4 years ago
Saudi: New insurance policy introduces option of repairing damaged vehicle
The Saudi Central Bank (SAMA) has introduced new amendments to the Unified Compulsory Motor Insurance Policy, allowing an option of repairing the vehicle instead of getting cash compensation. SAMA clarified that these amendments include the policy definitions and its appendixes in accordance with the ongoing developments of the Insurance Industry, as well as updating the exceptions and transferring some of the rights of recovery cases. The amendments also allow for an option where the third party is entitled to choose between direct cash compensation, or getting the damaged vehicle repaired. The updates come as part of SAMA’s endeavour to efficiently develop and facilitate traffic claim settlement procedures and to protect the rights of the parties of the insurance contract. It comes based on the authority vested in SAMA according to the Insurance Control Law as well as in line with its continuous efforts to develop the insurance sector and to protect the rights of the insured and the beneficiaries of the insurance coverage.
4 years ago
Saudi seeks to amend private education regulations to attract top institutions abroad
Saudi Arabia is working on legislation to amend the country’s education regulations to attract the world’s top educational institutions to open branches in the Kingdom. The Ministry of Education, represented by the Agency for Private University Education, is reviewing executive and organizational rules of the Private University Education Regulations. It aims to increase foreign investment opportunities in preparation for attracting the world’s top institutions and to facilitate the opening of their branches in the Kingdom. The initiatives are under the umbrella of the university system, which will contribute to a strategic transformation in line with Saudi Arabia’s Vision 2030 objectives. As part of its overall strategy, the ministry wants to increase private sector involvement and attract foreign investments, which will have a role in improving the outputs of university education and entering global competitiveness. The ministry’s initiatives reflect the size of the anticipated returns on educational economic growth rates. According to the most recent statistics released by the Statistics Center of the ministry, the total number of students enrolled in private colleges and universities has reached 86,000 in 15 universities and 42 licensed private colleges in the Kingdom. This includes nine non-profit universities. There are a total of 409 academic […]
4 years ago
American University of Bahrain Recognised by Kingdom of Saudi Arabia
The Ministry of Education in the Kingdom of Saudi Arabia has included the American University of Bahrain (AUBH) among the recognized universities for Saudi students to enroll in after the General Department for Certificate Equivalency in the Ministry decided to recognize the University and the qualifications it offers to its students in undergraduate and postgraduate programs. This is evidence that the University has achieved advanced stages in terms of the quality of education it offers and its fulfillment of international standards, according to international classifications, and the completion of the University’s infrastructure, which makes it a worthy recipient of recognition. In this regard, Her Excellency Dr. Shaikha Rana bint Isa bin Duaij Al Khalifa, Secretary-General of the Higher Education Council, Deputy Chairman of the Board of Trustees of the Higher Education Council, affirmed that this recognition confirms the quality of education provided by the University to students, and enhances its scientific and academic reputation at the local, Arab, and international levels. She also added that the recognition of Bahraini universities by Arab countries highlights the distinguished reputation of the higher education sector in the Kingdom of Bahrain. This recognition enhances the efforts made by the Higher Education Council to support […]
4 years ago
Saudi Arabia to experience thunderstorms on Thursday
Most regions of Saudi Arabia will witness thunderstorms on Thursday and the inclement weather will continue for several days. The center’s forecasts indicate that rain will begin on the heights of Asir, Jazan, Al Baha, Makkah and Madinah regions. After that, the rain will extend eastward of the Kingdom, including the regions of Najran, Al-Qassim, Hail, Riyadh, and the Eastern Region, the center confirmed. The center noted that it will also include parts of the Northern Border regions and Al-Jouf.
5 years ago
Unfolding the ambitious vision of the Red Sea Project
Gulf Insider interviews Ahmad Darwish, Group Chief Administrative Officer of the Red Sea Development Company. What is the Red Sea Project (TRSP)? We wanted to create a destination that is luxurious but regenerative at the same time. It is 28,000 square kilometers in size – the size of a country. The objective is to set new standards for sustainable development and position Saudi Arabia on the global tourism map. It has been in preparation for the last five years, and now is in its implementation phase where the customers are beginning to see this vision come into reality. Where did the idea come from? Why did you decide develop this area into a tourist destination? The area we were tasked with developing, and protecting at the same time, naturally lends itself to tourism in terms of its weather, it’s beauty, and the diversity of landscapes and activities that can be enjoyed. We started looking at the natural assets and resources in the Kingdom, brainstormed how we can develop around these assets, and at the same time protect them. We wanted to enhance the life of the people around this area and present a definite positive impact. Approximately 75% of the […]
5 years ago
Audi in Saudi: Rally Adventure
Charlie Cooksey checks into Saudi Arabia for the Dakar Rally with Audi Middle East Recently, I was delighted to be invited by Audi Middle East to the Dakar Rally being held in Saudi Arabia. The Dakar Rally (formerly known as the “Paris–Dakar Rally”) is the annual, and greatest ever, off-road motor endurance event. Most events since the inception in 1978 were staged from Paris, France, to Dakar, Senegal, but due to security threats in Mauritania, which led to the cancellation of the 2008 rally, events from 2009 to 2019 were held in South America. From 2020 to 2022 the rally has been held in Saudi Arabia. From 2023, the rally is expected to take place entirely in Qatar, Saudi Arabia and the UAE. The rally is open to amateur and professional entries, amateurs typically making up about eighty percent of the participants. This was my first ever visit to Saudi Arabia and I was excited to see the country, after having lived in the Middle East for 5 years, and visiting for over 20 years. I was especially excited over the last few years to visit Saudi with its huge tourism development, the growth and buzz of Riyadh, and all the huge other events happening there. The energy and vibe of Saudi Arabia is […]
6 years ago
Saudi confirms 4 COVID-19 deaths, 255 new cases
Saudi Arabia recorded four new COVID-19 related deaths on Thursday, raising the total number of fatalities to 6,379. The Ministry of Health confirmed 255 new confirmed cases reported in the Kingdom in the previous 24 hours, meaning 368,329 people have now contracted the disease. Of the total number of cases, 2,111 remain active and 371 in critical condition.
6 years ago
Bahrain Raid Xtreme, Samsung partner for maiden Dakar Rally 2021
Bahrain Raid Xtreme (BRX) has announced a new partnership with Samsung as the team embarks on its first Dakar Rally, one of the most extreme motorsport events in the world. Samsung Brand Memory is an Official Partner of both Bahrain Raid Xtreme and its Spanish Driver, two-time Dakar Rally winner, Nani Roma. Nine-time World Rally Champion, Sébastien Loeb, from France completes BRX’s driver line up. The partnership will see Samsung provide the most innovative and iconic materials in their portfolio – internal and external SSD, MicroSD cards and USBs – to enhance the performance of the team.
6 years ago
Interview with Neal Coupland, Sports Partnership Director at NEOM
Earlier this year, NEOM entered a long-term partnership as Principal Partner of the Mercedes-Benz EQ Formula E Team (MBFE). The partnership will serve to drive knowledge transfer and development of sustainable technology and mobility in alignment with Saudi vision 2030. We talked to Neal Coupland, Sports Partnership Director at NEOM to know more. What was the vision behind the NEOM-Mercedes-Benz EQ’s partnership?The NEOM-Mercedes-Benz EQ partnership is founded on a shared vision to pursue pioneering ideas, accelerating our bold ambitions to create a land of the future where the greatest minds are empowered to exceed boundaries. We are excited to be working with an organisation with such a rich heritage in sport who share our values, championing sustainability in support of the world’s first net carbon zero sport and leading advances in technology and engineering, seeking to pioneer the at-scale use of electric vehicles in everyday life. With the announcement of the partnership, development programs were outlined. How will these contribute to the global sports landscape and the region’s positioning? At NEOM one of major aims is to inspire a community of pioneers and nurture the next generation of talent. The partnership with Mercedes-Benz EQ will provide vital knowledge sharing opportunities […]
6 years ago
Equity markets – A ray of opportunity in turbulent times?
Patrik Lang, Head of Equity Research and Strategy, Bank Julius Baer In March, within a few weeks, the outbreak of the coronavirus led to an unprecedented sell-off on global equity markets, with the S&P 500 dropping 35%. From mid-March onwards, the S&P 500 started an equally spectacular rally, with the S&P 500 gaining almost 50% within less than three months. This came as a surprise to many analysts as fear of a second wave of infection are widespread. In addition to this, many economists only expect an anemic recovery. Equity markets – what to expect Against this backdrop, many investors are anticipating a second market crash. In our view, a major correction is rather unlikely because the economic recovery has already begun and a second wave of infection is unlikely to lead to a general lockdown because most countries will be better prepared for the second wave than they had been for the first one. Countries like Taiwan and South Korea have proven that testing and tracing is a much more efficient way to deal with the pandemic than locking down entire economies. It can be assumed that most countries will follow this example at least as long as no […]
