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1851 - 1860 from 16577 . In "BUSINESS"
Khalil Ibrahim Al Sedais
KPMG Report: NBFIs lending in Saudi Arabia sustained growth in 2021
RIYADH/DUBAI — The first edition of KPMG’s Future of Non-Bank Financial Institutions (NBFIs) Financing looks into the performance of these institutions in the Kingdom. The publication provides a directional view on the $14.5 billion (SR54 billion) NBFI industry covering the real estate, automotive, commercial equipment and other consumer financing. This sector is already playing a pivotal role in lending to specific segments of borrowers in Saudi Arabia.“Despite market turbulence, we have observed growth momentum during the first half of 2021 that started during the second half of 2020 after consumer confidence was regained. It is especially noticeable in the mortgage industry, where volumes were all time high due to domestic demand of housing, low interest rate environment and...
September 30, 2021

KPMG Report: NBFIs lending in Saudi Arabia sustained growth in 2021

Bahrain Minister of Transport and Telecommunication Kamal Bin Ahmed.
Bahrain launches the fastest Global Sea-to-Air logistics hub in the region
MANAMA — The kingdom of Bahrain launched the fastest regional multi-modal logistics hub in the region with only a 2 hour turnaround time for all containers — meaning products can be with customers in half the time and at 40% of the cost.The launch of the “Bahrain Global Sea-Air Hub” capitalizes both on Bahrain’s strategic position midway between European and Asian markets as well as on its proximity to regional target markets by establishing the most efficient multimodal sea-air transshipment hub in the region with a global reach.The hub relies on streamlined clearance procedures, optimized logistics, and full digitization to achieve an end-to-end lead time of just under two hours for goods transiting from Bahrain International Airport to Khalifa Bin Salman Port, and vice...
September 30, 2021

Bahrain launches the fastest Global Sea-to-Air logistics hub in the region

S N Subrahmanyan
L&T to showcase its capabilities in multiple sectors in Expo 2020
DUBAI — Larsen & Toubro (L&T) will be participating in the much- anticipated Expo 2020, Dubai as part of the Indian Pavilion.L&T plans to demonstrate its capabilities particularly in the Hydrocarbon Engineering (LTHE), Water Effluent Treatment (WET) and Power Transmission & Distribution (PT&D) businesses.Apart from these businesses L&T Group companies like Mindtree, LTI and LTTS will also showcase their capabilities.L&T’s portfolio strategy targets a well-balanced and geographically diversified businesses across India and international markets.The Middle East has been one of the key growth regions for the company, which constitutes almost 61% of the international order book of INR.68,773 crore ($9,280 million). The region also accounted for 13% of L&T’s total order book...
September 30, 2021

L&T to showcase its capabilities in multiple sectors in Expo 2020

The Reserve Bank of India, the country's central bank, has been bailing out ailing commercial banks.
'Bad bank' to clean up India's $27bn debt mountain
NEW DELHI -- With more than 150,000 branches loaded with $2tn (£1.46tn) worth of deposits and serving over a billion customers, India's banks look impressive on paper but In reality, they are in a mess, says a BBC report on Thursday.A clutch of banks is saddled with tens of billions of dollars of bad loans after years of injudicious lending to dud projects. State-owned banks account for more than 60% of the sour debt. Five banks have been rescued from collapse since 2018.Bad loan recoveries have traditionally been low -- up to a third of total loans -- and have only improved a bit (40-45%) after a 2016 bankruptcy law which allows for liquidation of assets. And now borrowers hit by the pandemic could further default and add to the soaring debt in the coming months.The bailouts -- more...
September 30, 2021

'Bad bank' to clean up India's $27bn debt mountain

Saudi EXIM Bank, Arab Bank for Economic Development in Africa sign MoU
RIYADH -- Saudi Export-Import Bank (Saudi EXIM Bank) has signed a memorandum of understanding with the Arab Bank for Economic Development in Africa (BADEA) with the aim of establishing a general framework for cooperation and coordination to support the commercial financing sector.The agreement is to provide some financial products that encourage international banks and commercial financing institutions to support and finance export orders via financing private sector projects and trade operations.The memorandum was signed by CEO of Saudi EXIM Bank Eng. Saad bin Abdulaziz Al-Khalb and BADEA Managing Director Dr. Sidi Ould Tah.Under the memorandum, BADEA will finance private sector operations through direct or indirect funds, in addition to financing commercial operations in a bid to...
September 30, 2021

Saudi EXIM Bank, Arab Bank for Economic Development in Africa sign MoU

OPPO Reno6 Series 5G goes on sale: KSA’s first phone with OPPO 65W SuperVOOC 2.0
RIYADH — After the successful launch of the Reno6 Pro 5G and the Reno6Z 5G on 15th September, OPPO, the leading global smart device brand, announces the sale of OPPO Reno6 Series 5G, starting today on mainline retailers.In line with Reno’s legacy of industry-first customer-centric technology innovations, the OPPO Reno6 5G is an all-rounder superphone that features a Qualcomm®️ Snapdragon™️ 870 Mobile Platform, 65W SuperVOOC 2.0, an elevated OPPO Reno Glow design, and ColorOS11.3, giving users a trendsetting smartphone with an unbeatable experience.Bundled with some exciting offers the OPPO Reno6 Pro 5G will come in two dazzling color variants Arctic Blue and Lunar Grey.The OPPO Reno6 Pro 5G and Reno6 Z 5G will be available for SAR 2999 and SAR 1499, with the first sale starting...
September 29, 2021

OPPO Reno6 Series 5G goes on sale: KSA’s first phone with OPPO 65W SuperVOOC 2.0

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LNG price rally spurs oil switch in Asia, boosting oil prices and demand by 400,000 bpd
OSLO — The recent rally in LNG prices in Europe and Asia has dramatically widened the economic incentive to switch from natural gas to oil in power generation. Steep carbon regulations and operational constraints limit Europe’s ability to burn oil in power plants, but Asia has more flexibility.If the gap between LNG and oil prices remains wide, Asia is set to boost oil demand by 400,000 barrels per day on average over the next two quarters, a Rystad Energy report shows. This will support already high oil prices.Asia’s liquid-burning capacity for power generation has declined over the past 10 years, but still sits at about 100 gigawatts (GW), mostly in Japan, Taiwan, Indonesia, Bangladesh and Pakistan.Asia’s current oil consumption for power generation fluctuates at around 900,000...
September 29, 2021

LNG price rally spurs oil switch in Asia, boosting oil prices and demand by 400,000 bpd

SAUDIA Skytrax 2021
SAUDIA crowned the world's most improved airline in 2021
JEDDAH - Skytrax announced on Tuesday that SAUDIA is the World’s Most Improved Airline of 2021. This is the second time that SAUDIA has won this award since 2017. That year, the Saudi flag carrier impressively jumped from the 82nd to 51st position, a 40% improvement.This year, however, SAUDIA improved by a stunning 55% and is now 26th in the Skytrax ranking of global airlines.The award cements the airline’s status as a full scale global carrier, constantly innovating its onboard service and culinary offering. Being awarded this accolade award reflects the dedication to quality and performance improvements in different award categories including cabin crew, food & beverage, in-flight entertainment and more.The Skytrax award comes as yet another milestone in SAUDIA’s on-going...
September 28, 2021

SAUDIA crowned the world's most improved airline in 2021

Members of Cruise Saudi and CLIA at Seatrade Global in Miami. (L-R) Mark Robinson, chief commercial and operations officer of Cruise Saudi; Kelly Craighead, president and CEO of CLIA; Miguel Reyna chief development & asset management officer of Cruise Saudi; Pierfrancesco Vago, global chairman of CLIA (and executive chairman of MSC Cruises); Ragda Bakhorji, corporate communications manager of Cruise Saudi.
Cruise Saudi Joins Cruise Lines International Association
MIAMI — Cruise Saudi was formally welcomed as an executive partner of Cruise Lines International Association (CLIA) during the annual CLIA Diamond Partner Lunch at Seatrade Cruise Global.As the world's largest cruise industry trade organization, CLIA provides a unified voice and is the leading authority of the global cruise community, fostering the success of its members by advocating, educating and promoting their common interests.As a member of CLIA, Cruise Saudi joins more than 50 cruise lines, 13,000 global travel agency and 50,000 travel agent members and the other 95% of the world’s ocean-going cruise capacity bodies.Cruise Saudi will have the opportunity to attend networking events and engage with industry stakeholders from around the world to build relationships and...
September 28, 2021

Cruise Saudi Joins Cruise Lines International Association

Eng. Suliman Bin Khalid Almazroua, CEO of NIDLP, and Eng. Ali Alhazmi, CEO of ABHGA. sign the cooperation agreement between the National Industrial Development and Logistics Program (NIDLP) and Ajlan & Bros Holding Group Abilitii (ABHGA) on Tuesday.
ABHGA signs 10-year cooperation agreement with NIDLP
RIYADH — The National Industrial Development and Logistics Program (NIDLP) and Ajlan & Bros Holding Group Abilitii (ABHGA), agreed on Tuesday, to a cooperation agreement under the patronage and presence of the Minister of Industry and Mineral Resources Bandar Bin Ibrahim Alkhorayef, chairman of the program committee, and Mohamed Bin Abdulaziz Alajlan, deputy chairman of Ajlan & Bros Holding Group Abilitii (ABHGA). The agreement was signed by Eng. Suliman Bin Khalid Almazroua, CEO of NIDLP, and Eng. Ali Alhazmi, CEO of ABHGA.Eng. Almazroua affirmed the importance of cooperation between the public and private sectors to push development in the Kingdom and to achieve the goals of the Saudi Vision 2030. He supported empowering and motivating the private sector through active communication...
September 28, 2021

ABHGA signs 10-year cooperation agreement with NIDLP

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