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FINANCE & ECONOMY

Tearing down the wall: Saudi restaurants adjust to the abolishment of gender segregation
January 28, 2020

RIYADH: Saudi diners are still chewing over the Kingdom’s move to end the long-standing legal requirement for restaurants to have separate entrances for males and families.

As a result of reforms — involving 103 rules and regulations, manuals, models, and standards aimed at making life easier for citizens and visitors — men and women no longer have to enter restaurants"...

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Largest French business team visits Saudi Arabia
January 28, 2020

RIYADH: The largest French business delegation to tour a country is visiting Riyadh in a two-day trip to meet Saudi ministers.

The delegation is composed of 100 representatives from 80 French companies.

“We are here to tell them (the Saudi government), look, French business wants to be more present in Saudi"...

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Young Saudi engineers complete a series of training provided by Japan
January 28, 2020

RIYADH — Qualified 29 Saudi engineers have completed quality control training program organized jointly by the Kingdom and Japan as part of a long-term strategic partnership between two countries.

QC training is one of 3 training to be conducted in MODON Jeddah before March this year, and the Saudi Ministry of Industry and Mineral Resources planned the program together with the Japanese Ministry of Economy, Trade and Industry and organizations"...

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Appalachian State University Delegation Visits AURAK
January 28, 2020

A delegation from Appalachian State University (ASU) in the United States visited the American University of Ras Al Khaimah (AURAK) for a campus tour and discussions with the leadership on deepening their cooperation.

Sheri Everts, the Chancellor of Appalachian State University, led the ASU delegation. Professor Hassan Hamdan Al Alkim headed the AURAK contingent.

One"...

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Jazan’s coffee bean production expected to reach 300 tons in 2020
January 27, 2020

JAZAN: The seventh Coffee Beans Festival starts on Jan. 30, amid expectations that more than 300 tons of coffee beans will be produced and enter the Saudi market by the end of 2020 due to increased production in the Jazan mountains.
“This year’s festival is completely different in terms of activities, with more focus on displaying the local products of Saudi coffee bean farmers,” Dr. Mefarah Al-Malki, director of the festival, told Arab News....

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Saee raises $2.4 million in Series A round of funding
January 27, 2020

RIYADH — Saee, a Jeddah-based startup providing last-mile delivery through freelancers, announced Sunday the completion of a SR9 million ($2.4 million) Series A round of funding to fuel local expansion.

The round was led by Saudi Arabia-based Business Incubators and Accelerators Company (BIAC), TasHeel Holding and Abunayyan Holding’s investment arm “ABN Ventures.”

“The new funding will enable the introduction"...

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Non-oil sectors to boost Saudi economic growth in 2020
January 27, 2020

JEDDAH — A survey of nearly 440 senior accountancy experts on economic conditions in MESA showed a recovery in confidence in Q4. A revival in growth is likely to come mainly from the non-oil sector as the economy diversifies.

Detailed in the latest Global Economic Conditions Survey (GECS), jointly published by ACCA (the Association of Chartered Certified Accountants) and IMA (Institute of Management Accountants) the findings also point to mixed"...

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Saudi Arabia sees record year for foreign investment
January 27, 2020

A total of 1,131 new international companies set up operations in Saudi Arabia last year, marking a 54 per cent increase when compared to the 2018 figures and making 2019 a record year for the kingdom’s rapidly-developing business landscape.

The sharp uptick came by as a result of an accelerated effort by the Saudi Arabian General Investment Authority (Sagia) through the Invest Saudi brand to promote the Kingdom’s competitive and open business"...

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Sagia partners with United Nations to host Global FDI Summit in Riyadh
January 27, 2020

The Saudi Arabian General Investment Authority (Sagia), in partnership with the United Nations Conference on Trade and Development, will be hosting the Global FDI Summit in Riyadh in October.

The event comes as Saudi Arabia prepares to host the G20 summit this year.

“Saudi Arabia has seen highly encouraging"...

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WorldRemit Partners with Wizall Money to Launch its First Mobile Money Transfer Service to Senegal
January 27, 2020

Leading online money transfer company WorldRemit has joined forces with Wizall Money to launch its first mobile money transfer service to Senegal. WorldRemit saves the Senegalese community living abroad time and money as they do not have to visit a traditional money transfer agent and pay expensive fees to send money home. Instead, using the WorldRemit app or website, they can send funds online 24/7. The new partnership with Wizall Money enables WorldRemit customers in over 50 countries, including France, Spain and the USA, to send money home instantly to over 60 000 mobile money accounts in Senegal. Recipients can then store their funds, pay for bills or pay for goods in shops directly from their Wizall Money account. In addition to the new mobile money service, WorldRemit also offers bank transfer, cash pickup and mobile airtime top-up services to Senegal, so customers can choose the pay-out option that suits their receiver best. Estimates suggest that the......

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