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Friday November 27, 2020
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12 , Rabi' ath-thani , 1442
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November 26, 2020
KAPSARC: Three factors contribute to shaping the gas demand path in Saudi Arabia
RIYADH — According to the International Energy Agency (IEA), the global pandemic of COVID-19 will lead to a fall in capital investment plans in 2020 by major oil and gas companies of 32% relative to 2019. KAPSARC’s new commentary highlights how cooperation can enhance natural gas utilization in the GCC.The commentary, by the authors Rami Shabaneh, Bertrand Rioux and Steve Griffiths, identified three factors that contribute to shaping the path ...
November 26, 2020
Moody's upgrades Saudi Electricity's ratings to A1
LONDON — Moody's Investors Service (Moody's) has on Wednesday upgraded the ratings of Saudi Electricity Company (SEC) to A1 from A2 on account of increased government support.The upgrade to A1 reflects Moody's revised assumption of government support to "Very High" from "High" under the methodology for Government-Related Issuers (GRI). This assumption leads to the alignment of SEC's issuer rating with Saudi Arabia's sovereign rating.The action is underpinned by a proposed ...
November 26, 2020
Millennials driving high net worth parents and grandparents in a shift to sustainable investing
DUBAI — A new research series from Barclays Private Bank on the intergenerational transfer of wealth shows that ESG investing has been brought into wealthy families’ consideration by the younger generations. This has led to increasing family allocations to sustainable assets and is acting as a common ground for the different generations in financial planning, despite competing priorities and different views towards risk.Barclays Private Bank’s Smarter Succession: The Challenges and ...
November 26, 2020
World may not have enough heavy lift vessels to service offshore wind industry post 2025
OSLO — Offshore wind is booming, and as turbine and project sizes grow, demand for specialized installation vessels will soar. The market for vessels capable of installing large offshore wind components is quickly being outpaced by growing demand from the global development pipeline, a Rystad Energy analysis shows.The global fleet will be insufficient to meet demand* after 2025, opening room for more specialized vessel orders and other oil and gas ...
November 26, 2020
IATA DG De Juniac to step down
GENEVA — The International Air Transport Association (IATA) announced that Alexandre de Juniac, Director General and CEO will step down from his role at the Association effective March 31, 2021.De Juniac made known his intention to step down from the association several months ago, which enabled a search process to facilitate a smooth leadership transition.The IATA Board of Governors recommended to the 76th IATA Annual General Meeting (AGM) the appointment ...
November 26, 2020
Improving immunity key reason to participate in Dubai Fitness Challenge
DUBAI — The fourth edition of the Dubai Fitness Challenge (DFC) commenced on Oct. 30 with the introduction of global safety practices and a mix of physical and virtual workouts.YouGov’s latest survey reveals the pandemic has given people many more reasons to participate and a large proportion of UAE residents (45%) took up the challenge this year in order to improve their immunity.In addition to this, nearly one in three ...
November 26, 2020
Riyadh, Bahrain among world’s top FinTech ecosystems to watch: Report
MANAMA — Bahrain and the Saudi Arabian capital Riyadh have been named among the world’s top FinTech ecosystems to watch, according to a major new report.Research organization Startup Genome analyzed dozens of countries across the globe based on factors including funding, exits, talent and focus as well as ecosystem players including policymakers and founders.Bahrain and Riyadh were the only two GCC locations named in the report as FinTech ecosystems to ...
November 26, 2020
Tim Clark: Business travel to bounce back
It has been a gloomy year for the global aviation industry as the coronavirus pandemic brought international travel to a standstill. But in CNN’s new series Think Big, Emirates Airlines President, Tim Clark, told CNN that business travel is set for a major rebound. He was speaking to John Defterios, CNN Business Emerging Markets Editor.JD: When does business travel get back to normal, or is it going to be defined ...
November 25, 2020
Al Hokair consolidates its presence in Morocco, Georgia & Azerbaijan
RIYADH — As part of its growth strategy in its existing markets, Fawaz Al Hokair Company, a leading company in the Saudi retail sector, is set to open its first Kiko Milano stores in Morocco, Georgia & Azerbaijan next year. The new move comes to achieve a greater presence for Al Hokair in the three countries, where the company’s top brands are leading the market.According to Al Hokair’s ten-year expansion ...
November 25, 2020
UAE FinTech Forum to foster cross-border collaboration
ABU DHABI — Abdulhamid M. Saeed Alahmadi, governor of the Central Bank of the UAE (CBUAE) Wednesday inaugurated the Government FinTech Forum which took place as part of the FinTech Abu Dhabi Festival 2020, held under the patronage of Sheikh Hazza Bin Zayed Al Nahyan, deputy chairman of Abu Dhabi Executive Council, and co-hosted by CBUAE and Abu Dhabi Global Market, (ADGM).The Forum, which brings together senior officials, central bankers, ...
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