Month: July 2014

«Saudi Banks» Launches Program to Educate Youth on Personal Data Privacy

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Reading time: < 1 MinuteTo deepen young people’s understanding of banking transactions and the protection of personal information, Saudi banks organized a special awareness event and an educational program for children as part of the activities of their mobile awareness center on financial and banking fraud. which included a number of tips and instructions tailored to the level of understanding of children aged 4 to 11, with the aim of alerting them to exercise greater caution and care regarding not … Read more

The majority of Gulf markets rose. «Real Estate» pushes the Dubai Stock Exchange down

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Reading time: 5 MinutesPositive sentiment and gains dominated regional indices during yesterday’s trading session, as the Dubai Market General Index fell 0.24% to close at 4,667.58 points, driven by pressure from the real estate sector, while the Saudi Stock Exchange’s general index rose 1.37 percent to close at 10,162.37 points, supported by the petrochemical sector. … Read more

Saudi Arabia's fertilizer industry outlook is optimistic

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Reading time: 2 MinutesThe fertilizer industry in Saudi Arabia tops the list of fertilizer-producing countries in the region, Abdulwahab Al-Saadoun, Secretary General of the Gulf Petrochemicals and Chemicals Association (GPCA), confirmed that the sector «is currently moving toward a new phase of growth in terms of production and product diversification.» He said in a GPC report on fertilizer sector indicators in the Gulf Cooperation Council (GCC) region … Read more

Moves between rental homes in Saudi Arabia lead the real estate market during Ramadan

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Reading time: 4 MinutesThe arrival of the holy month of Ramadan has further dampened the already subdued Saudi real estate sector, as the holy month has contributed to a slowdown in the local real estate market, pushing it to new lows. However, the residential rental sector managed to escape this trend and soar in comparison to the real estate segments with the highest demand and activity, following a near-standstill in sales and purchases … Read more

GCC Credit Information Exchange. guarantee

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Reading time: 2 MinutesThe issue of credit information sharing among Gulf Cooperation Council (GCC) countries remains central, although it is still in the process of being approved and subsequently implemented. The sooner these countries reach a common framework in this area, the more they will ensure high-quality banking performance across the Gulf, and this will also strengthen the mechanisms that provide banking “security” for institutions … Read more

Advocating for Positive Banking to solve the housing crisis

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Reading time: 3 MinutesEngineer Riyad Al-Rabiah, Vice Chairman of the Board of Directors and Managing Director of Saudi Pipe Company, presented a method of interest-free banking he called the ”positive approach” during a plenary session yesterday as part of the Al-Baraka Islamic Banking Symposium. Al-Rabiah told “Al-Eqtisadiah” that the initiative he proposed could resolve the housing crisis and help citizens own homes without incurring additional debt that would haunt them… Read more

Announcement from the Capital Market Authority regarding the rules governing the investment of qualified foreign financial institutions in listed shares

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Reading time: < 1 MinuteHis Excellency the Chairman of the Authority expressed his deepest gratitude and appreciation to the Custodian of the Two Holy Mosques, the Prime Minister; His Royal Highness the Crown Prince, Deputy Prime Minister; His Royal Highness the Second Deputy Crown Prince, Second Deputy Prime Minister; and the Council of Ministers on the occasion of the Council of Ministers’ approval of the Capital Market Authority’s —at a time it deems appropriate—to open the market to financial institutions… Read more

Announcement from the Capital Market Authority regarding a decision by the Securities Disputes Appeals Committee convicting a violator of the Capital Market Law and its implementing regulations

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Reading time: < 1 MinuteThe Capital Market Authority announces the issuance of a decision by the Securities Disputes Appeals Committee on 04/09/1435 AH, corresponding to 01/07/2014 AD, in the case filed by the Capital Market Authority against Hamad bin Abdulwahab bin Muhammad Al-Abdulwahab (the defendant), which upheld the decision issued by the Securities Disputes Resolution Committee convicting the defendant of violating Article 49 … Read more

«Muthamra Real Estate sells all its stakes and assets to Al Tayyar Group for SAR 850 million

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Reading time: 3 MinutesAl-Tayyar Travel Group Holding acquired 100% of the shares in Muthamara Real Estate Investment Company, which specializes in real estate development and the construction of hotels and residential units in Makkah, after agreeing to purchase the remaining shares of its assets for a total of 850 million riyals, in line with its strategic plan to expand its Hajj and Umrah services in Makkah through partnerships … Read more

Stable performance of the real estate market as demand for residential land continues

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Reading time: 2 MinutesThe real estate market continued to generate weekly transactions ranging between 9 and 10 billion riyals... Transactions in the residential sector accounted for the bulk of the real estate market’s performance during this period. Demand for residential land has led overall demand in recent weeks, as the additional loan allocated for land has boosted demand for residential land among applicants to the Real Estate Fund. On the other hand, the problem of … Read more

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