Amateurs Afzaal Ahmad, Parvez Ahmed, and Arbaaz Ahmad shine with an Impressive 89-point performance at the Emirates Golf Club
Chief Executive Ali bin Saleh Al Barrak said the company will decide on its borrowing needs in April, according to Tuesday’s edition of Al Watan. The newspaper did not give more details.
A company executive, who declined to be identified, told Reuters the value of the sales may range between 11 billion and 15 billion riyals, with the first scheduled for the second-half of this year.
‘We plan to issue sukuk worth 10 percent of the investment needed for the next ten years,’ the official in Riyadh said. ‘We have not decided yet on the number of tranches but they should not exceed five as they will have maturities of 5-10 years,’ he said, without giving details.
Islamic bonds are typically backed by physical assets that pay a dividend or rent to bondholders rather than interest, which Islam in equates with usury.
State-controlled SEC said in January it planned to invest 15.8 billion riyals this year to boost power generation, transmission and distribution capacity, including adding 1,609 megawatts of generating capacity by 2008.
Barrak has estimated that at least 150 billion riyals of investment is needed during the next decade to cope with rising demand for electricity in the world’s top oil exporter, which has a population of about 24 million.
Amateurs Afzaal Ahmad, Parvez Ahmed, and Arbaaz Ahmad shine with an Impressive 89-point performance at the Emirates Golf Club
The Meteorological Organisation that it is closely monitoring what is being circulated on social media
There have been a series of school fires in the country in recent years, many of them which have turned out to be arson
Salama Alfalacy is into realistic art featuring landscapes and wildlife, while Meera Jamal Al Midfa is setting new grounds in performance art and filmmaking
Dubai Police have asked drivers to be extra cautious
The storm had already claimed the lives of at least two people in China's Hainan and 16 people in the Philippines
Dubai Police have asked drivers to be extra cautious
The former all-rounder has returned to cricket during the past year after a horrific car crash at the end of 2022