BMG Economic Forum to be held at London Stock Exchange

The BMG Economic Forum will be held at the London Stock Exchange on July 26. The forum will cover different topics including geopolitics, dual listings, key growth sectors, Nomu market, SMEs, and the future of fintech.
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Updated 25 July 2022
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BMG Economic Forum to be held at London Stock Exchange

BMG Financial Group will host its annual Economic Forum focused on Saudi Arabia’s Vision 2030 at the London Stock Exchange on July 26. The forum will cover different topics including geopolitics, dual listings, key growth sectors, Nomu market, SMEs, and the future of fintech.  
Senior Saudi officials, prominent businessmen, CEOs and others are among the distinguished faculty of speakers for the forum. Speakers will include Dr. Nabeel Koshak, CEO and board member, Saudi Venture Capital Company; Abdulaziz Al-Ghifaili, UK international office director, Ministry of Investment; Al-Bader Foudeh, industrial development deputy minister, Ministry of Industry; Talaat Hafez, board member of Baa-Azeem Trading Co; Ali Alireza, managing director, Haji Hussein Ali Reza; Julia Hoggart, CEO of London Stock Exchange; and Cevdet Caner, CEO of Aggregate Holdings. In addition to them, Makarem Al-Batterjee, chairman of Gold’s Gym Arabia; Sekip Senturuk, deputy CEO of Baytur; Mohammad Shahin, CFO of Al-Shair Group; and Vittorio Rocchi, CFO of Sitaf Foods; are also going to be a part of the speakers faculty. The forum will also include a panel discussion on the offering of Saudi family businesses in the parallel market and its role in supporting the economy to achieve the Kingdom’s Vision 2030.

BACKGROUND

BMG Foundation has been bridging East and West through sport, music and art for more than 20 years. The vision of the foundation is to transcend differences through the common language of culture.

Basil Al-Ghalayini, CEO of BMG Financial Group, said: “We chose the London Stock Exchange to host our forum because it is the oldest exchange in the world, which will help to broaden our message and reach global investors to promote the promising inward investments into the Kingdom.”
On the night before the forum, BMG Foundation will host a classical music concert with the theme “Ears Around the World,” where East meets West, performed by the Royal Philharmonic Orchestra and conducted by William Walker. The G20 Orchestra musicians will showcase certain musical traditions of Saudi Arabia, aiming to strengthen the deep cultural connections between nations.
BMG Foundation has been bridging East and West through sport, music and art for more than 20 years. In a world that constantly reminds us of our differences and what sets us apart, the vision of BMG Foundation is to transcend differences through the common language of culture.


Thakher CEO lauds Makkah’s hospitality sector

Updated 09 July 2024
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Thakher CEO lauds Makkah’s hospitality sector

Thakher Development Company’s CEO Abdulaziz bin Saleh Al-Aboudi said that Makkah’s hospitality sector sustained its strong performance during this year’s Hajj season, with occupancy rates in the hotels of the Thakher Makkah project reaching 100 percent for the second consecutive year.

The CEO attributed this strong performance to several factors, including the provision of exceptional service to pilgrims and early preparations to ensure the utmost comfort and satisfaction for them.

“We at Thakher Development Company are continuing to work on our project in line with this strong performance to meet the aspirations of investors and visitors. So far, we have developed and constructed eight 4-star hotels and hotel apartments operated by international operators, with the most recent being the delivery of units in the Novotel Residences Makkah project to buyers,” Al-Aboudi said.

“Upon completion of the Thakher Makkah project, it will offer more than 39,000 rooms and 3,000 hotel apartments, with a total capacity of 144,000 beds. The project will also provide up to 36,000 permanent and seasonal job opportunities, thereby supporting and strengthening the local economy,” he added.

The project, spanning over an area of 320,000 square meters, will include 100 land plots for hospitality, residential and commercial uses. Residential and hotel apartment units will be available in various categories, and the units will also be available for ownership.

Thaker Makkah will be home to some of the biggest names in global hospitality including The Radisson Hotel, Park Inn by Radisson, and Novotel, which will be the largest in the world in terms of the number of rooms.

The company is also involved in developing the old neighborhoods of Makkah in coordination with the Royal Commission for Makkah City and Holy Sites, in order to provide distinguished services to pilgrims.


Lulu opens 61st Saudi hypermarket in Riyadh

Hassan Muejab Al-Huwaizi and Mohammed Abdulrahman Aba Hussain inaugurated LuLu’s 61st hypermarket in presence of Yusuff Ali M.A.
Updated 08 July 2024
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Lulu opens 61st Saudi hypermarket in Riyadh

Lulu’s highly anticipated loyalty program, “Happiness,” was launched on the occasion. This program rewards LuLu’s customers by allowing them to earn points on all purchases made at the hypermarket.

Retail major LuLu Group further expanded its presence in the Kingdom by unveiling its latest destination at Laban Square, Dhahrat Laban, Riyadh.

Hassan Muejab Al-Huwaizi, chairman of the Federation of Saudi Chambers, and Mohammed Abdulrahman Aba Hussain, deputy of integrated investors services — Ministry of Investment, officially inaugurated LuLu’s 61st Saudi hypermarket in the presence of Yusuff Ali M.A., chairman and managing director of LuLu Group, and other dignitaries. These included Ashraf Ali M.A., executive director, LuLu Group; Shehim Mohammed, director of LuLu Group Saudi Arabia; Hatim Mustansir, contractor, regional director — central province; and other officials.

The hypermarket, spread over 69,000 square feet in the popular Laban Square, features all the favorite shopping amenities that have made LuLu the fastest-growing retail chain across the Kingdom. It is a well-stocked supermarket with the choicest selection of ingredients from across the world, fresh food in the Hot Foods section, bakery items, electronics, household goods, and much more.

Ali said: “LuLu Group is delighted to add yet another landmark to the landscape of the beautiful city of Riyadh and this opening aligns with the group’s commitment to continuing expansion and reaffirms our confidence in the progress of Saudi Arabia.”
“As part of the expansion plan, our aim is to have 100 hypermarkets in the next two to three years and we are on track to open around 10 new hypermarkets by this year, including in the holy cities of Makkah and Madinah. We are proud to be part of Saudi Arabia’s overall development and will continue to support sustainable development strategies, thanks to the Kingdom’s wise leadership,” added Ali.

“We have also focused on promoting and providing local employment opportunities, which have been critical to our success, through a structured recruitment process that aims to provide necessary training and skill enhancement opportunities to the local workforce.

“At present, we employ over 4,000 Saudi nationals in all the hypermarkets across the country in various positions, out of which 1,500 are women. Our aim is to encourage more youth to join our workforce, thereby ensuring greater economic participation.” 
Al-Huwaizi and Ali also launched Lulu’s highly anticipated loyalty program, “Happiness.” This program rewards LuLu’s customers by allowing them to earn points on all purchases made at the hypermarket. Participants in the “Happiness” program will enjoy exclusive offers and the opportunity to earn cash back points in specific categories.

The program also provides additional benefits such as the doubling of points, enabling customers to accumulate rewards more quickly. The loyalty program is now open for registration.


Najm offers vehicle repair for third-party clients

Updated 08 July 2024
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Najm offers vehicle repair for third-party clients

Najm for Insurance Services Company has launched a new service to repair third-party insurance clients’ vehicles affected by traffic accidents. The Najm Repair Network Service is a first initiative of its kind in the Saudi insurance sector, which will enhance road safety by ensuring the safety of vehicles and reducing the burden on those affected by traffic accidents. It targets third-party insurance clients by repairing their vehicles at centers accredited by the Saudi Standards, Metrology and Quality Organization. The aim is to provide a fast and high-quality repair service in accordance with the highest standards.

The NRN service supports vehicle owners affected by traffic accidents, by repairing their vehicles instead of offering compensation in cash. It will facilitate the customer’s journey after an accident by sparing them the effort to submit and follow up on insurance claim procedures, estimate vehicle damage and track the repair process.

In the event of an accident involving a third-party insurance client vehicle, Najm will communicate with the client through several channels to explain the procedure for vehicle repair, following which the vehicle will be towed from the customer’s location to the damage assessment center “Taqdeer” for estimating the damage. After that, the vehicle will be transferred to the repair center, a claim will be submitted to the insurance company and the vehicle will be repaired and returned to the customer’s location with a repair guarantee provided. Najm provides all these services free of charge without burdening vehicle owners with any additional costs.

Najm CEO Mohammed Y. Al-Shehri said: “The NRN service from Najm will contribute to providing alternative solutions that ensure achieving the best possible benefits of insurance compensation, by providing a high-quality repair service for third-party insurance clients’ vehicles affected by traffic accidents. It also supports safety on the roads, protects our society, helps increase investments in the vehicle repair sector and reduces fraud.”

He added: “Najm aims to provide the best service standards to its customers as well as activate innovative solutions to improve the customer experience and meet their expectations in the best possible way. Najm also seeks to raise insurance awareness, achieve traffic safety and protect the people’s lives.”

Al-Shehri said that several service providers have positively responded to the NRN service by signing partnership agreements with Najm.


New Bupa Arabia service enhances maternity coverage

Updated 08 July 2024
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New Bupa Arabia service enhances maternity coverage

Bupa Arabia for Cooperative Insurance has launched a first-of-its-kind service in Saudi Arabia, allowing employees covered under the company’s client insurance policies to easily upgrade their maternity coverage and select hospital room types through the Bupa Arabia mobile app.

The service will enable employees to manage their insurance coverage to better suit their needs and preferences, including selecting the room type in less than a minute via the Bupa Arabia app, without the need to contact the insurance company or visit any of its branches. This provides customers with convenience and the necessary healthcare during critical moments in their lives.

The Bupa Arabia health insurance app is a comprehensive digital platform that enables users to manage their health needs easily and effectively. It offers a wide range of services, including verifying and managing insurance coverage, submitting and tracking claims, managing medical approvals, searching for service providers, booking appointments, communicating with customer service, managing the electronic medical file, and more. This helps customers focus on their health and well-being by providing an easy-to-use digital experience that meets their diverse needs.

Alshereef Hamideddin, senior executive director of marketing and customer experience design at Bupa Arabia, said: “We are pleased to launch the health insurance benefits upgrade service, which is an important step in our commitment to providing innovative and comprehensive health insurance solutions that meet the needs of various customer segments, especially employees wishing to change their insurance coverage.”

AlShereef added: “The benefits upgrade product is in its first phase, and additional benefits will be added to meet our members’ needs, including dental coverage and improving the network level. We now offer pregnant mothers the freedom to choose the birthing experience they desire, helping them feel in control of this important experience. This service also helps reduce the anxiety and stress that pregnant mothers may feel during this crucial period of their lives, allowing them to focus on their child’s health and comfort.”

Bupa Arabia offers pregnant women a range of free online medical services through the Tebtom program. These services include consultations with specialist doctors, monitoring pregnancy records, ordering medications, home vaccination services, and pre-and post-natal guidance.


stc named ‘Elite Partner’ for Esports World Cup

Updated 06 July 2024
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stc named ‘Elite Partner’ for Esports World Cup

stc Group, an enabler of digital transformation, is supporting Saudi Arabia’s journey to become a premier global hub for gaming and esports, in line with the Kingdom’s Vision 2030 goals. The group has been named as “Elite Partner” for the inaugural Esports World Cup, a global celebration of competitive excellence and esports fandom, underway in the Saudi capital. The event started on July 3 and runs until Aug. 25.

The tournament features a unique cross-game structure that pits the world’s top esports teams and athletes against one another for the largest-ever prize pool. stc Group is enabling seamless connectivity across the entire event.

stc Group’s future-forward digital approach and unmatched scale and scope offers the industry more than just telco services. The company’s integrated gaming services ensure seamless data exchange and high-speed connectivity, supported by its expansive 5G network. With significant investments in digital infrastructure, stc Group has equipped more than 90 percent of major cities in Saudi Arabia with 5G technology.

Furthermore, stc Group’s data centers and hosting solutions offer a one-stop shop for dedicated server hosting, storage/SAN, load balancing, backup, and managed security. Hosting is bundled with equipment and physical co-location in data centers that provide full power and A/C redundancy, enhancing service reliability. The group’s data centers operate under world-class standards and procedures, adopting best practices to ensure optimal performance.

stc Group further highlights its proposition to the industry through its gaming arm, stc play. The platform offers gamers the opportunity to discover rich content, shop for gaming gear and digital items, and create or join exciting tournaments. Additionally, stc play facilitates seamless connection with fellow gamers through integrated chat features, fostering a vibrant and interactive gaming community.

“These technologies are a testament to stc Group’s dedication to network excellence and its strategic implementation of traffic management, big data, and automation.

Through the widening scale of investments, stc Group continues to optimize functional networks, ensuring seamless and high-performance connectivity for gamers across the region,” the group said in a statement.