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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 ......read 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 ......read 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 ......read 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 ......read 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 ......read 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 ......read 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 ......read 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, ......read 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 ......read 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 ......read 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 ......read 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 ......read 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 ......read more

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

Overview In our view, recent shifts in Saudi Arabia's political power • structures and societal norms, alongside various regional stresses, could increase the risk of policy mistakes that could result in increased domestic and geopolitical tensions. However, we also consider that these structural reforms could empower Saudi citizens and make Saudi Arabia more attractive to investors over the medium term, as the authorities intend. We are therefore affirming our 'A-/A-2' foreign and local currency sovereign ratings on Saudi Arabia. The stable outlook is based on our expectation that the Saudi authorities will take steps to consolidate public finances and maintain government liquid assets close to 100% of GDP over the next two years. Rating Action On Nov. 19, 2017, S&P Global Ratings affirmed its ......read more

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

DUBAI November 09, 2017:   EFS Facilities Services, a regional leader in facilities management services across the Middle East, Africa, South Asia and Turkey, has been awarded a contract to launch an integrated facility management venture at King Abdullah Economic City (KAEC). Under the terms of the agreement, EFS will provide integrated facilities management services across the city, including catering, transportation and value-added services such as the integration of smart technology and Computer Aided Facility Management (CAFM). The contract will run over an initial period of three years. “King Abdullah Economic City is a major social and economic growth driver for the Kingdom of Saudi Arabia. As the city grows in complexity so too does its need for state-of-the-art integrated facilities management,” said ......read more

Riyad Bank participate as Platinum sponsor of Saudi Trade Finance Summit

Two-day summit to cover financial regulation and strategy as Kingdom invests for a future without oil Al Khobar, 7th November 2017:   Riyad Bank will, once again this year, be one of the Platinum Sponsors of the 5th Annual Saudi Trade Finance Summit, taking place 14th to 15th November at the Mövenpick Hotel Al Khobar, Saudi Arabia. This exclusive Trade Finance event in Saudi Arabia is organized by Dubai based QnA International.  The Summit will focus on the advancement of systems facilitating the Kingdom’s strong legacy of trade, by bridging the gap between CFOs and financial institutions. Now in its fifth year, the Summit enjoys a reputation for being the most influential trade finance event in the Kingdom.  Discussion over the two days will focus on the financial regulations, strategies and ......read more

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

KSA; 17 October 2017:  Today’s organizations are awash in a sea of continuous change and new skills are needed for business leaders to succeed; and this applies to HR leaders too. Based on their experience of working with HR leaders in Saudi Arabia and other GCC countries, Ashridge Executive Education has customized its five days programme on ‘Advanced HR Strategy and Impact’, to help regional HR practitioners to lead their organization through change, develop their coaching skills, add greater value as consultants and formulate a winning HR strategy for their companies.  According to Rory Hendrikz, Managing Director of Ashridge Middle East, “In Saudi Arabia there is now a greater awareness of the comprehensive role that HR leaders play in development of leadership skills. With the emergence of ......read more

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

Business leaders highlight key opportunities posed by government investments to advance the adoption of HR technology systems, ahead of the HR Tech Saudi Summit  Dubai, October 11,  2017:  Delegates at the HR Tech Saudi Summit taking place on November 20 – 21, in Riyadh, Saudi Arabia, will enjoy a unique opportunity to discuss how government investments worth SAR 8.3 billion will pose new opportunities for businesses to transform HR practices.  The government of Saudi Arabia pledged the multi-billion Riyal investment under Saudi Vision 2030, supporting a number of advancements in people and workplace development across key growth sectors. Addressing how these developments will transform business, the HR Tech Saudi Summit will include discussion on such pertinent topics as implementing Performance ......read more

ITFC Supports Investment in the Agriculture Sector in Kazakhstan

The International Islamic Trade Finance Corporation (ITFC) participates in the “Agroinvest” Forum Astana 2017 in Kazakhstan Dubai, UAE, August 27, 2017:  The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group participated in “Agroinvest” Forum Astana 2017 organized by “KazAgro”, the National Management Holding with the official support of the Ministry of Agriculture of the Republic of Kazakhstan. The Forum provided a platform to discuss the development of agro-industrial complex of Kazakhstan, and projects in the sphere of agriculture and investment. The Forum took place in the Hilton Garden Inn Hotel in Astana on August 25, 2017.  Eng. Hani Salem Sonbol, CEO ITFC reemphasized IsDB Group and ITFC’s role in supporting ......read more

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

Expansion into the Kingdom Strengthens Two Decade Long Relationship with Home Centre 27 August, Dammam – KSA:  Intercoil International, UAE’s leading manufacturer, distributor and retailer of total sleep solutions across the MENA region, recently commenced operations at its new manufacturing facility in Dammam, Saudi Arabia. The firm’s entry into the Kingdom with an investment of 20 million SAR, marks a major milestone in the company’s growth outside the UAE. The new state-of-the-art facility which, spans over a gross area of 7,000 sq. meters and mirrors its UAE facility, will manufacture a comprehensive range of orthopaedic mattresses. The facility will begin production with a daily capacity of 500 mattresses with plans to gradually double mattress capacity over the next three years. ......read more

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

LONDON (S&P Global Ratings) Aug. 9, 2017:  In a Credit FAQ titled "Potential Implications Of Qatar Boycott For Gulf Cooperation Council Sovereigns," published today, S&P Global Ratings responds to questions that have surfaced in recent discussions with issuers and investors about the implications of the Qatar boycott by a group of states for the Gulf Cooperation Council (GCC) sovereigns. S&P Global Ratings believes that the impact of a group of states cutting diplomatic ties, as well as trade and transport links, with Qatar on June 5, 2017, may not be confined to within Qatar's borders. We expect that political tensions within the GCC will persist over the next few years, and believe that the boycott of Qatar has illustrated deeper fissures within the group than were previously evident. For the most ......read more

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

Under the patronage of the Deputy Governor of Medina Region Medina, KSA – June 14, 2017:  Under the Patronage of H.R.H. Prince Saud Bin Khalid Al-Faisal, Deputy Governor of Medina Region, the Chairman of the Islamic Development Bank (IsDB) Group, H.E Dr. Bandar bin Mohammed Hamza Hajjar and the Chairman of the Chamber of Commerce and Industry of Madinah H.E Mr. Munir Mohammed Nasser bin Saad signed a MoU for mutual cooperation and support the Chamber’s role in promoting the commercial and economic environment in the Medina region, and activating its participation in achieving the goals of the National Transition Program 2020 and the vision of Saudi Arabia 2030. The signing ceremony took place in the Office of H.R.H the Prince and was attended by the Chief Executive Officer of the International Islamic Trade Finance ......read more

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

Supporting access to energy through importing petroleum products and electricity are vital to economic growth and foster the socio-economic conditions in Mali. Jeddah, May 21 2017:  The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, signed a € 40 million Agreement with the Government of Mali, which was signed by Dr. Boubou Cisse, Minister of Economy and Finance Mali and Eng. Hani Salem Sonbol, Chief Executive Officer of ITFC. The signing ceremony was on the sidelines of the IDB Group’s 42nd Annual Meeting that took place in Jeddah, Saudi Arabia. Mali is a non-oil producing Member Country which is also land-locked, where the import of petroleum products is vital and is a necessity for its economic growth. In addition, it supports other key industries such ......read more

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

In support of Saudi Vision 2030: Agreements drive economic diversification in power, healthcare, oil and gas, mining and digital transformation of industry. Riyadh, Kingdom of Saudi Arabia. May 21, 2017:  Building on its more than 80 years of partnership and experience in the Kingdom, GE [NYSE: GE] has taken significant steps in supporting the delivery of Saudi Vision 2030, today announcing in partnership with the Kingdom a range of Memorandums of Understanding [MoU] and projects valued at $15 billion – of which almost $7 billion are GE technology and solutions – across multiple sectors and partners aimed at creating a truly diverse and sustainable economic platform. Signed in the presence of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and President of the United States of America, ......read more

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

Jeddah – May 16, 2017 (Hilton – Al Qasr Hall):  ITFC  has  organized a  side-event  during  the  IDB  Group  Private  Sector  Forum, in conjunction with the IDB Group 42nd Annual Meeting held in Jeddah-Saudi Arabia. Given the importance of this forum and the high profile audience that   this  event  has attracted,  ITFC  has  shown  keenness  to  highlight  its  role,  as an Islamic Trade Finance Institution, in contributing to the economic and social development of its member countries through trade finance and trade development. In addition, ITFC is   seeking   to   use   this   opportunity   to showcase its role in promoting the development of the Small & Medium-Sized ......read more

Other Top Stories from Banking and Investments
 
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 ......read 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 ......read 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 ......read 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 ......read 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 ......read 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 ......read 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) ......read more

يوروموني السعودية يتناول أهم القضايا الاستثمارية …

  أكثر من 1200 شخصية عالمية وإقليمية تحضر أعمال المؤتمر الذي يلقي فيه أصحابُ المعالي وزراء المالية والإسكان والاقتصاد والتخطيط بالمملكة العربية السعودية كلمات رئيسية الرياض، المملكة العربية السعودية تستقبل وزارة المالية السعودية ومؤتمر "يوروموني السعودية" معاً أكثر من ألف ومائتي من كبار المسؤولين الحكوميِّين والمُموِّلين وقادة الأعمال الذين توافدوا إلى العاصمة ......read more

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 ......read 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 ......read 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 ......read more

GOLD'S LUMP OFFERS OPPORTUNITIES…

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

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 ......read 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 ......read 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 ......read 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 ......read 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 ......read 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 ......read more

SABB THE FIRST BANK TO OPEN IN KING ABDULLAH ECONOMIC CITY…

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, ......read 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 ......read 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 ......read 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 ......read 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 ......read 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 ......read more

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