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6141 - 6150 from 16533 . In "BUSINESS"
Saudi domestic service sector seen more attractive than export or manufacturing
RIYADH — The Saudi Arabian market has witnessed successful inclusion in the MSCI Emerging market index with a weightage of 2.83%, Al-Rajhi Capital Research said in its latest report on Saudi Arabian Equities released Monday.A total of 31 companies were included with the second tranche of inclusion ending August, it added.The foreign ownership has increased to 5.38% at the end of August 2019 from 1.78% at the end of June 2018 when the decision to include into EM Index was announced. This equates to an increase of around SR70 billion during the above period. The index rose as expected – to 9,400 levels from around 8,150. The main sellers were GRE (Government/Related Entities), whose ownership has declined to 34.7% at the end of August 2019 from 39.3% in June 2018%. Post the inclusion,...
September 02, 2019

Saudi domestic service sector seen more attractive than export or manufacturing

Chris Clawson (left), President of Life Fitness, and Fahad Al-Haqbani (middle), CEO of Armah Sports, pose with other company executives at the signing of agreement
Armah, Life Fitness form partnership to equip smart clubs
JEDDAH — Armah Sports Company (based in Saudi Arabia) has signed an agreement with Life Fitness (the world's largest fitness equipment manufacturer) to supply cardio and strength equipment to its smart clubs over the next 5 years.The agreement was signed at the headquarters of the American company in Chicago, in the presence of Fahad Al-Haqbani, CEO of Armah Sports, Chris Clawson, President of Life Fitness, and the executive management of both parties.The agreement is worth $20 million (SR75 million).This comes as part of Armah’s strategy to partner with the world’s most prominent companies as they execute their plan to establish 50 smart fitness clubs in the Kingdom within the next 5 years.Their clubs will suit all segments of the community for men and women.Al-Haqbani explained...
September 02, 2019

Armah, Life Fitness form partnership to equip smart clubs

Lens Position: 2268
OMEGA new ‘Ultra Light’ launched
DUBAI — AS the OMEGA Masters swings into action this week, the iconic title sponsor has made an early start on the course, with the release of its brand new Seamaster Aqua Terra “Ultra Light”.The sporty OMEGA watch features an incredibly lightweight and innovative design, and made a special début during Wednesday’s Pro-Am tournament when it was worn by OMEGA’s own top golfers, Rory McIlroy, Sergio Garcia and Tommy Fleetwood. The three professional players each sported the “Ultra Light” in their own chosen colour – red, green or blue.For Rory McIlroy, it was a great opportunity to see the final “Ultra Light” design, after his close collaboration with the product development team during its creation.He said, “I’m proud to have played a role in the development of...
September 01, 2019

OMEGA new ‘Ultra Light’ launched

Ole Hansen
Gold strength spreads to silver and platinum
By Ole S. HansenHead of Commodity Strategy at Saxo BankDUBAI — The Bloomberg Commodity Index, which tracks a basket of major commodities, evenly spread between energy, metals and agriculture, traded lower for a second month in a row during August. This is in response to continued concerns about the outlook for global growth and with that demand for key commodities. Trade hostilities between the US and China continued to ebb and flow which created a challenging environment. Not only for commodities but also bonds and stocks as the market tried to keep up with announcements from both Washington and Beijing.Crude oil traded lower despite Opec keeping production tight with future demand worries more than off-setting strong seasonal demand. Industrial metals were mixed with strong gains in...
September 01, 2019

Gold strength spreads to silver and platinum

Snacks and ready-to-eat industry to hit $34.5bn by 2023
DUBAI – Amid rapid transformation and growth across the region’s confectionery and snacks sector, the 2019 edition of yummex Middle East - the MENA region’s leading sweets and snacks event - will boast significantly expanded feature content during its 29-31 October run at Dubai World Trade Centre (DWTC).Designed to probe the latest trends, developments, regulatory updates and innovations driving the sector, yummex Middle East will boast an all-new three-day knowledge series called ‘Munch’, while a tailored meetings program and free-to-attend brand licensing workshops will ensure visitors and exhibitors optimize participation and business potential.The yummex Middle East expansion comes as the industry is tracking at a Compound Annual Growth Rate (CAGR) of 3.3 per cent and is...
September 01, 2019

Snacks and ready-to-eat industry to hit $34.5bn by 2023

AUH welcomes over 4.5m passengers during summer
ABU DHABI — Abu Dhabi International Airport (AUH) has welcomed over 4.5 million passengers during the summer months, demonstrating the airport’s popularity with travelers heading to and leaving Abu Dhabi, as the airport seeks to offer a wide range of attractive routes, smooth operational efficiency and high customer satisfaction.During the summer period, the top five destinations that saw the highest share of traffic through Abu Dhabi International Airport were: London, Delhi, Bombay, Cairo and Cochin, which together processed 900,104 passengers between these cities and Abu Dhabi International Airport. During Eid Al Adha period, falling between July 7 and July 17, Abu Dhabi International Airport processed 713,297 passengers arriving, departing and transiting.Commenting on the summer...
September 01, 2019

AUH welcomes over 4.5m passengers during summer

NMC ProVita provides more home dialysis machines
ABU DHABI — In the United Arab Emirates (UAE), there are reports of more than 2,000 patients receiving dialysis, and this number is expected to increase by 100% by 2023. The high incidence of chronic kidney disease (CKD) in the UAE has been attributed to the prevalence of diabetes, obesity and hypertension. NMC ProVita International Medical Center, a subsidiary of the UAE & Middle East largest private healthcare provider - NMC Healthcare, offers home Dialysis service to patients in UAE.To meet the growing demand of home Dialysis Machines, Reaya Mumayaza for hemodiyalsis services managed by NMC ProVita International Medical Center, announced it has entered an agreement to provide more Home Dialysis Machines, which ensures quality healthcare for those who need it the most- at the right...
September 01, 2019

NMC ProVita provides more home dialysis machines

NBB introduces NCR’S Innovative 80 Series ATMs
MANAMA – National Bank of Bahrain (NBB) announced Sunday it is the first financial institution in Bahrain to deploy innovative SelfServ 80 ATMs from NCR Corporation (NYSE: NCR) to support its digital strategy for customer growth.NCR, a global enterprise technology provider for the financial industry, will also provide NCR Direct Connection (NDC) Enterprise software to NBB to help integrate their self-service channel with the rest of its digital infrastructure to deliver a consistent consumer experience across physical and digital channels.“NCR’s digital-first technologies and innovative software platforms allow us to re-define the ATM experience for our customers and seamlessly deliver next-generation banking services across physical and digital channels,” said Iain Blacklaw, Chief...
September 01, 2019

NBB introduces NCR’S Innovative 80 Series ATMs

 Guy Parmelin
Swiss minister pessimistic on swift EU treaty
ZURICH — Switzerland is unlikely to strike a deal with the European Union this year over a stalled partnership treaty, its economy minister said, extending an impasse that has hurt bilateral ties and disrupted cross-border share trading.European Commission President Jean-Claude Juncker has urged Bern to wrap up the accord before his term ends on Oct. 31, when German politician Ursula von der Leyen is set to replace him.The Swiss government has also said it would like to clinch a deal by then if three final points can be clarified.Economy Minister Guy Parmelin, however, told the SonntagsZeitung newspaper that he was pessimistic, given that representatives of Swiss labor, employers and cantons had been unable to find common ground Switzerland could use in the talks."We want a good...
September 01, 2019

Swiss minister pessimistic on swift EU treaty

China, US slap new tariffs in trade war
BEIJING/WASHINGTON — China and the United States began imposing additional tariffs on each other's goods on Sunday, the latest escalation in a bruising trade war, but US President Donald Trump said the sides would still meet for talks later this month.Trump, writing on Twitter, said his goal was to reduce US reliance on China and again urged American companies to find alternate suppliers outside China.A new round of tariffs took effect from 0401 GMT, with Beijing's levy of 5% on US crude marking the first time the fuel has been targeted since the world's two largest economies started their trade war more than a year ago.The Trump administration on Sunday began collecting 15% tariffs on more than $125 billion in Chinese imports, including smart speakers, Bluetooth headphones...
September 01, 2019

China, US slap new tariffs in trade war

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