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American Express Saudi Arabia participates in Seamless 2024

American Express Saudi Arabia participates in Seamless 2024
Fahad Mubarak Al-Guthami, CEO of American Express Saudi Arabia
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Updated 2 min 23 sec ago
Arab News
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American Express Saudi Arabia participates in Seamless 2024

American Express Saudi Arabia participates in Seamless 2024
Updated 2 min 23 sec ago
Arab News
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American Express Saudi Arabia is the exclusive sponsor of the VIP lounge at Seamless Saudi Arabia 2024, running from Oct. 22 to 24.

The lounge, called AMEX Premium Lounge, is expected to welcome more than 500 visitors and will enable networking opportunities for those with VIP access.

Fahad Mubarak Al-Guthami, CEO of American Express Saudi Arabia, delivered a keynote on innovation and partnerships on Oct. 22, highlighting how partnerships have helped to support the growth of American Express merchant acceptance in the Saudi market.

Mark Turner, chief commercial officer of American Express Saudi Arabia, will also speak during a panel discussion on payment orchestration on Oct. 23 at 5:20 p.m.

Expressing his thoughts on the participation in Seamless 2024, Al-Guthami said: “We are proud to be a sponsor and speakers at the third edition of Seamless Saudi Arabia, which provides a unique platform to gather the financial community. This leading event is key to identifying emerging trends and facilitating dialogue among industry leaders.”

American Express Saudi Arabia is a joint venture company, equally owned by Amex (Middle East) B.S.C. and the Saudi Investment Bank. The company owns and operates the American Express card and merchant business in the Kingdom.

While American Express products have been accessible to customers, merchants, and corporations in Saudi Arabia for more than three decades, the establishment of American Express Saudi Arabia in 1999 marked a significant milestone in the brand’s development within
the Kingdom.

Combining the resources and expertise of American Express with the Saudi Investment Bank has contributed to developing and expanding the services offered to American Express cardmembers and merchants in the Kingdom.

MedGulf partners with iO Health to enhance AI-driven health technology

MedGulf partners with iO Health to enhance AI-driven health technology
Updated 23 October 2024
Arab News
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MedGulf partners with iO Health to enhance AI-driven health technology

MedGulf partners with iO Health to enhance AI-driven health technology
Updated 23 October 2024
Arab News

In a strategic move aimed at enhancing health insurance services, MedGulf, a leading provider of insurance solutions through technology and innovation, announced a strategic partnership with iO Health, a company specializing in the development, and operation of technological and digital solutions for the healthcare sector.

The signing ceremony was attended by MedGulf’s Chief Health and Life Insurance Officer Mazen Hejab, and iO Health’s CEO and Board Member Dr. Haider Saeed Alyousuf.

This partnership is considered highly significant, as it is expected to improve patient outcomes through accurate data analysis and tailored treatment recommendations. This will enable healthcare providers to deliver appropriate care at the right time, thereby enhancing the quality of healthcare services provided.

The partnership will also highlight the need for investment in technology within the healthcare sector, opening new job opportunities. Institutions will require specialists with skills in artificial intelligence and health data analysis, reflecting the growing importance of training and education in the healthcare field.

Burjeel Holdings unveils mental health and ambulatory care solutions at Global Health Exhibition

Burjeel Holdings unveils mental health and ambulatory care solutions at Global Health Exhibition
Updated 23 October 2024
Arab News
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Burjeel Holdings unveils mental health and ambulatory care solutions at Global Health Exhibition

Burjeel Holdings unveils mental health and ambulatory care solutions at Global Health Exhibition
Updated 23 October 2024
Arab News

As part of its expansion in Saudi Arabia, Burjeel Holdings, a leading super-specialty health care provider in the MENA region, introduced two health care solutions at the Global Health Exhibition 2024. The group unveiled Alkalma, a mental health and well-being platform, and Burjeel One, a specialized network of day surgery centers. Both initiatives align with Saudi Arabia’s Vision 2030 and are set to revolutionize health care delivery in the region. Dr. Shamsheer Vayalil, founder and chairman of Burjeel Holdings, briefed Saudi Minister of Health Fahad bin Abdurrahman Al-Jalajel on the new initiatives at the Riyadh event. 

Alkalma, born from a strategic joint venture between Burjeel Holdings and Colombia-based health care leader Keralty, marks a new chapter in mental health services. Integrating value-based care with specialized primary centers and health risk management, Alkalma is debuting in Saudi Arabia with an ambitious goal of reaching nearly 30 million patients across MENA over the next decade. Alkalma will enhance preventive care, manage health risks, and reduce hospitalizations, all while delivering a comprehensive care ecosystem. 

Burjeel One was also revealed at the exhibition, addressing the increasing demand for high-quality same-day medical services. These centers will offer minimally invasive procedures across key specialties such as oncology, advanced gynecology, orthopedics, and neurology. By incorporating advanced robotics and cutting-edge technologies, the first two Burjeel One centers, set to open in Riyadh by 2025, will ensure that patients receive world-class care without the need for prolonged hospital stays. 

At the exhibition, visitors were given insight into how Alkalma and Burjeel One are supporting the Kingdom’s shift toward a comprehensive health care model. 

“The launch of Alkalma and Burjeel One reflects our commitment to transforming health care in the region by integrating advanced technologies and value-based care models. These initiatives address the growing need for accessible mental health services and specialized ambulatory care while aligning with Saudi Arabia’s Vision 2030,” said John Sunil, CEO of Burjeel Holdings. 

The unveiling of Alkalma and Burjeel One builds on the success of PhysioTherabia, Saudi Arabia’s largest and fastest-growing physiotherapy network, which has expanded to 28 centers since its launch in 2023. These new services will enhance the network, offering integrated care from mental health to specialized surgery and rehabilitation.

Participating under the theme “Making Space for Innovation,” Burjeel Holdings showcased its commitment to advancing health care at the Global Health Exhibition. Attendees experienced live demos of advanced physiotherapy equipment, while Burjeel highlighted its expertise in complex care across specialties like fetal medicine, orthopedics, oncology, pediatrics, and cardiovascular care. 

During their visit to Burjeel’s booth, Dr. Majid Al-Fayyadh, CEO of King Faisal Specialist Hospital and Research Center; Dr. Mohammed Al-Abd Al-Aali, assistant minister of health; Dr. Ibrahim Alomar, assistant deputy minister for health investment, private sector participation, Ministry of Health; Dr. Khaled Alabdulkareem, assistant deputy minister for primary health care, Ministry of Health; and Dr. Shabab Al-Ghamdi, general secretary of CCHI, were introduced to the new brands the group is launching in the Kingdom.

 

Construction powers forward at Cenomi’s Jawrahat Jeddah

Construction powers forward at Cenomi’s Jawrahat Jeddah
Updated 23 October 2024
Arab News
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Construction powers forward at Cenomi’s Jawrahat Jeddah

Construction powers forward at Cenomi’s Jawrahat Jeddah
Updated 23 October 2024
Arab News

Cenomi Centers, the largest owner, operator and developer of contemporary lifestyle centers in Saudi Arabia, announced that construction of its flagship development — Jawharat Jeddah — is powering forward, with the center on track to complete by the end of 2025.

Leasing demand at the center remains strong with pre-leasing now at more than 70 percent complete. Upon opening, Jawharat Jeddah will feature 300 stores including 50 flagship stores and 10 new brands in the city for the first time. Jawharat Jeddah will also feature the city’s first world-class luxury wing with more than 60 brands along with next-generation entertainment, a pioneering events hub, three distinct experiential food and beverage zones and a state-of-the-art immersive digital experience. 
Jawharat Jeddah is located in the heart of the city’s northern expansion path, capturing 90 percent of high-income households within a 30-minute drive, and has a spend potential of more than SR3 billion ($800 million). It is expected that the center will be No. 1 for footfall and spend and will attract over 15 million visitors annually. Jawharat Jeddah benefits from being centrally positioned on one of the city’s busiest roundabouts, just a 10-minute drive to the airport and close to key developments including Jeddah Corniche, several five-star hotels, key hospitals and residential neighborhoods. Additionally, it has easy access to Makkah, visited by more than 13 million people in 2023.

The retail center will become Jeddah’s first Gold-LEED certified mall demonstrating high sustainability standards. It is also a cornerstone of the Kingdom’s Vision 2030, driving retail sales and tourism and employing 2,500 Saudis, including 1,500 women.

Together, Jawharat Jeddah and Jawharat Riyadh are expected to become Cenomi Centers’ top two malls in terms of footfall, revenues and EBITDA, with each far exceeding the top mall in Cenomi Centers’ current portfolio. Upon stabilization, this will result in EBITDA of more than SR650 million, 40 percent of current EBITDA.

Bruno Wehbe, COO of Cenomi Centers, said: “We are extremely pleased with the progress being made at Jawharat Jeddah. Brands are continuing to place their trust in Cenomi Centers’ vision for retail and entertainment, and as we near completion, anticipation is building both locally and internationally. Cenomi Centers has provided customers with high-quality lifestyle centers for over two decades and with the new Jawharat developments both in Jeddah and Riyadh, we will be taking retail to the next level in the Kingdom.”

Ghassan Abu Mutier, chief development and delivery officer, Cenomi Centers, said: “Jawharat Jeddah is a very important development and will change the way Saudi Arabia imagines retail and lifestyle experiences. Being the first Gold-LEED certified mall in the Kingdom will be a proud moment for Cenomi Centers, keeping our commitment to ESG at the heart of this development. We look forward to welcoming our retailers as we handover their retail spaces from early 2025 for fit out and crafting unique entertainment and retail experiences with the most wanted brands.” 

Alinma to finance Bahri’s fleet modernization drive

Alinma to finance Bahri’s fleet modernization drive
Updated 22 October 2024
Arab News
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Alinma to finance Bahri’s fleet modernization drive

Alinma to finance Bahri’s fleet modernization drive
Updated 22 October 2024
Arab News

Bahri, the national shipping company of Saudi Arabia and a global leader in maritime transportation and logistics, signed a landmark Murabaha agreement with Alinma Bank to secure financing to support its fleet modernization program.

Basil Abulhamayel, chief financial officer at Bahri, and Jameel Al-Hamdan, chief corporate banking group at Alinma Bank, signed the agreement on behalf of their respective organizations. Senior executives from both sides were present at the signing ceremony.

Under the terms of the agreement, Alinma Bank will extend a credit facility worth SR2.8 billion ($756 million) to partially finance the purchase of nine state-of-the-art very large crude carriers intended to streamline the process of phasing out older vessels. The move will further strengthen Bahri’s position as a global leader in maritime logistics and transportation.

Commenting on the agreement, Abulhamayel said: “We are delighted to partner with Alinma Bank to finance one of our significant fleet modernization drives. The enhanced financial capabilities from this collaboration will fuel our efforts to improve our overall fleet competitiveness that will lead to enhancing the company’s revenues and profitability, aligning with our long-term strategic goals. With these strengthened capacities, we are confident in supporting the Kingdom’s vision to become a global leader in maritime and logistics in line with Vision 2030.”

Al-Hamdan said: “We are pleased to finance one of Bahri’s key strategic vessels acquisitions in recent years. This collaboration aligns with our ongoing commitment to Vision 2030 and supports our strategic initiatives to enhance Alinma Bank’s position as the preferred financial partner for the public and private sectors.”

Strategic fleet modernization has always been a core focus of Bahri’s strategy. Leveraging the Kingdom’s strategic location, the company has been actively expanding into new sectors and global markets.

Dubai summit advances women’s leadership in business

Dubai summit advances women’s leadership in business
Updated 22 October 2024
Arab News
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Dubai summit advances women’s leadership in business

Dubai summit advances women’s leadership in business
Updated 22 October 2024
Arab News

The fourth edition of the Middle East Women Leaders Summit and Awards kicked off on Oct. 22 and will run until Oct. 23 in Dubai. The forum marks the evolution of contemporary leadership and inspires the next generation of women leaders, with the participation of local and regional speakers, panelists, financial experts, and business thought leaders.

This year, the experts are discussing the most important topics related to women’s empowerment, including: challenges and opportunities for empowering women, empowering women leaders for global leadership development through cultural exchange and dialogue, healthcare equity ensuring all have access to care through policy and community support, the pivotal role of women leaders in shaping future tech, driving innovation and fostering inclusivity and growth opportunities, HR women leaders’ role in guiding change, while increasing women’s hiring, empowering through education and offering training and upskilling to build women’s confidence and leadership skills, work-life challenges for women leaders across age groups, including caregiving, career goals, societal norms, and mental health, the role of women-led businesses in driving economic growth and job creation, initiatives that aim to increase the representation of women in technology leadership roles, and more.

Marwa Al-Mansoori, board member, Abu Dhabi Chamber of Commerce and Industry, said: “Conferences like the Women Leaders Summit are pivotal in advancing women’s empowerment in business. In particular, hearing from successful female entrepreneurs and leaders offers real-life examples of how women can excel in male-dominated industries and achieve leadership roles. These gatherings serve as the perfect opportunity for mentorship, networking, knowledge transfer, and skill-building for all involved.”

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