Basil Al-Ghalayini, CEO of BMG Financial Group, has confirmed that BMG will host the first major international business conference focused on Saudi Arabia’s Vision 2030 — the brainchild of Crown Prince Mohammed bin Salman — at Cambridge University in the UK on Sunday and Monday.
Al-Ghalayini said: “BMG’s annual business forum provides a platform for business leaders to interact on matters related to exploring Saudi Vision 2030, and the opportunities it holds for UK businesses including: key high growth sectors in the Saudi economy, conversion and listing family businesses via the newly launched Nomu market, and wealth creation advice.”
This conference forms part of BMG’s summer retreat which commences with a concert on Sunday evening, in Cambridge, UK.
The concert, in aid of Syria Relief, aims to bridge East and West through music. In the historic surrounds of King’s College chapel, Riyad Nicolas will perform both eastern and western classical music.
The retreat is rounded off with a friendly polo match between Saudi and British teams captained by Prince William. The BMG GCC Polo Cup was born of a conversation between Prince Charles and Al-Ghalayini in the 90s. On realizing a need for more cultural and sporting interaction between Saudi Arabia and the United Kingdom, Al-Ghalayini took it upon himself to create a platform on which this could take place, whilst simultaneously supporting noble causes.
Underlying the whole event is charitable giving. As well as Syria Relief and Prince William’s charities, the summer retreat supports BMG Foundation’s key charitable initiatives — BMG Foundation’s safe driving, water conservation and health awareness campaigns.
BMG Foundation has been bridging East and West through sport, music and art for over 20 years. In a world that constantly reminds us of our differences and what sets us apart, the vision of BMG Foundation is to transcend differences through the common language of culture.
BMG business forum to focus on Saudi Vision 2030
BMG business forum to focus on Saudi Vision 2030
‘Bridgerton’ actress says she was warned not to campaign for Palestinians
- Nicola Coughlan: Hollywood insiders told her advocacy could harm her career
- Irish star feels ‘moral responsibility’ to campaign for ceasefire, continue to fundraise
LONDON: Irish actress Nicola Coughlan has revealed that she was told her Palestinian advocacy could harm her career.
The “Bridgerton” and “Derry Girls” star told Teen Vogue she had been warned by people in Hollywood not to be openly supportive of Palestinian rights, but has continued to campaign for a ceasefire in Gaza and still publicly wears an Artists4Ceasefire pin.
“You do get told, ‘you won’t get work, you won’t do this,’ but I also think, deep down, if you know that you’re coming from a place of ‘I don’t want any innocent people to suffer,’ then I’m not worried about people’s reactions,” she said.
“My family lived in Jerusalem back in the late ‘70s, early ’80s, before I was born, so I heard first hand stories about them living there.”
She said her father, who served in the Irish military, went to a “lot of war-torn regions after the conflict and try and help rebuild,” and this had left a profound impression on her.
“I’m so lucky I’ve gotten to this point in my career, and I’m privileged as a white woman, first off.
“Then the fact that I get to do the job I love and travel the world and meet amazing people, I feel a moral responsibility to give back.”
She has made a point of continuing to campaign and raise money around the issue, adding: “To me, it always becomes about supporting all innocent people, which sounds oversimplified, but I think you’ve got to look at situations and just think, ‘Are we supporting innocent people no matter where they’re from, who they are?’ That’s my drive.”
Coughlan said social media plays a role in driving advocacy but it requires nuance. “More of us should be trying to understand how upsetting and traumatising this is for Jewish people, and how horrific it is that all these innocent people in Palestine are being murdered,” she added.
A number of Hollywood figures have faced repercussions for their open support of the Palestinians or criticism of Israel.
Mexican actress Melissa Barrera was fired from the latest “Scream” film over social media posts in support of Palestine, while director Jonathan Glazer caused controversy for using his acceptance speech at the Oscars for his film “The Zone of Interest” to criticize the Gaza war.
‘Shares on fire’: Pakistan’s key stock index nears 73,000 level after hitting another historic high
- Analysts say the bullish sentiment owes to IMF talks and optimism around Saudi investment, key policy rate cut
- The benchmark KSE100 index has surged by 8,081 points since January, gaining about 80% in US dollar terms
KARACHI: Independent financial experts in Pakistan said on Friday the country’s equity market was on fire as stocks hit another all-time high of 72,739 points amid euphoria surrounding the government’s negotiations with the International Monetary Fund for another loan along with possible Saudi investment and interest rate cut optimism.
The benchmark KSE100 index ended the weekend trading session with a gain of 771.7 points despite a relative decline in the morning. However, the market rebounded in the second half and soared to a new record high, closing at the 72,739 level.
The prevailing positive momentum began at the beginning of the year, making the KSE100 gain 8,081 points since January.
“Pakistan’s share market is on fire,” commented Muhammad Sohail, CEO of Topline Securities. “It is hovering around the 73,000 mark and still soaring.”
Sohail said Pakistani stocks were “leading the pack” with nearly an 80 percent gain in US dollar terms over the past year, maintaining their number one position.
The market on Friday saw selling pressure in the morning but recovered in the second half, mainly due to the fertilizer and banking sectors.
“Initial pressure in the morning session was mainly due to the rollover week,” said Sheheryar Butt, Portfolio Manager at Darson Securities. “Later, the fertilizer sector led the buying spree, helping with the market recovery.”
Other sectors that contributed to the highest ever close included commercial banks, cement and the power sector since they collectively reversed the previous negative close and created a more bullish trend.
“Foreign inflows, a stable rupee, speculation ahead of the central bank policy rate decision on April 29, and firm IMF new loan talks played a key role in the record close,” said Ahsan Mehanti, CEO of Arif Habib Corporation.
The KSE100 index has gained 5.4 percent on a week-on-week (WoW) basis, with many attributing this positivity in the market to investor expectations of an interest rate cut in the upcoming monetary policy meeting on Monday.
The economic indicators also played a major role in the bullish trend of the stock market, particularly the current account number for the month of April which showed a 9-year-high surplus of $619 million.
Additionally, media reports that Prime Minister Shahbaz Sharif was going to Saudi Arabia where he would request the kingdom to expedite investment in Pakistan’s oil, gas, and mining sectors also kept the bullish sentiments alive.
“Investors expect that Pakistan’s prime minister will speed up the investment of $5 billion,” Butt said. “If he brings any good news, the market will see it positively.”
The stock market is also expecting that after keeping the policy rate high at 22 percent since June 27, 2023, the central bank will make some changes in its monetary policy statement next week. “Expectations are high this time,” he continued. “The interest rate can come down by 50 to 100 basis points.”
Pakistani stocks have largely witnessed a bullish trend after the country secured $3 billion in short-term financing in July last year to stave off sovereign debt default.
The government is now expecting the final disbursement of $1.1 billion of IMF financing after the approval of its executive board.
A new IMF program being negotiated by the authorities has also led to positive sentiment in the capital market and can lead to another round of bullish spells if and when it materializes.
Saudi Arabia exit 2024 AFC U-23 Asian Cup, fail to reach Paris Olympics
- A 2-0 defeat to Uzbekistan saw Saad Al-Shehri’s team depart at the quarterfinal stage of competition they won in 2022
DOHA: Saudi Arabia exited the 2024 AFC U-23 Asian Cup on Friday after a 2-0 loss to Uzbekistan at Khalifa International Stadium in Al-Rayyan.
The defeat means that the Green Falcons, winners of the the last edition of the tournament in 2022, cannot reach the 2024 Olympic Games in Paris — a bitter blow for coach Saad Al-Shehri who had led the team to the 2020 Olympic Games in Tokyo.
For Uzbekistan, the win brings a small measure of revenge having lost the last AFC U-23 Asian Cup final 2-0 to Saudi Arabia in Tashkent two years ago.
Uzbekistan took the lead through Khusayin Norchaev two minutes into first-half stoppage time, and Saudi Arabia’s task became harder when Ayman Yahya was sent off on 70 minutes.
Saudi’s 10 men could not find an equalizer, and Uzbekistan put the game to bed thanks to Umarali Rakhmonaliev’s goal on 84 minutes.
In Monday’s first semifinal at Abdullah Bin Khalifa Stadium in Doha, Uzbekistan will face Indonesia, who beat South Korea 11-10 on penalties after their quarterfinal ended in a 2-2 draw.
In the other semifinal, Japan, who beat hosts Qatar 4-2 after extra time, will await the winner of the last-eight clash between Iraq and Vietnam.
Excavators held for violating water system
- The discovery was made during field tours carried out by the water department
TUBARJAL: The Al-Jouf branch of the Saudi Ministry of Environment, Water and Agriculture has apprehended three excavators who were found to be violating the water system in Tubarjal.
The discovery was made during field tours carried out by the water department, in cooperation with the competent authorities in the governorate.
Separately, authorities in Addayer in the Jazan region have arrested seven Ethiopians for smuggling 105 kg of hashish. Legal procedures have been completed against the offenders who were handed over, along with the seized items, to the competent authority.
Border guard patrols in the Al-Harth area of Jazan have also foiled an attempt to smuggle 71 kg of hashish, with initial legal procedures completed and the find handed over to the competent authority.
Security authorities have reiterated their appeal for citizens and residents to report any information regarding drug smuggling or selling by calling 911 in Makkah, Riyadh, and the Eastern Region, and 999 in the rest of the Kingdom’s regions.
Those with information may also contact the General Directorate of Narcotics Control at 995 or at [email protected].
Direct KSA to Iraq flight routes announced
- These flights, along with flights to Baghdad and Irbil, will commence from June 1.
RIYADH: The Saudi General Authority of Civil Aviation announced the launch of direct flights from Dammam to Najaf, the Saudi Press Agency reported on Friday.
The decision is in line with the Kingdom’s national aviation sector strategy, aimed at doubling capacity to accommodate over 330 million passengers annually, and extending services to more than 250 global destinations.
These flights, along with flights to Baghdad and Irbil, will commence from June 1.
