Saudi riyal (SAR)
3 articlesSaudi Arabia's currency is the Saudi riyal, recorded under ISO code SAR and managed by the Saudi Central Bank. Riyal banknotes and coins circulate with the halala as the subdivision, providing the country's legal-tender cash system. A fixed link to the US dollar is central to the exchange-rate arrangement, although monetary administration remains Saudi and the currency has its own issuer and denominations. SAR is separate from the Qatari riyal and other regional currencies with similar names.
Mulan Steel puts ten-for-one share consolidation to a vote
Shareholders will vote on cutting Mulan Steel's share count from 26.6 million to 2.66 million. The company says the plan targets accumulated losses while keeping capital unchanged.
Ben Dawood secures sharia-compliant funding for major food sector deal
Ben Dawood Holding has obtained a one-year sharia-compliant revolving credit facility worth SAR 217.8 million to finance its acquisition of a 51 percent stake in Faza Food. The deal involves no bank guarantees and signals a strategic move in Saudi retail.
UAE stock market liquidity jumps as big trades split Abu Dhabi and Dubai
UAE stock markets saw liquidity top AED 1.8 billion as large direct trades and selective buying sent Abu Dhabi and Dubai in different directions. Regional exchanges posted mixed results.