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Ratings On Saudi Arabia Affirmed At 'A-/A-2'; Outlook Stable

Overview 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. Rating Action On Nov. 19, 2017, S&P Global Ratings affirmed its ......read more

EFS Facilities Services Wins Integrated Facilities Management Contract With King Abdullah Economic City

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

Riyad Bank participate as Platinum sponsor of Saudi Trade Finance Summit

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

Ashridge offers coaching for Saudi HR leaders to become strategic partners in organizations

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

Saudi Arabia's Vision 2030 to transform businesses with tech investments worth SAR8.3 billion

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

ITFC Supports Investment in the Agriculture Sector in Kazakhstan

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

Intercoil Commences Operations at its New 20 Million SAR Manufacturing Facility in Saudi Arabia

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

Credit FAQ Discusses Potential Implications Of Qatar Boycott For Gulf Cooperation Council Sovereigns

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

MoU between the Islamic Development Bank Group and the Chamber of Commerce and Industry in Medina to Support the Dates Sector

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

ITFC Fuels Mali's Energy Sector With € 40 Million Agreement

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

Saudi Arabia and GE announce raft of MoUs and agreements worth $15 billion in industrial project development and cross-sector capacity building

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

The International Islamic Trade Finance Corporation (ITFC) Supports SMEs and Private Sector in Member Countries

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

Alawwal bank wins 'Best Retail Bank' in Saudi Arabia at the Asian Banker awards

Riyadh, Kingdom of Saudi Arabia – 08 May 2017:  Alawwal bank was named the 'Best Retail Bank' in Saudi Arabia 2017 at the Asian Bankers, International Finance Excellence Awards held at the Ritz Carlton in Dubai on 20 April.  The award recognises Alawwal bank's customer centric approach and focus on innovation in products, services and its digital channels.  "We are delighted and honoured to win this prestigious award. It's a wonderful recognition of the efforts that has gone in to developing and growing Alawwal bank's retail business over the past few years. Our focus on delivering products our customers wants in the way they want them is paying off" said Soren Nikolajsen, Managing Director at Alawwal bank. Earlier this year Alawwal bank launched its first digital-only branch, ......read more

QNB Group inaugurates its Riyadh branch in Saudi Arabia

QNB Group CEO: Entry into the Saudi market is due to QNB’s competitive edge Riyadh, 6th May 2017:  QNB Group, the largest financial institution in the Middle East and Africa, has inaugurated its branch in Riyadh, Kingdom of Saudi Arabia (KSA). Senior bank officials and distinguished representatives from the banking and business sectors attended an inauguration ceremony held under the patronage and presence of H.E. Dr. Ahmed bin Abdul Karim Al-Khulaifi, Governor of the Saudi Arabian Monetary Authority (SAMA), H.E. Sheikh Abdullah Bin Saud Al Thani, Governor of Qatar Central Bank, Mr. Ali Ahmed Al-Kuwari, QNB Group CEO, and a number of Qatari diplomats.  Through its branch, located in the Saudi Capital of Riyadh, and its business hub extending along King Fahd road, QNB Group will provide a comprehensive suite of ......read more

Huge growth opportunity in Saudi Arabia's USD 20-billion facilities management sector, says MEFMA

Kingdom biggest spender in GCC for FM services Saudi Arabia, May 03, 2017 The facilities management (FM) sector in the Kingdom of Saudi Arabia (KSA) remains a largely untapped market, an ‘emerging giant’ that offers huge growth opportunities for regional FM players looking to expand and innovate on their services in the Kingdom, highlighted experts from the Middle East Facilities Management Association (MEFMA) which held a workshop and networking event recently in Riyadh, which was sponsored by Advanced Facilities Management. The MEFMA Report “FM in Saudi Arabia – an Emerging Giant” has revealed that the Kingdom continues to hold the largest share in Gulf FM spending, accounting for about 55 per cent of total expenditure. Although the KSA market is currently valued at USD 20 billion, it is still ......read more

Robust Middle East activity despite global dip: Baker McKenzie Report

Cross-border M&A made up 49% of all deal value and 35% of all deal volume in Q1 2017 North America was a safe haven for deals in Q1 2017  UAE dominates deal volume for cross-regional Middle East M&A KSA leads by deal value for cross-regional Middle East M&A   Jeddah: Global cross-border M&A activity continued to dip as political turbulence and economic uncertainty become the new normal for dealmakers, whilst deal flow in the Middle East remained stable, according to Baker McKenzie's Cross-Border M&A Index*.  The global Index, which tracks quarterly deal activity using a baseline score of 100, decreased to 218 for Q1 2017, down 17% from the prior quarter and 9% from Q1 2016. In Q1 2017, cross-border M&A made up 49% of all deal value and 35% of all deal volume. North America ......read more

Wadi and Al Rajhi Bank announce new partnership

Wadi.com, KSA’s fastest growing e-commerce platform, announces its latest and first of its kind partnership with KSA’s leading bank Kingdom of Saudi Arabia, April 9, 2017 – Wadi.com, KSA’s home-grown online shopping marketplace, today announced a new strategic partnership with one of KSA’s most trusted banks, Al Rajhi Bank. This unique collaboration between the region’s fastest growing e-commerce platform and KSA’s largest islamic bank is a sign of the growing importance of e-commerce in the country.  The long term strategic partnership will include a series of exclusive offers over the coming months and commences with a generous welcome offer for all Al Rajhi customers. From 6th – 15th April, 2017, all Al Rajhi credit and prepaid card holders will receive 10 percent off on all ......read more

Xylem Opens New Office in Saudi Arabia

Dubai, UAE/Saudi Arabia, 9th April 2017 – Xylem Inc. (NYSE: XYL), a leading global water technology company, today announced the opening of a new office in Riyadh, Saudi Arabia. The new office is part of Xylem’s $35 million investment in the Middle East North Africa region, which includes additional resources to help provide localized products, services and capabilities in key markets throughout the region. “The opening of our Saudi Arabia office is an important milestone for our regional investment and supports our long-term strategy of providing sustainable water technology solutions to help solve the region’s water challenges. The new office enables us to be closer to our customers and develop smarter, bespoke solutions that fit their unique needs, which also allows us to increase our capabilities.” ......read more

Lives and Livelihoods Fund Approves $243 Million for Anti-poverty Projects in Support of Eight Countries

2nd meeting of the LLF Impact Committee in Riyadh approves major pipeline of $242.6 million in development projects for 2017 Representatives from Saudi Arabia, Qatar, UAE, the Bill & Melinda Gates Foundation, the Islamic Solidarity Fund for Development, and the Islamic Development Bank agree on project pipeline to lift poorest OIC countries out of poverty Projects approved in Tajikistan, Sudan, Djibouti, Niger, Mauritania, Cameroon, Uganda, and Guinea LLF is the largest multilateral development initiative in the Middle East and North Africa – releasing $2.5 billion in finance over five years Riyadh, 02 April 2017: Representatives from the Kingdom of Saudi Arabia, the State of Qatar, the United Arab Emirates, the Bill & Melinda Gates Foundation, the Islamic Solidarity Fund for Development, and the Islamic ......read more

Saudi Arabia to host TOP CEO Conference and Awards for the First Time

Event will gather together CEOs, CMOs, Presidents and VPs from across the region and beyond Riyadh KSA, April 1 2017:  For the first time, Saudi Arabia will host the ‘Top CEO Conference and Awards’ – an event which will see CEOs, CMOs, Presidents and VPs from across the Arabian Gulf region and beyond gather together on 10th and 11th April 2017 at Bay La Sun Hotel & Marina, King Abdullah Economic City.  The annual event, now in its third edition, serves to address the burning issues facing the corporate world today while also recognising the very best in GCC business leadership. It is organised by TRENDS magazine and INSEAD – the leading international business school – and will take place under the theme ‘Adapting to Disruption: New Roles, New Realities’, to reflect the ......read more

Accenture Launches Upgraded Banking Technology Platform at National Commercial Bank

Next-generation technology allows customers to benefit from faster, more advanced services Dubai, UAE, March 30, 2017:  Accenture (NYSE: ACN), the global professional services company, has successfully completed the core system replacement of the retail banking operations at the National Commercial Bank (NCB). The highly complex project which took approximately two years to complete, was part of NCB’s NextGen program, which was also undertaken with Accenture.  The implementation of the project marks significant successes and achievements across various fields within the business. The improved platform provides clients with a distinct banking experience, enriched with additional features and a 50 percent reduction in turnaround time for key processes.  The platform, which will be deployed across NCB’s ......read more

Amazon to Acquire SOUQ.com

Dubai, UAE, March 29, 2017:  Amazon (AMZN) today announced that it has reached an agreement to acquire SOUQ.com, an e-commerce leader in the Middle East. Joining the Amazon family will enable SOUQ.com to continue growing while working with Amazon to bring even more products and offerings to customers worldwide. “Amazon’s entry into the region reflects the visionary foresight of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, who launched Dubai Internet City in 1999 and adopted the e-commerce and online business legislation of 2002," said His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai. "Furthermore, it reiterates Dubai’s position as a regional and global hub for the world’s biggest and leading ......read more

ITFC and ATTIJARIWAFA BANK (AWB) to strengthen partnership by signing a letter of intent

ITFC and ATTIJARIWAFA BANK (AWB) to strengthen partnership by signing a letter of intent for supporting trade between Arab and African countries ITFC and ATTIJARIWAFA BANK (AWB) sign a Letter of Intent within the Framework  of the Arab Africa Trade Bridges (AATB) Program for supporting trade  between Arab and African countries during the 5th International Africa Development Forum Casablanca, March 19, 2017:  The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IDB) Group and Attijariwafa Bank Group (AWB) sign a cooperation framework to support trade development between Arab and African countries. The signing took place at the occasion of of the 5th International African Development Forum in Casablanca, Kingdom of Morocco, between Eng. Hani Salem Sonbol, CEO ITFC and Mr. ......read more

The Euromoney Saudi Arabia Conference Set to Examine Saudi Vision 2030

Government Leaders and Senior Bankers will Review Progress of National Transformation Programme and Opportunities for Businesses   Riyadh, Kingdom of Saudi Arabia, March 14, 2017:  One year on from the official announcement of the “Saudi Vision 2030” to diversify the economy and reduce the Kingdom’s reliance on oil, The Euromoney Saudi Arabia Conference is set to return to Riyadh to analyse progress made to date. The major conference will bring senior government representatives and leading financiers together to discuss a broad range of strategic issues, including the economic outlook for 2017, the progress of a number of mega-projects and the challenges and opportunities being created by Saudisation.  There will also be special sessions covering the Kingdom’s bond issuance programme, the ......read more

PROVEN SA: Providing Foreign Business Support Services in KSA

The leading business support service provider for corporate entities in Saudi Arabia  Providing turn key solutions for companies working within or looking to set up in the Kingdom of Saudi Arabia Specialising in range of services from corporate immigration to company representation and employee outsourcing Dubai, 14 February 2017:  Founded in 2009, Proven delivers business solutions to companies currently operating in or looking to branch out into the KSA. Proven are specialists in corporate immigration, employee outsourcing and recruitment, providing international companies with advanced regional insights and the necessary tools to successfully do business within the Kingdoms burgeoning markets.  Due to an increase in international interest, Proven expanded out of Saudi in 2016, and now holds offices in ......read more

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Islamic Finance: The Largest International Islamic Economic Gathering Takes Place Next Week in ...…

Africa Witnesses the Largest International Islamic Economic Gathering Next Week  The 40th Annual Meeting of the Board of Governors of the Islamic Development Bank Takes Place in Maputo MAPUTO, Mozambique, June 6, 2015 -- Dr Ahmad Mohamed Ali, President of the Islamic Development Bank Group (http://www.isdb.org), has stated that preparations are in full swing at the IDB Group for ......read more

Investment in M.E. offshore projects buoyant despite lower oil prices…

Middle East region bucks international trend with 14% increased E&P spend - Offshore Marine & Work Boats event to evaluate impact of lower oil prices on maritime industry   3 June 2015: Seatrade Offshore Marine & Workboats Middle East 2015 - the region’s leading event for the workboat and offshore marine industries - marks its return to the Abu Dhabi National ......read more

Rockwell Automation highlights PlantPAx: Integrated Control and Information, Delivered through The ...…

The company displayed world-class distributed control system (DCS) combined with plant-wide control technologies and unmatched scalability of Rockwell Automation Integrated Architecture® Abu Dhabi, UAE – 2nd June 2015 – The 3rd ISA Automation Conference & Exhibition 2015 dedicated for process automation in the Middle East successfully concluded at the St.Regis Hotel in Abu ......read more

“aafaq Islamic Finance” signs strategic MoU with University of Bolton's Centre for Islamic Finance…

UAE, June 2, 2015 - Institute of Finance & Management subsidiary of aafaq Islamic Finance, a leading provider of Islamic finance products and services in the UAE, has recently signed a Memorandum of Understanding (MoU) with the University of Bolton’s Centre for Islamic Finance, an initiative designed to facilitate research and promote the understanding of Islamic Finance through ......read more

Drake & Scull Engineering awarded series of major contracts worth AED 350 million in Oman in Q2 2015…

Oman, June 01, 2015 - Drake & Scull International PJSC (DSI), a regional market leader in the integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail, and Oil and Gas, and wastewater treatment, has announced that Drake & Scull Engineering Oman, a subsidiary of Drake & Scull Engineering, has ......read more

Gulf Capital Receives Dual Recognition for “Best Credit Fund” and “Best Private Equity Firm” in the ...…

Abu Dhabi- May 31, 2015– Gulf Capital, one of the largest and most active alternative investment firms in the Middle East, received dual recognition at the Banker Middle East Awards yesterday when its flagship GC Credit Opportunities Fund I was voted as the “Best SME Credit Fund” in MENA and when the firm received the “Best Private Equity Firm” accolade for the 5th ......read more

Thomson Reuters & Institute Of Finance Of Saudi Arabia Concludes 7th Compliance & Anti-Money ...…

KYC continues to be the most accurate way to identify transactions in MENA markets GCC compliance culture needs to be a corporate culture now MENA companies should perceive regulation as a driver for their business growth Compliance officers have to balance between handling regulation & managing commercial relations  Riyadh, Saudi Arabia, 26 May 2015: Thomson Reuters, ......read more

EMEA Financial Services Organizations Hit by Growing Web Fraud Threats…

IT decision-makers across ten countries highlight financial losses and regulatory concerns due to spate of malware, phishing, credential grabbing and session hijacking attacks STORY HIGHLIGHTS Almost half of surveyed organizations from UK, France, Germany, Italy, Spain, Netherlands, Sweden, Poland, UAE and Saudi Arabia experienced notable financial losses in past two years. 73% rate ......read more

Transform MENA Awards nominations unveiled…

Awards to recognise excellence in brand strategy and development Dubai, 19th May 2015 – The Transform Awards Middle East North Africa, for exceptional new and evolving brand and rebrand campaigns, has revealed those organisations who have made the shortlist. The awards recognise and share brand development work in the Middle East and North Africa region. Transform is unique in its ......read more

Riyadh Institute of Finance (RIF) appointed by CISI as its official training partner in Saudi Arabia…

-RIF will offer training programmes for CISI’s global qualifications including wealth and investment management qualifications – -Financial services professionals in Saudi Arabia to benefit from enhancements in their product and markets knowledge-- Riyadh, 14 May 2015 – The Chartered Institute for Securities & Investment (CISI) is pleased to announce that it has ......read more

STC Advanced Solutions to participate as ‘Technical Sponsor' for 10th National GIS Symposium in ...…

May 12, 2015: STC Advanced Solutions participates as the ‘Technical Sponsor’ of the 10th National GIS Symposium in Saudi Arabia, which is held from May 11 to May 14, 2015 at the Sheraton Dammam Hotel & Tower. The event is organized under the patronage of H.R.H. Prince Saud Bin Nayef Bin Abdulaziz, Governor of the Eastern Province & was inaugurated on behalf of the H.R.H. ......read more

Arabian Anti-Piracy Alliance named as REACT partner for the GCC…

UAE, May 12, 2015- REACT, an international not-for-profit cooperative association fighting the trade in counterfeit goods, has named the Arabian Anti-Piracy Alliance (AAA) as its strategic partner in the GCC in the efforts to combat piracy and the proliferation of counterfeit products. The AAA was selected by REACT for its contributions and extreme dedication in curbing piracy in the Middle East ......read more

Inbound deal value increases five-fold in Q1 2015: EY…

Q1 2015 MENA M&A deal value increases by 9% compared to Q1 2014 69% of MENA executives expect the deal market to remain stable in 2015 according to EY’s Capital Confidence Barometer Dubai, 05 May 2015: Announced deal value in MENA increased from US$8.2b in Q1 2014 to US$8.9b in Q1 2015, an increase of 9%, according to EY’s Q1 MENA M&A Update. In Q1 2015, 90 deals ......read more

Saudi Arabia “Prioritising Investment to Achieve Strategic Goals” …

Employment, Infrastructure, Education and Sustainable Growth are Top Priorities for Government – Minister of Finance  Riyadh, Kingdom of Saudi Arabia : The Kingdom of Saudi Arabia’s new leadership is prioritising investment in order to achieve sustainable growth and deliver a number of key strategic goals, according to H.E. Dr. Ibrahim Al-Assaf, Minister of Finance, Kingdom ......read more

Brazilian exports to Arab countries touch USD 1 billion in March 2015…

UAE, May 5, 2015 - Revenues from Brazilian exports to Arab countries accelerated for the first time this year in March 2015, demonstrating thriving mutual trade relations. The latest statistics released by Brazil’s Ministry of Development, Industry and Foreign Trade and compiled by the Arab-Brazilian Chamber of Commerce show that Brazil exported USD 1.036 billion worth of products to the ......read more

Euromoney Saudi Arabia Conference Starts on 5 May…

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Kingdom's Business and Finance Leaders Support Euromoney Saudi Arabia Conference…

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Bosch Home Appliances forays into Saudi Arabia…

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Greenstone Equity Partners and Charlemagne Capital join forces to attract investors for Magna MENA ...…

Jeddah, April 22, 2015: Greenstone Equity Partners, one of the largest independent fund placement firms in the Middle East, announced its collaboration with London-based Charlemagne Capital, a $2.2 billion Emerging Markets specialist group. Charlemagne is currently raising capital for the Magna MENA Fund, a sub-fund of Charlemagne Capital’s Magna Umbrella Fund Plc, which invests in a ......read more

Albilad Announces Results of 6th. Extraordinary General Assembly…

Dr. Al-Humaid: “SR 200 million profits for shareholders, a free share for each 4 shares and raising the bank capital to SR 5 billion” The goal of the capital increase is to enhance the Bank's financial solvency and retention of resources in operational activities. Riyadh, 15th of April 2015: Bank Albilad has announced the approved results of its 6th extraordinary general ......read more

Kingdom's Small and Medium Business Sector offers “Significant” Growth Potential…

Tenth Anniversary Euromoney Saudi Arabia Conference Examines Opportunities Arising from Increased Government Focus on SME Sector Riyadh, Kingdom of Saudi Arabia : Increased government focus on the small and medium enterprise (SME) sector in Saudi Arabia is likely to create significant opportunities for private capital, according to the organisers of the tenth Euromoney Saudi Arabia ......read more

Successful Presence for AlKhair Capital in the Stock and Financial Investment Exhibition in Jeddah.…

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Decade of Change Transforms Kingdom of Saudi Arabia's Economy …

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Deloitte responds to increasing demand for forensic services in Saudi Arabia and the region…

9 April, 2015 – With Saudi Arabia increasingly becoming a power house economy in the Middle East region and a significant source of capital to support the strengthening of the global economy, the rapid development of international and domestic business and the regulatory requirements to support it have led to a growing need for a wide range of financial advisory services in the ......read more

Henley & Partners Forges Partnership with UNHCR to Support Global Refugee Cause…

Dubai, 06 April 2015 - Henley & Partners announces an innovative partnership with the United Nations High Commissioner for Refugees (UNHCR) and donates more than USD 1 million to help the global refugee cause. Henley & Partners, the global leaders in residence and citizenship planning for wealthy individuals and families, has announced the creation of an innovative partnership with the ......read more

GCC banks continue double-digit growth momentum…

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The UAE Islamic banking sector is en route to achieve US$263b by 2019…

Sharia-compliant assets in the UAE crossed the US$100b milestone for the first time UAE Islamic banking industry was estimated to be worth US$127b in 2014 DUBAI, 29 MARCH 2015: The UAE is en route to achieve US$263b of Sharia-compliant assets by 2019 according to EY’s World Islamic Banking Competitiveness (WIBC) report. The industry was estimated to be worth US$127b in 2014, thus ......read more

A cautious response to the Royal Bonus: Mercer survey in Saudi private sector…

Very few private sector firms in Saudi Arabia have plans to follow a recent Royal initiative and pay Saudi nationals a special bonus, a new Mercer survey has found. The Mercer survey of 69 organizations with operations and employees in Saudi Arabia found that around 20% were planning to pay their Saudi nationals a bonus similar to the one recently announced for all Saudi nationals in the KSA ......read more

Investors Primed for Opening of Saudi Stock Exchange to Foreign Investment…

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GCC Board Directors Institute (BDI) Workshop held in Riyadh…

Foreign investment flows and shareholder confidence are directly linked to robust corporate governance, as revealed during the latest GCC Board Directors Institute (“BDI”) Workshop held in Riyadh this week. Dubai, 14th March 2015: BDI, the pre-eminent organization for boards and directors in the Gulf, delivered two workshops in partnership with Saudi Basic Industries Corporation ......read more

Digital migration to dominate discussions at 10th Retail Banking Expo & Forum…

Region’s leading annual industry conference adds new exhibition component to line-up as IT investment by MEA financial community hits US$4.3 billion in 2014; trend set to continue as customers demand faster, simpler, smarter access and products plus 24/7 connectivity The annual Middle East Retail Banking Forum & Expo returns to Dubai from 6-7 April 2015 for its 10th anniversary ......read more

Saudi Plastic & Petrochem and Saudi Print & Pack 2015 witnesses an attendance of 9700 trade ...…

March 3, 2015: Saudi Plastic & Petrochem 2015 and Saudi Print & Pack 2015 successfully concluded its 3rd-day run with an attendance of more than 9700 trade visitors. The shows, which were organized by Riyadh Exhibitions Company and held at the Jeddah Center for Forums & Events, witnessed the participation of more than 300 companies from 19 countries. During the two simultaneous ......read more

30% Surge in Jordan's E-Commerce Spurs Demand for Fraud Solutions…

Nation’s online shopping totals USD 200 million in 2014; payment solutions firm BPC to spotlight e-commerce and fraud solutions at upcoming banking tech summit BPC Banking Technologies, the leading provider of Open System payment solutions, today announced its participation at the 2015 installment of the Banking Tech Levant Summit in Amman, Jordan, over March 2 and 3. This edition of the ......read more

QnA International wraps up successful MICE Arabia Congress 2015…

Over 1800 business meetings arranged at this premier MICE & Business travel congress (Dubai, 1 March 2015) – The 3rd edition of MICE Arabia Congress, which was held on February 22-23, 2015 at the Ritz-Carlton Dubai International Financial Centre (DIFC), was concluded with success as it welcomed more than 300 attendees from some of the leading organisations in the Middle East involved ......read more

Euromoney Saudi Arabia Set to Examine Opportunities of Kingdom's Economic Diversification …

Issue of Diversification in the Spotlight Following Dramatic Fall in Oil Prices in 2015 Riyadh, Kingdom of Saudi Arabia: The need for greater economic diversification in the Kingdom of Saudi Arabia – and the opportunities that diversification will create for local and international banks – will be reviewed at the forthcoming Euromoney Saudi Arabia Conference 2015, which is set to ......read more

GCC Insurance industry value almost tripled; premiums increasing to US$18.4 billion…

UAE and KSA reported largest insurance markets in GCC with nearly 80% Gross Written Premium Dubai, UAE, 23 February, 2015: Regional and international bancassurance and insurance experts have gathered in Dubai today to discuss the impact of changing regulations, market trends and projections on driving profitability in the Middle East’s bancassurance sector. Banassurance, whereby ......read more

Saudi Plastic & Petrochem 2015 and Saudi Print & Pack 2015 to kick off on March 1 in Jeddah…

February 18, 2015 - Under the patronage of H.E. Dr. Tawfiq bin Fawzan Al Rabiah, Minister of Commerce and Industry, Kingdom of Saudi Arabia, the Saudi Plastic & Petrochem 2015 and Saudi Print & Pack 2015 shows will kick off for the first time in Jeddah on March 1, 2015. The two exhibitions, which are of the Middle East’s largest specialized trade fairs in the field of plastics, ......read more

Albilad Bank Finances Waad Holding's Academy Schools, the Largest Education Project in the Kingdom…

Bank Albilad has entered into agreement with Waad Holding Company to finance the construction of the company’s academy schools project in Jeddah city. Amounting to SR 150 million, the project represents one of largest deals in the sector. The agreement has been signed by Mr. Saleh bin Suleiman Alhabeeb, the bank’s Director General of Banking for Corporate Sector and Dr. Ahmed bin ......read more

Visa registers 12 percent growth in spend in first two weeks of Dubai Shopping Festival 2015…

Spending growth: Restaurants see 31 percent growth in total spend over the previous year; other high growth categories include consumer electronics (22%) and supermarkets (14%) Spending volume: Fashion retail accounts for highest total spend volume of US$151.2 MN Saudi Arabia and UK retain position as top spenders during DSF; Angola registers 97 percent surge in transaction volumes compared ......read more

Euromoney Saudi Arabia Conference Set to Mark Tenth Anniversary…

Major Event to Examine Key Issues Facing Kingdom’s Economy – from the Turbulent Oil Market to the Opening of Tadawul to Foreign Investors Riyadh, Kingdom of Saudi Arabia: The tenth anniversary edition of the Euromoney Saudi Arabia Conference is set to be its most significant yet, with a host of international and regional senior banking executives taking part during a period of ......read more

Huge demand from Global Investors for Pioneering Islamic Finance event in Bahrain…

550 plus delegates already signed up to hear top speakers at Global Islamic Investment Gateway    February 4th 2015, Manama: More than 550 delegates from over 80 countries have registered for the first Global Islamic Investment Gateway event to be held on March 2nd and 3rd in Bahrain. With four weeks to go, even more are expected to sign up for the event which is aimed at ......read more

Garmco and Metals Industries sign MOU for Technical and investment Co-operation…

UAE, February 8, 2015 - Gulf Aluminium Rolling Mill Company (GARMCO), the Bahrain-based international aluminium rolling mill and one of the largest downstream aluminium facilities in the Middle East, today (8 February, 2015) announced that it has signed a Memorandum of Understanding (MOU) for technical and operational co-operation with Dubai-based Metals Industries (MI), the holding company for ......read more

Ministry of Commerce & Industry, SABIC, Saudi Ploymers and Petro Rabigh support growth of plastic, ...…

February 5, 2015: Recent reports on the flourishing market for petrochemicals, plastics, printing and packaging in the Middle East have led the Kingdom of Saudi Arabia (KSA) to launch 26 projects at a total value of SAR 56.34 billion, with projects worth SAR 172.76 billion still in the planning stage. Many Saudi companies such as Saudi Basic Industrial Corporation (SABIC), Saudi Ploymers and ......read more

Al Adil's first outlet in India inaugurated by Karisma Kapoor…

Karisma Kapoor, the leading film star from Bollywood and Dr. Dhananjay (Jay) Datar, popularly known as Masala King jointly inaugurated Al Adil’s first outlet in India. Dr. Datar in a span of two and a half decades has turned Al Adil into a huge Business Empire, with 30 entities spread across the Gulf.  Dhananjay Datar, a Doctor in Business Administration, has been ranked No. 14 in the ......read more

USD 11,427 billion Arab World Exports to Brazil in 2014…

UAE, 4 February, 2015 - Brazil continues to cement its bilateral trade relations with Arab countries as reflected in a surge in exports from the region. According to statistics released by the Arab-Brazilian Chamber of Commerce (ABCC), collective exports from the Arab World to Brazil recorded a substantial increase in 2014 to reach a total of USD 11,427 billion. The key products imported from the ......read more

KSA's thriving economy drives 8 per cent per annum growth of printing sector…

Riyadh – January 27, 2015: The Kingdom of Saudi Arabia’s (KSA) USD 800 million printing industry is the oldest and biggest in the GCC and is growing at an annual rate of 8 per cent per annum. In spite of the availability and popularity of online editions, the printing of newspapers remains resilient with almost 5.2 million copies of dailies and 2 million copies of magazines published ......read more

Saudi logistics sector expected to reach SAR 67.5 billion by 2015…

Riyadh – January 12, 2015: The Kingdom of Saudi Arabia’s logistics sector is poised for further significant expansion in 2015. According to industry experts, the value of the local industry is expected to reach SAR 67.5 billion during this year. Saudi Arabia’s thriving sector is reflective of the entire GCC’s flourishing industry. In 2013, GCC countries secured the ......read more

Kingdom of Saudi Arabia accounts for 70 per cent of total GCC packaging market…

UAE, December 31, 2014 - The Kingdom of Saudi Arabia (KSA) maintains 70 per cent share of the GCC’s total packaging industry as per recent industry studies, with local business posting a 15 per cent annual growth. Due to a widespread use of plastic as a raw packaging material over glass and metal, packaging has emerged as one of the most active industries of the country, with demand ......read more

Visa aims to grow electronic payments as itmarks 20 years of collaboration with Dubai Shopping ...…

A partner of Dubai’s leading retail event since it began in 1996, Visa strengthens commitment to enhance the electronic payments ecosystem in the region 1.9 million Visa cards used for 9.8 million transactions during DSF 2014; International visitors spent US$578 million in UAE with Visa cards Top 3 spend categories at DSF 2014 were Clothing, Retail and Lodging Dubai, U.A.E.: 29 ......read more

Leading Insurance Broker in the GCC Expects Increasing …

Industry to Witness Rapid Growthas Employee Benefits become Determining Factor for Successful Recruitment in Region’s Competitive Business Environment DUBAI, United Arab Emirates: Insurance and savings penetration will continue to rise in 2015 due to developing regulations and increased awareness about the importance of financial security, according to Nexus Group, the region’s ......read more

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