Value of Saudi logistics sector to reach SR67.5bn by 2015

Value of Saudi logistics sector to reach SR67.5bn by 2015
Updated 11 January 2015

Value of Saudi logistics sector to reach SR67.5bn by 2015

Value of Saudi logistics sector to reach SR67.5bn by 2015

Saudi Arabia’s logistics sector is poised for further significant expansion in 2015.
According to industry experts, the value of the local industry is expected to reach SR67.5 billion during this year.
Saudi Arabia’s thriving sector is reflective of the entire GCC’s flourishing industry.
In 2013, GCC countries secured the biggest number of logistics contracts in the whole of the Middle East thanks largely to significant investments, high consumer spending and rapid economic growth.
For 2015, logistics sector in the GCC region is expected to achieve a 6.9 percent growth rate.
In line with the positive projections, Ramatan Exposition and Conference together with Riyadh Exhibitions Company (REC) are organizing the second Trans 4 Saudi Arabia Exhibition, a leading Saudi exhibition and forum for Railways, Metro, Stations, Buses, Contracting and Services, from Jan. 25 to Jan. 28, at the Riyadh International Convention and Exhibition Center (RICEC).
The event will showcase a wealth of current and future opportunities in the Kingdom and other GCC states. The show is a key initiative designed to help further the rapidly expanding local and regional sectors.
During the four-day event, an extensive array of the latest products, equipment, technologies, solutions and services from leading companies and biggest organizations will be put on display.
As the largest marketplace for transport, logistics and freight in the Kingdom, it will cover numerous areas including air freight, integrated transportation modes, courier services, air, land and sea transportation, combined transportation systems, electronic data interchange systems, Enterprise Resource Planning (ERP) systems, e-services, distribution services, free zone equipment and services, and insurance companies and services, among others.
The prestigious exhibition will serve as an ideal platform for industry peers to network with each other and explore business opportunities to boost the local and regional sectors.
It will also offer key government decision makers, transportation bodies, port authorities and industry professionals the opportunity to announce initiatives, formulate strategies, discuss up-to-the-minute case studies and exchange information on global best practices.


NCB plans to issue dollar-denominated sukuk

NCB plans to issue dollar-denominated sukuk
Updated 17 January 2021

NCB plans to issue dollar-denominated sukuk

NCB plans to issue dollar-denominated sukuk
  • The number and value of any sukuk to be offered will be determined based on market conditions
  • Offering of the sukuk will be limited to qualified investors, the bank said

National Commercial Bank (NCB) announced the intention of NCB Tier 1 Sukuk Ltd., an exempted company with limited liability in the Cayman Islands, to issue US dollar-denominated additional Tier-1 sukuk, the bank said in a statement to Tadawul today, Jan. 17.

NCB mandated Citigroup Global Markets Ltd., Emirates NBD Capital, Goldman Sachs International, J.P. Morgan Securities, MUFG Securities (EMEA), NCB Capital and Standard Chartered Bank as joint lead managers and bookrunners for the potential offer.

The potential offer aims to enhance the bank's Tier-1 capital, and in addition it will be used for general corporate purposes.

The number and value of any sukuk to be offered will be determined based on market conditions, the statement said.

The potential offer will be subject to approvals from the relevant regulatory authorities and will be made in accordance with the applicable laws and regulations.

Offering of the sukuk will be limited to qualified investors, the bank said, adding that any material developments will be announced in due course.