Lateefa AlWaalan named ‘Entrepreneur of the Year’

Updated 07 May 2015
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Lateefa AlWaalan named ‘Entrepreneur of the Year’

Lateefa AlWaalan, founder and CEO of Yatooq, has been named Saudi Arabia’s “EY Entrepreneur Of The Year (EOY) 2015” by an independent panel of judges at the EOY event.
The event was held under the patronage of Dr. Tawfiq Al Rabiah, minister of commerce and Industry, the Strategic Partner of the event.
Lateefa was chosen from a group of 11 finalists from 10 companies, each a dynamic and gifted business leader. The award was presented yesterday evening at a gala dinner.
The event was sponsored by Eye of Riyadh,  Riyadh Bank and Endeavour Saudi.
Fahad Altoaimi, office managing partner, Riyadh and Entrepreneur of the Year leader, EY, says: “We congratulate Lateefa on being named Saudi Arabia’s EY Entrepreneur Of The Year 2015.”
He added: “Lateefa truly deserves this award which honors her business achievements, innovation and contribution to her community. Lateefa will join the Entrepreneur Of The Year award winners from over 50 countries at Monte Carlo in June 2015, where she will be inducted into the World Entrepreneur Of The Year Academy and will vie for the World Entrepreneur Of The Year award.”
The independent judging panel comprised: Abdallah Obeikan, CEO of Obeikan AGC Co. Ltd; Abdulaziz Al-Omran, co-founder, a member of the board of trustees and chair of the Riyadh Chapter of Oqal; Abdul Rahman Ibrahim Alrowaita, managing director and general manager — Aseer Company; Ali Al-Othaim, chairman of the National Committee of Young Businessmen Council of Saudi Chambers; Fahad A. AlKassim, chairman of Amwal Financial Consulting; Khlood Abdulaziz Aldukheil, founding partner and an executive transactor at MKD Financial and Business Advisory; Mohammad A. Abunayyan, chairman of the Board of ACWA Power International.
Lateefa was chosen by the independent panel of judges after an extensive process of evaluation.
The judging process was based on numerous criteria that included entrepreneurial spirit, financial performance, strategic direction, social impact and influence.
The program celebrates the success of entrepreneurs who build and lead successful, growing and dynamic businesses.
 The event has been running for 28 years by EY in 145 cities across 60 countries.
The EOY awards recognize outstanding entrepreneurs for their vision, innovation, courage, and leadership in building and growing successful businesses — businesses that influence the way we live, the products and services we depend on, and the economic vibrancy of our local communities and global markets.


UN compensation panel pays out $270m for Kuwait oil company

Updated 23 July 2019
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UN compensation panel pays out $270m for Kuwait oil company

  • The panel has approved 1.5 million claims brought by over 100 governments and international organizations
  • Some $3.7 billion of its $14.7 billion claim for oil production and sales losses resulting from damage to the country’s oil fields remains to be paid

BERLIN: A United Nations panel that oversees compensation claims stemming from Iraq’s 1990-1991 invasion of Kuwait says it has paid out $270 million to Kuwait’s national oil company.
The Geneva-based UN Compensation Commission said Tuesday the tranche brings to $48.7 billion the amount it has paid out. Iraq must currently set aside 1.5% of proceeds from oil exports for the compensation fund and payments are made once per quarter.
The panel has approved 1.5 million claims brought by over 100 governments and international organizations, with all but one fully paid out.
The remaining claim, which includes the latest payment, comes from the Kuwait Petroleum Corporation. Some $3.7 billion of its $14.7 billion claim for oil production and sales losses resulting from damage to the country’s oil fields remains to be paid.