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Knight Frank's Saudi Arabia National Housing Survey highlights the residential demand preferences of owner-occupiers, renters and those living with their families across Saudi Arab

Knight Frank’s Saudi Arabia National Housing Survey is a detailed quantitative and qualitative survey, which highlights the residential demand preferences of owner-occupiers, renters and those living with their families across Saudi Arabia’s major cities.  The survey was designed to bridge the gap in the understanding of effective demand and supply.   Riyadh, KSA, 20th September 2020:  Over recent times despite shifts in demographics, a reduction in household sizes and on-going cultural reform, we have seen very little change in the nature of housing supply across the kingdom. The majority of new stock is centred towards large villas on the periphery of the ever-expanding urban boundaries of Saudi Arabia’s major cities. This type of product is one which the new demographic cohort will struggle to ......read more

Jones Day advises Sponsors on closing of Jeddah Airport 2 ISTP Project in Saudi Arabia

• Largest such project in the Kingdom  • Critical project for the city of Jeddah • Part of Vision 2030 infrastructure reforms   September 17, 2020:  Jones Day has acted as legal counsel on the financial closing of the Kingdom of Saudi Arabia’s largest privately-financed sewage treatment plant, the Jeddah Airport 2 ISTP.  The project forms part of the Saudi Government’s Vision 2030 and will bring significant benefits to the city of Jeddah.   Jones Day acted on all aspects of the Jeddah A2 ISTP for the consortium of sponsors who are investing in the plant, consisting of The Power and Water Utility Company for Jubail and Yanbu (Marafiq), AlAmwal AlKhaleejiah AlThaniya and Veolia Middle East. The Firm advised as international legal counsel on the project, and, through its ......read more

Marafiq and its Partners, Veolia and Amwal AlKhaleejiah, Reach the Financial Closing of Jeddah Sewage Treatment Plant

SWPC and the consortium composed by Marafiq, Veolia, and Amwal AlKhaleejiah have successfully achieved the financial closing of the US$ 280M ISTP (Independent Sewage Treatment Plant) project for Jeddah. September 13, 2020:   Marafiq (Power and Water Utility Company for Jubail and Yanbu) is the lead developer in Jeddah Airport 2 ISTP (Independent Sewage Treatment Plant) and has a wealth of experience as an integrated utility service provider to major industrial cities in Saudi Arabia.  The Jeddah Airport 2 ISTP was awarded under the Build, Own, Operate and Transfer (BOOT) concession model, and will be developed under a 25-year Public-Private Partnership (PPP) model. Marafiq has partnered with Veolia, an Amwal AlKhaleejiah, who will support the development, financing, engineering, procurement, construction, ......read more

New COVID-19 Response Report Analyses Saudi Arabia's Insurance Industry as Digitisation Gains Pace'

Oxford Business Group and Najm Insurance Services launch latest research tool    Riyadh, 10 September 2020:  The impact of Covid-19 on the insurance sector in Saudi Arabia and the efforts of sector players to support the national response to the challenges of the pandemic  are explored in a new Covid-19 Response Report (CRR) by Oxford Business Group (OBG), produced with Najm Insurance Services.   The CRR provides an in-depth analysis of Saudi Arabia’s response to the coronavirus in an easy-to-navigate and accessible format, focusing on key data and infographics relating to the country’s socio-economic landscape.   The report examines the Kingdom’s robust macroeconomic position before the crisis, looking at how the combination of low public debt, a strong credit rating and ......read more

Ogilvy Becomes First Agency Brand to Reach 1 Million Followers on LinkedIn

September 10, 2020:  Ogilvy has become the first agency brand to reach an impressive social media milestone: one million followers on LinkedIn.    LinkedIn has become the social destination for business, employment, and company culture content. Ogilvy’s global social and thought leadership strategy is a natural fit with LinkedIn. The one million follower landmark is the result of the cultivation of a community where big ideas that shape brands are shared, celebrated, and discussed.     Ogilvy’s one million LinkedIn followers come from across the globe and the business spectrum. The top five nations represented in Ogilvy’s LinkedIn community are the United States, India, United Kingdom, Brazil, and Spain; its followers come from industries as varied as Marketing and Advertising to ......read more

Saudi Arabia has Reached the Highest Download Speed of 144.5 Mbps Through 5G Networks Among Different Countries

Please find below the statement from Femi Oshiga, VP Sales, Service Providers, Middle East & Africa, CommScope:   Saudi,  September 02, 2020:  ”It’s incredibly encouraging to see such download speeds being reached in Saudi Arabia through 5G networks. As we’re beginning to see, 5G holds the promise of superfast download speeds and unparalleled performance that enables us to move the world towards connected communities and advanced IoT adoption. As we’re beginning to see, 5G holds the promise of superfast download speeds and unparalleled performance that enables us to move the world towards connected communities and advanced IoT adoption. IDC predicted that there will be 41.6 billion connected IoT devices worldwide by 2025 - and 5G connectivity will be essential in making this ......read more

Intention to List Bindawood Holding Company On the Saudi Stock Exchange (Tadawul)

Saudi, August 31, 2020:  BinDawood Holding Company (“BinDawood Holding” or the “Company”), one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom of Saudi Arabia (“KSA” or “Saudi Arabia”), announces its intention to proceed with an initial public offering (the “IPO” or the “Offering”) and listing of its ordinary shares (“Shares”) on the Main Market of the Saudi Stock Exchange of Saudi Arabia (“Tadawul”). The Offering is expected to comprise a sale of existing Shares and result in a free float of 20 per cent.   Tadawul approved the Company’s application for the listing of the Shares on the Main Market on 26 February, 2020G and the Capital Market Authority (“CMA”) approved ......read more

Lucid Air to be the Fastest Charging EV, Featuring a 900V+ Architecture Delivering a Charging Rate of Up to 20 Miles (32 Km) Per Minute'

Partnerships with Electrify America include unlimited three-year subscription of 350kW fast charging at its nationwide network and with QMerit for installation of Lucid’s bi-directional home charger for car-to-grid capability together deliver future-proof solutions for Lucid customers   Saudi - August 25, 2020:  Lucid Motors, which seeks to set new standards for sustainable transportation with its advanced luxury EVs, today announced the Lucid Air will be the fastest charging electric vehicle ever offered with the capability to charge at rates of up to 20 miles (32 km) per minute. For owners charging their Lucid Air in real-world conditions on the road, that translates into 300 miles (483 km) of range in just 20 minutes of charging.   This new benchmark for speed of charging is possible through an ......read more

Vision 2030-Driven Digital Transformation Gave Ksa Resilience Needed to Face Pandemic and Beyond

Munir Eldesouki, Assistant Minister, Ministry of Communications and Information Technology, tells Oxford Business Group    RIYADH, Kingdom of Saudi ARABIA, 24 August 2020:  Vision 2030, Saudi Arabia’s, gave the Kingdom of Saudi Arabia the resilience it needed to navigate through the COVID-19 global pandemic, according to insights given by H.E Dr. Munir Eldesouki, Assistant Minister, and Mrs. Daniah Orkoubi, Chief Economist, at the Kingdom’s Ministry of Communications and Information Technology, in recent interviews with Oxford Business Group’s online broadcasting channel, Global Platform.   Digitally enabled through more than a dozen national transformation programs, Vision 2030 allowed the Kingdom to structure and drive a swift response to the pandemic, aimed at curbing its spread ......read more

FUNKO Bagged a New Guinness World Records™ Title

The largest packaged product mosaic (image) measures 157.7 m² and consisted of 8,600 items   20 August 2020 – Guinness World Records™ (GWR), the global authority on record-breaking achievements announced a new world record for The largest packaged product mosaic (image) measures 157.7 m² which was achieved by Funko (UAE) in association with Dubai Summer Surprises and Mall of the Emirates.  The brand-new title with a minimum requirement of 150 m2 is the first on-site adjudication GWR delivered in the MENA region since lockdown. The instalment, which consists of 8,600 packaged products, took 15 people and a total of 16 hours to complete, and was barriered off to ensure social distancing with promoters and walk-in shoppers.  The official attempt was made by Monkey Distribution, the Middle ......read more

Shaker Group Achieves Net Profit for 1H 2020; Strong Sales Drove Revenue Growth of 8.4%

Successful Breakthrough Program, supported by agile response to Covid-19, have returned the Group to profitability for the first time since Q3 2016   Riyadh, Saudi Arabia, 18th August 2020: Shaker Group (“Al Hassan Ghazi Ibrahim Shaker Co.”, the “Company” or the “Group”), Saudi Arabia’s leading importer, manufacturer and distributor of Air Conditioners and Home Appliances, has announced its financial results for the 6-month period ended 30 June 2020.  Revenue of SAR 488.75 million improved by 8.4% from H1 2019. The Group recorded a first half net profit of SAR 1.79 million, compared to a net loss of SAR 38.68 million in H1 2019, and the operating profit for the 6-month period was SAR 3.36 million, compared to an operating loss of SAR 25.43 million the previous year. First half ......read more

AMAALA Strengthens Partnership With Saudi-based Company Hasco

Saudi start-up leading excavation, backfilling, and earthworks for Triple Bay Marina   The yacht club at Triple Bay   17 August 2020:   AMAALA, the ultra-luxury destination located along Saudi Arabia’s northwestern coast, has awarded the contract for excavation, backfilling, and earthworks to Duba-based startup, HASCO (Hasan Al-Harbi Corp.). As part of the contract, HASCO has deployed a team of 90 across Triple Bay Marina to manage the excavation of the AMAALA’s marina basin.   HASCO has also overseen the installation of critical infrastructure, including access roads, and the construction of on-site offices, following the initial preparation works across the AMAALA site.    Chief Executive Officer of AMAALA, Nicholas Naples said: “We are pleased to be ......read more

Global Commercial Insurance Pricing Increased 19% in Second Quarter COVID-19 Among Range of Losses Impacting Pricing

August 13, 2020:  Global average commercial insurance prices increased 19% in the second quarter of 2020, according to the Global Insurance Market Index released today by Marsh, the world’s leading insurance broker and risk adviser. The increase, the largest since the index was launched in 2012, follows year-over-year average increases of 14% in the first quarter and 11% in the fourth quarter of 2019.    As with the first quarter, average price increases were driven principally by increases in property insurance rates and financial and professional lines. Among other findings, the survey noted:   • Global property insurance was up 19% and global financial and professional lines were up 37%, while global casualty pricing was up 7% on average. • Composite pricing in the second quarter ......read more

Latest COVID-19 Response Report on Saudi Arabia Highlights E-commerce Expansion

Oxford Business Group and Saudi Payments launch new economic analysis    Riyadh, 13 August 2020:  A new Covid-19 Response Report (CRR) by Oxford Business Group (OBG), produced in partnership with Saudi Payments, charts the shift under way in the Kingdom towards e-commerce and digital transactions, which is expected to be instrumental in supporting the economy’s recovery.   The CRR provides an in-depth analysis of Saudi Arabia’s response to the coronavirus in an easy-to-navigate and accessible format, focusing on key data and infographics relating to the country’s socio-economic landscape.   The Kingdom’s national payment infrastructure, which had already been strengthened before the pandemic took hold, and its pivotal part in easing the transition to online and mobile ......read more

Bilfinger Middle East signs its first Digitalization Contract with Saudi Tabreed

•         Bilfinger first digitalization contract in the Middle East  •         Objective is to analyze and optimize the operation of chiller modules with the help of BCAP (Bilfinger Connected Asset Performance)  •         Location: Saudi Arabia, Riyadh August 13, 2020:  Babcock Borsig Service Arabia Ltd. has signed its first digitalization contract with Saudi Tabreed Operations & Maintenance Company. This is the first digitalization awarding secured by Bilfinger Middle East for the region. Saudi Tabreed, a highly experienced district cooling scheme operator in the Kingdom of Saudi Arabia with its headquarters based in Khobar, Eastern Province, operates as a subsidiary of Saudi Tabreed, a closed joint-stock company between ......read more

The New Reality of Consumer Behaviors That Will Define Telco Services in the Kingdom of Saudi Arabia

BCG's telco focused consumer behavior study found that 53 percent of respondents in the Kingdom of Saudi Arabia expects the changes in consumption trends to continue beyond the lockdown, highlighting the importance of telco services in the Kingdom   Riyadh, August 13 2020: The COVID-19 pandemic and the ensuing lockdown have significantly impacted telco consumers' behavior in the Kingdom of Saudi Arabia (KSA). A new study conducted by Boston Consulting Group (BCG) highlights the key trends that are expected to continue or amplify beyond the current crisis. The study, which was conducted in 13 leading digital nations surveyed consumer actions and perception of telco services in light of the current crisis.   "A major increase in usage of telco services was expected in times where digital platforms ......read more

Greenpeace Statement: Open Letter to the UN Regarding the FSO SAFER

13 August 2020:  Commenting on the publication of an open letter to the UN Secretary-General urging them to take action to deal with the FSO SAFER oil tanker and stop a humanitarian and environmental catastrophe off Yemen, Greenpeace MENA Executive Director Zeina Alhajj said: “Time has run out on doing nothing to avert the looming social and ecological disaster that is the FSO SAFER oil tanker. Inaction is no longer an option. “The UN is our last, best hope of averting a catastrophic oil spill in the Red Sea. It has all the influence and expertise to solve the problem and Greenpeace urge the Secretary-General to make repairing the tanker and removing the million barrels of oil on board a priority. “Unless the UN act we risk sleepwalking into a disaster of international significance that will heap even more ......read more

DREI Organises Virtual Real Estate Conference With Saudi Partners

The conference discusses real estate challenges and solutions post COVID-19 and cements cooperation between the UAE and KSA 3 August 2020:   The Dubai Real Estate Institute (DREI) in Dubai Land Department (DLD) is organising the first virtual real estate conference titled ‘Real Estate post-COVID-19 – Challenges and Solutions,’ in cooperation with a number of entities in the KSA. The conference, which will be held on 23 – 24 August, will witness the participation of a group of real estate speakers and experts from both countries. The sessions will be held through modern technology that supports the remote organisation of conferences and exhibitions. This conference is in line with the keenness of the UAE Government and Dubai’s Government, represented by DLD and DREI, to raise the levels of ......read more

Saudi Arabia's Amlak International Achieves 129% Net Income Growth in H1 2020

• Revenue grew 6.2% to reach SAR 73.2 million for Q2 2020, and 7.9% to reach SAR 148.4 million for 1H 2020 • Earnings before tax (EBT) of SAR 28.5 million, at margin of 38.9% • Net real estate financing portfolio grew by 9.56% or SAR 305.6 million • New disbursements across the lending book increased by 22.32% • Amlak completed its listing on Tadawul in July, under ticker symbol 1182   Riyadh, Saudi Arabia, 29 July 2020: Saudi Arabia’s leading non-bank real estate lender, Amlak International (“Amlak” or the “Company”), has announced its financial results for the period ended 30 June 2020. Net income grew by 20.9% y-o-y to SAR 23.8 million for the Q2 2020 period, and by 129% y-o-y to SAR 53.3 million for 1H 2020, with total revenues increasing by 6.2% y-o-y to ......read more

Next Chapter of Medina's Growth Story Mapped Out in New Report

Oxford Business Group launches landmark analysis of key region in Saudi Arabia   Dubai, United Arab Emirates, July 28, 2020: The key role earmarked for the Medina region of Saudi Arabia in driving growth across the non-oil sector of the Kingdom’s economy is mapped out in a new report by the global research and advisory firm Oxford Business Group (OBG), produced in partnership with Al Madinah Regional Development Authority. The Report: Medina 2020 puts the new Al Madinah Region Strategy 2030 under the microscope, looking at its objectives, while analysing the way in which they dovetail with the social and economic targets laid out in Vision 2030, Saudi Arabia’s far-reaching development roadmap.  With religious tourism identified as an engine for growth under Vision 2030, steps are being taken to ......read more

Instinctif Partners and Advert One Complete IPO Advisory Role for Amlak International

 27th July 2020: Instinctif Partners and Advert One have completed their role in providing strategic communications counsel and public relations to Saudi Arabia’s leading non-bank real estate lender, Amlak International, for its IPO on the Saudi Stock Exchange. Established in 2007 and headquartered in Riyadh, Amlak offered 30% of its equity at a price of SAR 16, raising approximately SAR 435 million. The IPO was oversubscribed by almost 5x by institutional investors and by nearly 27x by retail participants. On their first day of trading, Amlak’s shares were well-received by investors and rose in price by their regulatory 10% limit.  Amlak International is Saudi Arabia’s leading non-bank real estate finance company, providing Shariah-compliant real estate financing solutions to both corporates (including ......read more

Spanish Contingent Grows at Golf Saudi as Pablo Larrazabal is Confirmed as Latest Ambassador

Pablo Larrazabal joins Adri Arnaus as Golf Saudi’s newest international ambassador  21 July 2020, Riyadh, Saudi Arabia:  Golf Saudi has confirmed that Pablo Larrazábal is the latest professional player to join their ranks as an international golfing ambassador. The in-form Spaniard joins his fellow compatriot Adri Arnaus from the European Tour and Britain’s Amy Boulden and Sweden’s Camilla Lennarth from the Ladies European Tour, in representing Golf Saudi in its extensive efforts to promote the Kingdom of Saudi Arabia internationally as an exceptional golfing nation. Born in Barcelona, Pablo Larrazábal started playing golf aged five and under the tutelage of his mother, went onto become a scratch handicapper. He has been a prominent figure on the European Tour for over a decade and burst ......read more

KSA Residential Sector is Expected to See a Shift towards Rental says JLL

Riyadh, KSA, 21 July 2020 – Saudi Arabia’s real estate sectors remained soft during quarter two, although the residential market remained somewhat active and saw several key projects delivered across the Kingdom’s major cities, according to JLL’s 2020 mid-year review report. The report, however, highlighted that in the short-to-mid-term, delays in the handover of projects can be expected, as the higher VAT imposed (effective 1st July) is expected to increase the cost of residential developments and sale prices. To counter the impact, the Minister of Housing has agreed to absorb the increased VAT for first time buyers on unit's worth SAR 850K or less, in an effort to stimulate demand for the affordable housing segment in Saudi Arabia. “A reprioritisation of household spending will continue, and ......read more

Investing in Infrastructure is Essential to Securing KSA's Digital Future

Industry Roundtable Identifies Increased Investment and Co-Creation as Essential to Helping Meet the Kingdom’s Growing Digitization Demands   Kingdom of Saudi Arabia – 15 July 2020: During the virtual roundtable discussion hosted by Cisco, titled ‘Securing the Internet for the Future: Investing in the Road to Recovery’, telecommunication service providers and industry regulators explored key learnings from recent events and evaluated the capability to meet expected demands of future work and communication.   Attendees included Ali Amer – Managing Director, Service Provider Sales, Cisco MEA; Hisham Alsheikh, Deputy CEO of the e-Government Program (Yesser); Haithem Al-Faraj, Senior Vice President of STC’s Technology and Operations Unit; Pastora Valero – Vice President, Public ......read more

Commvault Announces Simply Rewarding Partner Advantage Program

— New and enhanced rebates; Increased flexibility across program tiers; and new deal registration benefits, all coupled with an innovative, partner-ready product portfolio positions partners to grow, profit and be future ready —   July 15, 2020:  Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced the launch of its enhanced Partner Advantage program, creating a path for partner future readiness built on industry-leading intelligent data management solutions and a commitment to innovation.  With the evolution of the program, partners will receive a range of benefits, including simple win, growth, and performance rebates. Partners will also have more flexibility across program tiers with predictable ......read more

Other Top Stories from Banking and Investments
 
The Diplomatic Quarter General Authority in Riyadh Inks First of Its Kind Strategic Deal with TAWAL…

Saudi, July 14, 2020: The Diplomatic Quarter General Authority has recently partnered with the leading integrated ICT Infrastructure service provider in the Kingdom, TAWAL, for the development of the area’s telecommunication infrastructure. The strategic partnership is first of its kind in Saudi Arabia through which TAWAL will be managing the ICT infrastructure and dealing with the ......read more

Amlak International Allocation of Shares, Excess Money Refund, and Trading to Begin on Monday ...…

Riyadh, Saudi Arabia: 12 July 2020:  NCB Capital, the Financial Advisor, Lead Manager, Bookrunner and Underwriter of Amlak International’s IPO announced the completion of the allocation of shares for individual (retail) subscribers. NCB Capital said that after closing the subscription period for the retail tranche, all receiving banks completed the settlement and auditing process on ......read more

UTURN by Webedia Arabia Group Announces the Launch of “TAKKI” on NETFLIX…

Dubai, United Arab Emirates, July 7, 2020:  Webedia Arabia Group, a leading media and technology company developing strategic, insight-driven, culturally-led and creative content for Arab Consumers, announces Netflix’s licensing of the popular Saudi drama series, Takki, which is now available for viewing on the platform.   Produced by UTURN which is part of Webedia Arabia ......read more

Amlak International Completes IPO Retail Coverage at 2,690%…

• Total retail coverage at 2,690% • Institutional book build achieved coverage of 498% • Successful IPO demonstrates investor confidence in Company fundamentals and long-term attractiveness of Saudi capital market     Riyadh, Saudi Arabia: 7th July 2020:  NCB Capital, Financial Advisor, Lead Manager, Bookrunner, and Underwriter for the IPO of Amlak ......read more

Cisco Webex Helps Customers Stay Remotely Connected and Reimagine Work…

Webex Adds More Capacity, Even More Security and Intelligent Insights and Simplifies Telehealth   News Summary:    • Webex platform sees unprecedented demand and more than triples its normal volume. • As the foremost trusted business continuity provider, Cisco invests in the resilience of Webex through continued expansion of global ......read more

Amlak International's IPO Launches Retail Subscription With SAR 16 Share Price for the Offer…

Riyadh, Saudi Arabia: 2 July 2020:  NCB Capital, Financial Advisor, Lead Manager, Bookrunner and Underwriter for Amlak International’s IPO, announced that the individuals (retail) subscription period for 2,718,000 shares offered for IPO at a price of SAR 16  per share will start today 11/11/1441H (2 July 2020G). The subscription period will last for four (4) days, including the ......read more

Cisco Launches Portfolio of Solutions to Boost Business Resiliency for the Workforce and Workplace ...…

• Business leaders looking to IT to meet today’s social distancing requirements in the workplace • New solutions to maintain seamless and secure productivity for a remote workforce  • New offerings to support Healthcare and Education as they transform to new business models    Al Riyadh, Saudi Arabia, 1 July 1, 2020 –  At CiscoLive! ......read more

Cisco Expands Simple and Secure Portfolio to Help Small Businesses Thrive…

New Cloud-Driven Solutions from Cisco Make Buying, Installation & Maintenance Easy   • New dedicated online destination for small businesses on Cisco.com.  • New “Buy Now” button on Cisco.com, providing faster access to Cisco & partner expertise  • New technology and offers in the Cisco ‘Designed for Business’ portfolio ......read more

Saxo Bank Launches Loyalty Program for MENA Region Clients…

Saxo Rewards is a transparent, highly personalized scheme powered by AI and big data   June 23, 2020:   Saxo Bank, the leading fintech and regtech specialist focused on multi-asset trading and investment, has introduced Saxo Rewards, a new, highly personalized loyalty program that offers traders and investors the opportunity to qualify for account upgrades by collecting ......read more

SEDCO Capital Achieves 30% IRR from Office Property Sale in Germany…

Jeddah, Saudi Arabia, June 22, 2020:  SEDCO Capital, a global Shariah compliant asset manager, has successfully exited German-based ABC West, a multi-let office property, realizing an Internal Rate of Return (IRR) of 30% for its investors.  SEDCO Capital sold the property for €52.9 million compared to a purchase price of €29.4 million in 2017. ABC West is a 13,723 sqm of ......read more

Shaker Group Narrows Q1 Losses; Improved Sales and Cost Optimization Reduce Net Loss by 88.5%…

Riyadh, Saudi Arabia, 21st June 2020:   Shaker Group (“Al Hassan Ghazi Ibrahim Shaker Co.”, the “Company” or the “Group”), Saudi Arabia’s leading importer, manufacturer and distributor of Air Conditioners and Home Appliances, has announced its financial results for the 3-month period ended 31 March 2020.  Revenue of SAR 221 million improved ......read more

Investments in Telecoms and Health System Pay Dividends as Saudi Arabia Eyes Economic Turnaround…

Oxford Business Group launches new Covid-19 Response Report  Riyadh, 21 June 2020:   The key part that sustained investments in Saudi Arabia’s digital infrastructure have played in helping to successfully contain the spread of the coronavirus and keep the Kingdom’s economic diversification plans on track is analysed in a new ICT-focused Covid-19 Response Report (CRR) by ......read more

Amlak International Announces Intention to List on Saudi Stock Exchange…

June 14, 2020:   Amlak International for Real Estate Finance (“Amlak”, “Amlak International” or “the Company”), Saudi Arabia’s leading non-bank real estate finance company, announces its intention to proceed with an Initial Public Offering (the “IPO” or the “Offering”) on the Main Market of the Saudi Stock Exchange ......read more

UL Issues Safety Certification To KSB Pumps Arabia For Use Of Fire Pump Assemblies…

• KSB Pumps Arabia becomes first organization in the Middle East to receive the ‘Fire Pump, Driver and Assemblies Certified as to Rating Compatibility’ UL certification   Dubai, United Arab Emirates, June 10, 2020:   UL, a global independent safety science company, has awarded the first ‘Fire Pump, Driver and Assemblies Certified as to Rating ......read more

AMAALA's Youth Empowerment Programme Welcomes Next Generation of Saudi Talent…

 AMAALA Corporate Internship Programme, in partnership with MiSK, kicked off earlier this year to identify and nurture future industry leaders The first group of interns from the MiSK/AMAALA Corporate Internship Programme with Chief Shared Services Officer & Chief of Staff Pete Wu.     RIYADH – 01 JUNE 2020 ¬– AMAALA, the ultra-luxury destination ......read more

KSA-based Seismic Solutions Company ARGAS Targets Global Expansion'…

23 May 2020; Saudi Arabia, Al Khobar:  KSA-founded Arabian Geophysical & Surveying Company (ARGAS), the largest seismic acquisition company in MENA, is to expand its business internationally, further building on a strong track record which has made it a leading regional success story in the oil and gas field services industry.  Industrialization and Energy Services ......read more

Made in Italy, ICSA® Issues a Notification of Counterfeit Products Found in the Kingdom of Saudi ...…

Counterfeits of door hinges are found in the KSA Concesio, Italy - (EMAILWIRE.COM) - The following is a notification from ICSA Serrature Srl that the door hinge identified below bears a counterfeit UL Certification Mark.  The door hinge has not been evaluated by UL to the appropriate Standards for Safety and it is unknown if they comply with any safety requirements.   Although ......read more

KSA-Based Seismic Solutions Company ARGAS Targets Global Expansion…

21 May 2020 - Saudi Arabia, Al Khobar:  KSA-founded Arabian Geophysical & Surveying Company (ARGAS), the largest seismic acquisition company in MENA, is to expand its business internationally, further building on a strong track record which has made it a leading regional success story in the oil and gas field services industry.  Industrialization and Energy Services Company ......read more

UAE Banks Among Top Performing in GCC, KPMG Report Finds…

21 May 2020: KPMG recently released its fifth edition of the ‘GCC listed banks’ results’ report, which analyzes the published results of listed commercial banks across the region for the year ended 31 December 2019. The report, titled ‘New Age Banking’, demonstrates that the UAE’s top ten banks reported positive results in 2019, with an average 13.9 ......read more

COVID-19 Triggers Marked Decline in Global Trade: UNCTAD…

• Global trade values fell 3% in the first quarter of 2020 • An estimated quarter-on-quarter decline of 27% is expected in the second quarter • Commodity prices fell by a record 20% in March, driven by steep drops in oil prices    13 May 2020:  The coronavirus pandemic cut global trade values by 3% in the first quarter of this year, according to the ......read more

Deloitte Launches BrightStart, an Innovative Apprenticeship Program in Riyadh…

Dubai, United Arab Emirates, April 25, 2020:    Deloitte has launched its innovative BrightStart apprenticeship program in Riyadh, Saudi Arabia, offering a unique opportunity for growth to recent Saudi national high school graduates in their first year in university.  BrightStart allows students to continue their university education while simultaneously launching their training ......read more

Inaugural Aramco Saudi Ladies International Presented by Public Investment Fund Re-Scheduled for ...…

Historic Ladies European Tour event, the first-ever professional women’s golf tournament in the Kingdom, finds new date from 8-11 October    14 April 2020, Jeddah, Saudi Arabia:  The inaugural Aramco Saudi Ladies International presented by Public Investment Fund, the first female professional golf tournament to be played in Saudi Arabia, has been rearranged for 8-11 ......read more

Shaker Group Reports Full-Year Revenue Growth of 14.1%; Net Loss Narrows by 74.8%…

• Material impact of Breakthrough Program turnaround strategy demonstrated by results • 12-month gross profit of SAR 165.6 million improved by 65.8% year-on-year • 12-month revenue of SAR 882.8 million improved by 14.1% from 2018 • 12-month net loss narrowed by 74.8% to SAR 49.8 million • Earnings per share improved to loss of SAR 0.79, from SAR 3.12 in ......read more

AMAALA Appoints HKS Architects Master Planner of Triple Bay and the Coastal Development…

HKS appointed Master Planner for AMAALA’s Triple Bay and The Coastal Development   RIYADH – 18 MARCH 2020:     AMAALA, the ultra-luxury destination located along Saudi Arabia’s northwestern coastline, has announced the appointment of international design firm HKS Architects as Master Planner for Triple Bay and The Coastal Development. Set in ......read more

Refinitiv Media Report: Saudi Arabia Sets the Stage for a High Stake Market Share Battle…

March 11, 2020:   Refinitiv today released a report on the latest development in the Oil market. According to Ranjith Raja, Oil Research Manager, Middle East and North Africa, Refinitiv, the Benchmark crude prices went into a tailspin on Monday morning trade following OPEC and its allies including Russia failing to agree on extending and deepening the output cut which expires at the end ......read more

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