Wahaj signs agreement with Rafaut Group

Time: December 05, 2019

The agreement was signed on the sidelines of the Dubai Airshow 2019, in the presence of Abdulelah bin Saud Al-Thunayan, director of business development at Wahaj, and Bruno Berthet, CEO of Rafaut Group.

Saudi Specialized Products Company (Wahaj) has signed a joint cooperation agreement with the Rafaut Group of France to build local manufacturing facilities in the aviation sector. The agreement is in line with the Kingdom’s drive to achieve one of the objectives of Vision 2030 for localization.

The agreement was signed on the sidelines of the Dubai Airshow 2019, which took place from Nov. 17 to 21, in the presence of Abdulelah bin Saud Al-Thunayan, director of business development at Wahaj, and Bruno Berthet, CEO of Rafaut Group.

Ayman Al-Hazmi, Wahaj general manager, said the deal is “a clear indication of our continuous efforts to develop the capabilities of Wahaj as a global supplier of aviation components and systems.” “We are very proud of this partnership with Wahaj, one of the leading groups in Saudi Arabia as it supports the expansion of our business in the Kingdom and the Middle East. Also, it gives us the honor to participate in achieving Saudi Vision 2030,” said Berthet.

Rafaut Group is one of the leading companies in their field in terms of design, development, qualification and endorsement of auxiliary equipment and providing structural and non-structural components for commercial and military aircraft.

This article was first published in Arab News

If you want more interesting news or videos of this website click on this link  Arab News Home

ru

Largest Volkswagen center in Eastern Province opens

Time: November 23, 2019

The opening ceremony saw the presence of a number of Volkswagen Middle East representatives.

Samaco Automotive Company, the exclusive dealer for Volkswagen in Saudi Arabia, celebrated the opening of its new integrated center in the Eastern Province on Sunday. The Volkswagen Car Center is an embodiment of the company’s strategic plan to expand in various regions of the Kingdom, as well as to enhance the presence of the brands under its umbrella — in line with Saudi Vision 2030.

The opening ceremony saw the presence of a number of Volkswagen Middle East representatives, members of the Volkswagen Owners Club in the Kingdom, Volkswagen customers, as well as representatives of the press.

The new center is located on King Fahd Road on a total area of 1,100 square meters, and is equipped with advanced equipment adapted to the development of the Volkswagen international brand. The center consists of administrative offices, a showroom that can accommodate more than 18 new cars, as well as a second showroom dedicated to certified cars. The center also offers a platform for the delivery of new and replaced cars.

Wayne Banoub, COO of Samaco Automotive, said: “With the overall positive economic and social changes in the Kingdom, we had to keep up with these developments by implementing our strategic plans. At the Volkswagen brand level, our sales have grown by 37 percent and we are continuing the development of this brand in Saudi Arabia in collaboration with our partners by launching the largest center in the Eastern Province.”

He added: “We have developed Samaco’s long-term plan to strengthen its strategy and to fully align with the Kingdom’s Vision 2030, which aims at upgrading investment services on the one hand, and expanding its presence as one of the largest car dealers in the Kingdom, on the other.”

This article was first published in Arab News

If you want more interesting news or videos of this website click on this link  Arab News Home

ru

Saudi firm Najm inks accident management deal with UAE’s Saaed company

Time: November 19, 2019

Saaed’s CEO Ibrahim Yousef Ramel (left) & Najm’s CEO Mohammad Al Suliman (right) during agreement signing in Riyadh
  • Al-Suliman stressed the importance of the insurance sector as a major component of public life, a key contributor to the non-oil local economy in the Kingdom, as well as a main target for enhancing the quality of life as outlined in Saudi Vision 2030

RIYADH: Saudi traffic insurance entity Najm Insurance Services and Emirati traffic control company Saaed have signed an agreement in order to improve accident management and vehicle insurance services in Saudi Arabia and the UAE.
They signed the agreement in Riyadh on Sunday in the presence of Najm’s CEO Mohammad Al-Suliman and Saaed’s CEO Ibrahim Yousef Ramel.
Commenting on the partnership Al-Suliman said: “This agreement forms a starting point for fruitful cooperation between the two nations in the traffic systems sector.”
He added: “Saeed’s work complements Najm’s; where Najm is specialized in vehicle insurance services, Saeed possesses a solid expertise in accident management, which forms an opportunity to achieve a beneficial knowledge exchange, and result in a successful liaison that adds value to the insurance sectors of the two nations.”
Al-Suliman stressed the importance of the insurance sector as a major component of public life, a key contributor to the non-oil local economy in the Kingdom, as well as a main target for enhancing the quality of life as outlined in Saudi Vision 2030.

FASTFACT

Najm Insurance Services, a national company established in 2007 as a result of cooperation between the Saudi Arabian Monetary Authority and the General Authority of Traffic, aims to facilitate road traffic activity and support the vehicle insurance industry in the Kingdom.

“Owing to the support provided by the Saudi Monetary Authority (SAMA) and its partnership with the General Authority of Traffic, Najm is keen to develop its services, in particular the vehicle insurance sector, which forms its key mandate and the second largest insurance division in the Kingdom, with 32 percent of all insurance activity,” he told Arab News, adding that Najm had become a role model for other insurance services.
Ramel expressed his delight at signing this agreement, which reiterates the significance of integration to ensure customer satisfaction, enhance the position of both entities and raise their contribution towards achieving an improved quality of life in Saudi Arabia and the UAE.
“The cooperation between the two entities will add value and form a strong basis for a bright future and the development targets of Saudi Arabia and the UAE,” he said.

This article was first published in Arab News

If you want more interesting news or videos of this website click on this link  Arab News Home

ru

Siemens expands Saudi footprint with new R&D center

Time: November 17, 2019

Siemens’ first MindSphere Application Center and MindSphere Lounge was inaugurated at the Siemens Head Office in Riyadh.

Siemens inaugurated the first MindSphere Application Center and MindSphere Lounge at the Siemens Head Office in Riyadh. This is the latest milestone in the company’s 90-year heritage in the Kingdom.
The MindSphere Application Center, together with the MindSphere Lounge and MindSphere Lab, offer a collaborative space, staffed by skilled people, who facilitate the co-creation of customized digital solutions with partners in the public and private sectors using MindSphere, Siemens’ cloud-based, open industrial IoT platform.
The MindSphere Application Center in Riyadh is part of a global network of 20 centers with 900 software developers, data specialists and engineers who work together with customers and partners to develop tailor-made digital solutions, thereby addressing their most pressing challenges and enabling improved operational efficiency, reduced costs and optimized systems across entire value chains.
The center represents another step toward more focused and customized product and service delivery, rather than a “one-size-fits-all” philosophy.
Stefan Werner, acting CEO of Siemens Saudi Arabia, said: “Vision 2030 is creating fantastic opportunities for our young people, who make up more than half of the Saudi Arabian population. With the MindSphere Application Center, we are providing a platform for young people to come and learn, develop and co-create with us. We have started with Effat University and look forward to achieving even more.”
Dr. Haifa Reda Jamal Al-Lail, president of Effat University, said: “We are here to officially open this center, which was designed and developed based on the winning design created by our students. I am proud of our valuable and productive partnership with Siemens, and proud of our students and their contributions to the development of Saudi Arabia, as represented by this magnificent new center.”
Abdallah Obeikan, CEO of the Obeikan Investment Group, said: “I believe Siemens will lead the digital transformation in the industrial sector globally. The capability and history of Siemens is creating a new dimension of partnership with us, moving from a normal supplier-customer relationship to a real partnership to co-create, co-develop and go to the market together.”
Prof. Dr. Rainer Speh, senior vice president, technology and innovation at Siemens Saudi Arabia, said: “We are the only company in the market that brings the virtual world together with the real world in a holistic way. The new MindSphere Application Center Lounge will enable us to work together with our customers to optimize entire production processes by seamlessly integrating data and driving continuous innovation from virtual product design to simulation, manufacturing and operations optimization.”

This article was first published in Arab News

If you want more interesting news or videos of this website click on this link  Arab News Home

ru

Bupa Arabia signs cooperation agreement with BIAC

Time: November 11, 2019

Bupa Arabia, a cooperative health insurance company, signed an agreement with Business Incubators and Accelerators Company (BIAC), a subsidiary of Saudi Technology Development and Investment Company (TAQNIA)

Bupa Arabia, a cooperative health insurance company, signed an agreement with Business Incubators and Accelerators Company (BIAC), a subsidiary of Saudi Technology Development and Investment Company (TAQNIA), in an effort to strengthen cooperation between the two companies and harness their expertise and potential for the benefit of BIAC’s clients.
This agreement presents an opportunity for the companies to support Saudi business incubators and accelerators as well as motivate entrepreneurs to innovate.
Mohammed Al-Ajlan, head of SME sales, central region, at Bupa Arabia, said the agreement will enhance collaboration between two national entities that share the same goals. The agreement will enable both parties to exchange knowledge and expertise in areas that are of great importance in refining, nurturing and supporting young Saudi talents, he said.

This article was first published in Arab News

If you want more interesting news or videos of this website click on this link  Arab News Home

ru

ANB, Ria partner to offer money transfer service

Time: November 11, 2019

The agreement allows ANB customers in Saudi Arabia to send money to beneficiaries in India through ANB’s 96 dedicated TeleMoney centers located in the Kingdom. (Supplied)

Arab National Bank (ANB), and Ria Money Transfer, a subsidiary of Euronet Worldwide and the second largest cross-border money transfer company in the world, have announced their partnership to facilitate money transfer payout services in Saudi Arabia.
The agreement allows ANB customers in Saudi Arabia to send money to beneficiaries in India through ANB’s 96 dedicated TeleMoney centers located in the Kingdom.
Anwar Al-Murshed, head of TeleMoney, said: “This partnership comes in parallel with our relentless efforts to expand our outreach and further enhance our remittance services to India. Beneficiaries can now easily transfer money, offering greater convenience for their families and friends to collect cash within minutes across India.”
“Ria is a global money transfer leader, with the second largest network in the world and a resolute determination to keep setting a higher standard in remittance delivery for our customers,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment.

This article was first published in Arab News

If you want more interesting news or videos of this website click on this link  Arab News Home

ru

Seera, Disneyland Paris announce partnership

Time: November 06, 2019

The five-star Disneyland Hotel, just a stroll away from the gates of Disneyland Park, is a majestic Victorian-inspired mansion that delivers the finest Disney quality, service and hospitality.

Saudi Arabian travel services provider Seera Group has joined hands with Disneyland Paris to further strengthen travel demand from the Kingdom, the wider GCC and North Africa to Paris.

With this new alliance, Seera, formerly Al-Tayyar Travel Group, is now a general sales agent for Saudi Arabia and the wider GCC as well as North Africa, Lebanon and Jordan. The company will sell Disney packages that include hotel accommodation and park entry across all its platforms, including corporate and government travel platforms — both driven through Elaa, the group’s specialized travel management business, as well as directly to end consumers through Almosafer, Seera’s flagship omni-channel consumer travel brand, and Tajawal, the UAE-focused online travel booking platform.

Seera will also create customized packages covering flight and ancillary products to create added value for its customers. These packages for Disneyland Paris will also be made available to third-party travel agencies in all these markets.

HIGHLIGHT

Seera’s partnership with Disneyland Paris, Europe’s No. 1 tourist destination, is expected to further enhance the number of Saudi outbound visitors, who can benefit from the various hotel packages as well as wide choices of leisure attractions.

Abdullah bin Nasser Aldawood, chief executive, Seera Group, said: “At Seera, our customers are at the heart of our business, and we are committed to offering them the widest range of services to enhance their holiday experiences. We are constantly evolving our product offering in line with the needs of the regional travel market. In addition to driving continuous innovation, we work with global leaders to unlock new opportunities to offer added value for our customers. Our partnership with Disneyland Paris is designed to make unforgettable memories for family visitors from the region.”

Brigid McDonnell, head of sales  at Disney Destinations International, said: “Every year, we create Disney memories that will last a lifetime for guests coming from different horizons, and we are so pleased to develop our new partnership with Seera to give this opportunity to the many Saudi families eager to visit us.”

Paris is one of the top 10 destinations for Saudi travelers. According to official reports, the French Consulate in the Kingdom issued over 130,000 tourist visas in 2016, with numbers having grown further since. Seera’s partnership with Disneyland Paris, Europe’s No. 1 tourist destination, is expected to further enhance the number of Saudi outbound visitors, who can benefit from the various hotel packages as well as wide choices of leisure attractions.

The marvels of Disneyland Paris come alive in two Disney Parks filled with fantasy, imagination and adventure. The destination includes Disneyland Park, opened in 1992, and Walt Disney Studios Park, opened in 2002. More than 50 attractions spread over different themed lands, a variety of shops and restaurants, live entertainment options and encounters with Disney characters can be experienced all year long by the guests. There are also six Disney Hotels and two Disney Nature Resorts with a total capacity of more than 5,800 rooms, two international convention centers, the Disney Village and a 27-hole golf course.

This article was first published in Arab News

If you want more interesting news or videos of this website click on this link  Arab News Home

ru

LuLu chairman hails Saudi reforms at FII 2019

Time: November 04, 2019

LuLu Group Chairman and Managing Director Yusuff Ali M.A. greets King Salman during a lunch hosted last week in honor of Prime Minister of India Narendra Modi at Al-Yamamah Palace, Riyadh.

One of the region’s top retailers, LuLu Group, a strategic partner of Future Investment Initiative (FII) 2019, has unveiled its future plans for the Kingdom at the annual forum in Riyadh. Speaking at the session “The Sky’s the Limit: How will Infrastructure Investments Reinvent Communities and Turbocharge the Global Economy?” LuLu Group Chairman and Managing Director Yusuff Ali M.A. hailed the innovative and farsighted vision of the Saudi leadership.
He said the various initiatives both in the economic as well as socio-cultural sectors being initiated by Crown Prince Mohammed bin Salman are yielding the right results. “Saudi Arabia is fast becoming the economic and investment hub of the region and entire world is looking at Saudi Arabia in a whole new perceptive,” he said.
LuLu Group, which has 38 hypermarkets, supermarkets and shopping malls across the Kingdom, is looking to expand its footprint in Saudi Arabia with 10 more hypermarkets and supermarkets in different regions of the country.
Lulu will soon be launching a next-gen online shopping app, which will offer highest quality products at competitive prices, coupled with the convenience of shopping from the comfort of the home.

Saudi Arabia is fast becoming the economic and investment hub of the region and entire world is looking at Saudi Arabia in a whole new perceptive.

Yusuff Ali M.A., LuLu Group Chairman and Managing Director

LuLu Hypermarket, one of the largest retailers in the region, recently celebrated the group’s 10th anniversary in the Kingdom.
With 180 stores operating worldwide, LuLu aims to provide and sustain the supply of global products at the best rates. It is one of the favorite shopping destinations of both locals and expatriates in the Kingdom.
LuLu is the fastest growing retail chain across 10 countries that include the GCC, India, Egypt, Indonesia, and Malaysia. It is one of the Middle East’s top employers with a workforce numbering at more than 55,000.

This article was first published in Arab News

If you want more interesting news or videos of this website click on this link  Arab News Home

ru

Bahri wins three titles at Maritime Standard Awards 2019

Time: November 04, 2019

Bahri’s CEO Abdullah Aldubaikhi receives the ‘Ship Manager of the Year’ award at the sixth Maritime Standard Awards in Dubai.

Bahri, a Saudi provider of logistics and transportation, has been recognized with three awards at the sixth Maritime Standard Awards, which took place at Atlantis, The Palm in Dubai on Oct. 21.
Bahri’s CEO Abdullah Aldubaikhi was honored with the “Lifetime Achievement Award” at the awards ceremony as a recognition for his invaluable contributions to the maritime sector. He also accepted the titles of “Ship Manager of the Year” and “Ship Owner/Operator of the Year” on behalf of the company.
Commenting on the awards, Aldubaikhi said: “We are proud that our achievements have been recognized through these prestigious titles, which underline the significant impact of Bahri’s contribution to the global maritime industry. I would like to thank our partners, customers and, above all, the dedicated members of the Bahri family across the globe whose endeavors are central to our achievements and have made this moment possible. These accolades will serve as powerful motivation as we set sail to the future with confidence and chart a course to further innovation and enduring success.”
Held under the patronage of Sheikh Ahmed bin Saeed Al-Maktoum, president of Dubai Civil Aviation Authority, chairman and chief executive of Emirates Airline and Group, and chairman of Dubai Airports, the glittering awards ceremony attracted more than 700 of the region’s key decision-makers, including senior executives from global shipping companies, ports, terminal operators, and maritime organizations.
The Maritime Standard Awards highlights the achievements of the maritime industry’s most outstanding performers across the Middle East and the Indian subcontinent and is regarded as the region’s premiere shipping and maritime awards event.

This article was first published in Arab News

If you want more interesting news or videos of this website click on this link  Arab News Home

ru

Alawwal Bank & SABB merger named ‘Deal of the Year’

Time: November 04, 2019

Soren Nikolajsen, deputy managing director, transformation at SABB (and former managing director of Alawwal bank), accepted the award for the newly combined bank.

The merger of Alawwal Bank and SABB has been awarded “Deal of the Year” at the International Financial Law Review (IFLR) Middle East Awards. The merger made Saudi banking history, creating the third largest bank by assets in the Kingdom.
Soren Nikolajsen, deputy managing director, transformation at SABB (and former managing director of Alawwal Bank), accepted the award for the newly combined bank. “A merger of this scale and complexity has never been attempted in Saudi Arabia. Every new stage we reached, we were breaking new ground and writing the book for future mergers in the Kingdom. It was an epic challenge but we were driven by the opportunity to create the best bank in the Kingdom — and I’m pleased to say our integration is on track to deliver on that,” he said.
The legal merger of the two banks completed on June 16, joining two of the longest running banking legacies in Saudi Arabia. Its completion highlights the maturity of the Kingdom’s capital markets, as the country’s Vision 2030 strategy looks to diversify the economy and facilitate international investment.

HIGHLIGHT

The combined bank has cemented its position as a top tier financial institution in the Kingdom with SR257 billion of total assets and a total revenue of SR10.9 billion.

Nikolajsen added: “I’d like to dedicate this award to everyone who made the merger a reality, as well as expressing our gratitude to the Kingdom’s regulators for their unwavering support. Most of all, I would like to thank our staff, whether they were directly involved in the merger, or making sure our customers received a first-class business as usual service throughout — everyone played their part.”
The combined bank has cemented its position as a top tier financial institution in the Kingdom with SR257 billion ($68.68 billion) of total assets and a total revenue of SR10.9 billion. The merger creates increased scale and capacity to support an increasingly diverse customer base, while offering unrivalled international connectivity for retail, corporate and institutional clients.
The IFLR Middle East Awards Ceremony is hosted annually, celebrating the most innovative transactions achieved and the teams that work on them.

This article was first published in Arab News

If you want more interesting news or videos of this website click on this link  Arab News Home

ru