Proven track record of guiding employees with vision and inspiration

Proven track record of guiding employees with vision and inspiration
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Updated 08 May 2022

Proven track record of guiding employees with vision and inspiration

Proven track record of guiding employees with vision and inspiration

Mohammed Almowkley is the CEO of Matarat Holding Co., a property of the Saudi General Authority of Civil Aviation.

Almowkley is also the current head of the National Water Company, a position he has held since March 2017.

The Saudi Matarat Holding company appointed Mohammed Almowkley as its new CEO in January 2022.

With 25 years of experience, Almowkley has a proven track record of motivating and guiding employees with vision and inspiration.

He won the Arab Government Excellence Award in 2019.

Founded in 2013, the company, previously known as Saudi Civil Aviation Holding Company, was established to operate and handle the commercial activities and investments of the civil aviation authority and own the strategic business units privatized by the administration. 

On Feb. 9, 2022, the General Authority of Civil Aviation and Matarat Holding Co. completed the institutional transformation of 25 of the Kingdom’s airports and launched Jeddah Airports Co.

The announcement of the institutional transformation of airports to the private sector came with the royal decree to separate the legislative aspects from the operational ones.

It articulated the practical steps to achieve the objectives of the civil aviation sector strategy in developing Saudi airports, raising their operational efficiency, and providing the most satisfactory services to the passengers.  


Al-Dhaher appointed SAMA’s deputy governor for control and technology

Al-Dhaher appointed SAMA’s deputy governor for control and technology
Updated 11 sec ago

Al-Dhaher appointed SAMA’s deputy governor for control and technology

Al-Dhaher appointed SAMA’s deputy governor for control and technology

RIYADH: The Saudi Central Bank has appointed Khaled Al-Dhaher as deputy governor for control and technology at the excellent rank, according to the Saudi Press Agency. 

Khaled Al-Dhaher

Al-Dhaher has vast experience in technology and banking solutions industries. He also served as the country managing director for Saudi Arabia at the IT company Accenture.
He did a Ph.D. in computer science and engineering from the University of Illinois at Urbana-Champaign.


Saudi banks’ real estate lending grows to $161bn in Q1

Saudi banks’ real estate lending grows to $161bn in Q1
Updated 28 min 34 sec ago

Saudi banks’ real estate lending grows to $161bn in Q1

Saudi banks’ real estate lending grows to $161bn in Q1
  • 79% of the loans were issued to individuals, remaining 21% constituted corporate loans: SAMA

RIYADH: Saudi banks’ real estate lending witnessed a year-on-year increase of SR131 billion ($34.9 billion) to SR605.5 billion in the first quarter of 2022, from SR474.5 during the same period last year, according to latest figures released by the Saudi Central Bank, also known as SAMA.
 Data compiled by Arab News shows a 27.6 percent year-on-year growth in total real estate lending, but the growth rate has slowed in comparison to 44.1 percent in the same period last year.


On a quarterly basis, the total loan credit increased by SR36.7 billion, or 6.4 percent in the first quarter of 2022 from SR568.9 billion in the fourth quarter of 2021. The loan credit has grown for the 15th consecutive month. 

In the breakdown of real estate loans — 79 percent of the loans were issued to individuals, and the remaining 21 percent constituted corporate loans.
On an annual basis, the retail segment showed a 33 percent year-on-year increase while corporate loans grew 11 percent.

Additionally, the total value of real estate loans given to individuals witnessed a quarterly growth of 6.8 percent to SR476.2 billion, while corporate loans increased by 5.1 percent over the same period.


Over the past two years, the corporate loans experienced a decline of 10 percentage points in terms of their share in the total real estate lending by Saudi banks. It would be pertinent to mention here that any percentage lost in the corporate sector means a percentage gained in the retail segment.
Regardless, corporate loans seem to be on the rise — as they have grown 3.2 percentage points in this quarter. This is a 5.1 percent growth in the first quarter of 2022 against 1.9 percent growth recorded in the fourth quarter of 2021.
On the other hand, retail loans experienced a slight decline in growth rates, from 8 percent in the last quarter to 6.8 percent growth in the first quarter of 2022.
The outstanding balance of real estate loans provided by Saudi banks rose 6 percent quarter-on-quarter, SAMA data revealed.


Saudi edtech startup AlGooru raises $1.8m in seed funding

Saudi edtech startup AlGooru raises $1.8m in seed funding
Updated 03 July 2022

Saudi edtech startup AlGooru raises $1.8m in seed funding

Saudi edtech startup AlGooru raises $1.8m in seed funding

RIYADH: AlGooru, a Saudi-based edtech startup, raised $1.8 million in a seed funding round with participation from Saudi venture capital firms, RAZ Group, RZM Investments, 100 Ventures, and RAY Investments.

The company provides an educational platform for students to easily connect with a pool of private tutors.

“Our team is rapidly expanding and through the wealth of data that we’ve accumulated, we know what the market needs and how we can capitalize on it,” Omer Awad, founding member and head of product, said in a statement.

Founded in 2021, the company is planning to utilize its funding by widening its offerings as well as expanding further in the Kingdom, MAGNiTT reported.

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TASI finishes H1 5% higher despite recent losses, market fears

TASI finishes H1 5% higher despite recent losses, market fears
Updated 03 July 2022

TASI finishes H1 5% higher despite recent losses, market fears

TASI finishes H1 5% higher despite recent losses, market fears

RIYADH: The Tadawul All Share Index managed to end the first half of 2022 higher than the previous year, despite market fears that have surfaced recently as investors’ optimism was dampened by interest rate hikes.

Saudi Arabia’s main index increased 4.9 percent during the first half of 2022 to close at 11,523, an increase of 539 points from the same period last year, the Saudi Exchange reported.

Total equity market capitalization grew 17.72 percent to reach SR11 trillion ($3 trillion) at the end of the first half.

The share trading value dropped 22.5 percent to SR1 trillion for the same period, while the total number of volumes traded fell 41.96 percent to 25.3 billion shares.

The total number of transactions executed in the first half decreased 10 percent to 46.97 million from 52.19 million a year earlier.

A total of 124 trading days were recorded during the first half of 2022, compared to 125 during the same period in 2021.

 


TASI ends lower, expanding June losses: Closing bell

TASI ends lower, expanding June losses: Closing bell
Updated 03 July 2022

TASI ends lower, expanding June losses: Closing bell

TASI ends lower, expanding June losses: Closing bell

RIYADH: Saudi stocks ended their first trading session of July in red, expanding on the market’s 11 percent loss in June as investors' optimism was dampened by the fear of interest rate hikes.

As of Sunday’s closing bell, TASI fell 0.51 percent to reach 11,464, while the parallel market, Nomu, plunged 2.33 percent to 21,082.

This was led by a 0.39 percent decline in Saudi Aramco, the largest player on the Saudi oil market, and a 2.55 percent drop in the Kingdom’s largest valued bank Al Rajhi.

Saudi National Bank, one of the Kingdom’s biggest lenders, added 0.91 percent, after announcing SR4.92 billion ($1.31 billion) in dividends for the first half of 2022.

Wafrah for Industry and Development Co. lost 6.82 percent to lead the fallers, followed by Al-Baha Investment and Development Co., which fell 6.04 percent.

Abdullah Al Othaim Markets Co. edged up 2.13 percent, following the news that its mall unit had canceled its initial public offering.

Al Moammar Information Systems Co. added 0.74 percent, after being awarded SR34 million ($9 million) by Saudi Co. for Comprehensive Technical and Security Control as well as SR21.9 million by King Abdulaziz City for Science and Technology.

Oil prices closed Friday with US West Texas Intermediate crude at $108.43 per barrel and Brent crude at $111.63 per barrel.