Sharjah Issues Sukuk to Back Businesses Impacted by COVID-19

Sharjah says banks will be able to use the Sukuk as security to access liquidity facilities at the UAE Central Bank
Sharjah says banks will be able to use the Sukuk as security to access liquidity facilities at the UAE Central Bank
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Sharjah Issues Sukuk to Back Businesses Impacted by COVID-19

Sharjah says banks will be able to use the Sukuk as security to access liquidity facilities at the UAE Central Bank
Sharjah says banks will be able to use the Sukuk as security to access liquidity facilities at the UAE Central Bank

The Sharjah Finance Department, SFD, has recently established a framework worth AED4 billion to enhance liquidity for the emirate’s banking system as part of additional financial assistance to all businesses impacted by the COVID-19 outbreak.

"Issued as 12-month dirham-denominated paper in several tranches, the Sharjah Liquidity Support Mechanism, SLSM, Sukuk represents the first rated short term local currency tradeable instrument in the UAE, which can be used for liquidity management by banks," SDF said in a statement on Tuesday.

"This paper has a short term investment grade rating of A-2 by Standard & Poor’s rating agency," Emirates News Agency (WAM) quoted the SFD as saying.

"The authorities in Sharjah and across the region are taking the required measures to provide maximum assistance to all businesses dealing with the impact of the outbreak,” said Director-General of Sharjah Finance Department Waleed Al Sayegh.

“This service will allow banks to use the Sukuk as security to access liquidity facilities at the UAE Central Bank, by following the required guidelines."

He added that since the beginning of the crisis, the Sharjah government has introduced several packages and services to support companies and individuals.

A first tranche of the SLSM was subscribed to in May by Bank of Sharjah with an AED 2 billion participation. Subsequent tranches with one or more other banks are expected to expand the SLSM to AED 4 billion, the statement added.



SAUDI EXPORTS, Heritage Commission Launch 'Saudi Crafts' Brand at Made in Saudi Expo 

The launch of Saudi Crafts took place during the third annual Made in Saudi Expo held at the Riyadh. (SPA)
The launch of Saudi Crafts took place during the third annual Made in Saudi Expo held at the Riyadh. (SPA)
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SAUDI EXPORTS, Heritage Commission Launch 'Saudi Crafts' Brand at Made in Saudi Expo 

The launch of Saudi Crafts took place during the third annual Made in Saudi Expo held at the Riyadh. (SPA)
The launch of Saudi Crafts took place during the third annual Made in Saudi Expo held at the Riyadh. (SPA)

The Saudi Export Development Authority (SAUDI EXPORTS), through its “Made in Saudi” program, announced on Monday the official launch of the “Saudi Crafts” sub-brand in cooperation with the Heritage Commission.

The launch of Saudi Crafts, part of the national Saudi Made brand, took place during the third annual Made in Saudi Expo held at the Riyadh from December 15 to 17, coinciding with the Year of Handicrafts.

Saudi Crafts was unveiled during “Banan: The Saudi International Handicrafts Week” in November, marking a new step in efforts to develop the handicrafts sector, empower male and female artisans, and strengthen the integration of their products within the national industrial ecosystem.

The Saudi Crafts sub-brand will highlight Saudi handicrafts as products that embody creativity, authenticity, and quality, presenting them in a contemporary manner that boosts their competitiveness in local and global markets under the umbrella of the national Saudi Made brand.

This year's Made in Saudi Expo allocated dedicated spaces to showcase artisans' products, introduce national handicraft skills, and connect artisans with supporting entities and potential buyers, thus expanding growth opportunities. It reinforces the presence of Saudi handicrafts as a key element of the Kingdom's cultural and economic identity.

The official launch of the Saudi Crafts sub-brand represents a key milestone in joint national efforts to develop creative industries, support the sustainability of local crafts, and increase the visibility of Saudi products in domestic and international markets.


13th Saudi Smart Grid Conference Opens in Riyadh

The three-day conference brings together experts and specialists from 25 countries and features 28 panel discussions and technical sessions. (SPA)
The three-day conference brings together experts and specialists from 25 countries and features 28 panel discussions and technical sessions. (SPA)
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13th Saudi Smart Grid Conference Opens in Riyadh

The three-day conference brings together experts and specialists from 25 countries and features 28 panel discussions and technical sessions. (SPA)
The three-day conference brings together experts and specialists from 25 countries and features 28 panel discussions and technical sessions. (SPA)

The 13th Saudi Smart Grid Conference (SASG 2025), and its accompanying exhibition, opened in Riyadh on Monday under the patronage of the Saudi Ministry of Energy.

Held the theme “Innovation Today for a Sustainable Tomorrow,” the three-day conference brings together experts and specialists from 25 countries and features 28 panel discussions and technical sessions presenting 225 scientific papers on global advancements in smart grid systems.

In an opening address, Assistant Minister of Energy for Electricity Affairs, Eng. Nasser Al-Qahtani highlighted the continued support extended to the energy sector by the Kingdom’s leadership.

He commended the Minister of Energy’s support for convening and sponsoring the conference, noting its importance in advancing dialogue on smart grid technologies.

“Smart grid technologies are a cornerstone of the global energy transition,” Al-Qahtani said. “They enable improvements across electricity generation, transmission, and distribution, while strengthening grid security and reliability.”

In line with Saudi Vision 2030, the Ministry of Energy is advancing long-term planning to optimize the use of the Kingdom’s diverse energy resources, with the aim of strengthening grid security and resilience and improving generation efficiency, he added.

These efforts reinforce Saudi Arabia’s leadership in this vital sector, position the Kingdom as a global hub for electricity interconnection and renewable power exports, and support the development of a regional electricity trading market, an optimal energy mix, and national emissions-reduction targets, he remarked.

Al-Qahtani stressed that the Kingdom’s electricity sector has undergone significant transformation in recent years, including major upgrades to grid infrastructure to enhance readiness for renewable energy integration and energy-storage systems.

“Smart grids are a fundamental component of electricity sector development,” he said. “They enhance incident response, accelerate system recovery, and improve service reliability by analyzing smart-meter data through the use of artificial intelligence to support proactive, data-driven decision-making.”

He noted that distribution network automation in the Kingdom reached approximately 40% by the end of 2025, an optimal level in line with international best practices in terms of return on investment.

He also highlighted the development of renewable power projects with a combined capacity of nearly 64 gigawatts, of which 12.3 gigawatts have already been connected to the national grid.

Additionally, battery energy-storage systems with a total capacity of 30 gigawatt-hours are under development, with 8 gigawatt-hours already grid-connected. These projects, he said, play a critical role in enabling the grid to balance real-time fluctuations between supply and demand resulting from the variable nature of renewable energy sources.

The opening ceremony included the recognition of the Energy Hackathon winners, the exchange of agreements, and the inauguration of the accompanying exhibition.

The conference provides a global platform for sharing expertise and forging partnerships in smart grids and the digital economy, and convenes international experts, decision-makers, researchers, and specialists.

Discussions will address key challenges and opportunities across the power sector, renewable energy, regulation and the future of smart grids, with emphasis on technology localization, capacity building and technical partnerships to strengthen smart infrastructure and support a sustainable, investment-friendly and innovation-enabling energy ecosystem.

The conference will also explore the integration of renewable energy sources, the latest developments in electricity storage solutions and smart load-management systems, as well as the role of cybersecurity in protecting energy infrastructure and strengthening system reliability.


Saudi Industry Minister, Syrian Counterpart Visit Made in Saudi Expo 

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and Syrian Minister of Economy and Industry Mohammad Nidal al-Shaar at the Ministry of Interior’s pavilion at the Made in Saudi Expo 2025 in Riyadh. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and Syrian Minister of Economy and Industry Mohammad Nidal al-Shaar at the Ministry of Interior’s pavilion at the Made in Saudi Expo 2025 in Riyadh. (SPA)
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Saudi Industry Minister, Syrian Counterpart Visit Made in Saudi Expo 

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and Syrian Minister of Economy and Industry Mohammad Nidal al-Shaar at the Ministry of Interior’s pavilion at the Made in Saudi Expo 2025 in Riyadh. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and Syrian Minister of Economy and Industry Mohammad Nidal al-Shaar at the Ministry of Interior’s pavilion at the Made in Saudi Expo 2025 in Riyadh. (SPA)

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and Syrian Minister of Economy and Industry Mohammad Nidal al-Shaar visited the Ministry of Interior’s pavilion at the third annual Made in Saudi Expo 2025 in Riyadh, reported the Saudi Press Agency on Tuesday.

The event is being held from December 15-17.

The ministers reviewed efforts to localize spending on military and technological systems and promote national products and solutions in security and service sectors, including the Saudi armored vehicle “Al-Dahna,” the ministry’s e-platform “Absher,” and the “ASEF II” drone for environmental security and sustainability.

They also explored electronic services for citizens, residents, and visitors, as well as key developmental projects within the ministry and its security sectors.