3M inaugurates new state of the art office facility in Riyadh Technology major fortifies presence and expands operations across the Kingdom

In line with its long standing commitment to the Kingdom of Saudi Arabia (KSA), 3M, a recognized leader in research and development has announced the opening of a new and expansive office facility in Riyadh.

 

Located in the Business Gate, Cordoba District in Riyadh, 3M’s new office has been specifically designed to deliver the required technical and scientific training to customers across diverse industry sectors in Saudi Arabia. The Riyadh office inauguration follows the opening of 3M’s dedicated office in Jeddah, which serves as the scientific arm complimenting the research endeavors of the key 3M business unit portfolios.

 

Commenting on this milestone occasion, Osama Hammoudeh, Managing Director,3M Saudi Arabia said, “Saudi Arabia is one of the fastest growing geographies for 3M globally and we are committed to invest resources and share our technological expertise to provide our partners with tailored solutions based on years of technological innovation excellence. Our presence in Riyadh will facilitate the company’s rapidly growing business operations and will be a vital catalyst for achieving 3M’s strategic growth objectives for the region.”

 

3M, with its diversified product portfolio and 46 technology platforms has achieved significant milestones in the Middle East and Africa region. From providing passive and active fire protection solutions to key institutions, to addressing the emerging healthcare needs of the country and also encouraging the growth of the nations’ automotive industry with its state of the art nanotechnology films, 3M has been at the forefront for diverse industry sectors.

 

 

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Qatar, Kuwait, Bahrain and UAE Among Global Top Ten Countries by Proportion of Millionaire Households The Boston Consulting Group’s 2013 Global Wealth Report Reveals Strong Growth in Middle East and Africa

Wealth in the Middle East and Africa saw near-double-digit growth at 9.1 percent in 2012, according to according to The Boston Consulting Group’s (BCG) thirteenth annual global wealth management report.

 

In Maintaining Momentum in a Complex World: Global Wealth 2013, its thirteenth annual study of the global wealth-management industry, BCG addresses the current size of the market, the performance levels of leading institutions, and the state of offshore banking. The report also provides a thorough analysis of the key trends shaping the business landscape.

 

On a regional level, the report shows that private financial wealth in the Middle East and Africa (MEA) grew to $4.8 trillion in 2012, an increase of 9.1 percent from $4.4 trillion in 2011. Wealth held in equities in the MEA region grew by 18.3 percent in 2012, as compared to increases of 9.2 percent in bonds and 5.2 percent in cash and deposits.

 

“Qatar ranks first in the world with the highest density of millionaires, with 14.3 percent holding private wealth of at least $1 million. Kuwait ranks third with 11.5 percent, while Bahrain (4.9 percent) and the United Arab Emirates (4.0 percent) ranks seventh and ninth, respectively,” said Markus Massi, Partner and Managing Director at BCG Middle East. 

 

The report asserts that private wealth in MEA will grow to an estimated $6.5 trillion by the end of 2017, with a projected CAGR of 6.2 percent. This increase will largely be driven by new wealth creation linked to strong GDP expansion in oil-rich countries. 

 

“The growth of private wealth in the region has been largely driven by a buoyant GCC equity market and an improvement in the global equity markets overall. Additionally, the recovery of the local real estate markets has helped to free up additional liquidity for financial investments. Wealth held in equities saw strong growth in 2012, although individual markets in the GCC region posted sharply different results. The Dubai Financial Market (DFM) Index enjoyed growth of 19.9% and the Abu Dhabi Exchange (ADX) improved by 9.5%, while other GCC exchanges have seen moderate growth (6%  for Tadawul) or as low as 2% in the case of the Kuwait Stock Exchange (KSE),” Massi added.

 

The Middle East also ranks highly by ultra-high-net-worth (UHNW) households, defined as households with more than $100 million in private wealth. Qatar ranks fourth in the world, with 8 out of 100,000 households falling into this category. Kuwait ranks seventh and UAE comes in fifteenth with 7 and 3 households per 100,000 in this segment, respectively.

Globally, private financial wealth grew by 7.8 percent in 2012 to a total of $135.5 trillion. The rise was stronger than in 2011 and 2010, when global wealth grew by 3.6 percent and 7.3 percent.


The total number of millionaire households reached 13.8 million globally in 2012, or 0.9 percent of all households. The U.S. had the largest number of millionaire households (5.9 million) overall, followed by Japan (1.5 million) and China (1.3 million).  

 

“Globally, we anticipate that the affluent segment will continue to grow their assets. Over the next five years, wealth among households worth $5 million to $100 million will grow by a projected CAGR of 8.0 percent, while the ultra-high-net-worth segment is expected to see a CAGR of 9.2 percent,” Massi concluded.

 

 

Global Findings

 

Offshore Wealth. Offshore wealth, defined as assets booked in a country where the investor has no legal residence or tax domicile, rose by 6.1 percent in 2012 to $8.5 trillion. Despite this increase, stronger growth in onshore wealth led to a slight decline—to 6.3 percent from 6.4 percent, compared with 2011—in offshore wealth’s share of global private wealth. While offshore wealth is projected to rise modestly over the next five years, reaching $11.2 trillion by the end of 2017, wealth is increasingly moving onshore due to the intense pressure that tax authorities are exerting on offshore centers.  

 

Wealth Manager Benchmarking.BCG benchmarked the performance of more than 130 institutions from Western Europe, Eastern Europe, Asia-Pacific, North America, Latin America, and the Middle East. Globally, in 2012, wealth managers achieved 13 percent growth in assets under management (AuM) over the previous year. The growth was driven largely by the rebound in many equity markets during the second half of the year, but also by the generation of net new assets.

 

Key Trends. The report identifies numerous market-landscape trends, client trends, and business-economics trends that will shape the wealth management industry for the rest of the decade. These trends include the following:

 

·         The shift in wealth creation and profit pools toward developing economies

·         The decline of traditional value propositions

·         The rise in costs and complexity brought on by regulation

 

Action Steps. The report also identifies critical steps that wealth managers must take if they hope to achieve or maintain a leadership position throughout the rest of the decade. These steps include the following:

 

·         Building a presence in highgrowth markets and with high-net-worth client segments

·         Offering segmentspecific value propositions and embracing client centricity

·         Industrializing operations and striving for lean front-to-back business processes

 

A copy of the report can be downloaded at www.bcgperspectives.com.

 

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Top Saudi companies at this year’s transport logistic 2013 trade fair in Munich The world’s largest exhibition for transport and logistics took place in Munich from June 4–7, 2013.

The German-Saudi Arabian Liaison Office for Economic Affairs (AHK Saudi Arabia) organized the trip of a Business Delegation with 24 high ranking officials from top Saudi companies.

Saudi Ports Authority, Saudi Airlines Cargo Company and Four Winds Saudi Arabia Ltd. were exhibiting at the world’s largest exhibition for transport and logistics.

Sub exhibitors included International Port Services (IPS), SAS Cargo, Al-Jeri Transportation Company, Al-Jabri Logistics, Saudi Industrial Services Co. (SISCO) and Red Sea Gateway Container Terminal.

Part of the program was a meeting with the Federal Minister of Transport, Building and Urban Development, Dr. Peter  Ramsauer and a guided tour and meetings with selected German and Saudi Arabian exhibitors at the trade fair (Saudi Ports Authority, Four Winds Logistics, Saudi Airlines Cargo Company L.L.C., DHL, DB Schenker, Fraport Cargo Services, etc.).

The delegation was accompanied by the Delegate of German Industry for Saudi Arabia, Mr. Andreas Hergenröther and the Head of Trade Fair & Exportpromotion Mr. Al-Ameen Al-Dalali.

Transport Logistic is the world´s biggest trade fair for the multi-facetted industry of moving goods by road, rail, water and air. The fair´s portfolio covers logistics and freight transport, telematics and in-company transport and material flow. Integrated into transport logistic 2013 is Air Cargo Europe, an exhibition and conference for the global air cargo business taking place for the fifth time. The extensive conference program and the 6th Air Cargo Europe provided an expert overview of new markets, trends and innovations in the international transport and logistics industry.

Transport logistic 2013 featured product and system innovations for the professional, economical and sustainable solution of these complex demands in the area of intralogistics, warehouse management systems, automatic identification systems and packaging. The products and services presented by manufacturers and suppliers ranged from systems, technologies and components for storing, transporting, handling, picking, packing, transferring and distributing goods, as well as system control units, logistics IT systems and warehouse management systems.

In 2013 the show expanded again – and not only in terms of exhibition space, with the inclusion of an additional exhibition hall. It also had more exhibitors: the current total stands at over 1,950 companies from more than 60 countries. Many international market leaders were among those exhibiting at this premium platform, doing business and networking with an expected audience numbering in excess of 50,000 trade visitors.

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Arabian Centers Co. Ltd. hosts Guinness World Records Challenge Fair

For the first time in the Kingdom and exclusively for Arabian Centres Co. Ltd, a GUINNESS WORLD RECORDS ™Challenge Fair will be hosted in three of the kingdom’s most prominent malls.

The GUINNESS WORLD RECORDS Challenge fair will kick off during the summer under the slogan of “Summer Champions 2013”.

This must- attend road show will first roll out in Mall of Arabia- Jeddah on the 6th and 7th June 2013 followed by Mall of Dhahran –Khobar on the 13th and 14th June and finally closing in AlSalaam Mall- Jeddah on the 20th and 21st June 2013. 

The event brings a fun-filled, action-packed show that takes a peak at some the most incredible GUINNESS WORLDS RECORDS titles. Packed with facts and record-breaking information, the challenge fair also gives audiences the chance to attempt world records in front of an official GUINNESS WORLD RECORDS Adjudicator.

Fahad AlOtaibi, the Director of the Public Relation stated that” Arabian Centers is proud to organize such an exciting event for the first time in Saudi Arabia”. He also stressed that Arabian Centres will dedicate all its efforts in giving the audience a chance to show their talents and honor them for attempting to break new and existing GUINNESS WORLD RECORDS titles. AlOtaibi also mentioned this event is open to all public free of charge.

Arabian Centres Co. Ltd is a member of Fawaz AlHokair Group. ACCL is the region’s largest retail real estate company. As of December 2012, Arabian Centres lead the MENA region by owning 14 shopping centres in Saudi Arabia and Egypt with the largest GLA of 946,118 square meters and an annual footfall of approximately 110 million. ACCL current’s portfolio is valued at 1 Billion Saudi Arabian Riyals, yet these figures are ambitiously expected to double within the coming five years.

About Guinness World Records:

Guinness World Records (GWR) is the universally recognized global authority on record-breaking acheivements.  First published in 1955, the annual GUINNESS WORLD RECORDS™ book has gone on to become one of the biggest-selling copyright title of all time with sales of over 2.7 million copies a year.  Since its launch nearly 60 years ago over 130 million copies – including 400,000 ebooks – have been sold in 20 languages, in more than 100 countries.  The internationally renowned brand is also available across a number of platforms; GUINNESS WORLD RECORDS’ global television shows are watched by 750 million viewers annually, over 390,000 users subscribe to GWR’s two YouTube channels, with over 188 million views and 1.25 million fans on Facebook.  In 2013, Officially Amazing became the registered trademark of Guinness World Records Limited.

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“Renault”Launches anExcitingOfferfor the New “Fluence” in the Kingdom Car buyers can look forward to an incredible bargainin addition to a Samsung Galaxy S IV with every purchase.

Gulf Advantage Automobile (GAA) importer of Renault in the Kingdom, announced an exciting campaign for one of its top selling models– Renault Fluence. The promotional price of the Fluence is at an astonishing 56000 SAR and allcustomers purchasing the car during the campaign period willbe providedwith a Samsung Galaxy S4 mobile as a free gift. It is important to note that this offer is providedfor Renault’s esteemed clienteleuntil the 30th of June 2013. Likewise, clients can take advantage of this exciting promotion at Renault showrooms across all KSA.

GAA aims with the launch of this promotional campaign to compliment the new Renault vehicle with an added value that perfectly matches the needs of every customer. Fluence has become synonymous with quality, durability and performance. With the new generation, there is a growing buzz and excitement around the Renault range as the Fluence is a generously-dimensioned saloon car. Its nicely balanced proportions, fluid and elegant lines sweeping over broad shoulders denote a powerful presence.

TheFluence offers as well a range of powerplantsthat have been developed by the Renault-Nissan alliance to meet customer expectations in the different markets where the model will be sold. They all combine fuel efficiency with driving enjoyment.The new 1.6 16V 112 HP CVT

 X-Tronic Automatic gearbox and The 2.0 16V 143 HP CVT X-Tronic Automatic gearboxes.

The new Renault Fluence builds on the quality and safety standards of its predecessor. Reliability and durability have been the focus of detailed design work, guaranteed with extreme endurance testing, to meet the specific needs of the GCC markets.

From its entry level model, New Renault Fluence offers ABS with electronic brake force distribution EBD, emergency brake assist BA, three-point front safety belts with pretensioners and load limiters, driver and front passenger airbags, three-point Isofix child seat anchorage for the outer rear seats and projector headlights available as standard, safety key features such as stability control (ESP) with under steer control, front side curtains airbags airbags, as well as front and rear.

Renault Fluence is an attractive, well-proportioned saloon that is a perfect fit for Saudi Arabia. It has enjoyed a very positive response since its launch in July 2010 in the Gulf. In 2012, it ranked number one European car in the C segment and came in the Top 10 best-selling European cars in all segments combined in the GCC markets.It was entirely designed and built to provide clients with an exhilarating and unforgettable driving experience.

The New Fluence also offers a range of driver-assistance technologies, including the hands-free key card for no-touch locking and unlocking of doors, as well as Start-Stop engine button.Another intelligent feature is the automatic parking brake, which applies itself as soon as the ignition is turned off and released once the engine is running again.

Renault enjoysmore than 114 years of experiencein the automotive industry. It is not only considered to be one of the leading brands in the world but also a leader in automotive safety and security. It is the only car manufacturer that achieved ‘five stars’ rating for twelve of its cars from EuroNCAP – an independent organization that administers safety tests to the automotive industry. 

In the Kingdom, Gulf Advantage Automobiles is committed to supporting Renault’s growth through emphasis on customer satisfaction and by providing world-class after sales services. With a wide range of sales and service networks spread out across the Kingdom, GAA has further built upon its legacy of trust, excellent customer service and providing value for money to every one of its customers.

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Hybrid security solutions provide the most effective protection, but only 21% of companies worldwide use them

Cloud technologies are an important element of modern security solutions, but cannot protect computers without the support of local security tools. So the best way is to use hybrid solutions that incorporate local anti-malware technologies and simultaneously interact with a cloud service. However, such solutions are chosen by just 21% of companies, according to a study conducted by Kaspersky Lab in collaboration with B2B International’s researchers at the end of 2012.

Today, the amount of malware is increasing exponentially: about 140 new threats appear every minute. It is already impossible to overcome them simply by using the traditional signature search method – new threats are emerging too fast for even regular updates to stay one step ahead. That is why security solution developers are working on combining proactive and cloud technologies. The former help detect unknown threats: the latter deliver protection from new threats as fast as possible. There are further security solutions based only on cloud technologies, but these cannot provide reliable protection against complex threats, including zero-days. And such solutions cannot work efficiently without a stable Internet connection.

Clearly, the way forward is to use hybrid solutions which combine local technologies, reactive and proactive, with cloud service functions. Such solutions are most popular in large enterprises – 29% surveyed corporations of this size use hybrid security. Sadly, however, these solutions remain unpopular among other companies. According to a B2B International survey in November 2012, only 21% of companies surveyed use them. Most respondents (51%) prefer local solutions with no cloud assistance, and another 20% choose cloud security tools.

Kaspersky Lab’s hybrid solution

Kaspersky Lab experts are sure that only hybrid solutions can provide the best protection against cyber-threats. That is why Kaspersky Lab was one of the first companies to add a cloud-based technology – Kaspersky Security Network – to its products for home and corporate users. With the user’s consent, the technology collects anonymous data about infection attempts from computers running Kaspersky Lab security solutions and sends this information to its specialists for detailed incident analysis. After taking proper measures for user protection, such as adding a malicious website to a blacklist, creating signatures, etc., the updates for security tools and antivirus databases are transferred to all Kaspersky Lab products via the Kaspersky Security Network.

The new platform for corporate users, Kaspersky Endpoint Security for Business, also interacts closely with Kaspersky Security Network. The platform’s components collect data about new malware, dangerous websites and spam outbreaks, form white- and blacklists of applications, add to the database of vulnerabilities, etc. All necessary updates are downloaded to user computers just a few seconds after being checked by Kaspersky Lab experts. The results is a corporate security solution that provides efficient and, importantly, urgent protection against cyber-threats.

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Amadeus Saudi Arabia strengthened partnerships with region’s key travel agencies Reaffirms position as a leading technology partner to Saudi Arabia’s tourism industry

Amadeus Saudi Arabia has renewed partnerships with some of Saudi Arabia’s most prominent travel agencies including Al Theyab Travel & Tourism, Portfolio Travel, Al Ghazal Travel Agency and National Alia Travel and Tourism Co, Amadeus Saudi Arabia reinforced its position as a leading technology partner to the region’s travel and tourism industry.

Under the renewed agreements, Amadeus customers will enjoy enhanced access to Amadeus’ vast portfolio of technology solutions as well as a range of air content, benefitting particularly from Amadeus’ partnership with the Arab Air Carriers Organisation (AACO). The partnerships will also enable Amadeus to support the growth of Saudi Arabia’s online travel sector through providing travel players access to its range of online solutions, web based services and state-of-the-art web booking interface.

Commenting on the partnership, Ahmed Talib Al Ghazal, General Manager, Al Ghazal Travel Agency, said: “Working with a professional and strong technology partner is essential in order for any travel agency to be able to focus on its core business objectives vis-à-vis saving time and cost, improving productivity and better servicing customers to ensure their loyalty. I have no doubt that our partnership with a leading content aggregator like Amadeus will enable us to improve our business and enhance our customer portfolio.”

Amadeus also signed partnership agreements with eBreeze Travels/Flyin.com to provide web services that will assist the organisation with online bookings both, air and non-air. eBreeze Travels / Flyin.com is one of Saudi Arabia’s travel agencies that is committed to consistently evolving the online travel business and developing web portals for customers across the Middle East region.

Faisal Alhomaidhi, Vice President, eBreeze Travels/Flyin.com, said: “We enjoy a solid and established relationship with Amadeus and consider them as one of the main players in technology development in the region. With more and more travelers looking online to book travel online, Amadeus’ web-based solutions and services will enable us to cater to the specific needs of these customers. Our partnership effectively compliments our efforts to boost the online travel sector in Saudi Arabia”

The partnerships came on the back of Amadeus’ participation at Arabian Travel Market (ATM), the Middle East’s largest travel trade exhibition that ran in Dubai earlier this month. Amadeus’ presence at ATM reflected its continuous efforts to support its travel agency customers in adapting to new strategies that meet the requirements of a fast-advancing local tourism industry that is expected to reach US$11.4 billion by 2014. Further, it aimed at empowering agents to transform the way they operate by selecting the right solutions that ensure a competitive and successful business.

Nashat Bukhari,General Manager, Amadeus Saudi Arabia, said: “Our participation at Arabian Travel Market and the resulting partnership agreements have reinforced our commitment to providing high standards of local expertise, customer service and technology solutions to the Saudi Arabian travel and tourism industry. I am confident that our travel agency partners will further benefit from the Amadeus portfolio of solutions, empowering them to further grow their business and establish themselves as key players in an increasingly competitive environment.”

With world-class products and solutions coupled with investment in research and development to enhance the travel industry’s technology solutions, Amadeus has established itself as a leading player in the region. The company is currently present in the MENA region through 17 local Amadeus Commercial Organizations (ACOs) servicing 21 countries.

 

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Alef Media appoints new sales director and develops one-stop shop for international media solutions

Regional marketing communications and media group, Alef International, has appointed Rita Daniel as Sales Director.

Based at Alef’s Dubai office in Media City she will be overseeing Alef’s sales teams in its Riyadh headquarters and its Beirut office. Before joining Alef, Rita managed media buying in Optimedia Beirut, and has a great deal of experience working in the media sector in Dubai.

She said: “I am delighted to be joining Alef at such an exciting time in the company’s development. I look forward to working with our established media partners, and, with the help of Alef’s international expertise and experience, of adding to our growing client list.”

Rita’s appointment is a key part of Alef’s strategy of further developing its international capability. It now offers clients and media-buying agencies a ‘one-stop shop’, providing access to a wider range of international media partners than ever before, including in America, Europe and traditionally challenging markets such as Asia and Africa.

Rabih El Amine, CEO of Alef said: “Our expanded network now offers access to media partners in Europe, North America, Africa and Asia, offering buying agencies a one-stop shop. We believe our service offering would be particularly beneficial to media companies who don’t have a presence in the region.

“Alef’s operations in Saudi Arabia, Dubai and the Levant are a strong combination that provides our clients and our represented media owners a service level unique in the region.”

Together with its international media representation network – which includes stellar names such as The Guardian, the Economist, the Wall Street Journal and the world’s fastest growing weekly business magazine, The Week – Alef  provides a full service PR offering and publishes a number of regional business magazines, including leading travel and tourism title, Saudi Voyager.

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EMC to Host Public Sector Mega Workshop in Saudi Arabia Region’s first Arabic event aimed at addressing the needs of the public sector

EMC today announced the launching of the first Arabic Public Sector Mega Workshop being held at the Intercontinental Hotel in Riyadh, Saudi Arabia.

The one day event is slated to bring together an audience of over 100 IT professionals including IT managers, infrastructure managers and data center engineers working across key government entities in the kingdom to share best practices and transformational ideas to address challenges unique to IT in the public sector.

In recent years, the government of Saudi Arabia has invested in a number of e-government and public key infrastructure (PKI) projects to enhance citizen services and drive socioeconomic development. Set against the backdrop of increasing IT investments in the country, which is driven primarily by the public sector, the Mega Workshop is designed to increase the public sector’s knowledge and awareness of IT solutions and best-practices available to their organizations today to enhance their customer experience.

The workshop will feature two independent tracks; the first will be focused on business continuity and the second on cloud computing and virtualization to help IT professionals in the public sector effectively leverage leading EMC technologies to achieve their IT transformation goals and enhance online service delivery for citizens and expats.

According to experts, virtualization technologies, particularly desktop virtualization and cloud computing, continue to climb up the investment agendas for public sector due to their benefits which enable resource and information sharing to drive performance and efficiencies while lowering operational costs. This in turn is driving the need for enterprises to invest in robust business continuity and disaster recovery technologies to safeguard critical national information to ensure an undisrupted service delivery as well as continuous availability to critical applications such as e-payment gateways or other online services.

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Bridging the Gap: First Saudi Women Trainees Graduate from Nestlé Programme Young Saudi women complete first female-only training programme to provide skills towards joining multinational companies

The Nestlé Centre of Excellence programmes graduated its first batch of Saudi women trainees in Jeddah, Saudi Arabia. A successful conclusion to a four-week programme for female university graduates which started in March 2013.

The 15 participants undertook different training modules within the programme such as project management, finance for non-finance, business etiquette and advanced Microsoft office. In addition trainees collected practice in a real working environment by joining business teams as part of theiron the job training to put their skills into practice within different departments at Nestlé Saudi Arabia.

The new graduates received their graduation certificates on May 19th, 2013. On the occasion of the graduation ceremony Yves Manghardt, Chairman & CEO Nestlé Middle East, said: “The Nestlé Centre of Excellence is  part of Nestlé’s  “Creating Shared Value” initiatives that we established in Saudi Arabia last year. Its mission is to train Saudi graduates up to multinational standards in different fields. 

Nestlé Saudi Arabia Country Manager Roger Meguerdichian stated: This programme is the fourth pillar of the Nestlé Centre of Excellence. We started with the Nutrition Development Programme, Graduate Development Programme, Sales Training Academy. Today with the Business Executive Programme we are graduating a new batch of ladies capable to assume different roles within the company. So far a third of trainees are being offered a position in various departments within Nestlé Saudi Arabia.

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