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DEBT WATCH-

#1- Swiss commodity trading firm Glencore tapped the Saudi Export-Import Bank (Saudi EXIM) for a USD 300 mn loan to fund its purchases of Saudi minerals, with plans to market them in over 156 countries, according to a press release.

#2- Tanmiah Restaurants, a subsidiary of Tanmiah Food Company, obtained a USD 35 mn shariah-compliant loan from Bahrain-based Ahli United Bank, according to a filing to Tadawul. The seven-year revolving facility will be used to fund the company’s expansion plans and working capital needs.

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HEALTHCARE-

Some 54 new healthcare projects in the Qassim province worth a combined SAR 448 mn were inaugurated, state news agency SPA reports. The projects included dental, fertility, diabetes, and cardiac catheterization centers.

TOURISM-

Aroya Cruises, a subsidiary of PIF-owned Cruise Saudi, will launch its inaugural voyage on 16 December, according to news reports (here and here). The three-night cruise will sail from Jeddah to a private Red Sea island. After the debut, Aroya will offer three-, four-, and seven-night cruises to destinations in Saudi Arabia, Jordan, and Egypt.

REGULATION WATCH-

The Municipalities and Housing Ministry released fresh regulations for barbershops, giving them a six-month window to comply. The new regulations (pdf) introduce stricter requirements on sanitation, prohibit reusing shaving razors, and mandate the exclusive use of Saudi Food and Drugs Authority-approved cosmetic products. Under the new regulations, barbershops won’t be allowed to install tanning beds or offer tattooing services.

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