a statement. “Achieving commercial close […] January 25, 2023
Banking & Finance Saudi firms partner to boost SME involvement in supply chains Banque Saudi Fransi has formed a tie-up with Saudi Aramco-backed fintech firm Lamaa pledging to develop products and services to aid supply chain management and cut costs. Under a memorandum of understanding signed on Wednesday, the two companies agreed to collaborate to develop, evaluate and launch “supply chain solutions” that will streamline the process for […] December 7, 2022
Banking & Finance Saudi’s cashless revolution well underway as investments soar Saudi Arabia’s digital payments revolution is gathering pace with point-of-sale transactions surpassing ATM cash withdrawals for the first time in the second quarter of 2022. The kingdom’s transformation into a cashless economy resulted in point-of-sale (PoS) transactions rising 16.6 percent annually in Q2 to $36.7 billion, described by the Saudi Ministry of Investment (MISA) as […] August 8, 2022
Exclusive Banking & Finance NEOM’s IPO plans welcomed by global wealth funds The Saudi Exchange inched upwards in trading today, following positive reaction to plans by the crown prince to list all companies linked to the sovereign wealth fund in the coming years, part of a wider strategy to turn Tadawul into one of the top stock markets in the world. Saudi crown prince Mohammed bin Salman […] July 26, 2022