Kuwait

Saudi Arabia Announces Budget 2022, with a Focus on Service Improvement, Fiscal Sustainability and Private Sector Empowerment

Retrieved on: 
Monday, December 13, 2021

His Excellency indicated that such policies have had a positive impact on the gradual recovery of the local economy showing a fast-paced growth in several areas.

Key Points: 
  • His Excellency indicated that such policies have had a positive impact on the gradual recovery of the local economy showing a fast-paced growth in several areas.
  • Al-Jadaan stated that the budget estimates for the FY 2022 show that total revenues will reach SAR 1,045 billion, an increase of 12.4% compared to the projected revenues in 2021.
  • Total expenditures are estimated at around SAR 955 billion, with SAR 90 billion in surplus (2.5% of GDP).
  • The Minister of Finance highlighted that the Kingdom is witnessing ongoing economic growth supported by the economic enablers directed to the private sector.

Saudi Arabia Announces Budget 2022, with a Focus on Service Improvement, Fiscal Sustainability and Private Sector Empowerment

Retrieved on: 
Monday, December 13, 2021

His Excellency indicated that such policies have had a positive impact on the gradual recovery of the local economy showing a fast-paced growth in several areas.

Key Points: 
  • His Excellency indicated that such policies have had a positive impact on the gradual recovery of the local economy showing a fast-paced growth in several areas.
  • Al-Jadaan stated that the budget estimates for the FY 2022 show that total revenues will reach SAR 1,045 billion, an increase of 12.4% compared to the projected revenues in 2021.
  • Total expenditures are estimated at around SAR 955 billion, with SAR 90 billion in surplus (2.5% of GDP).
  • The Minister of Finance highlighted that the Kingdom is witnessing ongoing economic growth supported by the economic enablers directed to the private sector.

C3 Arabia, the Middle East's Leading Omnichannel Food Tech Platform, Announces Ian Toal as CEO

Retrieved on: 
Monday, December 13, 2021

RIYADH, Saudi Arabia, Dec. 13, 2021 /PRNewswire/ --C3(Creating Culinary Communities),the leading global food tech platform founded by visionary Sam Nazarian, joins WK Holding, the leading Saudi Arabia based investment Houseto announce Ian Toal as CEO of C3 Arabia.

Key Points: 
  • RIYADH, Saudi Arabia, Dec. 13, 2021 /PRNewswire/ --C3(Creating Culinary Communities),the leading global food tech platform founded by visionary Sam Nazarian, joins WK Holding, the leading Saudi Arabia based investment Houseto announce Ian Toal as CEO of C3 Arabia.
  • Launched in 2019 by Sam Nazarian, Founder and CEO, C3 has pioneered the food tech space and is the fastest-growing food-tech platform today.
  • I am thrilled to have C3 Arabia'sCEO Ian Toal at the helm to ensure a success.
  • Layla Abuzaid, Founder and CEO of WK Holding, said, "We're thrilled to announce the appointment of Ian Toal as CEO ofC3 Arabia.

C3 Arabia, the Middle East's Leading Omnichannel Food Tech Platform, Announces Ian Toal as CEO

Retrieved on: 
Monday, December 13, 2021

RIYADH, Saudi Arabia, Dec. 13, 2021 /PRNewswire/ -- C3 (Creating Culinary Communities), the leading global food tech platform founded by visionary Sam Nazarian, joins WK Holding, the leading Saudi Arabia based investment House to announce Ian Toal as CEO of C3 Arabia. Ian Toal's new post encompasses more than 30 years of leadership experience in global hospitality, international supply chain management and quick service restaurants.

Key Points: 
  • RIYADH, Saudi Arabia, Dec. 13, 2021 /PRNewswire/ --C3(Creating Culinary Communities),the leading global food tech platform founded by visionary Sam Nazarian, joins WK Holding, the leading Saudi Arabia based investment Houseto announce Ian Toal as CEO of C3 Arabia.
  • Launched in 2019 by Sam Nazarian, Founder and CEO, C3 has pioneered the food tech space and is the fastest-growing food-tech platform today.
  • I am thrilled to have C3 Arabia'sCEO Ian Toal at the helm to ensure a success.
  • Layla Abuzaid, Founder and CEO of WK Holding, said, "We're thrilled to announce the appointment of Ian Toal as CEO ofC3 Arabia.

Saudi Real Estate Refinance Company (SRC) issues SAR 2 billion Sukuk, under its existing Sukuk Programme, to increase its support for home ownership in the Kingdom of Saudi Arabia

Retrieved on: 
Sunday, December 12, 2021

RIYADH, Saudi Arabia, Dec. 12, 2021 /PRNewswire/ -- Saudi Real Estate Refinance Company (SRC) successfully completed issuing a SAR 2 billion Sukuk to support lenders in the housing market, with the aim to further expand home ownership by making it more affordable. The Sukuk was guaranteed by the Kingdom of Saudi Arabia through the Ministry of Finance.

Key Points: 
  • The Sukuk was guaranteed by the Kingdom of Saudi Arabia through the Ministry of Finance.
  • The funding raised will enable us to expand our relationships with home finance lenders, as Saudi Arabia moves closer to its target of achieving 70% home ownership among Saudi nationals by 2030."
  • Its first Sukuk offerings under the programme were issued in March 2021 in two tranches of 7 and 10-years totaling SAR 4 billion.
  • SRC enables individuals and entities interested in direct or indirect real estate financing to increase and diversify origination of long-term fixed-rate (LTFR) products.

Saudi Real Estate Refinance Company (SRC) issues SAR 2 billion Sukuk, under its existing Sukuk Programme, to increase its support for home ownership in the Kingdom of Saudi Arabia

Retrieved on: 
Sunday, December 12, 2021

The Sukuk was guaranteed by the Kingdom of Saudi Arabia through the Ministry of Finance.

Key Points: 
  • The Sukuk was guaranteed by the Kingdom of Saudi Arabia through the Ministry of Finance.
  • The funding raised will enable us to expand our relationships with home finance lenders, as Saudi Arabia moves closer to its target of achieving 70% home ownership among Saudi nationals by 2030."
  • Its first Sukuk offerings under the programme were issued in March 2021 in two tranches of 7 and 10-years totaling SAR 4 billion.
  • SRC enables individuals and entities interested in direct or indirect real estate financing to increase and diversify origination of long-term fixed-rate (LTFR) products.

Reimaging the Future: OPPO Will Host OPPO INNO DAY 2021 on 14-15 December at its first ever virtual INNO WORLD

Retrieved on: 
Sunday, December 12, 2021

DUBAI, UAE, Dec. 12, 2021 /PRNewswire/ -- OPPO has announced it will host the annual OPPO INNO DAY on 14-15 December 2021 in Shenzhen, China.

Key Points: 
  • DUBAI, UAE, Dec. 12, 2021 /PRNewswire/ -- OPPO has announced it will host the annual OPPO INNO DAY on 14-15 December 2021 in Shenzhen, China.
  • At the inaugural OPPO INNO DAY 2019, OPPO illustrated its integrated ecosystem of cutting-edge technologies, including AR Glasses, 5G CPE, and OPPO Band .
  • For 2021, OPPO is digitalizing the launch event and exhibitions, transforming the conventional event into an entertaining and interactive world of virtual experiences.
  • OPPO INNO WORLD is the virtual stage of OPPO INNO DAY 2021.

Reimaging the Future: OPPO Will Host OPPO INNO DAY 2021 on 14-15 December at its first ever virtual INNO WORLD

Retrieved on: 
Sunday, December 12, 2021

DUBAI, UAE, Dec. 12, 2021 /PRNewswire/ -- OPPO has announced it will host the annual OPPO INNO DAY on 14-15 December 2021 in Shenzhen, China.

Key Points: 
  • DUBAI, UAE, Dec. 12, 2021 /PRNewswire/ -- OPPO has announced it will host the annual OPPO INNO DAY on 14-15 December 2021 in Shenzhen, China.
  • At the inaugural OPPO INNO DAY 2019, OPPO illustrated its integrated ecosystem of cutting-edge technologies, including AR Glasses, 5G CPE, and OPPO Band .
  • For 2021, OPPO is digitalizing the launch event and exhibitions, transforming the conventional event into an entertaining and interactive world of virtual experiences.
  • OPPO INNO WORLD is the virtual stage of OPPO INNO DAY 2021.

CGTN: In America, paying taxes is optional if you're a billionaire

Retrieved on: 
Sunday, December 12, 2021

The report compared the amount of tax paid annually by the richest 25 Americans to their wealth accrual during the same period, as estimated by Forbes magazine.

Key Points: 
  • The report compared the amount of tax paid annually by the richest 25 Americans to their wealth accrual during the same period, as estimated by Forbes magazine.
  • Of a total wealth accumulation of $401 billion, the group collectively paid $13.6 billion in taxes a dazzling sum that nonetheless translates to a real tax rate of just 3.4 percent.
  • In contrast, the average American household paid 14 percent in federal taxes, at rates that rise progressively in relation to income.
  • By comparison, the bottom half of all U.S. households an estimated 65 million families shared a combined wealth of $2.5 trillion, according to the report.

AstraZeneca Levant recognized among the top workplaces in pharma for 2021

Retrieved on: 
Sunday, December 12, 2021

DUBAI, United Arab Emirates, Dec. 11, 2021 /PRNewswire/ -- AstraZeneca Levant https://edenred.ae/ , an affiliate of the multinational pharmaceutical and biotechnology company,has been recently recognized as one of the best places to work in Jordan, Lebanon and Iraq.

Key Points: 
  • DUBAI, United Arab Emirates, Dec. 11, 2021 /PRNewswire/ -- AstraZeneca Levant https://edenred.ae/ , an affiliate of the multinational pharmaceutical and biotechnology company,has been recently recognized as one of the best places to work in Jordan, Lebanon and Iraq.
  • In a statement from Rami Scandar, NEMAG Country President for AstraZeneca, he said"At AstraZeneca Near East & Maghreb, we believe that People Behind the Numbers are More Important than the Numbers.
  • We ensure that everyone who chooses to work for our company can reach their full potential & make a valued contribution to the enterprise.
  • It's about attracting and retaining people with the right skills who share our values, providing them the opportunity to learn and develop."