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Company News, Business

Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

SEC to raise $2bn from sukuk

Gross profit for the period reached $4.16 billion.
By Hilal Mir
April 4, 2023 6:59 pm
  • The firm offered a total of 10,000 bonds in the 10-year green sukuk tranche of $1.2 billion and a 30-year conventional tranche of $800 million.
  • The sukuk offering was made under the company’s newly established international sukuk program. Reportedly, the two tranches drew more than $15 billion in demand.

Dubai, UAE — Saudi Electricity Company has wrapped up the $2-billion dollar-denominated green and conventional sukuk.

The company, majority owned by the kingdom’s sovereign wealth fund, PIF, Monday announced a 10-year green sukuk tranche of $1.2 billion and a 30-year conventional tranche of $800 million, offering a total of 10,000 bonds for a fixed profit rate of 4.6 percent for the 10-year tranche and 5.6 percent for the 30-year tranche.

The sukuk offering was made under the company’s newly established international sukuk program. Reportedly, the two tranches drew more than $15 billion in demand.

In a Tadwaul disclosure, SEC said the issuance will be listed on the London Stock Exchange.

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