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5891 - 5900 from 16547 . In "BUSINESS"
Shawarmer marks 20th year by opening 100th restaurant
RIYADH — The Shawarmer restaurant group celebrated its 20th anniversary this week with the opening of its 100th location, marking a three-year aggressive expansion strategy that saw the company more than double the size of its operation.Shawarmer, owned by Innovative Foods Holding, is one of the largest and fastest growing Saudi owned and operated restaurant groups. The company has opened 20 new locations in just over a year and 50 restaurants since 2016 while expanding its presence to more than 20 cities across the Kingdom. As a result of that expansion, the Innovative Foods and Shawarmer workforce has grown to more than 1,500 employees, with 23% representing Saudi nationals.“We credit our growth and success to the thousands of loyal Shawarmer fans who appreciate and value how we have...
September 30, 2019

Shawarmer marks 20th year by opening 100th restaurant

Investment reforms, 2020 events to fuel GCC growth
DUBAI — PwC expects investment reform and the increased focus on the GCC, driven by EXPO and the G20 in 2020, to help drive future growth and instill confidence in the region despite current turbulence in the oil market, deflation and growing fiscal pressures in some countries.In the latest issue of its Middle East Economy Watch, PwC looks beyond the standard indicators to review the positive changes that have been underway in the landscape for foreign investment and public-private partnerships (PPP). The report also looks at the growing interest in the Gulf by emerging market equity and bond investors made possible by capital market reforms, another positive indicator for the region’s growth prospects. And finally, PwC looks at the potential impact and significance of two of next...
September 30, 2019

Investment reforms, 2020 events to fuel GCC growth

Dubai developers race to lure buyers as downturn bites
DUBAI — Dubai, a city defined by its glittering towers and man-made islands, is stuck in a five-year property downturn with no end in sight, drawing warnings of an industry reckoning that will see weaker players fail.Property developers are slashing prices and offering ultra-easy financing to lure customers, while concerned authorities have stepped in with incentives and regulations to revive the crucial sector.Ahead of the Expo 2020 global trade fair that Dubai hopes will deliver an economic windfall and some 300,000 new jobs, hundreds of mega projects have been unveiled in recent years, leading to an oversupply and a slide in prices.The government rushed to rescue the sector in 2018 with a raft of measures including easy visa terms for expatriate buyers and permanent residence permits...
September 30, 2019

Dubai developers race to lure buyers as downturn bites

egypt rates
Egypt seen to cut rates further to boost growth
CAIRO — Egypt's rate cut and easing inflation willsupport bank revenue, Moody’s said.On September 26, the Central Bank of Egypt (CBE) cut its benchmark interest rates by 100basis points (bp), lowering the discount rate to 13.75%, a credit positive for banks.With inflation now below the CBE's 9% target, Moody’s Investors Service expects additional rate cuts over the next year, which will bolster business confidence and economic growth, supporting increased credit growth and business opportunities for banks, which will outweigh pressure on their netinterest margins.Lower interest rates and inflation will encourage capital spending by businesses that have been holding back on such investments, supporting consumer spending through enhanced debt affordability and government...
September 30, 2019

Egypt seen to cut rates further to boost growth

Students keen on cybersecurity ideas urged to take part in Secur’IT Cup 2019
JEDDAH — Kaspersky is calling for young talent to take part in Secur’IT Cup 2019 – an international competition for ambitious students to work on fresh cybersecurity ideas which will help create a safer future.All modern world developments are driven by technology. Older, established industries are changing rapidly as a result, with new ones gaining momentum. However, one downside of a reliance on advanced and innovative technologies is that they are highly vulnerable to cyberthreats. As solutions become more developed, the greater the demand becomes for the next generation of cybersecurity support.That’s why Kaspersky is driving educational initiatives to encourage young people to enter the cybersecurity industry. The Secur’IT Cup’19 competition gives young enthusiasts the...
September 30, 2019

Students keen on cybersecurity ideas urged to take part in Secur’IT Cup 2019

SAUDIA  welcomes its first Boeing 787-10 Dreamliner
SAUDIA receives its first Boeing 787-10 Dreamliner
JEDDAH – Saudi Arabian Airlines (SAUDIA), the national flag carrier of the Kingdom of Saudi Arabia, at a special ceremony at the new Terminal 1 of Jeddah’s King Abdulaziz International Airport on Monday, welcomed its first 787-10 Dreamliner, which will play a key role in the airline’s fleet and network expansion.The largest member of the Dreamliner family sets the benchmark for fuel efficiency and operating economics and will complement SAUDIA’s existing fleet of 13 Boeing 787-9s.“SAUDIA operates a state-of-the-art fleet equipped with the latest technology, and in addition to the airline’s existing Boeing 787-9 Dreamliners, is now adding the 787-10 variant which will further support future network growth plans,” said Director General Saudi Arabian Airlines, His Excellency...
September 30, 2019

SAUDIA receives its first Boeing 787-10 Dreamliner

Majid Saad Alarifi
Upcoming GITEX Tech Week to showcase latest innovative digital systems
DUBAI — GITEX Technology Week 2019 will be held on Oct. 6-10 at Dubai World Trade Center. Elm, the leading digital solution provider, will showcase its latest digital systems that reflect its adoption of the Data Revolution concept during its participation at the technology week.Participating for the 10th consecutive year in GITEX Technology Week, Elm will present its new integrated systems, including Elm Analytics Platform; Elm Health Information System; IoT Telemedicine Platform; “Seraj” Smart Consulting Integrated System for Intelligent PMO and the Integrated Transport System.Elm's participation in the 39th edition of the region's premier ICT event is characterized by “Passion for Innovation” which comes in line with Elm’s vision in business.Elm has achieved a lot of...
September 30, 2019

Upcoming GITEX Tech Week to showcase latest innovative digital systems

‘Sakni’ & ‘military's mortgages’ raise mortgage contracts to 157% last July: Jadwa
JEDDAH — A recent report by Jadwa Investment Company says that the continuity of implementation of the Kingdom's Vision 2030 objectives by the Ministry of Housing in Saudi Arabia increased the residential mortgage by 157% to exceed SR35 billion. Villa loans accounted for 79% of the total value, according to the report.The report pointed out that there are two main reasons for this remarkable rise. The first is about 30,000 of military members granted subsidized loans without interest during the first half of 2019, which is about 50% of the total mortgages. The other is announcement of "Sakni" to provide 200,000 units for citizens during 2019, include providing 100,000 subsidized loans.The report emphasis that the goal of increasing the level of real estate loans is to raise...
September 30, 2019

‘Sakni’ & ‘military's mortgages’ raise mortgage contracts to 157% last July: Jadwa

MENA hotels profit-losing streak continues
JEDDAH — August marked the 12th consecutive month of profit decline at hotels in the Middle East and North Africa, as profit per room fell by 7.0% year-over-year to $58.06. This is in stark contrast to the last time the region saw positive profit growth, when in August 2018 GOPPAR was up 24.8% over the same time the prior year.As in times before, decline in profit was led by a drop in RevPAR, which fell by 4.2% YOY to $107.26. This was impacted by a 4.4% drop in average room rate to $161.10. Occupancy increased by a marginal 0.2 percentage points to 66.6%.Typical of August, the market mix was dominated by the leisure segment, which accounted for 48.4% of total roomnights sold.This was in contrast to volume in the commercial segment, which comprised just 24.9% of all roomnights sold, down...
September 29, 2019

MENA hotels profit-losing streak continues

The awardees
Regional investor relations professionals recognized
DUBAI — Regionally listed companies and industry professionals with exceptional performance in Investor Relations (IR) during the last year were recognized at the recently held 11th Middle East Investor Relations Association (MEIRA) Awards ceremony.The ceremony followed the MEIRA Annual Conference, the region’s largest event dedicated to investor relations. The Awards Ceremony was a much-awaited highlight which attracted over 120 top-tier industry professionals, regulators and stock exchanges as well as representatives of MEIRA’s member companies. The event recognized the achievements of winners in three main categories including the best IR teams, annual reports and IR websites in the Middle East.For the first time in 2019, the best IR website was selected through a judging process...
September 29, 2019

Regional investor relations professionals recognized

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