DUBAI: Air Djibouti began its first flight to Aden International Airport on Wednesday after a three-year hiatus due to the war against pro-Iranian Houthi militia in the province of Aden, Saudi state-news channel Al-Ekhbariya reported.
The airline launched the trip on Wednesday in the presence of Djibouti’s ambassador to Yemen Mohammed Ali Issa and Yemen’s ambassador to Djibouti Abdullah Musallam Al-Sakhtari, according to the official Yemeni news agency.
Aden’s Undersecretary for Transportation Khalid Al-Jahlmani welcomed the delegation from Djibouti, and expressed appreciation for the efforts to facilitate trade between the two countries.
For his part, the Djiboutian ambassador said that the inauguration of his country’s flights to Aden were the signals of the development of relations between the two nations.
The Yemeni ambassador said that the resumption of flights between the two countries will also facilitate humanitarian organizations’ work in Yemen.
Air Djibouti begins first flight to Aden after three-year hiatus
Air Djibouti begins first flight to Aden after three-year hiatus
Stc Group issues US dollar-denominated sukuk with a total value of $2bn
RIYADH: Stc Group has issued US dollar-denominated sukuk with a total value of $2 billion across two tranches.
The group clarified that the issuance included the offering of $750 million in sukuk with a 5-year maturity at a yield of US Treasury plus 75 basis points, and an issuance of $1.250 billion with a 10-year maturity at a yield of UST plus 90 basis points, according to the Saudi Press Agency.
It noted that the total order book exceeded $8 billion across both tranches, with a coverage rate exceeding 4 times, and participation from over 300 investors in the subscription.
The issuance garnered strong demand from a broad and diverse base of international investors, reflecting solid confidence in the robustness and efficiency of stc Group’s business model and strategy.
This strategy is aimed at strengthening its digital leadership, seizing infrastructure opportunities, enabling massive projects, and contributing to the realization of Vision 2030 objectives, with a focus on achieving sustainable growth based on operational efficiency and maximizing shareholder value.
This issuance enhances stc Group’s access to international capital markets and solidifies investor confidence in the strength of its credit position.
It also supports its strategic role in accelerating the pace of digital transformation in the Kingdom and building a thriving digital economy.
