Tamkeen joins as strategic partner for BlockOn 2018

Khalid Saad, CEO of Bahrain FinTech Bay, left, and Chief Executive of Tamkeen Dr. Ebrahim Mohammed Janahi.
Updated 17 November 2018

Tamkeen joins as strategic partner for BlockOn 2018

Bahrain FinTech Bay has announced the Labor Fund “Tamkeen” as a strategic partner for its global blockchain conference, BlockOn 2018 — Redefining Finance, taking place on Nov. 22, at the Wyndham Grand.

The event will be held under the patronage of Khalid Al-Rumaihi, chief executive, Economic Development Board and chairman of the executive board of Bahrain FinTech Bay.

Tamkeen offers a myriad of financial and training support programs to Bahraini startups and SMEs including newly emerging fintech firms.

The conference expects to attract more than 300 global blockchain innovators and professionals including a diverse group of regulators, entrepreneurs, investors and financial industry executives who will convene to explore the rising opportunities and challenges presented by the industry. 

Chief Executive of Tamkeen Dr. Ebrahim Mohammed Janahi said: “Fintech is already playing a key role in shaping the economic sector. Technological revolutions such as the fintech solution will lay a new foundation for the banking industry for many years to come.”

Khalid Saad, CEO of Bahrain FinTech Bay, added: “Tamkeen plays an instrumental role in helping drive the development of Bahrain’s private sector including the significant number of newly established fintech firms in the Kingdom.”

Motoring extravaganza SIMS 2018 begins in Jeddah

Updated 18 December 2018

Motoring extravaganza SIMS 2018 begins in Jeddah

The Saudi International Motor Show (SIMS) 2018 opened its doors on Sunday at the Jeddah International Exhibition and Convention Center. The annual event, in its 40th year, will continue until Thursday.

The show was inaugurated by Hassan Dahlan, secretary general of Jeddah Chamber of Commerce and Industry (JCCI), in the presence of Hadi Al-Harith, CEO of Al-Harithy Company for Exhibitions (ACE).

The five-day motoring extravaganza, spanning 10,000 square meters of indoor and outdoor exhibition space, will witness the rollout of the automotive industry’s newest models, from the US, Europe, Japan, Korea, and China, and including the latest SUVs and 4x4s, industry-changing electric cars and everything in between.

“In addition to shining the spotlight on the latest and most efficient automobiles and industry-shaping technology, the 2018 Saudi International Motor Show offers an inimitable experience for the whole family, with a plethora of captivating activities and interactions throughout the five days including stunt driving, drifting motorsport events, an off-road experience, and retail areas,” a press release said.

The show will see brand exhibitors showcase 100 automotive vehicles, including eight cars revealed for the first time in Saudi Arabia.

Speaking at the inauguration, Dahlan talked about the “great success” achieved by the motor show in the past 40 years.

ACE CEO Al-Harith said: “SIMS is the oldest and biggest auto show in the region, and the 2018 edition will ensure that it maintains that position. There is a huge demand in the Saudi market for an international motor show and we look forward to delivering a unique experience.”

He added: “As Saudi Arabia’s premier automotive event, the Saudi International Motor Show is the only place car fans, young and old, will get up close to some of the latest glamorous cars set to be hitting roads around the world in the near future.”

The Jeddah Traffic Department is also participating in the show, with the aim to spread its message to both male and female drivers. Officials from the department will spread awareness about traffic laws and regulations, the importance of following them and the consequences of violations.

The show opens daily from 4 p.m. until 11 a.m.

Saudi Arabia is currently the largest importer of vehicles and auto parts in the Middle East, accounting for nearly 40 percent of all vehicle sales in the region. New car sales are slated to rise by 8-9 percent annually, crossing the 1 million mark by 2020.

Presently, the light commercial vehicle segment is the most dominant, accounting for majority of the overall commercial vehicles sold in Saudi Arabia, followed by medium-heavy commercial vehicles and buses.