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From left: Dinky Puri, Director, Warifat Hospitality; Faisal Shaker, Chief Investment Officer, JODC; Jules Brookfield, VP of Technology & Integration, Archipelago International; Yasser Faisal Al-Sharif, Chairman of Warifat Hospitality & CEO of JODC; John Flood, President and CEO, Archipelago International; Gerard Byrne, Managing Director, Archipelago Overseas at the signing ceremony
Archipelago in master franchise agreement with JODC subsidiary
ARCHIPELAGO International, Indonesia’s largest hotel group, announced Wednesday the signing of a long-term master franchise agreement with Jeddah- based Warifat Hospitality Limited, a subsidiary of Jabal Omar Development Company (JODC), one of the largest listed companies on the Saudi Tadawul Stock Exchange.This multi-hotel agreement grants development and branding rights to Warifat Hospitality for three of Archipelago’s hotel brands: Grand Aston, Aston and Harper and will enable the roll out of these brands, not only at JODC’s flagship development in Makkah but throughout the Kingdom of Saudi Arabia.The first hotel being developed under this agreement will be the 560-room Jabal Omar Grand Aston which is due for completion in July 2019. This 5-Star hotel is located in a prime...
September 26, 2018

Archipelago in master franchise agreement with JODC subsidiary




Badr Al Shammari, CEO of Al Yusr Leasing and Financing Company, and Issa bin Saleh Al Huraimis, Deputy General Manager and Corporate Group Manager of Al Rajhi Bank sign the agreement
Al Yusr signs accounts receivables sale deal
Al Yusr Leasing and Financing has signed an agreement with Al Rajhi Bank to sell a $100 million (SR375 million) asset portfolio of accounts receivables, within the framework of Al Yusr goals to expand its relations with the banking sector pioneers in the field of asset portfolio transactions authorized by the Shariah board.The agreement was signed by Badr Al Shammari, Chief Executive Officer of Al Yusr Leasing and Financing Company, and Issa bin Saleh Al Huraimis, Deputy General Manager and Corporate Group Manager, of Al Rajhi Bank, in the presence of a number of executives from both sides.Al-Shammari stressed the depth of the relationship between Al Yusr Leasing and Financing and Al-Rajhi Bank, which is based on cooperation and integration in the objectives and common interests which...
September 26, 2018

Al Yusr signs accounts receivables sale deal

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Mandarin Oriental’s new resort project
MANDARIN Oriental Hotel Group has announced that it will manage a new luxury resort on Phuket Island in Thailand which is scheduled to open in 2022.Mandarin Oriental, Phuket will be located on one of the rare undeveloped beachfront sites still to be found on ‘Millionaire’s Mile on the west coast of Phuket island. It will occupy 9.5 hectares of land in the secluded and picturesque Laem Singh Bay. The hotel’s 105 rooms, including 37 bespoke pool villas, will offer guests exceptional accommodation, with significant outdoor spaces, all of which will provide panoramic views of the Andaman Sea and the sunset. The site itself encloses a white sand beach with rocky outcrops, providing excellent access for snorkelling and swimming. Facilities include three restaurants and bars with...
September 26, 2018

Mandarin Oriental’s new resort project




Saad Zafer AlGarny and Sami Yahya Tomaihi flanked by two other officials
Bahri showcases maritime capabilities during Saudi National Day celebration
BAHRI, a global leader in logistics and transportation, celebrated Saudi Arabia’s 88th National Day with its participation at an event hosted by the Consulate of the Kingdom of Saudi Arabia in Mumbai at Trident Hotel last Sept. 24. The company showcased its comprehensive range of maritime capabilities and innovation-driven solutions at its stand at the event attended by Consul General of Saudi Arabia Saad Zafer AlGarny, Vice Consul General of Saudi Arabia Sami Yahya Tomaihi, and other high-ranking officials and VIPs representing the consulate and the government of India.As part of its celebration of the anniversary of the Kingdom’s unification, Bahri also organized internal events at its offices in Saudi Arabia and the UAE on Sept. 24 & 25.Abdullah Aldubaikhi, Bahri CEO, said: “We...
September 26, 2018

Bahri showcases maritime capabilities during Saudi National Day celebration

LuLu holds ‘Our Nation Our Pride’ event to mark 88th Saudi National Day
AS part of the 88th National Day celebrations, a wide variety of social and cultural programs were arranged at all the LuLu Hypermarkets outlets across the Kingdom. LuLu also offered several special offers for their customers to enjoy the festive atmosphere at its fullest.The grand inauguration of the National Day celebrations was held last Sept. 23 at 9:00 pm at LuLu’s newly opened outlet in Atyaf Mall, Yarmouk, by cutting a massive 88 meter long cake representing the glorious 88 years in the history of the kingdom, in the presence of Faisal H. Al Jarba – Vice Chairman of Nameyah International.LuLu extended their National Day wishes to all the citizens of Saudi Arabia and also conveyed their heartfelt gratitude and thankfulness to the rulers and people of the kingdom for their immense...
September 26, 2018

LuLu holds ‘Our Nation Our Pride’ event to mark 88th Saudi National Day

Saudi Aramco president & CEO Amin H. Nasser (fifth from left) joins OGCI member companies’ CEOs for a group photo at annual OGCI meeting in New York City on September 24, 2018.
Aramco confirms leadership, boosts commitment to cut greenhouse gas emission
NEW YORK – Saudi Aramco, the world›s leading integrated energy and chemicals company, and a founding member of the Oil and Gas Climate Initiative (OGCI), joined several major oil and gas companies and key energy and climate leaders for the fourth annual meeting of OGCI last Sept. 24 in New York City.At the meeting, CEOs of OGCI’s 10 existing member companies and the three newly-joined members, discussed the industry’s approaches to decrease greenhouse gas emissions with key stakeholders. The OGCI also unveiled plans to reduce the collective, average methane intensity of members’ core upstream oil and gas operations to below 0.25 percent by 2025, with the ambition of reaching 0.2 percent corresponding to a reduction by one third.Amin H. Nasser, Saudi Aramco president and CEO,...
September 25, 2018

Aramco confirms leadership, boosts commitment to cut greenhouse gas emission

Bahrain FDI inflows soar by 138% in nine months
MANAMA —Bahrain Economic Development Board (EDB) has attracted a record number of investment as businesses from around the world continues to look to Bahrain to access the opportunities in the $1.5tn Gulf economy. In the first nine months of 2018, FDI inflows increased by 138% when compared to the same period of last year. This year, Bahrain EDB has already attracted a total of 76 companies, accounting for an investment of $810m, breaking the 2017 record of 71 companies, and a total investment of $733m.The FDI attracted in the first nine months of 2018 was more than five times of the total attracted in 2015. This strong growth has come in spite of a challenging global environment for FDI, with global FDI flows falling 23% in 2017. Investments in 2018 are expected to generate more than...
September 25, 2018

Bahrain FDI inflows soar by 138% in nine months




Eng. Hani Salem Sonbol
ITFC set to mark 10 years of funding in sub-Saharan Africa
JEDDAH — The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), will commemorate its 10th anniversary during the 5th edition of the Rebranding Africa Forum (RAF), themed “Green economy in Africa: Challenges and Opportunities”, in Burkina Faso on Oct. 5-6, 2018. This annual RAF event, which seeks to identify tools to accelerate the emergence of the Africa, is being held for the first time on the continent, following four previous editions in Belgium. In recognition of its ongoing investments in the continent to support the development of a fair and sustainable trade sector amongst its member countries, ITFC has been invited to launch the prestigious event with a keynote address by its CEO, Eng. Hani Salem Sonbol. During the...
September 25, 2018

ITFC set to mark 10 years of funding in sub-Saharan Africa

kuwait utilities
Kuwait residents to save time, money under new platform
KUWAIT CITY — Millions of Kuwait’s residents and organizations will be able to benefit from a digital experience when it comes to electricity and water services, thanks to an innovative smart meters partnership announced on Tuesday by the Ministry of Electricity and Water.As part of the partnership with leading global technology companies, the Ministry of Electricity and Water have started deploying the smart meters that will reach, by the end of the project, a total of 800,000 electrical meters and 300,000 water meters to homes and organizations across the country, helping to meet the New Kuwait Vision 2035 goals of effective governance.Smart meter sensors will transmit water and electricity data on Zain’s networks to the Ministry’s digital core. As a result, the Ministry,...
September 25, 2018

Kuwait residents to save time, money under new platform

ZamZam Pullman Makkah marks Saudi National Day in high spirits
JEDDAH — ZamZam Pullman Makkah , one of the most Iconic five star hotels in Makkah Al Mukaramah, celebrates 88th Saudi National day. A special rooms promotion was applauded by the amazing people of Saudi Arabia, as the published room rates for the day were SAR 88 per person only. Vibrant celebration was done in the hotel lobby featuring leaders from various important governmental entities & cosmopolitan guests.Leaders from various important Governmental Entities & Cosmopolitan Guests were welcomed by ZamZam Pullman Heartists with traditional welcome ritual. Cake cutting ceremony followed by special activities for the kids were enjoyed by the attendees.Celebration continued with wide spread lunch featuring the fantastic culinary delights from all over Saudi Arabia. Guests commented that...
September 25, 2018

ZamZam Pullman Makkah marks Saudi National Day in high spirits

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