, Online Press Release from Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina
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The Best Finance Leaders in Saudi Arabia honored at Saudi CFO Awards

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 more

Marafiq Powers the Growth of Saudi Arabia's Largest Industrial Cities and Initiatives with Utilities Digitization

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 more

UAE, Saudi Arabia using fintech for cross-border settlements

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 more

2018 Business Review of Saudi Arabia

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 more

INJAZ Al-Arab Gears-up for the 12th Annual Young Arab Entrepreneurs Competition to be held in Kuwait

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 more

Saudi HR leaders to explore macro trends in human development

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 more

Thomson Reuters & The Institute of Finance Inaugurate 10th Compliance and Anti-Money Laundering Seminar in Saudi Arabia

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 more

Bloomberg and Saudi Research and Marketing Group (SRMG) Unveil New Details of Partnership

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 more

PIF Announces Fii 2018 Advisory Board

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 more

Bank Al Bilad invests in leaders through Ashridge flagship program

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 more

Al Basel Group's new jewelry business in KSA to boost localization efforts

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 more

Inaugural class of 50 distinguished Qimam Fellows graduates in Riyadh

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 more

ITFC Provides the First Islamic Trade Finance Transaction in the Republic of Uzbekistan

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 more

First Ever Islamic Trade Finance Workshop Held in Uzbekistan

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 more

PIF Announces the Future Investment Initiative 2018

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 more

Al-Jazeera Paints Concludes A Program Under Its Sponsorship to Introduce Parents to Registration Mechanism in Noor System

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 more

Trend Micro Highlights the Need to Bolster Digital Security with KSA's Smart City Transformation

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 more

Corporate Finance Advisory Firm LUMINA Expands to Saudi Arabia

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 more

Knight Frank Saudi Arabia releases Saudi Arabia Real Estate Investment Trusts Q1 2018 Review.

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 more

Intersec Saudi Arabia 2018 Opens for Business Featuring 150 Exhibitors from 20 Countries

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, more

Ashridge to help Saudi leaders explore and implement strategies for growth

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 more

Avaya Signs MoU with Jeddah's University of Business and Technology to Drive Education Initiatives

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 more

Over 5000 Professionals Attend Co-Located Saudi Expos

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 more

MEPCO and WASCO Attend 15th International Saudi PPPP 2018 Exhibition in Riyadh

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 more

CBRE Group, Inc. Named a World's Most Admired Company by Fortune Magazine for Sixth Consecutive Year

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 more

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KSA companies extend their CSR initiatives into education segment

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 more

Deutsche Bank awarded Investment Bank of the Year by EMEA Finance Achievement Awards

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 more

AXA Cooperative opens new shop at Granada Mall in Riyadh

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 more

Al Hilal Takaful discusses industry growth drivers & innovation at 9th World Takaful Conference in ...

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 more

According to EY's Global Consumer Banking Survey

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 more

AXA Cooperative launches a fully tailored motor insurance offer in Saudi Arabia

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 more

Join AXA Cooperative & fulfil your ambitions

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 more

Qatar, Indonesia, Saudi Arabia, Malaysia, UAE and Turkey represent 78% of global Islamic banking ...

- 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 more

AXA unveils a major Brand Campaign in the Kingdom of Saudi Arabia

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 more

Noor Islamic Bank Offers Home Finance for Off-Plan Properties to Non-UAE Residents and Potential ...

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 more

Turkey will be a major partner in Qatar's FIFA projects

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 more

Doha Bank opens its first representative office in Hong Kong

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 more

NBK reports a net profit of USD 702 million in the nine months of 2013

• 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 more

NBK reports a net profit of USD 450.3 million for the first half of 2013

• 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 more

Riyad Bank Chooses Calypso for Front-to-Back-Office Support

- 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 more

Doing Business in Dubai, UAE - Morison Menon

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 more

Deloitte releases a global Takaful Insurance market report and hosts a Middle East roundtable on ...

- 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 more

ICM Capital Recognised for Global Growth

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 more

HDFC to bring a bouquet of over 60,000 flats from across India for NRIs in UAE

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) more

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Euromoney Saudi Arabia Conference Tackles Key Investment Issues

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 more

AXA unveils growth plans in UAE & region during Group Chairman and CEO visit

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 more

Al Hilal Bank acted as Manager of the UAE on the First Malaysian Ringgit Sukuk Programme ...

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 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 more

Standard Chartered hosts Global Research Briefing sessions for corporate clients in the UAE

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 more

A.M. Best Special Report: Insurers' Profitability Under Pressure as Saudi Arabia's Growth Slows

LONDON - April 22, 2013 -- (BUSINESS WIRE/ME NewsWire) -- Many insurers in Saudi Arabia are reporting deteriorating underwriting results at a time when the market's growth is slowing, according to a new report from A.M. Best Co. Analysis shows that in recent years the market's combined ratio has been increasing, while real premium growth has decelerated, leaving insurers to compete mainly more

AXA Cooperative opens 2 new shops in Jeddah & 1 in Khobar; reinforcing its aggressive expansion and ...

AXA Cooperative opens 2 new shops in Jeddah & 1 in Khobar; reinforcing its aggressive expansion and long term commitment in the Kingdom The company plans to unveil 9 new AXA Shops in the Kingdom of Saudi Arabia As part of its expansion strategy, aimed at increasing the company's geographical footprint across the Kingdom of Saudi Arabia, AXA Cooperative – one of the largest and more

UAE Accounts for 40% of the Region's Certified Internal Auditors

UAE-IAA succeeded in lobbying and completing an Arabic examination of CIA test- Dubai, UAE, 20 March 2013: The UAE Internal Audit Association (UAE-IAA), the local body affiliated to the Global Institute of Internal Auditors (IIA-Global), today announced that the United Arab Emirates (UAE) leads the region in the number of auditors who hold Certified Internal Auditors (CIA) certifications. The more

Threats and Opportunities in GCC Retail Banking: Oliver Wyman and EFMA to Hold Senior Bank ...

Dubai, United Arab Emirates - March 4th 2013--(BUSINESS WIRE / ME NewsWire)-- EFMA, a leading non-profit retail banking association, and consultancy Oliver Wyman have organized senior briefings with banking executives to discuss the opportunities and threats for retail banks in the GCC. Oliver Wyman models see banking revenues in the region quadrupling over the next 20 years, ahead of growth in more

A.M. Best to Participate in the 2nd Saudi Insurance Symposium 2013

LONDON - February 19th 2013--(BUSINESS WIRE / ME NewsWire)-- A.M. Best Co. will participate in the 2nd Saudi Insurance Symposium, being held 26-27 February 2013 at Buraida Hall, Intercontinental Hotel, Riyadh, Kingdom of Saudi Arabia. VasilisKatsipis, General Manager, Market Development, A.M. Best - MENA, South & Central Asia, will speak on “Profitable Growth Strategies in Emerging more


Located in a prime location in the Business Park to serve KAEC's business community and residents KAEC, February 19th, 2013: The Saudi British Bank (SABB) has signed an agreement with King Abdullah Economic City (KAEC), by which it will become the first bank to open a branch in KAEC. The event was attended by Mr. Fahd Al-Rasheed, Managing Director and CEO of King Abdullah Economic City, more

Aetna Named Health Insurer of the Year' by MENA Insurance Review

-- Aetna's Health Care Benefits in the Middle East Honored -- Dubai, United Arab Emirates - February 18th 2013 -- (BUSINESS WIRE / ME NewsWire)-- Aetna (NYSE: AET) a leading global diversified health care benefits company, has been named “Health Insurer of the Year” for 2013 by MENA Insurance Review (MIR), a leading magazine covering the insurance sector in the Middle East and more

The Sky's The Limit for DVK Group Founder, Deepak Kuntawala, Who is Awarded Young Entrepreneur of ...

Mr. Deepak Kuntawala, the visionary Founder of DVK Group, a global commodity trading and finance boutique company, was honoured with the Asian Leadership Young Entrepreneur accolade at the esteemed Asian Who's Who Awards 2012, which took place this week at The Dorchester Hotel in Park Lane London. Now in its Silver Jubilee 25th year, the high profile event pays homage to the most more

UAE Residents Urged to Be Aware of Careless Spending and Plan for the Future

Nexus Insurance Brokers Warns that “Living for the Moment” may Negatively Impact on Financial Happiness DUBAI, United Arab Emirates: United Arab Emirates residents risk an uncertain financial future if they continue with a “live for the moment” mentality, Nexus Insurance Brokers warned today. The trend for spending without forethought was vividly detailed in the more

At Arabian Business Achievement Awards 2012 Dubai

Gulf Capital Wins Award for Best “Investment Company” in the Region  (Dubai –21 November 2012) – Gulf Capital, one of the largest and most active alternative investment firms in the Middle East, was named the “Best Investment Company of the Year” at the prestigious Arabian Business Achievement Awards 2012. The Firm received the honour at the gala event more

Ex-Im Bank Approves Record-Breaking Transaction to Support More Than 18,000 Jobs

WASHINGTON, Sept. 27, 2012 /PRNewswire-USNewswire/ -- In its largest job-supporting authorization to date, the board of the Export-Import Bank of the United States (Ex-Im Bank) has approved a $4.975 billion direct loan to Sadara Chemical Company for the export of American goods and services required in the construction of a petrochemical complex in Jubail Industrial City II in the Kingdom of more

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