Uganda is in advanced stages of issuing its first sovereign sukuk to cover 15% of a $3.17 billion Standard Gauge Railway project, with 60% expected from export credit agencies and 25% from development finance institutions.
The European Bank for Reconstruction and Development has expanded its credit facility for Palestine’s Arab Islamic Bank, increasing the trade finance limit to USD 10 million. This tactical capital injection aims to sustain cross-border commercial activity in the West Bank by mitigating the impact of restricted international banking access.
2 weeks ago • Palestinian Territory
Newgen Software Technologies' Dubai subsidiary has secured a $2.22 million contract from an undisclosed bank in Kuwait. The two-year agreement involves the implementation of Islamic finance origination and customer communication software, reinforcing the company's expansion in the Gulf region's banking sector.
2 weeks ago • Kuwait;United Arab Emirates
Türkiye’s state-owned energy entity, TPAO, has successfully launched its inaugural $1 billion lease certificate issuance under a new $4 billion trust program. The Shariah-compliant offering was significantly oversubscribed, marking a milestone for Turkish public enterprises seeking diversified international capital to fund long-term energy infrastructure.
2 weeks ago • Turkey
Saudi energy major Aramco has secured USD 3 billion through a two-part sukuk issuance listed on the London Stock Exchange. The transaction underscores sustained global appetite for high-grade Islamic debt and enhances the company’s funding flexibility amid evolving energy market dynamics.
2 weeks ago • Saudi ArabiaIsrael-based defense electronics company Elbit Systems has clinched a $350 million international contract to upgrade main battle tanks over a four-year period, integrating advanced situational awareness, AI-driven targeting, and modern communication suites.
UPS is investing nearly $50 million in specialized automotive and industrial network enhancements. The expansion introduces time-definite heavy air freight services between the U.S. and Mexico, streamlining cross-border production cycles and integrating brokerage and warehousing into a single-carrier solution.
Ohmium International and InSolare Energy have partnered to deploy a 4 MW green hydrogen facility for NLC India Limited. Utilizing advanced Proton Exchange Membrane technology, the plant in Neyveli aims to produce 700 metric tons of hydrogen annually for industrial and mobility applications.
Diversified industrial major Rashmi Group has announced a massive 35,000 million INR investment to scale its steel, power, and mining operations in West Bengal. The plan includes adding 7 million tonnes of annual steel capacity and operationalizing newly acquired coal blocks across several districts.