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7651 - 7660 from 16528 . In "BUSINESS"
Najm: 47% of vehicle insurance fraud due to damage mismatches
RIYADH — Najm said in its recent report that around 47% of all insurance fraud cases result from damage mismatches.The report was published to reiterate the commitment by Najm and other relevant entities toward combating and preventing vehicle insurance fraud. This forms a key component Najm’s new strategy that aims to strengthen and protect the Kingdom’s insurance sector by adopting automation and artificial intelligence technologies across its services and products.The report also identified other most common vehicle insurance fraud cases to include old damage at 22%, engineered accidents at 21%, and phantom drivers at 10%.Commenting on those results, the CEO at Najm Dr. Mohammad Al Suliman described vehicle insurance fraud as one of the most critical issues that need to be...
April 08, 2019

Najm: 47% of vehicle insurance fraud due to damage mismatches

Saudi Ministry of Justice
Real estate sukuk updates thru Saudi Ministry of Justice portal surge 76%
RIYADH — The Saudi Ministry of Justice revealed a significant increase in real estate sukuk update activity submitted through the Ministry›s portal. The increase has been estimated to reach 76% since the launch of the service about 4 months ago in comparison to more than 30,000 update requests in 1439AH, according to the Ministry’s statistics.Recent figures show that the average number of completed sukuk updates has exceeded 23,000 annually in the major cities of Riyadh, Jeddah, Dammam and Makkah, and are expected to reach 46,000 requests by the end of the year.The Ministry described this increase in the number of real estate sukuk update requests submitted through the Ministry›s portal as a qualitative leap forward, noting that this service previously done manually, where...
April 08, 2019

Real estate sukuk updates thru Saudi Ministry of Justice portal surge 76%




Avenues - Riyadh
Hilton to open 100 hotels in MENA in next 5 years
DUBAI — With its rapidly developing pipeline in the Middle East and North Africa (MENA) , Hilton expects to open almost 100 hotels in the region in the next five years, mainly in markets such as the UAE, Saudi Arabia, Kuwait, Bahrain, Morocco and Egypt, equating to a ...
April 08, 2019

Hilton to open 100 hotels in MENA in next 5 years




Passengers have the right to accurate information
Middle East travelers seek more information about delayed, cancelled flights
JEDDAH — A new online survey for Cirium reveals the impact of flight delays and cancellations and the need for better management of flight disruption, with more communication via proactive flight updates for affected passengers.A staggering 80% of those surveyed online said they would be likely to use an app which alerted their friends, family or company about their delay.In 2018, approximately 3.9 million flights – or 10,700 a day – were delayed by over 30 minutes or canceled globally, affecting over 470 million passenger journeys around the world.Flight delays and cancellations cost airlines in the Middle East and globally over $30bn a year in lost revenue, in addition to costs borne by their passengers.Airline flight delays and cancellations are caused by a wide range of factors,...
April 08, 2019

Middle East travelers seek more information about delayed, cancelled flights

S&P: Credit outlook for GCC corporates ‘is broadly stable’
JEDDAH — The credit outlook for Gulf Cooperation Council (GCC) corporates is broadly stable, underpinned by a calm macroeconomic outlook, stable sovereign ratings, supportive interest rates, rising oil prices, and support from owners, S&P Global Ratings report on Monday said.It said issuance volumes are likely to pick up strongly in the remainder of the year, led by Saudi Aramco and Saudi Telecom, though the GCC corporate and infrastructure capital market activity was slow in the first quarter of 2019, due to volatility in the global capital market.Political risk, energy and water subsidies, and tax reforms across the GCC are the other key risks for the region›s issuers, the report added.Nevertheless, S&P Global Ratings expects volumes to pick up strongly in the remainder of the...
April 08, 2019

S&P: Credit outlook for GCC corporates ‘is broadly stable’





Makarem Batterjee
President of Bait Al Batterjee celebrates World Health Day
APRIL 7th marks World Health Day, an initiative launched by the World Health Organization (WHO) to raise awareness of prevalent global health issues that require action and impact driven change collectively from around the globe.Universal health coverage is WHO’s number one goal and theme for this year’s World Health Day with the aim of ensuring that everyone can obtain the care they need, when they need it, right in the heart of their community.Makarem Batterjee, Vice Chairman and Deputy President of the Saudi German Hospitals Group (SGH Group), President of Gold’s Gym franchise in KSA and Founder and President of Humania Capital supports and celebrates WHO’s goal. On an ongoing basis throughout and across his businesses and impact driven efforts, Makarem is dedicated to...
April 08, 2019

President of Bait Al Batterjee celebrates World Health Day

ADCorp achieves profitability in the first year of operations
ADCorp Ltd, the first ADGM-based Islamic financial institution (Category 5), on Monday announced a positive performance for 2018, its first year of operations. At a Board meeting held on 26 March 2019, the Board approved the FY2018 financial and also approved the launch of two new Sharia-compliant funds for 2019, a Global Equities Mutual Fund and a Technology Private Equity Fund.The strong financial performance follows an active first year for ADCorp. The business was established in Abu Dhabi Global Markets (ADGM) with a focus on providing financing in accordance with Sharia’ principles. Having raised funds of over $100 million in January 2018, a significant portion of this was deployed in financing facilities with attractive returns ahead of initial targets.ADCorp also made excellent...
April 08, 2019

ADCorp achieves profitability in the first year of operations





Al Faisaliah Hotel - exterior
Iftar & Suhour celebrations at Al Faisaliah Hotel Riyadh
THIS Ramadan, visitors will experience authentic flavors from live cooking stations in an opulent, yet traditional setting. Melding Arabic culture with sophisticated style, Fawanees at Al Faisaliah Hotel Riyadh will be offering an extensive Iftar buffet along with an array of dishes prepared to order by the hotel’s celebrated chefs.The range of offerings include cuisines from across the globe with a mix of Arabic and international dishes. Fresh seafood is one of the highlights of the evening as are the tempting line-up of desserts to round proceedings off.Younger guests, meanwhile, are also welcomed with open arms, with a dedicated dining and play area just for them.Fawanees Ramadan fits up to 1,800 individual guests or 2,100 for a group event, with separately designated areas that are...
April 08, 2019

Iftar & Suhour celebrations at Al Faisaliah Hotel Riyadh





Diyar Al Muharraq master plan
Diyar Al Muharraq debuts at Cityscape 2019 Jeddah
DIYAR Al Muharraq, one of the leading urban developers in the Kingdom of Bahrain, announced its inaugural participation as an exhibitor in the upcoming Cityscape Jeddah held last April 5.7.Diyar Al Muharraq is set to be among one of the top regional and international developers taking part in the event aimed at highlighting the region’s latest real estate projects.This milestone is a major step for Diyar Al Muharraq as the developer aim to promote its latest and most luxurious projects, ‘Al Naseem’ and ‘Al Bareh’ – one of the key projects of Diyar Al Muharraq’s masterplan.Both projects are positioned as upscale waterside developments with breathtaking views; with Al Naseem including an integrated residential community made up of four types of unique villas named: ‘Sabaah El...
April 08, 2019

Diyar Al Muharraq debuts at Cityscape 2019 Jeddah

All new BMW Z4 rolled out in Saudi Arabia
MOHAMED Yousuf Naghi Motors, the official importer of BMW Group in Saudi Arabia, introduced the all new BMW Z4.With dynamic performance, sumptuous interiors and the seamless adoption of the latest on-board connectivity, entertainment and communication technology, the Z4 is poised to achieve the status of ‘new classic’.With its elongated bonnet, arrow-shaped contour lines directed at the kidney grille and wheel arches in the “clamshell” style, the latest BMW Z4 is built in the mold of the marque’s classic sports roadsters.A premium two-seater open-top sports car, the Z4 is built for maximum agility, thrills and enjoyment. The design of the front and rear axles gives the Z4 a sportier edge while guaranteeing superb levels of comfort.The interior has been reimagined with a clear...
April 08, 2019

All new BMW Z4 rolled out in Saudi Arabia

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