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Top related persons:
Aziz El Yaakoubi - 1 Jane Merriman - 1 ADES - 1 EFG Hermes - 1 Goldman Sachs - 1 Lazard - 1 Yousef Saba - 1 Sonia Cheema - 1
Top related locs:
Saudi RIYADH Saudi Arabia Riyadh Al Rajhi DUBAI Khobar ADES
Top related orgs:
Al - 2 Thomson - 2 Saudi Aramco - 1 Saudi Exchange - 1 Kuwait Oil Company - 1 North Oil Company - 1 SNB - 1 JPMorgan - 1

Search resuls for: "Al Rajhi Capital"


3 mentions found


☆ Saudi Arabia to tap international debt markets as deficits return
  + stars: | 2023-10-01 | by ( Aziz El Yaakoubi Pesha Magid | Aziz El Yaakoubi | Pesha Magid | ) www.reuters.com   time to read: +2 min
RIYADH, Oct 1 (Reuters) - Saudi Arabia is expected to tap the international debt markets to finance a projected budget deficit in 2023-2024, the finance ministry said, against a backdrop of lower oil prices and the country's extended oil production cuts. Both deficits are estimated at 161 billion riyals ($43 billion). Saudi Arabia is working to prepare an annual borrowing plan in accordance with a medium-term debt strategy and "access global debt markets to enhance the kingdom's position in international markets", the finance ministry said. This has pushed total revenue estimates for 2023 up to 1,180 billion riyals from an earlier projection of 1,130 billion riyals, the finance ministry said. Meanwhile, total expenditure is seen rising to 1,262 billion riyals in 2023, from an earlier estimate of 1,114 billion riyals, before slowing down marginally to 1,251 billion riyals in 2024.
Persons: Aziz El Yaakoubi, Jane Merriman Organizations: Saudi Aramco, Al, Thomson Locations: RIYADH, Saudi Arabia, Riyadh, Saudi, Al Rajhi
☆ Saudi PIF-backed ADES prices IPO at top end, implying over $4 bln valuation
  + stars: | 2023-09-20 | by ( ) www.reuters.com   time to read: +2 min
DUBAI, Sept 20 (Reuters) - Saudi oil and gas driller ADES Holding said on Wednesday it has set the final price for its initial public offering (IPO), implying a valuation of 15.242 billion riyals ($4.06 billion) for the Saudi sovereign wealth fund-backed firm. ADES confirmed the pricing for the IPO, saying it drew nearly $76.5 billion in orders from institutional investors. Its clients include state oil giant Saudi Aramco, Kuwait Oil Company and North Oil Company in Qatar. The four banks are also bookrunners and underwriters, joined by GIB Capital, HSBC, Al Rajhi Capital and Saudi Fransi Capital. Arab National Bank, Alrajhi Bank and Saudi National Bank are the receiving agents and Lazard is independent adviser to ADES.
Persons: ADES, EFG Hermes, Goldman Sachs, Lazard, Yousef Saba, Sonia Cheema Organizations: Reuters, Saudi Exchange, Kuwait Oil Company, North Oil Company, SNB, JPMorgan, underwriters, GIB Capital, HSBC, Al, Saudi Fransi Capital, Arab National Bank, Alrajhi Bank, Saudi National Bank, Thomson Locations: DUBAI, Saudi, Khobar, ADES, East, North Africa, India, Saudi Aramco, Qatar, Al Rajhi Capital
☆ Saudi Arabia expects narrower 2023 surplus as uncertainty clouds oil outlook
  + stars: | 2022-12-07 | by ( Rachna Uppal Aziz El Yaakoubi Yousef Saba | Rachna Uppal | Aziz El Yaakoubi | ) www.reuters.com   time to read: +5 min
RIYADH, Dec 7 (Reuters) - Saudi Arabia expects to post a second consecutive budget surplus in 2023, though down 84% from this year as an uncertain global economic outlook and lower crude prices look set to weigh on the top oil exporter's revenues. Spending is slightly lower than 1.132 trillion riyals this year. Revenues are expected at 1.13 trillion riyals, down from 1.234 trillion riyals in 2022 as oil prices are seen falling from this year's high levels. Public debt is seen falling 3.5% to 951 billion riyals next year, or 24.6% of GDP. Government reserves at the Saudi Central Bank are estimated to reach 399 billion riyals at the end of next year, the finance ministry said.
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