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Saudi Arabia remains committed on developing other local industries for revenue to ease out dependence on oil & gas segment

June 22, 2014 - The Kingdom of Saudi Arabia (KSA) is viewed by the rest of the world as an oil-driven economy—heavily dependent on revenue generated from the oil & gas segment and its related sectors. However, the Saudi government has exerted key efforts in developing its other industries, especially those coming from the non-oil segment, in order to decrease the heavy dependence on oil.

AL-MAWARID BankS.A.L., the First Bank to Invest in Startups under Circular 331

Beirut, June 12th, 2014: In line with its plan to support the economy, AL-MAWARID Bank held a press conference at the Four Seasons Hotel on Thursday June 12th 2014, to announce the first pilot project in Lebanon under Circular 331 put forth by Banque du Liban, and which aims to encourage banks to invest in startups in the knowledge economy sector. This initiative is part of the bank’s CSR program titled “YOUTHinc.” which supports entrepreneurs.

Leading in innovation: LibanPost Launches the New Automated Mail Sorting Center

Beirut, June 12 2014 - LibanPost has concluded the implementation and testing of the new mail processing and sorting solution for its new Mail Center at Beirut Rafic Hariri International Airport. The two automated sorting machines were put into operation on June 12, 2014, and aim at handling mail delivery more efficiently. This automation process makes LibanPost a pioneer in the postal world services by providing traceability solution for the regular mail processing and distribution in the country.

UAE launches Arab Social Media Award to encourage innovative and responsible use of social media in region

An initiative of H.H. Sheikh Mohammed bin Rashid Al Maktoum

 Award to honor best social media initiatives in 20 categories

  • Annual event to recognize individuals and institutions that help establish positive environment for innovation and creativity
  • Aimed at leveraging social media usage to increase awareness of the issues of concern to Arab community 

Mohammed bin Rashid: