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MOU between the National Security Services Company “SAFE” and “eFinance” for Providing a Comprehensive and Secure Security System for Digital Payments.

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the National Security Services Company (SAFE), one of the Public Investment Fund Companies Leading the transformation in the security services sector. in the Kingdom of Saudi Arabia, announced today the signing of a memorandum of understanding ( MOU) with the Egyptian financial technology company “eFinance,” which specializes in technical services and providing electronic payment and collection services, along with technical support.

This step confirms the ambitious strategy of “SAFE” which aims to offer a comprehensive package of solutions for managing ATM services, point-of-sale devices, and cash deposit machines using the latest technologies.

This announcement was made on the sidelines of the 28th session of the Cairo ICT International Technology Conference and Exhibition for the Middle East and Africa, held from November 17 to 20, 2024, in Cairo, under the auspices of His Excellency President Abdel Fattah El-Sisi, the president of the Arab Republic of Egypt, and under the slogan “The Next Wave.”

Both parties, in the presence of Engineer Hossam El-Goly, eFinance’s member of board of directors and Mr. Turki bin Maatouq Al-Thonayan, CEO of the National Security Services Company “SAFE” agreed to participate in the strategic initiative of “eFinance,” which aims to encourage banks and financial institutions to expand their reliance on outsourcing services in managing ATM services, point-of-sale devices, and cash deposit machines, including cloud computing services. The two companies will work closely to enhance their capabilities in providing integrated security solutions in four key areas: first, comprehensive point-of-sale services; second, comprehensive ATM services; third, comprehensive cash deposit machine services; and finally, international money transfer services between the Kingdom of Saudi Arabia and the Arab Republic of Egypt.

According to the memorandum of understanding, “eFinance” will provide cloud hosting for the system or related services at the client’s site, in addition to providing specialized expertise to implement the mentioned areas. They will also participate in marketing services to banks and non-banking financial institutions, alongside operational services and direct technical support. Meanwhile, “SAFE” will provide the necessary equipment for collaboration in the agreed areas, along with offering specialized experts to work with the “eFinance” team to build the agreed solutions and participate in marketing and selling services to banks and financial institutions.

For his part, Mr. Turki bin Maatouq Al-Thonayan, CEO of the National Security Services Company “SAFE,” which is wholly owned by the Public Investment Fund, emphasized that “the company will work with ‘eFinance’ to build a work plan in areas of collaboration to serve financial institutions, locally or internationally, by enhancing integration among the security system’s parties to meet customer aspirations and needs.”

He also added that the partnership with “eFinance” is an important step toward achieving the company’s ambitions to elevate security services in both countries and build a prosperous future by leveraging the best technologies, enabling the company to continue its commitment to contributing to the implementation of both “Saudi Vision 2030” and “Egypt Vision 2030” within the financial sector framework.

Al-Thonayan clarified that “SAFE” aims through this partnership to ensure leadership and innovation in the security sector across the main areas the company offers: consulting services, integrated solutions, training and development programs, and command and control centers. The company’s unique business model relies on collaboration with the most innovative companies in their fields, providing security and safety as a service, and focusing on meeting the specialized needs of the markets in which it operates.

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New Games, New Stakes: ‘Squid Game’ Season 2

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Main Trailer and Key Art ‘Round and Round’ Unveiled

Premiering on Netflix on December 26th

Netflix unveils the main trailer and key art ‘Round and Round’ for the second season of the world’s most-watched show Squid Game. With its premiere just around the corner on December 26, the trailer delivers an electrifying glimpse into the deadly games and gripping character dynamics that await fans worldwide.

Seong Gi-hun (Lee Jung-Jae) returns, locked in a tense battle with the shadowy Front Man (Lee Byung-hun). As new games unfold, the stakes grow deadlier, and Gi-hun’s mission to end the games once and for all takes center stage. Will he succeed, or will the system claim even more victims?

The trailer draws viewers back into this gripping universe, along with new cast members Yim Si-wan, Kang Ha-neul, Park Gyu-young, Lee Jin-uk, Park Sung-hoon, Yang Dong-Geun, Kang Ae-sim, and Jo Yu-ri who bring fresh intrigue and complexity to the world of Squid Game.

The newly unveiled key art features the participants of Squid Game racing toward an unknown destination, with Gi-hun leading the charge at the forefront, signaling the official start of the intense competition.

The countdown is on. As alliances shift and rivalries ignite, Squid Game Season 2 raises the stakes in ways fans could never have imagined.

Squid Game Season 2 debuts globally on December 26, only on Netflix. Let the new games begin.

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Bateel International Expands into South Korea with a Boutique in Seoul’s Lotte World Mall

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A transformative step into Asia with more to come in the near future.

Dubai, United Arab Emirates – Bateel International LLC, a global leader in the world of fine food and beverages, is renowned for its luxurious gourmet delights and F&B services, proudly announces its expansion into Asia with the opening of its first boutique in Seoul, South Korea, at the prestigious Lotte World Mall in mid-November 2024. This milestone marks a pivotal moment in Bateel’s global growth strategy, bringing its world-renowned collection of premium organic dates, single-origin chocolates and gourmet products to a discerning audience in one of Asia’s most vibrant markets.
After years of evaluating international markets, Bateel identified South Korea as a prime destination for its boutique expansion. With a sophisticated consumer base that values health-conscious, trendy products, Seoul presents the perfect market for Bateel’s offering of organic and filled dates, artisanal chocolates and luxurious packaged gift sets. The location in Lotte World Mall, adjacent to the entrance of the renowned viewing deck, mirrors the brand’s successful presence at Dubai Mall, where Bateel boutiques attract thousands of global visitors.
“We are thrilled to enter the South Korean market,” said Bilal El Kurjie, Senior Commercial Director at Bateel.”Our presence in this key market allows us to bring the unique Bateel experience to new customers, starting with this iconic location at Lotte World Mall.”
The new boutique, larger than some of Bateel’s flagship stores in the UAE and KSA, will offer the full Bateel experience. Customers will enjoy an extensive range of premium products, including Bateel’s renowned organic dates, high-end single-origin chocolate collection, and bespoke packaging options, designed to cater to both local tastes and the international tourist market.
In addition to the boutique, Bateel plans to introduce its new Bateel El’an concept, a modern café format, in early 2025. This next phase will elevate Bateel’s presence in South Korea, offering dine-in, takeaway, and delivery options that showcase Bateel’s signature culinary excellence.
Central to Bateel’s expansion strategy is its commitment to sourcing the highest-quality ingredients globally. This dedication, paired with a focus on sustainability, aligns with the growing demand for responsibly sourced luxury products in South Korea.
“This expansion is the start of a new chapter for Bateel in Asia,” Bilal added. “We have ambitious plans underway and look forward to further expanding our presence, starting with Seoul and soon moving into markets like Singapore.”
Recognized worldwide for its gourmet products, Bateel has established a strong global presence in more than 29 countries, with luxury boutiques and elegant cafés in premium destinations across the GCC, Europe, and Asia.

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Saudi Arabia Shapes the Future of Middle Eastern Banking with Vision 2030 and $971 Billion in Assets- Total assets of Saudi Banks are $971 Billion in 2023

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Saudi Arabia is establishing itself as a transformative force in Middle Eastern banking, holding close to 1 trillion in total assets in 2023. Under Vision 2030, the Kingdom is redefining its financial landscape with a strong focus on digital innovation, employee and customer experience, regulatory advancements, and financial inclusion, positioning itself as a model for national-scale transformation.
A new report from Arthur D. Little (ADL) highlights Saudi Arabia’s leadership in shaping a future-ready banking environment that sets new standards for the GCC. The report also shows how innovative initiatives taken from South East Asia markets are providing insight into building the new banking chapter in KSA.
Vision 2030 is driving growth across the Saudi banking sector, with initiatives centered on expanding digital payments, enhancing financial inclusion, and establishing a resilient regulatory framework. Supported by the Saudi Arabian Monetary Authority (SAMA), the Kingdom’s banks are at the forefront of adopting advanced technologies like artificial intelligence and cloud computing to improve customer experience and security. This focus on forward-thinking infrastructure development exemplifies Saudi Arabia’s commitment to creating an inclusive financial system for its citizens.
“Vision 2030 represents more than just economic reform for Saudi Arabia; it embodies a profound transformation of the Kingdom’s financial landscape,” said Yacin Mahieddine, Partner in the Global Financial Services practice at Arthur D. Little “By prioritizing financial inclusion, strengthening regulatory frameworks, focusing on employee experience, and advancing digital payments, Saudi Arabia is building a resilient, future-ready banking environment. This commitment is setting a new regional benchmark, and we believe the Kingdom is positioned to become a leader in secure, accessible, and technology-driven financial services.”
“The scale and ambition of Saudi Arabia’s transformation under Vision 2030 are truly unparalleled,” said Nelson Danam, Principal and a member of the Global Financial Services Practice at Arthur D. Little. “Through the integration of AI-driven fraud prevention and cloud-based systems, Saudi banks are not merely adopting technology but are setting the standard for what it means to be prepared for the future. This approach speaks to a commitment that goes beyond regional aspirations—it is about establishing a financial sector that serves all citizens while leading by example in the region.”
The KSA market has also welcomed many leaders with experience from the South East Asia market. The sharing of experience has led to various ingenious initiatives and is today helping build the future of banking in KSA, with some noticeable innovative examples:
• The emphasis on mobile-first, seamless digital banking experiences with minimal branch reliance, to improve customer accessibility and reduce operational costs.
• The integration of financial services into non-banking platforms like e-commerce, creating a broader service ecosystem that enhances customer engagement and convenience.
• Leveraging innovative technology solutions and Apps to reach underserved segments for microloans, SME segments, digital wallets, … to help tap the underbanked.
• The use of advanced analytics to deliver highly personalized products and services, improving customer loyalty and lifetime value.
• Enhancing collaboration with regulators through sandbox frameworks to test new financial products safely, enabling quicker innovation adoption in compliance with SAMA regulations.
With a significant contribution to the GCC region’s $3.2 trillion in total banking assets, Saudi Arabia is playing a critical role in advancing a resilient and innovative financial landscape across the Middle East. Arthur D. Little’s report underscores that Saudi Arabia’s commitment to Vision 2030 is not just building a stronger banking sector but is setting the course for the future of finance in the GCC.

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