The SRC of Saudi Arabia gets the 'A' Fitch rating before scheduled bonds, reports Al Arabiya!

Saudi Real Estate Refinance Co (SRC) was awarded a credit rating of 'A' by Fitch Ratings before the planned issuance of international bonds. اسعار

Before the end of the year, its treasury manager and global capital markets told Al Arabiya that they would issue up to 1 billion dollars in sukuk or Islamic bonds. More Read More

Al Arabiye stated in a report that the company which is wholly owned by the Public Investment Fund's sovereign fund has a lending portfolio of 6.5 billion riyals ($1.73 billion) by the end of 2020.

By 2025, Al Arabiya said, the company aims to have 20 percent market share of Saudi Arabia's property loans.

Last month, the SRC sold 4 billion riyals to the two-tranche Saudi finance ministry private placement of sukuk. At the end of this year, the company plans to issue bonds of between $500 million and $1 billion, likely with a tenor of between 10 and 12 years.

Bloomberg reported that Riyadh Capital has been hired by a digital security company owned by the PIF (Public Investment Fund) Saudi Arabia to advise on a possible IPO.

Digital security company Elm has hired Riyadh Capital to advise people who know the business on the sale of shares that could value the company by around $2 billion.

The IPO was able to see the PIF selling up to 30 percent of the stakes, people said, requesting that the information is not identified as private.

Elm intends to complete next year's sale of shares on the Saudi stock exchange, Bloomberg said.

Deliberations are at an early stage, and offer details may change.

Saudi Arabia's state-controlled companies increasingly seek ways to benefit from rising investor demand for new offerings while at the same time raising money to help fund efforts to diversify the economy away from oil.

Two other PIF companies – Tadawul and Acwa Power stock exchange – are expected to sell Saudi stocks this year while Saudi Telecoms Co. and Saudi Basic Industries Corp. are planning to offer stocks to subsidiaries.

US business group warns China to boycott investors!

BEIJING: An American corporation warned on Tuesday that foreign shoes, clothing and other brands in China are making companies less willing to invest by government boycotts.

That adds to the concerns about Beijing's plan for a list of "unreliable entities" who may be punished for actions that are considered contrary to Chinese interests, the Chamber of Commerce said in an annual business conditions report in China.

The report reflects increasing unrest among American and foreign businesses regarding the impact of economic and strategic tensions between Beijing and its country of origin.

On line demands for consumer boycotts were targeted by brands including Swedish retailer H&M, Adidas and Nike. That was when state media criticized them for expressing concern about possible forced labor in the Xinjiang region of northwest China.

The American Chamber has cited "increasing tensions" between Beijing and Washington as their top concern, as 78 percent of firms responding to its survey.

Beijing announced plans for its "unreliable entities" list in 2019 following President Donald Trump's blocking of Chinese tech giant Huawei Technologie Ltd's access to US components and technology. Officials still have to say which companies can be included or disclose the criteria.

The Chamber stated that concerns about the list "was exacerbated by consumer boycotts by official organizations and Chinese media." One in five companies expressed concern, while 7% said they were less willing to invest.

Nevertheless, half of the companies surveyed said the investment environment in China is improving, while 38 per cent said that the investment environment was the same. The Chamber has said that only 12% of conditions reported have deteriorated, the lowest since 2015.

The Chamber has noted that 27% of IT companies say that the investment conditions are deteriorating, the highest level in all industries. This is at a time when the ruling Communist Party uses subsidies, market barriers and informal pressures for enterprises to attempt to develop its own high-tech industries.