Sidra Mutajara Fund distributes Q4 dividends

Hani Baothman, vice chairman of Sidra Capital.
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Updated 25 March 2020

Sidra Mutajara Fund distributes Q4 dividends

Sidra Capital has announced the Q4 dividends for its CMA-licensed US dollar Sidra Mutajara Fund, with total returns for 2019 amounting to 6 percent.
“Our $35 million Mutajara Fund invests mainly in trade finance contracts with the goal of generating sustainable, above benchmark returns. Offering higher returns than US deposit rates, which were around 1.25 percent during 2019, it represents an outstanding proposition for investors,” said Hani Baothman, vice chairman of Sidra Capital. “In addition, it provides investors with quarterly distributions and the option of liquidity through the quarterly exit feature.”
Sidra Capital is a CMA-regulated asset manager that specializes in alternative investments. Established in 2009 and headquartered in Saudi Arabia, the company focuses on real estate investment and Shariah-compliant private finance strategies.


Lulu initiates faster delivery in KSA, partners with various food delivery apps

Updated 30 March 2020

Lulu initiates faster delivery in KSA, partners with various food delivery apps

RIYADH: LuLu, the region’s top retailer, joined hands with various delivery partners to further widen the reach and speed up its online grocery delivery, in view of the current curfew restrictions all the over the country to combat corona virus.

As part of the new initiative, shoppers can now order their groceries through popular apps, such as Hunger Station, To you, Careem now and Wasel. LuLu has created an exclusive list of essentials and daily groceries from which shoppers can order for speedy deliveries at their doorsteps.

Commenting on the new initiatives, Shehim Mohammed, Director of LuLu Hypermarkets in Saudi Arabia, said: “In wake of the current pandemic, we are exploring all possible avenues to ensure that residents in the Kingdom get their orders as quickly as possible. Apart from the food delivery apps, we have also tied up with Aramex, Samsa and many rent-a-car companies to expedite the delivery of online shopping orders.”

Hunger Station and To You has gone live with LuLu groceries on 29th March and others will be up and running in the next couple of days as confirmed by the authorities.

“We are fully aware of our responsibilities as a leading retailer and have ensured that our stores and warehouses are well stocked. We are working very closely with government authorities, suppliers and logistics partners to ensure uninterrupted and sustained supplies while maintaining the highest standards of hygiene, health and safety. We thank all our shoppers for their support and urge them to remain calm and stable, as there is absolutely no need for any anxiety or panic,” added Shehim Mohammed.