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Air Arabia A320
Air Arabia launches Sharjah - Tunis direct flights
JEDDAH — Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC), announced Monday the launch of a direct flight from Sharjah to Tunis, Tunisia’s capital city starting July 4, 2019. The new flight will operate three times a week — on Tuesdays, Thursdays and Saturdays. The flights depart Sharjah International Airport at 15:30 hours local time arriving at Carthage International Airport in Tunis at 19:05 hours local time. The return flights depart Carthage International Airport in Tunis at 20:05 hours arriving in Sharjah at 05:05 hours local time. Adel Al Ali, Group Chief Executive Officer, Air Arabia, said: “We are pleased to add Tunis to our growing destination network from Sharjah offering a new and affordable travel option to visit the country....
May 07, 2019

Air Arabia launches Sharjah - Tunis direct flights

Ahmed Ashadawi, President and CEO, Al Falak and Al-Khaleej Group, delivers his remarks at the annual staff recognition event
Al Falak honors employees, plans regional expansion
JEDDAH — Al Falak Electronic Equipment & Supplies Co., a leading IT and communications solutions provider in the Kingdom of Saudi Arabia (KSA), honored several senior employees who have served the longest in the company at the annual staff recognition event of Al Falak and Al-Khaleej Group. Ahmed Ashadawi, President and CEO, Al Falak, the Chairman of the Board of Directors of the Group, the directors of departments and divisions and many employees attended the awarding ceremony. The event was held in support of the distinguished efforts of employees who have served and dedicated 40 years helping the company achieve its objectives and move its work toward higher levels of excellence, progress and success. Ashadawi lauded all the employees for their role and sincere efforts which have...
May 07, 2019

Al Falak honors employees, plans regional expansion

EC cuts eurozone growth forecast
BRUSSELS — The European Commission cut its eurozone growth forecast for 2019 on Tuesday, with overspending by populist-run Italy again a concern. In its quarterly forecast, the EU executive blamed the downward trend on the slowdown in China and US protectionism that has crimped global confidence. The commission said growth in the 19-nation single currency bloc would hit just 1.2 percent this year, down from the already weak 1.3 percent predicted in February. "The European economy is showing resilience... yet risks to the outlook remain pronounced," said EU vice president Valdis Dombrovskis, warning of "further escalation of trade conflicts and weakness in emerging markets, in particular China." Europe should also "stay alert to a possible no-deal...
May 07, 2019

EC cuts eurozone growth forecast

The Met launches official account on TikTok
RIYADH — The Metropolitan Museum of Art in New York has collaborated with TikTok, the world’s leading short video platform, to launch an official account. To celebrate its debut on the global short video platform, The Met introduced TikTok challenges in an effort to spark new creativity inspired by artworks in The Met collection. The effort will encourage millions of TikTok users worldwide to discover the Museum’s exhibitions and its collection of 5,000 years of art from around the globe. TikTok will kick off the global collaboration through a series of campaigns, in global markets including the UK, France, Germany, Poland, Spain, Japan, Korea, Malaysia, Indonesia, Singapore, Vietnam, Thailand, the Philippines, Turkey, Mexico, Brazil and others. “As a global cultural institution,...
May 07, 2019

The Met launches official account on TikTok

Downtown Dubai by Emaar Properties
Emaar logs one of the highest quarterly sales in Q1 2019
JEDDAH — Emaar Properties PJSC achieved one of the highest quarterly property sales in Dubai during the first quarter (January to March) of 2019 recording an increase of 53 percent to AED 5.979 billion ($1.628 billion) compared to the Q1 2018 sales of AED 3.906 billion ($ 1.063 billion). The sales to international customers more than doubled in Q1 2019 to AED 2.645 billion ($720 million) compared to AED 1.187 billion ($323 million) in Q1 2018, highlighting the significant interest of international investors in Dubai real estate and the strength of Emaar brand. Dubai has emerged as a global hub for all businesses including financial services, logistics, travel, hospitality and trade, and is steadily growing in other sectors such as healthcare, technology and clean energy. This growth in...
May 07, 2019

Emaar logs one of the highest quarterly sales in Q1 2019

Saudi non-oil sector growth surges to highest since December 2017
JEDDAH — April saw a robust increase in business activity across Saudi Arabia’s non-oil private sector, with the rate of growth quickening for the fourth month in a row to the fastest since December 2017, the headline seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) revealed Sunday. The report also showed that employment remains broadly unchanged despite rising demand. Business confidence towards future activity rebounded to three-month high, and output prices fell at fastest rate for 14 months. Commenting on the Saudi Arabia PMI survey, Khatija Haque, Head of MENA Research at Emirates NBD, said: “The headline PMI was unchanged at 56.8 last month. Output and new order growth remained firm, but there has been no meaningful growth in private sector...
May 06, 2019

Saudi non-oil sector growth surges to highest since December 2017

Power Partnership Summit Award winners
GE drives regional supply chain at summit
JEDDAH — GE hosted the Power Partnership Summit in Dubai, UAE, convening over 150 representatives of organizations working across the power sector in the Middle East, North Africa and Pakistan. The forum highlighted GE’s commitment to develop a robust supply chain to serve the region’s energy ecosystem as part of its strong footprint of regional services, repairs, manufacturing, projects and research initiatives. “Our collaborations with local organizations are a part of GE’s commitment to create high-quality jobs, further diversify the economy, strengthen indigenous supply chains and provide the infrastructure necessary for sustainable development across the region,” said Joseph Anis, President & CEO of GE’s Gas Power Systems and Power Services businesses in the Middle East...
May 06, 2019

GE drives regional supply chain at summit

High altitude view of the earth.  A slight curvature can be seen on the horizon.
Air Arabia net profit increases 16% in Q1 2019
JEDDAH — Air Arabia (PJSC) reported strong financial results for the first quarter (January to March) 2019 as the Middle East & North Africa’s first and largest low-cost carrier continued to deliver solid commercial and operational results. Air Arabia reported a net profit of AED128 million for the three months ending March 31, 2019, a 16 percent increase compared to the corresponding 2018 figure of AED110 million. In the same period, the airline posted a turnover of AED1,029 billion, a 17 percent increase compared to the first quarter of last year. More than 2.8 million passengers flew with Air Arabia between January and March 2019 across the carrier’s four hubs, an 8 per cent increase compared to a total of 2.6 million passengers carried in the first quarter of last year. The...
May 06, 2019

Air Arabia net profit increases 16% in Q1 2019

SR28bn fiscal surplus: Revenue rising faster than expenditure
Saudi Gazette reportJeddah — The Saudi fiscal surplus of SR28 billion in Q1 2019 — the first quarterly surplus since at least 2016 — was the result of the rise in yearly revenue at a much higher rate than expenditure, according to Jadwa Investment.Government revenue totaled SR245 billion in Q1 2019, up 48 percent, or SR79 billion, year-on-year. Both oil and non-oil revenue saw sizable rises, the Jadwa data showed.Government oil revenue rose by 48 percent, to SR169 billion, and was boosted by a SR124 billion dividend received from Saudi Aramco in March.Non-oil revenue was up by 46 percent year-on-year with 77 percent of the yearly gains coming from ‘Taxes on goods and services’, which near doubled year-on-year to SR41 billion.“We see the vast majority of revenue from this...
May 06, 2019

SR28bn fiscal surplus: Revenue rising faster than expenditure

Riyad Bank 8th Most Valuable Brand in KSA for 2019
JEDDAH — Riyad Bank achieved the highest increase rate among the most 50 valuable and strongest Saudi Arabia’s brands, ranking 8th place in Saudi Arabia compared to 11th last year, and 26th in the Middle East compared to 29th last year, according to "Brand Finance", the world’s leading independent brand valuation and strategy consultancy. — SG
May 06, 2019

Riyad Bank 8th Most Valuable Brand in KSA for 2019

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