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Monday January 27, 2020
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January 26, 2020
Non-oil sectors to boost Saudi economic growth in 2020
JEDDAH — A survey of nearly 440 senior accountancy experts on economic conditions in MESA showed a recovery in confidence in Q4. A revival in growth is likely to come mainly from the non-oil sector as the economy diversifies.Detailed in the latest Global Economic Conditions Survey (GECS), jointly published by ACCA (the Association of Chartered Certified Accountants) and IMA (Institute of Management Accountants) the findings also point to mixed results ...
January 26, 2020
Saee raises $2.4 million in Series A round of funding
RIYADH — Saee, a Jeddah-based startup providing last-mile delivery through freelancers, announced Sunday the completion of a SR9 million ($2.4 million) Series A round of funding to fuel local expansion.The round was led by Saudi Arabia-based Business Incubators and Accelerators Company (BIAC), TasHeel Holding and Abunayyan Holding’s investment arm “ABN Ventures.”“The new funding will enable the introduction of new services such as 45-minute express delivery and enable the company to ...
January 26, 2020
Only 25% of investors are confident in banks’ digital strategies
DUBAI — Financial services firms are trying to build the firm of the future, but their lack of progress is stoking deep skepticism among investors, according to Oliver Wyman’s annual State of the Financial Services Industry report. Only 25 percent of investors surveyed are confident that firms’ digital transformation strategies will be effective, and less than 1 percent believe the plans are both clear and credible.“The need to invest and ...
January 26, 2020
UAE guiding principles on sustainable finance credit positive for banks
JEDDAH/DUBAI — The United Arab Emirates (UAE, Aa2 stable) published its first set of guiding principles on sustainable finance during the second edition of the Abu Dhabi Sustainable Finance Forum on Sunday. The guiding principles will contribute to UAE banks’ understanding and management of environmental, social and governance (ESG) risks that affect their credit profiles.Environmental and governance risks are the most relevant for UAE banks, while social risks are in ...
January 26, 2020
Arab Health 2020 opens showcasing the latest innovation and technology in the sector
DUBAI — Healthcare and trade professionals from more than 159 countries will arrive in Dubai today (Jan. 27) for the opening of the Arab Health Exhibition & Conferences, the largest gathering of healthcare companies, technology, products and services in the Middle East & North Africa (MENA) region.Following the success of the 2019 edition, where business generated by exhibitors during the show increased by 5.9% year-on-year from $778 million in 2018 ...
January 26, 2020
2019: The Year of 5G in the Middle East and Africa Region
By Chafic TraboulsiHead of Networks, Ericsson MEARIYADH — As the Middle East and Africa region races toward commercial 5G services, Ericsson achieved significant milestones with leading service providers on the road to making 5G a reality.During 2019, Ericsson Middle East and Africa (MEA) announced seven commercial 5G agreements with operators in different countries: Etisalat UAE, Ooredoo Qatar, STC Saudi Arabia, Zain Bahrain, Batelco Bahrain, MTN South Africa and Mobily.On a ...
January 26, 2020
69% of routine work currently done by managers will be completely automated by 2024
DUBAI — Artificial intelligence (AI) and emerging technologies such as virtual personal assistants and chatbots are rapidly making headway into the workplace. By 2024, Gartner, Inc. predicts that these technologies will replace almost 69% of the manager’s workload.“The role of manager will see a complete overhaul in the next four years,” said Helen Poitevin, research vice-president at Gartner. “Currently, managers often need to spend time filling in forms, updating information ...
January 26, 2020
MG Motor smashes Middle East records again in 2019
DUBAI — New car buyers across the Middle East demonstrated their enthusiasm for the exciting new range of MG cars in record numbers in 2019, with sales of the British-born manufacturer’s cars shooting up by a remarkable 130 percent.MG Motor’s record regional sales of 15,928 models came against the backdrop of challenging market conditions. Yet the brand enjoyed significant growth in all countries, led by the popularity of its compact ...
January 26, 2020
Art Gallery at Novotel Tahlia Jeddah
JEDDAH — Art lovers in the Kingdom need not look further than Jeddah. With so many art galleries displaying works of art from local as well as international artists, Jeddah can be overwhelming for art lovers.In a combination of international art trends and local tastes, the Art Show was organized on Jan. 21 - 22 at Novotel Jeddah, showcasing modern art, resin art, plastic art, mandala, doodle art, paint pouring, ...
January 26, 2020
Lines appointed as GM for Audi operations in Saudi Arabia
JEDDAH — Samaco Automotive Company, the exclusive dealer of Audi cars in the Kingdom of Saudi Arabia, has appointed Neil Lines as General Manager for the Audi brand.Lines brings with him a wealth of experience, success and knowledge in the automotive industry. During his successful career of over 24 years, Lines has held senior management roles working for leading automotive giants, including Volkswagen, Audi, Porsche, Mercedes Benz and BMW. He ...
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