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
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 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
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
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.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
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
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
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
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
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 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
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
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
Riyadh – December 22, 2014: The Kingdom of Saudi Arabia (KSA) has experienced a robust growth in its economy in recent years with a growth of around 4 per cent anticipated for the financial year 2014-2015. The country has diversified its business interest to various other sectors in a bid to lessen its reliance on its oil-based economy. However, KSA is determined to maintain its leading ......read more
UAE - December 18, 2014: Godrej Locking Solutions and Systems (Godrej Lockss), India’s leading player in locking and security solutions, plans to double its current market share in UAE in the next three years. Currently, Godrej Lockss enjoys 1 per cent share of UAE locking solutions market, which has a potential of approximately US$300 million, according to the company ......read more
In KSA and UAE, the level of consumer trust in insurers is just 52%, compared to 73% for supermarkets, 71% for banks, and 67% for pharmaceutical companies
The UAE and KSA ranked 13th and 18th respectively, out of 18countries surveyed across Europe, Middle East, Africa and India, in terms of trust in insurance companies
32% of UAE consumers and 49% of KSA consumers saying they were likely ......read more
Dubai, December 15, 2014:Dr. R. Seetharaman, Group CEO, Doha Bank, the leading private commercial Bank in Qatar, was honoured with “The ABLF Business Economist award” for his outstanding contribution in financial media in areas such as economics, financial markets, banking, finance and sustainable development through commentaries and opinions and for promoting bilateral trade and ......read more
Dubai, December 14, 2014:Dr. R. Seetharaman, Group CEO, Doha Bank, the leading private commercial Bank in Qatar, was distinguished as a ‘Banking Innovator’ at this year's Indian Innovator Awards, Entrepreneur of the Year. The Award function was held at Westin Dubai, on December 09, 2014. Leading Entrepreneurs and Bankers from GCC participated in this event.
Speaking at the ......read more
Here’s to 10 years of being the heart of Dubai’s economy
Al-Khair joins DIFC in its 10th anniversary celebrations.
The Dubai International Financial Centre, Dubai’s business centre is the illustrious gateway to the emerging markets of the Middle East, Africa and South Asia (MEASA). What started as a mission in 2004 to elevate Dubai’s position as a global financial ......read more
Riyadh – November 03, 2014: The Kingdom of Saudi Arabia (KSA) is the largest and fastest growing construction market in the Gulf, currently accounting for almost 40 per cent of projects in the GCC. Driven by public sector funding and overseen by regional municipalities, the bulk of the Kingdom’s expenditure is being utilized to develop five key areas – healthcare, hospitality, ......read more
Dubai, 02 November 2014: According to the EY report ‘Waves of change: The shifting insurance landscape in rapid-growth markets’, significant opportunities for growth are present in emerging markets such as Saudi Arabia and the UAE.
Gordon Bennie, EY MENA Financial Services Leader, says: “Insurance market growth has accelerated in countries where penetration rates were once ......read more
-Key Insights from Industry Forum inform first International Sport & Fitness Exhibition in Kingdom-
Jeddah, Saudi Arabia, 29 October 2014: Saudi Arabia’s first International Sport and Fitness (ISF Saudi) exhibition launches next month, promoting the importance of an active healthy lifestyle and providing an ideal platform for key stakeholders—businesses, organizations, ......read more
UAE –26 October, 2014 – For the second consecutive year, Standard Chartered Bank hosted a Macro-Economic briefing session titled: “Transition and Divergence” for its Corporate, Priority and Private Banking clients at Etihad Towers Hotel, Abu Dhabi on Sunday 26 October. Following the success of those sessions across the region last year, the Bank held similar briefings to ......read more
Muscat-Oman: 22 October, 2014 – “Islamic finance is growing at twice the rate of the traditional banking industry in its core markets, which include Malaysia, Indonesia, Turkey and the GCC countries. The industry currently boasts US$1.6 trillion in banking system assets,” said Mohammed Mahfoodh Al Ardhi, Chairman of the National Bank of Oman.
He added: “The GCC ......read more
Riyadh – October 20, 2014: The Kingdom of Saudi Arabia is one of the most lucrative construction markets in the Middle East, accounting for almost 39 per cent of GCC projects. The country’s construction sector is expected to grow by almost 7.2 per cent in 2014, driven by huge government investments into the development of large-scale infrastructure and construction projects. With a ......read more
Dubai, 15 September 2014: Alpen Capital Saudi Arabia has been licensed by the Capital Markets Authority (CMA) to commence operations. The company has established its first office in Saudi Arabia in the city of Riyadh and hired a team of professionals who are well versed with the Saudi Arabia market.
Alpen Capital Saudi Arabia will provide conventional & Sharia based corporate ......read more
Dubai, September 10, 2014:Doha Bank, the leading private commercial bank in Qatar, hosted a Knowledge Sharing Session event under the theme “Empowering SMEs” held recently at Doha Bank Tower, West Bay, Doha, Qatar. The Speakers at the event includedMr. Omran Bin Hamad Al Kuwari, CEO of EnterpriseQatar (EQ), Mr Hamad Khamis Al Kubaisi, Executive Director of Strategy and Business ......read more
Riyadh, 09 September 2014: Jadwa Investment, a leading Saudi Arabian investment management firm headquartered in Riyadh, announced that its “Jadwa Saudi Equity Fund” has been named the “Best Islamic Fund” by the Banker Middle East Product Awards.
The award was presented to Zaheeruddin Khalid, CIO and Head of Asset Management at Jadwa Investment, in recognition of the ......read more
• Large Saudi and UAE IPOs in the offing
• More countries issue Sukuk bonds
• European disinflation could spur European QE in Q4
Saudi and UAE IPOs are in the offing
The announcement by Emaar Properties that it would divest 15% or more in a public equity issue in its mall subsidiary is boosting investors’ risk ......read more
•Enjoy peace of mind with AXA insurance at a click of a button
•Travel anywhere across the world with AXA’s unique benefits
AXA Gulf – one of the largest non-life international insurers in the GCC which operates as AXA Cooperative in the Kingdom of Saudi Arabia, has announced the launch of its online Travel Insurance solutions in the country, thus offering its customers ......read more
Dubai, September 02, 2014: “The market volatility on account of changing financial market dynamics is an opportunity”, says Dr. R. Seetharaman, Group CEO, Doha Bank. “Oil prices posted their weekly gain as rising tension in Ukraine made market watchers nervous about additional sanctions on Russia and positive U.S. economic data lifted demand expectations. WTI was at US$95.96/ ......read more
Sharia-compliant Fund aims to achieve mid- and long-term capital growth
AlKhair Capital Saudi Arabia, the leading Saudi-based investments institution, has launched the AlKhair Capital Plus Sukuk Fund on June 1st 2014; its open-ended, Sharia-compliant investment fund for investment in fixed income markets.
The fund is aimed at generating regular income as well as achieving capital ......read more
• Rising geopolitical tensions and slowing global growth
• GCC markets remain steady in spite of increased global volatility
• Commodity prices soft on China bank data
GCC (excluding Saudi Arabia) equity markets stumble on policy changes – expect higher volatility ahead
The Saudi Arabian Index has moved steadily ......read more
Global Inbound Spend in Brazil with Visa-branded products was U$380M
Dubai, July 20, 2014 —Visa Inc. (NYSE:V), the leader in global payments, today released its final Visa Everywhere Travel Report for the 2014 FIFA World Cup Brazil, which analyzes travel data and cross-border spend on all Visa products, including credit, debit and prepaid payment cards.
The survey results ......read more
Company offers insurance products in line with customer needs
AXA Insurance in the Gulf – one of the leading non-life international insurers in the region which operates as AXA Cooperative in the Kingdom of Saudi Arabia, today announced special insurance offers that are bound to make the Holy Month of Ramadan even more special.
AXA Cooperative offers customers insuring their brand new ......read more
• New UAE debt issuance and Omani power IPOs’ bode well for future pipeline
• Stay defensive in GCC markets in high dividend stocks as the Holy Month approaches
• Saudi consumer and petrochemicals equities continue to offer value
• Equity and credit markets propped up by easy ECB money
GCC Debt and Equity issuance continues despite ......read more
Named ‘Fastest Growing Bank’ in both the Middle East and the UAE
Sharjah, UAE (June 7, 2014) - United Arab Bank (‘UAB’), the fastest growing bank in the Middle East, has reinforced its award-winning status by picking up a duo of accolades at CPI Financial’s Banker Middle East Industry Awards for 2014.
UAB has reaffirmed its leading position by being named both ......read more
The annual Banker Middle East Industry Awards is the Middle East’s foremost gathering of key players within the banking and financial services industry
(Dubai – June, 2014) – Some 500 top bankers and financiers from around the region came together at the Gala Dinner held at Jumeirah Emirates Towers in Dubai to celebrate their achievements. The top awards went to ......read more
June 05, 2014: Companies in the Kingdom of Saudi Arabia have streamlined their Corporate Social Responsibility (CSR) initiatives and have expanded their programs into undertakings that will greatly benefit the local society. Among those who have announced their strategic CSR-based plans is Al Falak Electronic & Supplies, which has set particular focus on playing a major role in the ......read more
Deutsche Bank announced today that is has been named Investment Bank of the Year by EMEA Finance Achievement Awards 2013, an award which highlights an institution that has delivered on some of the year's biggest and best deals across markets and geographies. Furthermore, the bank won several house awards for Best equity house in the Middle East, Best bond house in EMEA and Best depository ......read more
Company accelerates aggressive expansion across KSA
As part of its ongoing strategy and vision to increase its footprint within the Kingdom of Saudi Arabia, AXA Cooperative today announced the grand opening of its new shop at the Granada Mall in the centre of Riyadh.
As one of the most prominent landmarks in the Kingdom, opening a shop in Granada Mall clearly signifies AXA’s intent to ......read more
April 16, 2014: Al Hilal Takaful, an affiliate of Al Hilal Bank, has joined a global gathering of ‘Takaful’ leaders, experts and decision-makers to discuss the challenges, potentials and future of Islamic insurance at the 9th World Takaful Conference which began on Monday, April 14, 2014 and runs until April 15, 2014 at the Dusit Thani Dubai hotel. Over 400 industry leaders are ......read more
Over half of Saudi customers have complete trust in their financial services provider
Riyadh, 02 March 2014 – According to EY’s Global Consumer Banking Survey ‘Winning through customer experience’, confidence in the banking industry in KSA is on the rise, with improved sentiments over the past 12 months. Customers in KSA have a high degree of trust in their primary ......read more
New campaign reinforces company's commitment to launch insurance products in line with customer needs
AXA Insurance – one of the leading non-life international insurers in the region which operates as AXA Cooperative in the Kingdom of Saudi Arabia, today launched a new motor insurance campaign in the country.
The motor insurance campaign is a major step forward for AXA ......read more
New campaign focuses on employment opportunities for Saudi nationals with a world-class company that cares about people
Are you looking at an organization that fulfils your dreams and aspirations? Are you looking at a company that cares about its employees? Are you aiming for a company that offers the best environment where you can excel and grow? If your answer to any of the above questions ......read more
- Global Islamic banking assets with commercial banks are expected to reach US$1.72 trillion in 2013
- Islamic banking assets with commercial banks globally reached US$1.54 trillion 2012
DUBAI, 04 DECEMBER 2013: Global Islamic banking assets with commercial banks are expected to reach US$1.72 trillion in 2013, according to EY's latest World Islamic Banking Competitiveness Report ......read more
AXA Insurance – one of the largest and the leading non-life international insurers in the region which operates as AXA Cooperative in the Kingdom of Saudi Arabia [KSA], launches its most important Brand Campaign in KSA.
The campaign is part of AXA Cooperative's strategy to reinforce AXA's world-class standards in the insurance sector. The TV advert, outdoor and online campaign ......read more
Only UAE Bank to Offer Off-Plan Financing to Non Residents
Dubai-UAE: 16 November, 2013 - Noor Islamic Bank (Noor) has rolled out attractive sharia compliant Home Finance solutions for off-plan properties to non-UAE residents across the region, as well as potential investors worldwide seeking a second home in the UAE or looking for rewarding investment options. The service makes Noor the only ......read more
Dubai, November 11, 2013: Doha Bank, the leading private commercial bank in Qatar, hosted the “Opportunities in Qatar and the GCC” conference in Istanbul, Turkey on November 08, 2013. The guest of honour was the Consulate General of the state of Qatar Sultan Bin Ibrahim Al Mahmoud. Senior Turkish and international bankers, top managements of the leading Turkish corporate particularly ......read more
Dubai, November 03, 2013: Doha Bank, the leading private commercial bank in Qatar, inaugurated its Hong Kong representative office. The representative office was declared open by Miss Au King-chi, Permanent Secretary for Financial Services and the Treasury (Financial Services), Hong Kong.
As part of the event, Doha Bank hosted a knowledge-sharing session on “Growing Opportunities in the ......read more
• Dabdoub: NBK's solid results are mostly driven by the strong performance of core banking operations
• The progress seen in Kuwait's operating environment confirms our improved outlook
• Strong balance sheet growth; total assets up 15.5% YoY to USD 67 billion and shareholders' equity up 4% YoY, to USD 8.7 billion
• Excluding last year's ......read more
• Dabdoub: NBK delivers solid performance despite a still challenging operating environment
• We are cautiously optimistic on government spending as we see project awards and execution accelerating
National Bank of Kuwait (NBK), the largest Kuwaiti bank and the highest-rated in the Middle East, reported net profits of USD 450.3 million (KD 128.5 million) for the ......read more
- Key factors in the bank's selection include Calypso's straight-through-processing capabilities and Islamic finance coverage
Riyadh KSA – 9 July 2013 — Calypso Technology Inc., the leading integrated treasury and capital markets software provider, has been selected by Riyad Bank, one of the largest financial institutions in Saudi Arabia and the Middle East, to provide ......read more
United Arab Emirates (the UAE) is a Federation of States at the Southeastern end of the Arabian Gulf. It is bordered by Saudi Arabia to the west and Oman to the north and south-east. UAE is a Federation of seven emirates: Abu Dhabi, Ajman, Dubai, Sharjah, Ras Al Khaimah, Umm Al Quwain and Fujairah. Although often ranked as an emerging economy, the UAE is generally accepted to have one of the most ......read more
- New Deloitte report examines emerging regulatory and practice challenges faced by the Takaful industry
- Deloitte: Takaful business strategies and models need to be revamped to serve the mass markets
17 June 2013 – Key figureheads from the Islamic finance industry from across the world were brought together in June for the second year at an executive roundtable in Bahrain ......read more
London, 11th June 2013 – ICM Capital an online forex and commodity CFD's trading service provider is pleased to announce they have recently been recognised for their exceptional global growth. Over recent years ICM Capital has rapidly expanded on a considerable scale with new offices in Europe, the Middle East, Asia and North Africa.
During the 8th Annual JFEX Awards held in Jordan ......read more
Over 50 top Indian developers will be present at ‘India Homes Fair' exhibition being held in Dubai on the 16th, 17th & 18th of May, 2013
Dubai; May 11th, 2013: HDFC Ltd., India's Premier housing finance company is showcasing over 60,000 flats from across India at the 10th edition of ‘India Homes Fair', a property fair exclusively for the Non Resident Indians (NRIs) ......read more
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More Than 1,200 Delegates Will Attend Event, with Keynote Speeches from Ministers of Finance, Housing, and Economy and Planning
Riyadh, Kingdom of Saudi Arabia
The Ministry of Finance/Euromoney Saudi Arabia Conference will welcome more than 1,200 senior financiers, business leaders and government officials when it opens on 7 May 2013.
The event comes at a key time for the Kingdom of ......read more
AXA Group Chairman and CEO opens new AXA shop in Dubai Mall; underlines strong growth potential in the country
Mr Henri de Castries, Chairman and CEO of AXA Group – worldwide leader in insurance and asset management serving 102 million clients globally, today announced plans to accelerate AXA Gulf growth in the Region. The plans were unveiled during the one-day visit of Mr de Castries to ......read more
25 April, 2013:-Al Hilal Bank PJSC ("AHB") has acted as the Manager in the UAE on the establishment of MYR 1,000,000,000 Malaysian Ringgit Sukuk Programme by Al Bayan Group Holding Company (the “Programme”) and the issuance of MYR 200,000,000 Sukuk Wakalah due 2016, the first issuance under the Programme.
Al Bayan Group Holding Company is a diversified holding company ......read more
Global Growth is Only Softer at the Margin
Gold's Decline Looks Very Overdone
Consumer Discretionary and Utilities Offer Best Prospects
Regional Equity Markets Are Still Cheap
India Benefits from Lower Gold Prices
Investors are fixated on gold's sell-off, China's ......read more
UAE – 24 April, 2013 – Standard Chartered today hosted a Macro-Economic briefing session titled:”Transforming, Rebalancing, and Outperforming” for its corporate clients in Dubai. The Bank will hold another session for its clients in Abu Dhabi on the 28th of April. The bank is holding similar briefings to clients in Bahrain and Qatar. The sessions are held exclusively for ......read more