��������

RIYADH: Saudi Aramco has launched a new international sukuk offering, with a minimum subscription of $200,000, as the state oil giant seeks to re-tap global debt markets. 

The sukuk, issued under SA Global Sukuk Ltd.’s Trust Certificate Issuance Program, will be dollar-denominated and constitute direct, unsubordinated, unsecured, and limited-recourse obligations, according to a filing on the Saudi Exchange. 

The subscription period runs from Sept. 10-17, with the size, pricing, maturity, and return to be set subject to market conditions. Investors may participate in increments of $1,000 beyond the $200,000 minimum.

Aramco plans to use proceeds for general corporate purposes, in line with its broader strategy of sustaining financial flexibility and operational efficiency. The securities are aimed at qualified institutional investors in the jurisdictions where they are marketed. 

The sale comes after the company filed a fresh sukuk prospectus with the London Stock Exchange in May, giving it time to tap markets. That move followed a $5 billion three-part conventional bond deal earlier this year. 

According to the filing, Al-Rajhi Capital, Citi, Dubai Islamic Bank, and First Abu Dhabi Bank are acting as active joint bookrunners, alongside Goldman Sachs, HSBC, J.P. Morgan, KFH Capital, and Standard Chartered. 

The passive bookrunners are Abu Dhabi Commercial Bank, Albilad Capital, and Alinma Capital, together with Bank of China, Emirates NBD Capital, Mizuho, MUFG, Sharjah Islamic Bank, and SMBC. 

The filing said the targeted class of investors refers to institutions, specifically qualified investors in jurisdictions where the offering is made, in accordance with local regulations. This framework ensures the sukuk complies with both international standards and Shariah principles while remaining accessible only to large-scale market participants. 

The latest issuance comes less than a year after Aramco raised $3 billion through a two-tranche sukuk in October, which drew six times oversubscription. That sale included a $1.5 billion tranche due in 2029 at 4.25 percent and another $1.5 billion tranche due 2034 at 4.75 percent. 

Aramco, the world’s biggest oil exporter, has been returning to global debt markets to diversify funding, expand its investor base, and re-establish a sukuk yield curve, marking its first such steps since 2021. 

The latest offering is expected to further expand Aramco’s investor base and strengthen its sukuk yield curve. 

RIYADH: ��������’s point-of-sale spending reached SR14.94 billion ($3.98 billion) in the week ending Sept. 6, driven by steady demand for food and beverages, official data showed.

According to the latest figures issued by the Saudi Central Bank, also known as SAMA, POS activity in the food and beverages category stood at SR2.26 billion, down 1.8 percent week on week, but remained the single largest driver of overall spending. 

The total value of POS transactions fell 5.4 percent from the previous week, largely due to a 39.2 percent decline in education-related spending. 

SAMA reported that the total number of POS transactions climbed 2.3 percent to 242.49 million. 

The rising number of POS transactions in �������� highlights sustained consumer confidence and the ongoing shift toward digital payments, underpinned by the Kingdom’s Vision 2030 reform agenda. 

The push marks a key milestone in the country’s cashless economy ambitions under the Financial Sector Development Program.

Spending in restaurants and cafes came in at SR1.67 billion, a 1.7 percent weekly dip, while transactions at gas stations totaled SR1.08 billion. Outlays for professional and business services reached SR1.05 billion, on par with transportation at SR1.05 billion.

Apparel, clothing, and accessories accounted for SR1.03 billion in POS activity. Healthcare transactions totaled SR930.57 million, while spending on furniture and home appliances stood at SR505.68 million.

The jewelry segment recorded a 6.9 percent weekly rise to SR310.35 million.

Riyadh led all cities with SR5.17 billion in POS spending, though down 5.6 percent from the previous week. Transactions in the capital increased 3 percent to 78.86 million.

Jeddah followed with SR2.11 billion and 28.27 million transactions. In Dammam, spending reached SR737.22 million, while Makkah and Madinah logged SR583.81 million and SR576.84 million, respectively. Al-Khobar recorded SR418.24 million, followed by Buraidah at SR366.23 million, and Abha at SR197.86 million.

The latest data from SAMA indicates that consumer confidence in the Kingdom remains resilient despite global economic uncertainties, providing crucial support to ��������’s broader economic transformation agenda.

In April, the central bank reported that the total number of non-cash retail transactions reached 12.6 billion in 2024, up from 10.8 billion in 2023, reflecting the continued growth and adoption of electronic payment systems across the country.