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Zain KSA Eng. Saad Al-Sadhan, Chief Business and Wholesale Officer; and Felix Wass, CEO and President of DETASAD, sign the agreement
Zain KSA and DETASAD sign strategic agreement
ZAIN KSA Eng. Saad Al-Sadhan, Chief Business and Wholesale Officer; and Felix Wass, CEO and President of DETASAD (Detecon Al Saudia Co. Ltd), have signed a strategic agreement ensuring them to be a catalyst in enhancing, developing, and growing Cloud and Managed services in KSA.This strategic partnership will open doors for both companies to share best practices, expertise and specialties of each other’s in the field of ICT, including Cloud Computing, Managed Services, Data Centers, Deployment Solutions, Cyber Security and the upcoming IOT (Internet of Things) solutions. In addition to enhancing the services and products, this agreement will also facilitate and develop available resources for innovation and creation, combining 10 years’ experience of Zain in KSA, and 37 years’...
April 30, 2019

Zain KSA and DETASAD sign strategic agreement

Khalid A. Al-Falih
Falih: We'll stick to global oil deal
MOSCOW — Saudi Arabia will not rush to boost oil supply to make up for a loss of Iranian crude due to US sanctions, and will stick to a global deal on oil production, which could be extended to the end of 2019, Energy Minister Khalid Al-Falih told RIA news agency.Falih was speaking to Russia's RIA news agency on Tuesday, without specifying whether, or by how much, output levels could change after June.Oil prices have surged by almost 40 percent since January, lifted by the OPEC+ supply cuts as well as by US sanctions on producers Iran and Venezuela. Brent crude futures were trading at $72.40 at 0855 GMT on Tuesday.Falih told RIA that the world's top oil exporter was ready to meet consumer demand after the Iran oil waivers expire in early May, including by replacing Iranian oil...
April 30, 2019

Falih: We'll stick to global oil deal

Amin Nasser
Aramco building facilities to tap shale gas
DAMMAM— Saudi Aramco is building facilities to tap shale gas in the Eastern Province, Chief Executive Officer Amin Nasser told reporters.Aramco is seeking unconventional gas at the South Ghawar and Jafurah deposits in eastern Saudi Arabia, he said.Plans include a plant to desalinate seawater that Aramco can then inject underground to frack for gas. It plans, for example, to build a reverse-osmosis desalination plant to treat Gulf seawater for injection into the Jafurah basin to dislodge shale gas.Jafurah is located between Ghawar, the world’s largest oil field, and the Gulf, near the hub of the Saudi energy industry.The water-treatment facility is in the planning and design phase and could be in operation in four to five years, Mohammed Al Qahtani, Aramco’s senior vice president for...
April 29, 2019

Aramco building facilities to tap shale gas

Ibrahim Al-Omar
70% rise in new licenses for foreign businesses
RIYADH — The number of new licenses approved for foreign businesses in Saudi Arabia rose by 70 percent in the first quarter of 2019 from a year earlier, Bloomberg reported on Monday, citing the governor of Saudi Arabia General Investment Authority (SAGIA).“Applications from British and Chinese companies drove the increase, rising by 86 percent and 71 percent, respectively,” Ibrahim Al-Omar was quoted as saying in an interview.FDI figures for the first quarter aren’t yet available, though SAGIA is “continuing to see strong momentum from foreign investors,” Al-Omar said.“We’ve seen a good increase in the number of companies looking to operate in Saudi Arabia, and in the number of industries that they are looking to invest in.”SAGIA is working with the World Bank to improve...
April 29, 2019

70% rise in new licenses for foreign businesses

Personalization technology vital for travel companies to succeed
DUBAI — Gulf-based travel and hospitality companies that use disruptive technologies to boost personalization and remove friction for customers are likely to become future market leaders, according to experts speaking at Arabian Travel Market (ATM) 2019.In a panel discussion titled ‘The Big Picture – Who Will Sell Travel Best in the Future?’, which took place on ATM’s Global Stage, representatives from Booking.com, Sabre Corporation, Google, Facebook and Emirates explored the potential benefits and pitfalls of technology implementation in the Gulf’s tourism sector.While innovations such as the Internet of Things (IoT), artificial intelligence (AI), machine learning and personalization technology have the potential to boost efficiency across the industry, panelists emphasized...
April 29, 2019

Personalization technology vital for travel companies to succeed

US consumer spending up
WASHINGTON — American consumer spending leapt last month to post the biggest gain in 10 years, recovering from a weak start to 2019, while inflation remained tame, according to government data released Monday.The strong finish to the third quarter comes a day before the Federal Reserve is due to meet, with markets overwhelmingly expecting the central bank to leave interest rates untouched.The latest figures confirm the picture of steady economic growth in the first quarter that were released Friday in the Commerce Department's GDP report.After three weak months, Americans returned to buying durable goods like light trucks and machinery, driving overall spending up to $14.3 billion or 0.9 percent compared to February, the biggest monthly gain since August 2009. That was largely in...
April 29, 2019

US consumer spending up

Kharef Salalah
Oman becoming a tourism and investment hub
MUSCAT —Oman's aviation sector developer, Oman Aviation Group unveiled its brand identity and strategy to propel the Sultanate's aviation sector into the future. The move comes as part of the company's efforts to highlight Oman's significance on the global stage and broaden its appeal as a first-class destination for tourism and investment and an international hub for business and logistics. Operating three main subsidiaries comprising Oman Air, Oman Airports and Oman Aviation Services, the Group is the lead facilitator for the Sultanate's 25-year National Tourism Strategy. Oman Aviation Group's long-term goal is to be a catalyst for progressive change in the local market as the Sultanate continues to develop a fully integrated aviation ecosystem.Ahmed Al-Futaisi,...
April 29, 2019

Oman becoming a tourism and investment hub

Group photo of participants in workshop
MSMEs in Oman urged to promote corporate practices
MUSCAT – The Pearl Initiative, the business-led non-profit organization promoting corporate transparency and accountability in the Gulf Region, held a workshop in collaboration with Zubair SEC, in Muscat, Oman on April 24- 25. The workshop was the first in a series scheduled for 2019, and was led by a representative of the International Finance Corporation (IFC), a subsidiary of the World Bank Group.The workshop focused on how micro, small, and medium-sized enterprises (MSMEs) in Oman can benefit by adopting corporate governance practices to ensure enhanced business outcomes. In 2017, the Pearl Initiative published a report which highlighted that MSMEs were unaware of the benefits that corporate governance could bring to their business or did not prioritize corporate governance for their...
April 29, 2019

MSMEs in Oman urged to promote corporate practices

US-China trade talks nearing key pace
WASHINGTON — Trade talks between the world's dominant economies are in the decisive phase that will determine whether a final agreement is possible, US Treasury Secretary Steven Mnuchin said Monday of negotiations with China.Mnuchin and US Trade Representative Robert Lighthizer travel to Beijing this week for another round of talks with Chinese negotiators starting Tuesday, and they will meet next week in Washington to try to finalize a deal that President Donald Trump has demanded to repair what he calls and unfair and unbalanced relationship."I think there's a strong desire from both sides to see if we can wrap this up or move on," Mnuchin said in an interview on Fox Business Network."We hope within the next two rounds – in China and in DC – to be at the...
April 29, 2019

US-China trade talks nearing key pace

Personalized realities seen aplenty in post-digital era
RIYADH – The enterprise is entering a new “post-digital” era, where success will be based on an organization’s ability to master a set of new technologies that can deliver personalized realities and experiences for customers, employees and business partners, according to Accenture Technology Vision 2019, the annual report from Accenture (NYSE: ACN) that predicts key technology trends that will redefine businesses over the next three years.According to this year’s report, “The Post-Digital Era is Upon Us — Are You Ready for What’s Next?,” the enterprise is at a turning point. Digital technologies enable companies to understand their customers with a new depth of granularity; give them more channels with which to reach those consumers; and enable them to expand ecosystems...
April 29, 2019

Personalized realities seen aplenty in post-digital era

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