INSEAD Day 4 - 728x90

Business, Company News, Economy, Markets

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Salik profit slips in H1

The company said traffic recovery supported resilience.

Alpha Dhabi profit jumps 48%

AI and technology investments boost earnings.

Agthia profit, dividend jump

Transformation lifts earnings, cash generation.

2PointZero reports strong H1

Expansion drives earnings, revenue growth.

Dar Al Arkan issues sukuk of $600m

The issuance received great interest from participants in the regional and international markets. (Twitter)
By TRENDS Desk
July 19, 2023 3:53 pm
  • The maturity period is of five years at a profit rate of 8 percent annually.
  • The issuance order book reached US$1.64 billion (SAR 6.15 billion).

RIYADH, SAUDI ARABIA – Dar Al Arkan Real Estate Development Co. announced on Wednesday the successful closing of its 13th issuance of Islamic Sukuk.

This issuance is the ninth tranche of the Islamic Sukuk program denominated in US dollars, with a value of US$600 million (SAR 2.25 billion). 

The order book for the sukuk was opened on Tuesday and closed on the same day, the company said in a statement to Tadawul.

Dar Al Arkan said that the maturity period is over a period of five years at a profit rate of 8 percent annually.

The issuance order book reached US$1.64 billion (SAR 6.15 billion).

[adinserter block="5"]

Most Read

Environment Agency – Abu Dhabi issues marine water quality policy

ABU DHABI,  UAE – The Environment Agency – Abu Dhabi (EAD) has issued a policy on sustaining marine water quality that reviews the current situation and main challenges related to…

Energy, commodity prices hurt profits of GCC firms

GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived.

Exclusive: Private military companies look at $366.8bn market as their demand, role in global conflicts rise

Rising security concerns, confrontational geopolitics, and chaotic global changes have fueled the demand for private military companies, the new reality of modern warfare.

NYU Abu Dhabi team develops wireless pill to control gut neurons

Abu Dhabi, UAE — Researchers at NYU Abu Dhabi (NYUAD) have developed an ingestible device that uses light to activate neurons in the gut. This new technology, called ICOPS (Ingestible…

The future of wellness hospitality: From short escapes to lifelong longevity

In recent years, wellness travel has evolved from a niche pursuit to one of the most dynamic sectors in global tourism. What began as an occasional escape from stress has…

INSEAD Day 4- 300x600
INSEAD Day 4- 300x600
[adinserter block="4"]