{"id":598176,"date":"2019-05-16T03:28:17","date_gmt":"2019-05-16T03:28:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/region-watch-ksa-residency-for-foreigners-majid-al-futtaims-green-corporate-sukuk-and-the-us-embassy-is-partially-shutting-down-in-baghdad\/"},"modified":"2019-05-16T03:28:17","modified_gmt":"2019-05-16T03:28:17","slug":"region-watch-ksa-residency-for-foreigners-majid-al-futtaims-green-corporate-sukuk-and-the-us-embassy-is-partially-shutting-down-in-baghdad","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/region-watch-ksa-residency-for-foreigners-majid-al-futtaims-green-corporate-sukuk-and-the-us-embassy-is-partially-shutting-down-in-baghdad\/","title":{"rendered":"Region watch: KSA residency for foreigners, Majid Al Futtaim\u2019s green corporate sukuk, and the US embassy is (partially) shutting down in Baghdad"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <b>A handful of regional stories worth knowing about <\/b>as we all prepare to head into the weekend:<\/p>\n<p><b>Saudi Arabia is launching two new residency categories to attract skilled foreign workers. <\/b>One will offer a form of permanent residency, while the other will include annually renewable work permits in a move that could allow some foreigners to live and work in the country without local sponsorship. Details of the two categories are expected within 90 days. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-05-15\/saudis-offer-permanent-residency-to-some-expats-in-landmark-move?srnd=premium-middle-east\">Bloomberg<\/a> and the <a href=\"https:\/\/www.ft.com\/content\/266c9940-772c-11e9-bbad-7c18c0ea0201\">FT<\/a> have the story.<\/p>\n<p><b>UAE\u2019s <\/b><a href=\"https:\/\/www.finablr.com\/\"><b>Finablr<\/b><\/a><b> began trading on the London Stock Exchange yesterday<\/b>, with shares in the payments platform changing hands at GBP 1.75 apiece, <a href=\"https:\/\/www.efghermes.com\/en\/News\/Pages\/Corporate-News-Details.aspx?wurl=\/en\/News&lid=64f7e8df-e76b-42cf-9180-30f24b4b9ed1&vid=9310a3fc-11e6-4145-927d-c49e5a218ddf&iid=407\">our friends at EFG Hermes announced<\/a>. The share price gave Finablr \u201can implied market value at the opening bell of GBP 1.23 bn.\u201d Finablr had cut earlier this week its IPO price amid weak investor demands, after having initially planned to list its share on the LSE at GBP 2.10-2.60 per share. EFG Hermes served as joint bookrunners on the GBP 337 mn transaction, which was led by JPMorgan, Barclays, and Goldman Sachs.<\/p>\n<p><b>Majid Al Futtaim issues USD 600 mn corporate green sukuk in regional first:<\/b> <a href=\"https:\/\/www.majidalfuttaim.com\/en\">Majid Al Futtaim<\/a> brought to market the region\u2019s first USD 600 mn benchmark corporate green sukuk issuance yesterday, according to <a href=\"https:\/\/ent.news\/2019\/5\/270.pdf\">a company statement (pdf)<\/a>. The shariah-compliant bond issuance \u201cwill be used to finance and refinance Majid Al Futtaim\u2019s existing and future green projects, including green buildings, renewable energy, sustainable water management, and energy efficiency.\u201d Majid Al Futtaim CEO Alain Bejjani noted, \u201cWe are extremely proud to list the world\u2019s first benchmark corporate green sukuk. The widespread interest from global investors in the bond indicates their confidence in our ESG rating, BBB credit rating, and prudent financial and risk management approach.\u201d<\/p>\n<p><b>The US has ordered the partial evacuation of its embassy in Baghdad <\/b>\u201cresponding to what the Trump administration said was a threat linked to Iran, one that has led to an accelerated movement of American ships and bombers into the Gulf,\u201d per the <a href=\"https:\/\/www.nytimes.com\/2019\/05\/15\/us\/politics\/us-iraq-embassy-evacuation.html\">New York Times<\/a> reports. British defense officials aren\u2019t on the same page, saying there is no elevated threat from Iran, according to <a href=\"https:\/\/www.theguardian.com\/us-news\/2019\/may\/14\/no-iran-threat-in-syria-or-iraq-says-top-british-officer-in-defiance-of-us\">the Guardian<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A handful of regional stories worth knowing about as we all prepare to head into the weekend: Saudi Arabia is launching two new residency categories to attract skilled foreign workers. One will offer a form of permanent residency, while the other will include annually renewable work permits in a move that could allow some foreigners [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,224,78,431,1896,219,2380,280],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-598176","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-green-bonds","tag-ipo-watch","tag-london-stock-exchange","tag-majid-al-futtaim","tag-saudi-arabia","tag-speed-round","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"0f3c0caf-0e37-421a-a42f-5a7120bcdb2a","is_powered_by":true,"section_story_id":"8ff9daf8-061a-4ced-95b0-da000e241f78","story_type":"1","photo_url":"","photo_position":"above","related_issue":[598164],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Region watch: KSA residency for foreigners, Majid Al Futtaim\u2019s green corporate sukuk, and the US embassy is (partially) shutting down in Baghdad - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/region-watch-ksa-residency-for-foreigners-majid-al-futtaims-green-corporate-sukuk-and-the-us-embassy-is-partially-shutting-down-in-baghdad\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Region watch: KSA residency for foreigners, Majid Al Futtaim\u2019s green corporate sukuk, and the US embassy is (partially) shutting down in Baghdad\" \/>\n<meta property=\"og:description\" content=\"A handful of regional stories worth knowing about as we all prepare to head into the weekend: Saudi Arabia is launching two new residency categories to attract skilled foreign workers. One will offer a form of permanent residency, while the other will include annually renewable work permits in a move that could allow some foreigners [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/region-watch-ksa-residency-for-foreigners-majid-al-futtaims-green-corporate-sukuk-and-the-us-embassy-is-partially-shutting-down-in-baghdad\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-16T03:28:17+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/region-watch-ksa-residency-for-foreigners-majid-al-futtaims-green-corporate-sukuk-and-the-us-embassy-is-partially-shutting-down-in-baghdad\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/region-watch-ksa-residency-for-foreigners-majid-al-futtaims-green-corporate-sukuk-and-the-us-embassy-is-partially-shutting-down-in-baghdad\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Region watch: KSA residency for foreigners, Majid Al Futtaim\u2019s green corporate sukuk, and the US embassy is (partially) shutting down in Baghdad\",\"datePublished\":\"2019-05-16T03:28:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/region-watch-ksa-residency-for-foreigners-majid-al-futtaims-green-corporate-sukuk-and-the-us-embassy-is-partially-shutting-down-in-baghdad\/\"},\"wordCount\":379,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"green bonds\",\"IPO watch\",\"London Stock Exchange\",\"Majid Al Futtaim\",\"Saudi Arabia\",\"SPEED ROUND\",\"sukuk\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/region-watch-ksa-residency-for-foreigners-majid-al-futtaims-green-corporate-sukuk-and-the-us-embassy-is-partially-shutting-down-in-baghdad\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/region-watch-ksa-residency-for-foreigners-majid-al-futtaims-green-corporate-sukuk-and-the-us-embassy-is-partially-shutting-down-in-baghdad\/\",\"name\":\"Region watch: KSA residency for foreigners, Majid Al Futtaim\u2019s green corporate sukuk, and the US embassy is (partially) shutting down in Baghdad - 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The stores will be rebranded to Carrefour, bringing the number of Carrefour supermarkets to 80 in the UAE, 11 in Bahrain, and eight in Kuwait.\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625305,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/01\/egypt-saudi-arabia-uae-and-oman-top-investment-destination-for-maf-group-ceo-says\/","url_meta":{"origin":598176,"position":1},"title":"Egypt, Saudi Arabia, UAE, and Oman top investment destination for MAF Group, CEO says","author":"enterpriseam admin","date":"1 August 2018","format":false,"excerpt":"INVESTMENT WATCH- Egypt, Saudi Arabia, UAE, and Oman are currently the top investment destinations for the Majid Al Futtaim (MAF) Group as it continues to pursue expansion plans in the region, CEO Alain Bejjani tells Bloomberg in an interview (watch, runtime: 5:42 or read here). The company\u2019s regional expansion plans\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/8\/19.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":605559,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/foreigners-applying-for-residency-permits-get-your-hard-currency-ready\/","url_meta":{"origin":598176,"position":2},"title":"Foreigners applying for residency permits: Get your hard currency ready","author":"enterpriseam admin","date":"3 September 2023","format":false,"excerpt":"Foreigners here without a valid residency permit have three months to get their paperwork in order","rel":"","context":"In &quot;REGULATION WATCH&quot;","block_context":{"text":"REGULATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/29.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586999,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/21\/residency-for-investment\/","url_meta":{"origin":598176,"position":3},"title":"Residency-for-investment","author":"enterpriseam admin","date":"21 May 2023","format":false,"excerpt":"Foreign investors will now get year-long residencies while setting up their businesses","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1091.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":617335,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/20\/cabinet-extends-deadline-for-foreigners-to-sort-out-residency-permits\/","url_meta":{"origin":598176,"position":4},"title":"Cabinet extends deadline for foreigners to sort out residency permits","author":"enterpriseam admin","date":"20 March 2024","format":false,"excerpt":"Foreigners now have until August to legitimize their residency","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/35.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586803,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/17\/taqa-arabia-to-establish-jv-with-saudi-gas-distributor-plus-network-international-moussy-malt\/","url_meta":{"origin":598176,"position":5},"title":"Taqa Arabia to establish JV with Saudi gas distributor. 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