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Search Results for: Saudi Arabian

10 results out of 444 results found for 'Saudi Arabian'.

DEFENCE AND SECURITY GRAFT A RISK IN 62% OF COUNTRIES



Nearly two-thirds of 86 countries assessed worldwide face a high to critical risk of corruption in their defence and security sectors, according to the 2020 Government Defence Integrity Index (GDI) (1) that the Transparency International defence and security programme published November 16.…

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PETROFAC FINED GBP77 MILLION OVER MIDDLE EAST BRIBES



Oil-service provider Petrofac is to pay out a total GBP77 million (USD104.6 million) after pleading guilty to seven separate counts of failure to prevent bribery to win over GBP2.6 billion (USD3.5 billion) in Middle East contracts. In a case brought by the UK Serious Fraud Office (SFO), Her Honour Judge Deborah Taylor October 4 sentenced the Jersey-based contractor in Southwark Crown Court to pay GBP47,197,640 (USD64,208,613) in fines, a GBP22,836,985 (USD31,066,704) confiscation order plus the SFO’s GBP7 million (USD9.5 million) costs.…

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ITALY’S FOOD CAN MARKET SHOWS RESILIENCE AMID CONTINUED SUPPLY CHAIN AND PANDEMIC DISRUPTION



Global supply chain delivery delays and price tensions continue to disrupt Italy’s otherwise robust food can production sector. With profit margins squeezed, food canners expect prices to rise across the board for these long shelf-life food staples

According to Italian can manufacturing industry association ANFIMA’s most recent data, Italy produced 698,523 tonnes of rigid metal packaging (tinplate and steel) and 24,745 tonnes of aluminium packaging in 2020, up 3.6% and 7% from the same period the previous year, respectively.…

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PORTUGUESE HALAL MARKET GROWING TOWARDS SUSTAINABLE AND SIGNIFICANT FUTURE



The food halal market for Portugal, a largely Christian country that was in the early Middle Ages part of the Muslim world, has been expanding, serving a growing local Muslim community and Muslim tourists keen to taste Portuguese food.

Between 711 and 1249, most of Portugal was under Muslim rule, which influenced its language and culture.…

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PETROFAC FINED GBP77 MILLION OVER MIDDLE EAST BRIBES



Oil-service provider Petrofac is to pay out a total GBP77 million (USD104.6 million) after pleading guilty to seven separate counts of failure to prevent bribery to win over GBP2.6 billion (USD3.5 billion) in Middle East contracts. In a case brought by the UK Serious Fraud Office (SFO), Her Honour Judge Deborah Taylor October 4 sentenced the Jersey-based contractor in Southwark Crown Court to pay GBP47,197,640 (USD64,208,613) in fines, a GBP22,836,985 (USD31,066,704) confiscation order plus the SFO’s GBP7 million (USD9.5 million) costs.…

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THE ARAB COUNTRIES BETWEEN SOCIALISM AND ECONOMIC LIBERALISM



Many friends ask me why, as a businessman and investor controlling pioneering projects, why I am concerned with politics? I always answer that my experience has taught me that the key to progress lies in politics, and this is especially true in Arab countries, where, frankly, politics is everything. …

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GOVERNMENTS TIGHTEN UP TOBACCO AGE LIMIT LAWS, ALTHOUGH IMPLEMENTATION IS OFTEN A PROBLEM



 

WHILE the imposition of age limits on the consumption of tobacco and other nicotine products remains very much a national, and in some cases sub-national jurisdiction decision, there is no doubt that the general trend worldwide is for tighter restrictions on younger consumers, even if they are often tough to enforce.…

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FOSSIL FUEL-RENEWABLES BALANCE IN GULF OFFERS ACCOUNTANTS OPPORTUNITY TO FLEX DIVERSE SKILLS



Young and aspiring accountants might balk at the idea of working in the Gulf Cooperation Council (GCC) region’s oil and gas sector. A connection to hydrocarbons amid growing societal pressure to de-carbonise economies can, in some circles, attract criticism.

But for GCC accountants, the ability to combine financial reporting with every increasing sustainability assessment tool, means oil and gas might be a good long term career bet.…

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WASHINGTON SHOULD WORK WITH ARAB STATES TO SECURE PEACE WITH IRAN - KEEPING CHINA AND RUSSIA AT BAY



President Joe Biden may think he has three main foreign policy priorities this year – China, Russia and Iran – but the truth is, as far as the Middle East is concerned, all these challenges roll into one.

That is because both China and Russia are seeking increased influence in the Middle East, and hoping for potential missteps from the USA over the Iran file to leverage their diplomatic positions.…

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WOMEN IN ACCOUNTING A TOP PRIORITY FOR SAUDI ARABIA



Saudi women are taking up professional roles unimaginable a few years ago, and that includes in accounting, a trend encouraged by the government. A new women’s accountancy programme was launched in March (2021) by the Saudi Organization for Certified Public Accountants (SOCPA), supported by the ministry of commerce.…

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