Abu Dhabi Ports secured a $1 billion loan from a group of banks, Reuters reported earlier this week.
This increase was attributed to improved performance in the agricultural commodities and food sector even as overall Saudi imports from the rest of the world fell 9 percent over the year as the pandemic suppressed consumer demand across a number of products.
“Whilst passenger numbers for the first quarter remained significantly below the monthly volumes we handled before March 2020, in the context of the current global situation they are very encouraging and reflect the consolidation phase in our business recovery,” said Paul Griffiths, CEO of Dubai Airports.
“We look forward to the presence of all our partners from financing agencies in all the fund’s branches during the coming period to provide financing and housing solutions closely to Saudi families within the subsidized loan program,” said the general supervisor of the REDF, Mansour Bin Madi.
DUBAI: A slowdown in the sales of agriculture, dairy, and processed food products dragged earnings lower at Saudi Arabia’s National Agricultural Development Company , it said in a stock exchange filing on Wednesday.
SABIC Agri-Nutirents, the SABIC unit formerly known as SAFCO, said net profit surged 39 percent to SR423 million on sales that doubled to SR1.51 billion.
Saudi Arabia, already one of the world’s biggest suppliers of petrochemicals and fertilizers, has stepped up spending in the sector as it adds investments in higher value industries and reduces its overall reliance on crude oil sales.