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Dubai @en

king Salman named "Islamic personality of the year"

BreakingNews @en di

During a conference press in Dubai, it was named king Salman as islamic personality of the year” by organizing Committee of high profile Dubai International Qa’ran  Award. This award was conferred in presence of panel chairman  Bu Melha. The organing committee has referred to his constantly efforts to preserving Islamic and Muslims heritage and to fighting terrorism. In addition to this, it was stressed involvement of King Salman in humanitarian affairs,thank to Centre for relief for Humanitarian aids and Relief in Jeddah. It is really important to assure conducting humanitarian operations in those areas. Some members of Islamic and Muslims society have also declared King Salman like a anthropologist and philanthropist. He has received several certifications to underline his own ability in interviewing in humanitarian situation ad well and, at the end, he has got different medals from some lands, like Marocco, France, United Nations, Senegal, Bosnia Herzegovina and others.


Offers size in drive to list shares of foreign companies.

BreakingNews @en di

The Saudi Government wants to open petroleum market to foreign investitors giving them the opportunity of becoming partner of this market. Qualified foreign institutions were allowed to invest directly in this market under condition of satisfying some specific aspects. In order to bring more foreign money, the Capital Market Authority has established some guidelines, through which it will be possible for Saudi Companies enter international equity indexes. The purpose of this program is being as competitive as Dubai Market already is, which has already entered international equity indexes and got listing foreign companies. Anyway the Saudi Market is one of the biggest of Gulf Area, so this means companies listing in Saudi Arabia can obtain better trading liquidity for their shares, higher valuations and a larger investor base when they raise fresh capital, he argued. It would be necessary promoting some reforms, which allows increasing the local market. The expectations are to reduce the gap with Dubai. In addition to this, to increase the local and small local companies listings, it was created a parallel market, called NOMU.

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