Cement sector

Sinom Center Secures 2.23 Billion Riyal maintenance & Hygiene Contract

RIYADH -‌ Sinom Centre has announced the​ approval of amendments to its Board of Directors’ policies, committees, and ‍executive management guidelines, alongside⁢ a significant contract award.The company confirmed a general agreement for maintenance⁤ and hygiene services across its commercial complexes, valued at 2.23 billion Saudi Riyals.

This substantial agreement underscores Sinom Centre’s commitment to maintaining ​high operational ​standards within its ⁢properties and represents a major financial undertaking for ⁣the company.The contract impacts stakeholders including investors,tenants,and service providers,and signals continued‌ investment in the upkeep and appeal of Sinom Centre’s portfolio. The amendments to governance policies, approved concurrently, aim to strengthen the company’s operational framework and ensure responsible management of⁣ these significant assets.

The company disclosed the approval of these changes and the contract award in a recent statement to the saudi Stock Exchange (Tadawul). The revised policies‍ encompass the Board of Directors, its associated ⁤committees, and the executive management team,‌ alongside an ‍updated governance guide.

Further details⁤ regarding the specific terms of the ‍maintenance and hygiene contract, including⁢ the duration and scope of services, were not promptly available. However,the scale of the 2.23 ⁣billion riyal agreement indicates a comprehensive and long-term commitment to property maintenance.

https://www.argaam.com/ar/company/disclosure/sectionid/245/marketid/3/pageno

Washington D.C. – A debate is intensifying over the potential⁣ for lowering interest rates to alleviate pressure on the U.S.federal deficit, with President Donald Trump publicly advocating for reductions and ‌economists cautioning against risks to the Federal Reserve‘s independence. While lower rates‌ coudl⁤ offer some short-term savings,‌ experts say their overall impact on the national debt is highly likely to be limited due to​ the structure of federal borrowing.

The national debt currently stands at over $34 trillion, and servicing that debt-the cost of paying interest-is a importent and growing portion of the federal budget. president Trump has argued that⁤ reducing interest rates is a direct path‌ to lowering these debt ​service costs, recently ​suggesting potential⁢ savings of $900 billion annually with a 3 percentage point reduction. However, this estimate‍ has been met with skepticism.

Economists warn that politically motivated pressure on the Federal Reserve to lower interest rates could backfire. A loss ⁢of investor confidence in the central bank’s independence could lead to increased long-term interest rates, ultimately ⁣ increasing the cost of borrowing for the government. The federal Reserve operates ‍independently to maintain price stability and full employment, and⁢ interference could undermine that mandate.

A key factor limiting the impact of interest rate reductions is ⁢the composition of federal debt. The majority of​ U.S. government borrowing is done through long-term bonds. While lower rates would affect ‍short-term ⁣debt⁣ instruments, the savings on the larger ‍portion of long-term debt would be less ample. Thus, even⁢ significant rate ‌cuts may not translate into dramatic ​reductions in the overall federal deficit.

The debate highlights the complex interplay between monetary policy, fiscal policy, and ​the national ⁣debt, and underscores the challenges in addressing the long-term fiscal health of the United States.

Source: Wall Street Journal.

Market ​Authority Approves ​Sinom‌ Centres’ Plan for Up to 3.75 Billion Riyal​ Islamic​ Bond Offering

RIYADH ⁤ – The ⁣Market Authority has granted approval for Arab Centers Company – Sinom ‌Centre to proceed wiht the issuance and launch of islamic‍ Sharia-compliant‌ financial instruments valued at up ‍to 3.75 billion riyals,the authority announced ‍today. The approval, valid for six months from‍ the date of the Commission’s Council decision, is⁤ contingent upon the completion ‍of the initial issuance of debt ‍instruments within that timeframe.

The Market Authority emphasized that investor caution ⁢is‍ paramount. “The subscription‌ decision without seeing the⁢ release bulletin ‌and studying its⁢ content may involve high⁤ risks,”‍ a spokesperson stated. Investors are ⁣urged to thoroughly review the‌ release​ bulletin, which details information regarding the​ source, deductions, ​and​ associated risk factors, to assess the viability of investing in the offering. Consultation with a licensed ⁣financial advisor is recommended if the⁤ bulletin’s contents ⁢are unclear.

The authority clarified that its approval ⁢signifies adherence to regulatory requirements within ‌the financial market system and its executive​ regulations, but should not⁤ be interpreted as an ‍endorsement of​ the ⁢investment’s feasibility or the underlying source.

According to data​ presented to shareholders, an unusual general⁢ assembly of arab Centers Company – Sinom Centre approved the delegation to issue these instruments last March.The issuance may occur through local or international ‌special offerings, self-reliant sukuk⁤ issuances, or the establishment of a comprehensive instrument program, possibly encompassing multiple tranches. The Board⁣ of Directors retains discretion ‍to determine the currency equivalent of the 3.75 billion riyal amount.

Zain KSA Secures⁣ $1.47‌ Billion Murabaha ‌Facility to Fuel Growth

Riyadh – Zain Saudi Arabia has finalized a 5.5 billion riyal ($1.47⁢ billion) Murabaha facility agreement with a consortium of local⁢ banks, the ​company announced today. ​The‌ financing will be utilized to‍ refinance existing debt and support the company’s operational and ⁢investment needs over the next five​ years.

This substantial financial commitment underscores confidence in Zain KSA’s financial stability ​and growth trajectory within Saudi Arabia’s rapidly evolving telecommunications market. The new facilities,effective September⁢ 30,2025,offer improved terms compared⁤ to previous ‍arrangements and will play a crucial role in enabling Zain KSA to continue⁣ expanding its 5G network,enhancing customer ‌experience,and driving digital transformation initiatives. The agreement impacts‌ investors, customers, and⁣ the‍ broader Saudi economy through continued infrastructure development and service innovation.

The financing ‌package includes​ the immediate disbursement of 500 million riyals to cover existing city receivable financing facilities due on September 30, 2025. An additional 300‍ million riyals will be drawn down​ as needed to meet the company’s ongoing operational and investment​ requirements. ⁣

The remaining funds⁤ will be available over the five-year term of the facility, which includes a⁢ one-year grace period, ​with final repayment scheduled for September ​30,‌ 2030. The agreement is secured by a bond of order.

“These long-term⁢ facilities came after detailed and⁣ constructive discussions with banks, which reflects the confidence of the financial institutions in the company’s financial position, its⁣ credit worth and its ability‌ to fulfill its financial obligations,”​ a company statement read.The improved ‌trade conditions offered by the new agreement‍ are⁢ expected to positively impact Zain KSA’s financial performance ⁢and strengthen its competitive position in the Saudi⁤ market.