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OSO 2019 Summit
DCT Abu Dhabi launches overseas program event
ABU DHABI — The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) gathered Abu Dhabi’s top tourism industry leaders together with DCT Abu Dhabi’s overseas office teams for the seventh edition of its annual Destination Promotion Department’s Overseas Program Event recently to discuss upcoming initiatives which will be launched in the capital over the coming months.Hosted at Louvre Abu Dhabi, 150 participants from entities including hotels, attractions and Destination Management companies explored a wide range of topics, including upcoming events and initiatives. The OSO Event - 2019 was led by Sultan Al Dhaheri, Tourism Sector Executive Director from DCT Abu Dhabi, along with stakeholders from Louvre Abu Dhabi, the Abu Dhabi Special Olympics, as well as the core teams...
October 20, 2018

DCT Abu Dhabi launches overseas program event





Prince Khalid Bin Sultan Al Abdullah Al Faisal, President of the Saudi Federation of Automobiles and Motorcycles; Eng. Mazen Batterjee, Vice President of Jeddah Chamber of Commerce and Industry; Sheikh Amin Abulhasan, HHA Chairman Ali Hussein Alireza, Managing Director of HHA, Yousef Zainal Alireza, HHA Chief Operating Office, senior officials and partners of the two companies as well as media representatives.
HHA marks 50 years of strategic partnership with Mazda
HAJI Husein Alireza & Co. Ltd. (HHA) celebrated five decades of successful strategic partnership with Japanese auto giant Mazda Motors, which granted the company exclusive dealership rights for its vehicles in Saudi Arabia nearly 50 years ago. A ceremony was held in Jeddah to commemorate the occasion under the patronage and presence of Prince Khalid bin Sultan Al Abdullah Al Faisal, President of the Saudi Federation of Automobiles and Motorcycles, Eng. Mazen Batterjee, Vice President of Jeddah Chamber of Commerce and Industry, Sheikh Amin Abulhasan, HHA Chairman, senior officials and partners of the two companies as well as media representatives.Hiroshi Inoue, Managing Executive Officer at Mazda Motors, presented a shield of appreciation to Haji Husein Alireza & Co. Ltd. for its efforts in...
October 20, 2018

HHA marks 50 years of strategic partnership with Mazda

Majed Al-Hogail, Minister of Housing and Chairman of SRC, flanked by Fabrice Susini, Chief Executive Officer, SRC, and Rayan Fayez, Managing Director, BSF
Banque Saudi Fransi to increase LTFR mortgages under SRC deal
BANQUE Saudi Fransi (BSF) is the latest lender to offer more long-term, fixed-rate (LTFR) mortgages following an agreement signed with Saudi Real Estate Refinance Company on Oct. 17. The announcement of the SRC/BSF memorandum of understanding comes two months after SRC, supported by the Ministry of Housing, created funding for new 15-20-year LTFR mortgage loans to ‘unlock’ the Saudi real estate market. The agreement also covers SRC’s acquisition of part of BSF’s mortgage portfolio which will increase the bank’s liquidity and enable it to offer more home loans.Sponsored by Majed Al-Hogail, Minister of Housing and Chairman of SRC, the partnership was signed by Fabrice Susini, Chief Executive Officer, SRC, and Rayan Fayez, Managing Director, BSF. The signing was attended by senior...
October 20, 2018

Banque Saudi Fransi to increase LTFR mortgages under SRC deal

Emaar Development general meetlng approves special dividend
Emaar OK’s $283.2m special cash dividend
THE General Meeting of Emaar Development), the UAE build-to-sell property development business majority-owned by Emaar Properties PJSC, approved the distribution of AED1.04 billion ($283.15 million), representing 26 percent of the share capital being 26 fils per share, as special cash dividend to the company’s shareholders. The special dividend was approved just as the company marks a year of its successful listing on the Dubai Financial Market.The flagship developer of the UAE, Emaar Development has an impressive portfolio of 10 world-class destinations. These include the wholly-owned mega-developments such as Downtown Dubai, Arabian Ranches, Dubai Marina and Emirates Living; joint venture projects including Dubai Hills Estate, Emaar South and Zabeel Square; and a joint development...
October 20, 2018

Emaar OK’s $283.2m special cash dividend





GAC bags TMS 2018 Transportation & Logistics accolade
GAC secures Transportation & Logistics Award 2018
THE GAC Group has won the Transportation & Logistics title in the Middle East and Indian Subcontinent’s premiere shipping and maritime awards event, The Maritime Standard Awards 2018.The award recognizes GAC’s commitment to meeting customers’ needs for efficient and cost-effective support with a range of innovative transportation and logistics services. It also applauds the Group’s forward-looking application of technology to boost performance and the expansion of its operations throughout the region.Fredrik Nyström, GAC Group Vice President for the Middle East, said: “This award is testament to our role as an industry leader, our passionate teams around the Middle East and Indian Subcontinent who work hard to deliver world-class solutions to a global client base, and our focus...
October 20, 2018

GAC secures Transportation & Logistics Award 2018

Abdullah Humaid Al Hameli, Chief Executive Officer, Abu Dhabi Terminals, receives the award
Abu Dhabi Ports receives two industry awards
ABU Dhabi Ports, the master developer, operator and manager of the Emirate›s commercial and community ports as well as Khalifa Industrial Zone (KIZAD), received two prestigious awards at the Maritime Standards Awards, a premiere shipping and maritime awards event which recognises the achievements of the industry’s most outstanding performers across the Middle East and India.The ceremony on Oct. 17 was held under the patronage of Sheikh Ahmed bin Saeed Al Maktoum, President, Dubai Civil Aviation Authority, and Chairman and Chief Executive, Emirates Airline and Group, and hosted by former BBC TV journalist Tim Willcox. Recipients in 19 categories were chosen by an expert panel of judges drawn from different industry sectors, all with a track record of excellence in their chosen fields....
October 20, 2018

Abu Dhabi Ports receives two industry awards

Focus Softnet unveils next-generation app
FOCUS Softnet, the leading software development and enterprise applications provider, on Saturday announced the global launch of its next-generation ERP solution – Focus 9, powered by Pronghorn server - the company’s feature-rich proprietary design built with in-memory computing capabilities for lightning speed transactions, in Saudi Arabia. Built to modernize and accelerate business operations, Focus 9 supports organizations to transform business values with advanced analytics and real-time insights.Focus 9 is built on the next-generation in-memory computing technology and other upgraded features to amplify speed and efficiency of operations, forming a strong connection between the enterprise and its workforce, business networks, and departments. The ERP’s modular structure lets...
October 20, 2018

Focus Softnet unveils next-generation app

Saudi Aramco signs MoU with Zhejiang Petrochemical
DAMMAM – Saudi Aramco recently inked a memorandum of understanding (MoU) with the government of the Chinese province of Zhejiang during the Second International Petroleum and Natural Gas Enterprises Conference (IPEC) to acquire a stake in a new refinery project of Zhejiang Petrochemicals Corporation, Saudi Press Agency said on Friday. "We are looking to increase our investment in China's refineries and petrochemicals. Saudi Aramco has recently sealed a deal to supply crude oil to Zhejiang Petrochemicals. This increase in customer base is the result of our focus and attention to the Chinese market. We are also a major partner in a growing portfolio of refining and petrochemical assets in China. Saudi Aramco plays an important role part in China’s energy security. The company...
October 20, 2018

Saudi Aramco signs MoU with Zhejiang Petrochemical

European Council President Donald Tusk and Singapore's Prime Minister Lee Hsien Loong attend the EU-ASEAN meeting on the sidelines of the EU-ASEM summit in Brussels, Belgium, on Friday. — Reuters
Europe, Asia back free trade in face of Trump's 'America first'
BRUSSELS — More than 50 European and Asian leaders backed free trade and the fight against climate change on Friday in a veiled swipe at US President Donald Trump and his increasingly protectionist approach. As disputes fester with Washington, the 12th summit of the Asia-Europe Meeting (ASEM) gave its support to the World Trade Organization (WTO), which Trump has accused of treating the US unfairly. Senior figures from Asia and Europe gathered in Brussels for talks over two days, including the prime ministers of China, Japan and Russia. The leaders "committed to ensure free and open trade on a level playing field and fight all forms of protectionism, including protectionist unilateral measures and unfair trade practices", in a statement issued after the summit. The US...
October 19, 2018

Europe, Asia back free trade in face of Trump's 'America first'

IMF
Ukraine secures new $3.9 billion IMF deal after gas price hike
KIEV — Ukraine secured a new $3.9 billion stand-by aid agreement with the International Monetary Fund on Friday, helping the country maintain financial stability and the trust of investors as it heads into a choppy election period next year. The IMF announced the deal hours after the government decided to raise household gas prices by nearly a quarter, an outstanding IMF requirement, as the prime minister warned the country was headed for default without an IMF deal. The new agreement would span 14 months and replaces the previous $17.5 billion aid program that has propped up Ukraine's war-battered economy since 2015. It is subject to Ukraine passing a 2019 budget in line with the IMF's requirements and the approval of the IMF's executive board, which is expected to take a...
October 19, 2018

Ukraine secures new $3.9 billion IMF deal after gas price hike

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