Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Company News, Business

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Masdar issues $1bn bond

Its green bond program hits $2.75 billion.

Care secures $93.3m Murabaha facility

By Hilal Mir
September 10, 2023 7:37 pm
  • Care said the facility comprises SAR 100m revolving loan to be renewed periodically, and a SAR 250m long-term loan for a period of 10 years with a grace period of one year.
  • The facility will be used to finance the company’s working capital requirements and support its strategy via expansion and acquisitions.

Riyadh, Saudi Arabia — National Medical Care Company has obtained a Shariah-compliant long-term Murabaha facility at SAR 350 million ($93.3 million) from the Gulf International Bank (GIB).

In a Tadawul statement, Care said the facility comprises SAR 100 million revolving loan to be renewed periodically, and a SAR 250 million long-term loan for a period of 10 years with a grace period of one year, according to Argaam.

The financing facility was guaranteed by a promissory note to GIB.

The facility will be used to finance the company’s working capital requirements and support its strategy via expansion and acquisitions.

The deal included no related parties, the statement added.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]