The investment banking arm of Saudi Arabia's Al Rajhi Bank has received regulatory approval for its first mutual fund that will invest in sukuk (Islamic bonds), as demand for sharia-compliant debt rises in the Gulf's largest economy.
Al Rajhi Capital, one of the largest investment firms in Saudi Arabia, said it has successfully closed its second real estate income generating fund, with total equity of SR678 million ($180.7 million), surpassing the fund’s original targe
TickerChart, a provider of financial market tools and data solutions, has become the data feed supplier of choice for Al Rajhi Capital, a leading Saudi financial services company and the investment banking subsidiary of Al Rajhi Bank.
Saudi Arabia-based Savola Group has posted a net profit of SR308 million ($82.12 million) in the third quarter of the year, marking a nine per cent growth against the same period last year, said a report.
This raised the net profitability
Al Rajhi Capital, the investment banking subsidiary of Saudi Arabia's Al Rajhi Bank, has launched a new series of financial and investment seminars.
Commencing from today, they will be held at Al Rajhi Capital’s Investment Centers loca
The Saudi Arabian retail sector continues to be fuelled by favourable demographics, improving education and changing lifestyles, which will see the market reach SR276 billion ($74 billion) by 2014 from SR226 billion in 2009, said a report.
The Saudi economy continued its strong growth in the first half of this year, with the nominal GDP surging 24.1 per cent to SR798.5 billion ($212.9 billion) from SR643.3 billion during the same period last year, a report said.
The high gro
The introduction of more liquid products and development of the insurance sector will help drive growth of the asset management industry in Saudi Arabia, an executive at investment firm Al Rajhi Capital said.
Gaurav Shah, head of asset man
The Saudi economy is set to register a healthy 3.9 per cent growth rate this year with a budget surplus of SR40 billion ($10.6 billion) against a projected deficit of SR70 billion ($18.7 billion), according to a report by Al Rajhi C