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

Banking, Investments, Money and Insurance

“KPMG Private Enterprise” Launches Debut Competition for Saudi's Top Tech Innovators

1. Following the success of British edition, the competition has been expanded to 16 countries, including UAE, Saudi Arabia 2. Inaugural Saudi edition by KPMG Private Enterprise Tech Innovator competition will hunt Tech Innovators of Today; Titans of Tomorrow, in the Kingdom 3. KPMG Private Enterprise global network for Emerging Giants Riyadh, Saudi Arabia – June 2, 2021: KPMG is looking for Saudi Arabia’s top tech innovators who are poised and prepared to become tech titans with the launch of Saudi edition of the “KPMG Private Enterprise Tech Innovator Competition”, with the tagline – Tech Innovators of Today; Titans of ......Read More

Wednesday, June 2, 2021

EZVIZ Smart Home Sensor Kit Receives the Prestigious iF Design Award for Refreshing the Connected Sm ...

EZVIZ thoughtfully designed its winning Smart Home Sensor Kit to empower intelligent homes through innovative and interoperable technologies. Saudi, May 30, 2021: EZVIZ, a global leading brand in smart home security, has reaffirmed its unparalleled innovation capacities by winning the iF Design Award 2021. The EZVIZ Smart ......Read More

Sunday, May 30, 2021

New Cisco Research Reveals Collaboration, Cloud, and Security are IT's Top Challenges in EMEAR

IT leaders in the region are adapting to new challenges by prioritizing digitzation, with collaboration, cloud and security more crucial than ever before News Summary: • Report identifies core priorities essential to IT and digital transformation success including: focusing on security and collaboration for a hybrid ......Read More

Monday, May 24, 2021

BinDawood Holding Reports 8.2% Sequential Increase in Net Profit in Q1 2021

Expecting Quarterly Sequential Growth throughout 2021 BinDawood announces a 10-store expansion in Riyadh province Jeddah, Saudi Arabia - 10, May 2021 [TBD]– BinDawood Holding Co. (Tadawul: 4161 and the “Company”), one of the leading grocery retail operators of hypermarkets and ......Read More

Monday, May 10, 2021
Shaker Reports SAR 4.5 Million Net Profit in Q1 2021; Year-on-Year Revenue Growth of 30.5%

• Q1 net profit of SAR 4.5 million compared to net loss of SAR 3.3 million in 2020 • Q1 revenue of SAR 288.3 million improved by 30.5% from 2020 • Earnings per share improved to SAR 0.10 • Shaker and LG have deployed robotics technology at Saudi manufacturing facility Riyadh, Saudi Arabia, 6 May ......Read More

Thursday, May 6, 2021

Saudi Arabia to Significantly Reform Kingdom's Education System through its Human Capital Developmen ...

Education sector offers an abundance of opportunities for operators, developers and equity investors alike. 05, May 2021, Dubai, UAE: Knight Frank has released its Saudi Arabia 2021 Education report which focuses on the four key segments of education: Pre-primary education, Primary and secondary education, Tertiary education and Technical and vocational training. The education sector in the Kingdom of Saudi Arabia is undergoing rapid transformation at all stages of education, especially as policies stemming from Saudi Vision 2030 are put into play. Incredibly, the Kingdom's schoolgoing population is almost three times that of the rest of the GCC and with the growing ......Read More

Wednesday, May 5, 2021

Saudi Arabia's Agricultural Development Fund Chooses Oracle Cloud Applications to Scale Operations i ...

Digitization initiative will enable Saudi credit provider to utilize real-time agricultural data to improve support for farmers and innovate new services Saudi — May 4, 2021: Oracle today announced that the Agricultural Development Fund (ADF) of Saudi Arabia will automate its core finance, procurement and HR functions with Oracle ......Read More

Tuesday, May 4, 2021

Cisco Ranks Number 1 on List of KSA's Greatest Workplaces

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Tuesday, May 4, 2021
Saudi Arabia's SISCO reports Q1 2021 net income growth of 21.4%

• Q1 revenues increased 51.6% y-o-y, excluding accounting construction revenue • Strong performance by ports and logistics segments drive top-line growth • Net income grew 21.4% y-o-y, with earnings per share improving to SAR 0.40 Jeddah, Saudi Arabia, 2 May 2021: Saudi Industrial Services Company (“SISCO”, the “Company” or the “Group”), Saudi Arabia’s leading strategic investor in ports and terminals, logistics parks and services, and water solutions, has announced its financial results for the 3-month period ended 31 March 2021. The following analysis and commentary on revenue growth and margins excludes ......Read More

Sunday, May 2, 2021

Virgin Mobile KSA Celebrates Earth Day and Removes 100% of Single-Use Plastic From Its Operations

• Achievement forms part of the brand’s commitment to eradicating single-use plastic from its MEA operations • The mobile telecommunications leader also announced a review of its carbon footprint in Saudi Arabia by end of 2021Sustainability goals reflect the brand’s global commitment to be a responsible corporate ......Read More

Thursday, April 22, 2021

Saudi Payments Launches Instant Payments System ‘sarie' in Cooperation with IBM and Mastercard

The system aims to increase non-cash transactions in the Kingdom, supporting “Saudi Vision 2030” RIYADH, Saudi Arabia, April 21, 2021 – Saudi Payments, under the supervision of the Saudi Central Bank (SAMA) announced the launch of Saudi Arabia’s instant payments system ‘sarie’ in cooperation with IBM (NYSE: IBM) and Mastercard (NYSE: MA), the leading technology company in the global payments industry. This collaboration marks a key milestone for payments innovation in the region and is aligned with Saudi Payments’ aim to improve the Kingdom’s financial ecosystem, mainly through the adoption of faster payments and improvements to banking ......Read More

Wednesday, April 21, 2021

Deloitte Middle East's KSA Hospitality Market Report: An Overview of 2020

21 April, 2021 — Deloitte Middle East Financial Advisory launched the Kingdom of Saudi Arabia (KSA) Hospitality Market report which provides an overview of the hospitality market in 2020 and compares the performance on regional and global levels. The COVID-19 crisis impacted the hospitality sector in an unprecedent manner resulting in falling performance metrics across all key cities in Saudi Arabia. Its recovery is dependent on the roll out of vaccines to restore traveler and guest confidence and will likely accelerate with the completion of some of the major announced leisure and entertainment projects. Robin Williamson, Head of Real Estate, ......Read More

Wednesday, April 21, 2021
Lilly Saudi Names New Additions to Board of Directors

Saudi Arabia, April 15, 2021 – Eli Lilly Saudi Arabia, a leading pharmaceutical company, has announced the appointment of Dr. Mustafa Al Jawadi and Dr. Ahmed J. Al Buraidi to its Board of Directors in Saudi Arabia as of March 2021. Dr. Ahmed J. Al Buraidi is a seasoned professional executive with over 24 years of experience in the pharmaceutical industry managing all aspects of corporate and government affairs in Saudi Arabia. Holding a Bachelor of Pharmacy from King Saudi University, Al Buraidi joined Lilly in 1997 as Regulatory Associate, before being promoted through the ranks to Director – Scientific Office and Governmental Affairs. Joining Lilly in ......Read More

Saturday, April 17, 2021

Saudi Aramco's Profit Halved in Two Years, Market Cap $210B Below Apple's

April 14, 2021: Even before the pandemic, the oil and gas industry was faced with slumping prices. However, with a record collapse in oil demand amid the lockdowns, the COVID-19 crisis has further shaken the market, causing massive revenue and market cap drops for even the largest oil companies. According to data presented by Finaria.it, the net income of the world's biggest oil producer and one of the largest publicly listed companies, Saudi Aramco, dropped to $49bn in 2020, a 55% plunge in two years. The COVID-19 Crisis and Oil Price War Cut Profits by Almost $40B in a Year In preparation for its IPO, which took place in December 2019, Saudi Aramco had published ......Read More

Wednesday, April 14, 2021

Saudi Arabia Viewpoint: Taxing Dividends, Boosting Investments

Key takeaways • Incentives are key to support the US$2.7trn 10-year domestic investment program, but a funding gap constrains implementation. • Past precedents suggest the Shareek program could be a highly beneficial scheme to banks if the terms are right. • Saudi Aramco could maintain dividends for minority shareholders while limiting government dividends to support investments. Macro - investment program puts focus on diversification We estimate the overall investment program announced by the authorities aims to increase domestic ......Read More

Thursday, April 8, 2021

The Journey Through Time Masterplan Marks a Major Step in Protecting and Sharing the AlUla Cultural ...

Saudi - April 08, 2021: Five unique districts, connected by a 20km-long public realm called the Wadi of Hospitality, will protect 200,000 years of natural and human history across the 20km-long core historical area of AlUla, a unique cultural landscape located in north-west Arabia, encompassing a wadi (seasonal river valley) and culminating in the Nabataean city of Hegra, a UNESCO World Heritage Site. The first masterplan in a series for AlUla is conceived as a Living Museum and includes 15 new cultural assets, a 9km rejuvenated Cultural Oasis, 10 million square meters of green and open spaces, and a 46km low-carbon tramway, while contributing to AlUla’s ......Read More

Thursday, April 8, 2021
BinDawood Holding's FY2020 proves resilient as it reports 6.8% rise in net profit to SAR 447.7M

Jeddah, Saudi Arabia - 29 March 2021: BinDawood Holding Co. (Tadawul: 4161 and the “Company”), one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom of Saudi Arabia (‘KSA’), today reported its fourth quarter and full year 2020 financial results. Financial ......Read More

Monday, March 29, 2021

SolarWinds Head Geeks to Discuss Next Normal Network Improvements Needed at Cisco Live! 2021

Company to showcase IT monitoring tools NetPath, PerfStack, and Orion Maps March 24, 2021: SolarWinds (NYSE:SWI), a leading provider of powerful and affordable IT management software, today announced its participation at the Cisco Live!® global digital event, March 30 – April 1, 2021. The company will showcase ......Read More

Wednesday, March 24, 2021

Abdullah Al-Othman Founder and Chairman, geidea

Saudi - March 22, 2021: Abdullah Al-Othman is the founder and chairman of geidea, a leading and fully licensed payment service provider offering digital payments solutions. In his role, Abdullah is highly committed to achieving geidea’s vision of providing accessible, affordable and customer-centric payment solutions for ......Read More

Monday, March 22, 2021

News Direct and Media OutReach Form Distribution Partnership for Asia Pacific and America*

Two Industry Disruptors Share Their Strong Distribution to Benefit Global Clients March 22, 2021: News Direct and Media OutReach - two newswires that are revolutionizing the news distribution industry with advances in technology, analytics, security and workflow - have entered into a reciprocal press release distribution arrangement covering the United States and Asia Pacific region. Media OutReach clients will benefit from News Direct's full-fledged access to The Associated Press distribution network in the US, which includes the nation's leading newspapers, magazines, radio and television stations, and online sites. Additionally, releases are posted to ......Read More

Monday, March 22, 2021
Shaker Reports SAR 10.1 Million Net Profit in first Profitable Year Since 2016; Annual Revenue Growt ...

• Breakthrough Program, completed in 2020, had significant impact on top- and bottom-line results • 12M net profit of SAR 10.1 million compared to net loss of SAR 50.9 million in 2019 • 12M revenue of SAR 932.7 million improved by 5.6% from 2019 • Earnings per share improved to SAR 0.15 • Agile ......Read More

Monday, March 22, 2021

KSA Leads by Example in CSR Adoption and Integration

Cicero & Bernay Public Relations and YouGov publish the first regional CSR survey report, ranking KSA second in adoption and integration of CSR in businesses March 22, 2021: The Kingdom of Saudi Arabia (KSA) has emerged as one of the foremost countries in adoption and integration of corporate social responsibility (CSR) ......Read More

Monday, March 22, 2021

Bybit Adds ADA, DOT and UNI to Its USDT Margined Offerings

SINGAPORE - Media OutReach - 18 March 2021 - Cryptocurrency derivatives exchange Bybit has announced today the arrival of three new USDT trading pairs with Cardano's ADA, Polkadot's DOT and Uniswap's UNI. The introduction of these new trading pairs is the second expansion of Bybit's markets in as many weeks, following the arrival of BTCUSD0625 futures contract on March 11. ADA/USDT, DOT/USDT and UNI/USDT join the existing linear perpetual trading pairs of BTC/USDT, ETH/USDT, LINK/USDT, LTC/USDT, XTZ/USDT and BCH/USDT, as well as Bybit's inverse perpetual and futures markets. Traders will be able to select between 1-25x leverage on these new contracts. ......Read More

Thursday, March 18, 2021

News Direct and Media OutReach Form Distribution Partnership for Asia Pacific and America

Two Industry Disruptors Share Their Strong Distribution to Benefit Global Clients 18 March 2021: News Direct and Media OutReach - two newswires that are revolutionizing the news distribution industry with advances in technology, analytics, security and workflow - have entered into a reciprocal press release distribution arrangement covering the United States and Asia Pacific region. Media OutReach clients will benefit from News Direct's full-fledged access to The Associated Press distribution network in the US, which includes the nation's leading newspapers, magazines, radio and television stations, and online sites. Additionally, releases are posted to AP's ......Read More

Thursday, March 18, 2021
Shaza Makkah Announces the Appointment of Bassam Khanfar as General Manager

Saudi - March 10, 2021: Shaza Makkah, the 5-Star hotel among the first in line hotels in Jabal AlKa’bah to Al Masjid Al Haram, announced the appointment of Bassam Khanfar as the new General Manager. Bringing a wealth of skills and multi-dimensional expertise with decades of experience, Bassam Khanfar joined Shaza Makkah holds a degree in Banking and Finance, as well as a Masters Certificate in Hospitality Management from Cornell University. Khanfar has extensive experience within the GCC region having worked with several leading brands most recently Rotana Hotels. He also enjoys extensive relevant experience where he worked in the hospitality sector of the Holy ......Read More

Wednesday, March 10, 2021

Henkel Delivers Overall Robust Performance in Fiscal 2020 Despite Substantial Impact From Covid-19 P ...

 Balanced portfolio, strong innovations, financial strength, and dedicated team as key enablers for robust business performance in a global crisis  2020 results at upper end of full-year guidance: - Group sales reach 19.3 billion euros, organic: -0.7 percent - EBIT margin* at 13.4 percent, -260 basis points, corresponding ......Read More

Sunday, March 7, 2021

KPMG Survey: Saudi Female Business Leaders Poised for Growth

News Highlights: • International Women’s Day • Survey covered 675 female leaders from 52 countries • 47% of Saudi female leaders do not expect Covid-19 to slow down progress on diversity and inclusion • 92% of global and 80% of Saudi female leaders say we are still a long way from gender diverse boards and management teams March 07, 2021: KPMG’s Female Leaders Outlook 2020 is being published in Saudi Arabia for the first time. The survey, conducted in 2020, covers 675 female leaders from 52 countries, including 25 from Saudi Arabia. The initial results of the survey were released in October ......Read More

Sunday, March 7, 2021

Fahad Alanazi named General Manager, IBM Saudi Arabia

RIYADH, Saudi Arabia/March 3, 2021/ --IBM (NYSE: IBM) announced today that Fahad Alanazi has joined IBM as General Manager of IBM Saudi Arabia. “I am privileged to join IBM and lead its business in Saudi Arabia,” says Alanazi. “Technology is a core component of the Kingdom's Vision 2030. By leveraging IBM's ......Read More

Wednesday, March 3, 2021
Cisco Small Business Partner Summit to Explore Growth Opportunities Across MEA

Changing Market Conditions and Strategic Priorities for the Sector to be Showcased During Regional Event Riyadh, KSA, 2 March 2021 – Cisco’s Small Business Partner Summit is taking place virtually this week, outlining the importance and growth potential of the small business sector across the Middle East and Africa. Small ......Read More

Tuesday, March 2, 2021

AMAALA Signs MoU With the Saudi Federation for Cyber Security, Programming and Drones

AMAALA and Saudi Federation for Cyber Security, Programming and Drones to work on joint initiatives related to drones, programming, and artificial intelligence Chief Executive Officer at AMAALA, John Pagano Chief Executive Officer of The Saudi ......Read More

Monday, March 1, 2021

#TogetherForOurPlanet: British Embassy Riyadh Launches Social Media Campaign to Encourage Action Aga ...

Following Saudi Arabia’s G20 Presidency last year, and ahead of COP26, the UN’s Climate Change Conference in Glasgow in November, the British Embassy in Riyadh is asking all of society to make a change #TogetherForOurPlanet Saudi Arabia, Riyadh - 27 February 2021: As we recover from COVID-19, it is critical that we ......Read More

Saturday, February 27, 2021

Cisco Reveals Top Cybersecurity Threats of 2020*

Defending Against Critical Threats Report identifies migration to remote working and evolution of ransomware as key contributors towards diverse criminal activity Riyadh, KSA, 17 February 2021 – Cisco has revealed the findings of its Defending Against Critical Threats Report, noting changes in criminal activity during 2020 and new methods ......Read More

Thursday, February 18, 2021
Saudi Arabia Set to Become the Next Cloud Computing Hub as Major Leaders Share Their Vision at World ...

Endorsed by Saudi Cloud Computing Association, World Cloud Show is gearing up to virtually connect the most influential voices in the Saudi's cloud space this March. Notable speakers include the likes of Fahad A Alhamed, Dr Fatmah Ba Othman, Badar Khan & more. Saudi Arabia, Feb 14, 2021: Having hosted multiple ......Read More

Sunday, February 14, 2021

Saudi Arabia's Public Investment Fund Anchors NBK Capital Partners' Private Lending Fund

Targeted US$ 300 Million Shari’ah Credit Opportunities Fund to Invest in Saudi Arabia, UAE and Select MENA Countries Riyadh, KSA – 10 February 2021: NBK Capital Partners has announced the successful first closing of a targeted US$ 300 million Shari’ah credit fund anchored by Saudi Arabia’s Public Investment Fund and other institutional investors. NBK Capital Partners employs a pioneering strategy for flexible, long-term direct lending launched in the wake of the global financial crisis to meet the financing needs of mid-sized firms unable to secure attractive financing terms. The new fund will provide flexible ......Read More

Wednesday, February 10, 2021

Government's Focus on Balancing growth and stability to buoy KSA property market, says JLL

JLL releases KSA 2020 Year in Review Report Riyadh, KSA, 27 January 2021 – While much of 2020 was prioritizing the response to COVID-19, Saudi Arabia remained focused on growth and stability, long-term economic sustainability, diversification and an enhanced quality of life for its people, according to JLL’s KSA 2020 Year in ......Read More

Wednesday, January 27, 2021

Arab Megastar Hussain Al Jassmi and Pepsi® Pay Tribute to Saudi Arabia in New Ode to Kingdom

Saudi - January 24, 2021: As a long supporter of creative talent and artistic expression, Pepsi® is proud to collaborate with the Arab world’s renowned singer, Hussain Al Jassmi. The partnership will see the launch of a new song called ‘Hay Hal Sot’ composed by the talented singer himself and written by Saudi Arabia’s leading poet and literary icon, Prince Badr Bin Abdul Mohsin. Music has always been a powerful cultural indicator, the song called ‘Hay Hal Sot’ is an ode to the Kingdom – its beauty, bountiful nature, traditions and the unconditional love of its people. “Hay Hal Sot” is a celebration of ......Read More

Sunday, January 24, 2021
Latest PGA Tour Winner Kevin Na Joins Strong American Contingent vying for 2021 Saudi International ...

Strong list of partners gather in support of third edition; SoftBank Investment Advisers, Ministry of Sport, Public Investment Fund, Aramco, King Abdullah Economic City (KAEC), SAMBA, Saudia, Invest Saudi, Sky Prime, GIB, STC, Rolex, Saudi Cargo, Saddik & Mohamed Attar, UMA Premium, Mix FM, Nova, Adidas, Al Laith, Luxury Carts, Reza Hygiene and Royal Greens Golf & Country Club. 19 January 2021:  Five-time PGA Tour winner Kevin Na, who won the PGA Tour’s Sony Open in Hawaii on Sunday, is the latest American star to enter the 2021 Saudi International powered by Softbank Investment Advisers, Royal Greens Golf & Country Club, 4 ......Read More

Tuesday, January 19, 2021

Golf Saudi CEO Hails Neom & the Line as a Future Global Golf Destination

Majed Al Sorour, CEO of Golf Saudi also confirmed preparations for February’s Saudi International powered by SoftBank Investment Advisers are now complete Saudi - January 18, 2021:   Ahead of the third edition of the Saudi International powered by SoftBank Investment Advisers, Golf Saudi CEO Majed Al Sorour has hailed the ......Read More

Monday, January 18, 2021

IHG® Signs Agreement for Holiday Inn Jeddah Corniche

Signing continues accelerated growth of the Holiday Inn brand across Saudi Arabia Al Riyadh, Saudi Arabia, January, 17, 2021: IHG® Hotels & Resorts, one of the world’s leading hotel companies, has signed a Management Agreement with Saleh Alsalamah and Partner Companies, to open Holiday Inn Jeddah Corniche. Having ......Read More

Sunday, January 17, 2021

Ogilvy Names James Kinney as Global Chief Diversity, Equity & Inclusion Officer and Chief People Off ...

January 17, 2021:   Ogilvy announced today that James Nicholas Kinney has been appointed Global Chief Diversity, Equity & Inclusion Officer and Chief People Officer for North America. In North America, James will oversee all aspects of talent management, recruitment, learning & development, and wellbeing working with Jag ......Read More

Sunday, January 17, 2021
World Gold Council ETF 2020 Report and Gold Outlook 2021

The World Gold Council has released its Gold Outlook 2021 as well as its ETF Flows report for December (and the full year 2020). The 2021 Outlook envisages another well supported year for gold investment (after finishing 2020 up 24%), while consumption should benefit from the nascent economic recovery, especially in emerging markets. The report includes analysis based on the WGC's gold valuation tool Qaurum which suggests gold's performance may be boosted further by the prolonged low interest rate environment which all but removes the opportunity cost of investing in gold. Pulling from his work on World Gold Council’s newly released ......Read More

Thursday, January 14, 2021

Samsung Introduces Latest Innovations for a Better Normal at CES 2021

Samsung enhances the home experience with products like Samsung Bespoke 4-Door Flex, 110-inch MICRO LED, and JetBot 90 AI+. Continuing sustainability efforts, Samsung announces Galaxy Upcycling at Home and expansion of eco-packaging for TV products in 2021 January 12, 2021: Samsung Electronics Co., Ltd. ......Read More

Tuesday, January 12, 2021

Cisco Reveals the Top 6 Tech Trends for 2021 and Beyond

From a greater adoption of sensors to a password-less future and closing the digital divide, 2021 will accelerate technologies that allow for more agility, resilience, and innovation 06 January 2021: Cisco has revealed the top tech trends for 2021 and beyond with technologies that enable businesses to be more agile, resilient, and ......Read More

Wednesday, January 6, 2021

Cisco's Duo Security Report Shows Shift to Remote Work is Accelerating Digitisation

• Analysis of millions of corporate users, devices and applications details security consequences of massive change in how we work • Influx of Bring-Your-Own-Device (BYOD) causes 90% spike in out-of-date devices attempting to access business apps • Cloud adoption to surpass use of on-premises applications by ......Read More

Thursday, December 24, 2020
Viktor Hovland and Tony Finau, join stellar 2021 Saudi International powered by SoftBank Investment ...

Europeans Martin Kaymer, Matt Wallace, Bernd Wiesberger and Danny Willett join burgeoning European contingent at 2021 Saudi International powered by SoftBank Investment Advisers set to be one of the strongest events on the 2021 European Tour schedule Jeddah, Kingdom of Saudi Arabia – 23 December, 2020: Viktor Hovland and Tony Finau are the latest top ranked international stars to confirm their entry into the third edition of the Saudi International powered by Softbank Investment Advisers, Royal Greens Golf & Country Club, 4 – 7 February 2021. Hovland is undoubtedly the rising star of world golf and at 23 years old, he sits at a career high ranking of World ......Read More

Wednesday, December 23, 2020

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