UNDP backs Saudi geospatial and marine surveys

Updated 02 April 2014

UNDP backs Saudi geospatial and marine surveys

The UN Development Program (UNDP) and the General Commission for Survey (GCS) have signed a capacity development project with the main objective of developing national capacities in conducting geospatial and marine surveys and the production of maps, marine navigational electronic and paper systems as well as geospatial information.
UNDP confirmed that the one-year project embraces ambitious objectives to support the government in its efforts to promote the national development through greater efficiency in producing and marketing geo-spatial survey products and services.
These aspects are conceived to fall within the overall mandate of GCS in improving the balanced regional development and enhancing the competitiveness of the national economy as excellence in hydrographical surveys would certainly add up to the present strengthens of the Kingdom.
The project is also expected to mobilize expertise and purchase technically sophisticated survey equipment and devices for the marine hydrographical surveys at the Red Sea and the Gulf of Aqaba area.
In its subsequent phases, the project will engage the advisory services of the International Maritime Organization (IMO) and the International Hydrographical Organization (IHO). It is viewed by GCS as part of its intent to advance the hydrographic science in Saudi Arabia.
Moree Hassan Al-Shahrani, president of The General Commission for Survey and Firas Gharaibeh, deputy resident Representative of UNDP, signed the agreement.


Natixis opens investment banking office in Saudi Arabia

Updated 31 May 2020

Natixis opens investment banking office in Saudi Arabia

  • Western financial institutions have been seeking opportunities in Saudi Arabia

DUBAI: French investment bank Natixis has opened a corporate and investment banking office in Saudi Arabia’s capital Riyadh and appointed former JPMorgan banker Reema Al-Asmari as its chief executive officer, the bank said on Sunday.
Western financial institutions have been seeking opportunities in Saudi Arabia since the government unveiled plans to privatize state assets and introduced reforms to attract foreign capital under its Vision 2030 program to reduce the economy’s dependence on oil.
“By establishing a local presence, Natixis aims to deepen its relationships with its existing clients, including corporates, sovereign wealth funds and financial institutions, and to serve new clients, including family offices,” Natixis said in a statement.
The bank’s office, located in Al Faisaliah Tower, will offer “tailor-made capital markets products and investment banking services.”
Al-Asmari, who joined Natixis last August as an adviser to the bank’s Dubai branch, will continue to report to Simon Eedle, Natixis Corporate & Investment Banking’s regional head for the Middle East.
Eedle said in a statement that the bank’s commitment to the Middle East dated back more than 20 years and he believed its areas of expertise were closely aligned with the needs of clients in the region. “This is very much the case for the Kingdom of Saudi Arabia, notably in the context of Vision 2030,” he said, adding it was a “pivotal time” for the kingdom.