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
Dubai, June 29, 2015: Cedar Management Consulting International LLC (Cedar), the global management consulting firm today announced that it has acquired the business and operating assets of IBS Publishing, the leading UK based financial technology research, publication and consulting firm. This includes their primary brand and operating platform - IBS Intelligence.
Since 1999, Cedar’s ......read more
June 28, 2015: Impact Plus, a leading Dubai-based ‘Business Knowledge’ facilitator offering accredited training programs in the Middle East and Africa, has launched three interactive and practical entrepreneurial development initiatives with an aim to reduce leadership deficit. The new US-accredited development programs -- Ana Montejah™, Certified Professional Graduate ......read more
UAE, June 24, 2015 - The Arab-Brazilian Chamber of Commerce (ABCC) has revealed that two Arab states were among the top importers of Brazilian shoes during the first quarter of 2015, demonstrating anew the steadily growing trade relations between the region and the South American nation. The ABCC cited figures recently released by the Brazilian Footwear Industry Association (Abicalçados) showing ......read more
June 24, 2015 - National Aluminium Products Company SAOG (NAPCO), one of the leading extruders of aluminium profiles in the GCC, has announced that its CEO, Robert Holtkamp, has received the award for ‘Most Outstanding Corporate Leader’ from Alam al-Iktisaad Wal A’mal (AIWA), Oman’s leading Arabic business magazine published by United Media Services. The 5th edition of the ......read more
DUBAI, 23 JUNE 2015. EY signed a conditional agreement to acquire Integrc, a privately owned, leading provider of governance, risk and compliance (GRC) services to companies that run SAP. The acquisition, expected to complete in August, will help cement EY’s position as an industry leader in SAP GRC services by further enhancing its end-to-end offering — from strategy to ......read more
41% of insurance companies in KSA and UAE believe there is a need to improve risk management framework
- KSA insurers rate “business taking ownership of risk” as the top challenge to strengthening the risk culture
- UAE insurers rate “lack of a strong regulatory regime and competitive pressures” as the top challenge
Dubai, 22 June 2015: Due to increasing ......read more
18 June 2015: SHUAA Asset Management Ltd. today announces that is has been awarded the “Best Regional Asset Manager” at Banker Middle East’s Annual Industry Awards 2015.
Organised by CPI Financial, the awards recognise institutions that are truly innovative pioneers in their respective areas of expertise, and are helping to shape the future of the industry in the region. The ......read more
According to EY’s 2015 Europe, Middle East, India and Africa (EMEIA) Fraud Survey:
DUBAI, 16 June 2015: EY’s Europe, Middle East, India and Africa (EMEIA) Fraud Survey, Fraud and corruption – the easy option for growth?, has found that many businesses still do not have the basic building blocks in place for effective compliance. Only 52% of MENA respondents stated they had an ......read more
55 brands receive Superbrands recognition at Gala Event
Dubai, United Arab Emirates, June 16, 2015: Superbrands, the independent authority and arbiter of branding, announced that ‘Eros Group’ has won the coveted 'Brand of the Year' award at the 11th annual Superbrands tribute event, which was held at the Intercontinental Hotel in Dubai Festival City. Fifty-five leading ......read more
Advancing towards its vision of leading the retail sector in the Middle East
Khobar, Saudi Arabia, 8th June 2015: eXtra (United Electronics Company) has announced a Memorandum of Understanding (MOU) sent to Mohammad Yousuf Sager & Co., stating its intention to acquire 51% of the Company. The basic conditions of the MOU are that the offer will be considered exclusively for nine months after ......read more
UAE, June 08, 2015 - Al Hilal Bank recently hosted the third preparatory session for the United Arab Emirates Banks Reception scheduled to take place as part of the 2015 Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) running from October 9 to 11, 2015 in Lima, Peru.
The meeting was organized at the Al Hilal Bank headquarters in Abu Dhabi’s Al Bahr ......read more
Dubai, June 8, 2015: The widespread adoption of technology has resulted in the introduction and acceptance of a multitude of devices and applications that have significantly transformed the way consumers manage their life. Technology has impacted every aspect of our lives and banking is not an exception; it has played a pivotal role in changing the structure and very nature of banking. ......read more
UAE, June 06, 2015 - Al Hilal Bank has announced that it was named ‘Best Islamic Financial Institution’ in the UAE and in Kazakhstan at Global Finance magazine’s 8th Annual Awards for the World’s Best Islamic Financial Institutions. The recognition affirms Al Hilal’s exceptional ability to ensure safety and security for its customers while developing new and ......read more
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
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
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
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
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
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
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
IT decision-makers across ten countries highlight financial losses and regulatory concerns due to spate of malware, phishing, credential grabbing and session hijacking attacks
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
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
-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
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
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
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
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
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
H.E. Dr. Ibrahim Al-Assaf, Minister of Finance, to make opening address on Kingdom’s Reinvigorated Economic Strategy
Riyadh, Kingdom of Saudi Arabia: H.E. Dr. Ibrahim Al-Assaf, Minister of Finance, Kingdom of Saudi Arabia, will be the first in a series of distinguished speakers at the Euromoney Saudi Arabia Conference this week, which takes place from 5-6 May at the Al Faisaliah ......read more
Tenth Anniversary Conference Set to Be One of the Most Significant Financial Meetings Held in the Kingdom in 2015
Riyadh, Kingdom of Saudi Arabia: Some of the Kingdom’s most important companies, along with the world’s leading financial institutions, are supporting the upcoming Euromoney Saudi Arabia Conference, set to take place in Riyadh next week.
The event, which is co-hosted ......read more
German manufacturer forges alliance with local distributor Abdul Lateef Jameel Electronics & Air-conditioning Co Ltd to enhance regional footprint
Dubai, UAE (27 April 2015) – Global home appliance manufacturer, Bosch Home Appliances, has announced its foray into the Saudi Arabian market through strategic alliance with one of the leading local distributors, Abdul Lateef Jameel ......read more
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
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
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.
The 3-day event included exhibitions, seminars and expert forums.
AlKhair Capital, Saudi Arabia’s leading investments institution, participated in the Stock and Financial Investment Exhibition from April 5 – 7, 2015 at The Hilton, Jeddah.
The Stock and Financial Investment ......read more
Euromoney Saudi Arabia Conference’s Tenth Anniversary Marks Period of Unprecedented Change in Kingdom
Riyadh, Kingdom of Saudi Arabia : Saudi Arabia has gone through a decade of momentous change, with the Kingdom’s entry into the World Trade Organisation in 2005 helping to kick-start a period of rapid economic growth. With a number of major initiatives set to take place in 2015 ......read more
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
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
Positive market development is raising the levels for all
A recent study by The Boston Consulting Group shows that Middle East banking revenues continued to grow and reach double-digit rates in 2014 with a 10 percent increase, while profits rose by 14.7 percent. Increases in operating costs exceeded revenue growth by 10.7 percent. At an aggregate level, provisions for bad loans decreased by ......read more
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
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
Implications and Opportunities Set to Be Discussed at Euromoney Saudi Arabia Conference
Riyadh, Kingdom of Saudi Arabia
The opening of the Saudi Stock Exchange (Tadawul) to foreign investment could be one of the most important financial events of the year, according to experts preparing for the Euromoney Saudi Arabia Conference, taking place from 5-6 May 2015.
A report by Jadwa Investment ......read more
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
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
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
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
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
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
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
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