Saudia Arabia, June 12, 2018: The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank Group, and Asia Alliance Bank, a Joint-Stock Commercial Bank in the Republic of Uzbekistan signed today a line of Murabaha Trade Financing Agreement.
This is the first operation of ITFC in the Republic of Uzbekistan, and it marks the start of the implementation of the US$ 100 million Framework Agreement, signed between the Republic of Uzbekistan and ITFC on the 6th March 2018.
“The purpose of the Framework Agreement is to find ways and means to ensure close cooperation and coordination of efforts between ITFC and the Government of Uzbekistan, and to pave the way for a strategic partnership between the Parties” commented Eng. Hani Salem Sonbol, CEO ITFC.
The main area of cooperation ......read more
Organized by ITFC & UNDP - Uzbekistan
Saudi Arabia, May 22, 2018: The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank Group, Ministry for Foreign Trade of the Republic of Uzbekistan and United Nations Development Program (UNDP) in Uzbekistan have collaborated together to hold the first Trade Finance workshop titled “Trade Finance as a Key Factor in Trade Promotion” .
“ITFC is aspiring to play a pivotal role in the development of Islamic Trade Finance in Uzbekistan. ITFC and the Government of Uzbekistan signed USD 100mln Framework Agreement to finance pre-export and import activities in the country. ITFC is gearing itself to work with its partners –namely, UNDP and Turk Eximbank to promote Islamic Trade Finance among the Uzbek banks and ......read more
FII 2018 taking place from October 23rd to 25th 2018 in Riyadh, Saudi Arabia
Hosted by the Public Investment Fund, the 2018 program will continue to explore the trends, opportunities and challenges shaping the global investment landscape
2018 edition will build on the success of last year’s inaugural event, which brought together over 3,800 participants from more than 90 countries
Riyadh, 8 May 2018: Under the Patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud, and the leadership of HRH Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince, Deputy Prime Minister, Chairman of the Council of Economic and Development Affairs and Chairman of the Public Investment Fund (PIF), PIF has announced the second Future Investment Initiative (FII), which will take place from ......read more
May 07, 2018 : The General Directorate of Education in Asir Region concluded its program to introduce parents and educate them about the regulations for admission of new male and female students and the registration mechanism in "Noor" system for joining the first grade, which was organized by the Department of Testing and Acceptance of Asir Education for 6 days under the sponsorship of Al -Jazeera Paints in two famous commercial complexes in the region.
The Assistant General Manager of Education for Educational Affairs Mr. Saad Al-GOOni has viewed the start of the program in the presence of Testing and Admission Manager Department, Mr. Issa Al-Hilali, while some of the citizens praised the efforts of the team to provide services and help to end registering their sons and daughters and overcoming technically ......read more
Saudi Arabia’s ICT spend to reach US$ 40 billion this year
Trend Micro participates in Smart Transformation Summit as strategic partner
May 2, 2018 - Dubai, UAE
Saudi Arabia’s digital transformation continues to burgeon with reports showing that the Kingdom’s ICT spend grew 6 per cent in 2017 to over US$36 billion and is predicted to expand further this year to reach the value of US$ 40 billion.
With the pace of KSA’s digitization continuing in rapid acceleration, Trend Micro, a global leader in cybersecurity solutions, emphasized the need for a modernized, integrated and secured system, noting the serious privacy and security challenges that come with a vast web of interconnected technologies.
Speaking at the Smart Transformation Summit in Riyadh, Dr. Moataz Bin ......read more
Move enables LUMINA to link the UK, UAE and KSA markets for capital flows and M&A deals
Ex-PwC Corporate Finance head for Saudi Arabia, Andrew Nichol, joins the specialist corporate finance firm as Partner to lead KSA coverage
Follows recent announcement of Ex-Emirates NBD CEO Rick Pudner as Executive Chairman to lead the firm’s expansion across the UK and Middle East
Endorses the firm’s position as a premier M&A and Corporate Finance adviser for the mid-market
Dubai, United Arab Emirates/ Riyadh, KSA; 1 May 2018: Specialist corporate finance firm LUMINA expands into KSA, launching its third geographic presence since the start of 2018. Andrew Nichol’s appointment anchors its expansion strategy in KSA and enables LUMINA to link three major markets – KSA, UAE, and the UK – for ......read more
Saudi Arabia, April 29, 2018: The REIT market in Saudi Arabia continues to expand and now surpasses a market capitalisation of USD 2 billion. The number of listed REITs doubled in the last two quarters; with 12 REITs listed on the Tadawul at the end of Q1 2018.
Raya Majdalani Knight Frank Saudi Arabian Research Manager, commented, “REITs initially traded at a significant premium to Net Asset Value (NAV). This was mainly attributable to large amounts of capital seeking exposure to these REITs compared to the size of the investable universe. Following initial buoyancy, most REITs have pared back early gains and are currently trading below listing price. As a result, price to NAV has dropped over the last two quarters, moving closer in line with more mature markets.”
To date the investment strategy for ......read more
World’s leading security, fire protection, safety companies target Kingdom’s US$6.02 billion market
Dubai, UAE - April 24, 2018: Intersec Saudi Arabia 2018 opened today (24 April) in Jeddah, with 150 exhibitors from 20 countries looking to network and generate fresh business opportunities in the Kingdom’s US$6.02 billion security, safety and fire protection market.
The 2nd edition of the annual showcase runs until 26th April at the Jeddah Center for Forums & Events, with 500 brands enticing an expected turnout of 5,000-plus Saudi trade visitors across its three-day run.
The 69 percent international representation is underlined by the world’s top security companies on board in 2018, including the show’s official launch partners comprising Hikvision, Dahua Technologies, ......read more
KSA; 19 April 2018: Ashridge Executive Education, with over 20 years of experience in training regional business leaders, is focusing on helping Saudi businesses to effectively execute their strategy for growth. As companies in Saudi Arabia face the challenges of digital disruption, a relatively young workforce, and changing customer demands, it is imperative to turn strategies into actions that will generate results.
To help senior managers formulate plans to effectively implement them, Ashridge is delivering a three-day executive program on Translating Strategy into Action for Saudi business leaders from 1st to 3rd May at the Hult campus in Dubai Internet City. Ashridge faculty can also conduct the programme at the premises of any company in Saudi.
Translating strategy into action requires managers to ......read more
Jeddah, Kingdom of Saudi Arabia – February 21, 2018: Avaya, a leading global business communications company, announced today that it has signed a Memorandum of Understanding (MoU) with Jeddah’s University of Business and Technology (UBT) to explore education initiatives in the Kingdom of Saudi Arabia.
The MoU was signed at the 7th Gulf Education Conference & Exhibition, taking place February 20-21 on the UBT campus in Jeddah, by Fadi Hani, Vice President, Avaya, Middle East, Africa and Turkey, and H.E. Professor Osama A. Jannadi, Rector of UBT. Avaya and UBT will share knowledge and expertise to form cooperation in the fields of higher education, corporate education and community service. The MoU covers internship and co-operative education programs, and events, seminars and workshops, as well ......read more
Event organisers announce 5000+ visitors attended HVACR Expo Saudi, and co-located FM EXPO Saudi & Saudi Clean Expo last week in Jeddah.
For the first time, the 2019 co-located events will take place in the Saudi capital at the Riyadh International Convention & Exhibition Centre from 14-16 January.
Saudi, January 24, 2018: More than 5000 visitors who attended last week’s HVACR Expo Saudi and co-located FM EXPO Saudi & Saudi Clean Expo marked an 18% increase in attendance when compared to the previous year’s edition, announce event organisers dmg events Middle East, Asia & Africa.
“A spike in the turnout of visitors to this year’s expos are a clear indicator that growing HVAC-R and Facilities Management sectors in Saudi demand a dedicated platform where industry ......read more
MEPCO showcases its latest product innovations to regional and international audiences at Saudi Arabia’s largest industrial gathering
Wholly-owned subsidiary WASCO exhibits its core operations alongside MEPCO
Riyadh, Saudi Arabia; 24 January 2018: The Middle East and Africa’s leading vertically-integrated paper manufacturer, the Middle East Paper Co. (MEPCO), showcases its latest product innovations serving the packaging industries at the 15th edition of the Saudi Print, Pack, Plastics, and Petrochem Exhibition. MEPCO participate alongside its wholly-owned waste management arm, WASCO, which is responsible for supplying MEPCO roughly 90% of its raw material.
Commenting on MEPCO’s participation at the exhibition, Eng. Sami Safran CEO of MEPCO said:
“MEPCO is a KSA-based entity with ......read more
Dubai, UAE, January 23, 2018: CBRE Group, Inc. (NYSE:CBG) today announced that Fortune magazine has named the company a World’s Most Admired Company in the real estate industry for the sixth consecutive year.
Fortune rates companies on nine attributes related to corporate performance. In 2018, CBRE was ranked second overall in the real estate sector (behind only Host Hotels & Resorts) and was among the top three companies on all nine attributes, including global competitiveness, people management, financial strength and long-term investment.
“Our continued recognition as a Fortune Most Admired Company reflects our people’s deep commitment to excellence and producing great outcomes for our clients every day. We are very proud of their accomplishments,” said Bob Sulentic, president ......read more
In our view, recent shifts in Saudi Arabia's political power • structures and societal norms, alongside various regional stresses, could increase the risk of policy mistakes that could result in increased domestic and geopolitical tensions.
However, we also consider that these structural reforms could empower Saudi citizens and make Saudi Arabia more attractive to investors over the medium term, as the authorities intend.
We are therefore affirming our 'A-/A-2' foreign and local currency sovereign ratings on Saudi Arabia.
The stable outlook is based on our expectation that the Saudi authorities will take steps to consolidate public finances and maintain government liquid assets close to 100% of GDP over the next two years.
On Nov. 19, 2017, S&P Global Ratings affirmed its ......read more
DUBAI November 09, 2017: EFS Facilities Services, a regional leader in facilities management services across the Middle East, Africa, South Asia and Turkey, has been awarded a contract to launch an integrated facility management venture at King Abdullah Economic City (KAEC).
Under the terms of the agreement, EFS will provide integrated facilities management services across the city, including catering, transportation and value-added services such as the integration of smart technology and Computer Aided Facility Management (CAFM). The contract will run over an initial period of three years.
“King Abdullah Economic City is a major social and economic growth driver for the Kingdom of Saudi Arabia. As the city grows in complexity so too does its need for state-of-the-art integrated facilities management,” said ......read more
Two-day summit to cover financial regulation and strategy as Kingdom invests for a future without oil
Al Khobar, 7th November 2017: Riyad Bank will, once again this year, be one of the Platinum Sponsors of the 5th Annual Saudi Trade Finance Summit, taking place 14th to 15th November at the Mövenpick Hotel Al Khobar, Saudi Arabia. This exclusive Trade Finance event in Saudi Arabia is organized by Dubai based QnA International.
The Summit will focus on the advancement of systems facilitating the Kingdom’s strong legacy of trade, by bridging the gap between CFOs and financial institutions. Now in its fifth year, the Summit enjoys a reputation for being the most influential trade finance event in the Kingdom.
Discussion over the two days will focus on the financial regulations, strategies and ......read more
KSA; 17 October 2017: Today’s organizations are awash in a sea of continuous change and new skills are needed for business leaders to succeed; and this applies to HR leaders too. Based on their experience of working with HR leaders in Saudi Arabia and other GCC countries, Ashridge Executive Education has customized its five days programme on ‘Advanced HR Strategy and Impact’, to help regional HR practitioners to lead their organization through change, develop their coaching skills, add greater value as consultants and formulate a winning HR strategy for their companies.
According to Rory Hendrikz, Managing Director of Ashridge Middle East, “In Saudi Arabia there is now a greater awareness of the comprehensive role that HR leaders play in development of leadership skills. With the emergence of ......read more
Business leaders highlight key opportunities posed by government investments to advance the adoption of HR technology systems, ahead of the HR Tech Saudi Summit
Dubai, October 11, 2017: Delegates at the HR Tech Saudi Summit taking place on November 20 – 21, in Riyadh, Saudi Arabia, will enjoy a unique opportunity to discuss how government investments worth SAR 8.3 billion will pose new opportunities for businesses to transform HR practices.
The government of Saudi Arabia pledged the multi-billion Riyal investment under Saudi Vision 2030, supporting a number of advancements in people and workplace development across key growth sectors. Addressing how these developments will transform business, the HR Tech Saudi Summit will include discussion on such pertinent topics as implementing Performance ......read more
The International Islamic Trade Finance Corporation (ITFC) participates in the “Agroinvest” Forum Astana 2017 in Kazakhstan
Dubai, UAE, August 27, 2017: The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group participated in “Agroinvest” Forum Astana 2017 organized by “KazAgro”, the National Management Holding with the official support of the Ministry of Agriculture of the Republic of Kazakhstan. The Forum provided a platform to discuss the development of agro-industrial complex of Kazakhstan, and projects in the sphere of agriculture and investment. The Forum took place in the Hilton Garden Inn Hotel in Astana on August 25, 2017.
Eng. Hani Salem Sonbol, CEO ITFC reemphasized IsDB Group and ITFC’s role in supporting ......read more
Expansion into the Kingdom Strengthens Two Decade Long Relationship with Home Centre
27 August, Dammam – KSA: Intercoil International, UAE’s leading manufacturer, distributor and retailer of total sleep solutions across the MENA region, recently commenced operations at its new manufacturing facility in Dammam, Saudi Arabia. The firm’s entry into the Kingdom with an investment of 20 million SAR, marks a major milestone in the company’s growth outside the UAE.
The new state-of-the-art facility which, spans over a gross area of 7,000 sq. meters and mirrors its UAE facility, will manufacture a comprehensive range of orthopaedic mattresses. The facility will begin production with a daily capacity of 500 mattresses with plans to gradually double mattress capacity over the next three years. ......read more
LONDON (S&P Global Ratings) Aug. 9, 2017: In a Credit FAQ titled "Potential Implications Of Qatar Boycott For Gulf Cooperation Council Sovereigns," published today, S&P Global Ratings responds to questions that have surfaced in recent discussions with issuers and investors about the implications of the Qatar boycott by a group of states for the Gulf Cooperation Council (GCC) sovereigns.
S&P Global Ratings believes that the impact of a group of states cutting diplomatic ties, as well as trade and transport links, with Qatar on June 5, 2017, may not be confined to within Qatar's borders. We expect that political tensions within the GCC will persist over the next few years, and believe that the boycott of Qatar has illustrated deeper fissures within the group than were previously evident.
For the most ......read more
Under the patronage of the Deputy Governor of Medina Region
Medina, KSA – June 14, 2017: Under the Patronage of H.R.H. Prince Saud Bin Khalid Al-Faisal, Deputy Governor of Medina Region, the Chairman of the Islamic Development Bank (IsDB) Group, H.E Dr. Bandar bin Mohammed Hamza Hajjar and the Chairman of the Chamber of Commerce and Industry of Madinah H.E Mr. Munir Mohammed Nasser bin Saad signed a MoU for mutual cooperation and support the Chamber’s role in promoting the commercial and economic environment in the Medina region, and activating its participation in achieving the goals of the National Transition Program 2020 and the vision of Saudi Arabia 2030. The signing ceremony took place in the Office of H.R.H the Prince and was attended by the Chief Executive Officer of the International Islamic Trade Finance ......read more
Supporting access to energy through importing petroleum products and electricity are vital to economic growth and foster the socio-economic conditions in Mali.
Jeddah, May 21 2017: The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, signed a € 40 million Agreement with the Government of Mali, which was signed by Dr. Boubou Cisse, Minister of Economy and Finance Mali and Eng. Hani Salem Sonbol, Chief Executive Officer of ITFC. The signing ceremony was on the sidelines of the IDB Group’s 42nd Annual Meeting that took place in Jeddah, Saudi Arabia.
Mali is a non-oil producing Member Country which is also land-locked, where the import of petroleum products is vital and is a necessity for its economic growth. In addition, it supports other key industries such ......read more
In support of Saudi Vision 2030:
Agreements drive economic diversification in power, healthcare, oil and gas, mining and digital transformation of industry.
Riyadh, Kingdom of Saudi Arabia. May 21, 2017: Building on its more than 80 years of partnership and experience in the Kingdom, GE [NYSE: GE] has taken significant steps in supporting the delivery of Saudi Vision 2030, today announcing in partnership with the Kingdom a range of Memorandums of Understanding [MoU] and projects valued at $15 billion – of which almost $7 billion are GE technology and solutions – across multiple sectors and partners aimed at creating a truly diverse and sustainable economic platform.
Signed in the presence of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and President of the United States of America, ......read more
Jeddah – May 16, 2017 (Hilton – Al Qasr Hall): ITFC has organized a side-event during the IDB Group Private Sector Forum, in conjunction with the IDB Group 42nd Annual Meeting held in Jeddah-Saudi Arabia. Given the importance of this forum and the high profile audience that this event has attracted, ITFC has shown keenness to highlight its role, as an Islamic Trade Finance Institution, in contributing to the economic and social development of its member countries through trade finance and trade development. In addition, ITFC is seeking to use this opportunity to showcase its role in promoting the development of the Small & Medium-Sized ......read more
KSA, December 12, 2016: Al Habtoor continued its KSA expansion plan with the opening of Riyadh’s biggest truck servicing operation, by inviting 200 of KSA’s largest Truck Operators to view the world class facility and meet the AL Habtoor Saudi Arabia management team.
The open event was held on Wednesday, 22nd Safar 1438 AH, corresponding 23rd November, 2016. The ......read more
December 06, 2016 - Cognizant (NASDAQ: CTSH), a leading global provider of information technology, consulting and business process services, today announced the expansion of its operations in the Kingdom of Saudi Arabia (KSA) with the opening of a new office in Riyadh.
Cognizant’s expanded presence in KSA will enhance its existing operations in the Middle East and further enable ......read more
(Jeddah, 15th November 2016) - The only premier initiative for Trade Finance Development in the Kingdom will open its doors today at Le Meridien – Jeddah with the official endorsement of Jeddah chamber. With Saudi Arabia going through a major transformation and the National Transformation Plan attracting the public interest and inspiring private sector to contribute to the ......read more
The UAE and KSA secured 10th and 11th place from 22 countries assessed in terms of opportunity for ‘significant premium growth’ and 6th and 7th place respectively in terms of ‘least amount of risk’
Premiums in the UAE are projected to grow by 12% CAGR to 2020
Premiums in the KSA are projected to grow by 9% CAGR to 2020
Rise of internet and mobile technologies to ......read more
Zara, Virgin, Eataly and PAUL dominated the 6th edition of the of the renowned RetailME Awards in Dubai
Dubai, UAE, October 20, 2016: Azadea Group, the premier lifestyle retail company that owns and operates more than 50 leading international franchise concepts across the Middle East and Africa, has announced winning 6 awards through its prominent brands at the ......read more
“Fulfilled by SOUQ” and “SOUQ Selling Center” especially designed to support Sellers to grow their businesses and provide exceptional shopping experiences to the customers
Dubai, UAE, October 12, 2016: SOUQ.com, the largest online and marketplace platform in the Middle East hosted a highly engaging event to enable and empower sellers and ......read more
October 05, 2016 - Demonstrating its commitment towards the highest standards in quality, technology and hygiene, Dhofar Global, a leading supplier of hygiene care products in the Middle East, has signed a strategic partnership with ffuussTM, a hand dryer manufacturer and part of Spain-based OTS Group. The contract awards Dhofar Global the exclusive distributorship of ffuussTM air dryers in ......read more
MECSC’s Next Generation Events – connecting retail professionals across the Middle East
Dubai, UAE, October 4, 2016: The Middle East Council of Shopping Centres and the International Council of Shopping Centers gear up to host the much awaited Next Generation Networking Reception at Park Hyatt Hotel in Jeddah, KSA on Monday 10th of October from 6:30pm till ......read more
Third Annual Investment Conference to be held 5-6 October
McKinsey & Co to present key findings from the new‘Lions on the move II’ report
HE Sheikh Nahyan bin Mubarak Al Nahyan to attend as guest of honour
Dubai, UAE, October 4, 2016: Close to 400 business leaders and government representatives will meet in Dubai next week to discuss foreign investment ......read more
UAE, October 2, 2016 - The Arab Region’s most talked about CSR Forum will be happening on October 19, 2016 in Dubai. Taking place annually for the past six years, the forum has become known all over the Region and even beyond as a platform that promotes latest thinking and current philosophies around CSR and sustainability.
This year too, the forum will present fresh thinking and ......read more
EXTON, Pa., U.S.A.– July 13, 2016 – Bentley Systems, Incorporated, a leading global provider of comprehensive software solutions for advancing infrastructure, today announced a new Global Framework Agreement with Shell. The agreement serves to improve Shell’s capital project construction execution through automated 4D/5D construction management solutions provided by Bentley as a ......read more
UAE, June 29, 2016– The Arab-Brazilian Chamber of Commerce (ABCC) has revealed that major importers of pharmaceutical products from the UAE and the Kingdom of Saudi Arabia held fruitful discussions with Brazilian pharmaceutical manufacturers during a business matchmaking event in São Paulo -- a strategic meeting that could help further boost the two Arab countries’ trade ties ......read more
UAE ranked 7th in A.T. Kearney’s 2016 Global Retail Development Index (GRDI)
Saudi Arabia closely followed the UAE, ranked 8th
The GRDI evaluates the global markets offering retailers prime opportunities for growth
Dubai, UAE, 7 June 2016: The UAE was named as a leading global retail market in A.T. Kearney’s 2016 Global Retail Development Index (GRDI), titled ......read more
Vision 2030 and public investment fund reform could be a unique opportunity to reduce oil dependence and contribute to global effort for carbon emissions reduction, says London Business School expert
Dubai, UAE, 25 May 2016 – A successful restructure of the Saudi Arabian Public Investment Fund (PIF) would represent a great opportunity for Saudi Arabia to have a positive impact not only ......read more
UAE, May 23, 2016–Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, commemorates the 50thAnniversary of its establishment. To mark the occasion and in line with the wise directions and vision of the UAE’s leadership to consolidate the country’s prominent position in the region and the world, the company is poised to establish new ......read more
Pearl Initiative collaborates with Siemens Integrity Initiative and SABIC to host interactive workshops highlighting necessity for compliance and ethics
Majority of participating business leaders believe that the Saudi private sector will significantly advance corporate accountability practices within next five years
Riyadh-KSA: 17 May 2016 - Companies in Saudi Arabia are ......read more
Award launched in collaboration with the Saudi Society for Environmental Sciences - King Abdulaziz University sees participation from over 120 students across the Kingdom
Jeddah, Saudi Arabia, May 11, 2016: Binzagr Unilever Limited, the Saudi Arabian arm of one of the world’s leading FMCG companies, has announced the winners of its Environmental Research Award, an initiative that ......read more
Industry research reveals increased cyber-security threats in GCC
MENA compliance programs demand a balance of technology with human intervention
More regional countries will engage with risk national assessments in 2016
Compliance knowledge is about the right people not only the systems in place
Riyadh, Saudi Arabia: May 10, 2016 - Thomson Reuters, the world's leading source of ......read more
S&P Global conference to be held in Saudi Arabian capital for the first time
Forum to discuss ‘Economic Sustainability Through Strengthened Financial Markets’
Symposium takes place amid plans for sweeping economic reforms in Saudi Arabia
Dubai, UAE, May 9, 2016: S&P Global (formerly McGraw Hill Financial) will host its sixth annual Financial Leaders’ ......read more
Special Panel on Digital Ecosystem Planned for Euromoney Saudi Arabia Conference
Doha, Qatar: The Kingdom of Saudi Arabia’s financial sector is likely to encounter significant disruption from new financial technologies in the coming years, but could emerge stronger and more streamlined, according to experts gathering for the Euromoney Saudi Arabia Conference this May.
Financial ......read more
18 January, 2015 – Jubail, Saudi Arabia: Following the successful start-up of the first Solution Polyethylene facility in the Middle East in December, Sadara Chemical Company (Sadara) is well on track to set new paradigms in both Saudi Arabia’s and the region’s downstream industry.
The company, which sponsored and participated in the GPCA PlastiCon 2016 under the theme ......read more
14 December, 2015 – Jubail, Saudi Arabia: Sadara Chemical Company (Sadara), the world’s largest chemical complex ever built in a single phase, has successfully started up its first production plant, moving on schedule from the construction to the operational phase.
Sadara’s first product – Linear Low Density Polyethylene (LLDPE) – was produced in the ......read more
UAE, December 8, 2015 – Brazil and Saudi Arabia signed recently a Memorandum of Agreement (MoA) to open the Middle East to Brazilian beef exports, effectively drawing to a close a ban that has been in force for almost three years. The initiative was commemorated by a sanitary certificate handed by Brazil’s Minister of Agriculture Kátia Abreu, who represented the interests of ......read more
Mergermarket identifies Healthcare and F&B as Saudi Arabia’s most active M&A sectors. Thirty one major debt deals completed in 2015, excluding sovereign issuance
Largest deal was Aster DM Healthcare’s acquisition of 57% stake in Sanad Hospital; Savola Group linked with bid to acquire majority stake in Kuwait’s Americana Group; Saudi debt deals, excluding sovereign ......read more
This December experts from the US, Turkey, UAE, Egypt, UK, Saudi Arabia and other markets to provide Islamic finance industry with its asset allocation outlook for 2016
11 November 2015, Manama, Bahrain: The World Islamic Banking Conference (WIBC) 2015 will gather seasoned economists, asset managers and investment bankers who will provide a holistic view of asset allocation ......read more
QnA International organizes summit on trends and challenges on trade finance in Saudi Arabia
Dubai, November 2, 2015 - Dubai based QnA International is set to host the annual Saudi Trade Finance Summit in partnership with the Saudi Arabia arm of International Chamber of Commerce (ICC). The event now in its third edition, is an exclusive by-invitation only gathering of the most influential ......read more
UAE, November 1, 2015 - Gulf Navigation Holding PJSC (DFM: GULFNAV), the Dubai-based shipping company, has reported a substantial 123% profit growth at the end of the third quarter of 2015 compared to the same period the previous year. The company released its latest financial statement amidst its strong and consistent financial turnaround and continuous intensified efforts to address creditor ......read more
Jeddah, November 1, 2015: Retail industry leaders across the Arab world came together recently for NEXTGEN 2015, an event aimed at supporting the further development of the SAR 270 billion GCC retail industry.
The event, which was held at the Elaf Hotel in Jeddah, was organized by the Middle East Council of Shopping Centers (MECSC), a non-profit organization operating under the umbrella of the ......read more
• The market value of the MENA design industry surpassed USD 100bn in 2014
• UAE and Saudi Arabia are by far the largest overall design markets in the region, respectively totaling USD 27.6bn and USD 21.9bn in design revenues in 2014
Dubai, October 27, 2015: Dubai Design and Fashion Council (DDFC) revealed the results of the MENA Design Outlook, a ground-breaking study ......read more
October 11, 2015: BMJ, one of the world’s leading healthcare knowledge providers, will visit doctors, students and researchers across the Kingdom of Saudi Arabia (KSA) from October 12 to 17, 2015 to help them develop their research skills and learn how to write papers that can get published in top journals. Dr. Trish Groves, Deputy Editor and Head of Research at The BMJ and Editor-in-Chief ......read more
- From October 18th to 22nd
United Arab Emirates; September 22, 2015 – FAMOCO the French specialist of Android NFC readers just raised $4,5 millions and now aims at conquering the Middle Eastern market. The GITEX show, the 3rd largest technology event on the planet, is an opportunity for FAMOCO to meet its clients and gain prominence in the Middle East. FAMOCO exhibits at this event ......read more
United Arab Emirates ; September 9, 2015 - EQUITY, leader of governance and legal management software solutions for major corporations, continues its development and announces the signing of significant new contracts in the Middle East.
EQUITY, French governance and legal management solutions provider for large and medium corporations, announces the signing of contracts with new prestigious ......read more
Dr. Zeti Azi, Governor of Malaysia’s Central Bank, delivered the inaugural Keynote Address at historic forum in the UK
Dubai, United Arab Emirates, 1 September 2015: Ethical finance leaders from Europe, East Asia, the Middle East and Africa gathered today at a historic forum for the global responsible investments industry. The Global Ethical Finance Forum (GEFF), with the official ......read more
PA Consulting Group study shows organisations in UAE, Saudi, Qatar must develop staff to think creatively to boost productivity
Abu Dhabi, UAE, 30 August 2015: Management in the Gulf need to take more risks and develop staff to think creatively, according to a new global innovation survey designed to help companies stop wasting their best ideas and flushing hundreds of billions of dollars down ......read more
The kingdom’s leading financial institutions have renewed their support for the annual summit.
Riyadh, 27 August 2015: Riyad Bank, Banque Saudi Fransi and Saudi Hollandi Bank, three of the Middle East’s leading banks, have been announced as Platinum Sponsors of the 3rd Annual Saudi Trade Finance Summit 2015 – the largest and most influential gathering of trade finance ......read more
Buy-back of up to 50 million shares reflects confidence in business strategy and growth potential
Taipei, Taiwan – August 24, 2015 – HTC Corporation today announced that its Board of Directors has authorized a share repurchase program to restore investor confidence and increase shareholder value.
The share repurchase program, which will run over the course of the next two ......read more
-Deloitte: Risk appetite in the Middle East curbed
-Deloitte: Optimism in UAE drops to a net 46% from net 61% previously
24 August, 2015 – The continuation of low energy prices is impacting both optimism and risk appetite in the Middle East, according to Deloitte’s latest report “Global CFO Signals: CFO Sentiment Q2 2015 – Staying focused; remaining vigilant”. ......read more
Global best practice standards, customer service delivery and expert event management ensure QNCC’s overwhelmingly positive customer satisfaction rating
Doha, Qatar, 24 August 2015: Qatar National Convention Centre, the Middle East’s leading exhibition and convention centre, recently conducted a survey amongst its international and regional clients garnering feedback on its event ......read more
Egypt leads the region with five IPOs in H1, followed by Saudi Arabia with three IPOs
IPO of Saudi Ground Services Company on the Saudi Stock Exchange was the largest IPO in H1 2015
Nine MENA IPOs in Q2 2015 raising over US$2.1b
Dubai, 11 August 2015: H1 2015 saw 11 IPOs in the Middle East and North Africa (MENA) region, raising capital of over US$2.4b, according to EY’s ......read more
PAYFORT installments simplifies paying by monthly installments for region’s online consumers, announces availability through leading banks in MENA region
Dubai– 02 August 2015 - PAYFORT, the leading online payment service provider in the Arab world, announced today the launch of its installments service in the United Arab Emirates, Saudi Arabia and Egypt, a new service that makes ......read more
The Islamic finance industry has reached almost $2 trillion in total assets at the end of 2014
Dr. Sayd Farook will bring international expertise and track record to leading Middle East knowledge platform
21 July 2015, Dubai, United Arab Emirates: Middle East Global Advisors has appointed Dr. Sayd Farook as Vice Chairman and Chief Executive Officer.
Dr. Sayd Farook joins ME Global ......read more
Future Market Insights (FMI), in its latest report titled, “China First Aid Market Assessment and Opportunity 2014 - 2020”, projects the China first aid market to exhibit a CAGR of 6.3% between 2015 and 2020. Adoption of aggressive promotional campaigns are key factors driving growth of the market.
The report is focused on basic first aid products such as adhesive bandages, ......read more
UAE, July 20, 2015 -A delegation from the Saudi Food and Drug Authority (SFDA) recently visited Brazil to observe local cattle and poultry farms and slaughter houses. Also in attendance were key members of the Arab-Brazilian Chamber of Commerce (ABCC) such as Mr. Tamer Mansour, international relations manager, among others. The Ministry of Agriculture, Livestock and Supply (MAPA) reported that ......read more
UAE, July 15, 2015 - Al Hilal Bank, the progressive Abu Dhabi - headquartered Islamic Bank, has announced the resignation of Mr. Mohamed Jamil Berro as the CEO, a position he has held since the bank’s establishment in 2008. Mr. Berro explained that his resignation is due to personal reasons. The Board of Directors expressed their appreciation for Berro, commending his vital role in raising ......read more
Dubai, July 2015: Leading advertising agency Leo Burnett MENA collected an array of awards at the Cannes Lions International Festival of Creativity 2015, the world's biggest annual awards show and festival for professionals in the creative communications industry. The agency scooped a total of nine Lions at the prestigious event – which takes place every June in Cannes, France – ......read more
Written by Jameel Ahmad, Chief Market Analyst at FXTM
For the second successive week, global financial markets are commencing trading facing downside pressures with investors reacting unfavourably to the news that a “No” vote was declared victorious in the Greek referendum. While Tsipras is optimistic that the outcome of the referendum can be used as leverage for ......read more
This is now officially a Greek tragedy
In many ways, it is relatively easy to understand why the result was a No from Greece. There is little to lose, as a Yes to more austerity hardly was a great choice for a society on the brink of a social break down.
The vote clearly was not help by the fact that the actual vote: Yes or No was confusing. What did they actually say No to?
This ......read more
MEED says three data points show that markets fell during first half of 2015
• Project awards, mergers and acquisitions activity, and company earnings are all down by close to 30 per cent
• Average daily oil prices down by 46.9 per cent during first half of 2015
• Investor confidence has been subdued this year
Economic activity in the GCC fell by just under ......read more
Greece’s seeming hour-by-hour descent into chaos at the end of the second quarter has fashioned an intensely uncertain framework casting markets at the mercy of headline risk.
It is with that ever-changing caveat that Saxo Bank publishes its Q3 Outlook ahead of the Greek referendum on EU membership which, as things stand, will take place July 5.
The outlook for Q3, therefore hangs in ......read more
Three quarters of GCC employers feel the education system doesn't know what skills employers need
• 53% of employers rank lack of work experience as affecting nationals’ employability, with only 30% of GCC students having taken any work experience
• According to employers, communication skills (36%) and required skills and qualifications (22%) are further ......read more