{"id":84226,"date":"2024-03-11T00:00:00","date_gmt":"2024-03-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/11\/ft-dives-deep-into-the-regional-hq-program-alicia-keys-hammers-critics\/"},"modified":"2024-03-11T00:00:00","modified_gmt":"2024-03-11T00:00:00","slug":"ft-dives-deep-into-the-regional-hq-program-alicia-keys-hammers-critics","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/11\/ft-dives-deep-into-the-regional-hq-program-alicia-keys-hammers-critics\/","title":{"rendered":"FT dives deep into the regional HQ program + Alicia Keys hammers critics"},"content":{"rendered":"

What will it take for banks as well as financial and professional services firms to set up <\/strong>HQs in Saudi? <\/strong>That\u2019s at the heart of the Financial Times<\/a> spotlight on the regional headquarters program, noting that some 350 corporates have set up their Mideast bases here. <\/p>\n

Banks and professional services firms are more wary than some corporates<\/strong>, the salmon-colored paper writes, diving into the topic with more finesses than did the NYT\u2019s DealBook, which recently indulged its inner Orientalist<\/a> in looking at the Kingdom. <\/p>\n

The issue for financial services firms: <\/strong>\u201cIt\u2019s what the regulatory framework is going to be \u2026 [Saudi is] not a financial centre set-up,\u201d said a senior exec at an international bank.<\/p>\n

The ask: <\/strong>For King Abdullah Financial District to have its own financial regulator along the same lines as Dubai\u2019s DIFC. <\/p>\n

For professional services: <\/strong>It\u2019s about moving revenue-generating partners into a setup that \u201cis not intended to generate revenue,\u201d the FT writes. \u201cThe regional headquarter rules \u2018were drafted more with the mindset of companies that sell products rather than those who sell services,\u2019 said Michael Bessey, a director at consultancy Albright Stonebridge Group\u2019s Middle East and north Africa practice.\u201d<\/p>\n

First up- <\/strong>American performer Alicia Keys (pictured, above, at this year\u2019s US Super Bowl) and rapper Pharrell Williams were took flack from the Guardian<\/a> for performing in Saudi on International Women\u2019s Day at the F1 Grand Prix. <\/p>\n

Keys\u2019 on-point retort: <\/strong>\u201cI am thrilled to be back on stage, this time in Jeddah, performing in a place I have never performed in before, and in a way I never have in this region,\u201d she said. \u201cI\u2019m also so inspired to connect in a meaningful way with the amazing women there to discuss cultural, creative and boundary-pushing narratives we are collectively and individually leading. In light of International Women\u2019s Day, it\u2019s the perfect time to discuss important issues affecting us,\u201d she added.<\/p>\n

MEANWHILE- <\/strong><\/p>\n

ALSO- <\/strong>Bloomberg<\/a> \u2019s Fahad Abuljadayel and Christine Burke took a deep dive into the PIF\u2019s sports investments, what it means for the local industry and how it aligns with the Kingdom\u2019s strategy to diversify away from oil. The BBC<\/a> gave some digital ink to Aramco\u2019s latest results.<\/p>\n","protected":false},"excerpt":{"rendered":"

Alicia Keys | Pharrell Williams | PIF | Sports | Regional HQs | Aramco<\/p>\n","protected":false},"author":1,"featured_media":84227,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2561],"tags":[139,10,154,229,8],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-saudi-in-the-news","tag-aramco","tag-enterpriseam-ksa","tag-pif","tag-saudi-in-the-news","tag-sports","wpautop","entry"],"acf":{"mongo_id":"09755813-5df0-4e84-85f2-ecd3562e6046","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/864.jpg","photo_position":"above","homepage_title":"","full_issue_title":"What will it take for financial and professional services firms to set up regional headquarters in Saudi Arabia?","related_issue":[84217],"teaser":"Alicia Keys | Pharrell Williams | PIF | Sports | Regional HQs | Aramco","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.ec86b424-f87e-4370-b6bd-94ac48254eef.mp3"},"yoast_head":"\nFT dives deep into the regional HQ program + Alicia Keys hammers critics - 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