Latest from Banking, Investments, Money, Insurance, Futures, Stock in Saudi Arabia and Middle East

Banking, Investments, Money and Insurance

5G Holds the Key to Saudi Arabia's Digital Future

By Fadhel Isa, Chief Technology Officer at Ericsson Saudi Arabia October 22, 2020: At the dawn of a new decade, we have continued to leverage our technology towards our customers and achieved a significant milestone by securing the company’s 100th commercial 5G contract. As we celebrate this momentous occasion, we also ......Read More

Thursday, October 22, 2020

Almarai Announces Next Phase of Digital Transformation to Boost Middle East's Food Self-Sufficiency

• Almarai Supports Saudi Vision 2030’s Local Manufacturing and Self-Sufficiency • SAP S/4HANA Intelligent Suit Optimizes Production and Distribution to Tens of Millions of Consumers Across the GCC, Egypt, and Jordan RIYADH, Kingdom of Saudi Arabia – 13 October 2020: Almarai, the Middle ......Read More

Wednesday, October 14, 2020

BofA - National Commercial Bank: Creating Saudi's National Champion of Banking

October 12, 2020: Refer to important disclosures at the end of these reports (see links below). Please note, you may quote directly from this research report solely in your reporting as a member of the media; however all quotes must be cited as having come from a BofA Global Research report. All other copying, redistribution, retransmission, republication and any other unauthorized dissemination or use of the contents of the report or the link thereto are prohibited. If you are interested in interviewing an analyst, your request must be directed to Research Communications & Media Relations. EMEA Equity Research Daily Highlights Global Steel: Greener Steel: Molten Oxide ......Read More

Monday, October 12, 2020

Younger Saudi Healthcare Professionals Are Enthusiastic Adopters of New Technology, According to the ...

• Saudi Arabia's younger healthcare professionals are well prepared for both the clinical and non-clinical aspects of their roles by their medical education • 51% of younger healthcare professionals in Saudi Arabia know a lot about value-based care, which is among the highest awareness out of all of the countries ......Read More

Monday, October 12, 2020
Barakatalan Launches New Coupons & Deals Website in the Middle East

As everything in the world is quickly changing and developing so is the e-commerce market around the globe. With people getting fast internet access and reliability over modern technology, they have switched from traditional shopping to online shopping. And this online shopping has given rise to the e-commerce market. While the e-commerce ......Read More

Tuesday, October 6, 2020

Saudi Bugshan Company Transforms its Business Operations with IBM Cloud

New cloud environment to support the company’s business growth and need for enterprise-grade security JEDDAH, Saudi Arabia, September 28, 2020: Saudi Bugshan Company (SBC), in collaboration with its technology arm Brmaja Commercial Company (Brmaja), has selected IBM Cloud to host its IT infrastructure. This transition ......Read More

Monday, September 28, 2020

Kantar to Launch the First BrandZ Top 30 Most Valuable Emirati and Saudi Brands

Experts from six WPP companies across the United Arab Emirates and the Kingdom of Saudi Arabia share insights in the report. September 23, 2020: Kantar announces the inaugural launch of the BrandZ™ Top 30 Most Valuable Emirati and Saudi Brands on 6 October 2020 at a virtual event. The ranking identifies the ......Read More

Wednesday, September 23, 2020

Knight Frank's Saudi Arabia National Housing Survey highlights the residential demand preferences of ...

Knight Frank’s Saudi Arabia National Housing Survey is a detailed quantitative and qualitative survey, which highlights the residential demand preferences of owner-occupiers, renters and those living with their families across Saudi Arabia’s major cities. The survey was designed to bridge the gap in the understanding of effective demand and supply. Riyadh, KSA, 20th September 2020: Over recent times despite shifts in demographics, a reduction in household sizes and on-going cultural reform, we have seen very little change in the nature of housing supply across the kingdom. The majority of new stock is centred towards large villas on the periphery of the ......Read More

Sunday, September 20, 2020
Jones Day advises Sponsors on closing of Jeddah Airport 2 ISTP Project in Saudi Arabia

• Largest such project in the Kingdom • Critical project for the city of Jeddah • Part of Vision 2030 infrastructure reforms September 17, 2020: Jones Day has acted as legal counsel on the financial closing of the Kingdom of Saudi Arabia’s largest privately-financed sewage treatment plant, the Jeddah Airport 2 ISTP. The project forms part of the Saudi Government’s Vision 2030 and will bring significant benefits to the city of Jeddah. Jones Day acted on all aspects of the Jeddah A2 ISTP for the consortium of sponsors who are investing in the plant, consisting of The Power and Water Utility Company for Jubail and ......Read More

Thursday, September 17, 2020

Marafiq and its Partners, Veolia and Amwal AlKhaleejiah, Reach the Financial Closing of Jeddah Sewag ...

SWPC and the consortium composed by Marafiq, Veolia, and Amwal AlKhaleejiah have successfully achieved the financial closing of the US$ 280M ISTP (Independent Sewage Treatment Plant) project for Jeddah. September 13, 2020: Marafiq (Power and Water Utility Company for Jubail and Yanbu) is the lead developer in Jeddah Airport 2 ISTP ......Read More

Sunday, September 13, 2020

New COVID-19 Response Report Analyses Saudi Arabia's Insurance Industry as Digitisation Gains Pace'

Oxford Business Group and Najm Insurance Services launch latest research tool Riyadh, 10 September 2020: The impact of Covid-19 on the insurance sector in Saudi Arabia and the efforts of sector players to support the national response to the challenges of the pandemic are explored in a new Covid-19 Response Report (CRR) by Oxford Business Group (OBG), produced with Najm Insurance Services. The CRR provides an in-depth analysis of Saudi Arabia’s response to the coronavirus in an easy-to-navigate and accessible format, focusing on key data and infographics relating to the country’s socio-economic landscape. The report examines ......Read More

Thursday, September 10, 2020

Ogilvy Becomes First Agency Brand to Reach 1 Million Followers on LinkedIn

September 10, 2020: Ogilvy has become the first agency brand to reach an impressive social media milestone: one million followers on LinkedIn. LinkedIn has become the social destination for business, employment, and company culture content. Ogilvy’s global social and thought leadership strategy is a natural fit with LinkedIn. The one million follower landmark is the result of the cultivation of a community where big ideas that shape brands are shared, celebrated, and discussed. Ogilvy’s one million LinkedIn followers come from across the globe and the business spectrum. The top five nations represented in Ogilvy’s LinkedIn ......Read More

Thursday, September 10, 2020
Saudi Arabia has Reached the Highest Download Speed of 144.5 Mbps Through 5G Networks Among Differen ...

Please find below the statement from Femi Oshiga, VP Sales, Service Providers, Middle East & Africa, CommScope: Saudi, September 02, 2020: ”It’s incredibly encouraging to see such download speeds being reached in Saudi Arabia through 5G networks. As we’re beginning to see, 5G holds the promise of ......Read More

Thursday, September 3, 2020

Intention to List Bindawood Holding Company On the Saudi Stock Exchange (Tadawul)

Saudi, August 31, 2020: BinDawood Holding Company (“BinDawood Holding” or the “Company”), one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom of Saudi Arabia (“KSA” or “Saudi Arabia”), announces its intention to proceed with an initial public offering ......Read More

Monday, August 31, 2020

Lucid Air to be the Fastest Charging EV, Featuring a 900V+ Architecture Delivering a Charging Rate ...

Partnerships with Electrify America include unlimited three-year subscription of 350kW fast charging at its nationwide network and with QMerit for installation of Lucid’s bi-directional home charger for car-to-grid capability together deliver future-proof solutions for Lucid customers Saudi - August 25, 2020: Lucid Motors, which seeks to set new standards for sustainable transportation with its advanced luxury EVs, today announced the Lucid Air will be the fastest charging electric vehicle ever offered with the capability to charge at rates of up to 20 miles (32 km) per minute. For owners charging their Lucid Air in real-world conditions on the road, that translates ......Read More

Tuesday, August 25, 2020

Vision 2030-Driven Digital Transformation Gave Ksa Resilience Needed to Face Pandemic and Beyond

Munir Eldesouki, Assistant Minister, Ministry of Communications and Information Technology, tells Oxford Business Group RIYADH, Kingdom of Saudi ARABIA, 24 August 2020: Vision 2030, Saudi Arabia’s, gave the Kingdom of Saudi Arabia the resilience it needed to navigate through the COVID-19 global pandemic, according to insights given by H.E Dr. Munir Eldesouki, Assistant Minister, and Mrs. Daniah Orkoubi, Chief Economist, at the Kingdom’s Ministry of Communications and Information Technology, in recent interviews with Oxford Business Group’s online broadcasting channel, Global Platform. Digitally enabled through more than a dozen ......Read More

Monday, August 24, 2020
FUNKO Bagged a New Guinness World Records™ Title

The largest packaged product mosaic (image) measures 157.7 m² and consisted of 8,600 items 20 August 2020 – Guinness World Records™ (GWR), the global authority on record-breaking achievements announced a new world record for The largest packaged product mosaic (image) measures 157.7 m² which was achieved by Funko ......Read More

Thursday, August 20, 2020

Shaker Group Achieves Net Profit for 1H 2020; Strong Sales Drove Revenue Growth of 8.4%

Successful Breakthrough Program, supported by agile response to Covid-19, have returned the Group to profitability for the first time since Q3 2016 Riyadh, Saudi Arabia, 18th August 2020: Shaker Group (“Al Hassan Ghazi Ibrahim Shaker Co.”, the “Company” or the “Group”), Saudi Arabia’s leading ......Read More

Tuesday, August 18, 2020

AMAALA Strengthens Partnership With Saudi-based Company Hasco

Saudi start-up leading excavation, backfilling, and earthworks for Triple Bay Marina The yacht club at Triple Bay 17 August 2020: AMAALA, the ultra-luxury destination located along Saudi Arabia’s northwestern coast, has awarded the contract for excavation, backfilling, and earthworks to Duba-based ......Read More

Monday, August 17, 2020

Global Commercial Insurance Pricing Increased 19% in Second Quarter COVID-19 Among Range of Losses I ...

August 13, 2020: Global average commercial insurance prices increased 19% in the second quarter of 2020, according to the Global Insurance Market Index released today by Marsh, the world’s leading insurance broker and risk adviser. The increase, the largest since the index was launched in 2012, follows year-over-year average increases of 14% in the first quarter and 11% in the fourth quarter of 2019. As with the first quarter, average price increases were driven principally by increases in property insurance rates and financial and professional lines. Among other findings, the survey noted: • Global property insurance was up 19% and global ......Read More

Thursday, August 13, 2020
Latest COVID-19 Response Report on Saudi Arabia Highlights E-commerce Expansion

Oxford Business Group and Saudi Payments launch new economic analysis Riyadh, 13 August 2020: A new Covid-19 Response Report (CRR) by Oxford Business Group (OBG), produced in partnership with Saudi Payments, charts the shift under way in the Kingdom towards e-commerce and digital transactions, which is expected to be ......Read More

Thursday, August 13, 2020

Bilfinger Middle East signs its first Digitalization Contract with Saudi Tabreed

• Bilfinger first digitalization contract in the Middle East • Objective is to analyze and optimize the operation of chiller modules with the help of BCAP (Bilfinger Connected Asset Performance) • Location: Saudi Arabia, ......Read More

Thursday, August 13, 2020

The New Reality of Consumer Behaviors That Will Define Telco Services in the Kingdom of Saudi Arabia

BCG's telco focused consumer behavior study found that 53 percent of respondents in the Kingdom of Saudi Arabia expects the changes in consumption trends to continue beyond the lockdown, highlighting the importance of telco services in the Kingdom Riyadh, August 13 2020: The COVID-19 pandemic and the ensuing lockdown have ......Read More

Thursday, August 13, 2020

Greenpeace Statement: Open Letter to the UN Regarding the FSO SAFER

13 August 2020: Commenting on the publication of an open letter to the UN Secretary-General urging them to take action to deal with the FSO SAFER oil tanker and stop a humanitarian and environmental catastrophe off Yemen, Greenpeace MENA Executive Director Zeina Alhajj said: “Time has run out on doing nothing to avert the looming social and ecological disaster that is the FSO SAFER oil tanker. Inaction is no longer an option. “The UN is our last, best hope of averting a catastrophic oil spill in the Red Sea. It has all the influence and expertise to solve the problem and Greenpeace urge the Secretary-General to make repairing the tanker and removing the million barrels ......Read More

Thursday, August 13, 2020
DREI Organises Virtual Real Estate Conference With Saudi Partners

The conference discusses real estate challenges and solutions post COVID-19 and cements cooperation between the UAE and KSA 3 August 2020: The Dubai Real Estate Institute (DREI) in Dubai Land Department (DLD) is organising the first virtual real estate conference titled ‘Real Estate post-COVID-19 – Challenges and ......Read More

Monday, August 3, 2020

Saudi Arabia's Amlak International Achieves 129% Net Income Growth in H1 2020

• Revenue grew 6.2% to reach SAR 73.2 million for Q2 2020, and 7.9% to reach SAR 148.4 million for 1H 2020 • Earnings before tax (EBT) of SAR 28.5 million, at margin of 38.9% • Net real estate financing portfolio grew by 9.56% or SAR 305.6 million • New disbursements across the lending book increased by 22.32% • Amlak completed its listing on Tadawul in July, under ticker symbol 1182 Riyadh, Saudi Arabia, 29 July 2020: Saudi Arabia’s leading non-bank real estate lender, Amlak International (“Amlak” or the “Company”), has announced its financial results for the period ended 30 June 2020. Net income grew by 20.9% ......Read More

Wednesday, July 29, 2020

Next Chapter of Medina's Growth Story Mapped Out in New Report

Oxford Business Group launches landmark analysis of key region in Saudi Arabia Dubai, United Arab Emirates, July 28, 2020: The key role earmarked for the Medina region of Saudi Arabia in driving growth across the non-oil sector of the Kingdom’s economy is mapped out in a new report by the global research and advisory firm Oxford Business Group (OBG), produced in partnership with Al Madinah Regional Development Authority. The Report: Medina 2020 puts the new Al Madinah Region Strategy 2030 under the microscope, looking at its objectives, while analysing the way in which they dovetail with the social and economic targets laid out in Vision 2030, Saudi Arabia’s ......Read More

Tuesday, July 28, 2020

Instinctif Partners and Advert One Complete IPO Advisory Role for Amlak International

27th July 2020: Instinctif Partners and Advert One have completed their role in providing strategic communications counsel and public relations to Saudi Arabia’s leading non-bank real estate lender, Amlak International, for its IPO on the Saudi Stock Exchange. Established in 2007 and headquartered in Riyadh, Amlak offered 30% of its ......Read More

Monday, July 27, 2020
Spanish Contingent Grows at Golf Saudi as Pablo Larrazabal is Confirmed as Latest Ambassador

Pablo Larrazabal joins Adri Arnaus as Golf Saudi’s newest international ambassador 21 July 2020, Riyadh, Saudi Arabia: Golf Saudi has confirmed that Pablo Larrazábal is the latest professional player to join their ranks as an international golfing ambassador. The in-form Spaniard joins his fellow compatriot Adri ......Read More

Tuesday, July 21, 2020

KSA Residential Sector is Expected to See a Shift towards Rental says JLL

Riyadh, KSA, 21 July 2020 – Saudi Arabia’s real estate sectors remained soft during quarter two, although the residential market remained somewhat active and saw several key projects delivered across the Kingdom’s major cities, according to JLL’s 2020 mid-year review report. The report, however, highlighted that in the ......Read More

Tuesday, July 21, 2020

Investing in Infrastructure is Essential to Securing KSA's Digital Future

Industry Roundtable Identifies Increased Investment and Co-Creation as Essential to Helping Meet the Kingdom’s Growing Digitization Demands Kingdom of Saudi Arabia – 15 July 2020: During the virtual roundtable discussion hosted by Cisco, titled ‘Securing the Internet for the Future: Investing in the Road to ......Read More

Wednesday, July 15, 2020

Commvault Announces Simply Rewarding Partner Advantage Program

— New and enhanced rebates; Increased flexibility across program tiers; and new deal registration benefits, all coupled with an innovative, partner-ready product portfolio positions partners to grow, profit and be future ready — July 15, 2020: Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced the launch of its enhanced Partner Advantage program, creating a path for partner future readiness built on industry-leading intelligent data management solutions and a commitment to innovation. With the evolution of the program, partners will receive a ......Read More

Wednesday, July 15, 2020
The Diplomatic Quarter General Authority in Riyadh Inks First of Its Kind Strategic Deal with TAWAL

Saudi, July 14, 2020: The Diplomatic Quarter General Authority has recently partnered with the leading integrated ICT Infrastructure service provider in the Kingdom, TAWAL, for the development of the area’s telecommunication infrastructure. The strategic partnership is first of its kind in Saudi Arabia through which TAWAL will be ......Read More

Tuesday, July 14, 2020

Amlak International Allocation of Shares, Excess Money Refund, and Trading to Begin on Monday 22/11/ ...

Riyadh, Saudi Arabia: 12 July 2020: NCB Capital, the Financial Advisor, Lead Manager, Bookrunner and Underwriter of Amlak International’s IPO announced the completion of the allocation of shares for individual (retail) subscribers. NCB Capital said that after closing the subscription period for the retail tranche, all receiving banks ......Read More

Sunday, July 12, 2020

UTURN by Webedia Arabia Group Announces the Launch of “TAKKI” on NETFLIX

Dubai, United Arab Emirates, July 7, 2020: Webedia Arabia Group, a leading media and technology company developing strategic, insight-driven, culturally-led and creative content for Arab Consumers, announces Netflix’s licensing of the popular Saudi drama series, Takki, which is now available for viewing on the platform. Produced by UTURN which is part of Webedia Arabia Group, the dramatic series follows the story of a young Saudi film director following his dream of what was once a ban of cinemas in the Kingdom and several other social issues such as women not being able to drive at one point in time. It reflects facets of the Saudi society and the social ......Read More

Tuesday, July 7, 2020

Amlak International Completes IPO Retail Coverage at 2,690%

• Total retail coverage at 2,690% • Institutional book build achieved coverage of 498% • Successful IPO demonstrates investor confidence in Company fundamentals and long-term attractiveness of Saudi capital market Riyadh, Saudi Arabia: 7th July 2020: NCB Capital, Financial Advisor, Lead Manager, ......Read More

Tuesday, July 7, 2020
Cisco Webex Helps Customers Stay Remotely Connected and Reimagine Work

Webex Adds More Capacity, Even More Security and Intelligent Insights and Simplifies Telehealth News Summary: • Webex platform sees unprecedented demand and more than triples its normal volume. • As the foremost trusted business continuity provider, Cisco invests in the resilience of Webex through ......Read More

Saturday, July 4, 2020

Amlak International's IPO Launches Retail Subscription With SAR 16 Share Price for the Offer

Riyadh, Saudi Arabia: 2 July 2020: NCB Capital, Financial Advisor, Lead Manager, Bookrunner and Underwriter for Amlak International’s IPO, announced that the individuals (retail) subscription period for 2,718,000 shares offered for IPO at a price of SAR 16 per share will start today 11/11/1441H (2 July 2020G). The subscription ......Read More

Thursday, July 2, 2020

Cisco Launches Portfolio of Solutions to Boost Business Resiliency for the Workforce and Workplace T ...

• Business leaders looking to IT to meet today’s social distancing requirements in the workplace • New solutions to maintain seamless and secure productivity for a remote workforce • New offerings to support Healthcare and Education as they transform to new business models Al Riyadh, Saudi ......Read More

Wednesday, July 1, 2020

Cisco Expands Simple and Secure Portfolio to Help Small Businesses Thrive

New Cloud-Driven Solutions from Cisco Make Buying, Installation & Maintenance Easy • New dedicated online destination for small businesses on Cisco.com. • New “Buy Now” button on Cisco.com, providing faster access to Cisco & partner expertise • New technology and offers in the Cisco ......Read More

Saturday, June 27, 2020
Saxo Bank Launches Loyalty Program for MENA Region Clients

Saxo Rewards is a transparent, highly personalized scheme powered by AI and big data June 23, 2020: Saxo Bank, the leading fintech and regtech specialist focused on multi-asset trading and investment, has introduced Saxo Rewards, a new, highly personalized loyalty program that offers traders and investors the opportunity ......Read More

Tuesday, June 23, 2020

SEDCO Capital Achieves 30% IRR from Office Property Sale in Germany

Jeddah, Saudi Arabia, June 22, 2020: SEDCO Capital, a global Shariah compliant asset manager, has successfully exited German-based ABC West, a multi-let office property, realizing an Internal Rate of Return (IRR) of 30% for its investors. SEDCO Capital sold the property for €52.9 million compared to a purchase price of €29.4 million in 2017. ABC West is a 13,723 sqm of office space located in Frankfurt and was managed by GLL Real Estate Partners GmbH, a European real estate asset manager. With more than €485 million of investments made in European real estate, SEDCO Capital’s International Real Estate team actively manages a diverse portfolio of ......Read More

Monday, June 22, 2020

Shaker Group Narrows Q1 Losses; Improved Sales and Cost Optimization Reduce Net Loss by 88.5%

Riyadh, Saudi Arabia, 21st June 2020: Shaker Group (“Al Hassan Ghazi Ibrahim Shaker Co.”, the “Company” or the “Group”), Saudi Arabia’s leading importer, manufacturer and distributor of Air Conditioners and Home Appliances, has announced its financial results for the 3-month period ended 31 March 2020. Revenue of SAR 221 million improved by 12% from Q1 2019 and 20% from Q4 2019. The Group recorded a first quarter net loss of SAR 3.3 million, decreasing by 88.5% year-on-year. The Group’s operating loss for the quarter was SAR 3.9 million, improving by 80.1% compared to a loss of SAR 19.6 million in Q1 ......Read More

Sunday, June 21, 2020

Investments in Telecoms and Health System Pay Dividends as Saudi Arabia Eyes Economic Turnaround

Oxford Business Group launches new Covid-19 Response Report Riyadh, 21 June 2020: The key part that sustained investments in Saudi Arabia’s digital infrastructure have played in helping to successfully contain the spread of the coronavirus and keep the Kingdom’s economic diversification plans on track is analysed in a ......Read More

Sunday, June 21, 2020
Amlak International Announces Intention to List on Saudi Stock Exchange

June 14, 2020: Amlak International for Real Estate Finance (“Amlak”, “Amlak International” or “the Company”), Saudi Arabia’s leading non-bank real estate finance company, announces its intention to proceed with an Initial Public Offering (the “IPO” or the “Offering”) on ......Read More

Sunday, June 14, 2020

UL Issues Safety Certification To KSB Pumps Arabia For Use Of Fire Pump Assemblies

• KSB Pumps Arabia becomes first organization in the Middle East to receive the ‘Fire Pump, Driver and Assemblies Certified as to Rating Compatibility’ UL certification Dubai, United Arab Emirates, June 10, 2020: UL, a global independent safety science company, has awarded the first ‘Fire Pump, ......Read More

Wednesday, June 10, 2020

AMAALA's Youth Empowerment Programme Welcomes Next Generation of Saudi Talent

AMAALA Corporate Internship Programme, in partnership with MiSK, kicked off earlier this year to identify and nurture future industry leaders The first group of interns from the MiSK/AMAALA Corporate Internship Programme with Chief Shared Services Officer & Chief of Staff Pete Wu. RIYADH – 01 JUNE 2020 ......Read More

Monday, June 1, 2020

KSA-based Seismic Solutions Company ARGAS Targets Global Expansion'

23 May 2020; Saudi Arabia, Al Khobar: KSA-founded Arabian Geophysical & Surveying Company (ARGAS), the largest seismic acquisition company in MENA, is to expand its business internationally, further building on a strong track record which has made it a leading regional success story in the oil and gas field services industry. Industrialization and Energy Services Company (TAQA) and Paris-based CGG have today jointly announced the signing of a new agreement that will allow the company to expand its offering in integrated marine and land seismic solutions to Oil & Gas industry customers all over the world, giving ARGAS the ability to access potential ......Read More

Saturday, May 23, 2020
Made in Italy, ICSA® Issues a Notification of Counterfeit Products Found in the Kingdom of Saudi Ara ...

Counterfeits of door hinges are found in the KSA Concesio, Italy - (EMAILWIRE.COM) - The following is a notification from ICSA Serrature Srl that the door hinge identified below bears a counterfeit UL Certification Mark. The door hinge has not been evaluated by UL to the appropriate Standards for Safety and it is unknown if they comply ......Read More

Saturday, May 23, 2020

KSA-Based Seismic Solutions Company ARGAS Targets Global Expansion

21 May 2020 - Saudi Arabia, Al Khobar: KSA-founded Arabian Geophysical & Surveying Company (ARGAS), the largest seismic acquisition company in MENA, is to expand its business internationally, further building on a strong track record which has made it a leading regional success story in the oil and gas field services industry. Industrialization and Energy Services Company (TAQA) and Paris-based CGG have today jointly announced the signing of a new agreement that will allow the company to expand its offering in integrated marine and land seismic solutions to Oil & Gas industry customers all over the world, giving ARGAS the ability to access potential multi-billion ......Read More

Thursday, May 21, 2020

UAE Banks Among Top Performing in GCC, KPMG Report Finds

21 May 2020: KPMG recently released its fifth edition of the ‘GCC listed banks’ results’ report, which analyzes the published results of listed commercial banks across the region for the year ended 31 December 2019. The report, titled ‘New Age Banking’, demonstrates that the UAE’s top ten banks reported ......Read More

Thursday, May 21, 2020

COVID-19 Triggers Marked Decline in Global Trade: UNCTAD

• Global trade values fell 3% in the first quarter of 2020 • An estimated quarter-on-quarter decline of 27% is expected in the second quarter • Commodity prices fell by a record 20% in March, driven by steep drops in oil prices 13 May 2020: The coronavirus pandemic cut global trade values by 3% in the first quarter of this year, according to the latest UNCTAD data published in a joint report by 36 international organizations. The downturn is expected to accelerate in the second quarter, with global trade projected to record a quarter-on-quarter decline of 27%, according to the report by the Committee for the Coordination of ......Read More

Wednesday, May 13, 2020

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