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European Trade Commissioner Cecilia Malmstrom speaks during an interview with Reuters at the EU Commission headquarters in Brussels, Belgium, in this Jan. 15, 2018 file photo. — Reuters
EU green lights trade talks with Washington to defuse tension
BRUSSELS — European Union countries on Monday overruled France and gave the green light for Brussels to open trade talks with Washington as soon as possible and defuse trans-Atlantic tensions.The EU’s 28 member states had struggled for months to agree on a mandate to open the talks, with some fearing the delay would restart a trade war with US President Donald Trump.But EU ministers meeting in Luxembourg approved a mandate to negotiate “an agreement limited to the elimination of tariffs for industrial goods only” and another accord designed to remove non-tariff barriers.The ministers said the mandate would exclude agriculture products, which EU trade minister Cecilia Malmstrom said amounted to a “red line” for Europe.US officials have pushed for farm products to be...
April 15, 2019

EU green lights trade talks with Washington to defuse tension

AI solution tested to boost oil well output
DUBAI — Zyfra Group, Finnish-Russian AI and IIoT solutions developer for industries has successfully tested an electrical submersible pump (ESP) software unit, designed to enhance the efficiency of oil extraction by boosting oil well production rates by 1.5 per cent without any additional capital investment.The ESP software unit is now operational for more than three months in 500 oil wells in Western Siberia, Russia, which makes an additional profit of $2 million and the growth in production is 1.5 percent.It is equipped with artificial intelligence to provide recommendations based on historical Big Data analysis. The unit recommends a mode of well operation that will ensure maximum oil flow rate for a certain period of time and provides for stable operation during that period by...
April 15, 2019

AI solution tested to boost oil well output




Old Opera House (Alte Oper), Frankfurt
GCC yields 1.8m overnight stays in Germany in 2018
DUBAI — The German National Tourist Board (GNTB) has announced that it will be showcasing a range of key destinations at Arabian Travel Market (ATM) 2019, which takes place at the Dubai World Trade Centre from April 28 to May 1.Participants from Germany partnering with the GNTB this year include Hotel Palace Berlin, Frankfurt Tourist and Congress Board, Baden-Baden Tourism Board, Outletcity Metzingen, the State Tourist Board SouthWest-Germany (Baden-Württemberg Tourismus) and the Black Forest Highlands (Hochschwarzwald Tourismus).The GNTB’s tourism partners covering local tourist boards, luxury hotels, hospitality, retail, spas and theme parks, each has its own unique proposition, whether spring, summer, autumn or winter, emphasizing that Germany is a diverse and unique all year-round...
April 15, 2019

GCC yields 1.8m overnight stays in Germany in 2018




SAGIA Deputy Governor Ibrahim AlSuwail (second, right) presents case study on National Licensing Reform Program as part of Saudi delegation at the World Bank’s Spring Meetings in Washington, D.C.
Reform program stimulates investment in Saudi Arabia
RIYADH – Saudi Arabia’s National Licensing Reform Program was in the spotlight at the World Bank’s Spring Meetings on Friday as SAGIA showcased how it has helped to cut red tape and boost international investment.Saudi Arabia is witnessing strong growth in foreign investment coming into the Kingdom. Last year, Saudi Arabia saw the value of inward FDI grow 127% year-on-year.The National Licensing and Reform Program (NLRP) has played an important role in the improvements in the operating environment that have helped to attract increased levels of investment.Through the Program, the number of licensing requirements in Saudi Arabia has reduced by more than half and the NLRP has already successfully eliminated or modified more than 60% of over 5,500 licenses selected for reform.Commenting...
April 15, 2019

Reform program stimulates investment in Saudi Arabia

Good corporate governance essential to MENA region’s financial, economic growth
DUBAI — Hawkamah, The Institute for Corporate Governance, will hold its thirteenth annual conference in Dubai on April 25, 2019 in partnership with ICSA: The Governance Institute, the professional body for governance in the UK, Republic of Ireland and Associated Territories, Channel Islands and the Isle of Man.At the 2019 conference – ‘Towards Sound Corporate Governance and Sustainable Growth: Strengthening the Role of Companies in Society’ – experts from around the world will gather at the Armani Hotel to explore how different countries are approaching governance challenges, with a special emphasis on large, non-listed companies. They will also look at the ways in which good corporate governance practices support sustainable growth in the face of rapid change and growing...
April 15, 2019

Good corporate governance essential to MENA region’s financial, economic growth

Huawei to drive discussion on 5G commercialization at SAMENA Leaders’ Summit
HUAWEI, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, will host the ‘5G is ON’ forum as part of the SAMENA Leaders’ Summit, scheduled on April 18, 2019. Huawei will explore the 5G readiness of the region and engage in discussions exploring the large-scale deployment and commercialization of 5G.Private and public sector industry leaders will take part in Huawei’s subforum to discuss how emerging 5G-enabled intelligent services and innovations can help operators identify new business opportunities and thereby achieve growth.As the leader and partner of choice for operators launching 5G globally, Huawei will also use the event as a platform to demonstrate how its E2E 5G solutions can help Middle East organizations fully...
April 15, 2019

Huawei to drive discussion on 5G commercialization at SAMENA Leaders’ Summit

Yasser AlSharief receives the award
Yasser Alsharief of JODC accorded Top CEO Award
THE Chief Executive Officer of Jabal Omar Development Company (JODC) Yasser AlSharief has won the Top CEO Award, which was presented during a ceremony hosted by Trends magazine and ANSEAD School of Business at Al Areen Resort in Bahrain.The prestigious win was based on the company’s strong financial results among companies listed on the GCC stock market, adding one more award to JODC’s local and regional accolades in a number of fields.AlSharief participated in the Top CEO Forum held in Bahrain recently, where he was a member of a panel discussion titled ‘Do structural reforms contribute to investment promotion?’, along with Dr. Simon Galf, Director General of the Bahrain Economic Development Board; Ashraf Bseiso, CEO of Solidarity Holding Group; Walid Dawood, Director ofKPMG of...
April 15, 2019

Yasser Alsharief of JODC accorded Top CEO Award

During the launch event at Jarir Ahasa Showroom in Riyadh
HONOR debuts in Saudi market
HONOR, a leading smartphone e-brand, debuts its retail presence in Saudi Arabia with the launch of its first shop-in-shop at Jarir Ahasa Showroom in Riyadh. The opening presents youth in the Kingdom the opportunity to access HONOR’s robust portfolio of devices and accessories.The shop-in-shop is designed to create a comprehensive retail experience optimizing access to HONOR’s latest products and services all under one roof. The setting of the shop-in-shop in the bookstore showroom is targeted to appeal to a youth demographic that is driven by trends and fashion which resonate with HONOR’s spirit and the brand’s inherent identity.Chris Sunbaigong – President of HONOR MEA, Wolf Langming, Vice President of HONOR KSA, and Esam Alhasan, Marketing Vice President of Jarir Bookstore,...
April 15, 2019

HONOR debuts in Saudi market

5 of Blossom’s startups to meet with Facebook, Uber and Google
FIVE of Blossom’s startups competed for the chance to win a sponsored trip to Silicon Valley, to have access to global markets, meet with the headquarters of Facebook, Uber, and Google, and be a panelist at Blossom’s annual event on June 26, 2019, previously opened by Princess Reema Bint Bandar in San Francisco, California.Blossom, first Saudi female-focused accelerator just wrapped up their 3rd demo day after 4 months of screening over 100 applicants they carefully selected 5 startups to participate in this year’s accelerator cohort. This year adding on a twist where they sponsored a winning startup to meet with Facebook, Uber, and Google and be a panelist at their upcoming event on June 26th, 2019 bringing the best of Saudi Arabia and Silicon Valley together, increasing knowledge...
April 15, 2019

5 of Blossom’s startups to meet with Facebook, Uber and Google

Air Arabia A321
Air Arabia first Middle Eastern airline to operate A321neo LR
AIR Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC), received on Monday its first Airbus (A321neo Long Range). The aircraft flew nonstop from Airbus’s facility in Hamburg to Sharjah International Airport.Air Arabia is the first Middle Eastern airline to operate the A321neo LR and this delivery is the first of six aircraft that will join Air Arabia’s fleet that comprises of 53 A320 Family aircraft serving more than 155 routes across the globe from four hubs in the UAE, (Sharjah and Ras Al Khaimah), Morocco and Egypt. The addition of the A321neo LR will enable Air Arabia to expand to new medium-haul markets in addition to strengthening the existing routes with increased seat capacity.Adel Al Ali, Group Chief Executive Officer of Air Arabia, said:...
April 15, 2019

Air Arabia first Middle Eastern airline to operate A321neo LR

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