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Saturday October 31, 2020
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14 , Rabi' al-awwal , 1442
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October 28, 2020
CBB launches the Bahrain Open Banking Framework
MANAMA — The Central Bank of Bahrain (CBB) launched the Bahrain Open Banking Framework (Bahrain OBF) to ensure holistic implementation of Open Banking services by the industry.This framework includes detailed operational guidelines, security standards and guidelines, customer experience guidelines, technical open Application Programming Interface (API) specifications and the overall governance framework needed to protect customer data. These standards follow the comprehensive rules on Open Banking which were previously issued in ...
October 28, 2020
Business Forum in Dubai held in wake of historical UAE-Israel peace deal
DUBAI — The Abrahamic Business Circle (The Circle) in UAE organized a business forum in cooperation with the Economic Peace Center in Israel. The successful first public event of The Circle was well attended by high-level individuals working in different sectors of the industries based in the UAE, Israel and different parts of the world.The event was held in the Capital Club on Tuesday, with the theme: Game-Changer “What the ...
October 28, 2020
Robotics: A historic leap and an every-day solution
By Anas Abdul-Haiy,In a train of thought trailing back to 2002, one cannot help but come across iRobot’s Roomba, a vacuum cleaning robot and one of our first encounters with machines performing human tasks. Since then, robotics has come a long way, with its growth trajectory moving at a speed we never imagined possible. Looking back, we have visited the idea of a robot takeover in science fiction myth, with ...
October 28, 2020
Biden win predicted but contested US election result will be biggest risk to markets
DUBAI — The most likely result from the US election is a contested result where neither side will accept a loss, and a period of uncertainty and financial market volatility will follow, according to Saxo Bank’s Chief Investment Officer, Steen Jakobsen.Speaking during an online briefing session hosted by Saxo Bank, and featuring both Jakobsen and Head of FX Strategy John Hardy, Jakobsen emphasized that he doesn’t believe that the election ...
October 28, 2020
Larsen & Toubro makes its presence felt in the Middle East
DUBAI — Larsen & Toubro (L&T) is showcasing its digital solutions and distinctive range of Engineering, Procurement and Construction services at the Water, Energy Technology and Environment Exhibition (WETEX) and the Dubai Solar Show 2020. The show is the first carbon neutral 3D virtual exhibition in the Middle East and North Africa.“As one of the major players in the EPC space, L&T is proud to be associated with WETEX Dubai ...
October 28, 2020
ACWA Power’s Bokpoort CSP plant breaks African record
DUBAI — ACWA Power, a leading developer, investor and operator of power generation and desalinated water plants worldwide, announced Wednesday that its South African Bokpoort CSP plant has become the first renewable facility in the continent to complete a full week of continuous round the clock operation.Bokpoort CSP set the new African continental benchmark achieving 13 days (312 hours) of continuous operations on Oct. 23, 2020, which translates to approximately ...
October 28, 2020
Almarai the world’s 1st brand to receive Pandemic Prepared Certification
RIYADH — Almarai became the first brand in the world to obtain a Pandemic Prepared Certification from AIB International; due to its excellence in applying best practices for food safety in times of epidemics.The certification confirms Almarai’s readiness and ability to adhere to industry-recognized best practices for supporting food safety and quality, employee health, the supply chain as well as consumers.The AIB International is a leading organization providing inspection, consulting, ...
October 27, 2020
Saudi Arabia pension system shows positive signs in 2020 Global Pension Index
RIYADH — Mercer released the results of its 2020 Mercer CFA Institute Global Pension Index survey (MCGPI) that benchmarks retirement income systems around the World. According to the survey, Saudi Arabia had an overall index value of 57.5 among the countries analyzed, scoring slightly higher than the previous year.The slight increase in value from 57.1 to 57.5 is mainly attributed to a recent amendment in the retirement age for women, ...
October 27, 2020
Ithra Dubai completes ‘The Link’ at One Za’abeel
DUBAI — Ithra Dubai, a leading real estate developer fully owned by the Investment Corporation of Dubai, announced Tuesday the final lift of The Link and its successful completion. The Link qualifies One Za’abeel to attempt to break the Guinness World Records title for the “Longest Cantilevered Building” in the world. Distinguished members of the press experienced firsthand the grandeur of The Link during a media tour organized by the ...
October 27, 2020
WMO, IATA agree to improve aircraft meteorological reporting
GENEVA — The International Air Transport Association (IATA) and World Meteorological Organization have signed an agreement to increase and improve the automated reporting of meteorological data by commercial aircraft.The new initiative, called the WMO and IATA Collaborative AMDAR Program (WICAP), aims to expand the existing WMO Aircraft Meteorological Data Relay (AMDAR) system to ensure coverage over data-sparse areas.It is expected to bring many additional and new partner airlines into the ...
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