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Talat Zaki Hafiz
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Mideast HNWIs keep treasure assets ‘for financial motivations’
JEDDAH – Only 19 percent of treasure assets - which include items such as precious jewelry, fine art, antique furniture, classic automobiles and precious metals - are held for financial motivations, Barclays Wealth said in its latest Wealth Insights report ...
India planning $3.6b JV steel plant in Kingdom
NEW DELHI – State-owned Rashtriya Ispat Nigam Ltd (RINL) is looking at Saudi Arabia for setting up a 3 mtpa steel plant as a joint venture with local major Rajhi Steel at an investment of Rs20,000 crore ($3.6 billion).Buoyed by ...
All-new BMW 6 Series Gran Coupé lands in KSA
Amr Badghaish (left), Head of Marketing, Mohamed Yusuf Naghi Motors, and Stavros Paraskevaides, Managing Director, Mohamed Yousuf Naghi Motors (BMW) during the unveiling of the all-new BMW 6 Series Gran Coupé in Jeddah Monday.JEDDAH – The all-new BMW 6 Series ...
GCC bank lending to stabilize further in ’12
KUWAIT – After two consecutive years of disappointing figures, the GCC banking sector sector resumed its trajectory of expanding profits in 2010/2011, Kuwait Financial Center’s (Markaz) latest report on the GCC banking sector said.The catalyst for the growth is declining ...
OPEC may raise output cap: Naimi
VIENNA – Saudi Arabia has called for an increase in the OPEC’s output target despite a recent fall in crude prices.“Our analysis suggests that we will need a higher ceiling than currently exists,” Saudi Oil Minister Ali Al-Naimi said in ...
Saudi Arabia, S. Africa set up $2.4b holding co.
South African Minister of Trade and Industry Rob Davies (right) said a joint Saudi Arabian-South African Special Purpose Vehicle (SPV) would help create jobs in South Africa and new opportunities for South African businesses in Saudi Arabia.CAPE TOWN/JEDDAH – South ...
ALJCI wins Business Sector Social Responsibility Award
Ibrahim M. Badawood (left), ALJCI executive director, receives the award.JEDDAH – ALJ Community Initiatives (ALJCI) won the award of the 1st Business Sector Social Responsibility Forum Toward Young Men and Women in the Kingdom. ALJCI won "Sanabel Al Atta" CSR ...
Italian economy in deep recession
MILAN – Italy’s economy shrank by 0.8 percent in the first quarter, the official data agency Istat said Monday confirming an earlier estimate that showed the country’s recession deepening.Istat also revised down to 1.4 percent the contraction on a 12-month ...
Sabic reinforces presence in Europe
JEDDAH – SABIC has appointed country leaders across Europe to ensure that customers take full advantage of SABIC’s global assets and local expertise. Recently, Daniele Petrini was appointed as the Country Leader in Italy; this appointment is connected to our ...
Guess the next F1 winner
LONDON — Even commercial supremo Bernie Ecclestone, whose ideal Formula One season would be decided at the very last corner, could hardly have dreamed of a championship like this one.With just over a third of the distance gone, and an ...
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