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Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

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The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.

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The record profit is subject to new 9% corporate tax for the first time.

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The company said this was a 54.9 percent YoY increase in net profit.

Saudi Arabia to issue second local sukuk for the year

  • The local issuance comes amid rising demand for both international and domestic fixed income markets that provide safe and guaranteed returns
  • Countries are resorting to fixed income instruments to settle budget obligations in a bid to fuel economic recovery

For the second time this year, the Saudi government will issue riyal-denominated sukuk for the year, seeking to take advantage of huge interest in the bonds.

The local issuance comes amid rising demand for both international and domestic fixed income markets that provide safe and guaranteed returns.

Countries are resorting to fixed income instruments to settle budget obligations in a bid to fuel economic recovery and ease pandemic repercussions.