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Gulf Business
14 minutes ago
- Gulf Business
UAE Central Bank penalises exchange firm over anti-money laundering failure
Image: UAE Central Bank The The action was taken under Article (14) of Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations, following an examination by the CBUAE that revealed significant compliance failures. In a statement, the CBUAE reaffirmed its commitment to maintaining the transparency and integrity of the exchange house sector. The regulator emphasised its supervisory mandate to ensure that all licensed exchange houses, their owners, and employees adhere to the UAE's laws and the standards it has established to protect the country's financial ecosystem.
Arabian Business
15 minutes ago
- Arabian Business
RED Summit explores design ideas and forges connections for Vision 2030
The 17th Real Estate Development (RED) Summit Saudi Arabia | Europe Edition, hosted by GBB Venture, took place in Lisbon, Portugal. Themed – Connecting Beyond Boundaries, the two-day event featured some of the most prominent personalities from Saudi Arabia's real estate sector. Held at the Lisbon Congress Centre's RIO Pavilion, the summit featured the Kingdom's key decision makers exchanging ideas and exploring themes with some of Europe's leading minds in design, construction, and hospitality, in line with Vision 2030. Day 1 – Technology, innovation and design The 17th edition of the event opened with a welcome address by Ravi Kumar Chandran, Founder & MD of GBB Venture. The address highlighted the organiser's milestone achievement of 25 successful events, followed by a speech by Rui Lourenço Pereira, Deputy Director at Commercial Department of AICEP (Portuguese Trade & Investment Agency), who shared a message of cross-continental partnership, setting the tone for a summit rooted in collaboration. What followed was a series of fast-paced, thought-provoking sessions that spotlighted bold innovations shaping the future. Ron Bakker, Founding Partner at PLP Architecture, shared visionary insights from 'The Edge,' a smart, sustainable office building redefining how we think about workspaces. Pablo Vidarte, CEO of BIOO, introduced groundbreaking technologies including soil-powered batteries and bioluminescent plants, merging nature and innovation. Tetyana Kovalenko, CEO of Elite Stone Group, presented the concept of green luxury with sustainably sourced marble. Dr. Andreas Wieser of Smart United GmbH emphasised the critical role of indoor air quality in real estate development. Shifting the focus to the Middle East, Ali Al Ghamdi, Transformation Consultant at OSUS, explored the dynamic transformation of Saudi Arabia's hospitality landscape, while Elias Abou Samra, CEO of Rafal Real Estate, examined evolving development models that are reshaping the Kingdom's urban future. The final session before the break featured Christos Passas, Director at Zaha Hadid Architects, who shared innovations in sustainable high-rise design. The session was followed by RED Summit's mainstay on the roster – pre-scheduled one-to-one meetings where connections are forged to explore potential commercial collaborations. Post lunch, attendees gathered for a quick wellness boost with Technogym's energizer session, led by Amâncio Santos, proving that a five-minute fitness fix can do wonders. The schedule featured a series of panel discussions beginning with 'Simplifying Agility,' a panel on building for adaptability in a fast-changing world. Moderated by Daniel O'Brien, Director, Development at Qiddiya, the session brought together Sanjay Tanwani, Regional Director at AECOM, Paul Fraser, Director of Cities and Communities for KSA at AtkinsRéalis, James Passmore representing PIF, and Al. Motasem B. Attiyah, CEO of CLEAR Holding Co. The conversation centered on how flexibility, responsiveness, and strategic design are becoming must-haves in the Kingdom's future-ready developments. The day wrapped with more focused B2B meetings and a sunset drive to Arriba, for a cocktail dinner, with conversations and connections alongside the scenic coastal side. Day 2 – Evolving trends and designs The second day of the event featured a deep dive into Saudi Arabia's evolving real estate landscape. Harmen De Jong, Regional Partner & Head of Consulting at Knight Frank, unpacked key market trends and demand-supply insights shaping the Kingdom's future. The momentum continued with 'Designing the Iconic,' a presentation series where Maximilian Zielinski, Senior Partner at Foster + Partners, Viggo Haremst, Partner & Design Director at Henning Larsen, and Mark Kennedy, Head of Design at MAGNA – NEOM, shared bold visions behind structures designed to last for generations. This was followed by an intense panel discussion: 'Market Dynamics & Mega Events Reshaping the Industry,' moderated by Tala Michel Issa, Chief Reporter at Arabian Business, which featured panelists – Dr. Bassam Boodai, Board Member & Investment Committee Chairman at AL MOZAINI Real Estate and Eng. Abdulaziz Al Zamil, CBDO from Tatweer. The discussion shone a light on the economic and cultural shifts influencing Saudi Arabia's real estate evolution. Post-lunch, delegates returned for the final curated experience, a speed networking session titled – GBB's Delegates-Only Bash. In just under 100 minutes, over 100 developers, designers, consultants, and operators interacted via quick meetings, ending the summit on a strong note of connection and momentum. As the curtain drew on the Europe iteration of the event, the 17th Real Estate Development Summit – Saudi Arabia | Europe edition left behind more than connections, it built momentum. With conversations and strategies underway, the next chapter of real estate is taking shape with new technologies and ideas. The event was supported by APIMA, Ghorfa (Arab-German Chamber of Commerce), Saudi Portuguese Business Council, G-Kreations, AICEP, Saudi Business Council, and AstroLabs.
Gulf Business
15 minutes ago
- Gulf Business
Saudi Broadcasting Authority and US Embassy conclude joint English media training programme
Image: Saudi Press Agency Saudi Broadcasting Authority (SBA) CEO Mohammed Alharthi has honoured participants of a media content creation training programme conducted in collaboration with the US Embassy in Riyadh. The three-week course, held at SBA headquarters, focused on developing English-language media capabilities among SBA personnel. A total of 25 staff members took part in the programme, which aimed to enhance their proficiency in writing, editing, and content creation in English. The initiative also supported participants in strengthening their general language skills, furthering SBA's strategic efforts to expand its international media presence. Read: The programme marks another milestone in the ongoing partnership between SBA and the US Embassy, which continues to support joint training and development opportunities across the media sector.
