Saudi - May 21, 2019: What happens when your yard falls smack dab in the middle of someone else’s Universe? You dig in and fight to hold your ground, much like Roman Reigns will look to do when he takes on Shane McMahon at WWE Super ShowDown in Jeddah.
Reigns made a jarring first impression during his first night on SmackDown LIVE when he straight up Superman Punched Mr. McMahon. The shocking act caught the attention of not just the WWE Universe, but also The Chairman’s son Shane.
Not pleased with The Big Dog’s blatant disrespect for his father, Shane-O-Mac immediately put Roman in his crosshairs, targeting him at every chance for weeks, with some assistance from his new running buddy and the Mr. McMahon-anointed “biggest acquisition in SmackDown LIVE history,” Elias.
However, after ......read more
Will create a diversified, pan-regional drilling powerhouse with 58 onshore and 9 offshore rigs and decades of experience across Saudi Arabia, Kuwait, Oman, Iraq and Pakistan.
Fully aligned with Saudi Arabia’s Vision 2030, the transaction expected to demonstrate TAQA’s delivery on its transformation strategies to unlock value and drive growth.
Dammam, April 29, 2019 - Saudi Arabia’s Industrialization and Energy Services Company (TAQA) announced today that its drilling subsidiary, Arabian Drilling Company (ADC), has agreed to acquire Schlumberger’s Middle East onshore drilling rigs business in Kuwait, Oman, Iraq and Pakistan for $415 million (SAR 1.56 billion). The transaction transforms ADC into a regional drilling leader with one of the largest rig fleets, client portfolios and geographic ......read more
UL runs full day training sessions with the customs officers at King Abdulaziz Airport and Jeddah Islamic Sea Port
Customs officers briefed on the registered Marks owned by UL
Officials were also shown counterfeit products previously seized in the region
Jeddah, 25 April 2019: Global safety science company, UL, is helping KSA implement an array of anti-counterfeiting solutions that help safeguard customers from counterfeit products.
UL's Global Security and Brand Protection team hosted training sessions for customs officials from King Abdulaziz Airport and Jeddah Islamic Sea Port who were briefed on the registered Marks owned by UL.
During the training programme, which took place in Jeddah, the officials were also shown counterfeit products which ......read more
Saudi Arabia, April 10, 2019: Profitability in the Saudi Arabian insurance sector continued to weaken in 2018. The "Saudi Insurance Market Sees Another Profit Decline In 2018" report, published April 10, 2019, on RatingsDirect, details how the 33 listed re-insurance companies saw pre-tax income fall 28% last year and 55% in 2017. "We expect conditions to remain challenging in 2019 due to market competition, but new business from female drivers, a clamp down on uninsured motorists, and the extension of mandatory medical insurance cover could provide a boost to companies," said S&P Global Ratings' credit analyst Emir Mujkic.
Visa’s partnership with Starbucks and Hardee’s entitles Visa cardholders in KSA and UAE to upsize their orders for free when paying with Apple Pay
17 March 2019: Visa (NYSE:V), the world’s leader in digital payments, today announced partnerships with Starbucks and Hardee’s to accelerate the use and adoption of Apple Pay in the Kingdom of Saudi Arabia and United Arab Emirates. With Apple Pay, Visa cardholders and iPhone users can make instant payments using their phone via app or on web.
As part of Visa’s partnership with Starbucks, the world leading coffee chain and Hardee’s, one of the world’s most popular food and beverage service chains, Visa cardholders will get free upsize/upgrades on their orders when paying with Apple Pay.
The promotion with Starbucks ......read more
Transforming mobile payments with an easy, secure, and private way to pay
Riyadh, Saudi Arabia; 19 February 2019: Visa (NYSE:V), the world’s leader in digital payments, today brings Apple Pay to its Saudi-based cardholders. Apple Pay allows prepaid, debit and credit cardholders to make easy, quick and secure purchases using their iPhone and Apple Watch in stores that accept contactless payments. Visa cardholders can also make payments with Apple Pay in-app or on the web.
Apple Pay will allow Visa cardholders across the Kingdom to make payments using their Apple devices while ensuring that their financial details are private and secure. Security and privacy are at the core of Apple Pay. When you use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, ......read more
IDC Survey commissioned by Citrix analyzes the Kingdom’s readiness to build the future workplace
Riyadh, Saudi Arabia – 19 February 2019: An IDC survey commissioned by Citrix (NASDAQ:CTXS) found security and data leaks to be a key concern in adopting intelligent workplace strategies. The survey results were presented at an event at the Riyadh Four Seasons.
With face-to-face input from over 100 CIOs in KSA, the survey’s corresponding white paper examines the evolution of the intelligent workspace and IDC's "Future of Work" concept. It further highlights the role of intelligent workplace technologies in Saudi Arabia, and covers their drivers, benefits, security implications, and challenges.
With a key concern being security, the survey also found that over ......read more
7 February 2019, Saudi – MUFG Bank announces the appointment of Tariq Al Ghaziri as Head of Corporate Banking for MUFG’s Riyadh branch.
Prior to joining MUFG in Riyadh, Tariq has held various positions at Riyad Bank for the past 15 years, most recently as Head of Corporate Finance.
Various functions, including Trade Finance, Treasury and Credit Analysis, will report into Tariq in his new capacity.
Elyas Algaseer, Head of Corporate Banking for MUFG in MENA said: “Appointing Tariq to his new position is an important step in the development of our business in Saudi Arabia.”
MUFG obtained a full commercial license from the Saudi Arabian Monetary Authority (SAMA) in January 2017 and commenced operations in October 2018.
January 24, 2019: Speaking to Bloomberg Television’s Francine Lacqua and Haslinda Amin, Saudi Arabia Finance Minister Mohammed Al-Jadaan said he expects 2.6% GDP growth in 2019.
Other highlights include:
• Saudi may issue non-USD bonds this year
• Looking at Euro or other currencies for bond
Saudi Railway Company, Fawaz A. Alhokair & Co, Saudi Telecom Company and SADAFCO among others awarded for their outstanding performance and exceptional leadership
Riyadh, Saudi Arabia, December 17, 2018: Held alongside the 6th Annual Saudi Trade Finance Summit, organized by QNA International, at the Al Faisaliah Hotel in Riyadh, the second day witnessed the recognizing and awarding of great finance leadership and initiatives supporting the vision and innovation of the finance leaders in the Kingdom for fulfilling key strategies in line with Saudi Vision 2030. The event highlighted, honored and celebrated path breaking achievements of public & private sector organizations and individuals who have contributed significantly to achieving the Kingdom’s Vision through sustainable ......read more
Marafiq, a utility business in Saudi Arabia, is embarking on a journey to enhance its intelligent, digital-utility enterprise using SAP
SAP’s intelligent enterprise enables customer centricity, growth agility, holistic visibility, and differentiate innovation to digitize utility businesses in the Kingdom
December 17, 2018: As the Saudi Arabian utility sector undergoes digital transformation to optimize its operations, modernize its infrastructure, and reshape offerings, all aligned with Saudi Vision 2030, Saudi Arabian utilities provider, Marafiq, has embarked on enhancing its digital intelligence with SAP.
Marafiq provides power and utility infrastructure to industrial cities within Saudi Arabia, which hosts some of the world’s largest hydrocarbon conglomerates in Yanbu and Jubail. Digital ......read more
December 15, 2018: Some media have reported incorrectly that UAE and Saudi Arabia have started using digital currency for cross-border settlements which will be backed by fiat currencies of the 2 nations.
The Central Bank of the UAE (CBUAE) would like to clarify that CBUAE is working with the Saudi Arabian Monetary Authority (SAMA) on a joint project which constitutes a Proof-of-Concept (PoC) for experimenting with Blockchain technology to facilitate cross-border payments between the two countries.
The PoC is still at an early stage and will help CBUAE gain a deeper understanding of the feasibility of distributed ledger technology in this field and explore the potential opportunities and benefits of a digital currency.
CBUAE and SAMA have selected a tech company to support the implementation of this PoC, which ......read more
December 10, 2018: Saudi Arabia has experienced tremendous transformation in 2018, bouncing back from low oil prices with the largest expansionary budget and history-making reforms. King Salman’s Vision 2030 was a guiding principle for many of the country’s reforms along with Crown Prince Mohammed’s leadership has lead Saudi Arabia to modernise the Kingdom. Reviewing 2018, we can see major shifts that will impact Saudi Arabia’s future.
One of the major business reforms this year was the introduction of VAT. We also saw other GCC countries undergo the shift with Saudi Arabia. The tax was set at a standard rate of five percent however, there were some exemptions. The exemptions are basic necessities and medical, cultural and educational products, financial and insurance services. The tax helped ......read more
Held Under the Patronage of His Highness the Amir of the State of Kuwait Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah
25 November 2018: INJAZ Al-Arab – member of Junior Achievement Worldwide – is hosting their 12th Annual Young Arab Entrepreneurs Competition in Kuwait between November 26 and 29, 2018. The competition will see 80 students from 11 countries across MENA compete over 12 award categories before their peers and a panel of high-profile judges.
Held under the patronage of His Highness the Amir of the State of Kuwait Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah, the event will welcome over 180 attendees from INJAZ teams, volunteers and chaperons. The competition will conclude with a glittering award ceremony to be held on November 28, welcoming over 400 guests, including high-school and university ......read more
Ashridge to coach HR Leaders on maximizing company business value and their strategic impact
October 23, 2018: Saudi Arabia’s Vision 2030 challenges HR leaders in Saudi to take progressive steps to bring about organizational changes aimed at ensuring greater business success. Ashridge Executive Education has launched a five-day transformational programme aimed at providing insights and practical skills for HR leaders within the context of leveraging the human network in an organization to adapt to changing business conditions and achieve sustainable business success.
The programme will be held from 4 to 8 November 2018 in Ashridge campus Dubai. Ashridge can also conduct the programme on location for Saudi companies that prefer to host it at their premises.
According to Rory Hendrikz, Managing ......read more
RIYADH, SAUDI ARABIA - September 26, 2018: Thomson Reuters inaugurated the 10th Compliance and Anti-Money Laundering Seminar in association with the Institute of Finance and under the patronage of His Excellency Dr. Ahmed Abdulkarim Akholifey, Governor of the Saudi Arabian Monetary Authority (SAMA) and Chairman of Anti-Money Laundering Permanent Committee (AMLPC)
Speaking at the opening ceremony, Dr. Fahad AL Shathri, Deputy Governor for Supervision, SAMA, said: “Saudi Arabia have been instrumental in directing all financial institutions to abide by the policies that meet the compliance standards including reporting and uncovering financial crime. In the past few years, we have seen more deployment of state-of-the-art technologies by financial institutions as they continue to roll out strict anti-money ......read more
Multi-platform Arabic-language business and financial news service renamed and headquartered in the U.A.E.
Saudi Arabia, 17 September, 2018: Following the announcement made last September by Bloomberg, the global business and financial information and news leader, and Saudi Research and Marketing Group (SRMG), the Middle East's biggest publishing group to launch Bloomberg Al Arabiya, a new multi-platform Arabic-language business and financial news service, Bloomberg and SRMG today announced that the news service has been renamed to Bloomberg Asharq.
Peter Grauer, Chairman of Bloomberg L.P., and Dr. Ghassan Alshibl, Chairman, SRMG, met yesterday in Dubai to officially announce Bloomberg Asharq. They also unveiled the platform’s logo, which incorporates Arabic characters with Bloomberg’s global brand ......read more
FII 2018 advisory board comprised of eleven global executives with diverse insights and expertise
Advisory board provides strategic guidance on the development of FII as a platform to help shape the future of global investment
Riyadh, 29 August 2018: The Public Investment Fund (PIF) of Saudi Arabia has today announced the formation of an advisory board, comprised of eleven of the most influential global executives from technology, finance and business, that will support the ongoing development of the program for the 2018 Future Investment Initiative (FII).
The second edition of FII is taking place in Riyadh from October 23rd-25th 2018 and will explore how investment can be used to drive growth opportunities, fuel innovation and shape future economies.
With a wealth of ......read more
July 18, 2018: More than 20 senior leaders from Bank Al Bilad recently participated in an Ashridge Executive Education Leadership Development Program in Riyadh. With a focus on building 21st Century Leadership capabilities, this highly experiential and practical learning approach helped leaders communicate their strategic vision, set direction and develop high performing teams to succeed within the dynamic and fast moving Saudi banking sector.
With over 20 years of experience in developing regional business leaders, Ashridge delivered a highly customized program, designed not only to address the specific challenges facing the Bank’s leaders today, but also to unlock the emerging opportunities in the future.
Mr. Haitham Al-Medainy, General Manager of Bank Al Bilad, said: “Banking executives must constantly ......read more
Opening of Albairaq for Diamonds and Jewelry in late 2018 to provide more than 50 per cent job opportunities to Saudi nationals
Group eyes investments in KSA’s thriving education sector in line with Saudi Vision 2030
Saudi Arabia, July 12, 2018: Al Basel Group, one of the leading groups of companies in the UAE that offers a range of specialized services for high-profile clients, announced its plans to launch a new jewelry business in the Kingdom of Saudi Arabia (KSA) in line with its expansion plans in the region. Albairaq for Diamonds and Jewelry will form part of the growing Al Basel Group led by the founder and CEO Basel Al Kasem, with his younger brother Omar Al Kasem at the helm of operations. The company is set to be operational by the end of 2018, giving rise to a range of job opportunities for ......read more
Riyadh, 5th July 2018: More than 100 senior industry leaders from the private and public sectors as well as noted KSA academia attended the graduation ceremony of the inaugural class of 50 Qimam Fellows yesterday. They commended the quality of Saudi talent represented by Qimam’s inaugural fellowship and the rigorous program that helped develop their leadership skills and build their network.
Launched in February 2018, the Qimam Fellowship Program attracted more than 13,000 applications. Of these, 150 applicants were invited to Riyadh for two in-person interviews conducted by more than 50 senior leaders from the public and private sector. Based on the interview outcomes, an admissions committee comprising members of Qimam’s partner companies selected 50 students as Qimam ......read more
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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