Saudi General Food Security Authority awards latest wheat tender

Saudi Arabia’s GFSA taps global markets for 985k tons of wheat

The General Food Security Authority (GFSA) awarded its third wheat tender of the year, securing 985k tons from origins including the EU, North and South America, and the Black Sea region. The shipment is scheduled for delivery between June and August via 16 vessels. No details were provided on the pricing of the shipments.

Jamjoom Pharma to acquire Pfizer’s KAEC manufacturing plant

Jamjoom Pharma signed an agreement to acquire Pfizer Saudi Limited’s manufacturing facility in King Abdullah Economic City. The plant specializes in oral solid dosage products and includes a full production chain and quality control labs. The value of the agreement was not disclosed.

Rain Financial acquires Saudi media firm Digital Ma’arefa

GCC-based crypto brokerage Rain Financial acquired the Saudi-based financial media company Digital Ma’arefa, according to a press release (pdf). The company will be integrated into Rain’s operations over the coming months, while its newsletters and media products will continue unchanged. Digital Ma’arefa’s three co-founders — Abdullah Mashat, Wael AlMutlaq, and Abdullah Fageih — will join Rain, with Mashat appointed as managing director. The value of the transaction was not disclosed.

SRC boosts liquidity in mortgage market with SAR 3 bn portfolio acquisition

PIF-owned Saudi Real Estate Refinance Company (SRC) signed a SAR 3 bn agreement to buy a residential mortgage portfolio from AlRajhi Bank, the Saudi Press Agency reports. The move aims to inject more liquidity into the Kingdom’s residential mortgage market and provide flexible financing solutions for Saudi citizens.