Latest news with #GAM
Ammon
10 hours ago
- Entertainment
- Ammon
Amman Summer Festival 2025 concludes activities
Ammon News - The 17th edition of the Amman Summer Festival 2025 concluded activities on Friday evening at Al Hussein Park. Organized free of charge over 8 days by the Greater Amman Municipality (GAM), the festival saw attendance of a large public audience. According to a GAM statement, the final evening featured popular folkloric performances, which were inspired by Jordanian heritage and presented by the Zaha Cultural Center band, adding a festive atmosphere. Meanwhile, the handicraft and heritage bazaars continued to welcome visitors, as part of a GAM initiative to support domestic products and enhance the participation of Jordanian productive families. Artists Nida'a Sharara' and Mahmoud Khayat shone on stage, performing a slew of patriotic and traditional songs that added an exciting atmosphere to the evening. In the children's venue, the play "The Children's Box" was presented, along with interactive games and various recreational activities, as gifts and prizes were distributed. The festival, which is held annually by the GAM, aims to stimulate tourism, add a tourist destination to Amman, provide a family-friendly atmosphere for citizens and visitors to Jordan. Petra
Focus Malaysia
07-07-2025
- Business
- Focus Malaysia
Massive DC investments shield construction sector from AI export risks
RHB's top picks for the construction sector include Gamuda (GAM), Sunway Construction (SCGB) and Binastra. US President Donald Trump's administration via a draft rule plans to restrict shipments of artificial intelligence (AI) chips to Malaysia and Thailand. This is part of an effort to crack down on suspected activities of chips being smuggled into China. However, the rule is not yet finalised, and could still change. One provision under the draft rule would allow firms headquartered in the US and a few dozen friendly nations to continue shipping AI chips to both countries, without seeking a license, for a few months after the rule is published, according to media sources. The licence requirements would still include certain exemptions to prevent supply chain disruptions. Therefore, US-based tech giants such as Google, Microsoft, Oracle, EdgeConneX and Amazon Web Services may continue their planned investments in Malaysia, which entails data centre (DC) setups. We also do not discount the possibility of some form of validated end user (VEU) status (similar to former US president Joe Biden's AI diffusion rule) to be obtained by US tech giants and allies which enables them to ship AI chips more freely to countries like Malaysia, given their massive planned investments in the country. However, VEU status holders may also then be subject to stringent security requirements, eg supply chain security including personnel checking and transit security. These 'friendly nations' may be countries previously listed under Tier 1, under the US AI diffusion rule proposed by the previous US administration. Some of the countries include the UK, the Netherlands, Australia and Japan. Key non-US DC players currently expanding in Malaysia include Yondr, Vantage, AirTrunk and NextDC. GAM, SCGB and IJM mainly have their DC jobs coming from either US-based corporations, or DC players from countries that could be deemed as friendly by the US, in our view. In fact, the near-term DC job pipeline is dominated by US-backed MNCs. For instance, there are some DC tenders, with outcomes expected to be known over July-September. The said tenders are related to Elmina Business Park Phase 2, and Eco Business Park V at Puncak Alam. Based on our estimates, there could be a potential construction value worth MYR7.4bn from the five DC tenders. Other DC hotspots include Negeri Sembilan – one in Port Dickson via a 389- acre piece of land (acquired from GAM) developed by PCM and another plot in Nilai that is said to be backed by a US investor, according to the Chief Minister of Negeri Sembilan. The 389-acre land could likely house between 500MW and 700MW of DC capacity based on our analysis. Key downside risks to our sector call now include an unexpected slowdown in DC builds from US-based DC developers in Malaysia. —July 7, 2025 Main image: Freepik
Ammon
06-07-2025
- Business
- Ammon
Amman hosts forum showcasing staircase tourism as heritage
Ammon News - The Greater Amman Municipality (GAM) on Sunday organized the inaugural Omani Staircase Tourism Forum at Staircase No. 3 in Philadelphia, opposite the Roman Amphitheater, with participation from the General Authority for Popular Arts, several Jordanian universities, cultural associations, and civil society organizations. According to a GAM statement, Deputy Director of Amman City for Community Development, Hatem Hamlan, who inaugurated the forum on behalf of the Mayor of Greater Amman, highlighted the historical significance of the city's stone staircases, carved by earlier generations to facilitate movement across Amman's distinctive topography and connect its elevated districts. He emphasized the role these architectural features play in enhancing urban tourism, especially in heritage-rich neighborhoods. Hamlan said the forum is part of a broader series of cultural initiatives GAM plans to implement in collaboration with various partners to revive and preserve Amman's tangible and intangible heritage. Mohammed Abu Zaitoun, Executive Director of the Amman Old Neighborhoods and Tourist Routes Development Project, noted that hosting the event on the Philadelphia Staircase exemplifies innovative urban tourism, leveraging historic urban infrastructure to attract visitors and stimulate the local economy. He described staircase tourism as an emerging facet of the urban tourism economy, aiming to integrate community participation, cultural heritage, and sustainable development. He explained that this approach promotes community ownership by involving municipalities, tourism authorities, local youth initiatives, and residents, thereby transforming cultural events into sustainable development models rooted in cultural diversity and strategic investment in urban infrastructure. Mohammed Wahib, Chairman of the Forum's Organizing Scientific Committee, stated that Omani staircase tourism represents a pioneering concept in the Middle East. He highlighted archaeological evidence of the world's oldest staircase discovered at Ain Ghazal, dating back over 6,000 years BC, emphasizing that staircase tourism in Oman and across the region could yield significant social and economic benefits. Ghassan Owais, Chairman of the Popular Arts Association, remarked that the forum marks the beginning of further academic and cultural engagements centered on Amman's historic staircases. Cultural and academic figures participating in the forum included Alian Adwan, President of the Jordanian Writers and Authors Union, who underscored Jordan's deep historical heritage as a pillar of national identity. Saad Yaqoub, President of the Historians Union, pointed to Amman's rich civilizational legacy, spanning from the Ammonites through Roman and Islamic periods, visible in landmarks such as the Roman Theater and the city's stone staircases, which narrate the story of Amman's evolution.
Ammon
01-07-2025
- Entertainment
- Ammon
Amman Summer Festival to begin July 11
Ammon News - The 17th edition of the Amman Summer Festival is scheduled to commence on July 11, held "free of charge" by the Greater Amman Municipality (GAM). According to a GAM statement issued on Tuesday, the Amman festival evenings, which will run until July 18, will be held in Al Hussein Gardens, featuring a national, cultural, and family theme. Inviting the public to attend the activities, the GAM noted the event secures a designated venue for children and shops to showcase heritage products, crafts, and foodstuffs. Set to see national, folkloric, and popular performances, the GAM added that the festival aims to stimulate tourist activity in Amman and provide a family-friendly atmosphere for citizens and visitors to Jordan.
Yahoo
19-06-2025
- Business
- Yahoo
GAM names Albert Saporta as new CEO
Swiss asset manager GAM has appointed Albert Saporta as its new group CEO as part of a leadership overhaul. Saporta will take on the new role on 1 July 2025. He replaces Elmar Zumbuehl, who continue with the company until 31 December 2025 to enable the transition. Over the past 21 months, under the guidance of Elmar Zumbuehl, GAM has divested non-core businesses and established a 'lean, scalable' platform. This transformation was aimed at attracting investment talent and enhancing global distribution and client servicing. Saporta, with over four decades in the investment management industry and serving as global head of Investments & Products at GAM since October 2023, will focus on speeding up growth by leveraging existing and new product offerings and exploring external opportunities. According to GAM, Saporta has been pivotal in strengthening GAM's investment team and forging new partnerships with leading investment managers, reinforcing the company's ability to offer clients investment strategies across various asset classes. Saporta said: "I am honoured to take on the role of GAM's Group CEO. We have transformed GAM, and it is now well positioned with unique investment talent to deliver differentiated strategies to our clients. I am excited to be leading GAM into this next phase of sustainable growth.' Besides, Tim Rainsford is set to rejoin GAM as Group chief distribution officer, starting 1 October 2025. Tim Rainsford, returning to GAM, brings experience from his previous roles, including CEO of Generali Investments Partners and chief product and distribution officer for Generali Asset Management. He will be part of the Group Management Board and work closely with Rossen Djounov, global head of Client Solutions. Djounov will continue to be a vital part of the distribution leadership, focusing on growth initiatives and 'strategic' client relationships. GAM Holding Board chairman Antoine Spillmann said: "On behalf of the Board of Directors, I would like to express our deepest gratitude to Elmar for his dedicated service and the significant achievements he has accomplished during his many years at GAM. His leadership has been pivotal in steering the company through transformative changes and setting a solid foundation for future sustainable growth. The Board is looking forward to working with Albert and Tim as GAM enters its next phase as a highly agile and scalable platform with a renewed focus on growth, innovation, and client outcomes.' "GAM names Albert Saporta as new CEO" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
