萝莉视频

萝莉视频 emerges as a key destination for global finance, says top banker

Special  Rola Abu Manneh, CEO for the Standard Chartered Bank Middle East, UAE, and Pakistan during an interview with Arab News. AN photo by Abdulrahman bin Shalhoub
Rola Abu Manneh, CEO for the Standard Chartered Bank Middle East, UAE, and Pakistan during an interview with Arab News. AN photo by Abdulrahman bin Shalhoub
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Updated 30 October 2024

萝莉视频 emerges as a key destination for global finance, says top banker

萝莉视频 emerges as a key destination for global finance, says top banker

RIYADH: 萝莉视频 is emerging as a hub for global finance and investment, according to a Standard Chartered Bank official.

In an interview with Arab News at the Future Investment Initiative in Riyadh, Rola Abu Manneh, CEO of Standard Chartered Bank for the Middle East, UAE, and Pakistan, emphasized the significance of FII as a platform uniting key financial players. She mentioned that attendance has grown from 7,000 in 2023 to around 9,000 in 2024.

鈥淵ou could see it鈥檚 able to attract the fund managers, the bankers, the credit agencies, as well as the Saudi ink. It鈥檚 a platform where you meet all the Saudi ink. You learn about what investment Saudi requires. What are their plans in terms of expansion,鈥 she said.

Discussing the Kingdom鈥檚 infrastructure and growth initiatives, Abu Manneh highlighted the appeal for contractors, banks, and export credit agencies to collaborate on significant projects like the Red Sea initiative.

鈥淭his is where you would have the contractors, the ECAs, and the banks coming in together to put facilities in place,鈥 she added.

萝莉视频鈥檚 Public Investment Fund and Aramco are also generating interest from equity and debt investors worldwide, driven by their expansion and monetization strategies. 鈥淔rom that angle, there鈥檚 opportunity for everybody for equity, for the investments as well as for the debt,鈥 Abu Manneh explained.

She stressed the need for Saudi entities to diversify their funding sources, especially as the Kingdom develops its infrastructure. 鈥淚t鈥檚 very important for them, the Saudi ink, to diversify their funding base and not rely only on the debt capital market,鈥 she explained.

Abu Manneh noted that China has shown significant interest in Saudi projects. 鈥淐hina is looking to come and invest in the Saudi markets,鈥 she said, adding that Chinese companies and banks are keen to establish a presence in the Kingdom.

The bank is pursuing its digital transformation to adapt to changing customer expectations, with substantial investments in AI (artificial intelligence) and digitization. 鈥淏ecause if we don鈥檛 do this, frankly, all banks will just disappear,鈥 Abu Manneh remarked.

She added that while AI could enhance customer service and documentation processes, it won't fully replace human interaction, particularly in private banking.


Arab Energy Fund posts 7%聽rise in half-year net income聽聽

Arab Energy Fund posts 7%聽rise in half-year net income聽聽
Updated 26 sec ago

Arab Energy Fund posts 7%聽rise in half-year net income聽聽

Arab Energy Fund posts 7%聽rise in half-year net income聽聽

RIYADH: The Arab Energy Fund reported a 7 percent increase in net income for the first half of 2025, reaching $129 million compared to $121 million in the same period last year. 

The multilateral impact financial institution attributed the growth to strong operating income across all business lines, supported by disciplined risk management and cost efficiencies.

Total assets rose to $12 billion as of June 30, marking a 15 percent year-on-year increase, driven primarily by expansion in corporate banking and treasury portfolios.  

Shareholders鈥 equity grew 6.3 percent to $3.45 billion, while liabilities increased 18.7 percent to $8.59 billion, reflecting what the fund described as robust funding activity. 

The fund鈥檚 growth aligns with global energy trends, where resilient demand and continued investment needs in the sector are driving financing activity.  

The International Energy Agency reported in July that global oil demand is expected to rise by about 700,000 barrels per day, while energy consumption in the Middle East and North Africa region is projected to increase due to population growth and energy-intensive economies. 

At the same time, oil prices have held relatively stable despite supply increases from producers such as Iraq and easing OPEC+ cuts, providing favorable conditions for project financing.  

Alongside this, the shift toward diversification and greater focus on environmental and socially linked projects mirrors the fund鈥檚 impact mandate, positioning it to benefit from both conventional and transition-related investment opportunities. 

Khalid Al-Ruwaigh, CEO of TAEF, said: 鈥淥ur strong half-year performance reflects the resilience of our business model and our unwavering commitment to growth and delivering meaningful impact in the MENA energy sector.鈥  

He added: 鈥淕uided by our strategy, these results are a direct outcome of our sustained efforts across all business lines and our prudent capital management.鈥 

Al-Ruwaigh said they remain focused on providing innovative financing and investment solutions that create value for their stakeholders, saying, 鈥淭his reinforces our position as a leading and impact investment fund in the region鈥檚 energy landscape.鈥 

CFO Vicky Bhatia highlighted the fund鈥檚 operational efficiency, noting: 鈥淭hese results demonstrate our ability to capitalize on market opportunities while maintaining operational discipline.

鈥淲ith a cost-to-income ratio of just 17.9 percent, a non-performing loan ratio reduced to 0.3 percent, and a strong capital adequacy ratio of 29.7 percent, we remain well-positioned to sustain growth and meet our strategic objectives.鈥 

Within business lines, the corporate banking portfolio grew 12 percent year on year to $5.93 billion, driven by demand across energy-related sectors and geographic diversification.  

Investments and partnerships reached $1.50 billion, up 4.4 percent year on year, supported by selective investments and portfolio management.  

Treasury assets rose 18.3 percent to $4.39 billion, benefiting from portfolio optimization and favorable interest rate conditions. 

Total funding climbed to $8.37 billion, a 17.1 percent year-on-year increase, underpinned by debt issuances and proactive liability management. 

The fund said this growth strengthened its flexibility to finance future initiatives and support energy projects across the MENA region. 


萝莉视频 launches 30th shipping service of 2025, linking Jeddah to Port Sudan

萝莉视频 launches 30th shipping service of 2025, linking Jeddah to Port Sudan
Updated 22 September 2025

萝莉视频 launches 30th shipping service of 2025, linking Jeddah to Port Sudan

萝莉视频 launches 30th shipping service of 2025, linking Jeddah to Port Sudan

JEDDAH: 萝莉视频鈥檚 ports authority has launched its 30th new shipping service of the year, adding a direct route between Jeddah Islamic Port and Port Sudan. 

The 鈥淛SS鈥 service, operated by Marsa Ocean Shipping, offers capacity for 1,118 containers and is expected to strengthen trade flows across the Red Sea and support the Kingdom鈥檚 exports, said the Saudi Ports Authority, also known as Mawani. 

The move is part of Mawani鈥檚 drive to improve global rankings, enhance efficiency at Jeddah port, and strengthen 萝莉视频鈥檚 role as a trade link between Asia, Africa, and Europe.

The initiative also supports Vision 2030 goals to raise the logistics sector鈥檚 contribution to gross domestic product from 6 percent to 10 percent by 2030. 

In a post on its official X handle, the authority said: 鈥淎s part of Mawani鈥檚 ongoing efforts to enhance the competitiveness of the Kingdom鈥檚 ports, the 鈥楯SS鈥 shipping service, operated by 鈥楳arsa Ocean Shipping,鈥 has been added to Jeddah Islamic Port, representing the 30th new service introduced since the start of 2025.鈥 

This comes on the back of several new connections, with Goodrich launching the RSX1 service in August, linking Jeddah to Port Sudan, Djibouti, and Jebel Ali in the UAE with 720 TEUs capacity, while Blue Ocean Shipping introduced the BOS service to Qingdao, Ningbo, and Nansha in China, with 2,300 TEUs capacity. 

In July, CMA CGM began operating the LRX service, connecting Jeddah to Latakia in Syria, as well as Iskenderun and Mersin in Turkiye, and Beirut in Lebanon, with a capacity of 2,826 TEUs. That marked 萝莉视频鈥檚 first direct shipping link with Syria. 

Other recent additions include the AR2 Asia Redsea service by Wan Hai Lines, linking Jeddah to major ports in China, Turkiye, Egypt, and Jordan with a capacity of 3,700 TEUs, and the IM2 service by Emirates Line and Wan Hai, connecting to Mundra in India, Alexandria in Egypt, and Mersin in Turkiye. 

In March, Mawani launched the 鈥淐hinook Clanga鈥 service, operated by Mediterranean Shipping Co., at King Abdulaziz Port in Dammam and Jubail Commercial Port, connecting 萝莉视频鈥檚 eastern ports to 16 regional and international destinations. 

The service strengthens links across the Arabian Gulf to key ports, including Khalifa Bin Salman in Bahrain, Hamad in Qatar, Nhava Sheva in India, Colombo in Sri Lanka, and Singapore. 


萝莉视频, Boeing agree deal on advanced air mobility聽

萝莉视频, Boeing agree deal on advanced air mobility聽
Updated 22 September 2025

萝莉视频, Boeing agree deal on advanced air mobility聽

萝莉视频, Boeing agree deal on advanced air mobility聽

RIYADH: US aircraft manufacturer Boeing has inked an agreement with 萝莉视频 to explore partnerships and investments in the advanced air mobility sector.

A  memorandum of understanding was signed in Washington, D.C. by a delegation from the Kingdom鈥檚 civil aviation sector, led by Abdulaziz Al-Duailej, president of the General Authority of Civil Aviation, according to a press statement. 

Strengthening the aviation sector is one of the crucial goals outlined in 萝莉视频鈥檚 Vision 2030 agenda, as the Kingdom is trying to position itself as a global hub of business and tourism by the end of this decade. 

萝莉视频鈥檚 National Tourism Strategy aims to attract 150 million annual visitors by 2030, while also increasing the sector鈥檚 contribution to the Kingdom鈥檚 gross domestic product to more than 10 percent. 

Commenting on the MoU with Boeing, Sulaiman Al-Muhaimidi, GACA鈥檚 executive vice president for Aviation Safety and Environmental Sustainability, said: 鈥淭his partnership with Boeing reflects GACA鈥檚 commitment to creating safer, smarter skies through advanced air mobility innovation. The effort further cements 萝莉视频 at the forefront of the future of aviation.鈥 

During the visit, the Saudi delegation visited the Federal Aviation Administration and the headquarters of Boeing in Washington, as well as the Dreamliner facility in Charleston, South Carolina, where the company builds the 787 Dreamliner. 

The authority added that collaboration opportunities in civil aviation, aircraft manufacturing and maintenance services, sustainability, and advanced technologies initiatives were among the many topics discussed during the visit to the US. 

GACA added that the visit also aimed to enhance cooperation with the US in knowledge exchange, technology transfer, and localization of the aviation industry, in line with the Kingdom鈥檚 goal of becoming 鈥渁 global industrial and logistics hub in aviation as part of its economic diversification.鈥 

萝莉视频鈥檚 National Aviation Strategy targets doubling passenger capacity to 330 million annually from over 250 global destinations and increasing cargo handling to 4.5 million tonnes by 2030. 

鈥淏y engaging with global aviation regulators and manufacturers, GACA is supporting Vision 2030 objectives to strengthen 萝莉视频鈥檚 role as a hub connecting three continents, delivering greater connectivity and travel experiences for the Kingdom鈥檚 passengers,鈥 said Al-Duailej. 

He added: 鈥淲ith new Saudi airlines being launched, record aircraft orders, and a focus on innovation and sustainability, the visit highlights the unprecedented opportunities being created by the Kingdom and underscores the strong Saudi鈥揢S aviation partnership.鈥 

萝莉视频鈥檚 Riyadh Air, the second flag carrier of the Kingdom, is expected to commence its operations by this year. 

Announced in 2023 by Crown Prince Mohammed bin Salman, Riyadh Air is expected to contribute over $20 billion to the non-oil gross domestic product and create more than 200,000 direct and indirect jobs. 

In June, the airline鈥檚 CEO, Tony Douglas, told Bloomberg that it plans to launch a new international destination every two months once operations begin, as it prepares to take delivery of its first Boeing 787 Dreamliner. 

The carrier currently has four Boeing 787 Dreamliners in different stages of assembly at Boeing鈥檚 facility in Charleston, South Carolina.

In addition, Riyadh Air announced at the Paris Air Show in June that it will purchase up to 50 Airbus A350 long-range aircraft, with deliveries expected to start in 2030.


UAE鈥檚 construction output to hit $131bn by 2029: Knight Frank聽聽

UAE鈥檚 construction output to hit $131bn by 2029: Knight Frank聽聽
Updated 22 September 2025

UAE鈥檚 construction output to hit $131bn by 2029: Knight Frank聽聽

UAE鈥檚 construction output to hit $131bn by 2029: Knight Frank聽聽

RIYADH: The UAE鈥檚 construction output is projected to reach $130.8 billion by 2029, a 22 percent increase from 2024, as state-led projects drive growth, according to a new analysis. 

In its latest report, global consulting firm Knight Frank estimated output at $107.2 billion in 2024, with expansion forecast at about 4 percent annually.  

The rise in construction output reflects a broader trend across the Gulf Cooperation Council, where countries are steadily diversifying their economies and reducing reliance on crude revenues. 

A July Knight Frank report projected 萝莉视频鈥檚 construction output to hit $191 billion by 2029, up 29 percent from 2024, on the back of giga-projects, housing demand, and office development. 

Commenting on the latest report, Faisal Durrani, partner, head of research of Knight Frank in the Middle East and North Africa, said: 鈥淭he UAE construction industry is in a period of robust growth and transformation, driven by economic diversification, tourism and strategic infrastructure investments, particularly in housing, transport and smart cities.鈥  

According to the report, construction accounts for 62 percent of the UAE鈥檚 future project pipeline, ahead of transport at 12 percent, power at 7 percent, and water at 5 percent.  

Within construction, mixed-use schemes account for 42 percent, followed by residential real estate at 28 percent, data centers at 9 percent, and hospitality projects at 4 percent. 

The sector supports key national and emirate-level strategies, including 鈥淲e the UAE 2031,鈥 Dubai鈥檚 D33 agenda, the 2040 Urban Master Plan, and Abu Dhabi鈥檚 Vision 2030. 

鈥淎bu Dhabi and Dubai dominate the UAE market, accounting for 85 percent of the total value of contracts awarded between 2020 and August 2025 鈥 $151 billion in Abu Dhabi and $129.9 billion in Dubai,鈥 added Durrani.  

In the second quarter of 2025, residential construction costs ranged from 4,200 dirhams ($1,144) per sq. meter for standard villas to 11,000 dirhams for high-end villas, while apartments averaged 4,300 dirhams, according to the Knight Frank report. 

The cost of constructing commercial buildings in the first half of this year ranged from 5,500 dirhams to 7,300 dirhams per square meter. 

Dubai led momentum, with 75 percent of its contract activity concentrated in construction. Oil and gas projects accounted for only 3 percent of awards, highlighting the emirate鈥檚 economic diversification.  

Upcoming developments include Palm Jebel Ali, The Oasis by Emaar, and Marsa Al Arab, as well as Therme Dubai, Naia Island, and DAMAC Lagoons鈥 Venice community, alongside expansions at Dubai Hills Estate. The emirate is also extending its metro system by 15 km with the Blue Line by 2029. 

鈥淐ontinuous strategic economic development is reshaping Dubai鈥檚 commercial real estate landscape and the latest construction output figures reflect the strong fundamentals of the market,鈥 said Moataz Mosallam, partner 鈥 Project & Development Services, MENA at Knight Frank.  

He said Dubai鈥檚 population is expected to rise from 3.4 million in 2020 to 5.8 million by 2040 under the Urban Masterplan, driving residential growth. He noted that about 8.2 million sq. feet of office space is due by 2028, but demand is likely to outstrip supply, keeping construction activity strong. 

In Abu Dhabi, construction made up 23 percent of awarded contracts, trailing oil and gas at 40 percent. The emirate is pursuing major infrastructure projects under its Economic Vision 2030, including a 150-km high-speed rail link to Dubai due by 2030 and a planned 131-km metro system. 

Major projects include a 150-km high-speed rail link to Dubai, expected to be operational by 2030, and the planned 131-km Abu Dhabi Metro, aimed at supporting the city鈥檚 growing population. 

鈥淪ome 890 residential units were delivered in Abu Dhabi in the first half of 2025, and approximately 33,074 are under construction and scheduled for delivery by 2029. Apartments are expected to comprise 71 percent of this future supply pipeline,鈥 said Mosallam.  

Office supply is also set to surge, with nearly 175,000 sq. meters scheduled for 2027, following 51,000 sq. meters in 2025 and 43,000 sq. meters in 2026. 


Closing Bell: TASI ends higher at 10,808聽聽

Closing Bell: TASI ends higher at 10,808聽聽
Updated 21 September 2025

Closing Bell: TASI ends higher at 10,808聽聽

Closing Bell: TASI ends higher at 10,808聽聽

RIYADH: The Saudi stock market started the week higher on Sunday, with the benchmark Tadawul All Share Index adding 27.99 points, or 0.26 percent, to close at 10,808.68.   

Market activity saw 166 gainers against 76 losers, with a total of 272.83 million shares traded at a value of SR4.74 billion ($1.26 billion).  

The parallel market Nomu also advanced, rising 58.35 points, or 0.23 percent, to 25,349.27, with 41 stocks ending in positive territory while 38 declined.  

Meanwhile, the MT30 index, which tracks the performance of the 30 largest companies by market capitalization and liquidity, edged up 2.24 points, or 0.16 percent, to close at 1,401.03.  

On the sector front, MBC Group led the gainers, climbing 10 percent to SR35.42, continuing its rising streak from last Thursday after the Public Investment Fund鈥檚 acquisition.   

It was followed by Abdullah Saad Mohammed Abo Moati for Bookstores Co., which advanced 8.70 percent to SR40.98, and The Mediterranean and Gulf Insurance and Reinsurance Co., which increased 7.14 percent to SR16.80.   

East Pipes Integrated Co. for Industry rose 6.81 percent to SR117.60, while Arabian Contracting Services Co. gained 5.99 percent to SR92.95. 

On the other hand, Dar Alarkan Real Estate Development Co. fell 5.84 percent to SR15.79, while Saudi Real Estate Co. dropped 4.95 percent to SR15.17.   

Thimar Development Holding Co. slipped 3.51 percent to SR44, Saudi Ground Services Co. lost 2.63 percent to SR43.68, and Alahli REIT 1 Fund edged down 2.39 percent to SR6.54.  

On the announcement front, Saudi Vitrified Clay Pipes Co. said it signed an agreement to sell its second plant in Riyadh, which produces vitrified clay pipes and related fittings, for SR45 million to Al-Mutahidah Al-Namothajiya Industries Co.   

The company said the sale is expected to generate a capital gain of SR20.1 million and proceeds will be used to fund operating activities.  

Its shares closed at SR26.72, up 0.6 percent.  

Dar Al Majdiah Real Estate Co. clarified that the updated Executive Regulations of the White Land Fees, issued by the Ministry of Municipalities and Housing, will not have a material impact on its financials or operations.  

The company highlighted it had already settled SR1.7 million in fees and noted invoices of SR3.3 million remain under objection with authorities.  

Shares of Dar Al Majdiah ended at SR12.96, down 1.37 percent.  

Ladun Investment Co. also stated that the implementation of the newly amended White Land Tax Regulations will have no material impact on its financials.  

Shares of the company rose 5.45 percent to SR2.9.  

Separately, Al Moammar Information Systems Co. announced the signing of a SR60.54 million contract, including VAT, with Emdad Solutions for ICT to provide IT services over a 36-month period.   

The company said the agreement is expected to have a positive financial impact starting from the third and fourth quarter of 2025.  

Shares of MIS closed at SR134, gaining 0.6 percent.