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Sep 2
JEDDAH – Advertising expenditure in the first six months of this year increased by 23.6 percent to reach $3.77 billion compared to $3.05 billion for the same period last year.
The Pan Arab media share, mainly satellite TV, saored 24 percent to $1.57 billion, Pan Arab Research Centre (PARC) said.
According to Arabian PR managing director Walid Karanouh, based on recent industry report, Saudi Arabia is one of the major advertising and PR markets in the Gulf region. The GCC media share was $1.7 billion for newspapers and $1.6 billion for TV, he added, citing the report.
Tagged as: advertising activities, Al Muqla, Arab Research Centre, Arabian PR, Bahrain;, board member, chairman, Egypt;, GCC;, Gulf Marcom Group, International Advertising Association, JEDDAH, Jordan;, Khamis Al-Muqla, Kuwait;, Lebanon;, managing director, media share, Oman, PR, print media;, Qatar;, satellite TV;, Saudi Arabia, UAE;, USD;, Walid Karanouh -
Petchems send Saudi bourse to 2-week high
Filed under NewsSep 2JEDDAH – Petrochemicals sent Saudi Arabias stock benchmark Tadawul All Share Index (TASI) to a two-week high on Wednesday, rising 0.86 percent to 6,158.99 points, tracking rising oil prices. But volumes may be too low for these gains to signal the start of a more sustained rally.
Benchmark US crude oil futures for October rose $1.99, or about 2.8 percent to settle at $73.91 a barrel.
Tagged as: Abu Dhabi National Energy Co., Al-Rajhi Bank;, Bahrain;, Chief Executive, crude oil futures, Doha Bank, Dubai;, Egypt;, head, head of MENA equity desk, JEDDAH, Kuwait;, MIddle East;, mobile operator, Musa Haddad, National Bank of Abu Dhabi, oil prices;, Oman, Orascom Telecom, Qatar National Bank, Qatar;, Ramadan;, Reuters;, Riyadh, Saleh al-Onazi, Samba Financial Group;, Saudi Basic Industries Corp.;, sector leader, Swicorp, telecoms, United States;, USD;, vice-president of principal investment, Vimpelcom Ltd, Wind -
MA value in MENA drops 15 in H1 2010
Filed under NewsSep 1JEDDAH – Total value of mergers & acquisitions (M&A) in the Middle East and North Africa (MENA) region in the first half of 2010 dropped by approximately 15 percent to $18.5 billion, compared to deals worth $21.7 billion announced in H1 2009, Ernst & Young said on Tuesday.
Compared to the previous quarter (Q1 2010), Q2 2010 saw an increase of 85 percent in total announced deal value which is up from S$6.5 billion to $12 billion. In terms of total number of deals, there was a 12 percent decline between quarters, from 76 deals in Q1 2010 to 67 deals in Q2 2010.
Tagged as: Egypt;, Ernst & Young, head, head of Transaction Advisory Services, JEDDAH, Jordan;, Kuwait;, MIddle East;, North Africa, Oman, Phil Gandier, Saudi Arabia, SGD, UAE;, USD; -
Aug 30
RIYADH – Frequent power outages is not a measure of bad service, Abdullah Al-Hussayyen, Minister of Water and Electricity, said Sunday.
The minister said there are international criteria to evaluate the service and reasons for the numerous power outages, such as problems with contractors and generators catching fire, are beyond the companys control. “I agree that a continuous power supply is an important matter, but its continuity without any cut-off is impossible,” the minister said.
Water services are effective, he added, and will continue to improve.
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Prince Salman leaves US after treatment
Filed under NewsAug 30RIYADH: Riyadh Gov. Prince Salman left the United States Monday morning after undergoing successful spinal surgery at a US hospital on Aug. 16, an official statement said.
“On the recommendation of the medical team treating him, Prince Salman will rest for a few days outside the Kingdom for recuperation,” said the statement carried by the Saudi Press Agency.
Prince Salman left the hospital last week and received telephone calls from a number of Arab leaders, including President Hosni Mubarak of Egypt and President Omar Bashir of Sudan.
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Salman receives call from Bashir
Filed under NewsAug 28RIYADH: Riyadh Gov. Prince Salman on Saturday received a telephone call from Sudanese President Omar Bashir, who inquired about his health.
Prince Salman had undergone a successful spinal operation in a hospital in the United States on Aug. 16. He left the hospital last week.
Prince Salman received similar calls from Egyptian President Hosni Mubarak and Chairman of Kuwaits National Assembly Jassem Al-Khorafi.
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Aug 26
JEDDAH – Demand for gold will remain robust during 2010 as a result of accelerating demand from India and China, as well as increasing global investment demand driven by continuing uncertainty over public debt and economic recovery, the World Gold Council (WGC) said in a new report on Wednesday.
According to the WGCs Gold Demand Trends report for Q2 2010, demand for gold for the rest of 2010 will be underpinned by the following market forces:
Tagged as: Ajay Mitra, Bank of China, chief driver, China;, CNY, consumer electronics, corporate information technology, Egypt;, Electronics demand, electronics segment, Europe;, IDR, India;, Indonesia;, industrial and dental applications, Investment, Japan, JEDDAH, managing director, Marcus Grubb, MIddle East;, mobile phones;, retail investment, retail investor demand, Rs, Saudi Arabia, semiconductors, South Korea;, Thailand, Turkey;, UAE;, United States;, USD;, World Gold Council -
Okaz souk winners announced
Filed under NewsAug 25JEDDAH: Makkah Gov. Prince Khaled Al-Faisal on Tuesday announced the winners of Okaz souk prizes. Seven individuals from five countries will receive prizes worth SR700,000 this year. Poet Shouki Bazie Mustafa of Lebanon won the top prize valued at SR300,000. He will be given the title of Okaz poet after the Arab poetry medal is conferred on him.
Naji bin Ali Haraba won the Okaz youth poet award worth SR100,000. This award is given to young Saudi poets and poetesses, organizers said.
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IDB to sell 1 billion Sukuk
Filed under NewsAug 25JEDDAH/KUALA LUMPUR – The Islamic Development Bank (IDB) plans to sell $1 billion of Islamic bonds to fund development projects in its member countries, Vice President Abdul Aziz Al Hinai said on Tuesday.
The five-, seven- and 10-year Sukuk, part of the IDBs $3.5 billion Medium-Term Note program, will be issued in the fourth quarter and listed in London and Kuala Lumpur, Al Hinai told reporters in the Malaysian capital after registering a separate ringgit issuance on the local exchange. CIMB Group Holdings Bhd. and four international banks will manage the sale, he said.
Tagged as: Abdul Aziz Al-Hinai, Asia;, average oil prices, Badlisyah Abdul Ghani, bank;, Cagamas Bhd., CIMB Group Holdings Bhd., director of Treasury, Dubai;, Duet Mena Ltd., Egypt;, executive director, Fahad Alsudairy, finance transactions, finance;, Frances BNP Paribas Investment Partners, General Electric Capital Corp., Gulf Cooperation Council;, head, head of CIMBs Islamic banking unit, Hishamuddin Sohaimi, HSBC, Indonesia;, Islamic Development Bank, JEDDAH, JPMorgan Chase & Co., KFH, KFH Research Limited, Khazanah Nasional Bhd, Kuala Lumpur;, LONDON;, Malaysia;, Malaysias, MIddle East;, Moodys, Moodys Investors Service, MYR, NASDAQ Dubai Sovereign US Dollar Sukuk, Nasdaq Dubai US Dollar Sukuk, Nomura Holdings Inc., oil exporters, oil exporting countries;, oil prices;, oil revenue shore, Saudi Arabia, Saudi Electricity Co., SGD, sovereign ratings analyst, Tristan Cooper, Turkey;, USD;, vice president -
Okaz souk winners announced
Filed under NewsAug 25JEDDAH: Makkah Gov. Prince Khaled Al-Faisal on Tuesday announced the winners of Okaz souk prizes. Seven individuals from five countries will receive prizes worth SR700,000 this year. Poet Shouki Bazie Mustafa of Lebanon won the top prize valued at SR300,000. He will be given the title of Okaz poet after the Arab poetry medal is conferred on him.
Naji bin Ali Haraba won the Okaz youth poet award worth SR100,000. This award is given to young Saudi poets and poetesses, organizers said.
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