EY launches Jeddah CFO Forum

Updated 16 March 2016
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EY launches Jeddah CFO Forum

EY recently hosted the inaugural session of the Jeddah CFO Forum in Jeddah. The forum was attended by CFOs from some of the largest companies in the Kingdom.
Ahmed Reda, office managing partner, EY Jeddah, says: “The introduction of VAT is a major fiscal reform. The volume, pace and complexity of these new taxes and the changes they bring can be overwhelming. CFOs need to be ready to address them. They also need to be updated on trends, including new technologies such as the Internet of Things, digital disruption, and the fast pace of market globalization.”
He added: “Tax knowledge and preparation must underpin strategic planning in the digital world, so that companies can make decisions that produce the right results. CFOs can increase their opportunity to deliver value to their business by taking a collaborative, enterprise-wide approach that combines tax with law, operations, technology and transactions.”
Reda said: “Our objective through the Jeddah CFO Forum was to inform CFOs on what lies ahead, share leading practices and discuss the trends and issues that will define the future of their businesses.”
The discussions at the forum were led by Finbarr Sexton, MENA indirect tax leader at EY, who spoke on the implementation of VAT in the GCC. Joanna Truffaut, MENA advisory digital and innovation government and public sector leader at EY, gave a presentation on the digital megatrend and
its impact on business strategy, and Philip McCrum, MENA head of economic advisory at EY presented a session on the GCC economic update and overview.


Bahri’s maritime solutions on show

Updated 20 February 2019
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Bahri’s maritime solutions on show

Saudi shipping company Bahri is demonstrating its commitment to advancing the growth of maritime industry and improving security in the logistics business at the International Defense Exhibition (IDEX) and Naval Defense and Maritime Security Exhibition (NAVDEX).

The events are being held under the patronage of Sheikh Khalifa bin Zayed Al-Nahyan, president of the UAE and supreme commander of the UAE Armed Forces in Abu Dhabi from Feb.17-21.

Khaled bin Hussain Biyari, assistant minister of defense — executive affairs; General Awwad Eid Al-Balawi, director general of Saudi Arabian Border Guards; and other officials visited Bahri’s booth during the events.

As part of its participation, Bahri is showcasing its maritime capabilities and innovation-driven solutions at the largest defense expo in the Middle East. The company is also highlighting its unmanned surface vessels (USVs) at its booth. Powered by MAP Pro technology, which transforms any vessel into an autonomous one, Bahri’s USVs are capable of numerous applications, including gathering data, surveillance and reconnaissance. In addition, the vessels offer significant cost savings and reduce human workload in high-risk operations. 

Bringing together more than 1,310 specialized companies from 62 countries, both events offer a strategic business platform for exhibitors to present their latest naval, maritime and coastal security technology, equipment and crafts, and explore partnership opportunities with local and international companies. 

Abdullah Aldubaikhi, CEO of Bahri, said: “Events such as IDEX and NAVDEX provide a unique opportunity to gather new insights into new security technologies that can help companies thrive in a safe and secure trade. With Saudi Arabia being at the forefront of efforts aimed at maintaining stability and security in the region, maritime security is a key focus area for the Kingdom.” 

Aldubaikhi added: “Bahri’s presence at IDEX and NAVDEX 2019 is part of our strategy to further strengthen our offerings to enhance the Kingdom’s maritime capabilities and support its transformation as the world’s leading logistics hub. The exhibition also provides us with an excellent platform to connect with our customers and explore new partnership opportunities that will further drive our ambitious expansion plans.”

Bahri Logistics, one of the five business units within Bahri and one of the top 10 breakbulk carriers in the world, operates six new state-of-the-art multipurpose vessels that are capable of carrying different types of cargo, including project, ro-ro, breakbulk, equipment, and container cargo.