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9551 - 9560 from 16547 . In "BUSINESS"
Atif A. Abdulmalik
Arcapita buys industrial realty portfolio in the US
ARCAPITA, a global leader in Shariah-compliant alternative investments, has acquired a seven-property industrial real estate portfolio in Cleveland, Ohio.The Cleveland portfolio comprises 655,000 square feet of high-quality industrial assets within the metropolitan area and is occupied by a diverse range of creditworthy tenants operating in the logistics, technology, and assembly space.Arcapita has partnered with Weston, an Ohio-based real estate owner-operator, with a strong history in Cleveland and the wider Mid-west. Weston will maintain a joint-venture investment in the portfolio and will serve as the leasing and managing agent.The acquisition is part of Arcapita’s broader US industrial real estate strategy targeting quality assets within the last mile and light industrial...
November 13, 2018

Arcapita buys industrial realty portfolio in the US

Virgin Mobile ranks first with lowest number of complaints
VIRGIN Mobile Saudi Arabia is the lowest provider in terms of the number of complaints made by customers against telecom operators, compared to other telecommunications companies for the sixth time in a row since 2017, CITC said in its latest report on complaints index.Virgin Mobile reaffirms its commitment in supporting customer experience as a basis for customer satisfaction.The CITC indicator shows the number of complaints for every 100,000 subscribers, indicated that Virgin Mobile Saudi Arabia, which has a customer base of 2.8 million subscribers, ranked first in terms of recording the lowest number of complaints on mobile services among all other telecommunications service providers in KSA.Commenting on this achievement, Fouad Halawi, Chief Executive officer at Virgin Mobile Saudi...
November 13, 2018

Virgin Mobile ranks first with lowest number of complaints

Jeddah Trident Hotel hosts ‘Indian Thali Food Festival’
JEDDAH Trident Hotel is hosting the “Indian Thali Food Fest” every Thursday at a very reasonably priced SR.59/+5% VAT per head upon prior reservations.The menus boast of various vegetarian and non-vegetarian delicacies including starters, main course and desserts beautifully arranged in small cups in a copper tray along with decoration. Feel the real taste of India’s strength, diversity and culture through its authentic and mouth-watering cuisine.Speaking about the event, Business Development Manager Elias Pasha said “Indian Thali Food Fest is part of the hotel’s continuous efforts to offer something special and exciting to our esteemed guests, making it a memorable experience for them.” In an effort to create multi-race ambiance, the staff are clad in traditional Indian...
November 13, 2018

Jeddah Trident Hotel hosts ‘Indian Thali Food Festival’




UAE’s Energy Minister Suhail Mohammed Faraj Al-Mazroui (L), Saudi Energy Minister Khalid Al-Falih (C) and OPEC Secretary General Mohammed Barkindo attend the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) on Monday in the Emirati capital. — AFP
Oil prices climb as Falih calls for 1m bpd global output cut
Abu Dhabi — Oil prices climbed on Monday as the world’s biggest supplier Saudi Arabia announced plans to cut production.Saudi Arabia’s Energy Minister Khalid Al-Falih said Monday that oil-producing nations should cut output by one million barrels per day to re-balance the market.“The technical analysis we reviewed yesterday shows that we need a reduction approaching one million bpd to balance the market,” he told an energy conference in Abu Dhabi.The proposed reduction is from October production levels, Falih said.Oil prices rose more than 1 percent on Monday, set for their largest one-day increase in a month after the Saudi comments.Both Brent Crude and West Texas Intermediate (WTI) saw gains of more than a dollar per barrel.Falih said Saudi Arabia would cut its production by...
November 12, 2018

Oil prices climb as Falih calls for 1m bpd global output cut

Finablr buys major share in Swych
ABU DHABI — Finablr, a global platform for payments and foreign exchange solutions, has increased its stake in Swych, a digital gifting platform, with a follow-on Series B investment to become a majority shareholder. With further exposure to the fast-growing digital gifting industry, Finablr will leverage its network’s leadership and global presence to bring Swych’s gifting network to a broader international audience. Promoth Manghat, Executive Director and CEO of Finablr, said: “At Finablr, we facilitate access for consumers and businesses to the digital economy. To deliver on that promise, we are constantly looking to innovate and partner with companies providing exceptional products and services. Swych has a distinctive business proposition that complements the services offered...
November 12, 2018

Finablr buys major share in Swych

Dr. Sultan Ahmed Al Jaber
Oil & gas industry a critical enabler of economic growth
ABU DHABI — The global oil and gas will be a critical enabler of economic growth in the 4th Industrial Age, according to Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC). Delivering the opening keynote address on Monday at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), one of the world’s leading oil and gas conferences and exhibitions, Dr. Al Jaber said the world is on the verge of an era of unprecedented prosperity. This will be driven, he said, by rapid advances in technology and a global middle class, which will grow to five billion people by 2030, creating greater demand for energy and products derived from oil and gas.“We are at the cusp of a new age of opportunity for our industry, an era in...
November 12, 2018

Oil & gas industry a critical enabler of economic growth

Uber launches Safety Toolkit for riders, drivers in Kingdom
RIYADH —Uber on Monday announced the new Safety Toolkit which, over the next few weeks, will be rolled out to riders, drivers and couriers using the app across the Kingdom. The toolkit will introduce new innovative features which aim to raise the bar on safety, and increase transparency, accountability and peace of mind for all users.Since launching the app, Uber has provided millions of people with technology that allows them to get a ride at the push of a button, track every trip with GPS technology and report any issues 24/7 with a dedicated safety team. With the introduction of new safety features, the company aims to double down on safety and help make the Uber community safer.Features that will be introduced as part of the new rider and driver safety toolkit, include:Emergency...
November 12, 2018

Uber launches Safety Toolkit for riders, drivers in Kingdom

Abdulla Salem Al Dhaheri (right), Director of Marketing, Sales and Trading at ADNOC; and HPS Ahuja, CEO and MD at ISPRL, sign the MoU on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC)
ADNOC and ISPRL sign MoU to store crude oil at Padur facility in Karnataka
ABU DHABI — The Abu Dhabi National Oil Company (ADNOC) signed Monday a Memorandum of Understanding (MoU) with the Indian Strategic Petroleum Reserves Ltd (ISPRL) to explore the possibility of storing ADNOC crude oil at ISPRL’s underground oil storage facility at Padur in Karnataka, which has a 2.5 million ton (17 million barrels) capacity. Under the MoU, ADNOC could store crude in two compartments at Padur.The MoU with ISPRL, an Indian government-owned company mandated to store crude oil for emergency needs, follows the arrival, on November 4, of the final shipment of the initial delivery of ADNOC crude to be stored in another ISPRL underground facility in Mangalore, also in Karnataka, which will store 5.86 million barrels of ADNOC crude oil.The MoU was signed by Abdulla Salem Al...
November 12, 2018

ADNOC and ISPRL sign MoU to store crude oil at Padur facility in Karnataka

High net worth GCC clients ill prepared for transition of wealth to younger generations
DUBAI – Ninety two percent of respondents to a survey launched at Jersey Finance’s new office in the DIFC Monday said that High Net Worth [HNWI] GCC clients are poorly prepared and inadequately structured for the transition of wealth across generations. It is not surprising therefore, that it is estimated that only 6% of family businesses will make it to the third generation if those current structures are not made more effective and compliant. The study concludes that GCC wealth clients need expert guidance in both structures and products, services and merits of International Finance Centers [IFCs] in order to match the complexity of compliance procedures with enhanced knowledge and attention to detail. With an estimated $1 trillion wealth set to transition between families and...
November 12, 2018

High net worth GCC clients ill prepared for transition of wealth to younger generations

Seeds for the Future ceremony
Huawei’s 4th ‘Seeds for the Future’ program attracts projects
RIYADH — Communications and Information Technology Commission (CITC) is set to collaborate with Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, to launch Huawei’s fourth edition of the global ‘Seeds for the Future’ program. This year the Seeds for the Future program is expected to attract numerous projects from a wide range of universities presented from Riyadh, each with the potential to be selected for incubation. The initiative aims to develop Information and Communication Technology (ICT) talent among Saudi students who will become tomorrow’s leaders. They will also receive focused mentoring from top Huawei executives and a chance to travel to Huawei’s global headquarters in Shenzhen, China, to gain...
November 12, 2018

Huawei’s 4th ‘Seeds for the Future’ program attracts projects

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