Month: June 2013

18,000 deals and 1,600 companies: Mergers and acquisitions add more value in 2013

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Reading time: 3 MinutesWashington—News Agencies: The results of a new global study conducted by Bain & Company, titled “The M&A Rebound,” which spanned 11 years and covered 18,,000 transactions and 1,600 companies, have revealed that mergers and acquisitions (M&A) generate greater value when executed correctly and with a repeatable model based on a comprehensive set of M&A capabilities. … Read more

“Housing” explains the details of its current and future strategy

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Reading time: 3 MinutesRiyadh—Amlak: The Ministry of Housing clarified that the land plots to be allocated to citizens will range from 415 to 500 square meters, in accordance with the plans the ministry has been working on, noting that the plots it has available are “municipal” grants, which cover an area of 600 square meters. This was announced during a meeting between the Shura Council’s Committee on Housing, Water, and Public Services and Deputy Minister of Housing Abbas Hadi, as well as the Undersecretary for Land Affairs, Engineer … Read more

Worth 9.9 billion riyals : More than 130 loans approved by the Industrial Development Fund last year

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Reading time: 2 MinutesRiyadh – SPA During the fiscal year 1433/1434 AH, the Saudi Industrial Development Fund approved approximately 136 loans, an increase of 15% over the number of loans it approved during the previous fiscal year, with total approvals amounting to 9.940 million riyals—the highest annual total since the Fund’s establishment in 1394 AH. The amounts disbursed also reached … Read more

The construction of a residential neighborhood for employees in the holy capital is unveiled

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Reading time: < 1 MinuteMecca—Amlak: With the aim of providing comfortable and suitable housing for citizens, the Mayor of the Holy City and Chairman of the Board of Directors of Al-Balad Al-Amin Company, Dr. Osama bin Fadl Al-Bar, recently announced an agreement to build an integrated residential suburb with Diyar Al-Balad, a national Emirati company, on a total area of 519,017 square meters. This project is among the leading urban development initiatives in the Western Gate Development Zone… Read more

Mortgage and Takaful boost insurance sector profits

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Reading time: 2 MinutesRiyadh—Amlak: The adoption of the mortgage system generally led to a 20% increase in underwritten insurance premiums in the Saudi market during the first quarter of this year, reaching 6.9 billion riyals compared to the same period in 2012, However, despite this, operating insurance companies recorded a decline in their consolidated profits, falling into the red with a loss of … Read more

Due to its tourist nature: Taif is the capital of Arab resorts for 2013

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Reading time: < 1 MinuteDr. Bandar bin Fahd Al-Fahid, President of the Arab Tourism Organization, announced the selection of Taif as the Arab Summer Capital for 2013. At a recent press conference held at the Taif InterContinental Hotel in the presence of Taif Governor Fahd bin Abdulaziz Al-Ma’mar, he explained that Taif has hosted numerous international agreements and conferences in various fields over the past few years, in addition to cultural and tourism festivals, which… Read more

Saudi Arabia ranks first in comprehensiveness of travel and tourism data

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Reading time: < 1 MinuteRiyadh – SPA The Kingdom ranked first among 140 countries in the “Annual Travel and Tourism Competitiveness Index” as part of the 2013 Travel and Tourism Competitiveness Index for the second consecutive year. This was according to the results of the 2013 Travel and Tourism Competitiveness Index, recently announced by the World Economic Forum (WEF)—affiliated with the United Nations World Tourism Organization (UNWTO). … Read more

Many projects have been stalled for more than 15 years

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Reading time: 2 MinutesRiyadh—Agencies: The construction and real estate sectors are facing several problems that are causing some projects to stall, Dr. Tawfiq bin Abdulaziz Al-Suwailem, Director of Dar Al-Khaleej for Economic Research and Consulting, emphasized that the stalling of some of the state’s development projects constitutes a national loss that has many negative consequences for the country and its citizens, These projects consist of facilities and services provided by the state—may God bless it—to society for its development… Read more

In the 2013 Megacities Competitiveness List: Riyadh ranks 87th globally and sixth in the Arab world

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Reading time: < 1 MinuteRiyadh-Agencies: Riyadh ranked 87th globally and sixth in the Arab world on the 2013 list of the world’s most competitive major cities, compiled by The Economist Intelligence Unit in collaboration with Citibank, titled “Hotspots and Future Competitiveness of Cities Through 2025.” The Emirate of Dubai ranked first in the Arab world and 23rd globally, followed by Doha in second place … Read more

Saudi Arabia to spend $766 billion on infrastructure projects

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Reading time: 2 MinutesRiyadh-Agencies: The value of ongoing projects in the Kingdom stands at $766.77 billion, according to data from Zawya Economics on projects, which are estimated at approximately $2.54 trillion and are either in the design, tender, or construction phases in the Gulf Cooperation Council (GCC) countries. The United Arab Emirates continues to lead with ongoing projects valued at $903.05 billion, followed by the Kingdom, and then Qatar … Read more

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