\n
DEBT WATCH-<\/p>\n
<\/strong>Riyad Bank fully redeemed its USD 1.5 bn fixed rate reset tier 2 sukuk<\/strong> five years ahead of<\/strong> their maturity<\/strong>, it said in a disclosure to Tadawul<\/a>. The bank redeemed all 7.5k shares at face value on Tuesday, with bondholders receiving USD 200k apiece.<\/p>\n \n DISPUTE WATCH-<\/p>\n Batic + Eastern Region Municipality in conflict over parking facilities<\/strong>:<\/strong> Batic Investments<\/a>and Logistics<\/a> is prepared to take legal action to challenge the Eastern Region Municipality\u2019s decision to take over the operations of parking facilities and spaces in Dammam and Khobar, Batic said in a disclosure to Tadawul<\/a>.<\/p>\n ICYMI-<\/strong> The Eastern Province Municipality is planning to take over the management and operation of parking facilities in Dammam and Khobar, it said on Tuesday<\/a>. The municipality also said it plans to introduce a new, more flexible parking system in response to public dissatisfaction. In the meantime, parking will be available without charge. Batic\u2019s subsidiary Smart City Solutions (SCS) currently holds long-term contracts to develop, construct, and operate parking spaces and facilities at Khobar and Dhahran until 2044, and Dammam until 2045.<\/p>\n \n GAMING-<\/p>\n Saudi esports club <\/strong>Twisted Minds<\/a><\/strong> and <\/strong>Riyadh Season<\/a><\/strong> launched Twisted Labs<\/strong>, a new <\/strong>entertainment and esports hub<\/strong> featuring nine entertainment zones and a dual-access system for visitors and staff, it said in a LinkedIn post<\/a>. The new facility is located in Riyadh\u2019s Boulevard City and it will serve as the company\u2019s HQ, housing training facilities, offices, and production studios.<\/p>\n IN CONTEXT-<\/strong> Saudi authorities are targeting the gaming industry as part of economic<\/a>diversification<\/a> efforts, expecting it to contribute SAR 50 bn to the national economy by 2030. The Kingdom hosted the 2024 Esports World Cup and is set to host<\/a> the first Olympic Esports Games within the next three years<\/a>. PIF\u2019s Savvy acquired Scopely for USD 4.9 bn in 2024 and, more recently, Savvy\u2019s subsidiary Scopely was reportedly<\/a> in talks to acquire Pok\u00e9mon Go developer Niantic.<\/p>\n \n LOGISTICS-<\/p>\n TGA boosts maritime safety initiatives: <\/strong>The Transport General Authority (TGA) has set up a new maritime accident investigation bureau platform to provide a comprehensive suite of accessible services for marine accident investigations, according to a statement<\/a>. The digital portal is equipped with features including swift electronic notifications of accidents, news updates, weather and navigational warnings, and information about the marine environment. <\/p>\n \n MINING-<\/p>\n Kefi Gold an<\/a><\/strong>d Copper<\/a><\/strong> raised its resource estimate for the <\/strong>Jibal Qutman gold project<\/strong> by <\/strong>23% to 902k ounces<\/strong>, it said in a statement (pdf)<\/a>. Following additional drilling, the company indicated that indicated resources rose by 69% to 748k ounces, meaning that 83% of estimated gold reserves are now suitable for mine planning.<\/p>\n We\u2019ve been waiting for this: <\/strong>After striking gold early last year<\/a>, Kefi said that it expected feasibility study results and a preferred production start-up plan for Jibal Qutman to be completed in 2H 2024. Kefi owns a 25% stake in Jibal Qutman through a JV with local partner and investment holding company Artar<\/a>.<\/p>\n Mining plans:<\/strong> Kefi plans to begin mining for oxide ore at Jibal Qutman by the end of this year while it continues to explore the wider 35-kilometer mineralized zone, with promising results from early drilling at the Asfingia prospect. Mining for gold is expected to start next year, pending approval from Saudi authorities.<\/p>\n \n FINANCIAL SERVICES-<\/p>\n urpay<\/a><\/strong> signed an agreement with <\/strong>Western U<\/a><\/strong>nion<\/a><\/strong> to offer <\/strong>international money transfe<\/strong>r services via urpay\u2019s digital wallet, <\/strong>according to a<\/a>post<\/a>on X<\/a>. urpay customers will be able to complete international money transfers to bank accounts, mobile wallets, and Western Union branches at selected locations.<\/p>\n About Urpay: <\/strong>Launched in 2021, urpay provides over 6.5 mn users with more than 50 services, including payments, mobile top-ups, and money transfers.<\/p>\n \n SUSTAINABILITY-<\/p>\n Airlines at Red Sea Int\u2019l Airport are getting access to SAF refueling<\/strong>: <\/strong>Red Sea Global (RSG) and daa International \u2014 the operators of the Red Sea International Airport (RSI) \u2014 signed an agreement with the Arab Petroleum Supply Company to supply sustainable aviation fuel (SAF) to all airlines, according to a press release<\/a> yesterday. RSG subsidiary Fly Red Sea will exclusively power its fleet with SAF and lower-carbon aviation fuel with SAF refueling being available to all other airlines at RSI.<\/p>\n SOUND SMART- <\/strong>SAF<\/a> is an alternative fuel made from non-petroleum feedstocks \u2014 raw materials or biomass like cooking oil and waste chemically and physically identical to conventional jet fuel. The use of SAF at RSI \u2014 blended at 35% SAF and 65% standard Jet A1 \u2013 is expected to reduce each aircraft\u2019s emissions by up to 35%. <\/p>\n \n AVIATION-<\/p>\n Wizz Air will begin operating direct flights between Madinah and London starting next <\/strong>August<\/strong>, the Air Connectivity Program said in a post on X<\/a>. The budget carrier will operate seven flights a week between Prince Mohammed bin Abdulaziz International Airport and London Gatwick, according to a press release<\/a>. <\/p>\n \n STARTUP WATCH-<\/p>\n Saudi-based OT cybersecurity firm <\/strong>CQR<\/a><\/strong> closed a USD 3 mn funding round<\/strong>, led by Shorooq, according to a press release<\/a>. The funds will be used to scale and expand its AI capabilities, and also enhance its operational technology security. No further details were provided on the funding round. <\/p>\n About CQR: <\/strong>Pronounced \u201csecure,\u201d CQR specializes in AI-driven, product-based solutions for critical infrastructure sectors like oil & gas, manufacturing, and power plants. The firm was founded in 2023. <\/p>\n","protected":false},"excerpt":{"rendered":" PLUS: Batic, Eastern Region Municipality in conflict over parking facilities<\/p>\n","protected":false},"author":1,"featured_media":94823,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[2564],"tags":[54,10,4054,2041,1289,2226,4053],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-enterpriseam-ksa","tag-kefi","tag-monshaat","tag-transport-general-authority-tga","tag-urpay","tag-western-union","wpautop","entry"],"acf":{"mongo_id":"41dd5bd1-5374-4a38-b2b5-38c040d87add","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/558.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Riyad Bank fully redeems USD 1.5 bn sukuk","related_issue":[94808],"teaser":"PLUS: Batic, Eastern Region Municipality in conflict over parking facilities","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.ddde353a-daaf-4c1a-b9c8-901bfee4b733.mp3"},"yoast_head":"\n