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Sep 3
MAKKAH – A total of 952 student graduates from the Quran Memorization Charitable Society in Makkah, along with its former chairman, the late Ahmad Muhammad Salaah Jamjoum, and teachers of more than 25 years, were honored at the Grand Mosque, Tuesday.
Dr. Abdul Aziz Al-Khudairi, Undersecretary of the Makkah Emirs Office, who attended the event, said the Central Haj Committee is currently studying plans to ensure that the recitation of the Holy Quran during Taraweeh starts and finishes at the same time at all mosques in the country. He said this study is taking place with the cooperation of the Ministry of Islamic Affairs, Endowments, Call and Guidance.
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Sep 3
JEDDAH – Nazir Chughtai arrived in the Kingdom from his hometown in Pakistan in early 1977. Having spent more than three decades with his family in the Kingdom, he reminisces about the time when the souq hadnt been replaced by malls, the Saudi nationality was up for grabs, and performing Umrah in Ramadan took less than an hour.
He begins his story of yore by mentioning the insignificant proportion of expatriates in the Kingdom and the even more negligible number of malls and hypermarkets in the cities. Times were so different that the Saudi nationals would address Pakistanis as “doctors and engineers” as a mark of respect.
Tagged as: food items, food varieties, JEDDAH, Masjid Al-Haram, Nazir Chughtai, Pakistan;, Ramadan;, Saudi Arabia -
GCC banks profits plummet 5pc in Q2
Filed under NewsSep 3JEDDAH – The aggregate profits of the GCC sector posted a decline of 5 percent year on year (YoY) and 10 percent quarter on quarter (QoQ) in 2Q10, Kuwait-based Global Investment House said Wednesday.
Poor bottom-line performance was exhibited by UAE banks that declined by 30 percent YoY with a further dampening act coming from Saudi banks which were down by 7 percent YoY. Being heavyweights within the GCC banking universe, profitability (2Q10 profit share of 19 percent and 46 percent respectively), banks indigenous to these two countries led the slide in overall profitability of the GCC aggregate, while those from the remaining countries fared much better. Banking sectors of Oman and Kuwait earned the spotlight with growth of 40 percent YoY and 34 percent YoY respectively.
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Sep 3
JEDDAH – The Middle East has more than double the interest and double the ownership of 3D TVs than anywhere else in the world, a recent Nielsen report said.
In a specially designed index, Saudi Arabia recorded a higher score than any other country, with the UAE coming in at tenth place out of 52 nations.
The results were divided into markets made up of: Middle East, Africa, and Pakistan; Latin America; Asia Pacific; North America; and Europe. The online “How We Watch” survey took into account the responses from 27,665 participants aged 15 years and upwards. The highest 3D ownership or definite interest in ownership was among 25-29 year olds.
Tagged as: 3D TV, Abu Dhabi Police, Africa;, Al Ghanim, Amazon, AMD, Asia-Pacific, Avaya, Cisco, consumer electronics brands, Director, Dubai International Convention and Exhibition Centre, Dubai Municipality, Europe;, Ford, Fujitsu, Gitex, Gitex Consumer Electronics, ground-breaking 3D solutions, Hitachi, IBM, iSuppli, JEDDAH, Latin America;, managing director, Microsoft, MIddle East;, Ministry of Education;, Netapp, North America, Oracle, Pakistan;, Panasonic, Panasonic Marketing Middle East, path-breaking technology, Pocket Global, Saudi Arabia, Seiji Koyanagi, SVP, Symantec, technology adoption landscape, technology market research, Telecoms Regulatory Authority, Transport Authority, Trixee Loh, UAE;, United States;, USD;, World Trade Centre -
Sep 2
JEDDAH – Nabatt, an exhibition of over 130 works by 23 Saudi contemporary artists will be held from Sept. 11 to Oct. 31 in Shanghai sponsored by the Saudi Arabian Pavilion at Shanghai 2010, the King Abdulaziz Center for World Culture at Saudi Aramco and supported by the Saudi Ministry of Culture and Information.
The grand opening of the exhibition will be held on Sept. 10 at the Shanghai Duolun Museum of Modern Art, the first professional modern museum of contemporary art in China, which serves as a platform for the international exchange of contemporary art.
Tagged as: Abdulaziz Ashour, Abdullatif A. Al-Shaikh, Ahmad Al-Mayman, and cultural mediator, Arabian Peninsula, art consultant, artist, Asia;, Ayman Yossri Daydban, Aziz Dia, Bakr Shaykhoon, Bandar Al-Rumaih, British Museum, Brunei Gallery, China;, Cube Arts, curator, exhibition coordinator, Fahad Al-Gethami, Fahad Al-Hajailan, Farouk Kondakji, independent curator, JEDDAH, King Abdulaziz Center for World Culture, lecturer, LONDON;, Lulwah Al-Homoud, Maha Malluh, Mohammad Al-Ajlan, Mohammad Al-Ghamdi, Mohammad Farea, Mohammad Wasil, Mustapha Al-Arab, Nasser Al-Turki, Noha Al-Sharif, Princess, Raja Alem, Reem Al-Faisal, Saudi Arabia, Saudi Arabian Pavilion, Saudi Gazette, Saudi Ministry of Culture and Information, SEOUL, Shadia Alem, Shanghai, Shanghai Duolun Museum of Modern Art -
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 -
Sep 2
MUSCAT – Nawras, the phone company controlled by Qatar Telecom QSC, plans to sell 40 percent of its shares in Omans first initial public offering in two years.
Nawras will offer 260 million shares at a nominal price of 100 baisas through a one-month book-building process starting Sept. 15, Chief Executive Officer Ross Cormack said on Wednesday. The company will provide a price range on Sept. 7.
Middle Eastern companies delayed share sales as regional economies recovered from the impact of the worst global recession since the Great Depression. Omans last initial public offering was in August 2008 when Sohar Power Co. sold shares. Omans benchmark MSM30 Index has lost 35 percent in the past two years. Nawras share sale is the seventh in Gulf Arab countries this year after six from Saudi Arabia.
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GCC equity funds lose momentum during Q2
Filed under NewsSep 2JEDDAH – The equity funds registered for sale in the GCC region lost momentum during Q2, recording a fall of nine percent, mainly due to market conditions across the region, the Second Quarter 2010 GCC Fund Market Insight Report from Lipper showed on Wednesday.
Of the 73 equity categories, just 13 ended the second quarter in positive territory. Funds invested in Asia topped the semiannual rankings for the first half of 2010, with Equity Indonesia gaining 18.12 percent during the period, while Equity Saudi Arabia rose 2.34 percent. Gold and precious metals performed well, posting a 9.48 percent return.
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Corporate reaches out during Ramadan
Filed under NewsSep 2JEDDAH – In line with its special corporate social responsibility (CSR) initiatives for Ramadan, Al Rabie Saudi Foods Co. Ltd., a pioneering producer of dairy products and juices in Saudi Arabia and the largest juice manufacturer in the Middle East, is supporting the Iftar program arranged by the Kingdoms various charitable organizations and mosques for the holy month.
“Each day during Ramadan, Muslims throughout the country break their fast by taking part in the Iftar meal at mosques and charitable institutions. We were keen on making a small yet meaningful contribution during the holy month by including our juices in this special meal. After all, this is the season of giving and sharing,” said Monther Al Harthi, chief executive officer, Al Rabie Saudi Foods Co. Ltd.
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Sep 2
SEOUL – South Koreas Doosan Heavy Industries and Construction Co Ltd said on Wednesday it has won a $1.46 billion contract to build a new desalination plant in Saudi Arabia.
The plant will produce 1.025 million cubic meters of desalinated water per day and will be integrated with a 2,400 megawatts (MW) power plant, in Ras Azzour, on the Gulf coast.
The plant, expected to be the worlds largest would be completed in January 2014, Doosan said in a statement on the Korea Stock Exchange.
Tagged as: Construction Co Ltd, Doosan, Fuhaid Bin Fahd Al-Sharif, Governor, Gulf coast, Japans Sumitomo Corp, Korea Stock Exchange, manufacturing, Riyadh, Saline Water Conversion Corp.;, Saudi Arabia, Saudi Arabian Mining Co., Saudi Electricity Co., SEOUL, South Koreas Doosan Heavy Industries, U.S. Securities and Exchange Commission, USD;
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