Business & Money | Tuesday 23 June, 2015 4:31 am

Kiswa factory gets high tech upgrade

The factory making the kiswa, or covering of the Kaaba, has recently been upgraded with high-tech machines to speed up the manufacturing process.Mohammed bin Abdullah Bajawda, general manager of the factory, said that under the guidance of Sheikh Abdul Rahman Al-Sudais, president of the Two Holy...

More Details

Business & Money | Tuesday 23 June, 2015 4:17 am

41% of insurance companies in KSA and UAE believe there is a need to improve risk management framework

Due to increasing regulatory requirements, risk management oversight has surfaced prominently on the agenda of the KSA and UAE insurance companies’ boards, according to The MENA Insurance Enterprise Risk Management (ERM) survey conducted by EY and Munich Re. The survey showed that 41% of...

More Details

Business & Money | Monday 22 June, 2015 2:11 pm

BIOMETRICS IS CHANGING THE FACE OF BANKING

The accelerated adoption and unprecedented growth of mobile devices has brought about a fundamental change in the payment and commerce market globally. Over the past few years, there has been a rapid increase in the usage of mobile devices to seamlessly conduct transactions, with mobile banking...

More Details

Business & Money | Monday 22 June, 2015 1:21 pm

ECOWAS and Penspen Sign Contract for a Feasibility Study for the Extension of the Gas Pipeline Network in West Africa

The Economic Community of West African States (ECOWAS) and international energy services company Penspen announced the completion of contract signing in February 2015 to enable a formal start to the Feasibility Study examining the current West African Gas Pipeline (WAGP) system performance and its...

More Details

Business & Money | Monday 22 June, 2015 1:08 pm

Deloitte: New commercial aircrafts sales driven by increased travel in the Middle East

Global aerospace and defense companies added US$12.7 billion in revenues in 2014 according to a Deloitte study of the top 100 global aerospace and defense companies. Although revenues in the commercial aerospace subsector increased by US$23.7 billion in 2014, the strong growth was partly offset by...

More Details

Business & Money | Monday 22 June, 2015 12:49 pm

Tadawul stocks correcting due to ‘seasonality reasons’

Saudi Arabia's Tadawul All-Share Index (TASI) plunged 1.7 percent to 9,344.11 points in thin trade, dropping below its 200-day average, now at 9,433.“Due to drop in oil prices, the market trend is downward, perhaps the only qualified institution (HSBC) is waiting for bottom line prices in the...

More Details

Business & Money | Monday 22 June, 2015 5:33 am

Al Bassami International Business Group Augments its fleet with MAN Trucks

Al Bassami International Business Group added 300 more MAN trucks to support growth in its vehicle and equipment transport business in Saudi Arabia. Top Management from Haji Husein Alireza and Co. Ltd, the sole distributors of MAN Trucks and Buses in Saudi Arabia, visited Al Bassami headquarters in ...

More Details

Business & Money | Monday 22 June, 2015 5:03 am

Bayt.com Embraces the Arabic Web with Launch of بيت.شبكة (Bayt dot shabaka)

Bayt.com, the largest career platform in the Middle East and North Africa, today announced the launch of a new web presence for the company under شبكة. as part of its efforts to expand its reach with Arabic speaking customers online. Bayt.com’s new domain name – بيت.شبكة –...

More Details

Business & Money | Monday 22 June, 2015 4:46 am

Schneider Electric Channel Partners Share Compelling Business Insights

Schneider Electric, a global leader in energy management, flew its IT distributors to Budapest for the MEA Distributors Conference 2015 in recognition of their contribution to the IT business unit’s regional growth and success stories between 2014-2015. This year’s conference was built around...

More Details

Business & Money | Monday 22 June, 2015 4:26 am

Renault Reveals latest Models to Fleet Customers in KSA

In an effort to reinforce ties and strengthen partnerships with fleet customers, Renault, the number 1 European brand in Saudi Arabia recently organized three product showcase events in its showrooms in Riyadh, Jeddah & Khobar under the banner of ‘Renault Carnival’. The gala dinners focused on ...

More Details