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DEBT WATCH-
Nomu-listed Investment firm Osool and Bakheet refinanced a SAR 50 mn Shariah-compliant loan with Banque Saudi Fransi, according to a disclosure to Tadawul.The loan will support the company’s Tawarruq financing and Islamic payment guarantees, and runs until 6 August 2025.
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BUSINESS-
Takamol Holding signed 16 agreements at Gitex Global 2024 in Dubai, according to a press release. This includes an agreement with Aramco to use Qiwa and Ajeer for workforce assignment verification, an MoU with Oracle to use its cloud services, and an agreement with Bank AlBilad to promote disability services and programs. In addition, Takamol partnered with General Assembly to launch AI and tech training programs, with Tiqmo to streamline salary payments via the Musaned platform, and with North Highland to support the public sector’s digital transformation.
Other agreements also involved Hafil, Klues AI, Dahua, Lloyd’s, CNTXT, Arka, Intaleq, and 51 World, according to a LinkedIn post. The company also signed agreements with Expert Vision Consulting and Serco to mull potential cooperation in consulting services.
MINING-
Industry Ministry + MISA tap six companies for mining exploration program: The Industry and Mineral Resources Ministry along with the Investment Ministry (MISA) have signed off on 49 applications from six companies for the first batch of the Exploration Enablement Program, launched at the Future Minerals Forum in January of this year, MISA said. The selected companies can now mine for strategic minerals like copper, lithium, and gold across a total license area of 4k sq km.
