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1841 - 1850 from 16577 . In "BUSINESS"
Saudi Stock Exchange joins widely followed FTSE bond index
RIYADH -- Saudi Arabia's Stock Exchange will be added to its widely followed Emerging Markets Government Bond Index (EMGBI), the global index provider FTSE Russell announced on Thursday.This came as a result of the tangible developments and efforts made by the Capital Market Authority (CMA), in addition to its efforts with the relevant authorities in developing the Sukuk and Debt instruments market. It took only six months since joining the list of monitoring of the index in March 2021 until its actual accession to the index on September 30.The accession to the index will allow the Saudi Sukuk and Debt instruments to be part of the sukuk and debt instruments market indicators that international investors follow.Categories of investors in the local market in 2018, and foreign investors...
October 01, 2021

Saudi Stock Exchange joins widely followed FTSE bond index

The opening ceremony of EXPO Dubai 2020, at Al Wasl Plaza.
UAE leaders welcome the world with a glittering opening show to Expo 2020 Dubai
DUBAI —Sheikh Mohammed Bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai, and Sheikh Mohamed Bin Zayed Al Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces, Thursday welcomed delegations from across the world participating in Expo 2020 Dubai at the event’s spectacular opening ceremony.Participants from 192 countries have converged on Dubai for the mega global event, which is being held for the first time in the Middle East, Africa and South Asia (MEASA) region.During the ceremony, both leaders conveyed the greetings and good wishes of President Sheikh Khalifa Bin Zayed Al Nahyan to participants in the six-month event that celebrates human innovation, enterprise and achievement.Sheikh Mohammed Al Maktoum said the...
October 01, 2021

UAE leaders welcome the world with a glittering opening show to Expo 2020 Dubai

Seismic vessel utilization recovers to pre-COVID-19 level as market embraces energy transition jobs
OSLO — The COVID-19 pandemic has been devastating for the seismic industry for several quarters, keeping nearly half of its global fleet inactive — until recently. A Rystad Energy report shows that the seismic fleet’s hibernation is now over, as vessel utilization has recovered to pre-COVID-19 levels in the third quarter of 2021.About 68% of the fleet, or just over two-thirds of the vessels are now surveying or under way, while only one-third remain inactive.The fleet’s comeback is significant as it matches the utilization levels of the first quarter of 2020, before the seismic industry was hit by the pandemic-induced slowdown. The worst time for the fleet was from the third quarter of 2020 through March 2021, when 46% of the global fleet was inactive (either standby in port or...
September 30, 2021

Seismic vessel utilization recovers to pre-COVID-19 level as market embraces energy transition jobs

Waed
Wa’ed approves SR1.9m venture capital investment in leading podcast training platform Mohtwize
RIYADH — Wa'ed, the entrepreneurship arm of Aramco, has announced a SR1.9 million venture capital investment in Riyadh-based Mohtwize, a leading podcast tech developer across the Mena region aiming to empower audio content creators through podcast training and providing sponsorship opportunities.The investment in Mohtwize, founded in 2018 by former podcaster Khalid Alkenaa, aims to create a sustainable business model for podcasts, a fast-growing medium in the Kingdom that already attracts 5.1 million regular listeners a week.Mohtwize plans to use the investment from Wa’ed Ventures, the venture capital arm of Wa’ed, to further develop its software solution, expand staffing and increase the platform’s content, which is downloaded about 2 million times every month.By helping...
September 30, 2021

Wa’ed approves SR1.9m venture capital investment in leading podcast training platform Mohtwize

Jabal Omar Masterplan 2,600.32 SQM Land Sale Outline (Photo source JODC)
JODC secures over half a billion riyals from land plot sale in Jabal Omar Project
MAKKAH — Jabal Omar Development Company (JODC), one the largest real estate developers in Saudi Arabia, announced it has sold a parcel of land within its project via a public auction for SR517 million.The proceeds from the strategic land sale will enable the company to progress with the completion of construction of Phase 4 of its masterplan and is in line with the developer’s holistic financial transformation strategy that seeks to strengthen its capital structure.The land plot, with a total area of 2,600.32 sqm, was sold at SR199,000 per sqm.Khalid Al Amoudi, CEO of Jabal Omar Development Company, said: “The successful outcome of the auction is testament to investors’ confidence in the long-term viability and scalability of Jabal Omar’s master plan and proves that there is...
September 30, 2021

JODC secures over half a billion riyals from land plot sale in Jabal Omar Project

Khalid Al Muawad
Pioneering creative Saudi youth and cutting-edge technology in tourism
Khalid Al MuawadSaudi Arabia is undergoing a significant cultural shift in parallel with the economic diversification of the Kingdom. Digital transformation is paving the way for creative innovation and new job creation in key sectors such as technology and tourism that will further drive diversification.Saudi Arabia has been establishing itself as an entrepreneurial hub and can leverage on its tech-savvy young nationals as it continues to open up new opportunities.According to the General Authority for Statistics, over two-thirds of Saudi Arabia’s population is under the age of 35. Upskilling the Saudi workforce can forge a dynamic and fruitful job market for the younger generation. Not only will digitalization and innovation support the economic growth of the country, it will also...
September 30, 2021

Pioneering creative Saudi youth and cutting-edge technology in tourism

Asad Ahmed
A&M: Robust double digit QoQ growth in financing and deposits of top 10 Saudi banks
DUBAI — Leading global professional services firm Alvarez & Marsal’s (A&M) latest Saudi Arabia Banking Pulse for Q2 2021 highlights that the total Loans & Advances (L&A) and deposits of top ten Saudi banks witnessed a robust double-digit growth as compared to the previous quarter.Total L&A increased by 13.1 percent and deposits grew by 12.6 percent from Q1’21. L&A and deposit growth was primarily supported by the merger of National Commercial Bank (NCB) and SAMBA to form Saudi National Bank (SNB). The operating income increased for the fourth consecutive quarter by 8.4 percent quarter over quarter (QoQ).The overall operating efficiency for the banking sector deteriorated in Q2’2021 owing to higher operating expenses (+13.7 percent QoQ) and impairments (+81.6 percent QoQ), impacting...
September 30, 2021

A&M: Robust double digit QoQ growth in financing and deposits of top 10 Saudi banks

Phil Le-Brun
Why constant change must be the new normal for enterprises
Phil Le-BrunWhat a difference a year makes. Just over a year ago, survival was the order of the day, imperilled by enforced at-home working, brittle supply chains, and rapidly changing customer expectations and buying behaviors.Some businesses, such as those in travel and hospitality, had to dramatically dial down their services or completely pivot practically overnight, while others, such as supermarkets, had to double down efforts to meet a huge surge in demand from their customers.Yet, as difficult as the pandemic has been for many businesses, it has also acted as a catalyst for cloud adoption and digital transformation. Over the last 18 months or so, we’ve seen more and more companies turn to the cloud.To gain a better understanding of how enterprises managed to reinvent their...
September 30, 2021

Why constant change must be the new normal for enterprises

China is set to splurge over $120 billion on services and drill 118,000 wells through 2025
OSLO — China is looking to pump up oil and gas production in the years ahead to meet climbing domestic demand and reduce the record-high share of imports in its oil consumption.A Rystad Energy report projects a surge in spending till 2025, which will be accompanied by a drilling spree totaling 118,000 wells that will create significant opportunities for suppliers.China’s national oil companies (NOCs) are expected to splurge more than $120 billion on drilling and well services in the five-year period of 2021-2025, seeking to meet the rising oil and gas demand.At the same time, the country aims to supply more of its oil demand from domestic sources, after the share of imported crude oil has risen steadily from 2014 to a high of almost 75% last year.To be exact, CNPC, CNOOC and Sinopec...
September 30, 2021

China is set to splurge over $120 billion on services and drill 118,000 wells through 2025

Joseph Salem, partner, and travel & transport practice lead, at Arthur D. Little Middle East
Saudi Arabia’s autonomous vehicle plans progressing
RIYADH — Events that transpired following the COVID-19 outbreak have altered many long-standing habits from the pre-pandemic era, with various sectors implicated in the widespread change. Within the mobility sector, many passengers now favor transport modes perceived as safer and more hygienic, and have shifted their usage accordingly.Arthur D. Little (ADL), the leading management consultancy firm with the longest-standing presence in the Middle East region, elaborates on this and many other findings in their new Autonomous Mobility Journal, the series’ third edition.The journal comprises exclusive coverage of the latest autonomous mobility developments worldwide, shedding light on industry dynamics, prominent use cases, and the vitality for mobility solution providers and governments...
September 30, 2021

Saudi Arabia’s autonomous vehicle plans progressing

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