Almoayyed Motors the official distributor of Ford and Lincoln in Bahrain was recently presented the 2024 Outstanding Partnership Award from Ford Motor Company at an event held in Dubai. Ford Motor Company International Markets Group president Kay Hart presented the award to Y K Almoayyed & Sons (YKA) chief executive Alok Gupta in the presence of Ford Middle East president Ravi Ravichandran and Almoayyed Motors general manager Mario D Costa.
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Almoayyed Motors the official distributor of Ford and Lincoln in Bahrain was recently presented the 2024 Outstanding Partnership Award from Ford Motor Company at an event held in Dubai. Ford Motor Company International Markets Group president Kay Hart presented the award to Y K Almoayyed & Sons (YKA) chief executive Alok Gupta in the presence of Ford Middle East president Ravi Ravichandran and Almoayyed Motors general manager Mario D Costa.
Exceptional special offers are available during the holy month of Ramadan at Almoayyed Motors the exclusive dealer for Ford and Lincoln in Bahrain. A series of exclusive deals for a limited period can be found on a wide range of models including sedans sports utility vehicles and trucks. For the Ford Everest Bronco F-150 Expedition and Explorer customers have the opportunity to pay an additional BD300 and enjoy the following benefits: 3 years/60 000 km s service package 5 years/100 000 km s warranty insurance and registration window tinting and rust proofing. The same comprehensive package is available at a reduced price of BD200 for the Ford Territory and Taurus models. These offers are designed to encourage customers to acquire outstanding vehicles at attractive prices with unique benefits said a spokesman for Almoayyed Motors which comes under the Y K Almoayyed and Sons (YKA) umbrella. We are dedicated to delivering the highest level of quality and service to our customers. These exclusive offers reflect our commitment to meeting customer needs and providing the best deals in the market. All customers and driving enthusiasts are urged to visit the showroom and take advantage of these offers. The professional team of experts will be available to provide advice and assistance in choosing the right vehicle. J Visit the Sitra showroom or call 17737373 to arrange a test drive.
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Exceptional special offers are available during the holy month of Ramadan at Almoayyed Motors the exclusive dealer for Ford and Lincoln in Bahrain. A series of exclusive deals for a limited period can be found on a wide range of models including sedans sports utility vehicles and trucks. For the Ford Everest Bronco F-150 Expedition and Explorer customers have the opportunity to pay an additional BD300 and enjoy the following benefits: 3 years/60 000 km s service package 5 years/100 000 km s warranty insurance and registration window tinting and rust proofing. The same comprehensive package is available at a reduced price of BD200 for the Ford Territory and Taurus models. These offers are designed to encourage customers to acquire outstanding vehicles at attractive prices with unique benefits said a spokesman for Almoayyed Motors which comes under the Y K Almoayyed and Sons (YKA) umbrella. We are dedicated to delivering the highest level of quality and service to our customers. These exclusive offers reflect our commitment to meeting customer needs and providing the best deals in the market. All customers and driving enthusiasts are urged to visit the showroom and take advantage of these offers. The professional team of experts will be available to provide advice and assistance in choosing the right vehicle. J Visit the Sitra showroom or call 17737373 to arrange a test drive.
Almoayyed Motors the official distributor of Ford and Lincoln in Bahrain was recently presented the 2024 Outstanding Partnership Award from Ford Motor Company at an event held in Dubai. Ford Motor Company International Markets Group president Kay Hart presented the award to Y K Almoayyed & Sons (YKA) chief executive Alok Gupta in the presence of Ford Middle East president Ravi Ravichandran and Almoayyed Motors general manager Mario D Costa.
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Almoayyed Motors, the official distributor of Ford and Lincoln in Bahrain, was recently presented the 2024 Outstanding Partnership Award from Ford Motor Company at an event held in Dubai. Ford Motor Company International Markets Group president Kay Hart presented the award to Y K Almoayyed & Sons (YKA) chief executive Alok Gupta, in the presence of Ford Middle East president Ravi Ravichandran and Almoayyed Motors general manager Mario D’Costa.
Exceptional special offers are available during the holy month of Ramadan at Almoayyed Motors the exclusive dealer for Ford and Lincoln in Bahrain. A series of exclusive deals for a limited period can be found on a wide range of models including sedans sports utility vehicles and trucks. For the Ford Everest Bronco F-150 Expedition and Explorer customers have the opportunity to pay an additional BD300 and enjoy the following benefits: 3 years/60 000 km s service package 5 years/100 000 km s warranty insurance and registration window tinting and rust proofing. The same comprehensive package is available at a reduced price of BD200 for the Ford Territory and Taurus models. These offers are designed to encourage customers to acquire outstanding vehicles at attractive prices with unique benefits said a spokesman for Almoayyed Motors which comes under the Y K Almoayyed and Sons (YKA) umbrella. We are dedicated to delivering the highest level of quality and service to our customers. These exclusive offers reflect our commitment to meeting customer needs and providing the best deals in the market. All customers and driving enthusiasts are urged to visit the showroom and take advantage of these offers. The professional team of experts will be available to provide advice and assistance in choosing the right vehicle. J Visit the Sitra showroom or call 17737373 to arrange a test drive.
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Exceptional special offers are available during the holy month of Ramadan at Almoayyed Motors, the exclusive dealer for Ford and Lincoln in Bahrain.
A series of exclusive deals for a limited period can be found on a wide range of models, including sedans, sports utility vehicles and trucks.
For the Ford Everest, Bronco, F-150, Expedition, and Explorer, customers have the opportunity to pay an additional BD300 and enjoy the following benefits: 3 years/60,000 km’s service package, 5 years/100,000 km’s warranty, insurance and registration, window tinting and rust proofing.
The same comprehensive package is available at a reduced price of BD200 for the Ford Territory and Taurus models.
“These offers are designed to encourage customers to acquire outstanding vehicles at attractive prices with unique benefits,” said a spokesman for Almoayyed Motors, which comes under the Y K Almoayyed and Sons (YKA) umbrella.
“We are dedicated to delivering the highest level of quality and service to our customers. These exclusive offers reflect our commitment to meeting customer needs and providing the best deals in the market.”
All customers and driving enthusiasts are urged to visit the showroom and take advantage of these offers. The professional team of experts will be available to provide advice and assistance in choosing the right vehicle.
J Visit the Sitra showroom or call 17737373 to arrange a test drive.
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CEER Saudi Arabia s first automotive company and Original Equipment Manufacturer (OEM) has officially opened its first mobile store at Bujairi Terrace in Diriyah Riyadh marking the beginning of its nationwide retail rollout. The opening represents the next phase of CEER s journey following the World Premiere of its Exobot sedan and Exobot SUV bringing the vehicles closer to the customers and providing the opportunity to reserve Exobot First Edition. The new store serves as the premier showcase for the first Saudi-made vehicles fully designed engineered and manufactured in the Kingdom. Visitors can experience firsthand the distinctive Exobot designs alongside the innovation and technology that was developed according to the highest global standards and tailormade for Saudi Arabia and the region. Speaking at the event Luay Alshurafa Chief Commercial Officer at CEER said: The opening of our first mobile store marks another important milestone in CEER s...
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CEER, Saudi Arabia’s first automotive company and Original Equipment Manufacturer (OEM), has officially opened its first mobile store at Bujairi Terrace in Diriyah, Riyadh, marking the beginning of its nationwide retail rollout.
The opening represents the next phase of CEER’s journey following the World Premiere of its Exobot sedan and Exobot SUV, bringing the vehicles closer to the customers and providing the opportunity to reserve Exobot First Edition.
The new store serves as the premier showcase for the first Saudi-made vehicles fully designed, engineered, and manufactured in the Kingdom.
Visitors can experience firsthand the distinctive Exobot designs alongside the innovation and technology that was developed according to the highest global standards and tailormade for Saudi Arabia and the region.
Speaking at the event, Luay Alshurafa, Chief Commercial Officer at CEER said: "The opening of our first mobile store marks another important milestone in CEER's...
McLaren Automotive has announced its return to Saudi Arabia in partnership with Mohamed Yousuf Naghi Motors one of the country s most established automotive groups. The appointment opens a significant new chapter uniting two names defined by performance excellence and an uncompromising commitment to customer experience. The new retail presence will mark an important step in McLaren s growth across the Middle East strengthening the brand s presence in a key market with a deep appreciation for luxury innovation and exceptional automotive performance. Dedicated sales and aftersales support Operating as McLaren Riyadh the business will be the brand s authorised retailer in Saudi Arabia providing dedicated sales and aftersales support to McLaren s established customer base in the kingdom. Saudi Arabia is an extremely important market for McLaren with an established community of loyal and passionate customers. The appointment of McLaren ...
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McLaren Automotive has announced its return to Saudi Arabia in partnership with Mohamed Yousuf Naghi Motors, one of the country’s most established automotive groups.
The appointment opens a significant new chapter, uniting two names defined by performance, excellence and an uncompromising commitment to customer experience.
The new retail presence will mark an important step in McLaren’s growth across the Middle East, strengthening the brand’s presence in a key market with a deep appreciation for luxury, innovation and exceptional automotive performance.
Dedicated sales and aftersales support
Operating as McLaren Riyadh, the business will be the brand’s authorised retailer in Saudi Arabia, providing dedicated sales and aftersales support to McLaren’s established customer base in the kingdom.
“Saudi Arabia is an extremely important market for McLaren, with an established community of loyal and passionate customers. The appointment of McLaren ...
Travelex has expanded its retail presence in Qatar with the opening and upgrading of three key locations across Doha targeting rising demand for foreign exchange and travel money services. The company has more than doubled its customer service points at Doha Al Jadeda metro station increasing them from three to seven. The location which opened in 2022 serves one of the city s busiest transport corridors. At Hamad International Airport Travelex has opened a new landside store as part of its 15-store airport network. The expansion comes as the airport recorded a record 54.3 million passengers in 2025 up 3% year on year. Travelex has also opened a new branch in Doha s historic Matar Qadeem district primarily focused on remittance services. The store will a...
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Travelex has expanded its retail presence in Qatar with the opening and upgrading of three key locations across Doha, targeting rising demand for foreign exchange and travel money services.
The company has more than doubled its customer service
points at Doha Al Jadeda metro station, increasing them from three to seven.
The location, which opened in 2022, serves one of the city’s
busiest transport corridors.
At Hamad International Airport, Travelex has opened a new
landside store as part of its 15-store airport network.
The expansion comes as the airport recorded a record 54.3
million passengers in 2025, up 3% year on year.
Travelex has also opened a new branch in Doha’s historic
Matar Qadeem district, primarily focused on remittance services.
The store will a...
Key Mavens Group a Dubai-based boutique luxury developer has announced that work is in full swing on its community retail destination Le Meryeme - Liwan located at Wadi Al Safa 2 with the project on track for Q4 completion. With a total built-up area of 113 674 sq ft the project features a Spanish-inspired architectural design defined by open layouts outdoor courtyards and shaded terraces. The destination will house an array of commercial and service offerings including medical facilities restaurants cafés fitness centres and communal entertainment areas creating an integrated experience tailored to residents daily needs and contemporary lifestyles said the developer. Key Mavens said this comes following the successful delivery of Le Meryeme -The Villa. Both projects follow a shared philosophy that places design quality and architectural identity at the core of the visitor journey giving each destination a distinct character aligned wit...
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Key Mavens Group, a Dubai-based boutique luxury developer, has announced that work is in full swing on its community retail destination, Le Meryeme - Liwan, located at Wadi Al Safa 2, with the project on track for Q4 completion.
With a total built-up area of 113,674 sq ft, the project features a Spanish-inspired architectural design defined by open layouts, outdoor courtyards, and shaded terraces.
The destination will house an array of commercial and service offerings, including medical facilities, restaurants, cafés, fitness centres, and communal entertainment areas, creating an integrated experience tailored to residents' daily needs and contemporary lifestyles, said the developer.
Key Mavens said this comes following the successful delivery of Le Meryeme -The Villa. Both projects follow a shared philosophy that places design quality and architectural identity at the core of the visitor journey, giving each destination a distinct character aligned wit...
Saudi-based Asas Makeen Real Estate Development and Investment Company has signed up Itihad Al Thabat Contracting to execute and complete the construction and finishing works required for a number of residential and commercial projects being developed by the company in Riyadh. These projects span a total area of 65 000 sq m and it will be executed on a cost-plus-fee basis said Asas Makeen in its filing to Saudi bourse Tadawul. The total value of these projects are estimated at SAR315 million ( 83 million) said the Saudi developer adding that each project will be executed within a 18-month period. The scope of work for Itihad Al Thabat Contracting includes the contracting construction and finishing works for these projects on a turnkey basis. The budget scope of work specifications and schedule for each project will be separately determined and approved before work begins stated Asas Makeen in the bourse filing. The financial impact ...
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Saudi-based Asas Makeen Real Estate Development and Investment Company has signed up Itihad Al Thabat Contracting to execute and complete the construction and finishing works required for a number of residential and commercial projects being developed by the company in Riyadh.
These projects span a total area of 65,000 sq m and it will be executed on a cost-plus-fee basis, said Asas Makeen in its filing to Saudi bourse Tadawul.
The total value of these projects are estimated at SAR315 million ($83 million), said the Saudi developer, adding that each project will be executed within a 18-month period.
The scope of work for Itihad Al Thabat Contracting includes the contracting, construction, and finishing works for these projects on a turnkey basis.
The budget, scope of work, specifications, and schedule for each project will be separately determined and approved before work begins, stated Asas Makeen in the bourse filing.
The financial impact ...
Aldar on Friday announced that Saadiyat Grove a new experiential luxury retail and fine dining destination in Abu Dhabi s Saadiyat Cultural District will open in the fourth quarter of 2026. Designed as a living gallery where luxury art and fashion coexist Saadiyat Grove is set to redefine how the world experiences retail and culture-led living blending architecture design and storytelling in a setting unlike any other. Framed by three iconic cultural establishments the Louvre Abu Dhabi Guggenheim Abu Dhabi and the Zayed National Museum with the Natural History Museum Abu Dhabi and teamLab Phenomena Abu Dhabi in close proximity Saadiyat Grove stands as the connecting heart of Saadiyat Cultural District a one-square-mile masterpiece where every space is inspired by art culture and connection. Mohamed Khalifa Al Mubarak Chairman of Aldar said: Saadiyat Grove is a centrepiece in our strategy to position Saadiyat Island and Abu...
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Aldar on Friday announced that Saadiyat Grove, a new experiential luxury retail and fine dining destination in Abu Dhabi’s Saadiyat Cultural District, will open in the fourth quarter of 2026.
Designed as a living gallery where luxury, art and fashion coexist, Saadiyat Grove is set to redefine how the world experiences retail and culture-led living, blending architecture, design, and storytelling in a setting unlike any other.
Framed by three iconic cultural establishments, the Louvre Abu Dhabi, Guggenheim Abu Dhabi, and the Zayed National Museum, with the Natural History Museum Abu Dhabi and teamLab Phenomena Abu Dhabi in close proximity, Saadiyat Grove stands as the connecting heart of Saadiyat Cultural District, a one-square-mile masterpiece where every space is inspired by art, culture, and connection.
Mohamed Khalifa Al Mubarak, Chairman of Aldar, said: “Saadiyat Grove is a centrepiece in our strategy to position Saadiyat Island, and Abu...
Bahrain Tourism and Exhibitions Authority (BTEA) Chief Executive Officer Sara Buhiji attended the Concours of Elegance 2026 at Hampton Court Palace in the UK using the event to promote Bahrain as a destination for international tourism and high-profile events. The event brought together collectors experts and enthusiasts to showcase a selection of rare and historic automobiles from around the world. Buhiji highlighted Bahrain s growing presence at international tourism events and its ability to combine its cultural identity with world-class event experiences. She credited the support of His Majesty King Hamad bin Isa Al Khalifa and the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa Crown Prince and Prime Minister with strengthening Bahrain s position as a regional and international destination for major events. p cl...
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Bahrain Tourism and Exhibitions Authority (BTEA) Chief Executive Officer Sara Buhiji attended the Concours of Elegance 2026 at Hampton Court Palace in the UK, using the event to promote Bahrain as a destination for international tourism and high-profile events.
The event brought
together collectors, experts and enthusiasts to showcase a selection of rare
and historic automobiles from around the world.
Buhiji highlighted
Bahrain’s growing presence at international tourism events and its ability to
combine its cultural identity with world-class event experiences.
She credited the
support of His Majesty King Hamad bin Isa Al Khalifa and the directives of His
Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime
Minister, with strengthening Bahrain’s position as a regional and international
destination for major events.
dnata Travel has opened its 15th retail store in the UAE at One Central Dubai unveiling a premium concept designed around the changing needs of modern travellers. The new outlet combines personalised travel consultancy contemporary design and private consultation spaces strengthening dnata Travel s retail presence in the UAE. Positioned to serve One Central s business community and leisure travellers the store provides access to a broad range of travel services including flights hotels cruises tours attractions transfers and tailor-made itineraries. Meerah Ketait Head of Retail and Leisure UAE at dnata Travel commented: Travel has become increasingly personal. While customers value the convenience of booking online many still seek expert guidance when planning complex itineraries luxury holidays or once-in-a-lifetime experiences. We continue to see strong demand for face-to-face travel consultation par...
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dnata Travel has opened its 15th retail store in the UAE at One Central, Dubai, unveiling a premium concept designed around the changing needs of modern travellers.
The new outlet combines personalised travel consultancy, contemporary design and private consultation spaces, strengthening dnata Travel’s retail presence in the UAE.
Positioned to serve One Central’s business community and leisure travellers, the store provides access to a broad range of travel services, including flights, hotels, cruises, tours, attractions, transfers and tailor-made itineraries.
Meerah Ketait, Head of Retail and Leisure UAE at dnata Travel, commented: “Travel has become increasingly personal. While customers value the convenience of booking online, many still seek expert guidance when planning complex itineraries, luxury holidays or once-in-a-lifetime experiences. We continue to see strong demand for face-to-face travel consultation, par...
Al Meera Consumer Goods Company a leading national retailer and property developer in Qatar has signed up Yardi a leading property management software developer to support the next phase of its retail property management and leasing operations through its cloud-based retail platform. With a strong presence across the country Al Meera operates an extensive network of supermarkets hypermarkets and convenience stores. The partnership marks another milestone in Al Meera s digital transformation journey enabling greater operational efficiency enhanced tenant experiences and data-driven portfolio management across its growing retail network. As per the deal Yardi will deploy its cloud-based retail platform to help centralise Al Meera s property management and financial operations as well as enhance visibility across its portfolio. Innovative retail leasing and asset management tools will streamline deal flow optimise asset performance and support more strategi...
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Al Meera Consumer Goods Company, a leading national retailer and property developer in Qatar, has signed up Yardi, a leading property management software developer, to support the next phase of its retail property management and leasing operations through its cloud-based retail platform.
With a strong presence across the country, Al Meera operates an extensive network of supermarkets, hypermarkets and convenience stores.
The partnership marks another milestone in Al Meera's digital transformation journey, enabling greater operational efficiency, enhanced tenant experiences and data-driven portfolio management across its growing retail network.
As per the deal, Yardi will deploy its cloud-based retail platform to help centralise Al Meera's property management and financial operations, as well as enhance visibility across its portfolio. Innovative retail leasing and asset management tools will streamline deal flow, optimise asset performance and support more strategi...
Knowledge Economic City has announced a strategic partnership with Apparel Group in a move that will bring 24 top international retail and dining brands across 8 686 sqm to its Multaqa Al Madinah Mall. Apparel Group is a UAE-based fashion and retail conglomerate company that operates more than 2500 retail stores across the globe. It has operations in 14 countries mostly in the GCC region such as UAE Oman Bahrain Kuwait Saudi Arabia Malaysia Thailand Singapore India Pakistan Egypt South Africa and Indonesia. Of these global brands 10 will be making their debut in Madinah city including Nando s Wagamama Koton Birkenstock Levi s and Rituals thus bringing exciting new retail and dining experiences to the city. Together with Hilton Hotel and branded residences Multaqa AlMadinah is taking shape as a major new lifestyle destination contributing to Madinah s transformation and the ambitions of Saudi Vision 2030 it added.- TradeArabia ...
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Knowledge Economic City has announced a strategic partnership with Apparel Group, in a move that will bring 24 top international retail and dining brands across 8,686 sqm to its Multaqa Al Madinah Mall.
Apparel Group is a UAE-based fashion and retail conglomerate company that operates more than 2500 retail stores across the globe. It has operations in 14 countries, mostly in the GCC region, such as UAE, Oman, Bahrain, Kuwait, Saudi Arabia, Malaysia, Thailand, Singapore, India, Pakistan, Egypt, South Africa, and Indonesia.
Of these global brands, 10 will be making their debut in Madinah city, including Nando’s, Wagamama, Koton, Birkenstock, Levi’s and Rituals, thus bringing exciting new retail and dining experiences to the city.
Together with Hilton Hotel and branded residences, Multaqa AlMadinah is taking shape as a major new lifestyle destination, contributing to Madinah’s transformation and the ambitions of Saudi Vision 2030, it added.-TradeArabia ...
Gulf Warehousing Company (GWC Group) one of the region s leading logistics groups has signed a 15-year leasing agreement with Safari Shopping Center to establish a dedicated commercial retail facility within Logistics Village Qatar (LVQ). The agreement marks a significant expansion of community services at one of the region s most advanced integrated logistics platforms. The long-term agreement features a 3 613-sqm built-up retail facility alongside 5 000 sqm of dedicated parking space. Designed to serve the thousands of workforce residents and surrounding commercial operators in the area the new shopping center expands essential community services within the Group s flagship logistics platform. On the agreement Group s Chief Commercial Officer Syed Maaz said: A 15-year commitment from one of Qatar s most established retail groups reflects the trust scale quality and long-term value built into Logistics Village Qatar. This agreement brin...
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Gulf Warehousing Company (GWC Group), one of the region’s leading logistics groups, has signed a 15-year leasing agreement with Safari Shopping Center to establish a dedicated commercial retail facility within Logistics Village Qatar (LVQ).
The agreement marks a significant expansion of community services at one of the region's most advanced integrated logistics platforms. The long-term agreement features a 3,613-sqm built-up retail facility alongside 5,000 sqm of dedicated parking space.
Designed to serve the thousands of workforce, residents, and surrounding commercial operators in the area, the new shopping center expands essential community services within the Group’s flagship logistics platform.
On the agreement, Group’s Chief Commercial Officer Syed Maaz said: "A 15-year commitment from one of Qatar’s most established retail groups reflects the trust, scale, quality, and long-term value built into Logistics Village Qatar. This agreement brin...
Emirates NBD Egypt a 100% owned subsidiary of Emirates NBD Bank has entered into definitive agreements to acquire the retail banking business of HSBC Bank Egypt an indirect subsidiary of HSBC Holdings. The transaction remains subject to regulatory approvals and closing conditions said a statement. As part of the transaction Emirates NBD Egypt will acquire HSBC Egypt s retail banking portfolio along with the associated branch and ATM network customer base and relevant employee base. The transaction is expected to enhance Emirates NBD Egypt s market positioning as a leading retail and premium banking franchise in Egypt while deepening the connectivity for the Group across the UAE-Egypt corridor. Egypt is a strategically important market for Emirates NBD and a key pillar for driving group s regional growth ambitions and further expanding its presence in one of its core markets it said. The value of the transaction was not d...
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Emirates NBD Egypt, a 100% owned subsidiary of Emirates NBD Bank, has entered into definitive agreements to acquire the retail banking business of HSBC Bank Egypt, an indirect subsidiary of HSBC Holdings.
The transaction remains subject to regulatory approvals and closing conditions, said a statement.
As part of the transaction, Emirates NBD Egypt will acquire HSBC Egypt’s retail banking portfolio along with the associated branch and ATM network, customer base and relevant employee base.
The transaction is expected to enhance Emirates NBD Egypt's market positioning as a leading retail and premium banking franchise in Egypt, while deepening the connectivity for the Group across the UAE-Egypt corridor.
Egypt is a strategically important market for Emirates NBD and a key pillar for driving group’s regional growth ambitions and further expanding its presence in one of its core markets, it said.
The value of the transaction was not d...
Dubai-based investment firm Shamal Holding has announced the unveiling of The Grand a retail and lifestyle destination at its Nad Al Sheba Gardens development with the project fully leased ahead of its phased opening from August 19. The development will be anchored by the first Waitrose & Partners supermarket in Nad Al Sheba and will include retail dining healthcare wellness and other community services said Shamal in its statement. Unveiling the official name for its new community retail and lifestyle destination in the heart of Nad Al Sheba neighbourhood CEO Abdulla Binhabtoor said: The Grand represents the next phase of Shamal s long-term vision for Nad Al Sheba and for the communities we create. Thoughtful creation has shaped every aspect of the destination not simply to offer convenience but to elevate the everyday. More than a community mall The Grand is a lifestyle destination designed to feel welcoming connected and effortlessly part of ...
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Dubai-based investment firm Shamal Holding has announced the unveiling of "The Grand", a retail and lifestyle destination at its Nad Al Sheba Gardens development, with the project fully leased ahead of its phased opening from August 19.
The development will be anchored by the first Waitrose & Partners supermarket in Nad Al Sheba and will include retail, dining, healthcare, wellness and other community services, said Shamal in its statement.
Unveiling the official name for its new community retail and lifestyle destination in the heart of Nad Al Sheba neighbourhood, CEO Abdulla Binhabtoor said: “The Grand represents the next phase of Shamal’s long-term vision for Nad Al Sheba and for the communities we create. Thoughtful creation has shaped every aspect of the destination, not simply to offer convenience, but to elevate the everyday.”
“More than a community mall, The Grand is a lifestyle destination designed to feel welcoming, connected and effortlessly part of ...
National Bank of Bahrain (NBB) has been named Best Retail Bank in Bahrain by Euromoney Awards for Excellence acknowledging its progress in delivering customer-centric and secure retail banking solutions in the Kingdom. The award reflects NBB s continued efforts to improve how customers access a wide range of banking services and manage their financial needs the bank said. Over the past year the bank advanced several innovative initiatives across housing finance savings digital lending family banking investments and rewards each designed to simplify customer journeys while supporting broader national priorities. Usman Ahmed Group Chief Executive Officer of NBB said: This recognition from Euromoney reflects the strength of NBB s retail banking solutions. Our approach to digital banking is rooted in deepening and broadening our value proposition across customer segments with an uncompromising focus on safeguarding trust in our services at every touc...
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National Bank of Bahrain (NBB) has been named Best Retail Bank in Bahrain by Euromoney Awards for Excellence, acknowledging its progress in delivering customer-centric and secure retail banking solutions in the Kingdom.
The award reflects NBB’s continued efforts to improve how customers access a wide range of banking services and manage their financial needs, the bank said.
Over the past year, the bank advanced several innovative initiatives across housing finance, savings, digital lending, family banking, investments, and rewards, each designed to simplify customer journeys while supporting broader national priorities.
Usman Ahmed, Group Chief Executive Officer of NBB, said: “This recognition from Euromoney reflects the strength of NBB’s retail banking solutions. Our approach to digital banking is rooted in deepening and broadening our value proposition across customer segments, with an uncompromising focus on safeguarding trust in our services at every touc...
Kuwait Airways has received an initiative from BNK Automotive to enhance the level of services provided to the national carrier s guests and elevate the hospitality experience at the new VIP lounge at Kuwait International Airport. The initiative includes providing a fleet of premium and sustainable vehicles to serve the lounge s guests reflecting the modern image of the State of Kuwait and keeping pace with the highest international standards in luxury hospitality and transportation. The two parties met at the Kuwait Airways headquarters in the presence of Kuwait Airways Acting Chief Executive Officer Abdulwahab Al-Shatti and BNK Automotive Vice Chairman of the Board of Directors Mishal Al-Safran along with senior executives from both sides. Al-Shatti expressed his deep gratitude and appreciation to BNK Automotive for this distinguished national initiative...
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Kuwait Airways has received an initiative from BNK Automotive to enhance the level of services provided to the national carrier’s guests and elevate the hospitality experience at the new VIP lounge at Kuwait International Airport.
The initiative includes providing a fleet of premium and
sustainable vehicles to serve the lounge’s guests, reflecting the modern image
of the State of Kuwait and keeping pace with the highest international
standards in luxury, hospitality and transportation.
The two parties met at the Kuwait Airways’ headquarters, in
the presence of Kuwait Airways Acting Chief Executive Officer, Abdulwahab
Al-Shatti and BNK Automotive Vice Chairman of the Board of Directors, Mishal Al-Safran,
along with senior executives from both sides.
Al-Shatti expressed his deep gratitude and appreciation to BNK Automotive for this distinguished national initiative...
MAIR Group a strategic investment company focused on grocery retail and commercial real estate has announced the redevelopment and expansion of Mall of Al Ain through its commercial real estate arm Makani Real Estate marking the Group s first major investment in the destination since its acquisition in 2024. Scheduled ahead of the mall s 25th anniversary the redevelopment will introduce comprehensive upgrades across the mall s retail dining entertainment and public spaces alongside the addition of hotel services reinforcing the mall s position as one of Al Ain s leading lifestyle destinations said a statement from MAIR Group. A key feature of the redevelopment is the complete transformation of the mall s external façade alongside the expansion and relocation of its existing ice rink which is expected to become one of the largest in Al Ain upon completion. Construction work will begin in Q4 and the revamp will be implemented in phases allowing th...
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MAIR Group, a strategic investment company focused on grocery retail and commercial real estate, has announced the redevelopment and expansion of Mall of Al Ain, through its commercial real estate arm, Makani Real Estate, marking the Group's first major investment in the destination since its acquisition in 2024.
Scheduled ahead of the mall’s 25th anniversary, the redevelopment will introduce comprehensive upgrades across the mall's retail, dining, entertainment and public spaces, alongside the addition of hotel services, reinforcing the mall's position as one of Al Ain's leading lifestyle destinations, said a statement from MAIR Group.
A key feature of the redevelopment is the complete transformation of the mall's external façade, alongside the expansion and relocation of its existing ice rink, which is expected to become one of the largest in Al Ain upon completion.
Construction work will begin in Q4 and the revamp will be implemented in phases, allowing th...
GCC region s retail real estate sector is expanding rapidly but traditional space-centric models are insufficient. A new report by Boston Consulting Group (BCG) titled Imagining the Future of Retail: Beyond Space offers a comprehensive examination of the strategic readiness of retail real estate developers across the Middle East. Drawing on BCG s project experience and interviews with senior leaders across the GCC s major mixed-use retail entertainment and lifestyle developments the report says that the region s retail real estate sector is witnessing its most ambitious physical expansion in generations with millions of square meters of gross leasable area (GLA) under development across megaprojects in Riyadh Jeddah Dubai and Doha. In several GCC markets luxury retail space expansion has already outpaced growth in addressable consumer spending reshaping sales per square meter and current development strategies. In addition competition is intensifying ...
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GCC region’s retail real estate sector is expanding rapidly, but traditional space-centric models are insufficient. A new report by Boston Consulting Group (BCG) titled "Imagining the Future of Retail: Beyond Space" offers a comprehensive examination of the strategic readiness of retail real estate developers across the Middle East.
Drawing on BCG’s project experience and interviews with senior leaders across the GCC's major mixed-use, retail, entertainment, and lifestyle developments, the report says that the region’s retail real estate sector is witnessing its most ambitious physical expansion in generations, with millions of square meters of gross leasable area (GLA) under development across megaprojects in Riyadh, Jeddah, Dubai, and Doha.
In several GCC markets, luxury retail space expansion has already outpaced growth in addressable consumer spending, reshaping sales per square meter and current development strategies. In addition, competition is intensifying ...
Hellmann Worldwide Logistics and INDU Group have broken ground on a new automotive logistics hub in Jebel Ali Free Zone (Jafza) reinforcing the free zone s role as a key gateway for regional and global trade. The facility will support faster more efficient spare parts distribution across the GCC Africa and beyond as demand for resilient automotive supply chains continues to grow said a statement. Designed to manage the full spectrum of automotive spare parts logistics the facility will combine high-density bin storage pallet racking and specialised handling areas for oversized and bulky components. With a total area of nearly 300 000 sq ft the site will provide scalable infrastructure to support efficient high-volume distribution. Developed by INDU Logistics part of INDU Group the facility will serve as a dedicated automotive hub within Hellmann s Middle East network. Lee I Ons Regional CEO IMEA Hellmann Worldwide Logistics said: Th...
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Hellmann Worldwide Logistics and INDU Group have broken ground on a new automotive logistics hub in Jebel Ali Free Zone (Jafza), reinforcing the free zone’s role as a key gateway for regional and global trade.
The facility will support faster, more efficient spare parts distribution across the GCC, Africa and beyond, as demand for resilient automotive supply chains continues to grow, said a statement.
Designed to manage the full spectrum of automotive spare parts logistics, the facility will combine high-density bin storage, pallet racking and specialised handling areas for oversized and bulky components. With a total area of nearly 300,000 sq ft, the site will provide scalable infrastructure to support efficient, high-volume distribution.
Developed by INDU Logistics, part of INDU Group, the facility will serve as a dedicated automotive hub within Hellmann’s Middle East network.
Lee I’Ons, Regional CEO IMEA, Hellmann Worldwide Logistics, said: “Th...
The Sharjah Investment and Development Authority (Shurooq) has signed an agreement with Afhad Holding to activate a 15 095-sq-m plot in Kshisha into a new retail destination marking a key step in expanding commercial infrastructure across Sharjah s growing residential districts. Located in Kshisha 1 the project will be developed on Shurooq-owned land and operated by Afhad Holding as a long-term retail and community asset. The destination will introduce new retail service and lifestyle offerings closer to residents supporting Kshisha s continued growth as one of Sharjah s emerging family-focused communities. The agreement was signed at Al Bait Al Westi during an event organised by Invest in Sharjah and PwC which brought together public and private sector leaders to discuss investment opportunities and cross-sector partnerships in the emirate. Shurooq s role is to enable developments that are commercially sound while remaining deeply connected to the need...
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The Sharjah Investment and Development Authority (Shurooq) has signed an agreement with Afhad Holding to activate a 15,095-sq-m plot in Kshisha into a new retail destination, marking a key step in expanding commercial infrastructure across Sharjah’s growing residential districts.
Located in Kshisha 1, the project will be developed on Shurooq-owned land and operated by Afhad Holding as a long-term retail and community asset.
The destination will introduce new retail, service and lifestyle offerings closer to residents, supporting Kshisha’s continued growth as one of Sharjah’s emerging family-focused communities.
The agreement was signed at Al Bait Al Westi during an event organised by Invest in Sharjah and PwC, which brought together public and private sector leaders to discuss investment opportunities and cross-sector partnerships in the emirate.
"Shurooq’s role is to enable developments that are commercially sound while remaining deeply connected to the need...
Strong market fundamentals cushioned the impact of broader regional uncertainties driving resilience and sustained growth across prime office and retail segments in both Dubai and Abu Dhabi in the first quarter of 2026 according to JLL s latest Real Estate Market Dynamics report. Marked by a flight to quality the office sector demonstrated improved market sentiment while a mixed performance in the retail sector saw domestic-focused segments maintaining resilience and tourism-dependent categories facing softer conditions it said. Taimur Khan Head of Research MEA JLL said: With strong underlying economic fundamentals and agile occupier and landlord strategies the UAE s office and retail sectors demonstrated remarkable resilience and a strong capacity for strategic adaptation as they navigated measured activity in the first quarter. Despite short-term adjustments demand remains robust signalling the market s inherent strength and positioning it for sustai...
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Strong market fundamentals cushioned the impact of broader regional uncertainties, driving resilience and sustained growth across prime office and retail segments in both Dubai and Abu Dhabi in the first quarter of 2026, according to JLL’s latest Real Estate Market Dynamics report.
Marked by a flight to quality, the office sector demonstrated improved market sentiment, while a mixed performance in the retail sector saw domestic-focused segments maintaining resilience and tourism-dependent categories facing softer conditions, it said.
Taimur Khan, Head of Research, MEA, JLL, said: “With strong underlying economic fundamentals and agile occupier and landlord strategies, the UAE’s office and retail sectors demonstrated remarkable resilience and a strong capacity for strategic adaptation as they navigated measured activity in the first quarter. Despite short-term adjustments, demand remains robust, signalling the market’s inherent strength and positioning it for sustai...
Shuaa Capital Saudi Arabia a Capital Market Authority (CMA) licensed capital markets institution and a fully owned subsidiary of Shuaa Capital has signed an agreement with Gate Capital Financial Services an established financial advisory firm to co-launch the first of its kind alternative investment fund dedicated to the consolidation of the fuel retail sector in the Kingdom of Saudi Arabia (KSA). The strategic partnership seeks to build a leading national fuel retail operator with a network of more than 500 service stations across the Kingdom. Saudi Arabia s fuel retail sector comprising over 10 000 stations is undergoing a period of dynamic transformation. Recent regulatory advancements introduced by the Ministry of Energy are elevating operational safety and service standards across the industry creating a strong foundation for long-term growth and enhanced consumer experiences. These developments are driving a structural evolution in the se...
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Shuaa Capital Saudi Arabia, a Capital Market Authority (CMA) licensed capital markets institution and a fully owned subsidiary of Shuaa Capital, has signed an agreement with Gate Capital Financial Services, an established financial advisory firm, to co-launch the first of its kind alternative investment fund dedicated to the consolidation of the fuel retail sector in the Kingdom of Saudi Arabia (KSA).
The strategic partnership seeks to build a leading national fuel retail operator with a network of more than 500 service stations across the Kingdom.
Saudi Arabia’s fuel retail sector, comprising over 10,000 stations, is undergoing a period of dynamic transformation. Recent regulatory advancements introduced by the Ministry of Energy are elevating operational, safety, and service standards across the industry, creating a strong foundation for long-term growth and enhanced consumer experiences.
These developments are driving a structural evolution in the se...
The Central Bank of Bahrain (CBB) has issued directives to retail banks and financing companies regarding the deferral of loan instalments and credit card payments as part of the loan deferral and liquidity support programme. This includes a set of measures to support Bahrain s economy and the financial sector in line with the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa the Crown Prince and Prime Minister. The CBB underlined the importance of the concerned entities clarifying the implementation procedures to customers to ensure ease of access to the programme and its smooth application contributing to improved responsiveness supporting financial stability and enhancing the financial resilience of beneficiaries. The loan deferral and liquidity support programme enables retail banks and financing companies to offer customers the option to defer loan instalments and credit card payments including instalments and interest for three mont...
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The Central Bank of Bahrain (CBB) has issued directives to retail banks and financing companies regarding the deferral of loan instalments and credit card payments, as part of the loan deferral and liquidity support programme.
This includes a set of measures to support Bahrain’s economy and the financial sector, in line with the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.
The CBB underlined the importance of the concerned entities clarifying the implementation procedures to customers, to ensure ease of access to the programme and its smooth application, contributing to improved responsiveness, supporting financial stability, and enhancing the financial resilience of beneficiaries.
The loan deferral and liquidity support programme enables retail banks and financing companies to offer customers the option to defer loan instalments and credit card payments, including instalments and interest, for three mont...
Sales transactions in Dubai s retail real estate market climbed almost 50% year-on-year to AED4.6 billion in 2025 says leading real estate advisory group and property consultancy Cavendish Maxwell. Around 1 450 sales were secured last year a 7.6% increase on 2024 with the off-plan sector accounting for more than half of them. Off-plan sales transactions have surged more than 830% in the last five years rising from 79 in 2021 to nearly 740 in 2025 stated Cavendish Maxwell in its latest insight into Dubai s retail and warehousing sectors. In the retail rental market the number of lease renewals rose by 6.5% in 2025 while new leases were down 15.7% highlighting tenant preferences to stay in existing premises because of limited new availability at prime locations. Rental costs were up an average 7.1% - and by as much as 15% in some areas driven by growth in community retail and steady performance across large scale retail destination...
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Sales transactions in Dubai’s retail real estate market climbed almost 50% year-on-year to AED4.6 billion in 2025, says leading real estate advisory group and property consultancy, Cavendish Maxwell.
Around 1,450 sales were secured last year – a 7.6% increase on 2024 – with the off-plan sector accounting for more than half of them.
Off-plan sales transactions have surged more than 830% in the last five years, rising from 79 in 2021 to nearly 740 in 2025, stated Cavendish Maxwell in its latest insight into Dubai’s retail and warehousing sectors.
In the retail rental market, the number of lease renewals rose by 6.5% in 2025, while new leases were down 15.7%, highlighting tenant preferences to stay in existing premises because of limited new availability at prime locations.
Rental costs were up an average 7.1% - and by as much as 15% in some areas, driven by growth in community retail and steady performance across large scale retail destination...
Dubai s retail and warehouse sectors demonstrated resilience and growth in 2025 supported by strong fundamentals including record tourism population growth and rising e-commerce activity. Both sectors however faced tightening supply conditions that shaped market dynamics throughout the year according to leading property expert Cavendish Maxwell. The retail sector experienced robust growth in 2025 with sales transaction values rising 48.4% year-on-year to AED 4.6 billion significantly outpacing the 7.6% increase in transaction volumes it stated. Rental activity showed signs of supply constraint with new leases declining 15.7% whilst renewals strengthened by 6.5% as tenants prioritised retaining space in prime locations amid limited availability pushing rental rates 7.1% higher year-on-year it stated. Dubai s warehouse segment also maintained strong demand in 2025 though total leasing volumes declined 1.7% year-on-year to approximately 19 100 tran...
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Dubai’s retail and warehouse sectors demonstrated resilience and growth in 2025, supported by strong fundamentals including record tourism, population growth, and rising e-commerce activity. Both sectors, however, faced tightening supply conditions that shaped market dynamics throughout the year, according to leading property expert Cavendish Maxwell.
The retail sector experienced robust growth in 2025, with sales transaction values rising 48.4% year-on-year to AED 4.6 billion, significantly outpacing the 7.6% increase in transaction volumes, it stated.
Rental activity showed signs of supply constraint, with new leases declining 15.7% whilst renewals strengthened by 6.5%, as tenants prioritised retaining space in prime locations amid limited availability, pushing rental rates 7.1% higher year-on-year, it stated.
Dubai’s warehouse segment also maintained strong demand in 2025, though total leasing volumes declined 1.7% year-on-year to approximately 19,100 tran...
As the present conflict in the Middle East continue to unsettle shipping lanes raise freight costs and test supply chain resilience across sectors the Gulf s retail industry is demonstrating a remarkable ability to absorb shocks while keeping shelves stocked and consumer confidence intact. For retailers the challenge is no longer simply about procurement but about navigating geopolitical uncertainty volatile logistics costs and changing sourcing strategies without disrupting everyday life for millions of consumers. Diversified sourcing strategies alternative shipping routes and stronger coordination between logistics providers and government authorities have helped maintain continuity in the movement of essential goods says Mark Mortimer-Davies CEO of Choithrams in an exclusive interview with TradeArabia s Sree Bhat. Even as some fresh food categories experience price fluctuations and freight costs edge upward retailers report tha...
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As the present conflict in the Middle East continue to unsettle shipping lanes, raise freight costs and test supply chain resilience across sectors, the Gulf’s retail industry is demonstrating a remarkable ability to absorb shocks while keeping shelves stocked and consumer confidence intact.
For retailers, the challenge is no longer simply about procurement, but about navigating geopolitical uncertainty, volatile logistics costs and changing sourcing strategies without disrupting everyday life for millions of consumers.
Diversified sourcing strategies, alternative shipping routes and stronger coordination between logistics providers and government authorities have helped maintain continuity in the movement of essential goods, says Mark Mortimer-Davies, CEO of Choithrams, in an exclusive interview with TradeArabia's Sree Bhat.
Even as some fresh food categories experience price fluctuations and freight costs edge upward, retailers report tha...
Engie Solutions Middle East has announced that it has been awarded a key contract by JLL one of the world s leading real estate and investment management companies to deliver fully integrated FM services across the B1 Mall in Al Barsha Dubai. One of Dubai s emerging lifestyle destinations the B1 Mall is a vibrant community hub that blends retail dining and entertainment at the heart of Al Barsha 1. Home to a diverse mix of boutiques food and beverage outlets and curated experiences the mall is a thriving meeting point for residents and visitors seeking authentic design-led encounters. The appointment by JLL underscores Engie Solutions growing reputation for delivering end-to-end FM services across complex high-footfall commercial assets in the UAE The agreement covers a comprehensive scope of hard and soft services security operations and specialist technical systems including chiller plant maintenance said the statement. Under the...
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Engie Solutions Middle East has announced that it has been awarded a key contract by JLL, one of the world’s leading real estate and investment management companies, to deliver fully integrated FM services across the B1 Mall in Al Barsha, Dubai.
One of Dubai's emerging lifestyle destinations, the B1 Mall is a vibrant community hub that blends retail, dining and entertainment at the heart of Al Barsha 1. Home to a diverse mix of boutiques, food and beverage outlets, and curated experiences, the mall is a thriving meeting point for residents and visitors seeking authentic, design-led encounters.
The appointment by JLL underscores Engie Solutions' growing reputation for delivering end-to-end FM services across complex, high-footfall commercial assets in the UAE,
The agreement covers a comprehensive scope of hard and soft services, security operations, and specialist technical systems, including chiller plant maintenance, said the statement.
Under the...
Younger travellers are now driving spend while pas senger behaviour - rather than sheer traffic volumes - has become the defining factor of airport travel retail performance according to a study by Airports Council International Asia-Pacific & Middle East (ACI APAC & MID) the trade group representing over 600 airports across 44 countries and territories. The Travel Retail Study in the Post-Pandemic Era developed by ACI APAC & MID in partnership with Auran and Steer spans 36 major airports in 21 countries and draws on insights from retailers and passengers. It finds that despite traffic surpassing 2019 levels travel retail growth now hinges on passenger mix behaviour and preferences- not traffic volumes alone. Younger travellers particularly Gen Z and Millennials have overtaken older generations as the primary spenders at air...
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Younger travellers are now driving spend, while passenger behaviour - rather than sheer traffic volumes - has become the defining factor of airport travel retail performance, according to a study by Airports Council International Asia-Pacific & Middle East (ACI APAC & MID), the trade group representing over 600 airports across 44 countries and territories.
The Travel Retail Study in the Post-Pandemic Era, developed by ACI APAC & MID in partnership with Auran and Steer, spans 36 major airports in 21 countries and draws on insights from retailers and passengers. It finds that, despite traffic surpassing 2019 levels, travel retail growth now hinges on passenger mix, behaviour, and preferences- not traffic volumes alone.
Younger travellers, particularly Gen Z and Millennials, have overtaken older generations as the primary spenders at air...
Hempel in partnership with AlKarar has unveiled a new customer-focused paint retail concept in Bahrain redefining the way customers experience paint shopping. The opening marks a significant milestone in a partnership spanning over 20 years. AlKarar Hempel s largest trade partner in Bahrain is the Kingdom s leading distributor of building materials and paints with more than 35 years of industry expertise. Designed with the end-user in mind the new store introduces an immersive and interactive retail environment. Customers can explore applied paint samples experience colour and finish combinations in realistic settings and access informative digital and printed materials throughout the space. The concept also incorporates a dedicated consultation area where visitors can sit comfortably with experts to discuss their needs while enjoying a coffee enhancing both convenience and overall customer experience a statement said. Ahmed Abdelraouf Marketing Direct...
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Hempel, in partnership with AlKarar, has unveiled a new customer-focused paint retail concept in Bahrain, redefining the way customers experience paint shopping.
The opening marks a significant milestone in a partnership spanning over 20 years. AlKarar, Hempel’s largest trade partner in Bahrain, is the Kingdom’s leading distributor of building materials and paints, with more than 35 years of industry expertise.
Designed with the end-user in mind, the new store introduces an immersive and interactive retail environment. Customers can explore applied paint samples, experience colour and finish combinations in realistic settings, and access informative digital and printed materials throughout the space. The concept also incorporates a dedicated consultation area, where visitors can sit comfortably with experts to discuss their needs while enjoying a coffee, enhancing both convenience and overall customer experience, a statement said.
Ahmed Abdelraouf, Marketing Direct...
Masarat Mobility Park has signed a development lease agreement with Fortune Parts Industry Gulf (FPI Gulf) a joint venture between Thailand based FPI Group and local partner Fuel Autoparts Company. This milestone represents a significant step in the park s development and supports the localisation of automotive manufacturing in the Kingdom in line with Vision 2030 said a statement. Under this agreement signed at the PIF Private Sector Forum 2026 in Riyadh FPI Gulf a global leader in automotive manufacturing services will establish an automotive parts factory at Masarat Mobility Park located within King Salman Automotive Cluster in King Abdullah Economic City (KAEC) reinforcing the park s position as Saudi Arabia s leading destination for automotive and mobility industries. The facility will specialise in the production and distribution of automotive components using plastic injection molding chrome plating and painting technologies. It will s...
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Masarat Mobility Park has signed a development lease agreement with Fortune Parts Industry Gulf (FPI Gulf), a joint venture between Thailand based FPI Group and local partner Fuel Autoparts Company.
This milestone represents a significant step in the park’s development and supports the localisation of automotive manufacturing in the Kingdom, in line with Vision 2030, said a statement.
Under this agreement, signed at the PIF Private Sector Forum 2026 in Riyadh, FPI Gulf, a global leader in automotive manufacturing services, will establish an automotive parts factory at Masarat Mobility Park, located within King Salman Automotive Cluster in King Abdullah Economic City (KAEC), reinforcing the park’s position as Saudi Arabia’s leading destination for automotive and mobility industries.
The facility will specialise in the production and distribution of automotive components using plastic injection molding, chrome plating, and painting technologies. It will s...
Younger travellers are now driving spend while passenger behaviour rather than sheer traffic volumes has become the defining factor of airport travel retail performance according to a study by Airports Council International Asia-Pacific & Middle East (ACI APAC & MID) the trade group representing over 600 airports across 44 countries and territories. The Travel Retail Study in the Post-Pandemic Era developed by ACI APAC & MID in partnership with Auran and Steer spans 36 major airports in 21 countries and draws on insights from retailers and passengers. It finds that despite traffic surpassing 2019 levels travel retail growth now hinges on passenger mix behaviour and preferences not traffic volumes alone. 56% of responding airports say their commercial revenue is now stronger than 2019 levels . li style=...
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Younger travellers are
now driving spend, while passenger behaviour—rather than sheer traffic
volumes—has become the defining factor of airport travel retail performance,
according to a study by Airports Council International Asia-Pacific &
Middle East (ACI APAC & MID), the trade group representing over 600
airports across 44 countries and territories.
The Travel Retail
Study in the Post-Pandemic Era, developed by ACI APAC & MID in partnership
with Auran and Steer, spans 36 major airports in 21 countries and draws on
insights from retailers and passengers. It finds that, despite traffic
surpassing 2019 levels, travel retail growth now hinges on passenger mix,
behaviour, and preferences—not traffic volumes alone.
Merit a global engagement and incentives technology company headquartered in Riyadh has announced the acquisition of Synchro Marketing an Australian market leader in sales incentive programmes for the automotive and oil & gas sectors. This acquisition underscores Merit s commitment to building a fully integrated global platform for incentives and engagement enhancing its sector-specific capabilities by combining Synchro s deep expertise and long-standing relationships in the Australian market while expanding its presence across the APAC region and supporting its ambitions in serving major global markets. This acquisition strengthens our capabilities and accelerates our next phase of growth said: Julie Barbier-Leblan Group CEO and Co-Founder at Merit. It reflects our commitment to building advanced engagement infrastructure from Saudi Arabia and scaling it globally. Synchro brings exceptional expertise in some of the world s most demanding sales environments...
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Merit, a global engagement and incentives technology company headquartered in Riyadh, has announced the acquisition of Synchro Marketing, an Australian market leader in sales incentive programmes for the automotive and oil & gas sectors.
This acquisition underscores Merit’s commitment to building a fully integrated global platform for incentives and engagement, enhancing its sector-specific capabilities by combining Synchro’s deep expertise and long-standing relationships in the Australian market, while expanding its presence across the APAC region and supporting its ambitions in serving major global markets.
“This acquisition strengthens our capabilities and accelerates our next phase of growth,” said: Julie Barbier-Leblan, Group CEO and Co-Founder at Merit. “It reflects our commitment to building advanced engagement infrastructure from Saudi Arabia and scaling it globally. Synchro brings exceptional expertise in some of the world’s most demanding sales environments...
The global travel retail landscape is undergoing a profound transformation moving fast from a transactional model based on price advantage to an experiential model driven by consumer demand. Beste Ermaner who leads Global Travel Retail for Philip Morris International (PMI) asserts that the Middle East is not just participating in this shift it is leading the global agenda. PMI s own business model is undergoing one of the most ambitious corporate transformations in the industry and Global Travel Retail (GTR) is a pivotal driver. The company s ambition is clear: it aims to become substantially smoke-free by 2030 targeting over two-thirds of total global net revenues from smoke-free products. Ermaner highlights that the Middle East is PMI GTR s most critical region driven by an unprecedented convergence of national investment and evolving legal-age nicotine users behaviour. The Middle East is the originating region of experience-driven consumer b...
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The global travel retail landscape is undergoing a profound transformation, moving fast from a transactional model based on price advantage to an experiential model driven by consumer demand.
Beste Ermaner, who leads Global Travel Retail for Philip Morris International (PMI), asserts that the Middle East is not just participating in this shift, it is leading the global agenda.
PMI’s own business model is undergoing one of the most ambitious corporate transformations in the industry and Global Travel Retail (GTR) is a pivotal driver. The company's ambition is clear: it aims to become substantially smoke-free by 2030, targeting over two-thirds of total global net revenues from smoke-free products.
Ermaner highlights that the Middle East is PMI GTR’s most critical region, driven by an unprecedented convergence of national investment and evolving legal-age nicotine users behaviour.
The Middle East is the originating region of experience-driven consumer b...
The Middle East is redefining the global travel retail landscape moving far beyond transactional sales to prioritise high-impact consumer experiences TTN has learned in conversation with Beste Ermaner Vice President of Global Travel Retail at Philip Morris International (PMI) since March 2024. Airports in the GCC are setting worldwide trends and the complex duty-free environment is rapidly evolving into a high-tech arena Ermaner tells TTN going on to confirm that the Middle East is one of PMI s most critical regions within the global travel retail context. In the past it was more about the deal price advantage. Now experience is the number one driver to visit a duty-free shop - Beste Ermaner /blockquot...
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The Middle East is redefining the global travel retail landscape, moving far beyond transactional sales to prioritise high-impact consumer experiences, TTN has learned in conversation with Beste Ermaner, Vice President of Global Travel Retail at Philip Morris International (PMI) since March 2024.
“Airports in the GCC are setting worldwide trends and the complex duty-free environment is rapidly evolving into a high-tech arena,” Ermaner tells TTN, going on to confirm that the Middle East is “one of PMI’s most critical regions” within the global travel retail context.
In the past, it was more about the deal price advantage. Now, experience is the number one driver to visit a duty-free shop
- Beste Ermaner
stc Bahrain a digital enabler has launched the kingdom s first VAT Free shopping initiative in the telecom sector in partnership with the Planet VAT Free program. This service allows eligible tourists to claim VAT refunds on purchases made at stc retail stores across Bahrain combining value convenience and innovation. By offering visitors savings on telecom devices and accessories purchased in cash stc Bahrain is enhancing the shopping experience while supporting the Kingdom s position as a welcoming and customer focused destination said a statement from the company. The service is available to non residents of Bahrain including GCC nationals departing via Bahrain International Airport or Khalifa Port. Tourists making cash purchases of BD100 ( 263.5) or more at stc stores can obtain a VAT refund tag at the time of purchase and claim their refund before departure through Planet VAT Free counters. The process is simple tra...
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stc Bahrain, a digital enabler, has launched the kingdom’s first VAT Free shopping initiative in the telecom sector in partnership with the Planet VAT Free program.
This service allows eligible tourists to claim VAT refunds on purchases made at stc retail stores across Bahrain, combining value, convenience and innovation.
By offering visitors savings on telecom devices and accessories purchased in cash, stc Bahrain is enhancing the shopping experience while supporting the Kingdom’s position as a welcoming and customer focused destination, said a statement from the company.
The service is available to non residents of Bahrain, including GCC nationals, departing via Bahrain International Airport or Khalifa Port.
Tourists making cash purchases of BD100 ($263.5) or more at stc stores can obtain a VAT refund tag at the time of purchase and claim their refund before departure through Planet VAT Free counters.
The process is simple, tra...
The National Bank of Bahrain (NBB) and Batelco by Beyon have signed a MoU to explore strategic areas of collaboration within their retail and loyalty ecosystems. The strategic agreement aims to enhance customer engagement and broaden the range of value-added services accessible through both institutions. As part of the agreement the duo will assess opportunities to align their loyalty programmes and introduce bundled services to enhance value and convenience for their customers. The partnership will further develop an integrated proposition connecting Batelco s and NBB s digital platforms while introducing tailored offers for users of both institutions. Speaking on the occasion Subah Abdullatif Al Zayani Chief Executive Retail Banking at NBB said: We are excited to partner with Batelco in a shared mission to redefine customer experiences through innovation. Together we will explore introducing smarter more accessible solutions that sim...
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The National Bank of Bahrain (NBB) and Batelco by Beyon, have signed a MoU to explore strategic areas of collaboration within their retail and loyalty ecosystems.
The strategic agreement aims to enhance customer engagement and broaden the range of value-added services accessible through both institutions.
As part of the agreement, the duo will assess opportunities to align their loyalty programmes and introduce bundled services to enhance value and convenience for their customers.
The partnership will further develop an integrated proposition, connecting Batelco’s and NBB’s digital platforms, while introducing tailored offers for users of both institutions.
Speaking on the occasion, Subah Abdullatif Al Zayani, Chief Executive – Retail Banking at NBB, said: "We are excited to partner with Batelco in a shared mission to redefine customer experiences through innovation. Together, we will explore introducing smarter, more accessible solutions that sim...
Dubai South Properties has announced the launch of South Bay Mall its inaugural retail and lifestyle destination strategically located in the heart of the Dubai South Residential District. Spanning approximately 200 000 sq ft. across the ground first and rooftop levels the mall will offer panoramic views of the lagoon and open-air walkways. With its curated blend of retail dining and wellness experiences the mall is designed to elevate the lifestyle of South Bay residents and the broader Dubai South community said the developer. The development will feature 60 retail units two anchor stores and a premium food hall. Complementing these offerings are well-designed outdoor leisure spaces a clubhouse gym spa clinic and dedicated parking for over 400 vehicles all contributing to a vibrant and seamless community experience. South Bay Mall will serve as a dynamic lifestyle hub enhancing South Bay Dubai South s flagship mixed-use wat...
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Dubai South Properties has announced the launch of ‘South Bay Mall’, its inaugural retail and lifestyle destination, strategically located in the heart of the Dubai South Residential District.
Spanning approximately 200,000 sq ft. across the ground, first, and rooftop levels, the mall will offer panoramic views of the lagoon and open-air walkways.
With its curated blend of retail, dining, and wellness experiences, the mall is designed to elevate the lifestyle of South Bay residents and the broader Dubai South community, said the developer.
The development will feature 60 retail units, two anchor stores, and a premium food hall. Complementing these offerings are well-designed outdoor leisure spaces, a clubhouse, gym, spa, clinic and dedicated parking for over 400 vehicles, all contributing to a vibrant and seamless community experience.
‘South Bay Mall’ will serve as a dynamic lifestyle hub, enhancing South Bay, Dubai South’s flagship mixed-use wat...
The current supply-demand imbalance in the UAE s office and retail markets presents a clear pathway for agile investors and developers to unlock significant new value and drive resilient long-term growth reveals JLL s latest Q3 2025 report. Fuelled by evolving consumer preferences corporate priorities and current market dynamics the ongoing transformations create a competitive leasing environment in the two landlord-favoured sectors it says. A shift in consumer behaviour alongside a growing focus on value and convenience in retail formats is shaping the 8.24 million sq m retail inventory in Abu Dhabi and Dubai. Backed by strong demand for prime retail spaces landlords are negotiating higher rental rates. In Abu Dhabi prime super regional malls maintained premium over other categories with a 3.4% rental increase in the year to Q3 2025 while Dubai experienced a substantial 13.5% rise in the same period. This landlord-favoured environment is evident across prime re...
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The current supply-demand imbalance in the UAE’s office and retail markets presents a clear pathway for agile investors and developers to unlock significant new value and drive resilient, long-term growth, reveals JLL's latest Q3 2025 report.
Fuelled by evolving consumer preferences, corporate priorities, and current market dynamics, the ongoing transformations create a competitive leasing environment in the two landlord-favoured sectors, it says.
A shift in consumer behaviour alongside a growing focus on value and convenience in retail formats is shaping the 8.24 million sq m retail inventory in Abu Dhabi and Dubai. Backed by strong demand for prime retail spaces, landlords are negotiating higher rental rates. In Abu Dhabi, prime super regional malls maintained premium over other categories with a 3.4% rental increase in the year to Q3 2025 while Dubai experienced a substantial 13.5% rise in the same period. This landlord-favoured environment is evident across prime re...
Honeywell today announced a three-year agreement with Global Aerospace Logistics (GAL) to accelerate and simplify repair and overhaul services for the UAE s Joint Aviation Command (JAC) and Air Force and Air Defense (AFAD). The agreement focuses on optimising support for Honeywell s T55 turboshaft engines and environmental control systems that will enable UAE military operators with faster component shipping and turnaround times. Through this collaboration GAL will manage end-to-end logistics on behalf of UAE customers from selecting the optimal Honeywell repair facility to overseeing shipping and maintaining full repair visibility. Customers will continue to benefit from Honeywell s parts and repair offering now supported by a streamlined regional logistics model that reduces downtime and enhances mission-readiness for UAE military fleet. Honeywell is proud to support our global military customers with innovative solutions that keep critical operations r...
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Honeywell today announced a three-year agreement with Global Aerospace Logistics (GAL) to accelerate and simplify repair and overhaul services for the UAE's Joint Aviation Command (JAC) and Air Force and Air Defense (AFAD).
The agreement focuses on optimising support for Honeywell’s T55 turboshaft engines and environmental control systems that will enable UAE military operators with faster component shipping and turnaround times.
Through this collaboration, GAL will manage end-to-end logistics on behalf of UAE customers, from selecting the optimal Honeywell repair facility to overseeing shipping and maintaining full repair visibility. Customers will continue to benefit from Honeywell’s parts and repair offering, now supported by a streamlined regional logistics model that reduces downtime and enhances mission-readiness for UAE military fleet.
“Honeywell is proud to support our global military customers with innovative solutions that keep critical operations r...
Bader Al Lamki Chief Executive Officer of Adnoc Distribution said that the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) is witnessing strong regional and international participation that enhances partnerships and allows for the exchange of global expertise in fuel retailing non-fuel retail operations and related services. In a statement to the Emirates News Agency (WAM) on the sidelines of Adipec 2025 Al Lamki announced that Adnoc Distribution is preparing to launch The Hub a new fully integrated concept that redefines the on-the-road retail experience in the UAE. The Hub will serve as a comprehensive destination combining fuel services ultra-fast electric vehicle charging and a wide selection of dining and entertainment options offering an all-in-one experience. He added that the first The Hub station will open in Abu ...
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Bader Al Lamki, Chief Executive Officer of Adnoc Distribution, said that the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) is witnessing strong regional and international participation that enhances partnerships and allows for the exchange of global expertise in fuel retailing, non-fuel retail operations, and related services.
In a statement to the
Emirates News Agency (WAM) on the sidelines of Adipec 2025, Al Lamki announced
that Adnoc Distribution is preparing to launch "The Hub", a new,
fully integrated concept that redefines the on-the-road retail experience in
the UAE.
The Hub will serve as
a comprehensive destination combining fuel services, ultra-fast electric
vehicle charging, and a wide selection of dining and entertainment options,
offering an all-in-one experience.
He added that the first The Hub station will open in Abu ...
Jubail Island today (October 16) announced the first wave of premium retail partners set to open at Souk Al Jubail a pivotal milestone in establishing the island s social heart as a premier destination for refined living. This carefully curated selection of lifestyle brands marks a significant step in shaping Souk Al Jubail into the vibrant walkable community hub it was envisioned to be - a place where well-being convenience and community seamlessly connect. Owned by Jubail Island Investment Company (JIIC) and developed by LEAD Development Jubail Island comprises six residential villages nestled among the breathtaking natural beauty and rich biodiversity of the mangroves. This low-density low-impact landmark community seamlessly blends sustainable living luxury and wellness offering an iconic new addition to Abu Dhabi s real estate landscape. The new offerings reflect Jubail Island s commitment to creating a modern neighbourhood centre d...
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Jubail Island today (October 16) announced the first wave of premium retail partners set to open at Souk Al Jubail, a pivotal milestone in establishing the island’s social heart as a premier destination for refined living.
This carefully curated selection of lifestyle brands marks a significant step in shaping Souk Al Jubail into the vibrant, walkable community hub it was envisioned to be - a place where well-being, convenience, and community seamlessly connect.
Owned by Jubail Island Investment Company (JIIC), and developed by LEAD Development, Jubail Island comprises six residential villages nestled among the breathtaking natural beauty and rich biodiversity of the mangroves.
This low-density, low-impact landmark community seamlessly blends sustainable living, luxury, and wellness, offering an iconic new addition to Abu Dhabi's real estate landscape.
The new offerings reflect Jubail Island’s commitment to creating a modern neighbourhood centre d...
The Abu Dhabi Investment Office (ADIO) and Abu Dhabi Ports Group (AD Ports Group) have signed a strategic co-operation agreement with Stellantis one of the world s largest automotive manufacturers and a leading OEM to develop an integrated automotive ecosystem that supports the UAE capital s vision of becoming a strategic hub for automotive exports technologies and industrial innovation. The signing of the MoU reflects the joint efforts of ADIO and AD Ports Group to expand Abu Dhabi s industrial and trade sectors by launching impactful initiatives and forging global partnerships across key industries reinforcing the emirate s position as a global centre for export and re-export. The agreement aims to bolster Abu Dhabi s automotive sector by expanding into the Middle East and Africa (MEA) markets developing a comprehensive ecosystem for autonomous taxi solutions and advancing research and development in next-generation mobility systems and automotive technologies. /...
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The Abu Dhabi Investment Office (ADIO) and Abu Dhabi Ports Group (AD Ports Group) have signed a strategic co-operation agreement with Stellantis, one of the world’s largest automotive manufacturers and a leading OEM, to develop an integrated automotive ecosystem that supports the UAE capital’s vision of becoming a strategic hub for automotive exports, technologies and industrial innovation.
The signing of the MoU reflects the joint efforts of ADIO and AD Ports Group to expand Abu Dhabi’s industrial and trade sectors by launching impactful initiatives and forging global partnerships across key industries, reinforcing the emirate’s position as a global centre for export and re-export.
The agreement aims to bolster Abu Dhabi’s automotive sector by expanding into the Middle East and Africa (MEA) markets, developing a comprehensive ecosystem for autonomous taxi solutions, and advancing research and development in next-generation mobility systems and automotive technologies.
Abu Dhabi s AD Ports Group and SPG Yantai Port a large government-owned enterprise that operates major ports in East China s Shandong province have signed a preliminary strategic agreement to establish green automotive business parks promoting vehicle trade between Asia Middle East and North Africa and leveraging sustainable energy. Recognising the significant opportunity to establish a comprehensive China-Middle East-Africa automotive logistics corridor the parties will combine their infrastructure market positions and expertise to deliver an efficient supply chain for both new and second-hand vehicles. The initiative will leverage China s position as the world s largest automotive market with significant export potential alongside Abu Dhabi s role as a rapidly growing trade and logistics hub. Under the terms of the agreement the parties will explore ...
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Saudi Arabia s Diriyah Company has launched Jabal AlQurain Avenue a pioneering new area designed as a multidisciplinary incubator for Saudi and regional entrepreneurs and emerging talent in the retail and F&B sectors. Jabal AlQurain Avenue will provide flexible spaces for emerging and established businesses offering a dynamic platform for creative Saudi entrepreneurs to nurture and develop innovative brands that will appeal to Diriyah residents and visitors. It will also form a significant part of the much larger Qurain Cultural District that was announced in 2024 the developer said. In addition to its Saudi-focused retail and F&B offer the new avenue will also feature a dynamic mix of arts retail offices and residences inviting people to live work explore local brands and enjoy authentic dining experiences. A place that is designed to become a vibrant hub where culture and modern urban...
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Saudi Arabia has held discussion with China s discussions with Minth Group a global automotive parts manufacturer specialising in aluminum and plastic components on strategic cooperation in automotive supply chain development. Saudi Arabia s Minister of Industry and Mineral Resources Bandar Alkhorayef explored with senior executives from Minth Group opportunities to integrate Saudi-produced aluminum and plastic materials into the company s automotive parts manufacturing processes during his visit to Shanghai said a Saudi Press Agency report. The conversations addressed Saudi Arabia s automotive industry targets of producing 300 000 vehicles annually by 2030 with Minth Group s expansion plans aligning with the Kingdom s vision to develop comprehensive automotive supply chains. The discussions highlighted how Saudi Arabia s growing aluminu...
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Geberit the European leader in sanitary solutions has announced the grand opening of its first exclusive retail sanitary showroom in the Gulf Region in partnership with Al Sahoo. The new Al Sahoo Geberit showroom located at Lot 90 Mall Kuwait will officially open on September 29. This milestone highlights Geberit s continued growth and long-term commitment to the Gulf region the company said. The grand opening will be officiated by Tamer Qazi Managing Director of Geberit Gulf alongside Mishal Al-Sarahid General Manager Al Sahoo Group. Distinguished guests key partners and senior management teams from both Al Sahoo and Geberit will also be in attendance to celebrate this landmark occasion. This exclusive showroom marks a new era in premium sanitary retail in the Gulf offering customers the opportunity to experience Geberit s innovati...
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Seed Group a subsidiary of The Private Office of Sheikh Saeed bin Ahmed Al Maktoum has partnered with Nawgati to improve UAE s fuel station software. The partnership will use advanced digital tools to enhance performance at retail petrol outlets in Dubai and across the country. Nawgati an Indian fuel-tech company focuses on congestion management compliance monitoring and operational optimisation for fuel stations. Its platform Aaveg integrates deep learning mobile applications and real-time analytics to streamline workflows and reduce service bottlenecks. The alliance will provide Nawgati with access to a high-level ecosystem enhancing its UAE positioning and supporting Dubai s smarter mobility solutions. Hisham Al Gurg CEO of Seed Group and The Private Office of Sheikh Saeed bin Ahmed Al Ma...
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Mashreq one of the leading financial institutions in MENA region has officially announced the commercial launch of its full services digital retail bank in Pakistan Mashreq Bank Pakistan. The bank was launched in the presence of Prime Minister Muhammad Shehbaz Sharif in Islamabad. This marks the first full-scale international deployment of Mashreq s award-winning digital banking platform outside the UAE and a pivotal milestone in Pakistan s digital banking journey. The event was also graced by key state and regulatory dignitaries including Muhammad Aurangzeb Minister of & Revenue; Jameel Ahmad Governor State Bank of Pakistan; Mohammad Sultan Al-Kaitoob Head of the Economic Political and Media Affairs in the Embassy of UAE in Pakistan; Lieutenant General Muhammad Munir Afsar Chairman of NADRA among others. The event was attended by Mashreq s global l...
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Al-Futtaim a regional retail powrhouse has acquired a 49.95% stake in Cenomi Retail a leading retail brand in Saudi Arabia for a total consideration of SAR2.52 billion ( 686 million) at SAR44 per share. This transaction marks one of the largest foreign strategic investments in a Saudi-listed retail company underscoring the Kingdom s position as a premier global investment destination and a thriving hub for consumer-driven growth said a statement. Aligned with the goals of Saudi Vision 2030 the partnership supports key national priorities including economic diversification private sector development and the transformation of the retail sector. Al-Futtaim s entry as a strategic shareholder marks a major milestone in Cenomi Retail s transformation bringing global expertise advanced digital capabilities and operational excellence. The partner...
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Members of the European Parliament (MEPs) on Tuesday adopted their proposals on new EU circularity rules to cover the entire vehicle lifecycle from design to final end-of-life treatment. The draft measures backed by 431 MEPs with 145 against and 76 abstentions aim to boost the automotive sector s transition to a circular economy by reducing the environmental impact linked to the production and end-of-life treatment of vehicles and strengthening the sustainability of the car recycling industry in Europe. Specific rules will apply to all vehicles except for special-purpose vehicles vehicles designed and built for use by the armed forces civil defence fire and emergency medical services and vehicles of historical and special cultural interest said a Wam news agency report. New vehicles should be designed so as to allow the easy removal of as many parts and components as possible by authorised treatment...
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Snowflake an AI Data Cloud company has announced the continued expansion and significant momentum of its AI Data Cloud for Manufacturing with a focused acceleration of automotive-specific solutions. Since April 2023 Snowflake has seen significant adoption of its platform within the manufacturing sector including a substantial 416% increase in the development of Data Application and Data Collaboration initiatives reflecting the growing use of Snowflake to build custom manufacturing solutions and securely share data said a statement. Additionally Snowflake has seen a 185% increase in Analytics deployments as manufacturers leverage the platform for deeper business insights and a 188% growth in Data Science solutions deployed for advanced predictive modelling and AI applications the company said. Now Snowflake is further tailoring its AI Data Clo...
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The Abu Dhabi Securities Exchange (ADX) today (August 7) onboarded Thndr a leading retail investment platform in the Mena region as the first remote retail trading member on the second largest exchange in the Mena region. Thndr a Hub71 start-up is one of Mena s first fully digital investment platforms. Regulated by the Abu Dhabi Global Market s (ADGM) Financial Services Regulatory Authority (FSRA) Thndr is set to make its mark in the UAE following its strong track record in the region. In 2024 alone Thndr recorded over 13 billion in trading value and executed 12 million trades. With more than four million downloads access to three markets the UAE Egypt and the US and a wide range of asset classes including stocks gold mutual funds and savings products Thndr is building a true investment one-stop shop. According to ADX Thndr users will soo...
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Union Coop a key consumer cooperative in the UAE has joined hands with Positive Zero a leading provider of decentralised clean energy solutions for the launch of one of the Middle East s largest solar energy projects in the retail sector. The long-term agreement will see the installation of solar photovoltaic (PV) systems on roofs and parking areas across Union Coop locations aimed at significantly reducing carbon emissions and supporting the UAE s net-zero targets. Scheduled for completion by mid-2026 the project will cover up to 30 Union Coop sites across Dubai and the Umm Al Quwain Coop headquarters (managed by Union Coop). With an installed capacity of 17.3MW the system is expected to produce approximately 29.23 gigawatt-hours of clean electricity annually - enough to power over 4 000 homes. The initiative will red...
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Leading UAE business conglomerate Al Futtaim today (July 20) announced that it has agreed to buy a major stake in Cenomi Retail Saudi Arabia s leading retail brand partner in a deal worth SAR2.5 billion ( 666 million). Pursuant to the share purchase agreement Al Futtaim will acquire a 49.95% stake in Cenomi Retail (each share priced at SAR44) from the selling shareholders namely Fawaz Abdulaziz Alhokair Abdul Majeed Abdulaziz Alhokair Salman Abdulaziz Alhokair Saudi FAS Holding Company and FAS Real Estate Company. Al Futtaim said it is currently in talks with Cenomi Retail negotiating a shareholder loan agreement pursuant to which Al Futtaim will extend a shareholder loan of an amount not less than SAR1.3 billion upon completion of the transaction to help strengthen Cenomi Retail s balance sheet and support its next phase of growth the entry of which is a completion condition for the...
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The global automotive e-fuel market is expected to reach a value of 42.1 billion by 2034 growing at a compound annual growth rate (CAGR) of 33.1 per cent from 2025 to 2034. Governments are using strict emissions regulations to encourage the use of e-fuels to reduce greenhouse gas emissions offering financial incentives for companies to develop sustainable fuel technologies according to a report by Global Market Insights. E-fuels are considered a sustainable option for reducing emissions in sectors where electricity supply is not feasible including aviation and shipping. Expanding e-fuels production will help meet the growing demand for sustainable alternatives to traditional fossil fuels. E-fuels are compatible with existing gasoline and diesel engines making them a cost-effective solution for reducing carbon emissions without requiring immedi...
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The Middle East continues to distinguish itself as a global economic outperformer with the UAE and Saudi Arabia leading the charge. While global GDP growth is projected at 3.2% this year the UAE is expected to grow by 4% and Saudi Arabia by 3% with further acceleration anticipated through 2027 according to a report by NielsenIQ a leading consumer intelligence company. Consumers across these regions continue to demonstrate strong resilience amid ongoing challenges stated the report. This robust performance is underpinned by strategic international partnerships balancing ties with both BRICS (Brazil Russia India China and South Africa) and Western economies alongside targeted investments in digital transformation and a young digitally connected population it added. Consumer markets show resilience &n...
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Prospect a leading real estate developer has joined hands with Mulk Properties for the official launch of its boutique office and retail development - The LX - within Arjan community in Dubai featuring 71 office units and two curated retail spaces. The new project comes in line with its strategic move to address Dubai s growing demand for premium commercial spaces. One Broker Group (OBG) will be the exclusive sales partner for the project which was unveiled at a high-profile launch event at the Waldorf Astoria Palm Jumeirah. A landmark project being set up at an investment of AED350 million ( 95.2 million) the LX features 71 premium boutique office units and 2 curated retail spaces offering modern businesses and discerning investors a rare opportunity to own commercial assets in a location experiencing unprecedented growth. S...
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The retail industry in the GCC is undergoing a sweeping transformation. Once dominated by traditional models the sector has now emerged as a key enabler of economic diversification technological innovation and consumer-centric growth according to a report by LOGIC Consulting. The sector is expanding rapidly and is projected to reach over 390 billion by 2028 driven by digital innovation changing shopper behavior and strategic government initiatives stated LOGIC in its report titled Revolutionizing Retail: Unveiling GCC s Five-Year Transformation. Retail is no longer just a transactional space in the region it is becoming a cornerstone of national development agendas fostering private investment and energizing adjacent sectors such as logistics real estate and tourism it added. The report highlights the evolution of consumer expectations across the GCC....
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OMODA & JAECOO leading vehicle manufacturers have established a 12 000-sq-m regional spare parts distribution hub in Jebel Ali Free Zone (Jafza). The largest of its kind hub in the Middle East for a Chinese automotive brand this facility has been launched through a strategic partnership with global logistics leader Maersk. The hub ensures 100% spare parts availability and delivery within 24 to 48 hours setting new benchmarks for aftersales support and operational readiness in the region said Alaa Shata Regional Brand Manager at OMODA & JAECOO. Their UAE strategy is underpinned by a strong local presence through partnerships with AutoRun (Dubai) MAHY Khoory Automotive (Abu Dhabi) and Galadari Automobiles (Northern Emirates) ensuring nationwide access support and customer engagement she said OMODA & JAECOO is ...
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Saudi Arabia s retail real estate sector is undergoing a transformation driven by the country s Vision 2030 initiative economic diversification efforts and an evolving consumer landscape. The outlook for 2025-2026 remains optimistic with strong demand anticipated due to factors such as population growth increasing tourism and changing consumer preferences according to top ratings agency S&P Global. The growth path for retail real estate in Saudi Arabia is looking good for 2025-26. However the sector is also facing challenges including oversupply risks and evolving retail formats that could weigh on rental rates and real estate landlords profitability amid high capital spending said the ratings agency. Additionally lower oil prices and market volatility amid escalating global trade tensions and a fragmented...
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Retail investors demonstrated strong conviction on April 3 the first full trading day following President Donald Trump s so-called Liberation Day and the announcement of new US tariffs. Instead of panic-selling many chose to buy the dip seeing the sharp sell-off as an overreaction to macroeconomic developments said Lale Akoner Market Analyst at eToro. Licensed and regulated by the Abu Dhabi Global Market eToro is a major trading and investing platform. Many saw it as a buying opportunity in quality names like Nvidia Amazon and Nike which have strong fundamentals but were dragged down in the broad risk-off move noted Akoner. Nike for example plunged due to tariff concerns on imports from Southeast Asia but long-term bulls likely saw its brand strength and market dominance as worth holding through short-term supply chain pressures she stated. eToro data reveals that on April 3: b...
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Retail investors demonstrated strong conviction on April 3, the first full trading day following President Donald Trump’s so-called ‘Liberation Day’ and the announcement of new US tariffs.
Instead of panic-selling, many chose to buy the dip, seeing the sharp sell-off as an overreaction to macroeconomic developments, said Lale Akoner, Market Analyst at eToro.
Licensed and regulated by the Abu Dhabi Global Market, eToro is a major trading and investing platform.
"Many saw it as a buying opportunity in quality names like Nvidia, Amazon, and Nike, which have strong fundamentals but were dragged down in the broad risk-off move," noted Akoner.
"Nike, for example, plunged due to tariff concerns on imports from Southeast Asia, but long-term bulls likely saw its brand strength and market dominance as worth holding through short-term supply chain pressures," she stated.
eToro data reveals that on April 3:
CYVN Holdings an advanced mobility operator and investment vehicle based in Abu Dhabi and Bahrain Mumtalakat Holding Company the sovereign wealth fund of the Kingdom of Bahrain today announced the successful completion of CYVN s acquisition of McLaren Automotive and a non-controlling stake in McLaren Racing. This follows the strategic agreement that CYVN signed in December 2024 with Mumtalakat which was subject to customary closing conditions and obtaining regulatory approvals. This milestone marks a significant step in CYVN s strategy to build a leading globally connected mobility platform and unlock McLaren s full potential in the high-performance automotive sector. The completion of this transaction also aligns with Mumtalakat s strategy to optimise and enhance its portfolio while ensuring sustainable long-term financial returns.- TradeArabia News Service /st...
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Mannai Trading the exclusive dealer of BYD in Qatar the world s leading manufacturer of new energy vehicles has unveiled the much-anticipated new BYD Sealion 7 in Qatar. The official launch event took place on March 11 at the BYD Showroom in Tornado Tower Doha. The Sealion 7 BYD s latest addition to its world-leading and renowned electric vehicle lineup is a fully electric mid-size SUV that combines powerful performance sophisticated design and smart technology. Blending sleek ocean-inspired design with cutting-edge engineering the Sealion 7 offers tech-savvy motorists an exhilarating yet eco-friendly driving experience. Attendees at the launch event got an exclusive first look at the New BYD Sealion 7 experienced firsthand its state-of-the-art e-Platform 3.0 architecture an impressive dual-motor system delivering 523 HP and a remarkable range o...
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Saudi-based Umm Al Qura for Development and Construction today (March 13) announced the successful completion of the offering period for retail investors for the company s initial public offering (IPO). Umm Al Qura is the owner developer and operator of Masar Destination one of the largest redevelopment projects in Makkah city. Its current majority shareholders comprise state-owned entities and Saudi private sector including the Saudi sovereign wealth fund PIF the General Organization for Social Insurance (GOSI) and Dallah Al Baraka Holding. Announcing this the Saudi developer said the retail subscription process which involved a maximum of 13 million shares (representing 10% of the total offer shares) kicked off on March 5 and ended on March 9. It saw participation from 1 048 530 subscribers indicating a coverage of 20 times with...
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Roshn Group the kingdom s leading multi-asset class real estate developer powered by Saudi wealth fund PIF has announced that it has awarded new contracts worth SAR1.5 billion ( 400 million) for Sedra Community the group s largest integrated development in Riyadh. The scope of work includes construction of more than 1 900 residential units as well as infrastructure development works related to the retail facilities of Sedra said Roshn in a statement. These agreements were signed at the third edition of the PIF Private Sector Forum in Riyadh thus reflecting Roshn s strategic efforts to strengthen the kingdom s construction sector expand local expertise and enhance supply chain localization. The first agreement valued at SAR650 million was signed for development of more than 900 residential units and sports facilities at Sedra Community. ...
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Tasaru Mobility Investments a prominent investment entity wholly owned by the Public Investment Fund (PIF) of Saudi Arabia has launched a strategic joint venture (JV) in collaboration with Bahri the National Shipping Company of Saudi Arabia and Mosolf Group a leading European provider of automotive logistics and technology solutions. This joint venture aims to deliver comprehensive and innovative logistics solutions tailored to meet the needs of the automotive and mobility sectors in Saudi Arabia. It embodies the concept of sustainable logistics innovation by leveraging advanced technologies and developing infrastructure that supports the transformation of the automotive and mobility landscape said a statement. The JV will leverage the strength of all three partners to deliver integrated world-class logistics solutions for the automotive and mobility sectors in Saudi Arabia. These services include shipping transportation electric vehicle handling insp...
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Tasaru Mobility Investments, a prominent investment entity wholly owned by the Public Investment Fund (PIF) of Saudi Arabia, has launched a strategic joint venture (JV) in collaboration with Bahri, the National Shipping Company of Saudi Arabia, and Mosolf Group, a leading European provider of automotive logistics and technology solutions.
This joint venture aims to deliver comprehensive and innovative logistics solutions tailored to meet the needs of the automotive and mobility sectors in Saudi Arabia. It embodies the concept of sustainable logistics innovation by leveraging advanced technologies and developing infrastructure that supports the transformation of the automotive and mobility landscape, said a statement.
The JV will leverage the strength of all three partners to deliver integrated, world-class logistics solutions for the automotive and mobility sectors in Saudi Arabia. These services include shipping, transportation, electric vehicle handling, insp...
The UAE and KSA airport retail sales are expected to reach 161.4 billion and 139.1 billion respectively by 2028 according to Abra a leader in luxury retail fit-outs in the UAE and the Mena region. In its latest report Abra says that the GCC s airport retail sector is experiencing unprecedented expansion fuelled by increasing passenger traffic growing tourism and significant investments in airport infrastructure. Against this backdrop Abra is strategically positioned to capitalise on these opportunities and transform airport retail into iconic luxury destinations supported by its advanced solutions and unparalleled craftsmanship. It has completed over 200 projects over the last 3 years at 21 airport destinations specialising in fragrance beauty confectionery liquor and fashion categories. It navigates unique challenges such as security regulations mater...
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Industry experts have highlighted the shift towards inclusivity in the automotive industry as a result of electric vehicles AI and more focus from a leadership perspective on diversity inclusion and equity. At Automechanika Dubai the largest event for the automotive aftermarket industry in the wider Middle East region the importance of diversity and inclusion in the automotive industry was underscored during the event s opening day. Mobility expert Dr Maya Men Dror was joined by a panel of female leaders from the automotive industry including Shubra Srivastava CEO & Founder of GaragePlug Sara Rachid Head of Automotive and Technology verticals UAE Oman and Qatar Maersk Bhavika Sachdeva Director Trinity Lubes and Grease and Gaitri Jeswani COO Eurodiesel Services as part of the session Promoting Diversity and Inclusion in the Automotive Sector. span s...
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Diriyah Company is collaborating with Apple on the planning of a future iconic store in Diriyah The City of Earth marking a significant milestone in the retail and lifestyle offering of the Diriyah project. Apple has confirmed plans to introduce several flagship retail locations across Saudi Arabia by 2026 including an iconic store in Diriyah home to the UNESCO World Heritage site At-Turaif renowned for its rich history and cultural significance as the birthplace of the Kingdom of Saudi Arabia. Jerry Inzerillo Group CEO of Diriyah Company said: This future partnership enhances Diriyah s retail landscape and aligns with our vision of fostering a vibrant economy that embraces technology and creativity while demonstrating our commitment to becoming a global destination. Saudi Arabia is making a notable impact on the retail sector and this collaboration with Apple for an iconic retail...
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Zayani Motors has announced the opening of its new spare parts shop in Bahrain s Jidhafs effectively expanding its footprint and service offerings across the Capital Governorate. The new location is part of the company s strategic plan to enhance its connectivity with valued customers and ensure they have prompt access to genuine automotive parts for their vehicles including those from renowned brands such as Mitsubishi Motor Company MG Motor HONGQI Fuso and more. As a significant milestone in Zayani Motors ongoing growth and expansion strategy the Jidhafs spare parts shop marks the company s sixth branch dedicated to delivering high-quality automotive components joining the current locations in Arad Hamad Town Manama Ma ameer and Salmabad. The new facility will operate from Saturday to Thursday from 8 am to 5 pm while it will be closed on Friday. &...
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Diriyah Company Saudi Arabia s mixed-use developer driving the transformation of historic Diriyah into a premier global destination will present the latest developments of its flagship project - with special focus on Diriyah Square - at the upcoming MAPIC 2024 in Cannes. A world-leading retail summit MAPIC will be held from November 26 to 28 in the French city. Diriyah Company said its participation at MAPIC features a series of high-level engagements underscoring the company s commitment to shaping the future of retail and urban development. The Saudi developer will put spotlight on Diriyah Square - the dynamic centrepiece of the 14-sq km masterplan. Designed to be the vibrant heart of Diriyah it is poised to become a landmark destination for shopping dining culture and lifestyle stated the c...
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Lulu Retail the largest and fastest growing pan GCC full line retailer has seen its net profit from continuing operations soar 126% to 35.1 million driven by improved operating profit and better cost management. For the nine-month (9M) period net profit from continuing operations improved by 73.3% to 151.5 million. Lulu Retail delivered robust revenue growth in Q3 2024 reaching 1.86 billion up 6.1% YoY. The strong sales performance was driven by significant growth in key markets including UAE Saudi Arabia and Kuwait with sales growth across key product categories including double-digit growth in Fresh Food and mid to high single-digit improvement in Electrical Goods. Like-for-like (LFL) sales in Q3 2024 increased by 1.2% to 1.7 billion while LFL sales for 9M 2024 increased by 2.2% to 5.3 billion. Strong revenue growth /spa...
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A staggering 51% of luxury retail employees plan to leave their jobs amid a talent crisis gripping the industry said a landmark report titled The Advisor Effect: Driving Retail Success by Re-imagining the Role of the Client Advisor . Unveiled by CXG a leading consulting and solutions firm dedicated to enhancing luxury brand performance through innovative customer and employee experience strategies the study said this marks a notable increase from 30% just two years prior. The report focuses on developing strategies for recruitment onboarding training and retention. It is based on insights gathered from over 100 000 customer experience evaluations for luxury brands worldwide 12 000 surveys conducted with retail employees from 12 luxury brands between 2022 and 2024 and 27 in-depth interviews with senior professionals across the fashion jewellery and beauty sectors in Europe the US and China....
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Lulu Retail Holdings the largest and fastest growing pan-GCC full-line retailer has started trading on the Abu Dhabi Securities Exchange (ADX) after its record-breaking Initial Public Offering (IPO). Lulu s IPO raised gross proceeds of AED6.32 billion ( 1.72 billion) making it the largest offering in the UAE in 2024 to date. The offering saw aggregate demand of over AED135 billion from local regional and international investors a record for a non-Government UAE IPO over the past 10 years and an oversubscription level of more than 25 times across all tranches (excluding Cornerstone Investors). Cornerstone investors included leading sovereign and institutional investors from across the GCC. A record 82 000 retail investors subscribed for shares in the IPO demonstrating consumers awareness and connection with the Lulu brand across the GCC with around 50 000 individuals registering for an ADX Nation...
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Cenomi Retail Saudi Arabia s pioneering retail brand partner has made a significant turnaround in the third quarter (Q3) posting a net profit of SR19 million ( 5.06 million) compared to a huge net loss of SR203 million in Q3 2023. For the first nine months (9M) of 2024 Ceneomi made a net loss of SR48 million compared to a loss of SR89 million in 9M-23. However the company achieved solid margins with gross margin improving to 10.6% from 7.5% in Q3-23. This was supported by wide-ranging cost rationalisation initiatives and continued progress on the brands divestment programme announced earlier this year in addition to the growth of Tier 1 Champion brands in the portfolio. Sale of non-core brands During the quarter an additional 5 non-core brands: Charles & Keith Estee Lauder Nine West Pedro a...
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Lulu Retail Holdings the largest and fastest growing pan-GCC full-line retailer today announced the successful completion of the bookbuild and public subscription process for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The offering was over 25 times oversubscribed with orders of more than AED135 billion ( 37 billion) received across all tranches (excluding Cornerstone Investors). Lulu Retail confirmed that the final offer price for its ordinary shares has been set at AED2.04 per share pricing at the top of the previously announced offer price range and implying a market capitalisation of the group at listing of AED21.07 billion ( 5.74 billion). The offering raised gross proceeds of AED6.32 billion ( 1.72 billion) making it the largest UAE IPO of 2024 to date. The IPO received exceptional retail investor in...
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Lulu Retail Holdings the largest and fastest growing pan-GCC full-line retailer and a public company limited by shares incorporated in the Abu Dhabi Global Market (ADGM) today announced an increase in the size of its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The total Offering size has been increased to 3 098 671 605 ordinary shares from the previously announced 2 582 226 338 ordinary shares. The offering size now represents 30% (previously 25%) of the total issued shares in the company which are to be sold by the company s sole shareholder Lulu International Holdings Limited (the selling shareholder). The additional 516 445 267 offer shares have been wholly allocated to the Qualified Investor Offering (Tranche Two) accessible to Professional Investors only as defined in the local prospectus. The offer price range is unchanged at be...
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Lulu Retail Holdings the largest and fastest growing pan-GCC full-line retailer and a public company limited by shares incorporated in the Abu Dhabi Global Market (ADGM) today announced its intention to proceed with an Initial Public Offering (IPO) and to list its shares for trading on the Abu Dhabi Securities Exchange (ADX). KEY HIGHLIGHTS OF THE OFFERING A total of 2.582 billion ordinary shares each with a nominal value of 0.014 (which is equivalent to AED0.051) representing 25% of the total issued shares in the company are to be sold by the company s sole shareholder Lulu International Holdings Limited. The offering will be made available to UAE retail investors including eligible employees of the group as part of the UAE Retail Offering; to professional investors as part of the Qualified Investor Offering; and to eligible senior executives of the group as part of the Senior Ex...
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Najm for Insurance Services has signed five agreements with major automotive dealers in KSA and honoured 150 automotive dealers and certified workshop owners as part of the Najm Repair Network Service NRN . The agreements were signed with Al-Wallan Trading Company Al-Jabr Trading Company Abdullah Hashim Company Limited AlTawkilat Universal Motors and Mohamed Youssef Naghi-Hyundai to join the NRN repair service providers. This was part of the Integrated Partnerships forum held in Riyadh attended by representatives from the Insurance Authority the Saudi Standards Metrology and Quality Organisation insurance company leaders major automotive dealers as well as owners of classified repair centers and workshops from various regions and senior officials from Najm. Future of insurance ...
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Alandalus Property has started work on a major commercial development in Makkah being developed at a total investment of SAR831 million ( 221.4 million) in the Umm Jurfan neighbourhood of the Saudi city. On completion the project will boast 350 rental units including major showrooms retail outlets a hypermarket an entertainment zone as well as indoor and outdoor café and restaurant said Alandalus Property in its filing to the Saudi bourse Tadawul. Spanning a 127 434 sq m area the key commercial property comprises two floors and multi-level parking facilities for 1 800 cars it added. The land was purchased by Alandalus Property through the company Masat Property which the company s owns 25% of its capital while Buroj International Company owns the rest 75% stake. The Board of Directors of Masat Property ...
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Average rental rates across Riyadh s retail market have risen by 3% to SR2 725 ( 727) psm for both regional and super regional malls in the last 12 months while occupancy rates across the retail market rose by 5 percentage points to 90%. According to global property consultancy Knight Frank s Summer 2024 Saudi Arabia Retail Market Overview the total existing retail supply in Riyadh stands at 3.6 million sq m with around 27 050 sq m of retail space entering the market in Q1 2024. Knight Frank forecasts that the capital s retail stock will grow by 28% to 4.6 million sq m by 2026. In contrast to the capital Jeddah and the Dammam Metropolitan Area (DMA) have experienced subdued retail market growth in the last 12 months with occupancy rates dropping by 1 percentage point in both cities to 84% and 89% respectively says Knight Frank. Lease rates have responded with average rents in Jeddah dropp...
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Retail media advertising spend is forecast to reach 153.3 billion worldwide in 2024 according to WARC s latest analysis. The continued growth is fuelled by advances in off-site targeting as commerce data infuses into non-retail environments. All the while Amazon continues to tighten its grip on the retail media market. WARC Digital Commerce has published its annual report looking at the trends having an outsized impact on the future of this dynamic and hyper-competitive space. Gregory Grudzinski Reports Editor WARC Digital Commerce and author of the study says: Following the explosion of digital commerce onto the advertising landscape this report looks at trends in four areas that are having a profound impact on the future of this fast-growing and complex space to provide an overarching view of what the future holds and what marketers need to do today to prepare for it. /div...
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Standard Chartered is among the first few institutions to offer locally domiciled funds for retail clients in the UAE in partnership with international providers. This is in line with the new Securities and Commodities Authority (SCA) regulation which restricts the promotion of foreign funds to professional investors. Standard Chartered has partnered with leading international companies to provide best-in-class products to its retail clients including Amundi a global asset manager with over 2 trillion in assets under management; Aditum Investment Management Limited an asset manager licensed by the Dubai Financial Services Authority with over 6 billion in assets; and ClearStream a leading global company specialising in custody and settlement of securities. The new offering underlines Standard Chartered s commitment to supporting the SCA in driving the growth of the local asset management sec...
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Spinneys 1961 Holding an operator of premium grocery retail supermarkets has announced that following high levels of demand it will increase the number of shares allocated to the UAE Retail Offering of its 375 million IPO. The public offering to subscribers in the First Tranche has been increased from 45 million shares to 63 million shares equivalent to 7% of the total offer shares (previously 5% of the offer shares). The decision to increase the allocation size of the UAE Retail Offering is based on significant investor demand from the First Tranche subscribers. Total size unchanged The total size of the offering remains unchanged at 900 million shares representing 25% of total issued share capital of the company. To accommodate the increased allocation of the UAE Retail Offeri...
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Automechanika Riyadh Saudi Arabia s leading trade show for the automotive aftermarket will address the ongoing training needs for those within the industry when it returns to the Riyadh from April 30 to May 2 2024. Taking place on the final day of the exhibition a training workshop will be dedicated to navigating aftersales in the automotive industry as it continues to evolve and grow with the market value expected to reach 9.4 billion by 2027 according to data by TechSci Research. New technologies including electric vehicles (EVs) advanced driver assistance systems (ADAS) and connected car features are increasing the demand for more specialist training in the country while the need for well-trained professionals able to improve customer satisfaction by diagnosing problems accurately recommending solutions and delivering a first-class service is now prerequisite in the increasingly competitive ...
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Generative AI (GenAI) and other AI tools will transform retail over the next 12 months according to Retail Reimagined: Creating luxury customer experiences using data-driven insights a new report launched by Deloitte Global. With 52% of retailers intending to employ GenAI within the next 12 months for content creation in publications and reports and 25% aiming to utilise it for brand campaigns and marketing it s a growing trend among those seeking to maintain consumer loyalty particularly in the luxury sector. The research to be unveiled at this year s World Retail Congress taking place in Paris from April 16 to 18 highlights how brands are increasingly adopting personalised recommendations and targeted advertising to analyse consumer behaviour and preferences in real-time. Digitalisation surge...
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The majority of petrochemical process engineers have reported issues sourcing spare parts for temperature control equipment at petrochemical plants and refineries potentially disrupting operations subject to seasonal demand. According to a new Aggreko survey of over 600 engineers from the UK Germany France Belgium the Netherlands and Luxembourg an average of 52% of respondents cited issues sourcing spare parts for cooling heating steam and compressed air equipment. These findings gathered by independent research partner Censuswide to inform Aggreko s new whitepapers titled Process Matters identify multiple operational challenges in the sector. This includes ageing existing process and temperature control equipment in all markets questioned with solutions being five years old on average and many being even older.  ...
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Al Haramain Group a leading UAE manufacturer and retailer of fragrances has expanded its retail network to 120 stores spread over more than ten countries as its UAE-made products get exported to more than 70 countries. Al Haramain Perfumes the Group s flagship company is a pioneer in manufacturing Oudh Agarwood Bakhoor Dehnal Oudh and oriental perfumes having one of the biggest market shares in these categories. The UAE perfume market size reached 614.3 million in 2022. It is expected to reach 1.15 billion by 2028 exhibiting a growth rate (CAGR) of 11.88% during 2023-2028 according to Markets and Research. The GCC fine fragrances market size on the other hand is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.5% to 19 billion by 2032 from 12.4 billion in 2022 according to a report by Market 24X7. stro...
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The outstanding total loans and credit facilities extended to resident economic sectors by retail banks in Bahrain increased to BD11.8 billion ( 31.36 billion) at the end of 2023 an increase of 4.3% compared to the end of 2022. The Business Sector accounted for 42.6% and the Personal Sector 49.5% of the total loans and credit facilities according to key banking indicators presented by the Central Bank of Bahrain (CBB). The CBB Board of Directors held its second meeting for the year 2024 chaired by Hassan Khalifa Al Jalahma on Sunday and approved the CBB s annual report and key economic developments for the year 2023 in addition to the CBB s audited financial statements for the year 2023. Total private deposits increased to BD14.2 billion at the end of 2023 an increase of 5% compared to the end of 2022. The balance sheet of th...
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Automechanika Dubai held the biannual Automechanika Dubai Network this week gathering speakers and international experts to discuss the topic of remanufacturing in the automotive industry. Remanufacturing involves restoring used parts to like-new condition. This process saves energy and resources by reducing the need for new parts to be manufactured. Remanufacturing is a key part of the circular economy which aims to minimise waste and maximise the use of resources. Approximately 86% of a vehicle can be recycled with recyclable parts including tyres fluids lubricants and glass. Opening Automechanika Dubai Network Mahmut Gazi Bilikozen Portfolio Director at Automechanika Dubai organiser Messe Frankfurt Middle East said: Automechanika Dubai 2023 was a resounding success breaking records with exhibitors from 61 countries and trade visitors from 156 countries. As we gear up for the upcoming...
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A trio of supercars from premium British vehicle manufacturer Gordon Murray Automotive (GMA) are making their Saudi Arabian debut from March 1 to 7 at the SEVEN Concours 2024 in Riyadh. For the first time in the region GMA is showing its halo T.50 track-only T.50s Niki Lauda and its latest model the beautiful T.33 Spider. Housed in the event s VIP area the three GMA models highlight to showgoers the company s obsession with lightweight artistic engineering. Meanwhile multiple display laps by the T.50 will illustrate how design engineering performance and the 12 100 rpm V12 combine to create driving perfection. At the event Gordon Murray Group CEO Phillip Lee will be joined by famed racing driver and GMA Executive Product and Brand Director Dario Franchitti MBE to meet customers and fans of the brand. Driving perfec...
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Khalifa Economic Zones Abu Dhabi Kezad Group has announced two land lease agreements with Sam Force Trading to create vibrant retail community centres. Under the agreements Sam Force will construct and operate community retail centres on two prime locations in Kezad which will cater to the diverse needs of residents and businesses within the Kezad community. The centres in Khalifa Industrial Area (Kezad Al Ma mourah) and ICAD (Kezad Musaffah) will encompass a diverse commercial and retail offering including restaurants and cafes supermarkets and business centres enriching the community s lifestyle and core amenity availability. Seamless integration Fatima Al Hammadi Chief Commercial Officer Kezad Group said: Our agreements with Sam Force reflect our strategic vision to partner with e...
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Emaar Properties a prime real estate development company has announced that it has completed the detailed design of Dubai Square - a futuristic fusion of cutting-edge retail entertainment and technology within the ultra-modern and elegant urban project Dubai Creek Harbour. Located on the historic Dubai Creek its design features pedestrian-friendly streets and encompasses 7.4 million sq m of residential space and 500 000 sq m of gardens and open areas. Dubai Creek is an integrated project facilitating easy on-foot accessibility and is distinguished by a variety of retail stores commercial ventures entertainment and leisure destinations and top-tier facilities. The project also includes the Ras Al Khor Wildlife Sanctuary a prominent biodiversity site in the UAE. According to Emaar Dubai Square is characterized by its advanced technologies and contemporary and innova...
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Middle East Pharmaceutical Industries Company s (Avalon Pharma) initial public offering (IPO) has netted SR2.67 billion ( 712.1 million) in retail subscription indicating an oversubscription of 54.3 times. The IPO witnessed a number of 284 739 applications by primary subscribers for a number of 807 467 investors (primary subscribers and dependents). The retail subscription process comprising a maximum of 600 000 shares representing 10% of the total offering shares commenced on January 30 2024 and ended on February 1 2024. Primary subscribers will receive a minimum of (2) shares each while the remaining shares will be allocated on a pro-rata basis for the remaining demand with an average allocation factor of around 0.095% for each application from their subscribed shares. Market capitalisation /strong...
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A consortium led by sustainable technology innovator Sonichem has been granted nearly 600 000 ( 760 128) in funding from Innovate UK s Resource efficiency for materials and manufacturing (REforMM) programme. The funding will accelerate the development of the proprietary Sonichem ultrasound technology and the production of renewable cost-effective alternatives to petrochemicals commonly used in the production of plastics resins and composites within the automotive industry. The cutting-edge CARMA (carbon-neutral agroforestry-derived resins to materials for automotive applications) project will apply Sonichem s ultrasonic processing technique to automotive applications for the first time. The patented breakthrough approach converts sawdust the biomass by-product from forestry operations into high-quality lignin. This renewable material will then serve as the basis for bio-base...
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Nutanix a leader in hybrid multicloud computing has said that Enoc Group a leading global energy player has centralised its IT infrastructure on Nutanix for retail expansion and deliver slick digitally-driven customer experience. Serving thousands of customers across 60 markets Enoc employs a workforce of over 12 000 employees and deploys its world-class customer service innovations and technologies and best practices towards the UAE s social and economic development. At the core of Enoc s business are its service stations which offer not only refuelling but also top-quality retail services. Initially siloed IT infrastructure was deployed at each of these service stations to deliver the digital services needed. While in the early days this met the company s needs the lack of redundancy and centralised management contributed to significant IT overheads and risk as the company rapidly scaled i...
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Footwear and leather goods exporters have said that the Middle East and North Africa (Mena) offers a robust growth opportunity for the trade with retail spending power seen surging in the range of 6-8% CAGR across the region. Speaking at a press conference on the opening day of the region s largest footwear and leather goods show DIFLEX 2023- senior officials representing some of the global leather hubs Egypt India and Turkey - said the growth potential of Mena is amplified in the light of the data by Statista that non-food retail sales in the GCC alone is estimated to reach over 150 billion by 2026. Mena markets offer sunrise opportunities to leather producers and manufacturers with a rising population 55% under the age of 30 - offering a significant demographic dividend to both domestic and export businesses. Coupled with this is the increasing e-commerce spends and new fin...
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Dubai Taxi Company (DTC) has announced a 2% increase in the number of shares offered in the UAE Retail Offer of its initial public offering (IPO) in response to significant oversubscription of the UAE Retail Offer. Following the approval of the Securities and Exchange Authority (SCA) the UAE Retail Offer has been increased to 74 970 000 ordinary shares from 62 475 000 ordinary shares. Based on the previously announced price range of AED1.80 ( 0.49) and AED1.85 per share the size of the Retail Tranche will now be between AED135 million and AED139 million representing a total of 12% of the Offer Shares compared to 10% previously announced. The Offering size remains unchanged at 624 750 000 ordinary shares which represents 24.99% of the company s total issued share capital. Following the increased allocation to the UAE Retail Offer the Qualified Investor Tranche will be allocated 549 780 000 ordinary shar...
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Dubai Taxi Company (DTC) today (November 28) announced an increase in the number of shares offered in the UAE retail offer of its IPO owing to significant oversubscription. Following the approval of the Securities and Exchange Authority (SCA) the UAE Retail Offer has been increased from 62.4 million to 74.9 million ordinary shares. Based on the previously announced price range of AED1.8 and AED1.85 per share the size of the Retail Tranche will now be between approx. AED135 million and AED139 million representing a total of 12% of the offer shares compared to 10% previously announced. According to DTC the offering size remains unchanged at 624.7 million ordinary shares which represents 24.99% of the company s total issued share capital. Following the increased allocation to the UAE Retail ...
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Some 40 billion of retail investor capital can be mobilised towards climate investments in the UAE by 2030 says Standard Chartered s latest Sustainable Banking Report. The research based on investor interest from a survey of 1 800 respondents in 10 growth markets across Asia Africa and the Middle East identifies a global potential of 3.4 trillion for climate investing highlighting the power of individuals to combat climate change. Within climate investing in the UAE 23 billion could flow into mitigation themes energy storage energy efficiency and renewables are set to attract the most capital. 17 billion could be mobilised towards adaptation including resilient infrastructure food systems and the blue economy. 93pc interested in climate investing The survey shows 93% of ...
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Eagle Hills Diyar (EHD) the pioneering developer behind the Marassi Al Bahrain project has announced that its prime development - Marassi Galleria - will open its doors in February next year. A 114 000 sqm exclusive beachside retail destination within the Marassi Al Bahrain development it will boast 415 retailers including some of the world s most iconic brands and luxury boutiques. Marassi Galleria is the region s first beachside shopping mall concept and the only mall in Bahrain where visitors can shop dine and easily access the beach. The mall will also accommodate numerous entertainment venues completely unique to the kingdom. The mall features an entertainment area which includes the kingdom s largest indoor aquarium and underwater zoo an adventure park and a premium cinema complex inclusive of an IMAX screen. Marassi Galleria is...
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UAE-based real estate developer Imkan has announced the launch of retail and commercial leasing at its Pixel Plaza a lifestyle destination for creators and innovators in the heart of Makers District Abu Dhabi. Offering 12 000 square meters of unique retail space the plaza is located within the Pixel residential development which blends contemporary design with comfort and convenience. Strategically located Pixel Plaza is the first mixed-use residential development and the most vibrant community within Makers District on Al Reem Island. Pixel comprises seven towers and 525 residential units offering a future-forward living experience to its creative-led residents. The residential towers are strategically situated around Pixel Plaza an iconic pedestrianised square that serves as the heart of the community said the developer. ...
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Shopping is a universal pleasure a pastime that transcends borders and cultures but what if we consider that it s not merely about acquiring goods? In the grand tapestry of the global economy retail tourism is a thread that we cannot afford to overlook. In 2019 it contributed 6 per cent to the travel and tourism sector and in some nations it accounted for over 15 per cent of the sector s GDP. However both the travel and retail industries suffered severe blows during the Covid-19 pandemic. As we emerge from this challenging period we must recognize retail tourism as a powerful engine for economic recovery. The pandemic has instilled in consumers a desire for extraordinary personalised experiences. It s a mindset cultivated through resilience I endured and I deserve. This mindset can propel retail tourism to new heights yielding benefits not only for shopper...
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Shopping is a universal pleasure, a pastime that transcends borders and cultures, but what if we consider that it’s not merely about acquiring goods?
In the grand tapestry of the global economy, retail tourism is a thread that we cannot afford to overlook. In 2019, it contributed 6 per cent to the travel and tourism sector, and in some nations, it accounted for over 15 per cent of the sector’s GDP. However, both the travel and retail industries suffered severe blows during the Covid-19 pandemic. As we emerge from this challenging period, we must recognize retail tourism as a powerful engine for economic recovery.
The pandemic has instilled in consumers a desire for extraordinary, personalised experiences. It’s a mindset cultivated through resilience – ‘I endured, and I deserve.’ This mindset can propel retail tourism to new heights, yielding benefits not only for shopper...
Saudi Arabia s Public Investment Fund (PIF) and Hyundai Motor Company have announced a joint venture agreement to establish a highly automated vehicle manufacturing plant in Saudi Arabia. PIF will hold a 70% stake in the new joint venture with Hyundai holding the remaining 30%. Hyundai will also act as a strategic technology partner to support the development of the new manufacturing plant by providing technical and commercial assistance. The total investment for the project is estimated to exceed 500 million. The joint venture announced at the Saudi-Korean Business Forum aims to manufacture 50 000 vehicles per year including both internal combustion engine (ICE) and electric vehicles (EV). The plant groundbreaking is planned for 2024 and production is expected to begin in 2026. The new manufacturing plant will create thousands of jobs and allow for knowledge and expertis...
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Amazon Payment Services a regional leader in digital payments operating across the Middle East and North Africa (Mena) region has been granted a Retail Payment Services licence by the UAE Central Bank. Marking a significant milestone for the business this licence enables Amazon Payment Services to unlock an enhanced offering for its merchants across the country through unique products and services directly improving the experience for their customers. Obtaining the licence reinforces Amazon Payment Services position as a trusted payment service provider in the UAE where the company facilitates payment processing for hundreds of merchants including Small to Medium-sized Businesses (SMBs). Operational efficiency This licence enables Amazon Payment Services to invest in operational ...
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Saudi Arabia s Public Investment Fund (PIF) has launched the National Automotive and Mobility Investment Company (Tasaru Mobility Investments) an investment company focused on developing local supply chain capabilities for the automotive and mobility industry in the kingdom. Tasaru Mobility Investments will drive strategic investments and partnerships with both local and global private sector companies. It aims to support sector growth and deliver long-term returns through the localisation of manufacturing expertise and the latest cutting-edge technologies that will accelerate the development of Saudi Arabia s electric vehicle and autonomous mobility ecosystem. By boosting local capabilities the Company will support Saudi Arabia s wider efforts to become a global leader in this vital industry a statement said. The launch of Tasaru Mobility Investments is in line with PIF s strategy to expa...
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Saudi PIF-backed ADES Holding Company a leading oil and gas drilling and production services provider in the region said its 1.2 billion IPO was oversubscribed 9.8 times by retail investors with over 1.31 million participating. The retail subscription process comprising a maximum of 33 871 875 shares representing 10% of the total Offer Shares had commenced on September 26 and ended at 2pm on September 28. It witnessed participation of 1 307 676 subscribers indicating a coverage of 9.83 times with a total demand of SR4.5 billion ( 1.2 billion). Pro-rata basis Individual Subscribers will receive a minimum of 10 shares each while the remaining shares will be allocated on a pro-rata basis for the remaining demand with an average allocation factor of 6.4951%. ...
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DFS Group the world s leading luxury travel retailer has announced plans to open the first world-class seven-star luxury retail and entertainment destination DFS Yalong Bay in Sanya Hainan China by 2026. DFS is forecasting an unprecedented investment into a 128 000 sq m site attracting over 1 000 luxury brands including iconic maisons from the LVMH Group once fully operational. DFS Yalong Bay will become Sanya s premier destination for luxury shopping world-class accommodation dining and entertainment serving international and domestic tourists with innovative renowned luxury brands and experiences. DFS Yalong Bay is an incredibly exciting development for DFS and I believe for the Chinese travel industry said Benjamin Vuchot DFS Chairman and CEO in Cannes. Think the glamour and experience of Shanghai Macau Dubai and Las Vegas: now add Sanya to these dream destina...
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Qatar Tourism in collaboration with the Geneva International Motor Show (GIMS) will hold the inaugural edition of GIMS Qatar scheduled to run from October 5-14 2023 at the Doha Exhibition and Convention Centre (DECC). Spanning over 10 000 sq m the exhibition will host 31 renowned automotive brands including Toyota Lexus Porsche Volkswagen Lamborghini BMW KIA Audi McLaren Mercedes-Benz Vinfast Chery and much more. GIMS Qatar is set to showcase the latest innovations from the industry 10 world premieres and 20 regional premieres. Alongside the main exhibition GIMS Qatar 2023 will create four immersive experiences that will take place across some of the most prominent tourism destinations in the country. These include a Future Design Forum at the National Museum of Qatar thrilling offroad adventures at Sealine exhilarating ride-and-drive experiences at the Lusail International Circuit an exquisite gallery of class...
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Qatar Tourism, in collaboration with the Geneva International Motor Show (GIMS), will hold the inaugural edition of GIMS Qatar, scheduled to run from October 5-14, 2023, at the Doha Exhibition and Convention Centre (DECC).
Spanning over 10,000 sq m, the exhibition will host 31 renowned automotive brands, including Toyota, Lexus, Porsche, Volkswagen, Lamborghini, BMW, KIA, Audi, McLaren, Mercedes-Benz, Vinfast, Chery and much more.
GIMS Qatar is set to showcase the latest innovations from the industry – 10+ world premieres and 20+ regional premieres.
Alongside the main exhibition, GIMS Qatar 2023 will create four immersive experiences that will take place across some of the most prominent tourism destinations in the country. These include a "Future Design Forum" at the National Museum of Qatar, thrilling offroad adventures at Sealine, exhilarating ride-and-drive experiences at the Lusail International Circuit, an exquisite gallery of class...
Al Salam Bank has announced the launch of the second edition of its Retail Academy at the Knowledge Centre located at the bank s headquarters. The academy is designed to equip employees with the essential skills and knowledge required to deliver exceptional client service across all facets of retail banking. Over the course of five months Al Salam Bank will partner with the Bahrain Institute of Banking and Finance (BIBF) as well as Asas Training and Roaa for Training & Consulting to conduct a comprehensive series of training sessions encompassing a wide spectrum of topics pertinent to retail banking and personal skills development. Training modules These training modules cover identifying the features of banking services and products evaluating their alignment with individual client nee...
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Retail tourism is not just about shopping it s about revenue job creation and influencing travellers choices says a new report. The report Global Retail Tourism: Trends and Insights a collaborative effort between the World Travel & Tourism Council (WTTC) The Bicester Collection and Hong Kong Polytechnic University was launched at a thought leadership event exploring the significant untapped potential of retail tourism. Julia Simpson WTTC President & CEO said: In the world of Travel & Tourism retail tourism s significance cannot be overstated. Accounting for over 178 billion of global GDP in 2019 it s time to recognise its true potential. The event took place at La Roca Village part of The Bicester Collection in Barcelona on Friday concluding with a resounding call for attention to the importance of...
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Three Samsung affiliates will showcase a holistic range of automotive solutions set to redefine the landscape of connected mobility at IAA Mobility 2023 from September 5 to 10 in Munich Germany. The participants are Samsung Electronics Samsung Display Co and Samsung SDI Co who will present Samsung Electronics: Revolutionising the Road Ahead. Aligning automotive innovations from all of its semiconductor business units for the first time Samsung Electronics underscores the symbiotic potential among its diverse offerings across memory system LSI foundry and LED technologies. Unparalleled platform IAA Mobility 2023 serves as an unparalleled platform for us to demonstrate the collective strength and commitment of our individual businesses built to revolutionise the automotive industry through our expa...
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Leading UAE developer Damac Group has announced the opening of its new retail and leisure destination - Damac Mall - in Dubai. The Damac Mall presents an expansive 110 000-sq-ft space that seamlessly integrates retail hospitality leisure and entertainment offerings. It is envisioned as a hub for unique shopping experiences. Located within Damac Hills it features major international and local brands across various categories including 30 retail stores and 10 F&B outlets. With its unique retail mix across diverse categories that meet the requirements of a community mall Damac Mall expects an annual footfall of around 1.3 million visitors. In addition to the spacious interiors the mall has a large parking area capable of accommodating 360 vehicles. Damac Mall is part of our growing presence in the retail sector. It un...
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Qatar Investment Authority (QIA) has announced today (August 23) an investment of 8 278 crore ( 1 billion) into Reliance Retail Ventures Limited (RRVL) a subsidiary of Indian business conglomerate Reliance Industries Limited (Reliance Industries). QIA s investment will translate into a minority equity stake of 0.99% in RRVL on a fully-diluted basis said the company in a statement. RRVL through its subsidiaries and associates operates India s largest fastest growing and most profitable retail business with a network of over 18 500 stores and digital commerce platforms across grocery consumer electronics fashion & lifestyle and pharma. QIA pointed out that the investment in Reliance Retail was a demonstration of its diversified approach to global investment and confidence in India s fast-growing economy. ...
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Arabian Automobiles (AAC) the flagship company of the AW Rostamani Group has announced the inauguration of its cutting-edge Automotive Academy. This initiative designed to meet the evolving demands of the automotive sector and empower AAC employees comes as a proactive step to accommodate the transformative shifts sweeping through the industry. By integrating theoretical knowledge with hands-on practical training the academy aims at future-proofing the team in line with the rapid pace of the industry. The comprehensive programme addresses specialised training platforms integration of software and electro-mechanical components in vehicles as well as the latest technical skills to address the ever-evolving demand. Up-to-date digital software The Academy has the most up-to-date digital software...
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AD Ports Group a leading facilitator of global trade logistics and industry has signed multiple collaboration agreements with Shandong Port Group (SPG) to attract Chinese automotive firms to Abu Dhabi. Under the agreement SPG will transport passenger vehicles from its ports in China to Autoterminal Khalifa Port to be stored and displayed within facilities in Kezad. The deal leverages the Sister Ports agreement between Shandong Port and Khalifa Port to forge a partnership and strengthen cooperation between the two announced in December 2021. First batch of vehicles The agreements covering all aspects of the operations display and services were signed at an event at Autoterminal Khalifa Port which has already received the first batch of vehicles. The new coopera...
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Aldar Properties (Aldar) has announced an AED500 million ( 136 million) investment plan to redevelop two of its key retail portfolio assets in the UAE: Al Jimi Mall in Al Ain and Al Hamra Mall in Ras Al Khaimah. This investment will take Aldar s committed spend on redeveloping key retail assets to AED1 billion ( 272.2 million). The company has approved a redevelopment plan for Al Jimi Mall to enhance the customer journey and reinforce its position as the mall of choice for residents and visitors in Al Ain. The plan aims to increase the Gross Leasable Area (GLA) by 20 percent to 91 000 sqm and introduce new anchor retailers premium international brands and popular food concepts. The mall will remain open to customers with the project expected to be fully completed by Q1 2025. Following a successful acquisition of Al Hamra Mall in Febru...
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Batelco part of the Beyon Group has revamped all of its retail shops adding a self-service digital zone designed to elevate the customer retail experience. This step is in line with Batelco s on-going digital transformation of its customer journey in multiple touchpoints such as the website the Batelco app as well as the retail shops. Batelco s new shops enable customers to complete majority of transactions through a simple digital journey. Today Batelco customers can find advanced self-service kiosks that incorporate a wide range of functions including the ability to instantly register and activate a new Postpaid or Prepaid line and receive a new SIM card as well as subscribe to Home Fibre Broadband services with just a few easy steps. Package upgrades Customers can also complete pack...
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Retail fashion sales in Saudi Arabia are expected to surge 48% to 32 billion from 2021 to 2025 representing an annual growth rate of 13% and luxury retail posting a 19% growth according to a new report unveiled at Paris Fashion Week. This growth is expected to be fuelled by the kingdom s economic expansion and growing population with apparel accessories footwear and luxury goods poised for significant gains. Saudi Arabia s fashion industry holds the largest projected growth rates of any other large high-income market the report said. Sector opportunity A first of its kind focusing on the Saudi Fashion ecosystem The State of Fashion in the kingdom of Saudi Arabia clearly outlines the scale of the sector s opportunity. ...
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Pangaia a global innovative materials science company has collaborated with Lagardere Travel Retail and Dubai Airports as strategic partners to enter travel retail with its first outpost at Dubai International Airport (DXB). Pangaia is located in Concourse B Terminal 3 and occupies a footprint of 182 sqm. The entrance is a bespoke large digital fascia that displays a sneak peek into Pangaia s ethos and serves as a platform to introduce passengers to the brand s Earth-positive mission. Upon entering the space offers a unique immersion into nature starting from the custom-built terrarium as a central feature to the natural soundscape and the invigorating scent in the fitting rooms to emulate the experience of being immersed in a forest. Echoing the brand s purpose the Pangaia store has been mindfully designed around locally sourced finishes natural materials and energy-efficient LED lighting throughout. str...
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Pangaia, a global innovative materials science company, has collaborated with Lagardere Travel Retail and Dubai Airports as strategic partners to enter travel retail with its first outpost at Dubai International Airport (DXB).
Pangaia is located in Concourse B, Terminal 3, and occupies a footprint of 182 sqm. The entrance is a bespoke large digital fascia that displays a sneak peek into Pangaia’s ethos, and serves as a platform to introduce passengers to the brand’s Earth-positive mission.
Upon entering, the space offers a unique immersion into nature, starting from the custom-built terrarium as a central feature to the natural soundscape and the invigorating scent in the fitting rooms to emulate the experience of being immersed in a forest. Echoing the brand's purpose, the Pangaia store has been mindfully designed around locally sourced finishes, natural materials and energy-efficient LED lighting throughout.
Some 85% of automotive manufacturers expect to maintain or even increase their current workforce due to technology adoption said a study. Moreover 64% of businesses are using software to automate processes and 54% of leaders are increasing automation to address labour shortages said the State of Smart Manufacturing Report: Automotive Edition released by Rockwell Automation. Minimising costs and improving quality are the number one drivers for the acceleration of digital transformation. 31% of automotive manufacturers either plan to or have already invested in AI and machine learning technologies which is expected to continue growing as more use cases develop along with ease-of-use applications the study said. Repurposing About 42% of automotive manufacturers expe...
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The National Bank of Bahrain (NBB) has been named as the Best Retail Bank in Bahrain 2023 maintaining this position for the second consecutive year. The bank s Loyalty & Rewards application Points by NBB has won the title of Best App for Customer Experience in Mena 2023 at the Mena Banking Excellence Awards organised by MEED (Middle East Economic Digest). NBB is Bahrain s leading financial institution and the award is a recognition of the bank s highly innovative and customer centric products services and digital platforms. Digitally advanced As a digitally advanced and data-driven organisation NBB continues to deliver tailor-made products and services to meet the day-to-day banking needs of its growing customer base. Points ...
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Bahrain Islamic Bank (BisB) the leading provider of Islamic digital banking services in Bahrain has announced the appointment of Fatema AlAlawi as Chief of Retail Banking. This comes as part of the bank s efforts to recruit efficient Bahraini talents and empower Bahraini women to assume key positions with the aim of continuously establishing a professional and distinguished management team. Throughout her career AlAlawi has contributed to digital banking transformation and the Islamic banking sector in Bahrain where she has played an essential role in leading all aspects of private and retail banking including product development business marketing and branches. She delved in FinTech where she has helped launch Islamic banking platforms and Aion Digital. Proven track record Yaser Alsharifi Chief ...
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Ineos Automotive has announced it is developing its brand new electric 4X4 vehicle in conjunction with industry-leading automotive supplier Magna. Ineos Automotive s new 4X4 will represent a unique proposition for customers. Smaller than the Grenadier this all-new battery electric model will be zero emission and will deliver world-class off-road capability without compromising on-road comfort or performance. Ineos has worked with Magna previously on series engineering and development for the Grenadier station wagon and pick-up models. It is well placed to take on Ineos Automotive s third model line and has signed an agreement to start production of the new 4X4 at Magna s Graz Austria facility in 2026. Rigorous testing Part of the development process for this new 4X4 will...
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Manufacturers across a range of sectors are facing challenges including keeping pace with technology innovations digitalising operations and the supply chain and delivering on heightened expectations around speed and accuracy. A customer in Germany recently said one of the reasons they are moving away from some real-time tracking and location solutions (RTLS) and Wi-Fi standards is that they are moving toward 5G and with 5G different types of RTLS can be considered. 5G can save some organisations in the automotive industry a lot of money by reducing the amount of access points for the different technologies they are trying to deploy including RTLS machine vision robotics automation and more. This particular customer said: If I have to wire one meter of network cable it s more than one thousand dollars per meter. But with 5G I have a lot less infrast...
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The 42 billion global CPaaS (Communications Platform-as-a-Service) market will be dominated by Retail & eCommerce (28%) Banking & Finance (13%) and Travel & Tourism (10%) in the next four years says Juniper Research. The new report CPaaS: Strategies Opportunities & Market Forecasts 2023-2027 provides the most complete assessment available on the CPaaS market; identifying the key vendors market trends and strategies that will shape the industry going forward. Retail dominance Juniper Research predicts that the biggest CPaaS sector Retail will account for up to 10 billion for CPaaS vendors globally by 2027; a substantial increase of 135% over 2023 when 4.3 billion will be generated. This growth will be largely driven by the integration of new channels into CPaaS platforms. These will enable online retailers to leverage ri...
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Explora Journeys has announced that its Explora I cruise ship will offer a truly distinctive retail experience called The Journey. Inspired by the Ocean State of Mind and influenced by the destinations the ship will visit The Journey redefines the shopping experience at sea it said. More than just a place to browse and buy it is a journey of discovery consciousness and craftsmanship with provenance. These qualities are reflected in a stunning collection of more than 30 of the finest artisanal brands. What they all share is a commitment to caring for the planet and its people. Each and every item selected for The Journey is a celebration of creativity passion and the power of discovery each with its own magical story to tell. The offering will include items exclusively designed for Explora Journeys and only available onboard Explora I. &n...
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Al Ansari Financial Services said that that following the approval from the Securities and Exchange Authority (SCA) Al Ansari Holding has increased the number of shares offering in the UAE retail offer of the Group s initial public offering (IPO). The offering has been to 56 250 000 ordinary shares from 37 500 000 in response to very strong demand from retail investors and elevated oversubscription of the UAE Retail Offer. A total of 750 000 000 (seven hundred and fifty million) shares equivalent to 10% of the Group s issued share capital are on offer. Subsequently given the decision by the Selling Shareholder to increase the allotment to the Retail Investor Tranche the Qualified Investor Tranche will be allotted 693 750 000 ordinary shares instead of 712 500 000 ordinary shares. Based on the previously announced price range of AED1.00 ( 0.272) to AED1.03 per share the size of the retail tranche will now be between AE...
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Al Ansari Financial Services said that that following the approval from the Securities and Exchange Authority (SCA), Al Ansari Holding has increased the number of shares offering in the UAE retail offer of the Group’s initial public offering (IPO).
The offering has been to 56,250,000 ordinary shares from 37,500,000 in response to very strong demand from retail investors and elevated oversubscription of the UAE Retail Offer.
A total of 750,000,000 (seven hundred and fifty million) shares, equivalent to 10% of the Group’s issued share capital, are on offer. Subsequently, given the decision by the Selling Shareholder to increase the allotment to the Retail Investor Tranche, the Qualified Investor Tranche will be allotted 693,750,000 ordinary shares, instead of 712,500,000 ordinary shares.
Based on the previously announced price range of AED1.00 ($0.272) to AED1.03 per share, the size of the retail tranche will now be between AE...
Al Ansari Financial Services has announced that following the approval from the Securities and Exchange Authority (SCA) Al Ansari Holding (selling shareholder) has exercised its right to increase the number of shares offering in the UAE Retail Offer of the Group s Initial Public Offering to 56 250 000 ordinary shares from 37 500 000 ordinary shares. The company pointed out that the increase was in response to very strong demand from retail investors and elevated oversubscription of the UAE Retail Offer. A total of 750 000 000 shares equivalent to 10% of the group s issued share capital are on offer. Subsequently given the decision by the selling shareholder to increase the allotment to the Retail Investor Tranche the Qualified Investor Tranche will be allotted 693 750 000 ordinary shares instead of 712 500 000 ordinary shares. Based on the previously announced pri...
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City Walk the design-inspired destination by Merex Investment is expanding its automotive collection with five new automotive showrooms of the future. The Boulevard in City Walk covering over 330 000 sq ft will now house leading brands including Al Futtaim Automotive VIP Design Brabus Al Damani Voyah and Techart. Automotive showrooms in the UAE are set to undergo major transformations in response to the region s booming automotive market. With passenger car sales predicted to double by 2026 showrooms will have to adapt to meet the needs of an increasingly diverse consumer base. Evolving consumer trends City Walk is strengthening its automotive offering and welcoming showrooms of the future to cater to evolving consumer trends further strengthening its reputation as the go-to destination fo...
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The Sharjah Retail Group of the Sharjah Cooperative Society and the Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad) of the Sharjah Economic Development Department have signed an agreement to work together to better serve entrepreneurs business owners and SMEs in the Emirate of Sharjah reported Wam. Hamad Ali Abdullah Al Mahmoud Director of Ruwad and Abdullah Issa Al Huraimel General Manager of the Sharjah Retail Group signed the agreement in the presence of executives from both sides. Al Mahmoud emphasised the importance of inter-agency collaboration in bolstering the economic and sustainable development of Sharjah and the UAE as a whole and in enabling Emiratis to launch and grow businesses that diversify local service offerings and bolster national competitiveness. The Sharjah Retail Group offers a diverse package of incentives services and facilities to ...
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Chery China s leading automotive company was among the top 5 best-selling automotive brands in Bahrain in 2022 its sole distributor in the Kingdom Motorcity has reported. have once again set records in Bahrain its. In addition to being the leading Chinese car in the Bahrain market in 2022 Chery Motorcity Assistant General Manager Saad Alzowayed said: Chery s peak popularity both in Bahrain and in the global market is mainly owed to the launch of its new PRO series which was created to showcase the brand s undeniable technological advancements including its state-of-the-art engine and multiple tech innovations in every model. Chery has more than 11.2 million happy customers worldwide which indicates the public s trust in the brand. Chery will always endeavour to develop its technology with a spirit of innovation to constantly meet customers travel needs. Ch...
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Chery, China’s leading automotive company, was among the top 5 best-selling automotive brands in Bahrain in 2022, its sole distributor in the Kingdom, Motorcity has reported.
have once again set records in Bahrain, its. In addition to being the leading Chinese car in the Bahrain market in 2022, Chery
Motorcity Assistant General Manager Saad Alzowayed said: “Chery’s peak popularity both in Bahrain and in the global market is mainly owed to the launch of its new PRO series, which was created to showcase the brand’s undeniable technological advancements, including its state-of-the-art engine and multiple tech innovations in every model.
“Chery has more than 11.2 million happy customers worldwide which indicates the public’s trust in the brand. Chery will always endeavour to develop its technology with a spirit of innovation, to constantly meet customers’ travel needs.”
Ch...
Luxury supercar company McLaren Automotive has announced the renewal of its partnership with Gulf Oil International as its Official Lubricant and Fuel Partner for 2023. As McLaren s official engine oil supplier and following rigorous powertrain testing in 2021 the renewal of the relationship means Gulf Formula Elite will remain first fill lubricant in all McLaren Automotive supercars and hypercars leaving the McLaren Production Centre. The creation of Gulf Formula Elite was the result of both technology teams working collaboratively developing and testing a lubricant which would offer the ultimate protection for McLaren s high performance V8 and V6 engines. Gulf Formula Elite Gulf Formula Elite is an advanced full synthetic engine oil that provides the ultimate protection even in the most...
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UAE homegrown retail conglomerate Sharaf Retail significantly expands its presence in the lifestyle market across Middle East and Far East with 23 planned store launches in 2023. This is in addition to three new openings of its flagship brands - Forever 21 Cotton On and BODY at UAE s retail and leisure destination Silicon Central mall. The new stores are spread across a combined area of 23 188 sq ft of shopping space that mirrors the group s expansion strategy across the region. The newly opened Forever 21 and Cotton On stores offer fast fashion at affordable pricing and BODY presents vibrant active and lounge wear for women with a wide mix of apparel offerings for mall visitors. The launch and collection of these flagship brands from the group were unveiled through an immersive experience of three different events embodying the brand s ethos. Forever21 was showcased through a vi...
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Japanese sports brand ASICS and leading regional conglomerate Apparel Group have partnered to launch ASICS retail stores in Qatar UAE Saudi Arabia Oman and Bahrain. Signifying the brand s commitment to the region the franchise contract encompasses the rollout of 20 stores within the next five years and kick started with the official opening of ASICS store in Qatar on December 5. Located in Doha Festival City Mall the first ASICS retail concept in Qatar features 165 sq m of space showcasing running tennis padel volleyball and kids collections. Customers can find in store the new GEL-KAYANO 29 - the running shoe that is arguably ASICS most iconic model and that has now been improved even further through advanced technologies as well as NOVABLAST 3 shoe - the third generation of ASICS unique cushioning running shoe that offers a bouncing running experience and combines Japan...
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City Centre Bahrain the premier shopping entertainment and lifestyle destination in the kingdom has won three prestigious awards at the region s largest retail and shopping centre event the Retail Congress Mena 2022 said its developer Majid Al Futtaim. A leading retail and leisure pioneer across the Middle East Africa and Asia Majid Al Futtaim owns and operates 29 shopping malls (including City Centre malls) 13 hotels and four mixed-use communities. The three awards were presented for City Centre Bahrain s Bahrain National Day campaign Love for your country is the motive the Ramadan campaign Smiles for Ramadan and the Summer campaign Summer Vibes! The top honours were for City Centre Bahrain s engaging interactive and successful campaigns that brought together the local community inspired others and spr...
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Leading Emirati air charter and sightseeing helicopter tours operator Falcon Aviation Services has ordered five new Airbus H130 helicopters to upgrade its fleet. Under the terms of a deal signed at the MEBAA 2022 show Falcon Aviation Services will accept the helicopters over the next year for renewal of its fleet used intensively for Falcon Tours sightseeing helicopter flights. The COO of Falcon Aviation Services Capt. Ramandeep Oberoi said: We are very pleased to add five brand new H130s into our fleet for our helicopter sightseeing tours operations. This will further our presence in the market and help us double this business in the coming years both in Dubai and Abu Dhabi. Airbus Helicopters Head of Africa Middle East Arnaud Montalvo said: We re delighted to receive this important vote of confidence from a highly professional operator which already has long experience with our helicopters. ...
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Leading Emirati air charter and sightseeing helicopter tours operator Falcon Aviation Services has ordered five new Airbus H130 helicopters to upgrade its fleet.
Under the terms of a deal signed at the MEBAA 2022 show, Falcon Aviation Services will accept the helicopters over the next year for renewal of its fleet used intensively for Falcon Tours sightseeing helicopter flights.
The COO of Falcon Aviation Services, Capt. Ramandeep Oberoi said: "We are very pleased to add five brand new H130s into our fleet for our helicopter sightseeing tours operations. This will further our presence in the market and help us double this business in the coming years both in Dubai and Abu Dhabi.”
Airbus Helicopters Head of Africa Middle East, Arnaud Montalvo, said: “We’re delighted to receive this important vote of confidence from a highly professional operator which already has long experience with our helicopters.”
...
DHL Express a leading global express and logistics provider has marked a breakthrough in retail automation in the Courier Express & Parcel (CEP) industry with the launch of its first digital service point in the UAE. Located at the Dubai Digital Park (DDP) in Dubai Silicon Oasis (DSO) the integrated free zone technology park and member of the Dubai Integrated Economic Zones Authority (DIEZ) this fully automated service point is the first in the Middle East region and across DHL s global network. It is an unparalleled innovation in the industry that is reflective of DHL s market leading position in UAE and initiates an era of digitalizing customer experience in logistics. Launch event The launch event was hosted by DHL Express in collaboration with Dubai Silicon Oasis (DSO) at DSO s owned DDP Dubai s first in...
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Americana Restaurants International has announced that it has increased the UAE Retail Offer for its initial public offering (IPO) from 5% to 10% of the total offering so that it becomes equal to the size of the KSA Retail Offer. The KSA Retail Offer remains unchanged at 10% of the total offering however the institutional offer has got reduced from 85% to 80% of the total offering. The adjustment to the offering structure has been made after obtaining the necessary regulatory approvals from the Securities & Commodities Authority (SCA) in the UAE and Capital Market Authority (CMA) in Saudi Arabia. The subscription periods will remain unchanged and will continue until November 21 for individuals and other investors in the UAE and Saudi Arabia (the UAE retail offer and the KSA retail offer); and until November 22 for the offering to qualified institutional investors in a n...
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McLaren Automotive the British creator of luxury high-performance supercars has announced the start of regional deliveries of its high-performance hybrid supercar the McLaren Artura in the Middle East and Africa region. Celebrating the start of deliveries of the McLaren Artura was held at the Bahrain International Circuit and provided the VIP guests with an opportunity to test drive the first series high-performance hybrid supercar from McLaren Automotive. Mohamed Fawzi Market Director Middle East and Africa McLaren Automotive said; We are thrilled to start the regional deliveries of the all-new McLaren Artura a car that will spearhead McLaren into the new era of supercar technology and performance. The Artura has been very well received by the customers and enthusiasts in the Middle East and Africa region and we are excited for them to experience the breath-taking performance and dynamic ...
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The 10th edition of Automotive PR Awards has recognised Amr Al-Dabbagh Chairman of Petromin Corporation as the Automotive Man of the Year . The awards were conducted via a public voting system and are based on recommendations from industry experts and media professionals. The award is a recognition of efforts by Petromin Corporation that has accrued a number of achievements over the past year. Best possible services Al-Dabbagh commented: I am happy to receive this award on behalf of all of my colleagues at Petromin who have worked hard to provide the best possible services while adhering to the highest standards for our customers. Al-Dabbagh also thanked customers referring to them as Petromin s success partners saying: The...
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Rethinking its priorities to address its use of resources for a Net Positive impact has been the core focus of City Centre Bahrain s sustainability plans. Majid Al Futtaim s City Centre Bahrain the premier shopping entertainment and lifestyle destination in the kingdom thus continues to demonstrate its increased efforts to build on its net positive carbon and water targets. Investing in best sustainable practices since the start of its operations in 2008 City Centre Bahrain has been working towards significantly reducing the company s water consumption and carbon emissions to put more back into the environment than it takes out. This is in line with the kingdom s commitment to cut emissions by 30% by 2035. Net Positive The Mall s sustainability initiatives are part of Ma...
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UAE-based Azizi Developments has announced that it has sold all the retail units within the first and second phase of its mega-project Riviera in Dubai. The freehold units which are among Azizi s finest most ideally located and ROI-inclined retail spaces are easily accessible to both residents and the public and represent a perfect opportunity for new business owners said the developer in a statement. According to Azizi the units within the third and fourth phases of the French Mediterranean-inspired waterfront community in MBR City will be released soon. CEO Farhad Azizi said: We are pleased to announce the sales success we re having with our high-in-demand retail units in Riviera as well as those in our other communities across Dubai s landmark locations. It fills us with pride to see our proj...
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Dubai Festivals and Retail Establishment (DFRE) has unveiled a line-up of citywide events with the announcement of the brand new 2023 Retail Calendar. The 2023 Retail Calendar is packed with a total of 18 events designed to make Dubai one of the best places in the world to live work and visit. The line-up includes the return of the iconic Dubai Shopping Festival Dubai Fashion Season Spring/Summer and Fall/Winter Collections Ramadan and Eid in Dubai Dubai Food Festival Dubai Summer Surprises and more. Dubai Fitness Challenge which has just launched its 6th annual edition will also return for a 7th edition in 2023. The announcement of DFRE s annual Retail Calendar sets the scene for the city s ever-evolving mix of experiences and events taking place at world-class malls attractions and destinations all over Dubai in 2023. Ahmed Al Khaja CEO Dubai Festivals and Retail Establishment (DFRE) said: &l...
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Dubai Festivals and Retail Establishment (DFRE) has unveiled a line-up of citywide events with the announcement of the brand new 2023 Retail Calendar.
The 2023 Retail Calendar is packed with a total of 18 events designed to make Dubai one of the best places in the world to live, work and visit. The line-up includes the return of the iconic Dubai Shopping Festival, Dubai Fashion Season Spring/Summer and Fall/Winter Collections, Ramadan and Eid in Dubai, Dubai Food Festival, Dubai Summer Surprises and more. Dubai Fitness Challenge, which has just launched its 6th annual edition, will also return for a 7th edition in 2023.
The announcement of DFRE’s annual Retail Calendar sets the scene for the city’s ever-evolving mix of experiences and events taking place at world-class malls, attractions and destinations all over Dubai in 2023.
Ahmed Al Khaja, CEO, Dubai Festivals and Retail Establishment (DFRE), said: &l...
Saudi Central Bank (SAMA) is seeking public opinion on Draft Standard Retail Consumer Finance Contract being implemented as part of its ongoing efforts to boost the finance sector. To achieve transparency and public participation SAMA has invited the public stakeholders and specialists to submit their feedback and comments on the draft through the Public Consultation Platform of the National Competitiveness Center within 15 days reported SPA. This step comes as part of SAMA s ongoing efforts to advance the finance sector ensure its transactions fairness and protect financial institutions customers. The kingdom s central bank indicated that this Standard Contract was for consumer finance products and aims to reduce differences and disparities in consumer finance contracts among financiers that engage in consumer finance activity by stating...
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Al-Futtaim Automotive group will demonstrate the strength of its diverse automotive portfolio as well as its wide range of green mobility solutions at the Abu Dhabi Air Expo running from November 1 to 3 Al Bateen Executive Airport. Al-Futtaim Automotive represents many of the world s most recognized brands many of which will be present at their vast open and elegantly designed stand at the show. On display will be the next-generation Volvo XC90 Toyota Land Cruiser and Lexus LX & LC alongside the new global sensations in future mobility such as the Polestar 2 Volvo C40 and the groundbreaking all-electric bus - Volvo 7900. Also explore the industry favourites from Al-Futtaim such as the TMH Electric Forklift Towing Tractors and Hertz electric shuttle cars. Earlier this year Al-Futtaim Automotive announced a partnership with Polestar the pure progressive performance luxury EV brand committed to sust...
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Al-Futtaim Automotive group will demonstrate the strength of its diverse automotive portfolio, as well as its wide range of green mobility solutions at the Abu Dhabi Air Expo running from November 1 to 3 Al Bateen Executive Airport.
Al-Futtaim Automotive represents many of the world’s most recognized brands, many of which will be present at their vast, open and elegantly designed stand at the show.
On display will be the next-generation Volvo XC90, Toyota Land Cruiser and Lexus LX & LC alongside the new global sensations in future mobility such as the Polestar 2, Volvo C40 and the groundbreaking all-electric bus - Volvo 7900. Also, explore the industry favourites from Al-Futtaim, such as the TMH Electric Forklift, Towing Tractors and Hertz electric shuttle cars.
Earlier this year, Al-Futtaim Automotive announced a partnership with Polestar, the pure, progressive, performance luxury EV brand committed to sust...
General Motors (GM) and Al Mansour Automotive Group two of the leading automotive companies in Egypt will be Exclusive Mobility Principal Partners for the 2022 United Nations Climate Change Conference COP27. For this they signed a Memorandum of Understanding (MoU) with the Egyptian Ministry of Foreign Affairs. The event will be held in Sharm El-Sheikh from the November 6 to 18 2022. GM and Al Mansour Automotive will be providing 150 electric vehicles highlighting the breadth of GM s global EV portfolio. The vehicles will facilitate the transport of VIPs dignitaries and participants of the conference as a way to help reduce tailpipe carbon emissions in Sharm El-Sheikh during COP27. The signing ceremony The MoU was signed by Ashraf Ibrahim Assistant Minister of Foreign Affairs and the Gen...
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Retail investors in the UAE can mobilise more than AED367 billion ( 100 billion) towards top Environmental Social and Governance (ESG) priorities particularly the financing of climate transition to net zero says a report. Launching its Sustainable Banking Report 2022 titled Mobilising retail investor capital Standard Chartered explores ESG investment opportunities. This capital could also play a critical part in bridging funding gaps in the UAE s other ESG priorities including food and water security as well as pollution and waste management. The new research by Standard Chartered also identified over AED30 trillion of investable retail wealth that could be channelled into sustainable investments by 2030 to finance ESG objectives in 10 growth markets. The report also highlights investment barriers currently faced by investors and recommends solutions to expand sustainable investing (SI) int...
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Dubai-based luxury property developer Damac has announced that steady progress is being made on its first community retail project Ventura Mall with around 40% of the work fully completed. Located in Damac Hills a mega project of the Emirati developer located on Umm Suqeim Road and Hessa Street and home to a flourishing community of nearly 10 000 residents the Ventura Mall is expected to be completed in 2023. Giving a project update Damac said the structure works have been fully completed while blockwork is substantially finished. Lobby MEP works and external façade works are currently in progress. Once complete the mall will boast 36 retail stores which includes 10 F&B outlets and a supermarket. This supermarket will be the second Spinneys in the Damac Hills community and will be much bigger in size at 28 600 sq ft. ...
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Qatar Duty Free a fully owned subsidiary of Fifa Partner Qatar Airways has been named as Official Retail Store for the Fifa World Cup Qatar 2022. This includes a license to exclusively sell all Fifa World Cup Qatar 2022 merchandise in the fan zones and at all eight spectacular stadiums hosting the matches in Qatar. The award-winning retailer has already worked closely with Fifa at the Doha Exhibition and Convention Centre on 1 April where VIP attendees and distinguished guests were able to purchase the Adidas Official Match Ball for the very first time after its reveal at the Final Draw. Qatar Duty Free Vice President Thabet Musleh said: The excitement is building day by day and Qatar Duty Free is thrilled to have been selected as the Official Retail Store for the Fifa World Cup Qatar 2022. This enables international fans to pick up their tournament souvenirs once they arrive in the country allowing fans to enjoy the World ...
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Qatar Duty Free, a fully owned subsidiary of Fifa Partner Qatar Airways, has been named as Official Retail Store for the Fifa World Cup Qatar 2022.
This includes a license to exclusively sell all Fifa World Cup Qatar 2022 merchandise in the fan zones and at all eight spectacular stadiums hosting the matches in Qatar.
The award-winning retailer has already worked closely with Fifa at the Doha Exhibition and Convention Centre on 1 April, where VIP attendees and distinguished guests were able to purchase the Adidas Official Match Ball for the very first time after its reveal at the Final Draw.
Qatar Duty Free Vice President, Thabet Musleh, said: “The excitement is building day by day and Qatar Duty Free is thrilled to have been selected as the Official Retail Store for the Fifa World Cup Qatar 2022. This enables international fans to pick up their tournament souvenirs once they arrive in the country, allowing fans to enjoy the World ...
Al Rostamani Travels and Holidays (ART) a leading travel provider in the UAE has appointed Rajesh Khare as Head of Business Development in its Retail & Leisure department. Rajesh comes with a rich experience of 17 years in the Tourism industry and has extensive knowledge in e-commerce partnerships leisure hotels airlines and marketing. He has worked with leading brands such as Make My Trip Cox and Kings UAE Exchange (Travza) & others. Rajesh holds a Masters in Tourism and has acquired certifications from various Tourism Boards such as Thailand Ireland Austria Switzerland and Britain to name a few and he loves to explore new destinations in his spare time. Rajesh s main area of focus will be to grow ART s Retail Leisure and B2B business with primary objective of driving technology & social media platforms for customer acquisition and distribution network growth in the B2C & B2B channels. ...
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Al Rostamani Travels and Holidays (ART), a leading travel provider in the UAE, has appointed Rajesh Khare as Head of Business Development in its Retail & Leisure department.
Rajesh comes with a rich experience of 17 years in the Tourism industry and has extensive knowledge in e-commerce, partnerships, leisure, hotels, airlines and marketing. He has worked with leading brands such as Make My Trip, Cox and Kings, UAE Exchange (Travza) & others.
Rajesh holds a Masters in Tourism and has acquired certifications from various Tourism Boards, such as Thailand, Ireland, Austria, Switzerland and Britain to name a few and he loves to explore new destinations in his spare time.
Rajesh’s main area of focus will be to grow ART’s Retail Leisure and B2B business, with primary objective of driving technology & social media platforms, for customer acquisition and distribution network growth in the B2C & B2B channels. –<...
Line Investments & Property the shopping mall and management arm of Abu Dhabi-based Lulu Group International has announced that it has signed retail leasing deals to add a wide range of entertainment options at Silicon Central a new two-level retail and leisure destination within Dubai Silicon Oasis. With a total of 81 500 sqm GLA and 3 500 car park spaces Silicon Central will offer a broad mix of brands tailored to ensure shoppers complete satisfaction. Adding to the unique shopping experience a diverse range of dining options will comprise of 24 casual restaurants and cafes as well as 21 food court units making it the perfect place to catch up with friends and families in an enjoyable atmosphere or to enjoy a quick snack on the run stated Line Investments & Property. Announcing a host of strategically curated new brands coming on board Silicon Cent...
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Sabic a global leader in the chemical industry has introduced new short-glass fiber-filled pp compounds with enhanced performance for automotive structural applications. Sabic PP compound G3430X and Sabic PP compound G3440X grades the two new short-glass fiber-reinforced polypropylene (PP) compounds offer enhanced performance and processing for demanding automotive under-hood exterior and interior applications. The two advanced grades surpass high-performing standard short-glass fiber materials in melt flow tensile and flexural strength and flexural modulus. Sabic PP compound G3430X and G3440X grades give customers new opportunities to raise the performance bar for automotive structural components such as brackets seat structures and centre consoles. Furthermore thanks to their thin-wall capability both materials can be used to design parts with lower mass and weight. Sabic s world-class development capabilities an...
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Sabic, a global leader in the chemical industry, has introduced new short-glass fiber-filled pp compounds with enhanced performance for automotive structural applications.
Sabic PP compound G3430X and Sabic PP compound G3440X grades, the two new short-glass fiber-reinforced polypropylene (PP) compounds offer enhanced performance and processing for demanding automotive under-hood, exterior and interior applications.
The two advanced grades surpass high-performing standard short-glass fiber materials in melt flow, tensile and flexural strength, and flexural modulus. Sabic PP compound G3430X and G3440X grades give customers new opportunities to raise the performance bar for automotive structural components such as brackets, seat structures and centre consoles. Furthermore, thanks to their thin-wall capability, both materials can be used to design parts with lower mass and weight.
“Sabic’s world-class development capabilities an...
The Saudi British Bank (SABB) has appointed Bandar Al-Gheshayan as Chief Retail Banking and Wealth Management Officer to lead the bank s strategy in areas including Branch Network Private Banking Digital Banking and Payments. Al-Gheshayan has over 22 years of experience 16 of which he spent in the Saudi banking sector. He joined SABB in 2012 and has held several leadership roles the most recent being Chief Operating Officer for Retail Banking and Wealth Management since 2018. Prior to that he was the Regional Head of Retail Banking and Wealth Management from July 2016 to June 2018. The appointment of Bandar is one of the testaments to the success of career development plans we have at SABB which is considered a major player in managing our most valuable asset our people. said Tony Cripps Managing Director & CEO of SABB. span style= f...
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Driven by its ambitious growth strategy Abdulmohsen Abdulaziz Al Babtain Company (AABC) the authorised dealer of Nissan vehicles in Kuwait has unveiled its new Genuine Spare Parts outlet. Located in Shuwaikh Industrial area the new Nissan outlet offers a suite of Nissan Genuine Parts and Accessories including spare parts oil filter brake pads timing belts spark plugs and air filters which provide Nissan vehicles with long-term reliability safety and quality. To better serve its customer base in Kuwait through comprehensive service solutions the new outlet joins the AABC network of Nissan Service Centers and Genuine Spare Parts Outlets across Kuwait offering a seamless aftersales experience including customer access to genuine parts. The inauguration ceremony of the new branch was attended by key executives from Abdulmohsen Abdulaziz Al Babtain Company (AABC...
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UAE-based developer Arada has opened the first retail cluster East Boulevard at its fast-growing Aljada community welcoming a range of global brands and local favourites to Sharjah for the first time. The 75 000-sq-ft space represents the first section of East Boulevard to be opened. One of two main avenues located within the megaproject East Boulevard stretches for 2.2km offering a range of retail dining and services options along a wide walkable tree-lined street. According to Arada the newly-opened section of East Boulevard is located on the ground floor of the four premium Misk buildings and is anchored by a Spinneys supermarket its fourth store in Sharjah as well as an outlet from the worldwide coffee house company Starbucks. Among the international brands making their Sharjah debut in East Boulevard are: Five Guys the well-known US burger house; Tu...
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The National Bank of Bahrain (NBB) has been honoured with the Best Retail Bank Award at the Mena Banking Excellence Awards 2022 instituted by MEED (Middle East Economic Digest). The accolade recognises NBB s commitment to providing best-in-class products and services to its customers in line with its brand promise of being Closer to You. With its history and leading position in the banking sector NBB received this prestigious award in recognition of its achievements in the Retail Banking sector. The bank was acknowledged for its continuous efforts in providing tailored products and services to meet the needs of its customers as part of a diverse line-up of digital banking services. NBB honours its commitment toward integrating ESG initiatives through its offerings. The bank continues to offer eco-friendly and sustainable financing plans by partnering with a range of organisations in the ...
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Sweden s steel major SSAB has entered an agreement with US-based Shape Corp a tier-one automotive supplier of lightweight body structures to deliver fossil-free steel crash management and body structure systems to market. Shape will be testing SSAB s fossil-free steel the first steel product made of hydrogen-reduced sponge iron utilising HYBRIT technology for use in automotive applications. We are excited to welcome Shape as our first partner for fossil-free steel in the US and look forward to jointly explore ways to mitigate climate change says Martin Lindqvist President and CEO at SSAB. Demand for fossil-free steel is increasing which is one of the reasons for SSAB to bring forward its green transition with the ambition to largely eliminate carbon dioxide emissions around 2030. Leading the indust...
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Arabian Centres the largest owner developer and operator of contemporary lifestyle centres in Saudi Arabia has announced that work is moving at a steady pace on its key retail destinations - Jawharat Al Riyadh and Jawharat Jeddah - in the kingdom. While the Riyadh project is due for launch in the first half of 2025 the Jeddah facility is set to be operational in 2024. Arabian Centres said in bid to launch its next-generation retail experience it brought to life two new locations - Jawharat Al-Riyadh and Jawharat Jeddah - collectively bringing more than 235 6000 sq m of GLA. Work on the Riyadh mall began in August last year and is currently approaching 15% completion. Strategically located near several key capital city landmarks including the Diplomatic Quarter and Diriyah Gate the mall is being built at a total investment of nearly SR1.8 billion. /div...
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Boursa Kuwait on June 7 saw the listing of Alghanim & Sons Automotive Company marking a milestone as the first family-owned automotive firm to be listed on an exchange across the Gulf markets. The company stated that the public offering which took place a few days earlier was oversubscribed about 11 times mirroring investors trust reflecting the high demand during the subscription process on 45% of the company s shares. The company also stated that the official listing on the Kuwait bourse stems from its sense of responsibility as a leading company in the region in general and in Kuwait specifically which aims to adopt the principles of transparency and governance. It also seeks to expand its scope of work which will contribute to creating unique employment opportunities for youth while deploying the company s considerable capabilities and exceptional cadres that represe...
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Goodyear Swaidan Trading Co and Tires.ae have launched a brand-new tyre and services outlet in Mussafah Abu Dhabi. The facility marks the expansion of operations in the UAE for the global tyre manufacturer and reinforces the commitment of Goodyear and its partners to offer quality mobility products and services to drivers across the UAE. The new distribution centre will provide a comprehensive choice of passenger car tyres and a full suite of services including fitting inspection replacement and wheel balancing to serve the UAE s goal of enabling safer driving on the roads. Best-in-class mobility Goodyear grows in our commitment to deliver best-in-class mobility technology and driving experience for all UAE drivers said Khaled Arafa General Manager Goodyear Middle East &...
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Japan s NSK Ltd and Germany s thyssenkrupp AG have signed a memorandum of understanding (MoU) to explore a potential joint venture between NSK Steering and thyssenkrupp Automotive. Both companies will now enter an assessment phase before taking a decision on any future collaboration before the end of 2022. The steering businesses of both companies are highly complementary and synergetic with regard to product competencies geographic footprints and customer groups. Combined capabilities NSK expects the combined capabilities will enable the joint venture to meet the broad and highly technological needs of global automotive customers. It will also allow the combined entity to compete more effectively in the global steering industry. Saimon Nogami Executive Seni...
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Airports Council International (ACI) World has launched a White Paper on airport retail to help airports adjust their commercial business strategies to reflect the evolution of the sector and support long-term sustained recovery. The Regulatory Threats and Opportunities in Airport Retail White Paper is the newest addition to the ACI Airports Non-Aeronautical Revenues and Activities (Anara) guidance series launched earlier this year. The White Paper describes some of the major legislative and regulatory threats and opportunities to airport retail and duty-free to help airport operators travel retail operators and policymakers work together to stimulate an increase in sales investment and sustainable job creation. ACI World Director General Luis Felipe de Oliveira said: As Covid-19 travel restrictions ease and passenger demand returns governments and policymakers across the world have an opportunity to leverage airports...
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Airports Council International (ACI) World has launched a White Paper on airport retail to help airports adjust their commercial business strategies to reflect the evolution of the sector and support long-term sustained recovery.
The Regulatory Threats and Opportunities in Airport Retail White Paper is the newest addition to the ACI Airports’ Non-Aeronautical Revenues and Activities (Anara) guidance series launched earlier this year.
The White Paper describes some of the major legislative and regulatory threats and opportunities to airport retail and duty-free to help airport operators, travel retail operators, and policymakers work together to stimulate an increase in sales, investment, and sustainable job creation.
ACI World Director General Luis Felipe de Oliveira said: “As Covid-19 travel restrictions ease and passenger demand returns, governments and policymakers across the world have an opportunity to leverage airports...
Oman-based Al Taher Group has announced that steady progress is being made on the four-phase makeover plan at its premier retail and leisure destination in the sultanate - Oman Avenues Mall. The redevelopment project comprises large-scale infrastructure enhancements including the introduction of a dedicated flyover extension to the development as well as bridges and the expansion of adjacent roads that will connect the property to major population-centric areas said the project developer. Al Taher Group has announced that the upgrade of the road behind the mall to a four-lane road will be completed in the next few days whilst work is in full swing on the two bridges connecting the feeder road to either side of Sultan Qaboos Street. The extension of the flyover connection to the mall is expected to be completed in the later part of the year however the new st...
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British luxury supercar and hypercar maker McLaren Automotive has announced the appointment of Michael Leiters as its new Chief Executive Officer from July 1 2022. German-born Leiters 50 holds a doctorate in engineering and has held senior positions at Porsche AG and more recently was Chief Technology Officer at Ferrari. Leiters will be based at McLaren s global-headquarters at the McLaren Technology Centre and the adjoining McLaren Production Centre in Surrey England where all the company s supercars and hypercars are hand-built. 3 000-strong workforce Leiters will lead the 3 000-strong workforce spanning all global activities including the McLaren Composites Technology Centre instrumental in innovating technology for the company s ground-breaking high-performance hybrid series produ...
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Saudi-based Umm Al Qura Development and Construction Company said it has signed a strategic partnership agreement with Kaden Investment Company for the development of a distinct cultural shopping and entertainment destination within its Masar Destination in Makkah. Located on a 1.25 million sq m area in Makkah the Masar Destination boasts a 3 650-m-long boulevard as a natural extension of the mosque in addition to green spaces and many integrated cultural and social facilities. Work on Masar Front along the 3.6-km-long Masar Destination will begin soon said the statement from the developer. Once completed the Masar Front will offer visitors a wide range of experiences over the entire area of the pedestrian walkway which is more than 158 000 sq m area. This comes after a long-standing success of Kaden Investment Company in the de...
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Formula E and stichd a wholly-owned subsidiary of the Puma SE Group said that the specialist brand partner has been appointed to produce high quality sustainable merchandise retailing via a new global e-commerce platform. The product range will also be available at physical retail outlets at all remaining ABB FIA Formula E World Championship races this season starting with the Rome E-Prix taking place on April 9 and 10. The new long-term partnership will see stichd fulfil a new integrated global merchandising brief including: Designing and developing a range of Formula E merchandise including apparel accessories and fan items Buying and producing products for Formula E teams Developing and operating Formula E s global e-commerce offering Providing retail services in the Allianz E-Village at ABB FIA Formula ...
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Formula E and stichd, a wholly-owned subsidiary of the Puma SE Group, said that the specialist brand partner has been appointed to produce high quality sustainable merchandise retailing via a new global e-commerce platform.
The product range will also be available at physical retail outlets at all remaining ABB FIA Formula E World Championship races this season, starting with the Rome E-Prix taking place on April 9 and 10.
The new long-term partnership will see stichd fulfil a new integrated global merchandising brief including:
• Designing and developing a range of Formula E merchandise including apparel, accessories, and fan items
• Buying and producing products for Formula E teams
• Developing and operating Formula E’s global e-commerce offering
• Providing retail services in the Allianz E-Village at ABB FIA Formula ...
wasl properties one of the largest real estate development and management companies in Dubai has announced the launch of its latest master development wasl village a residential and retail oasis in Al Qusais with easy access to Sheikh Mohammed Bin Zayed Road. A gated community the project boasts 62 buildings featuring a total of 6 200 housing units ranging from studios one- two- and three-bedroom apartments. It also includes a community centre hosting a number of retail units F&B outlets a supermarket a clinic a gym and a swimming pool. The other key amenities include a 1 700-jogging track around the project with a tennis football cricket and basketball courts a BBQ area lush green landscaping parks a mosque and an outdoor play area for kids as well as fitness equipments for adults said the stateme...
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GMG a global well-being company retailing distributing and manufacturing a portfolio of leading international and home-grown brands across sport food and health sectors has announced its foray into the food retail business with the acquisition of the UAE operations of the French retailing major Géant and exclusive rights to expand Géant operations in the Middle East. A company owned by the Baker family GMG is today a leading group affiliated with the world s most successful and respected brands in the well-being sector. Working across the Middle East North Africa and Asia GMG has introduced more than 120 brands into its markets. Géant is a part of Groupe Casino a French retailing giant with a turnover in excess of EUR35 billion. Under a strategic pact with Urban Foods by Dubai Holding GMG has acquired Géant s current UAE...
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Dubai Future Foundation (DFF) has launched a new initiative to support tech startups to participate in a special challenge to utilise latest technologies to develop a quality and innovative experience for luxury brand customers. The challenge is part of the Future of Luxury Retail startup incubation program organized by Dubai Future Accelerators an initiative by DFF in collaboration with Richemont Middle East India & Africa and provides the opportunity for global entrepreneurs and startups to showcase their ideas and innovative solutions to advance the retail sector. The innovative solutions will be developed as part of the Future of Luxury Retail challenge by participating startups at Area 2071 the innovation ecosystem in Dubai. The challenge aims to redesign the luxury customer experience and help Richemont utilize modern technologies to analyse data study customers behaviours and engagement and enhance the co...
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Dubai Future Foundation (DFF) has launched a new initiative to support tech startups to participate in a special challenge to utilise latest technologies to develop a quality and innovative experience for luxury brand customers.
The challenge is part of the Future of Luxury Retail startup incubation program, organized by Dubai Future Accelerators, an initiative by DFF, in collaboration with Richemont Middle East, India & Africa and provides the opportunity for global entrepreneurs and startups to showcase their ideas and innovative solutions to advance the retail sector.
The innovative solutions will be developed as part of the Future of Luxury Retail challenge by participating startups at Area 2071 – the innovation ecosystem in Dubai.
The challenge aims to redesign the luxury customer experience and help Richemont utilize modern technologies to analyse data, study customers’ behaviours and engagement, and enhance the co...
Dubai Electricity and Water Authority (Dewa) has announced that it has increased the number of shares offered in the First Tranche (Retail) of its initial public offering from 260 million to 760 million shares following significant demand and oversubscription from retail investors. After receiving approval from the UAE Securities and Commodities Authority (SCA) the Dubai government as the selling shareholder took the decision to increase the size of the Retail Tranche from 260 million shares to 760 million shares. This means that the number of shares offered in the IPO has increased from 8.5 billion ordinary shares to 9 billion ordinary shares which would result in a free float of 18% of the utility s share capital with the Dubai government continuing to own 82% of Dewa s share capital. Dewa was created in 1992 following the merger of the Dubai Electricity Compan...
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Physical retail environments are simplifying in-person transactions and enabled by mobile digital tools they are offering more bespoke localised and service-based experiences stated CallisonRTKL (CRTKL) a global cultural agency specialising in architecture planning and design in its recent report identifying the key trends for the technological evolution in retail sector. Going forward retailers will leverage data to drive customer personalisation and look at past purchases or preferences to target future purchases it stated. Paul Firth Associate Principal at CRTKL said: Technology is accelerating change in retail with personalised shopping giving customers an authentic and convenient experience. The pandemic demonstrated the demand for digital shopping and retailers who harness the power of technology to enhance service-based experiences ...
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Nahdi Medical Company a leading retail pharmacy chain and fast-growing omnihealth platform in Saudi Arabia has announced the completion of the final allotment of shares in relation to the initial public offering (IPO). Following the completion of the institutional book-building process the individual investors offering took place from March 13 to 15. The retail offering saw 1 099 863 retail investors subscribing to invest SR6.76 billion ( 1.8 billion) at the IPO price of SR131 per share indicating coverage amounting to 13x for the retail tranche. The number of shares that were allocated to the individual investors tranche was 3 900 000 shares representing 10% of the total offering. The retail offering followed the completion of the institutional book-building process which was oversubscribed 59 times. The company allocated a minimum of 3 shares to each retail subscriber included in the subscription request. The remaining sha...
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Nahdi Medical Company, a leading retail pharmacy chain and fast-growing omnihealth platform in Saudi Arabia has announced the completion of the final allotment of shares in relation to the initial public offering (IPO).
Following the completion of the institutional book-building process, the individual investors offering took place from March 13 to 15. The retail offering saw 1,099,863 retail investors subscribing to invest SR6.76 billion ($1.8 billion) at the IPO price of SR131 per share, indicating coverage amounting to 13x for the retail tranche.
The number of shares that were allocated to the individual investors’ tranche was 3,900,000 shares, representing 10% of the total offering. The retail offering followed the completion of the institutional book-building process, which was oversubscribed 59 times.
The company allocated a minimum of 3 shares to each retail subscriber included in the subscription request. The remaining sha...
DP World s leading trade and logistics hub Jebel Ali Free Zone (Jafza) which plays a significant role in driving the growth of the UAE s retail sector through its advanced warehousing and distribution solutions is showcasing its multidimensional retail matrix model worth nearly AED40 billion ( 10.9 billion) at The Retail Summit 2022 being held in Dubai UAE. The aim is to displays the free zone s innovative services and facilities that position Dubai and the UAE as one of the leading retail hubs across the globe DP World said in a statement. Home to over 1 260 companies from 92 countries Jafza has over the years cemented its position as the leading global hub for trade and logistics by catalysing the advancement of the UAE s retail trading and e-commerce sector through its unmatched facilities. The Free Zone has over 1.89 million sq m of combined facilities 51 700 sq m warehouse space and over 1.8 million sq m of dedica...
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DP World’s leading trade and logistics hub Jebel Ali Free Zone (Jafza), which plays a significant role in driving the growth of the UAE’s retail sector through its advanced warehousing and distribution solutions, is showcasing its "multidimensional retail matrix" model worth nearly AED40 billion ($10.9 billion) at The Retail Summit 2022 being held in Dubai, UAE.
The aim is to displays the free zone’s innovative services and facilities that position Dubai and the UAE as one of the leading retail hubs across the globe, DP World said in a statement.
Home to over 1,260 companies from 92 countries, Jafza has over the years cemented its position as the leading global hub for trade and logistics by catalysing the advancement of the UAE’s retail, trading, and e-commerce sector through its unmatched facilities. The Free Zone has over 1.89 million sq m of combined facilities, 51,700 sq m warehouse space, and over 1.8 million sq m of dedica...
dnata one of the world s largest air and travel services providers has been appointed to manage easyJet s inflight retail services across the airline s extensive network. The partnership will see dnata deliver a tailor-made on-board retail programme and innovative solutions for the airline supporting it to further enhance its retail range onboard and customer satisfaction. The agreement will see dnata provide easyJet with a comprehensive suite of services covering retail strategy; product development and selection across food beverage and duty-free; procurement; marketing; cabin crew engagement and financial management. dnata will work closely with easyJet and leading technology providers to deliver a modern technology-led programme with the airline s customers front and centre. dnata has also been appointed to provide end-to-end logistics and last-mile services to easyJet across the UK and Italy covering ...
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dnata, one of the world’s largest air and travel services providers, has been appointed to manage easyJet’s inflight retail services across the airline’s extensive network.
The partnership will see dnata deliver a tailor-made on-board retail programme and innovative solutions for the airline, supporting it to further enhance its retail range onboard and customer satisfaction.
The agreement will see dnata provide easyJet with a comprehensive suite of services covering retail strategy; product development and selection across food, beverage and duty-free; procurement; marketing; cabin crew engagement and financial management. dnata will work closely with easyJet and leading technology providers to deliver a modern, technology-led programme, with the airline’s customers front and centre.
dnata has also been appointed to provide end-to-end logistics and last-mile services to easyJet across the UK and Italy, covering ...
AkzoNobel a global pioneer in paints and coatings is expanding its presence in Qatar following recent successes in securing large scale projects. The move builds on AkzoNobel s growing presence in Qatar having recently acquired full ownership over AkzoNobel Qatar and following its announcement of a new global innovation and development centre for its Marine Coatings business. As the global leader in the industry and most sustainable paints company AkzoNobel has successfully supplied its Dulux professional paint to the Hamad International Airport Passenger Terminal Complex and many other landmarks across the country. AkzoNobel is now expanding into the retail market by launching Sadolin Dulux its premium range of decorative products in order to bring its brand closer to its retail consumers in Qatar. Sadolin Dulux w...
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Enoc Group the Official Integrated Energy Partner of Expo 2020 Dubai is on track to increase its UAE retail footprint from 162 fully operational service stations at the end of 2021 to 186 service stations in 2022. Enoc concluded 2021 with the opening of four new service stations in Sharjah. Throughout 2021 Enoc opened 15 new service stations including its Service Station of the Future at the Expo 2020 Dubai site and new stations in Fujairah and Dragon Mart 2. Since announcing its build plan in 2016 Enoc has opened 55 service stations. Saif Humaid Al Falasi Group CEO Enoc said: We are strengthening the infrastructure of the UAE to meet the growing demand of our customers which is aligned to the UAE government s long-term plans to provide the highest quality of life to its people. By adding 24 new service stations to our existing network in 2022 we are demonstrating our commitment to serving th...
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At a time when the UAE national retail sales have reached 71 billion the Retail Summit 2022 the global content-led event is returning this month to Dubai presenting a billion-dollar opportunity. With major industry international leaders from across the globe slated to attend the summit from March 14 to 15 at Atlantis The Palm will identify key data and analytics relevant to the growth sustainability and innovation of the global retail industry. The summit in partnership with Dubai Chamber of Commerce brings together leading retail experts and uncovers their imperative role in leading the development of the global industry. This is particularly pressing at a time when technologies Gen Z trends and ecommerce effects on retail are now key elements in shaping the global industry s roadmap. According to recent studie...
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Software will become the main profitability growth driver for automakers said global research and advisory firm Gartner in a new report identifying the top five technology trends for 2022 that CIOs need to consider to prepare digital transformation. For the last 100 years automakers have focused on the mechanical side of car development and have mostly left software to other parties said Pedro Pacheco senior research director at Gartner. As digital technology becomes the differentiator in the car software will become the main profitability growth driver for automakers. Ultimately the goal for original equipment manufacturers (OEMs) will be to turn into tech or software companies. The top five automotive technology trends for 2022 are: Trend 1: Automakers review their approach to hardware sourcing Automakers are re-evaluating their long-held inventory strategy foll...
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Software will become the main profitability growth driver for automakers, said global research and advisory firm Gartner in a new report, identifying the top five technology trends for 2022 that CIOs need to consider to prepare digital transformation.
“For the last 100 years, automakers have focused on the mechanical side of car development and have mostly left software to other parties,” said Pedro Pacheco, senior research director at Gartner.
“As digital technology becomes the differentiator in the car, software will become the main profitability growth driver for automakers. Ultimately, the goal for original equipment manufacturers (OEMs) will be to turn into tech or software companies.”
The top five automotive technology trends for 2022 are:
Trend 1: Automakers review their approach to hardware sourcing
Automakers are re-evaluating their long-held inventory strategy foll...
Emirates has opened the doors of a new retail sales office in Fujairah further expanding its presence in the Northern Emirates and offering more convenience to customers wishing to book their next trip. Located in Al Ghilaila Building overlooking the Fujairah corniche the new office was inaugurated by senior Emirates and dnata commercial and sales executives in a ceremony attended by local government representatives. To celebrate the airline s expansion in the Northern Emirates Khalid Bel Jaflah Emirates Divisional Vice President UAE; Shaz Peshimam Senior Manager Dubai and the Northern Emirates and Khalid Hassan District Manager Northern Emirates were joined by dnata representatives including Simon Woodford Vice President Global Air Services and Distribution dnata Travel Group along with Yaser Rashed Mohammed Rashed from Fujairah Police and Esmaeil Al Boloushi General Manager Fujairah International Airport for a ribbon cu...
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Emirates has opened the doors of a new retail sales office in Fujairah, further expanding its presence in the Northern Emirates and offering more convenience to customers wishing to book their next trip.
Located in Al Ghilaila Building, overlooking the Fujairah corniche, the new office was inaugurated by senior Emirates and dnata commercial and sales executives, in a ceremony attended by local government representatives.
To celebrate the airline’s expansion in the Northern Emirates, Khalid Bel Jaflah, Emirates’ Divisional Vice President, UAE; Shaz Peshimam, Senior Manager Dubai and the Northern Emirates and Khalid Hassan, District Manager Northern Emirates were joined by dnata representatives including Simon Woodford, Vice President, Global Air Services and Distribution, dnata Travel Group, along with Yaser Rashed Mohammed Rashed from Fujairah Police, and Esmaeil Al Boloushi, General Manager, Fujairah International Airport, for a ribbon cu...
The second edition of The Retail Summit in Dubai brings together the brightest minds in the industry to reshape and define the next generation of retailers. The Summit taking place from March 14 to 15 at Atlantis The Palm will bring industry experts who will facilitate discussions on the global economic outlook Gen Z s impact on retail trends retail revolution sustainability and an overview on the future of ecommerce. It is set to welcome retailers leaders and industry experts worldwide to explore the evolution of the industry and markets at an in-person event a first for the summit since the 2020 pandemic began. The Retail Summit s second edition focuses on discussing the new retail landscape resulting from the global pandemic. With talks that will include addressing the future of the retail industry internationally we look forward to spotlighti...
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Retailers in the GCC must come together with their banks to provide easier access to working capital to suppliers and manufacturers a retail industry think tank has said. In a white paper published in February 2022 the UAE Retail Industry Think Tank called for retailers and bankers to introduce supply chain finance programmes to make it easier for retail suppliers and buyers to gain access to capital. The call for improved supply chain finance mechanisms is one of the 26 recommendations detailed in Rewiring the Supply Chain: Driving resilience and financial sustainability in the GCC retail supply chain the second white paper published by UAE Retail Think Tank. The think tank which is organised by MEED in partnership with Mashreq Bank says that retail suppliers are facing increasing financial pressure from the need to satisfy consumer expectations of the ins...
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UAE-based Azizi Developments is set to release more than 150 retail units from the remaining stock across its projects including the flagship master-planned community Riviera Creek Views in Dubai Healthcare City and several buildings in Al Furjan. Following the mantra of saving the best for last the units which were previously kept unreleased make up some of Azizi s finest most ideally located and most ROI-inclined retail spaces in Dubai said a statement from Azizi. Azizi Developments construction has been progressing more rapidly than ever before in 2021 a momentum that the developer is upholding well in 2022. In the past year alone Azizi has handed over thousands of units including those of Aura in Jebel Ali Mina on Palm Jumeirah and Samia Farishta Shaista Plaza and Star in Al Furjan stated the developer. d...
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The UAE retail economy continues to show robust signs of recovery surpassing 2019 levels by achieving a 4.5% growth in overall consumer spending in 2021 and presenting a positive outlook for 2022. Unsurprisingly e-commerce flourished in 2021 as consumers continued to prioritise convenient shopping experiences. POS (point of sale) data revealed a 104% increase in online shopping spending in 2021 compared to 2019 with the majority of online spending by residents in hypermarkets or supermarkets or general retail online offerings rising 46% in Q4 2021 from the third quarter according to Majid Al Futtaim the leading shopping mall communities retail and leisure pioneer across the Middle East Africa and Asia. The company s fourth edition of its quarterly State of the UAE Retail Economy report confirm Q4 2021 marked a standout period for consumer sentiment and overall spending boosted by Expo 2020 improvem...
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wasl properties one of the largest real estate development and management companies in Dubai has announced the launch of its latest development wasl green park a residential and retail oasis in the heart of Ras Al Khor. The huge project boasts 41 buildings featuring 2 527 housing units ranging from one- two-and three-bedroom apartments. The wasl green park will be delivered in three phases with the first two phases featuring 1 766 units across 27 buildings whereas the third phase will be launched next year comprising 14 buildings that constitute 761 units as well as 157 144 sq ft of retail space. The unique project is characterised by the spread of green spaces throughout in addition to the easy access to Sheikh Mohammed Bin Zayed Road and Al Khail Road. It also provides residents with several facilities including a kids play area ...
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It is imperative to create systematic support to advance women s representation and inclusion across automotive operations opined panellists at a session of the recently concluded Automechanika Dubai. The session titled An Interview with Women in Automotive Enabling Women as Industry leaders and Serving Female Consumers discussed various roles of women in the industry whether through inventions technical innovations leadership courage or inspiring successes behind the wheel. The discussion shed light on significant industry concerns and topics including underrepresentation of women at the executive level cultural and traditional bias due to underrepresentation and the importance of mentorship and guidance. The session also brought forward the need to encourage women early making the automotive industry appealing to women and the impo...
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Dubai is expected to see sustained economic growth in 2022 supported by an expected uptick in business activity in the tourism and retail sectors according to new analysis from Dubai Chamber of Commerce & Industry. The data insights released during a business seminar titled The Road Ahead: UAE and Dubai Economic Outlook and Opportunities in Dubai Exports pointed to a positive and robust recovery for the UAE economy over the next five years. In 2022 the UAE economy is projected to record an estimated annual GDP growth rate of 3.4 per cent due to the expected recovery in domestic demand recovery in international oil prices and the rebound in global demand for goods and services since mid-2020 onwards. Expo 2020 Dubai and the adjustment to the Monday-Friday work week is expected to improve the prospects of UAE trade and business with the rest of the world in the short- to me...
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Lifting the hood on a rapidly transforming and maturing sector where digitisation is the new driver the 18th edition of Automechnika Dubai the Middle East s largest international trade show for the automotive aftermarket industry opened today. The show which runs at Dubai World Trade Centre (DWTC) until Thursday was officially opened by Mattar Al Tayer Director General Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA) & Commissioner General for Infrastructure Urban Planning and Well-Being. Organised by Messe Frankfurt Middle East the event has exhibitors from 47 countries and 12 national pavilions all demonstrating just how far the sector has come in its technological transformation and signaling more change ahead. Technology advances are impacting all segments of the industry and are in evidence across all the sh...
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Safeen Feeders a leading container feeder operator of AD Ports Group has acquired a container ship that will bolster its feeder service fleet in the Arabian Gulf. Safeen Pearl formerly called Vega Virgo will be deployed in its UAE Coastal Service (UCO) providing seamless connection to UAE coastal ports via its hub at Khalifa Port a WAM report said. The UAE-Coastal Feeder Service provides shipping customers with a perfect connectivity solution that accelerates last leg deliveries between the Group s flagship Khalifa Port and the coastal ports of Ajman Umm Al Quwain Ras Al Khaimah Sharjah and Fujairah while supporting movement of goods and optimising local logistic chains. Additionally the cost-effective service complements Safeen Feeder s UAE-Indian Sub-Continent Gulf Service (UIG) that benefits exporters operating from India s West Coast and Paki...
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Dubai Investments is strengthening its presence in the retail sector by seamlessly integrating new retail spaces and units within its mixed-use developments across the emirates said a top official at the Retail Congress MENA (Recon) event which opened today (December 6). During the two day-event Dubai Investments will be highlighting its retail portfolio that includes more than 375 000 sq ft of retail space and 200 retail units across its mixed-use developments like Mirdif Hills and Al Taif Business Centre located in the UAE and the emirate of Fujairah respectively. The Market located in the Green Community Dubai Investments Park is also part of the retail projects being highlighted at Recon. The company plans to add further retail spaces through expansion works and new project announcements across the emirate. Al Taif Mall the G 2 ...
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UAE residents prefer to purchase clothes bags and accessories in-store with convenience (51%) an enhanced shopping experience (49%) and competitive pricing (44%) being the main motivators a survey reveals. As Covid-19 cases continue to decline in the country residents regain confidence in brick-and-mortar stores this is according to a Kearney study. With online in-store and omni-channel retailers going head-to-head for customer acquisition building stronger brand connections will become integral said Debashish Mukherjee Partner Consumer and Retail at Kearney Middle East. Consumption habits have undergone a fundamental transformation in the past 18-months where we saw a rapid acceleration in the adoption of online shopping and spending. While e-commerce has not slowed down as retailers invest in creating a safe environment and competitive pricing of their g...
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The Store Makers in the Middle East - a part of the Premium Retail Division that creates top-quality shopfitting with imagination a feeling for materials and pioneering trends - is uniting JWP Technical Services HDD Interiors and umdasch as three strong brands under one roof starting from January 1. This forms a powerhouse that will be one of the largest and most renowned companies for Retail Interiors in the Middle East with its substantial manufacturing capacities and retail expertise as well as an even wider service portfolio. All three companies are already playing in the top shopfitting league with their respective areas of expertise. Of this umdasch has project experience in the Middle East for more than 30 years including a good 10 years with its own production facility in Dubai. The reference list compri...
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CallisonRTKL (CRTKL) a global consultancy specialised in architecture design and technology has unveiled its role in the design of mega-project Riyadh Front a new retail destination in the heart of Saudi Arabia s capital. The development by Kaden Investment Company aids the economic cultural and societal pillars of the esteemed Saudi Vision 2030 in attracting modern local regional and international brands that contribute to the economy through modern trade. Located on King Khalid International Airport road the retail development is built on more than 180 000 sq m and includes top brands and restaurants along with a premium movie theatre. The first-of-its-kind outdoor retail resort integrates smart architecture and human-centered design to host innovative modular offices stunning green spaces and water features. This is in addition to world-class shop...
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GapMaps the Australian cloud-based mapping software specialist continues to expand its international presence which now extends to 21 countries including the UAE. Despite Covid-19 the retail sector has adapted to new customer demand patterns and built new channels to market. In the UAE GapMaps has seen strong growth in the fast-food delivery channel which is creating demand for data and insights that enable retailers to better plan for and capture the potential of this growing market. Since 2018 we ve been adding five new markets each year and double-digit revenue growth year-on-year says Anthony Villanti GapMaps Managing Director and Founder. This growth is due to the ease-of-use and sophistication of our mapping software which uses the very latest demographic government and industry data to help clients choose the right physical locatio...
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Adnoc Distribution the UAE s largest fuel convenience retailer is the first fuel retailer in the Middle East to launch the next generation retail experience a fully autonomous and contactless and cashier-less Adnoc Oasis store. It offers new state-of-the-art cashless and contactless payment system and an AI technology enhanced shopping environment. Busy customers will no longer have to queue or wait for staff to become free and unlike existing self-service terminals in retail outlets there s no need to scan items. Customers only need to tap in with a bank card Emirates ID or scan the QR code pick up the items they need and then simply walk out. Payment is taken after the customer leave the store either through the app or the bank card used to enter the store with all details of purchase stored in the app or through an e-receipt. Bader Saeed Al Lamki CEO Adnoc Distribution said: Our enhanced Adnoc Oasis s...
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Adnoc Distribution, the UAE’s largest fuel convenience retailer, is the first fuel retailer in the Middle East to launch the next generation retail experience, a fully autonomous and contactless and cashier-less Adnoc Oasis store.
It offers new, state-of-the-art cashless and contactless payment system and an AI technology enhanced shopping environment.
Busy customers will no longer have to queue or wait for staff to become free, and unlike existing self-service terminals in retail outlets, there’s no need to scan items. Customers only need to tap in with a bank card, Emirates ID, or scan the QR code, pick up the items they need and then simply walk out. Payment is taken after the customer leave the store, either through the app or the bank card used to enter the store, with all details of purchase stored in the app or through an e-receipt.
Bader Saeed Al Lamki, CEO, Adnoc Distribution, said: “Our enhanced Adnoc Oasis s...
The Saudi Advanced Technologies Company (Wahaj) has announced an agreement with US Honeywell Company as an accredited importer for aircraft spare parts. As per the agreement Wahaj will manufacture and export a wide variety of spare parts to Honeywell Aerospace in the US Europe and Asia a SPA report said. Wahaj is among companies that have received the AS9100 accreditation in the Kingdom of Saudi Arabia and works in manufacturing high precision components and other parts in the aviation industry. As part of the agreement Wahaj will provide Honeywell original spare parts such as tyres brakes energy systems and the aero and thermal systems and assisting energy units for several main platforms including Airbus 350 330 320 neo Boeing 737MAX and 777 Dassault Falcon 8X/M1000 and McDonnell Douglas 11. TradeArabia News Service ...
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The Saudi Advanced Technologies Company (Wahaj) entered agreement with Honeywell as an accredited importer for aircraft spare parts where Wahaj will manufacture and export a variety of spare parts to Honeywell Aerospace in the US Europe and Asia. Wahaj is among companies that have received the AS9100 accreditation in the Kingdom of Saudi Arabia and works in manufacturing high precision components and other parts in the aviation industry reported Saudi Press Agency (SPA). As part of the agreement Wahaj will provide Honeywell original spare parts such as tyres brakes energy systems and the aero and thermal systems and assisting energy units for several main platforms including Airbus 350 330 320 neo Boeing 737MAX and 777 Dassault Falcon 8X/M1000 and McDonnell Douglas 11. ...
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The Saudi Advanced Technologies Company (Wahaj) entered agreement with Honeywell as an accredited importer for aircraft spare parts, where Wahaj will manufacture and export a variety of spare parts to Honeywell Aerospace in the US, Europe and Asia.
Wahaj is among companies that have received the AS9100 accreditation in the Kingdom of Saudi Arabia, and works in manufacturing high precision components and other parts in the aviation industry, reported Saudi Press Agency (SPA).
As part of the agreement, Wahaj will provide Honeywell original spare parts, such as tyres, brakes, energy systems, and the aero and thermal systems, and assisting energy units for several main platforms, including Airbus 350, 330, 320 neo, Boeing 737MAX and 777, Dassault Falcon 8X/M1000 and McDonnell Douglas 11.
Sanad the global aerospace engineering and leasing solutions leader owned by Mubadala Investment Company has signed an agreement with Saudi-based Middle East Propulsion Company (MEPC) to significantly enhance the regional presence and service reach of both companies. The MoU will see a collaboration between both companies in joint capabilities across advanced aero-engine repairs said the company in a statement. Within the current framework the duo will benefit from each other s diverse leading services across engine repairs upgrades overhaul and testing processes it stated. The agreement was signed by Mansoor Janahi Deputy Group CEO Sanad and Abdullah Al-Omari CEO from MEPC at the ongoing Dubai Airshow 2021. This strategic new collaboration with MEPC builds on Sanad s regional footprint and expands our reach...
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Ebrahim K Kanoo has made a donation of automotive parts to the Ministry of Education in line with its vision of bettering the lives of the youth of the nation by investing in education. The parts will be used by the Ministry in public schools who have adopted the official Automotive Body and Paint curriculum. Officials from Ebrahim K Kanoo and the Ministry of Education met at the company s Training Centre for the handover and to discuss the significant bilateral relations shared between the two entities over the years. Ebrahim K Kanoo continuously works on to leave a positive and long-lasting impact on the lives of the citizens of Bahrain specifically for youth in the education field. The donation of a vehicle and parts helps the students stay updated with the latest global automotive technologies and gives them a chance to develop their skills and have better career opportunities in the...
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Carrefour tops YouGov s Retail Rankings 2021 in Egypt within an Index score of 28.1. Popular retail brand Souq.com (23.6) recently relaunched as Amazon Egypt is second in the list followed by its parent company Amazon.com in third (18.2). Egypt s local grocery brand Aswaq Fathallah Markets (17.1) occupies the fourth place followed by HyperOne (15.5) and Jumia.com (15.4). Swedish home furniture and accessories brand IKEA having recently opened doors to its second large-format store in Egypt finds itself in the eighth place (12.7). Other notable homegrown brands that complete the top ten for Egypt are Awlad Ragab (14.8) B.Tech (12.6) and Kazyon (11.7). Methodology: The brands in YouGov Retail Rankings were ranked based on their Index score which is a measure of overall brand health ...
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Carrefour and Adidas are the retail brands perceived as delivering best against their brand promise on key brand health-related metrics according to UAE residents. Carrefour tops the UAE rankings with an Index score of 42.2 YouGov s Retail Rankings 2021 reveal. Swedish furniture giant IKEA is placed second (33.1) followed by UAE s retail major Lulu Hypermarket in third (30.8). Amazon.ae secures the fourth place (26.8) in the list while Amazon s paid subscription programme Amazon Prime appears in ninth (18.0). Homegrown brands such as Noon.com (23.9) Sharaf DG (22.3) Adnoc (18.6) and UnionCoop (14.8) also feature in the list amidst a host of global names. Finally completing the top ten list for UAE for the category of Online & Offline Retailers is Swedish ...
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Aramco and TotalEnergies have launched the first two service stations of their joint retail network in Riyadh Saudi Arabia s capital and Saihat in the country s Eastern Province. It follows the signing of a 50:50 Joint Venture (JV) Agreement between Aramco and TotalEnergies in 2019 with plans to significantly upgrade a network of 270 service stations and expand the range of quality retail services available across the kingdom. This network will comprise Aramco or TotalEnergies branded stations providing motorists with premium fuels and retail services. Amin H. Nasser Aramco President and CEO said: The opening of the first service stations marks an important milestone as we continue to expand our presence in the kingdom s downstream value chain. With our longstanding partner TotalEnergies we are creating a premium network that will enhanc...
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Bain & Company Middle East will host a panel discussion that examines current trends in the Mena consumer culture and how companies and retailers can better serve the needs of these new Mena consumers. At the 5th Anniversary of the Future Investment Initiative (FII) a three-day programme to be held in Riyadh from October 26 to 28 Bain will dive into global retail trends while identifying the ones which are most relevant to the Mena region in the short or long term. Moderated by Anne-Laure Malauzat Partner at Bain & Company Middle East the session will take place on the first day of the event from 15:45 to 17:00 (KSA time). Malauzat will be hosting C-level executives of leading retail companies in the Mena region. The discussion will focus on how today s consumer is evolving into a more informed purchaser demanding more personalised and digitalised services with a growing interest in newe...
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Etisalat is demonstrating the retail spaces of tomorrow at Gitex Global 2021 with futuristic solutions that will transform the brick-and-mortar experience setting the pace for digital retail and enabling a digital experience for consumers. With 5G connectivity digitisation is a reality and during this year s edition the demonstrations will help visitors witness the evolution of retail and experience a connected store at the same time. Now with the 5G network it will become a critical enabler of these futuristic use cases opening up a world of opportunities for the retail sector. The main sections of smart retail focus on grocery smart checkout solutions food and beverages lifestyle and connected fashion and retail dashboard. There are advanced AI use cases machine learning and computer vision all with Etisalat s payment s functionality integrated to demonstrate the capability of providing complete end-to-end solutions in this d...
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Etisalat is demonstrating the retail spaces of tomorrow at Gitex Global 2021 with futuristic solutions that will transform the brick-and-mortar experience setting the pace for digital retail and enabling a digital experience for consumers.
With 5G connectivity, digitisation is a reality and during this year’s edition, the demonstrations will help visitors witness the evolution of retail and experience a connected store at the same time. Now with the 5G network, it will become a critical enabler of these futuristic use cases opening up a world of opportunities for the retail sector.
The main sections of smart retail focus on grocery smart checkout solutions, food and beverages, lifestyle and connected fashion and retail dashboard. There are advanced AI use cases, machine learning and computer vision all with Etisalat’s payment’s functionality integrated to demonstrate the capability of providing complete end-to-end solutions in this d...
Majid Al Futtaim a leading shopping mall communities retail and leisure pioneer in the region has appointed Mace the global consultancy and construction company to support the delivery of its flagship SR16 billion ( 4.26 billion) integrated retail and lifestyle development - Riyadh North - including the integrated lifestyle destination Mall of Saudi. The master-planned Riyadh North project and Mall of Saudi is expected to house over 600 retail stores across a 300 000 sq m gross leasable area nine hotels and branded residences with 2000 keys and Ski Saudi the largest indoor ski slope and snow park in the Middle East. Reinforcing its commitment to Saudi Arabia and its contribution to Vision 2030 Majid Al Futtaim said its Riyadh North development is the fastest growing zone in the city and is already gathering pace. Mace which was appointed following a c...
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Arabian Internet and Communications Services Company (solutions by stc) a leading ICT services provider in Saudi Arabia has announced completion of its retail offering process for its initial public offering (IPO). The subscription period for Individual Investors Tranche comprising 2 400 000 shares representing 10% of the total offering at a final Offer Price of SR151 ( 40.2) commenced on September 19 2021 and ended on September 21 2021. The Individual Investors Tranche witnessed participation by 1 042 090 subscribers and was 2365.0% oversubscribed with a total demand of SR8.6 billion. Each retail subscriber will receive a minimum of 2 shares while the remaining shares will be allocated on a pro-rata basis for the remaining demand with an average allocation factor of 0.5776%. The offering to individual investors followed the Institutional Book-building process which registered an IPO order book that was 13004.7% oversubscribed at...
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Arabian Internet and Communications Services Company (solutions by stc), a leading ICT services provider in Saudi Arabia, has announced completion of its retail offering process for its initial public offering (IPO).
The subscription period for Individual Investors Tranche, comprising 2,400,000 shares representing 10% of the total offering at a final Offer Price of SR151 ($40.2), commenced on September 19, 2021 and ended on September 21, 2021.
The Individual Investors Tranche witnessed participation by 1,042,090 subscribers and was 2365.0% oversubscribed with a total demand of SR8.6 billion. Each retail subscriber will receive a minimum of 2 shares, while the remaining shares will be allocated on a pro-rata basis for the remaining demand with an average allocation factor of 0.5776%.
The offering to individual investors followed the Institutional Book-building process which registered an IPO order book that was 13004.7% oversubscribed at...
Renowned luxury holding company Kane & Ashley has announced the launch of Le Éleur its exclusive online retail portal for discerning individuals who enjoy seeking out the finer things in life. This foray into the world of e-commerce is a natural extension to the mission of Kane & Ashley and its sister companies Mavroki K&A and Eval of providing opulent pieces that set them apart from anything within the luxury-good market. Le Éleur offers a unified platform for their diverse collections to be accessible in a stylish easy-to-navigate portal. These ranges from the unique sought-after fragrances by French perfume house Mavroki to the lavish timepieces by sister brands K&A and Eval which feature motifs that suit the tastes of both male and female wearers to exquisite items made from genuine Italian leather to intricately crafted writing implements among...
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Islamic banks in GCC countries and South and Southeast Asia are focusing on low-risk retail finance which will help protect their asset quality amid an uneven economic recovery across these regions said Moody s Investors Service in a new report. Regulatory forbearance has masked the deterioration in the banks loan books and high provisioning costs will continue to weigh on profitability but their capital and liquidity buffers should comfortably absorb unexpected losses said Badis Shubailat Analyst at Moody s. Consolidation within fragmented Islamic banking markets presents opportunities. Key points: Return on assets will remain on average below pre-pandemic levels this year because of low interest rates a still-subdued operating environment and high provisioning costs. Strong demand for Islamic finance which is growing faster t...
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Islamic banks in GCC countries and South and Southeast Asia are focusing on low-risk retail finance, which will help protect their asset quality amid an uneven economic recovery across these regions, said Moody’s Investors Service in a new report.
"Regulatory forbearance has masked the deterioration in the banks' loan books, and high provisioning costs will continue to weigh on profitability, but their capital and liquidity buffers should comfortably absorb unexpected losses," said Badis Shubailat, Analyst at Moody's. "Consolidation within fragmented Islamic banking markets presents opportunities."
Key points:
• Return on assets will remain on average below pre-pandemic levels this year because of low interest rates, a still-subdued operating environment, and high provisioning costs.
• Strong demand for Islamic finance, which is growing faster t...
Sabic a global leader in the chemical industry has introduced Noryl GTX 9500 resin a new addition to a range of unfilled Noryl GTX resin grades which delivers excellent dimensional stability under hot and humid conditions. Sabic s Noryl GTX 9500 resin retains a better balance of mechanical properties when exposed to heat and humidity typical of automotive under-hood environments than polyamide (PA) resins (PA66 and PA6) as well as comparable high flow and high-temperature performance. Its dimensional stability and mechanical property retention under a wider range of temperatures and humidity together with high flow performance can open opportunities for thin-wall designs that reduce weight. Target applications for Noryl GTX 9500 resins include vehicle junction boxes connectors and other applications requiring dimensional stability. These materials also demonstrate a potential for use as the base resin in carbon fiber-reinf...
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Sabic, a global leader in the chemical industry, has introduced Noryl GTX 9500 resin, a new addition to a range of unfilled Noryl GTX resin grades, which delivers excellent dimensional stability under hot and humid conditions.
Sabic’s Noryl GTX 9500 resin retains a better balance of mechanical properties when exposed to heat and humidity typical of automotive under-hood environments, than polyamide (PA) resins (PA66 and PA6), as well as comparable high flow and high-temperature performance. Its dimensional stability and mechanical property retention under a wider range of temperatures and humidity – together with high flow performance – can open opportunities for thin-wall designs that reduce weight.
Target applications for Noryl GTX 9500 resins include vehicle junction boxes, connectors and other applications requiring dimensional stability. These materials also demonstrate a potential for use as the base resin in carbon fiber-reinf...
At BMW Group rather than the previous approach of rule-based maintenance at regular intervals predictive maintenance is carried out based on the current condition of the system. When it comes to maintaining production systems the solution of choice at the group is to use sensors data analytics and artificial intelligence (AI). This not only prevents unscheduled downtimes in production but also makes an important contribution to sustainability and the efficient use of resources by ensuring optimum system availability. Innovative cloud-based predictive maintenance solutions are currently being rolled out across the global production network. The increasing digitalisation of maintenance has made a predictive approach more and more important. By monitoring equipment and status data predictive maintenance can forecast system failures before they actually happen. ...
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Majid Al Futtaim the leading shopping mall communities retail and leisure pioneer across the Middle East Africa and Central Asia has announced the opening of the Mall of Oman in Muscat. The sultanate s largest shopping and leisure destination the Mall of Oman boasts a 9 000 sq m Carrefour Hypermarket as part of Majid Al Futtaim package as well as the largest Vox Cinemas - complete with 15 screens - in addition to the only IMAX experience in the country the first GOLD experience in Oman and a big Magic Planet facility featuring award-winning rides games and attractions. Alongside this offering customers will get to enjoy a host of brands from the Landmark and Apparel groups. In addition Mall of Oman will offer famous outlets such as DKNY Nespresso G-Shock Homes R Us Tavola and Al Khalili Buildex ensuring there is something for everyone. And for t...
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Lynk & Co a global mobility brand formed as a joint venture between Geely Holding Geely Auto Group and Volvo Car Group has launched its always connected car. The vehicle uses internet of things (IoT) network and infrastructure from Orange Business Services to deliver connected services to drivers. The 01 SUV auto is sold on simplicity. Lynk & Co offers membership-based mobility for those who want to rent a car instead of purchasing it in the traditional sense. The car incorporates a share button enabling owners to generate income via sharing functionalities. Lynk & Co members can also control monitor and share their car from a smartphone app that communicates with the car via the cloud. In-car technology has been designed to be as easy to use as possible with no hidden extras. All cars have large configurable touch screens and telematics that are always connected ...
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UAE-based Azizi Developments has announced the release of its last retail and commercial units across phases one and two of Riviera its new French Mediterranean-inspired landmark destination in Dubai following the market s rapid absorption of its existing inventory. This move comes in light of a substantial surge in demand for units facing the newly announced lagoon which will allow residents to swim in crystal blue filtered and desalinated waters and unwind on its beach-like shores said Azizi in a statement. Following the surprise announcement of the lagoon last month Azizi has sold out its existing released inventory of lagoon-facing units within just days it added. The gigantic crystal lagoon which is akin to a massive swimming pool over 2.7 km long that will cover an area of more than 130 026 sq. m and will stretch across the entirety of the Riv...
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ZonesCorp an Abu Dhabi Ports company said work has been completed on 1.38 million sq m of commercial and retail areas at Rahayel Automotive and Mobility City the first integrated hub for the automotive industry in the region to accommodate a full range of auto-related businesses and supporting services. Part of the Industrial Cities & Free Zone Cluster of Abu Dhabi Ports and one of the largest economic zone operators in the UAE the Rahayel Automotive and Mobility City will feature showrooms service centres and workshops auction houses and sector-based regulatory and governing bodies. It is also home to a vehicle test track an inspection facility and an auto training centre. Once completed in June next year it will boast numerous retail and commercial plots and will be complemented by lifestyle retail and entertainment facilities as part of an effort to further enhance the wider location s over...
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Hyundai Motor Group Honorary Chairman Mong-Koo Chung has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The industry s top honour was presented to the class of 2020 at a celebration held at the ICON Convention Center in Detroit on July 22. The induction ceremony was attended by Hyundai Motor Group Chairman Euisun Chung who participated in Chung s place. Chairman Chung received the induction trophy and made a speech on behalf of his father. Honorary Chairman Chung grew Hyundai Motor group into the world s fifth largest automaker from its humble beginning. If my father were here he would say he owes this honor to our employees dealers and fantastic customers said Euisun Chung. My father continued the legacy of my grandfather Ju-yung Chun...
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Despite the challenges of the global pandemic retail property markets in Saudi Arabia witnessed higher footfall in malls and retail centers according to JLL s latest KSA Real Estate Market Performance report. Saudi Central Bank (SAMA) announced that the point-of-sale (POS) transactions have been increasing over the past few weeks and almost doubled compared to the same period last year. The POS transactions rose by 72% to SAR 40.3 billion in May 2021 from SAR 23 billion in May 2020. Data also showed that a total of 407 million transaction were processed in May 2021 an increase of 155% compared to the same period last year. According to JLL s report the trend indicates that despite the change in consumer behaviours and the shift to e-commerce many customers still prefer the physical experience . The ...
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Al-Futtaim Automotive one of the main five operating divisions within the UAE-based Al-Futtaim Group has expanded footprint in the UAE with the opening of a state-of-the-art Auto Park in Al Ain. Measuring at 120 749-sq-ft the facility will bring together new and pre-owned cars from its leading automotive brands including Toyota Lexus Honda Chrysler Dodge and RAM. The facility perfectly reflects Al-Futtaim s new standards of corporate identity which is being implemented across all its brands to further strengthen their equity globally. After eight years of extensive research to fully understand the growth of Al Ain City which included robust customer research Al-Futtaim Automotive selected the location due to its proximity to the expected growth area of Al Ain its accessibility and traffic flow. The project is the first automotive facility to operate all brands under one roof as well as being the only multi-story automot...
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Al-Futtaim Automotive, one of the main five operating divisions within the UAE-based Al-Futtaim Group, has expanded footprint in the UAE with the opening of a state-of-the-art Auto Park in Al Ain.
Measuring at 120,749-sq-ft, the facility will bring together new and pre-owned cars from its leading automotive brands including Toyota, Lexus, Honda, Chrysler, Dodge and RAM. The facility perfectly reflects Al-Futtaim’s new standards of corporate identity which is being implemented across all its brands to further strengthen their equity globally.
After eight years of extensive research to fully understand the growth of Al Ain City, which included robust customer research, Al-Futtaim Automotive selected the location due to its proximity to the expected growth area of Al Ain, its accessibility and traffic flow.
The project is the first automotive facility to operate all brands under one roof, as well as being the only multi-story automot...
Motorcity the distributor of world-renowned vehicles in Bahrain has welcomed Jetour a new game changing brand to its growing portfolio of global automotive vehicles. Jetour is part of a globalised automobile group based in China with over 20 years of formidable experience in automotive engineering. The association boasts an array of self-owned and joint-venture brands with its independent subsidiaries focusing on vehicle segments in the market. The group made their mark in the business in terms of evolving the technological aspect of their vehicles and dedicating itself to capitalising on these advanced technological options and maintaining affordability of its products. Jetour Bahrain will be initially launched with three new models; the X70 the X70S and the flagship X90 at the Motorcity Showroom in Sitra. The latest range was created with a young audience in mind who appreciate premium quality significant t...
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Bahrain s leading telecom services operator Batelco has announced the opening of a one-of-its-kind retail shop for Bahrain s telecom sector in Zallaq. The new outlet features not only a walk-in shop but also a drive-thru and is completely cashless in line with modern international retail trends. The shop is located in the vibrant and quickly developing Zallaq area close to the BIC University of Bahrain and exciting new tourist and business facilities that are currently being built such as the new Bahrain International Exhibition & Convention Center. It will be open 24/7 the first telco retail shop outside of the airport serving around the clock. On the new retail concept General Manager (Consumer Division) Maitham Abdulla said: Batelco aims to create retail spaces that are more inviting for its cu...
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Mall of Dilmunia a unique family destination in Bahrain offering a new shopping and entertainment experience has opened seven new brands - Kafed Junaid Perfumes Florencia The Groom Room Asgharali Ajmal Perfumes and Dose Café - within its premises. The selection of brands is diverse and one that will accommodate both essential services F&B retail and entertainment. Amongst the new F&B which has recently opened on the Lower Ground Floor is Kafed. This new café provides visitors the finest Greek coffee that boasts a mixture of roasts it also features a modern and cozy interior to go with the perfect cup of fresh coffee alongside delicate sandwiches and mouthwatering desserts. Commenting on the occasion CEO Shaikh Mohammed bin Duaij Al Khalifa said: We are glad to announce the opening of a number of our valuable tenants who will add to the m...
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Ineos Automotive has confirmed The Halo Trust as a development partner for its uncompromising Grenadier 4X4. Ineos is aiming to develop a fleet of bespoke Grenadiers suitable for Halo operations capable of supporting its lifesaving work in 25 post-war countries. The Halo Trust is the world s largest humanitarian mine clearance and weapons disposal organisation. With a worldwide fleet of over 600 4X4 vehicles the joint British and American charity operates off-roaders in some of the most remote and inhospitable places on the planet. From mountain tracks to urban battlefields Halo goes further to find and destroy landmines said James Cowan CEO of The Halo Trust. This means that we need a vehicle fleet fit for war zones rainforests and deserts. Our 9 000 deminers are some of the most resilient people on the planet - they need a vehicle they can rely on to keep them safe and get ...
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While experts believe a full automotive market recovery could take up to four years many analysts and industry leaders have already seen green shoots spurred on by the implementation of digital tools and the region s Covid-19 vaccination efforts. That was the message delivered at Automechanika Dubai Network on May 25 a one-day hybrid event that brought the region s biggest players together under a central theme of Let s Talk Business: Adaptation & Innovation During Covid-19 . Leading the morning s sessions was Vishal Pandey Automotive &Mobility Practice at Glasgow Consulting Group who presented The State of the Automotive Market in Covid and post-Covid Times believing regional government s initiatives have been critical to boosting the economy. He said: KSA and the UAE have managed the pandemic particularly well. They have t...
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Emirates NBD a leading banking group in the Menat (Middle East North Africa and Turkey) region was voted by consumers to win the award for the Most Recommended Retail Bank in the UAE in the Middle East at The Asian Banker s 2020 BankQuality Awards. As part of its 2020 BankQuality Consumer Survey on Retail Banks The Asian Banker gathered feedback from 3 000 consumers in the UAE Saudi Arabia and Egypt on satisfaction with their retail banks. The survey assessed consumer perception attitude and loyalty to financial institutions based on experience with service channels products and Covid-19 support initiatives. The findings were derived as a BankQuality Score for The Asian Banker s evaluation of the Best Retail Finance Institutions in the region. Emirates NBD scored high in different areas such as mobile banking personal loan and remittances. The bank was commended for its leadership in innovation ...
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Titan Watches continues to extend its footprint here in the region announcing today that they are on course to expand to 350 retail outlets by 2023. In addition to 5 exclusive brand outlets opening here in the UAE in 2021 the fifth largest watchmaker in the world is focusing on GCC-wide growth in conjunction with partners Khimji Ramdas LLC in Oman and the Al Batel group in Kuwait not to mention increasing their overall presence across all major e-commerce platforms. Earlier this week the brand announced its special-edition Crescent Collection inspired by the Holy Month and its accent on reflection and quiet contemplation. Featuring 4 stunning timepieces for women and men certain to resonate with the contemporary collector it truly captures the timeless appeal innovation and elegant design the world s fifth largest watchmaker is known for. Each distinct feature of the ...
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Ras Al Khaimah Economic Zone (Rakez) has recently added another renowned brand to its portfolio of growing businesses Caresoft Global a global company specialising in automotive benchmarking and engineering solutions related to product development cost optimisation and manufacturing process engineering. The company occupies a 7 300 sq m facility in Al Hamra Industrial Zone and is set to create 100 engineering job opportunities in Ras Al Khaimah said a statement by Rakez. Established in 2007 and currently headquartered near Detroit USA Caresoft has built a presence in over 15 locations across North America Europe China India and Southeast Asia. The newly launched facility in Rakez is an expansion move to effectively cater to the increasing demand for reverse engineering solutions in the Middle East and North Africa (Mena) markets. We are excited about ...
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Navya a leading company in autonomous driving systems and REE Automotive an innovator in e-Mobility have signed an agreement to collaborate in the development of a level 4 autonomous system including REE corner technology and Navya self-driving solutions. REE is revolutionising the e-Mobility industry through its highly modular and disruptive REEcorner technology which integrates critical vehicle components (steering braking suspension powertrain and control) into the arch of the wheel. REE s proprietary x-by-wire technology challenges century-old automotive concepts by being agnostic to vehicle size and design power-source and driving mode (human or autonomous). Platforms utilising REEcorners can present significant functional and operational advantages over conventional EV skateboards currently available in the market. Navya is a leading player in...
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Citigroup has said it will close retail banking operations in 13 countries across Asia and parts of Europe including Bahrain to focus more on wealth management outside the US. This move one of the first big strategic moves made by CEO Jane Fraser who took over in February will also cover the consumer franchises in Australia China India Indonesia Korea Malaysia the Philippines Poland Russia Taiwan Thailand and Vietnam. Citigroup s Institutional Clients Group will continue to serve clients in said a statement. Tweeting on the decision CEO Jane Fraser said: Let me be clear on one very important point: Citi will continue to invest behind and serve our institutional clients in these thirteen markets. Meanwhile Citigroup reported a net income for the first quarter 2021 of 7.9 billion or 3.62 per diluted share on revenues of 19.3 billion.&n...
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Samaco Automotive the exclusive dealer for Audi in Saudi Arabia announces the arrival of a limited run exclusive Signature Edition derivatives for its A4 and A6 models into showrooms across the kingdom. The Audi A4 Signature Edition ranks at the top of luxury compact sedans due to its exceptional ride quality powerful yet efficient engine output eclipsed only by the exceptional interior finish; an Audi trademark. The A4 Signature Edition features a 2-litre 190 hp power plant and features a set of additional exclusive options such as 19-inch wheels and an integrated lumbar support system within its seats providing additional lower back support especially on long journeys. Additionally featuring Audi LED light technology with dynamic turning signals and a full 360 degree view camera system and Audi Virtual cockpit plus screen. ...
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Hotpack Global a leading manufacturer of disposable food packaging products announced opening of its largest retail store for food packaging products in the UAE. The outlet is the biggest of Hotpack s 32 sales centres will offer a versatile range of food packaging products for both retail and wholesale customers Hotpack Global said in a statement adding that its product range will continue to reinforce the company s uncompromising focus on quality innovation and hygiene. The new sales centre is our 32nd in the GCC. The opening of the outlet comes in the backdrop of the exponential growth of the food packaging industry in the UAE which is poised to be at AED 14 billion in the next five years from AED 10 billion in 2020 said Abdul Jebbar PB Group Managing Director Hotpack Global at the opening of the centre in the presence of the chief guest Adnan Jasim Rashid Boausaibah Directo...
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Diyar Al Muharraq one of the largest real estate development companies in Bahrain has announced that construction is well under way on the Souq Al Baraha project the latest retail and hospitality addition to its integrated city and close-knit community. With over 80% work completed including the superstructure Souq Al Baraha is expected to be open to the public within 2021. The project has already attracted both local and international businesses to its premises and has successfully booked a myriad of tenants for occupancy to date including restaurants cafés as well as carpet and antiques vendors said a statement from Diyar Al Muharraq. In addition designated spaces and sections have been earmarked for gold and jewellery traditional spices and sweets alongside fresh produce ranging from fruit to fish meat and poultry it stated. &...
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Vincitore Realty a branded-boutique real estate developer has launched The Promenade a key retail and tourism destination located within its Vincitore Boulevard project next to the Miracle Gardens in Arjan a thriving neighbourhood of Dubai. Situated just 10 minutes away from the 7 Distinct Residential Communities of Arjan JVC Motor City Sports City Arabian Ranches Dubai Hills and Al Barsha South The Promenade will be the new go-to place said the developer. Spread over a 100 000 sq ft area it offers retail experience along with a 250-m long boulevard boardwalk that creates an ambiance to relax unwind reconnect and enjoy. It embraces a striking vision of the most extensive boutique outdoor experiential lifestyle retail for the visitors and for the retailers to extend their customers remarkable experience like never before said a top official. ...
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Majid Al Futtaim a leading shopping mall developer communities retail and leisure pioneer across the Middle East Africa and Central Asia has officially opened its newest lifestyle and retail experience in the Northern Emirates: AED2.6 billion ( 708 million) City Centre Al Zahia. Featuring distinct architecture and offering exceptional hospitality options the City Centre Al Zahia is expected to become a popular destination within the emirate with art and culture at the heart of the unique experiences it offers. Crucially the mall will also connect seamlessly to Majid Al Futtaim s one-million-square-metre residential community Al Zahia. A short walk away from the new mall Al Zahia has been envisioned as Sharjah s premier lifestyle destination and is part of the strategic partnership between Majid Al Futtaim Properties and Sharjah Asset Management. ...
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Jadwa Investment one of the region s leading investment management and advisory firms has signed a sale and purchase agreement to acquire The Boulevard Riyadh a luxury retail and office complex in the north of Riyadh for SR320 million ( 93.2 million) on behalf of Jadwa REIT Saudi Fund. The Boulevard Riyadh on Prince Turki bin Abdulaziz Al Awwal Road in the Hittin district features shopping dining offices luxury hotel apartments recreation and fitness facilities. It has a total land size of 18 854 sqm a built-up-area of 36 340 sqm and a 97% occupancy rate. The acquisition of the property will be financed through a SAR 370 million capital increase of the fund which will consist of an in-kind contribution from the seller and the issuance of additional cash units. Jadwa REIT Saudi Fund is a closed-ended Shariah compliant real estate investment-traded fund ...
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Nakheel Malls the retail arm of master developer Nakheel has joined hands with DP World the leading smart trade enabler and provider of global end-to-end supply chain logistics to launch a centralised one-stop-shop Souk Al Marfa. Strategically located at Deira Islands and stretching 1.9 km along the waterfront Souk Al Marfa is in close proximity with Mina Rashid Mina Al Hamriya and Deira Wharfage with the potential to ship and import directly to its 2 500 shops and pavilions. Due to open in April 2021 the vibrant retail and trading hub will operate seven days a week and 365 days a year. A centralised one-stop-shop at Deira Dubai s oldest and most traditional trading hub Souk Al Marfa provides affordable growth opportunities to traders by offering multiple benefits including 100 per cent foreign ownership repatriation of capital and profit no restrictions on...
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Madinah Municipality has invited expressions of interest from leading investors for the Central Area Plot Development Project in Al Naqaa neighbourhood within the Saudi city on a BOT (build-operate-transfer) basis. The scope of work includes construction operation and maintenance of hospitality and retail assets on a 3 550 sq m area. The municipality said the project which is located on the south/southwest side of the Makkah mosque will be offered in two phases: the first for qualification of applicants and the second for qualified developers consortiums or consortium developers to bid for the project and also for establishment of both - a hotel and a retail area. This project has been launched to the market after receiving the necessary approval from the Municipalities Privatization Supervisory Committee the civic body said in a statement. /div...
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Sales generated with adhesives across Europe are expected to grow by 0.5 per cent per year until 2027 according to a forecast made by Ceresana which has now examined the European market for adhesives for the fourth time. In 2019 a total of around 3.51 million tonnes were utilized it said. Electric motor hybrid or fuel cell? It is still not clear which drive system will prevail; however it is certain that future mobility will depend on innovative joining technology. Even today a new car contains around 18 kg of adhesives - from heat-dissipating protective layers for battery cells to lightweight chassis and crash-proof windows. Where screws rivets or welds were used in the past the automotive industry is now increasingly using adhesives the market researcher said in its report. Combining established and innovative materials This study not only examines the use of adhesives in t...
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SAP has announced retail-specific findings from a research study conducted in partnership with Oxford Economics revealing how business leaders use digital innovation to be data-driven and focused on experiences. SAP and Oxford Economics surveyed 3 000 executives from 10 industries including 300 from the retail sector. Business leaders were asked to evaluate their value chain including operations and business ecosystems and how they manage this broad web of relationships as a unified entity. The results summarized in The Responsive Retailer illustrate the importance of data sharing and using a holistic systems thinking approach. Key findings include: While just over half of retailers cite a digital supply chain as a top-three priority for their success many have not yet integrated the types of technologies such as AI that comprise an intelligent digital supply chain. Also only 29% are effectively sharin...
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SAP has announced retail-specific findings from a research study conducted in partnership with Oxford Economics, revealing how business leaders use digital innovation to be data-driven and focused on experiences.
SAP and Oxford Economics surveyed 3,000 executives from 10 industries, including 300 from the retail sector. Business leaders were asked to evaluate their value chain, including operations and business ecosystems, and how they manage this broad web of relationships as a unified entity.
The results, summarized in The Responsive Retailer, illustrate the importance of data sharing and using a holistic systems thinking approach. Key findings include:
• While just over half of retailers cite a digital supply chain as a top-three priority for their success, many have not yet integrated the types of technologies, such as AI, that comprise an intelligent digital supply chain. Also, only 29% are effectively sharin...
GFH Financial Group (GFH) the leading investment group in the Middle East has expanded its presence in Bahrain s retail sector by acquiring 80 per cent of Hidd Mall alongside a strategic investor. The 46 000 sq m mall located in the fast-growing area of Hidd in Muharraq is fully leased to Lulu Hypermarkets a major retail chain in the Middle East. The mall currently boasts 100% occupancy with Lulu Hypermarkets sub-leasing the space to a diverse range of multinational regional and local tenants. GFH currently has 12 billion asset and fund under management across a range of industries and sectors globally. In addition to Hidd Mall the group s retail investment include Events Mall in Jeddah and the Entertainer the leader in loyalty and rewards solutions it stated. On the deal Chief Investment Management head Hammad Younas said: GFH is excited to announce thi...
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The Covid impact on the automotive industry of Saudi Arabia has seen decline in the foot fall across various showrooms of brands which used to be the major mode of sales pre-Covid. We see a shift towards e-commerce in the KSA automotive industry with higher online penetration levels across various segments but not a major move from physical to online sales said Ken Research in a report. Various new vehicle maintenance models are also witnessed with varying ownership periods amidst job loss and closing of many offices. Share mobility market also witnessed a decline as people move towards hygienic ways impacting different market segments. Corrective measures taken by various entities and government itself to sustain business and are providing incentive to move towards innovative business models in various industry segments. The technology trends and deve...
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Emirates NBD a leading banking group in region has won top international honours for its leadership in retail banking and digital innovation at the recently held 11th annual Retail Banker International (RBI) Asia Trailblazer Awards 2020. The bank was named Best Retail Bank in the UAE in recognition of its continued market leadership strong customer franchise and performance excellence. Emirates NBD was also recognized for Excellence in Internet Banking in acknowledgement of the advances made in providing state-of-the-art features and a frictionless user experience to customers on the portal. In addition the division won the Excellence in Mass Affluent Banking award for its market leading Priority Banking proposition that delivered best in class investment and financial planning solutions. Liv. the lifestyle digital bank for millennials was commended for its Social Media Marketing including for its unique win a...
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Emirates NBD, a leading banking group in region has won top international honours for its leadership in retail banking and digital innovation at the recently held 11th annual Retail Banker International (RBI) Asia Trailblazer Awards 2020.
The bank was named Best Retail Bank in the UAE in recognition of its continued market leadership, strong customer franchise and performance excellence.
Emirates NBD was also recognized for Excellence in Internet Banking in acknowledgement of the advances made in providing state-of-the-art features and a frictionless user experience to customers on the portal.
In addition, the division won the Excellence in Mass Affluent Banking award for its market leading Priority Banking proposition that delivered best in class investment and financial planning solutions.
Liv., the lifestyle digital bank for millennials was commended for its Social Media Marketing, including for its unique ‘win a...
Azizi Developments a leading private developer in the UAE has noted a substantial surge in demand for its retail units across projects in the fourth quarter of 2020 despite the pandemic-induced challenges that the real estate industry has witnessed. The total units sold now stand at 315 with Riviera the French Mediterranean lifestyle project located in the very centre of Dubai registering the highest sales of over 200 retail units across its Phase One and Phase Two. In Al Furjan 36 retail units were sold with the rest of the sales being spread across Avenue Azizi s newly launched MBR City development Creek Views and Aliyah its contemporary projects in Dubai Healthcare City that represent the new benchmark for convenience practicality and modernism and Mina it s luxury project with private beach access on the Palm Jumeirah stated the developer. ...
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Diyar Al Muharraq one of the largest real estate development companies in Bahrain has announced that construction work is in full swing on Souq Al Baraha a leading tourist destination coming up within its integrated city in the kingdom. More than 40% of the project has been completed and is due for official opening at the start of the second quarter of 2021 said the statement from the developer. Souq Al Baraha has a built-up area of 20 242 sq m and covers a total land size of 64 202 sq m; it includes a total leasable space totaling 13 431 sq m and comprises 468 stores and 20 office units. The project aims to provide visitors with an integrated shopping experience complemented by 686 of parking space. Al Moayyed Contracting is the main contractor on the project. So far a substantial percentage of the project s spaces have alrea...
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UAE s leading telecom services operator Etisalat is pushing the boundaries of innovation at the 40th edition of Gitex Technology Week as it takes everyone on a journey of immense possibilities in the future of mobility and retail with the transformative power of 5G and futuristic technologies. This year at Gitex Etisalat is introducing new mobility segments along with 5G connectivity in commercial and regional as well as inter-regional aerial transport. This in line with Etisalat s continuous efforts to boost the Dubai Government s strategy to raise the share of autonomous transport to as much as 25 percent of the total transportation in the emirate by 2030. Saeed Al Zarouni Senior VP Mobile Network Etisalat said: 5G stands out as a game changer with rich potential an evolution that would elevate services performance and enablement. It is in lin...
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Some 94% of retail investors in the UAE were interested in or using ESG (environmental social and governance) in 2020 up from 90% in 2018 says a report by CFA Institute the global association of investment professionals. In a new global research study that examines the state of sustainable investing and how this trend accelerated by the Covid-19 pandemic will shape the investment industry over the next decade CFA says among the findings 85% of CFA Institute members surveyed now say that they take E S and/or G factors into account when investing up from 73% just three years ago. This growth has been driven by client demand with 69% of retail investors and 76% of institutional investors having interest in ESG investing. The survey revealed that 74% of UAE investors with a values objective would be willing to give up some return in exchange f...
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The third quarter of 2020 saw a partial recovery of world trade in manufactured goods led by electronics textiles and automotive products as production resumed and lockdown measures were eased in major economies according to new statistics released by the World Trade Organisation (WTO). However despite substantial improvement in recent months merchandise trade is still well below 2019 levels and preliminary estimates suggest services trade remains severely depressed. Trade in manufactured goods was down 5% year-on-year in the quarter from July to September much closer to pre-pandemic trade levels than the second quarter s 19% shortfall. Computers and electronic components saw double-digit trade growth as did shipments of textiles which were boosted by demand for face masks. Trade in automotive products representing 11% of manufactured goods trade worldwide accelerated in the third quarter as manufacturers ramped up produ...
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The third quarter of 2020 saw a partial recovery of world trade in manufactured goods, led by electronics, textiles and automotive products, as production resumed and lockdown measures were eased in major economies, according to new statistics released by the World Trade Organisation (WTO).
However, despite substantial improvement in recent months, merchandise trade is still well below 2019 levels, and preliminary estimates suggest services trade remains severely depressed.
Trade in manufactured goods was down 5% year-on-year in the quarter from July to September, much closer to pre-pandemic trade levels than the second quarter's 19% shortfall. Computers and electronic components saw double-digit trade growth, as did shipments of textiles, which were boosted by demand for face masks.
Trade in automotive products, representing 11% of manufactured goods trade worldwide, accelerated in the third quarter as manufacturers ramped up produ...
dnata one of the world s leading air services providers has further enhanced its global operations by launching a dedicated inflight retail centre of excellence. The new specialist retail unit will deliver tailor-made on-board retail programmes and innovative solutions for airline customers supporting them to maximise on-board ancillary revenue and enhance passenger satisfaction. The addition of a retail-focused unit to its organisation cements dnata s credentials as a truly end-to-end inflight and airport service provider. The move will align global technology innovation strategy and planning supporting dnata s existing retail programmes and ensuring world-class delivery. dnata will provide airline customers with a comprehensive suite of off-the-shelf services from product development digitalised sales channels and technological solutions through to cabin crew engagement product design and accounting. b...
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dnata, one of the world’s leading air services providers, has further enhanced its global operations by launching a dedicated inflight retail centre of excellence.
The new specialist retail unit will deliver tailor-made on-board retail programmes and innovative solutions for airline customers, supporting them to maximise on-board ancillary revenue and enhance passenger satisfaction. The addition of a retail-focused unit to its organisation cements dnata’s credentials as a truly end-to-end inflight and airport service provider.
The move will align global technology, innovation, strategy and planning, supporting dnata’s existing retail programmes and ensuring world-class delivery. dnata will provide airline customers with a comprehensive suite of ‘off-the-shelf’ services from product development, digitalised sales channels and technological solutions through to cabin crew engagement, product design and accounting.
Marakez one of the largest mixed-use developers in Egypt and a subsidiary of leading Saudi retailer Fawaz AlHokair Group has announced the opening of its new 64 000-sq-m retail destination - Town Center. Located at the busy intersection of the Ring Road Ismailia-Cairo Road and in close proximity to the new Adly Mansour metro station and Salam Bus Station the key neighborhood centre has more than 25 000 sq m of gross leasable aream stated Marakez which started work on the E 260 million ( 16.6 million) project in August last year. The Town Center which boasts a variety of retail outlets for fashion cosmetics electronics home accessories and appliances anchored by Carrefour Mostafa El Sallab LC Waikiki Active and several other brands will be catering to more than 2 million people who live and work within the area. Speaking at the launch Marakez CEO Bas...
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Microsoft and Cooler Screens a retail technology provider have announced a multi-year collaboration focused on bringing an immersive digital experience to brick-and-mortar retail environments. Through the collaboration Cooler Screens will work with Microsoft to scale the delivery of its immersive digital media and merchandising platform hosted on Microsoft Azure to retailers and product brands. The companies will also explore additional integration opportunities to deliver enhanced experiences to customers. Cooler Screens retail technology replaces traditional cooler doors with IoT enabled high-resolution smart screens which use sensors both outside and inside of the coolers to track inventory and product placing. The solution uses identity-blind data from consumer interactions combined with external data like weather to deliver more personalized experiences. We are thrilled to collaborate with an indust...
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Microsoft and Cooler Screens, a retail technology provider, have announced a multi-year collaboration focused on bringing an immersive digital experience to brick-and-mortar retail environments.
Through the collaboration, Cooler Screens will work with Microsoft to scale the delivery of its immersive digital media and merchandising platform hosted on Microsoft Azure to retailers and product brands. The companies will also explore additional integration opportunities to deliver enhanced experiences to customers.
Cooler Screens’ retail technology replaces traditional cooler doors with IoT enabled, high-resolution smart screens which use sensors both outside and inside of the coolers to track inventory and product placing. The solution uses “identity-blind” data from consumer interactions, combined with external data like weather to deliver more personalized experiences.
“We are thrilled to collaborate with an indust...
Lootah Real Estate Development one of the region s most prominent real estate developers today (October 28) broke ground on Ewan Retail its new 1 400-sq-m lifestyle retail hub coming up at Ewan Avenue located in Dubai Investment Park (DIP). Lootah Real Estate Development (Lootah) on October 28 has broken ground on Ewan Retail its new lifestyle retail hub in Ewan Avenue located in Dubai Investment Park (DIP). Spanning 2 300 hectares DIP features a vast range of industries including food and beverage construction materials residential and hospitality properties schools hotels several shops and a hospital. It is also strategically situated near areas that significantly see a growth of thriving economic activities such as Dubai Production City Maktoum International Airport and the Jebel Ali Free Zone. The Ewan Retail groundb...
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DMCC a global free zone and Dubai-based Bull&Roo Hospitality and Investments have partnered to set up a new retail and F&B concept set to launch in the second quarter (Q2) 2021 in the heart of the Jumeirah Lakes Towers (JLT) Central Park. DMCC signed a 10-year lease agreement which will entail the delivery of a bespoke three-level community retail and F&B space with Bull&Roo known for pioneering homegrown and socially responsible concepts such as Tom&Serg The Sum Of Us and Common Grounds. DMCC will manage the unique design build and delivery of the retail space whilst Bull&Roo will bring the concept to life through the interiors conceptualisation and retail operations of the space. The partnership for the contemporary retail concept will enhance lifestyle experiences for the community s 100 000 residents and visitors is part of DMCC s plans to enhance the JLT lifestyle reinforcing JLT as v...
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DMCC, a global free zone, and Dubai-based Bull&Roo Hospitality and Investments have partnered to set up a new retail and F&B concept set to launch in the second quarter (Q2) 2021 in the heart of the Jumeirah Lakes Towers (JLT) Central Park.
DMCC signed a 10-year lease agreement which will entail the delivery of a bespoke three-level community retail and F&B space, with Bull&Roo, known for pioneering homegrown and socially responsible concepts such as, Tom&Serg, The Sum Of Us and Common Grounds.
DMCC will manage the unique design, build and delivery of the retail space, whilst Bull&Roo will bring the concept to life through the interiors, conceptualisation and retail operations of the space.
The partnership for the contemporary retail concept, will enhance lifestyle experiences for the community’s 100,000 residents and visitors, is part of DMCC’s plans to enhance the JLT lifestyle, reinforcing JLT as v...
Dubai-based dnata a leading global inflight retailer iFLEAT an airline innovation and technology leader and Thuisbezorgd.nl (part of Just Eat Takeaway.com) a top food delivery provider have launched a revolutionary pre-order inflight retail initiative in The Netherlands. The three companies innovative solution will be gradually introduced in new markets bringing high-end creative meals and snacks to airline passengers around the world. The partnership marks a significant shift in inflight food and beverage supply. Passengers flying from Schiphol Airport can already pre-order meals through the Takeaway app up to one hour before boarding. Customers can choose from a range of fresh salads poke bowls sushi platters and delicious hot meals and have their order delivered to the aircraft prior to departure. Transavia part of the Air France-KLM Group launched the service from Schiphol Airport in September with ...
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Dubai-based dnata, a leading global inflight retailer, iFLEAT, an airline innovation and technology leader, and Thuisbezorgd.nl (part of Just Eat Takeaway.com), a top food delivery provider, have launched a revolutionary pre-order inflight retail initiative in The Netherlands.
The three companies’ innovative solution will be gradually introduced in new markets, bringing high-end, creative meals and snacks to airline passengers around the world. The partnership marks a significant shift in inflight food and beverage supply.
Passengers flying from Schiphol Airport can already pre-order meals through the ‘Takeaway’ app up to one hour before boarding. Customers can choose from a range of fresh salads, poke bowls, sushi platters and delicious hot meals and have their order delivered to the aircraft prior to departure.
Transavia, part of the Air France-KLM Group, launched the service from Schiphol Airport in September, with ...
The retail sector in Cairo gained momentum in the third quarter driven by increased demand from food and beverage tenants for smaller neighbourhoods and community malls with an abundance of outdoor space according to leading property expert JLL. During Q3 2020 many retail lease agreements were reverted to original pre-Covid commitments increasing the rents in primary and secondary malls by 10% and 3% respectively stated JLL in its Q3 Cairo Real Estate Market Performance report. Although new leases are being signed and retailers are proceeding with their expansion plans in specific prime areas the demand for regional and super regional malls still remain subdued. The pandemic has brought with it many implications to the real estate sector with the retail market having been affected the most. Now more than ever it is important for retailers to be able to offer a s...
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Dubai s Roads and Transport Authority (RTA) is offering investment opportunities for renting retail outlets at the metro stations of Route 2020 namely Jebel Ali The Gardens Discovery Gardens Al Furjan Jumeirah Golf Estates Dubai Investment Park and Expo 2020 stations. RTA called on the business community and investors all over the UAE to benefit from this new business prospect generated by the 15-km Route 2020 which serves densely populated areas inhabited by more than 270 thousand individuals. These stations offer 40 retail outlets spanning an area of 15 860 sq ft in addition to five sales kiosks stated Abdul Mohsen Ibrahim Younes CEO of Rail Agency RTA. Metro stations of Route 2020 offer a brilliant investment opportunity for entrepreneurs as they are considered high-attraction spots for shoppers and tourists on the move noted ...
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McLaren Automotive a British manufacturer of luxury high-performance supercars has announced the consolidation of its business operations in Europe Middle East and Africa (EMEA) into a combined region. The new division comprises 20 markets 36 retailers and is projected to constitute around a third of the brand s global sales. The revised structure aims at streamlining business operations exploiting synergies and further enhancing communications between McLaren and its retailers. It follows on from McLaren s recent announcement of the brand s all-new in-house designed developed and innovative lightweight vehicle architecture that will underpin the next generation of McLaren s electrified model line-up. Leading the new region is Brett Soso Managing Director Europe Middle East & Africa who joined McLaren Automotive in August 2018. I am confident that...
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McLaren Automotive, a British manufacturer of luxury, high-performance supercars, has announced the consolidation of its business operations in Europe, Middle East and Africa (EMEA) into a combined region.
The new division comprises 20 markets, 36 retailers and is projected to constitute around a third of the brand’s global sales.
The revised structure aims at streamlining business operations, exploiting synergies, and further enhancing communications between McLaren and its retailers.
It follows on from McLaren’s recent announcement of the brand’s all-new in-house designed, developed and innovative lightweight vehicle architecture that will underpin the next generation of McLaren’s electrified model line-up.
Leading the new region is Brett Soso, Managing Director – Europe, Middle East & Africa, who joined McLaren Automotive in August 2018.
“I am confident that...
Retail Abu Dhabi s Unbox Amazing shopping promotion which ran throughout July and August across the emirate achieved record-breaking sales of more than AED2 billion in3 500 participating stores according to new data released by the Department of Culture and Tourism Abu Dhabi (DCT Abu Dhabi). Equating to weekly spend of AED250 million on eligible Visa cards alone Retail Abu Dhabi s most successful summer promotion to date has negated the impact of Covid-19 to achieve incredible year-on-year increases of31% in total spend and 23% in total transactions. The highly successful collaboration which included 21 malls and more than 3 500 retailers was driven by DCT Abu Dhabi bringing together the Department s dedicated retail platform with the Department of Economic Development Abu Dhabi (DED); Visa the world s digital payments leader; four participating banks including Abu Dhabi Commercial Bank Ab...
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Retail Abu Dhabi’s ‘Unbox Amazing’ shopping promotion, which ran throughout July and August across the emirate, achieved record-breaking sales of more than AED2 billion in3,500 participating stores, according to new data released by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi).
Equating to weekly spend of AED250 million on eligible Visa cards alone, Retail Abu Dhabi’s most successful summer promotion to date has negated the impact of Covid-19 to achieve incredible year-on-year increases of31% in total spend and 23% in total transactions.
The highly successful collaboration, which included 21 malls and more than 3,500 retailers, was driven by DCT Abu Dhabi, bringing together the Department’s dedicated retail platform with the Department of Economic Development – Abu Dhabi (DED); Visa, the world’s digital payments leader; four participating banks including Abu Dhabi Commercial Bank, Ab...
Abu Dhabi s 1.2-billion Reem Mall a major retail leisure and entertainment destination has announced the launch of its game changing aggregated app that will bring the entire mall ecosystem together on a singular platform thus revolutionising the experience for retailers and consumers. It marks a significant milestone in the mall s journey towards becoming the world s first fully enabled offline-to-online technology-powered life and business centre. Underpinning the innovative app is Reem Mall s commitment to engage with a new breed of digitally native buyers who are becoming increasingly aware of the convenience of online shopping said the statement from Reem Mall. As traditional malls rise to the challenge of addressing a seismic increase in online buying behavior the app encompasses innovative and customer-cent...
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Volvo Cars is fundamentally modernising and upgrading the way its customers buy lease subscribe to and service their cars globally as it works towards its ambition to sell 50% of its global volume online by 2025. This was announced by Trading Enterprises the exclusive distributor of Volvo in the UAE and part of the Al-Futtaim Automotive Group. The company has announced its acquisition of Upplands Motor the Stockholm-based dealership (subject to regulatory approvals) and a planned full takeover of the retailer Bra Bil with the aim to merge the two operations with Volvo Bil its own dealership. The merged operation will enable Volvo Cars to pilot a technology-led transformation of its retail operations in its home market. Its strategy is to create a seamless online/offline experience together with its retail partners globally. This merged operation will enable Volvo Ca...
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Global revenues generated with thermoplastic elastomers (TPEs) are expected to increase to almost 21 billion by 2027 according to a new report by Ceresana which has analysed the global market for these innovative materials for the third time. Thermoplastic elastomers are materials that combine the advantages of rubber and plastic. These are elastic pliable and flexible like vulcanised elastomers at room temperature. However when they are heated they can be melted shaped repeatedly and recycled like conventional standard plastics. TPEs can also be easily coloured and they allow combinations of hard and soft components noted the report. TPE Applications Conquer Everyday Life TPEs are used in many areas because they offer versatile properties and are easy to process. The most important application areas are transportation the construction industry industrial products shoes and sporting ...
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The retail industry one of the hardest hit sectors during the Covid-19 pandemic will benefit hugely through the incorporation of Artificial Intelligence. When the crisis hit retailers were not prepared to make the sudden and swift changes for various reasons and had ill-prepared IT environments writes Ranjith Kaippada Director Cloud Box Technologies. Many were not equipped with online and e-Commerce platforms which would be the most appropriate way to conduct business during a lockdown. It was e-Commerce giants and local online platforms that upped their game and utilised the situation to their advantage. Artificial Intelligence (AI) was incorporated into these online platforms which meant understanding behavioural patterns and playing it out accordingly. Going forward AI that will play a vital role in many areas within retail. A...
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UAE-based Azizi Developments has achieved a key milestone with the sale of 30 per cent of its recently released 700 retail units spread across its premium Dubai developments including MBR City Palm Jumeirah Dubai Healthcare City Al Furjan Studio City Sports City and Downtown Jebel Ali. A leading private developer in the UAE Azizi said it had noted a substantial uptick in its retail unit sales especially those made to UAE residents. Having noted a 60% surge in retail sales enquiries in H1 the developer is now seeing this figure grow even further with enquiries having been up over 40% in July compared to June. UAE nationals represent its most substantial customer demographic with 43% of units having been sold to Emiratis followed by Saudi investors (13 per cent) and the rest among over 17 other nationalities including investors carrying passports from the United Kin...
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Capex.com a leading global broker operated by Key Way Markets has become one of the first brokers to receive a retail license from the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA). The move enables Capex.com to expand its value proposition across the Middle East while providing regional investors with a robust and secure online trading platform underpinned by a customer-centered and education-oriented approach. Established in 2016 Capex.com is an award-winning leading global online trading broker bolstered by a commitment to make online trading more accessible and informative for everyone. The global COVID-19 pandemic has resulted in a surge of Do-It-Yourself investors across the globe. Within the UAE and wider GCC region a growing community of retail investors are seeking solutions to actively managing their own portfolios and execute their own trades. Capex.com s launch in the region is ...
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Capex.com, a leading global broker operated by Key Way Markets, has become one of the first brokers to receive a retail license from the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA).
The move enables Capex.com to expand its value proposition across the Middle East while providing regional investors with a robust and secure online trading platform underpinned by a customer-centered and education-oriented approach.
Established in 2016, Capex.com is an award-winning, leading global online trading broker, bolstered by a commitment to make online trading more accessible and informative for everyone. The global COVID-19 pandemic has resulted in a surge of Do-It-Yourself investors across the globe. Within the UAE and wider GCC region a growing community of retail investors are seeking solutions to actively managing their own portfolios and execute their own trades.
Capex.com’s launch in the region is ...
Dubai has launched a compliance programme to certify and recognise hotels and retail establishments F&B outlets and attractions that have implemented all public health protocols for the prevention and management of Covid-19 said a report. The initiative is part of efforts to showcase Dubai as one of the world s safest destinations as it continues to receive tourists following the city s reopening to international visitors on July 7 said a report in WAM . A verification and validation process has been established in collaboration with the Department of Tourism and Commerce Marketing (Dubai Tourism) Department of Economic Development (Dubai Economy) and Dubai Municipality for issuing the DUBAI ASSURED stamp to hotel and retail establishments F&B outlets and tourist attractions that have complied with health and safety guidelines issued in accordance with the preventive ...
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Jebel Ali Free Zone (Jafza) the leading business and logistics hub has recently recorded 10.6% growth in the retail and e-commerce sector with a total trade value of AED37.6 billion despite the sudden challenges facing both regional and global economy. More than 1 000 companies from 96 countries play a pivotal role in Jafza s Retail and General Trading sector with the free zone s unparalleled infrastructure making it the ideal location for companies to set up and operate said a statement. Approximately 39% of these companies are from the Middle East 30% from Asia 15% from Europe 9% from North America 7% from Africa and 1% from Oceania. In total they employ more than 10 000 personnel and operate across combined facilities that is almost 2 million sq m. Although the region has seen a decline in business activity the shift in technology has introduced a n...
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The IPO of Amlak International shares was completed on Sunday (July 5) after finalising the retail subscription tranche with coverage by individuals at a ratio of 26.90x said NCB Capital financial advisor lead manager bookrunner and underwriter for the issue. The total number of retail subscribers was 266 821 subscribing to invest SR1.17 billion at an offer price of SR16 per share. The institutional tranche of the IPO had previously achieved coverage of 4.98x. The successful completion of the offering saw total coverage of 7.67x for the first IPO to take place in the kingdom since severe market disruption at the end of March. For the first time in the local market the IPO roadshow was conducted remotely with investor presentations and meetings all staged on virtual platforms. Abdullah Al Sudairy CEO of Amlak International ...
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NCB Capital financial advisor lead manager bookrunner and underwriter for Amlak International s IPO announced that the retail subscription period for 2 718 000 shares offered for IPO at a price of SR16 ( 3.8) per share will start today (July 2). The subscription period will last for four days including the last day for closing the subscription which is July 5. The receiving agents (Saudi Investment Bank National Commercial Bank Al Rajhi Bank and Bank Al Jazira) will provide the platforms needed by investors within the receiving agents branches and electronic channels to receive subscription requests. The receiving agents platforms will include their websites ATMs and telephone banking services which will allow individual subscribers to participate in the IPO and take advantage of the investment opportunity provided by the listing of Amlak International on the Saudi Stock Exchange (Tadawul). b...
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NCB Capital, financial advisor, lead manager, bookrunner and underwriter for Amlak International’s IPO, announced that the retail subscription period for 2,718,000 shares offered for IPO at a price of SR16 ($3.8) per share will start today (July 2).
The subscription period will last for four days, including the last day for closing the subscription, which is July 5.
The receiving agents (Saudi Investment Bank, National Commercial Bank, Al Rajhi Bank and Bank Al Jazira) will provide the platforms needed by investors within the receiving agents’ branches and electronic channels to receive subscription requests.
The receiving agents’ platforms will include their websites, ATMs and telephone banking services, which will allow individual subscribers to participate in the IPO, and take advantage of the investment opportunity provided by the listing of Amlak International on the Saudi Stock Exchange (Tadawul).
Microsoft Corp recently announced a strategic change in its retail operations including closing Microsoft Store physical locations while its retail team members work remotely and at Microsoft corporate locations. The retail team members will remotely providing sales training and support. Microsoft will continue to invest in its digital storefronts on Microsoft.com and stores in Xbox and Windows reaching more than 1.2 billion people every month in 190 markets. The company will also reimagine spaces that serve all customers including operating Microsoft Experience Centers in London NYC Sydney and Redmond campus locations. The closing of Microsoft Store physical locations will result in a pre-tax charge of approximately 450 million or 0.05 per share to be recorded in the current quarter ending June 30 2020 a company statement said. Our sales have grown online as our product portfolio has evolved to largely digital of...
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Microsoft Corp recently announced a strategic change in its retail operations, including closing Microsoft Store physical locations, while its retail team members work remotely and at Microsoft corporate locations.
The retail team members will remotely providing sales, training, and support. Microsoft will continue to invest in its digital storefronts on Microsoft.com, and stores in Xbox and Windows, reaching more than 1.2 billion people every month in 190 markets.
The company will also reimagine spaces that serve all customers, including operating Microsoft Experience Centers in London, NYC, Sydney, and Redmond campus locations. The closing of Microsoft Store physical locations will result in a pre-tax charge of approximately $450 million, or $0.05 per share, to be recorded in the current quarter ending June 30, 2020, a company statement said.
“Our sales have grown online as our product portfolio has evolved to largely digital of...
Adnoc Distribution the UAE s largest fuel and convenience store retailer has been named the No 1 retail brand in the region in the Forbes Middle East Top 100 Companies 2020. Compiled of the largest and most successful listed companies in the region the validation comprises in-depth research and data from all stock exchanges in Arab countries and analysis of market value sales assets and profits. Adnoc Distribution ranking at number 52 overall is one of 21 UAE companies to be listed with GCC companies accounting for 90% of the total 100. It is an honour to be recognized as the number one retail brand in the region testament to the hard work we do every day to deliver convenient and accessible fuel and convenience retail to customers said Ahmed Al Shamsi Acting CEO Adnoc Distribution. TradeArabia News Service ...
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Adnoc Distribution, the UAE’s largest fuel and convenience store retailer, has been named the No 1 retail brand in the region in the Forbes Middle East Top 100 Companies 2020.
Compiled of the largest and most successful listed companies in the region, the validation comprises in-depth research and data from all stock exchanges in Arab countries, and analysis of market value, sales, assets and profits. Adnoc Distribution, ranking at number 52 overall, is one of 21 UAE companies to be listed, with GCC companies accounting for 90% of the total 100.
“ It is an honour to be recognized as the number one retail brand in the region, testament to the hard work we do every day to deliver convenient and accessible fuel and convenience retail to customers,” said Ahmed Al Shamsi, Acting CEO, Adnoc Distribution. – TradeArabia News Service
The automotive and transport mobility sector across the GCC is set for big changes post-Covid-19 with new business models likely to emerge in the region automotive aftermarket specialists noted at a recently held webinar. Speakers at a webinar hosted by Messe Frankfurt Middle East for Automechanika Dubai on the Impact of Covid-19 on GCC s Automotive Aftermarket said that movement restrictions and other health safety precautions caused by the Covid-19 pandemic have intensified online and e-commerce purchases in the automotive and transport mobility sector across the GCC. With the rise in contactless services as well as a boom in e-commerce new business models are likely to emerge as more companies evolve and further development in this space will have a huge impact in the automotive sector in the region they said. Lockdown measures and changes in customer pr...
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Leading Dubai master developer Nakheel said its retail arm has launched a contactless pick-up service at its retail destinations - Nakheel Mall The Pointe and Ibn Battuta Mall - giving more customers instant access to over 700 retailers and restaurants while social distancing. However supermarkets and pharmacies are excluded from this service. Nakheel Malls pointed out that Call Come Collect was a quick convenient way to buy a wide range of goods takeaway meals and Ramadan treats with no booking or collection fees and an average call-to-collection time of 30 minutes. It operates daily from 12 noon to 9 pm. On its new service Nakheel Malls said the process was very simple - Customers place their order by calling the shop or restaurant directly before collecting their items from a designated drive-through pick-up zone. Once contactless card payment is made a dedi...
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Abu Dhabi Department of Economic Development (ADDED) has issued a circular to owners and managers of licensed commercial industrial and tourism facilities on the preventive health and safety guidelines in the workplace as part of the precautionary measures issued by the National Emergency Crisis and Disaster Management Authority to curb the spread of Covid-19. The circular focused on six main directives related to employees operating at companies preventive measures for the wholesale and retail sales and marketing departments along with other measures for the transport sector financial services construction manufacturing and utilities as well as additional measures for the catering and hospitality sector. It emphasises the extreme necessity to allow only those employees in the age group of 18 to 55 years - with good health conditions and free from all chronic diseases and disabilities - for duty. ...
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The UAE s National Corporation for Tourism & Hotels (NCTH) said that tenants of retail shops and restaurants at its hotels will be exempted from rents for three months according to a media report. The move comes as part of NCTH s support for the country s precautionary and preventive efforts to contain the spread of coronavirus COVID-19 its chief was quoted as saying by state news agency Wam. Sheikh Hamdan bin Mubarak Al Nahyan chairman of NCTH said: At NCTH we support every effort aimed at serving the nation its people and residents and protecting health and safety of the community. All our hotel rooms will be put at the disposal of the call for national duty. ...
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The UAE’s National Corporation for Tourism & Hotels (NCTH) said that tenants of retail shops and restaurants at its hotels will be exempted from rents for three months, according to a media report.
The move comes as part of NCTH’s support for the country's precautionary and preventive efforts to contain the spread of coronavirus, COVID-19, its chief was quoted as saying by state news agency Wam.
Sheikh Hamdan bin Mubarak Al Nahyan, chairman of NCTH, said:'' At NCTH, we support every effort aimed at serving the nation, its people and residents and protecting health and safety of the community. All our hotel rooms will be put at the disposal of the call for national duty.”
Bahrain Real Estate Investment Company (Edamah) the real estate investment arm of the kingdom s sovereign wealth fund has issued a waiver of rent for all its food and beverage (F&B) and retail tenants for March as a goodwill gesture in view of the new Coronavirus (COVID -19) situation. Chief Executive Officer (CEO) of Edamah Amin Alarrayed said: We see it as our duty at Edamah to work alongside our tenants to offer the much-needed support during this difficult time. For this reason and as a gesture of goodwill we are issuing a one-month moratorium on the rents of our F&B and retail tenants to mitigate any business downturn. We will be closely monitoring the situation and want to reassure our tenants that their continued success is of utmost importance to us. As such we will reappraise the situation after this period with the business health of our F&B tenants in mind. Edamah i...
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Saudia Aerospace Engineering Industries (SAEI) a Honeywell certified service centre has completed more than 100 auxiliary power unit (APU) repairs from its Jet Propulsion Center in Jeddah Saudi Arabia. SAEI is the only Honeywell-certified service centre in the Middle East region that provides maintenance repair and overhaul (MRO) services on Honeywell s GTCP 331-500 and 331-350 APU models. With SAEI Boeing B777 and Airbus A330 operations with Honeywell APUs receive MRO services in the Middle East. This means that the operators do not have to leave the region for repairs which helps to eliminate logistical inconvenience reduces downtime saves costs and improves operational efficiency. This capability strongly positions SAEI in achieving the Saudi Vision 2030 part of which aims to localize more than 50 percent of military equipment spending by 2030 and includes covering MRO services for fixed and rotary-wing military aircra...
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Saudia Aerospace Engineering Industries (SAEI), a Honeywell certified service centre, has completed more than 100 auxiliary power unit (APU) repairs from its Jet Propulsion Center in Jeddah, Saudi Arabia.
SAEI is the only Honeywell-certified service centre in the Middle East region that provides maintenance, repair and overhaul (MRO) services on Honeywell’s GTCP 331-500 and 331-350 APU models.
With SAEI, Boeing B777 and Airbus A330 operations with Honeywell APUs receive MRO services in the Middle East. This means that the operators do not have to leave the region for repairs, which helps to eliminate logistical inconvenience, reduces downtime, saves costs and improves operational efficiency.
This capability strongly positions SAEI in achieving the Saudi Vision 2030, part of which aims to localize more than 50 percent of military equipment spending by 2030 and includes covering MRO services for fixed and rotary-wing military aircra...
Abu Dhabi-based retail group Lulu said its real estate arm Line Investments & Property has introduced Laka (For you in arabic) Gift Card that gives customers a wide range of shopping options from regionally and globally renowned brands and products across eight shopping malls in Abu Dhabi and Al Ain. With a validity of six months from date of purchase the Laka 4U gift card is available in Dh50 and Dh100 ( 13.6 and 27.2) denominations at selected outlets said the statement from Lulu. The participating malls include Al Wahda Mall Khalidiyah Mall Mushrif Mall Madinat Shopping Center Al Raha Mall - Abu Dhabi and Mazyad Mall in Abu Dhabi as well as Al Foah Mall and Barrari Outlet Mall in Al Ain it stated. Wajeb Al Khoury the director of Line Investments and Property said: Loyalty and gift cards gives us an indication of what our customers really want and helps us pla...
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Digitization enables SMEs to sell their products on multiple overseas e-commerce websites offering them access to the same customer groups as larger more established players a report said. Digitization also extends to inventory through the Internet of Things (IoT) technology where SMEs can leverage planning tools particularly to manage customer demands and fulfilling shopper expectations when it comes to seeing stock availability added the report by FedEx a global logistics provider. This is one area where SMEs can collaborate with their logistics service provider to boost their e-commerce potential throughout the year especially during the heavy-traffic peak seasons. Logistics service providers can help SMEs to build a solid integrated supply chain that can provide value-added services such as package tracking and to identify technology or process gaps. Adoption of technology by SMEs in their retail operations and process...
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Digitization enables SMEs to sell their products on multiple overseas e-commerce websites, offering them access to the same customer groups as larger more established players, a report said.
Digitization also extends to inventory through the Internet of Things (IoT) technology, where SMEs can leverage planning tools, particularly to manage customer demands and fulfilling shopper expectations when it comes to seeing stock availability, added the report by FedEx, a global logistics provider.
This is one area where SMEs can collaborate with their logistics service provider to boost their e-commerce potential throughout the year, especially during the heavy-traffic peak seasons.
Logistics service providers can help SMEs to build a solid integrated supply chain that can provide value-added services such as package tracking, and to identify technology or process gaps. Adoption of technology by SMEs in their retail operations and process...
Bosch has announced the appointment of Arda Arslan as the Regional Director for Automotive Aftermarket at Robert Bosch Turkey Iran and Middle East. He brings to his role over 15 years of international industry experience gained in markets including Germany UK and Turkey. Commenting on his appointment Aslan said: The region s automotive aftermarket sector is fast evolving with the increased adoption of automated and electric drivetrains. Both the new and used car markets are expected to witness healthy growth with an appetite for the high-quality spare parts and components that Bosch is synonymous with. I look forward to work with the team to ensure that we are able to effectively meet these diverse customer needs. Kıvanç Arman who formerly headed the automotive aftermarket division in the region will take up the role of Vice President Sa...
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The UAE s banking system increased the total value of financial facilitations provided to retail commerce to Dh50.4 billion ( 13.72 billion) during the first nine months of 2019 according to statistics issued by the Central Bank of the UAE. At the end of September 2019 the value of financial facilitations provided to retail commerce grew by 5.4 percent or Dh2.6 billion compared to the end of December 2018 said a Wam news agency report. The activity witnessed by the sector is in line with figures recently published by the National Economic Registry which showed that the number of recent licences issued in 2019 exceeded 40 000. Financing the retail sector accounts for around 32 percent of the total facilitations received by the country s commercial sector from January to September 2019 totalling Dh157 billion. Statistics from the Cent...
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IF YOUR clients are regular visitors of the French Riviera they will certainly be excited at the prospect of a newly opened outlet shopping about an hour s drive away. The recent opening of The Luxury Mall Outlet Sanremo is the perfect excuse to slip into Italy s Liguria region whenever visiting Cannes or Nice. The Mall Luxury Outlets is a renowned Italian company specialised in offering exclusive luxury shopping experiences. The lush green hills of the Tuscan countryside provide a picturesque setting for The Mall Firenze while the Ligurian hills make the backdrop for The Mall Sanremo. The Mall Sanremo rises from the medieval town of Sanremo like a temple of luxury but price-happy retail worship. While some of the stores in the mall are available on the Croisette in Cannes the outlet stores in The Mall Sanremo offer more affordable options from the very same brands. This makes a visit to the mall across the French-Italian border a mu...
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The Mall Luxury Outlets is a renowned Italian company specialised in offering exclusive luxury shopping experiences. The lush, green hills of the Tuscan countryside provide a picturesque setting for The Mall Firenze, while the Ligurian hills make the backdrop for The Mall Sanremo.
The Mall Sanremo rises from the medieval town of Sanremo like a temple of luxury, but price-happy retail worship. While some of the stores in the mall are available on the Croisette in Cannes, the outlet stores in The Mall Sanremo offer more affordable options from the very same brands. This makes a visit to the mall across the French-Italian border a mu...
Dubai-based Lootah Real Estate Development (Lootah) a leading real estate developer has launched its latest retail lifestyle project located near Ewan Residences its property in Dubai Investment Park (DIP). The new leisure area will be composed of several shops and dining options. Its retail shops will be located on the property s two levels with a total size of 1 400 sq m. It will also have several food trucks that will be placed on the opposite side of the road. And will be accessible to all the residents of DIP. Saleh Abdullah Lootah CEO of Lootah Real Estate Development said: We are excited about the Ewan - retail project as it reflects a unique community experience that consumers are seeking for a convenient yet contemporary lifestyle. We are confident that through this retail initiative Lootah will be able to provide shopping and dining options within the community for the growing demand of residents in Dubai Investment ...
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Dubai-based Lootah Real Estate Development (Lootah), a leading real estate developer, has launched its latest retail lifestyle project located near Ewan Residences, its property in Dubai Investment Park (DIP).
The new leisure area will be composed of several shops and dining options. Its retail shops will be located on the property’s two levels—with a total size of 1,400 sq m. It will also have several food trucks that will be placed on the opposite side of the road. And will be accessible to all the residents of DIP.
Saleh Abdullah Lootah, CEO of Lootah Real Estate Development, said: “We are excited about the Ewan - retail project as it reflects a unique community experience that consumers are seeking for a convenient yet contemporary lifestyle. We are confident that through this retail initiative, Lootah will be able to provide shopping and dining options within the community for the growing demand of residents in Dubai Investment ...
AOC a display specialist has appointed Techxhub as its retail distributor for the Middle Eastern markets. Techxhub will be responsible for distributing both AGON and G-Line series of AOC gaming monitors across the region. The Gaming market in the region is on upswing for past years and is expected to follow the growth trajectory in the coming years also. A recent study by Newzoo reveals that the Middle East & Africa games market will reach total revenues of 4.8 billion in 2019 and is expected to reach 6.0billion by 2021. Carol Anne Dias regional sales director Middle East & Africa at AOC said: We are glad join hands with Techxhub as they specialise in gaming industry and our monitors comprehend their range of gaming accessories. Retail market is key to our growth strategy and with this partnership we intend to expand our footprint and maximize our market share in the retail segment across the region. &l...
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AOC, a display specialist has appointed Techxhub as its retail distributor for the Middle Eastern markets. Techxhub will be responsible for distributing both AGON and G-Line series of AOC gaming monitors across the region.
The Gaming market in the region is on upswing for past years and is expected to follow the growth trajectory in the coming years also. A recent study by Newzoo reveals that the Middle East & Africa games market will reach total revenues of $4.8 billion in 2019 and is expected to reach $6.0billion by 2021.
Carol Anne Dias, regional sales director – Middle East & Africa at AOC said: “We are glad join hands with Techxhub, as they specialise in gaming industry and our monitors comprehend their range of gaming accessories. Retail market is key to our growth strategy and with this partnership we intend to expand our footprint and maximize our market share in the retail segment across the region.
&l...
Arabian Automobiles the flagship company of the AW Rostamani Group and the exclusive dealer for Nissan in Dubai Sharjah and the Northern Emirates unveiled its largest Nissan Retail Concept showroom on Sheikh Zayed Road. The showroom will focus on delivering exceptional customer service through a seamless integration of all touchpoints in the customer journey as well as on innovation and bringing new customer experiences thereby consolidating the digital transformation that characterizes every aspect of living today said a statement. Thierry Sabbagh managing director - Nissan Middle East said: Arabian Automobiles Company has been our partner for over 50 years and the opening of the Retail Concept showroom marks a major milestone in our long-standing partnership. This new and innovative retail concept reflects the diversity in customer expectations and aims at improving customer service and ensuring a globall...
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Arabian Automobiles, the flagship company of the AW Rostamani Group and the exclusive dealer for Nissan in Dubai, Sharjah, and the Northern Emirates, unveiled its largest Nissan Retail Concept showroom on Sheikh Zayed Road.
The showroom will focus on delivering exceptional customer service through a seamless integration of all touchpoints in the customer journey as well as on innovation and bringing new customer experiences, thereby consolidating the digital transformation that characterizes every aspect of living today, said a statement.
Thierry Sabbagh, managing director - Nissan Middle East, said: “Arabian Automobiles Company has been our partner for over 50 years, and the opening of the Retail Concept showroom marks a major milestone in our long-standing partnership.”
“This new and innovative retail concept reflects the diversity in customer expectations and aims at improving customer service and ensuring a globall...
Lexus a leading automotive manufacturer has joined the 2019 Design Miami/ fair as the official automotive partner for the second year underlining its passion for design at the ongoing global forum for the most influential collectors designers curators and critics from around the world. The event which opened on December 4 will run until December 8 and is being held at Miami Beach Florida US. Lexus as the brand that created the world s first luxury hybrid in 2005 extended its support to the show s sustainable theme with an all-hybrid fleet that chauffeured the fair s VIP guests. Also new for 2019 Lexus brought the stunning LC Convertible Concept as part of the brand s first commissioned installation for Design Miami/ with an exhibition titled Sunshower. Rounding out its presence at the fair Lexus continued the successful Lexus Art Series: Art and Innovation talks with Whitewall now in its fourth year....
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Lexus, a leading automotive manufacturer, has joined the 2019 Design Miami/ fair as the official automotive partner for the second year, underlining its passion for design at the ongoing global forum for the most influential collectors, designers, curators and critics from around the world.
The event which opened on December 4 will run until December 8, and is being held at Miami Beach, Florida, US.
Lexus, as the brand that created the world’s first luxury hybrid in 2005, extended its support to the show’s sustainable theme with an all-hybrid fleet that chauffeured the fair’s VIP guests.
Also new for 2019, Lexus brought the stunning LC Convertible Concept as part of the brand’s first commissioned installation for Design Miami/ with an exhibition titled Sunshower. Rounding out its presence at the fair, Lexus continued the successful Lexus Art Series: Art and Innovation talks with Whitewall, now in its fourth year....
Abu Dhabi Airports has awarded two retail unit spaces in the upcoming Midfield Terminal Building (MTB) project to the Lulu Group a diverse conglomerate headquartered in Abu Dhabi with a strong retail presence in the UAE the GCC and globally. The Lulu Group reached an agreement with Abu Dhabi Airports to set up a specialist gifting retail space and a dedicated non-food department store encompassing a total of 1 833 sq m area in the MTB at the Abu Dhabi International Airport. Lulu has been added to an exciting line up of brands at the Midfield Terminal which includes 28 000 sq m of retail space for duty free shopping dining relaxing and entertainment catering to the diverse needs of Abu Dhabi International Airport s passengers said the statement from Abu Dhabi Airports. This is a result of Abu Dhabi Airports commitment to developing strategic partnerships with local industry within the UAE ensuring that local products...
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Abu Dhabi Airports has awarded two retail unit spaces in the upcoming Midfield Terminal Building (MTB) project to the Lulu Group, a diverse conglomerate headquartered in Abu Dhabi with a strong retail presence in the UAE, the GCC and globally.
The Lulu Group reached an agreement with Abu Dhabi Airports to set up a specialist gifting retail space and a dedicated non-food department store encompassing a total of 1,833 sq m area in the MTB at the Abu Dhabi International Airport.
Lulu has been added to an exciting line up of brands at the Midfield Terminal, which includes 28,000 sq m of retail space for duty free shopping, dining, relaxing and entertainment, catering to the diverse needs of Abu Dhabi International Airport’s passengers, said the statement from Abu Dhabi Airports.
This is a result of Abu Dhabi Airports’ commitment to developing strategic partnerships with local industry within the UAE, ensuring that local products...
Emirates has reinvented its inflight retail offering by launching EmiratesRED. The new collection offers customers on board not only a wide selection of duty and tax free products but also the ability to purchase unique experiences in Dubai and beyond as well as products from Emirates Official Store. The revamped offering has been welcomed by customers as the airline has seen a 23 per cent increase in sales since its launch a month ago. EmiratesRED TV In what is considered a first for the airline industry Emirates has also introduced a dedicated shopping channel on its award-winning inflight entertainment system ice called EmiratesRED TV. The shopping channel hosted by Andi Peters introduces some of the experts behind the products available to purchase on board. This includes interviews with Roja Dove founder and creator of Roja Parfums; Julien Levy co-founder of Dr. Levy Switzerland; and David Crisp CEO of B...
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Emirates has reinvented its inflight retail offering by launching EmiratesRED. The new collection offers customers on board not only a wide selection of duty and tax free products, but also the ability to purchase unique experiences in Dubai and beyond, as well as products from Emirates Official Store.
The revamped offering has been welcomed by customers as the airline has seen a 23 per cent increase in sales since its launch a month ago.
EmiratesRED TV
In what is considered a first for the airline industry, Emirates has also introduced a dedicated shopping channel on its award-winning inflight entertainment system, ice, called EmiratesRED TV. The shopping channel, hosted by Andi Peters, introduces some of the experts behind the products available to purchase on board. This includes interviews with Roja Dove, founder and creator of Roja Parfums; Julien Levy, co-founder of Dr. Levy Switzerland; and David Crisp, CEO of B...
Leading Dubai developer Nakheel has officially opened its new retail complex and multi-storey car park at Dragon City following the revamp work thus adding new shops better access and more convenience to customers. The Dh169 million ( 46 million) expansion work was carried out to mainly meet the growing customer demand at Dragon Mart where more than 1 700 Chinese tradesmen and women operate 5 000 shops restaurants and entertainment outlets. The four-level complex has now around 150 shops and kiosks across 118 000 sq ft of ground floor retail space with 900 parking bays above. Nakheel Chairman Ali Rashid Lootah said the opening of the new retail complex at Dragon City is aimed at bringing a more diverse range of shops quicker access and greater convenience to the 40 million people who visit each year. Sun Tour one of Dragon Mart s biggest and longest-standing tenants is occupying the...
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Leading Dubai developer Nakheel has officially opened its new retail complex and multi-storey car park at Dragon City following the revamp work thus adding new shops, better access and more convenience to customers.
The Dh169 million ($46 million) expansion work was carried out to mainly meet the growing customer demand at Dragon Mart, where more than 1,700 Chinese tradesmen and women operate 5,000 shops, restaurants and entertainment outlets.
The four-level complex has now around 150 shops and kiosks across 118,000 sq ft of ground floor retail space, with 900 parking bays above.
Nakheel Chairman Ali Rashid Lootah said the opening of the new retail complex at Dragon City is aimed at bringing a more diverse range of shops, quicker access and greater convenience to the 40 million people who visit each year.
Sun Tour, one of Dragon Mart’s biggest and longest-standing tenants, is occupying the...
Sabre Corporation a leading technology provider at the centre of the business of travel has acquired Radixx a leading airline retailing software provider with an established presence in the low cost carrier (LCC) space for 110 million including payments to debtholders using cash on hand. LCCs have grown twice as fast as full-service carriers over the past five years and now total nearly 30 per cent of global passengers boarded annually. Sabre expects the acquisition to help the company offer retailing distribution and fulfillment capabilities to serve this rapidly expanding market. Radixx s signature products are a best-in-class LCC passenger service system (PSS) and internet booking engine (IBE). Radixx is expected to generate approximately 20 million of revenue in 2019. Started in 1993 Orlando-based Radixx was built to leverage the technology industry s rapid advances with a focus on cloud-based ai...
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Sabre Corporation, a leading technology provider at the centre of the business of travel, has acquired Radixx, a leading airline retailing software provider with an established presence in the low cost carrier (LCC) space, for $110 million, including payments to debtholders, using cash on hand.
LCCs have grown twice as fast as full-service carriers over the past five years and now total nearly 30 per cent of global passengers boarded annually.
Sabre expects the acquisition to help the company offer retailing, distribution and fulfillment capabilities to serve this rapidly expanding market. Radixx’s signature products are a best-in-class LCC passenger service system (PSS) and internet booking engine (IBE).
Radixx is expected to generate approximately $20 million of revenue in 2019.
Started in 1993, Orlando-based Radixx was built to leverage the technology industry’s rapid advances with a focus on cloud-based ai...
Sabic a global petrochemicals leader has launched Xenoy HTX resin a polyester-based high-heat technology that can enable the production of light impact resistant and high performing structural automotive applications at K Fair 2019 in Germany. Xenoy HTX resin is especially relevant for today s automakers which need new polymer solutions for the production of structural components capable of withstanding higher temperatures including those of e-coating lines operating above 180C. Relevant applications include body-in-white components structural reinforcements and battery protection systems for electric vehicles (EVs). Xenoy HTX resin is available in unfilled and glass-filled grades and offers significant weight savings compared to steel and aluminium. The new family of thermoplastic materials from Sabic also provides a drop-in alternative for polyamide 6.6 (PA66) compounds and alloys which has recently seen frequent supply shortages and p...
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Sabic, a global petrochemicals leader has launched Xenoy HTX resin, a polyester-based, high-heat technology that can enable the production of light, impact resistant and high performing structural automotive applications at K Fair 2019 in Germany.
Xenoy HTX resin is especially relevant for today’s automakers, which need new polymer solutions for the production of structural components capable of withstanding higher temperatures, including those of e-coating lines operating above 180C. Relevant applications include body-in-white components, structural reinforcements and battery protection systems for electric vehicles (EVs).
Xenoy HTX resin is available in unfilled and glass-filled grades and offers significant weight savings compared to steel and aluminium. The new family of thermoplastic materials from Sabic also provides a drop-in alternative for polyamide 6.6 (PA66) compounds and alloys, which has recently seen frequent supply shortages and p...
The Emirates Institute for Banking and Financial Studies (EIBFS) and the Recognized National Development Committee (RNDC) have launched first National Qualification Level 5 Award in Certified Retail Banker (CRB). The Emirates Institute for Banking and Financial Studies (EIBFS) and the Recognized National Development Committee (RNDC) a subcommittee comprising representatives of leading banks in the UAE have launched first National Qualification Level 5 Award in Certified Retail Banker (CRB). This was announced at a meeting attended by RNDC representatives that comprises representatives of leading local and international banks in the UAE including RAK Bank Emirates NBD Union National Bank Sharjah Islamic Bank Commercial Bank of Dubai Citi Bank Standard Chartered and ADIB. This award aims to provide knowledge skills and competencies required for retail banking professionals to deliver effective sales and operations services to th...
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The Emirates Institute for Banking and Financial Studies (EIBFS) and the Recognized National Development Committee (RNDC) have launched first National Qualification Level 5 Award in Certified Retail Banker (CRB).
The Emirates Institute for Banking and Financial Studies (EIBFS) and the Recognized National Development Committee (RNDC), a subcommittee comprising representatives of leading banks in the UAE, have launched first National Qualification Level 5 Award in Certified Retail Banker (CRB).
This was announced at a meeting attended by RNDC representatives that comprises representatives of leading local and international banks in the UAE, including RAK Bank, Emirates NBD, Union National Bank, Sharjah Islamic Bank, Commercial Bank of Dubai, Citi Bank, Standard Chartered and ADIB.
This award aims to provide knowledge, skills and competencies required for retail banking professionals to deliver effective sales and operations services to th...
Premium Japanese watch manufacturer Citizen has announced plans to open several retail outlets across the UAE as part of its regional expansion strategy. The group recently opened its new kiosk at Sharjah s Sahara Centre. The exclusive boutique will offer a comprehensive range of models including Citizen Eco-Drive Promaster Satellite Wave GPS and Citizen L for ladies among various other affordable price range collections said a statement. The decision to open a kiosk in the bustling and vibrant Sahara Centre located on the Dubai-Sharjah highway is in line with the brand s expansion strategy to establish a strong visual presence within the retail environment. Its aim is to cater to the evolving preferences and shopping behaviours of modern customers. In addition to the traditional bricks-and-mortar concept Citizen also b...
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Dubai s retail sector is undergoing a major transformation with the rise of e-commerce and evolving customer preferences shaping a new retail logistics industry said professional services firm JLL in a new report. A wave of innovative new real estate solutions in the logistics sector are creating alternative investment opportunities added JLL s new report titled Redefining Retail Logistics the Dubai Experience launched at Cityscape Global 2019 a major real estate event. As a global leader in both retail and logistics Dubai is well placed to leverage the retail industry s rapidly changing dynamics including rising e-commerce new disruptive technologies and evolving consumer tastes. To take full advantage of these trends retailers are addressing the challenge of fulfilling increasing demand for online delivery while balancing an oversupply of traditional retail space. The a...
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Dubai’s retail sector is undergoing a major transformation with the rise of e-commerce and evolving customer preferences shaping a new ‘retail logistics’ industry, said professional services firm JLL in a new report.
A wave of innovative new real estate solutions in the logistics sector are creating alternative investment opportunities, added JLL’s new report titled ‘Redefining Retail Logistics – the Dubai Experience’ launched at Cityscape Global 2019, a major real estate event.
As a global leader in both retail and logistics, Dubai is well placed to leverage the retail industry’s rapidly changing dynamics including rising e-commerce, new disruptive technologies and evolving consumer tastes.
To take full advantage of these trends, retailers are addressing the challenge of fulfilling increasing demand for online delivery while balancing an oversupply of traditional retail space. The a...
Central Trading Company the authorised distributor of Michelin within Dubai and Northern Emirates has signed an agreement with AutoPro to sell Michelin tyres across its stores in Dubai and Northern Emirates. This cooperation includes supply of Michelin branded tyres with Emirates Authority for Standardisation and Metrology (Esma) required RFID tags to the vast network of AutoPro service centres located in Dubai and Sharjah said a statement. Naser Shashaa regional director Michelin Middle East said: We are constantly looking at expanding our presence in the markets we operate and facilitate the access to Michelin Tyres one of the world s most renowned brands. AutoPro is a trusted name for professional automotive services and we are therefore very excited with this partnership. In addition to existing Michelin point of sales our customers in the emirates will now have convenient access to our prod...
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Central Trading Company, the authorised distributor of Michelin within Dubai and Northern Emirates, has signed an agreement with AutoPro to sell Michelin tyres across its stores in Dubai and Northern Emirates.
This cooperation includes supply of Michelin branded tyres, with Emirates Authority for Standardisation and Metrology (Esma) required RFID tags to the vast network of AutoPro service centres located in Dubai and Sharjah, said a statement.
Naser Shashaa, regional director, Michelin Middle East, said: “We are constantly looking at expanding our presence in the markets we operate and facilitate the access to Michelin Tyres, one of the world’s most renowned brands.”
“AutoPro is a trusted name for professional automotive services and we are therefore very excited with this partnership. In addition to existing Michelin point of sales, our customers in the emirates will now have convenient access to our prod...
As in other markets the main risk of technological disruption for retail banks in the GCC is changes in customer preference said S&P Global Ratings in a new report. This is the conclusion we drew from our four-factor analysis of a banking system s technology regulation industry and preferences (TRIP) which we are incorporating in our ratings on banks in the region said Mohamed Damak S&P Global Ratings credit analyst commenting on the report titled Tech Disruption In Retail Banking: GCC Banks Are Catching Up As Clients Become More Demanding published on RatingsDirect. Regulatory risk is low because policymakers are conscious of the extreme importance of local banking systems in the region and the need to keep them safe from potentially disruptive unregulated competition. Technology and industry structure present a moderate risk of disruption he added. The digitalization ...
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As in other markets, the main risk of technological disruption for retail banks in the GCC is changes in customer preference, said S&P Global Ratings in a new report.
"This is the conclusion we drew from our four-factor analysis of a banking system's technology, regulation, industry, and preferences (TRIP), which we are incorporating in our ratings on banks in the region,” said Mohamed Damak, S&P Global Ratings credit analyst, commenting on the report titled "Tech Disruption In Retail Banking: GCC Banks Are Catching Up As Clients Become More Demanding" published on RatingsDirect.
“Regulatory risk is low because policymakers are conscious of the extreme importance of local banking systems in the region, and the need to keep them safe from potentially disruptive unregulated competition. Technology and industry structure present a moderate risk of disruption," he added.
“The digitalization ...
The enterprise and automotive Internet of Things (IoT) market will grow to 5.8 billion endpoints in 2020 a 21 per cent increase from 2019 according to a forecast by Gartner a leading research and advisory company. By the end of 2019 4.8 billion endpoints are expected to be in use up 21.5 per cent from 2018 said a statement. Utilities will be the highest user of IoT endpoints totalling 1.17 billion endpoints in 2019 and increasing 17 per cent in 2020 to reach 1.37 billion endpoints. Peter Middleton senior research director at Gartner said: Electricity smart metering both residential and commercial will boost the adoption of IoT among utilities. Physical security where building intruder detection and indoor surveillance use cases will drive volume will be the second largest user of IoT endpoints in 2020 he said. Building automation driven by connected lig...
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The enterprise and automotive Internet of Things (IoT) market will grow to 5.8 billion endpoints in 2020, a 21 per cent increase from 2019, according to a forecast by Gartner, a leading research and advisory company.
By the end of 2019, 4.8 billion endpoints are expected to be in use, up 21.5 per cent from 2018, said a statement.
Utilities will be the highest user of IoT endpoints, totalling 1.17 billion endpoints in 2019, and increasing 17 per cent in 2020 to reach 1.37 billion endpoints.
Peter Middleton, senior research director at Gartner, said: “Electricity smart metering, both residential and commercial will boost the adoption of IoT among utilities.”
“Physical security, where building intruder detection and indoor surveillance use cases will drive volume, will be the second largest user of IoT endpoints in 2020,” he said.
Building automation, driven by connected lig...
The Indian government is preparing to reform domestic fuel marketing in India opening up this lucrative sector to foreign oil companies especially those in the Gulf according to the Emirati news agency Wam . To set this process in motion the Ministry of Petroleum and Natural Gas has prepared a cabinet note which will end rules that essentially restricted fuel distribution in India to domestic oil companies. Most of them are state-run energy enterprises said the report. The note which Wam has seen follows recommendations by a committee formed in March to reform India s huge domestic fuel distribution system. The process is part of Modi government s efforts to introduce the next wave of economic reforms in the country following its new mandate in elections held earlier this year. The committee which submitted its report in May argued that the net...
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The global automotive fuel injection systems market accounted for 61.61 billion in 2017 and is expected to reach 115.10 billion by 2026 growing at a compound annual growth rate (CAGR) of 7.2 per cent according to a report by Stratistics MRC a market research firm. Factors such as growing demand of automobile industry among emerging countries and rise in advancements in fuel injection system are driving the market growth said the report. However increase in the government stringent emission norms and its regulatory framework is hampering the growth of the market. The fuel injection system delivers fuel or a fuel-air mixture to the cylinders by means of pressure from a pump. All diesel engine based automotive vehicles must use fuel injection by design because of diesel s greater viscosity and the need to overcome the high pressure of the compressed air in the cylinders. Gasoline engines can use either a carbureto...
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The global automotive fuel injection systems market accounted for $61.61 billion in 2017 and is expected to reach $115.10 billion by 2026, growing at a compound annual growth rate (CAGR) of 7.2 per cent, according to a report by Stratistics MRC, a market research firm.
Factors such as growing demand of automobile industry among emerging countries and rise in advancements in fuel injection system are driving the market growth, said the report.
However, increase in the government stringent emission norms and its regulatory framework is hampering the growth of the market.
The fuel injection system delivers fuel or a fuel-air mixture to the cylinders by means of pressure from a pump. All diesel engine based automotive vehicles must use fuel injection by design because of diesel's greater viscosity and the need to overcome the high pressure of the compressed air in the cylinders.
Gasoline engines can use either a carbureto...
Azizi Developments a leading real estate company in the UAE has added retail units to its portfolio with the launch of sale of 329 retail units across all of its Dubai developments. Through Azizi Retail Azizi Developments division for outlets the retail spaces are embedded into its master-planned communities and residential towers adding leisure shopping and eatery amenities and creating a bustling social space with a strong potential for business profitability. Farhad Azizi CEO of Azizi Developments said: Retail spaces enhance our communities and are a lucrative investment that our research attributes to growing investor interest in strategically placed brick-and-mortar outlets. It is a mutually beneficial integration whereby our residents benefit from lifestyle-enhancing leisure and convenience options while commercial entities have a bustling environment to conduct prosperous businesses in. Azizi Develop...
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Azizi Developments, a leading real estate company in the UAE, has added retail units to its portfolio with the launch of sale of 329 retail units across all of its Dubai developments.
Through Azizi Retail, Azizi Developments’ division for outlets, the retail spaces are embedded into its master-planned communities and residential towers, adding leisure, shopping and eatery amenities and creating a bustling social space with a strong potential for business profitability.
Farhad Azizi, CEO of Azizi Developments, said: “Retail spaces enhance our communities and are a lucrative investment that our research attributes to growing investor interest in strategically placed brick-and-mortar outlets. It is a mutually beneficial integration whereby our residents benefit from lifestyle-enhancing leisure and convenience options, while commercial entities have a bustling environment to conduct prosperous businesses in.”
Azizi Develop...
Almosafer a leading travel brand in Saudi Arabia has revealed that it will open 25 new retail branches by the end of this year as part of its commitment to revolutionize the travel booking experience in the kingdom. With its new omnichannel approach Almosafer is taking its digital knowledge into interactive physical spaces and adding the human element to give customers the choice and freedom to book their travel exactly in the manner they want. To equip its retail team with the expertise they need to help Saudi s with their travel plans Almosafer has created a specialised recruitment process focused on attracting Saudi s multi-talented youth and shaping a new generation of male and female travel advisors. Almosafer Academy will develop and certify travel advisors through an intensive 10-week recruitment training programme which will equip the workforce with the skills they need to become the new generation of speci...
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Almosafer, a leading travel brand in Saudi Arabia, has revealed that it will open 25 new retail branches by the end of this year as part of its commitment to revolutionize the travel booking experience in the kingdom.
With its new omnichannel approach, Almosafer is taking its digital knowledge into interactive physical spaces and adding the human element to give customers the choice and freedom to book their travel exactly in the manner they want.
To equip its retail team with the expertise they need to help Saudi’s with their travel plans, Almosafer has created a specialised recruitment process focused on attracting Saudi’s multi-talented youth and shaping a new generation of male and female travel advisors.
Almosafer Academy will develop and certify travel advisors through an intensive 10-week recruitment training programme which will equip the workforce with the skills they need to become the new generation of speci...
Saudi Arabia s Ma aden Aluminium has signed up top European software solutions supplier 8Sigma to help digitise its automotive sheet plant. This cooperation is a part of Ma aden Aluminium s plan which includes a multi-million-dollar investment for a complete digitalization of the production processes in the rolling mill that produces aluminium coils for the automotive industry. The cooperation agreement that was signed recently refers to the first phase of the implementation of 8Sigma MES solution in the factory in Ras Al Khair Industrial City and will be completed and put into operation during 2020. Following Ma aden Aluminium business strategy the management of this largest aluminum producer in the Middle East decided to digitise the plant by implementing software solution Manufacturing Execution System (MES). As a supplier of high quality primary and rolled product solutions Ma aden Al...
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Saudi Arabia's Ma'aden Aluminium has signed up top European software solutions supplier 8Sigma to help digitise its automotive sheet plant.
This cooperation is a part of Ma’aden Aluminium’s plan which includes a multi-million-dollar investment for a complete digitalization of the production processes in the rolling mill that produces aluminium coils for the automotive industry.
The cooperation agreement that was signed recently refers to the first phase of the implementation of 8Sigma MES solution in the factory in Ras Al Khair Industrial City and will be completed and put into operation during 2020.
Following Ma’aden Aluminium business strategy, the management of this largest aluminum producer in the Middle East decided to digitise the plant by implementing software solution Manufacturing Execution System (MES).
As a supplier of high quality primary and rolled product solutions, Ma’aden Al...
The National Bank of Bahrain (NBB) has appointed Subah Abdullatif Al Zayani as head of retail banking. Al Zayani will now lead NBB s ongoing efforts to innovate its retail operations in order to gain more market share and further elevate the customer journey and enhance the delivery of market-leading financial products and services across its digital platforms and branch network which remains the largest in Bahrain. Al Zayani brings to NBB more than 12 years of retail banking experience having held a number of senior positions at some of Bahrain s largest local and regional banks. Most recently he served as deputy head of retail banking at Kuwait Finance House-Bahrain. Commenting on the appointment Jean-Christophe Durand CEO of NBB said: We are delighted to welcome Subah Al Zayani to the NBB family. A key pillar of our transformation lies in continuing to enhance grow and differentiate our retail offering and th...
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The National Bank of Bahrain (NBB) has appointed Subah Abdullatif Al Zayani as head of retail banking.
Al Zayani will now lead NBB’s ongoing efforts to innovate its retail operations in order to gain more market share and further elevate the customer journey and enhance the delivery of market-leading financial products and services across its digital platforms and branch network, which remains the largest in Bahrain.
Al Zayani brings to NBB more than 12 years of retail banking experience, having held a number of senior positions at some of Bahrain’s largest local and regional banks. Most recently, he served as deputy head of retail banking at Kuwait Finance House-Bahrain.
Commenting on the appointment, Jean-Christophe Durand, CEO of NBB, said: "We are delighted to welcome Subah Al Zayani to the NBB family. A key pillar of our transformation lies in continuing to enhance, grow and differentiate our retail offering and th...
First Bahrain Real Estate Development Company said it has appointed Alghanah Group for the construction of its upcoming retail project in Seef area of the kingdom. Building on the success of El Mercado First Bahrain s mixed-use retail and residential project the company is now activating its holdings in Seef area with another open-air commercial project. The new development is the first phase of a project which will feature over 79 000 sq ft of premium retail space built on 114 000 sq ft of land just across the street from the City Centre Mall said the statement from First Bahrain. Designed to serve the surrounding residential area the site will feature a mix of cafes restaurants entertainment and retail shops that will offer a unique experience through a mix of drive up and drive thru outlets featuring terraced views and outdoor seating it stated. Annoucing the awarding of the contract CEO Omar Altemiemy ...
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First Bahrain Real Estate Development Company said it has appointed Alghanah Group for the construction of its upcoming retail project in Seef area of the kingdom.
Building on the success of El Mercado, First Bahrain’s mixed-use retail and residential project, the company is now activating its holdings in Seef area with another open-air commercial project.
The new development is the first phase of a project which will feature over 79,000 sq ft of premium retail space, built on 114,000 sq ft of land just across the street from the City Centre Mall, said the statement from First Bahrain.
Designed to serve the surrounding residential area, the site will feature a mix of cafes, restaurants, entertainment, and retail shops that will offer a unique experience through a mix of drive up and drive thru outlets featuring terraced views and outdoor seating, it stated.
Annoucing the awarding of the contract, CEO Omar Altemiemy ...
IT s no secret that shopping is one of the key activities and motivations for the outbound Middle East traveller and retail destinations especially in Europe are keen to get a share of this market. This summer and Eid Al Adha present your clients with retail ideas that will be a hit for the whole family not just the shopping addicts. BICESTER VILLAGE SHOPPING COLLECTION The Bicester Village Shopping Collection comprises 11 destinations across Western Europe and China: London Paris Shanghai Milan Barcelona Madrid Brussels Antwerp Cologne Düsseldorf Munich Frankfurt and Suzhou. The Collection by Value Retail is unique in its unprecedented brand mix beautiful settings cultural richness remarkable service and savings on the recommended retail price of up to 60 per cent. Each Village plays host to the world&rs...
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This summer and Eid Al Adha, present your clients with retail ideas that will be a hit for the whole family, not just the shopping addicts.
BICESTER VILLAGE SHOPPING COLLECTION
The Bicester Village Shopping Collection comprises 11 destinations across Western Europe and China: London, Paris, Shanghai, Milan, Barcelona, Madrid, Brussels, Antwerp, Cologne, Düsseldorf, Munich, Frankfurt, and Suzhou.
The Collection, by Value Retail, is unique in its unprecedented brand mix, beautiful settings, cultural richness, remarkable service and savings on the recommended retail price of up to 60 per cent. Each Village plays host to the world&rs...
Germany-based group Diesel Technic (ME) aims to capitalise on the booming automotive sector in Dubai said a top official citing official data. Dubai s automotive sector is poised for growth and is expected to increase by 35 per cent between 2017 and 2021 due to the spare parts and accessories market according to the Dubai Chamber of Commerce and Industry. A key player in the automotive sector Diesel Technic (ME) has 41 000 products covering the full range of automotive parts and accessories and has been a leading player in the GCC s automotive and spare parts and accessories sector since 1995. We see tremendous potential for the UAE s automotive sector and we intend on leveraging the strong trade ecosystem DP World has created with Jebel Ali Port and Jafza to enhance our access to markets across the region remarked Dirk Heibel the general manager. We also intend on working close...
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Germany-based group Diesel Technic (ME) aims to capitalise on the booming automotive sector in Dubai, said a top official, citing official data.
Dubai’s automotive sector is poised for growth and is expected to increase by 35 per cent between 2017 and 2021 due to the spare parts and accessories market, according to the Dubai Chamber of Commerce and Industry.
A key player in the automotive sector, Diesel Technic (ME) has 41,000 products covering the full range of automotive parts and accessories and has been a leading player in the GCC’s automotive and spare parts and accessories sector since 1995.
"We see tremendous potential for the UAE’s automotive sector, and we intend on leveraging the strong trade ecosystem DP World has created with Jebel Ali Port and Jafza to enhance our access to markets across the region," remarked Dirk Heibel, the general manager.
“We also intend on working close...
Digitalization is already transforming retail banking said S&P Global Ratings (S&P) in a new report highlighting that the opportunities and threats for banks from tech disruption relate to the state of technology regulation the banking industry s readiness and customer preferences. S&P believes today s traditional banks have no other option than to digitize their business models. If they execute that well they can better defend and potentially expand their franchises and possibly offer new products or services. If not their market positions and profitability could shrink. Digital solutions will not only allow banks to attract more clients and open up new revenue channels but also become more efficient all keys to succeeding in tomorrow s digital environment. Such considerations form part of its assessment of banks business positions. In S&P s view the increased transparency and further c...
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Digitalization is already transforming retail banking, said S&P Global Ratings (S&P) in a new report, highlighting that the opportunities and threats for banks from tech disruption relate to the state of technology, regulation, the banking industry's readiness, and customer preferences.
S&P believes today's traditional banks have no other option than to digitize their business models. If they execute that well, they can better defend and potentially expand their franchises, and possibly offer new products or services. If not, their market positions and profitability could shrink.
Digital solutions will not only allow banks to attract more clients and open up new revenue channels, but also become more efficient, all keys to succeeding in tomorrow's digital environment. Such considerations form part of its assessment of banks' business positions.
In S&P’s view, the increased transparency and further c...
One technology that is touted to disrupt retail is the Internet of Things (IoT) which if it is used in the right way can build a competitive differentiation said an industry expert. Retail sales in the Middle East is booming. Customers are getting smarter about their shopping choices and their expectations of the retail experience are accelerating quickly. Non-store retailing which includes online shopping direct selling mobile internet social media and home shopping is expected to increase at a rapid pace meaning high streets are taking the hit and it s going to take something special to get shoppers back into stores. Technology can certainly help in enticing customers into stores and plugging the growth gaps retailers are suffering. One technology that is touted to disrupt retail is the Internet of Things (IoT) which if it is used in the right way can build a competitive differentiation. According to Aruba research early adopter...
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One technology that is touted to disrupt retail is the Internet of Things (IoT), which, if it is used in the right way, can build a competitive differentiation, said an industry expert.
Retail sales in the Middle East is booming. Customers are getting smarter about their shopping choices and their expectations of the retail experience are accelerating quickly. Non-store retailing, which includes online shopping, direct selling, mobile internet, social media and home shopping, is expected to increase at a rapid pace, meaning high streets are taking the hit, and it’s going to take something special to get shoppers back into stores.
Technology can certainly help in enticing customers into stores and plugging the growth gaps retailers are suffering. One technology that is touted to disrupt retail is the Internet of Things (IoT), which, if it is used in the right way, can build a competitive differentiation. According to Aruba research, early adopter...
In business as in love trust is everything. With consumers anticipating online companies to provide quality products beyond advertised timeframes there is a greater need for quality products and discounts which are applicable all year round to foster good and long consumer relationships. In a scenario where consumers are increasingly purchasing online thanks to convenience 24/7 storefronts and a wider product selection trust assumes more importance than ever. In this current set of things Shopinc.com has emerged as a key online player in the UAE market that believes in fostering long term relationship with consumers by offering quality products and discounts which are applicable all year round. Over the next three years e-commerce sales are likely to nearly double with the Middle East e-commerce market projected to be worth Dh179 billion ( 48.6 billion) in 2022 up from Dh98.8 ( 26.9 billion) in 2018 according to a report by Fitch Solutions...
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In business as in love, trust is everything. With consumers anticipating online companies to provide quality products beyond advertised timeframes, there is a greater need for quality products and discounts, which are applicable all year round to foster good and long consumer relationships.
In a scenario where consumers are increasingly purchasing online, thanks to convenience, 24/7 storefronts and a wider product selection, trust assumes more importance than ever. In this current set of things, Shopinc.com has emerged as a key online player in the UAE market that believes in fostering long term relationship with consumers by offering quality products and discounts, which are applicable all year round.
Over the next three years, e-commerce sales are likely to nearly double, with the Middle East e-commerce market projected to be worth Dh179 billion ($48.6 billion) in 2022, up from Dh98.8 ($26.9 billion) in 2018, according to a report by Fitch Solutions...
UAE-headquartered Truebell a leading GCC importer of fast-moving consumer goods (FMCG) is adding a wide range of new products to its existing portfolio of over 10 000 products. The retail and food services division of the company has entered into exclusive distribution agreements with a number of leading brands including Yorkshire tea La Rose Noire Nocciolata and Sacla to begin distributing their products during the second quarter of 2019 said a statement. Leading retailers across the UAE such as Spinney s and Carrefour will be stocking up on products such as OHO cereals from Lithuania Yorkshire Tea (UK) and Bulla Dairy from Australia it said. Meanwhile our food service division will see the launch of a wide variety of products from Sacla s antipasti range Rana frozen pasta and Nocciolata organic chocolate paste all of which are from Italy as well as baked sweet treats from The Cookie Tree (USA) Tor...
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UAE-headquartered Truebell, a leading GCC importer of fast-moving consumer goods (FMCG), is adding a wide range of new products to its existing portfolio of over 10,000 products.
The retail and food services division of the company has entered into exclusive distribution agreements with a number of leading brands including Yorkshire tea, La Rose Noire, Nocciolata and Sacla to begin distributing their products during the second quarter of 2019, said a statement.
Leading retailers across the UAE such as Spinney’s and Carrefour will be stocking up on products such as OHO cereals from Lithuania, Yorkshire Tea (UK) and Bulla Dairy from Australia, it said.
Meanwhile, our food service division will see the launch of a wide variety of products from Sacla’s antipasti range, Rana frozen pasta and Nocciolata organic chocolate paste – all of which are from Italy – as well as baked sweet treats from The Cookie Tree (USA), Tor...
The global automotive tyre market is expected to grow at a compound annual growth rate (CAGR) of 6.3 per cent during 2017 to 2027 and reach a valuation of 645 billion by 2027 according to a report by Future Market Insights. The report titled Automotive tyre Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027) covers the drivers impact challenges trends as well as opportunities in the global automotive tyre market with competition assessment during the period of 2017-2027. The global automotive tyre market is expected to witness robust growth across main regions of Asia Pacific excluding Japan (APEJ) North America Western Europe Eastern Europe Latin America Japan and Middle and Africa (MEA) during the forecast period. The evolving technology which is set to changing the future scenario of tyres increasing mergers and acquisitions with a view to expand the retail network the incre...
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The global automotive tyre market is expected to grow at a compound annual growth rate (CAGR) of 6.3 per cent during 2017 to 2027, and reach a valuation of $645 billion by 2027, according to a report by Future Market Insights.
The report, titled “Automotive tyre Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” covers the drivers, impact, challenges, trends as well as opportunities in the global automotive tyre market with competition assessment during the period of 2017-2027.
The global automotive tyre market is expected to witness robust growth across main regions of Asia Pacific excluding Japan (APEJ), North America, Western Europe, Eastern Europe, Latin America, Japan and Middle and Africa (MEA) during the forecast period.
The evolving technology which is set to changing the future scenario of tyres, increasing mergers and acquisitions with a view to expand the retail network, the incre...
Bahrain-based Investcorp a global leader in alternative investment products said that it has agreed to the sale of The Wrench Group a leading provider of home maintenance and repair services in the US to Leonard Green & Partners a Los Angeles-based private equity firm. The terms of the transaction were not disclosed. Investcorp in partnership with management formed Wrench in 2016. At the time of acquisition Wrench was comprised of four like-minded locally operated companies with market leading positions in Atlanta Dallas Houston and Phoenix. The management owners collaborative approach and entrepreneurial spirit helped transform the business from a group of local businesses to a leading integrated national platform. Today Wrench is a market leader with divisions in Atlanta Dallas Denver Houston Phoenix Sarasota and Tampa markets. This transaction was the first acquisition after we announ...
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Bahrain-based Investcorp, a global leader in alternative investment products, said that it has agreed to the sale of The Wrench Group, a leading provider of home maintenance and repair services in the US, to Leonard Green & Partners, a Los Angeles-based private equity firm.
The terms of the transaction were not disclosed.
Investcorp, in partnership with management, formed Wrench in 2016. At the time of acquisition, Wrench was comprised of four like-minded, locally operated companies with market leading positions in Atlanta, Dallas, Houston and Phoenix.
The management owners’ collaborative approach and entrepreneurial spirit helped transform the business from a group of local businesses to a leading integrated national platform. Today, Wrench is a market leader with divisions in Atlanta, Dallas, Denver, Houston, Phoenix, Sarasota and Tampa markets.
“This transaction was the first acquisition after we announ...
Emirates NBD a leading bank in the region has won industry recognition for its retail banking leadership at the Retail Banker International (RBI) Asia Trailblazer Awards. At a ceremony held recently in Singapore the bank was adjudged the Asian Trailblazer of the Year Institutional as well as Best Retail Bank UAE. Emirates NBD was also highly commended in the Best Credit Scoring Innovation category for its digital personal loan application process with instant approvals as well as in the Excellence in Internet Banking category for its state-of-the-art Online Banking platform. In addition Suvo Sarkar senior executive vice president head of Retail Banking & Wealth Management Emirates NBD was recognised as the Asian Trailblazer of the Year Individual on account of his leadership and pioneering vision in driving the division s regional and global accomplishments in retail banking and digital innovation. br ...
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Emirates NBD, a leading bank in the region, has won industry recognition for its retail banking leadership at the Retail Banker International (RBI) Asia Trailblazer Awards.
At a ceremony held recently in Singapore, the bank was adjudged the Asian Trailblazer of the Year – Institutional as well as Best Retail Bank – UAE. Emirates NBD was also highly commended in the Best Credit Scoring Innovation category for its digital personal loan application process with instant approvals as well as in the Excellence in Internet Banking category for its state-of-the-art Online Banking platform.
In addition, Suvo Sarkar, senior executive vice president, head of Retail Banking & Wealth Management, Emirates NBD was recognised as the Asian Trailblazer of the Year – Individual, on account of his leadership and pioneering vision in driving the division’s regional and global accomplishments in retail banking and digital innovation.
Bank ABC is expected to launch a mobile-first retail bank in Bahrain before the end of 2019 as part of its digital strategy. The Central Bank of Bahrain has approved the new bank and granted it a licence. After the launch in Bahrain the intention is to expand into other Mena markets such as Egypt and Jordan Bank ABC said at the bank s Annual General Meeting yesterday. Bank ABC s shareholders during the AGM approved a cash dividend distribution of 3 per cent ( 0.03 per share net of treasury shares) amounting to 92.934 million. This translates to approximately 46% of the net profit for the year attributable to the shareholders of the parent. The AGM has also approved the appointment of new directors to replace retiring board members. Since the announcement of the intention for a market-making arrangement in February 2018 ABC&rsq...
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McLaren Automotive the British creator of luxury sportscars and supercars has announced the appointment of Mohsin Haider Darwish (MHD) as its official retailer in Oman. With 60 years of experience MHD is a premium automotive dealer who represents some of the finest global automotive brands across Oman. They have built their reputation through the high standard of service offered to customers while staying true to the brand offerings. Located in Azaiba Muscat the new showroom and service facility is due to open in quarter two of 2019 said a statement from the company. The facility will be in line with the latest McLaren corporate identity and will consist of a showroom and service facility that is approximately 500 sq m it said. The new showroom will showcase the latest McLaren model range from the Super Series and Sports Series including the new 720S Spider it added. David Aziz chief executive off...
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McLaren Automotive, the British creator of luxury sportscars and supercars, has announced the appointment of Mohsin Haider Darwish (MHD) as its official retailer in Oman.
With 60 years of experience, MHD is a premium automotive dealer who represents some of the finest global automotive brands across Oman. They have built their reputation through the high standard of service offered to customers while staying true to the brand offerings.
Located in Azaiba, Muscat, the new showroom and service facility is due to open in quarter two of 2019, said a statement from the company.
The facility will be in line with the latest McLaren corporate identity and will consist of a showroom and service facility that is approximately 500 sq m, it said.
The new showroom will showcase the latest McLaren model range from the Super Series and Sports Series, including the new 720S Spider, it added.
David Aziz, chief executive off...
Saudi Aramco a global integrated energy and chemicals company and French oil major Total have signed an agreement to develop a network of retail fuel service stations in Saudi Arabia. The 50:50 joint venture (JV) plans to invest around 1 billion over the next six years in the Saudi retail fuel market to provide motorists with premium fuels and retail services in Saudi Arabia. This is a major milestone which will help establish a quality retail fuel network in the Kingdom. We look forward to working together with our long-term partner Total and draw on their extensive experience in the retail fuel market said Abdulaziz Al-Judaimi Saudi Aramco s senior vice president of Downstream and chairman of the JV Board. He added: With this new business we aim to enhance the quality of services as well as create jobs and additional investment opportunities in the Kingdom. This JV aligns with Saudi Vision 2030 and sup...
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Saudi Aramco, a global integrated energy and chemicals company and French oil major Total have signed an agreement to develop a network of retail fuel service stations in Saudi Arabia.
The 50:50 joint venture (JV) plans to invest around $1 billion over the next six years in the Saudi retail fuel market to provide motorists with premium fuels and retail services in Saudi Arabia.
“This is a major milestone which will help establish a quality retail fuel network in the Kingdom. We look forward to working together with our long-term partner Total and draw on their extensive experience in the retail fuel market,” said Abdulaziz Al-Judaimi, Saudi Aramco’s senior vice president of Downstream and chairman of the JV Board.
He added: “With this new business, we aim to enhance the quality of services, as well as create jobs and additional investment opportunities in the Kingdom. This JV aligns with Saudi Vision 2030 and sup...
Majid Al Futtaim a leading shopping mall and leisure pioneer has launched the region s first Retail Business School designed to build state-of-the-art learning into the company s employee professional development. The Majid Al Futtaim Retail Business School will focus exclusively on dynamic learning programmes for employees running its Carrefour operations as the company seeks to accelerate its ambitious growth plans. Around 2 500 employees are expected to benefit from professional development opportunities at the School this year. The campus which is located at its Carrefour premises in Ibn Battuta Mall in Dubai offers a modern and stylish purpose-built environment incorporating a cutting-edge Virtual Reality training room (the first of its kind known in the region) paperless classrooms a multimedia studio social spaces catering facilities and a formal boardroom. Students can also take advantage of a Digital Library while attendi...
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Majid Al Futtaim, a leading shopping mall and leisure pioneer, has launched the region’s first Retail Business School, designed to build state-of-the-art learning into the company’s employee professional development.
The Majid Al Futtaim Retail Business School will focus exclusively on dynamic learning programmes for employees running its Carrefour operations as the company seeks to accelerate its ambitious growth plans. Around 2,500 employees are expected to benefit from professional development opportunities at the School this year.
The campus, which is located at its Carrefour premises in Ibn Battuta Mall in Dubai, offers a modern and stylish purpose-built environment incorporating a cutting-edge Virtual Reality training room (the first of its kind known in the region), paperless classrooms, a multimedia studio, social spaces, catering facilities and a formal boardroom. Students can also take advantage of a Digital Library while attendi...
Dubai developer Emaar said it has made significant progress in the construction of five new retail link bridges that will further strengthen road connectivity to The Dubai Mall the world s most-visited retail and lifestyle destination. Scheduled to open in February the retail link bridges connect the mall with Doha Road/Financial Centre Road said a statement from Emaar. The new bridges are part of The Dubai Mall s Zabeel expansion and are executed by Emaar with the support of the Roads and Transport Authority (RTA). At a length of over 1.78 km the elevated bridges have a total decked area of about 15 000 sq m. The longest bridge is over 765 m while the others vary in length from 120 to 582m. The bridges are buttressed by over 580 piles of varying diameter adding to their stability and strength. The bridge spans constructed and pre-assembled in Al Quoz are erected over the piers to accelerate the completi...
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Dubai developer Emaar said it has made significant progress in the construction of five new retail link bridges that will further strengthen road connectivity to The Dubai Mall, the world’s most-visited retail and lifestyle destination.
Scheduled to open in February, the retail link bridges connect the mall with Doha Road/Financial Centre Road, said a statement from Emaar.
The new bridges are part of The Dubai Mall’s Zabeel expansion and are executed by Emaar with the support of the Roads and Transport Authority (RTA).
At a length of over 1.78 km, the elevated bridges have a total decked area of about 15,000 sq m. The longest bridge is over 765 m while the others vary in length from 120 to 582m. The bridges are buttressed by over 580 piles of varying diameter adding to their stability and strength.
The bridge spans, constructed and pre-assembled in Al Quoz, are erected over the piers to accelerate the completi...
Oman Air has integrated the Offer and Order Management Solution (OfrMS) from TPConnects to enhance its personalised retailing capabilities and NDC enabled distribution with air and non-air ancillaries to create a unique buying experience that caters to customer s constantly changing needs. Oman Air chief commercial officer Paul Starrs commented: We are pleased to partner with TPConnects and deploying their scalable Offer and Order Management Solution (OfrMS) and NDC enabled Distribution as part of our strategy in adapting and accelerating the new era of persona-based airline retailing. TPConnects OfrMS is integrated on top of the assets (Passenger Service System Frequent Flyer Programme etc) we already have hence we are able to get NDC Certified on Level 3 and go to market in less than two months. Implementing the OfrMS and NDC standards brings the opportunity for Oman Air to package price and offer bundle and a la carte air and no...
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Oman Air has integrated the Offer and Order Management Solution (OfrMS) from TPConnects to enhance its personalised retailing capabilities and NDC enabled distribution, with air and non-air ancillaries, to create a unique buying experience that caters to customer’s constantly changing needs.
Oman Air chief commercial officer, Paul Starrs commented: “We are pleased to partner with TPConnects and deploying their scalable Offer and Order Management Solution (OfrMS) and NDC enabled Distribution, as part of our strategy in adapting and accelerating the new era of persona-based airline retailing. TPConnects OfrMS is integrated on top of the assets (Passenger Service System, Frequent Flyer Programme etc) we already have, hence we are able to get NDC Certified on Level 3 and go to market in less than two months.
Implementing the OfrMS and NDC standards brings the opportunity for Oman Air to package, price and offer bundle and a la carte air and no...
Dubai Industrial Park (DI) one of the largest industrial hubs in Dubai and a member of Tecom Group has officially opened its first retail offering Sapphire Mall which has been built at an investment of more than Dh100 million ( 27.2 million). A 215 000-sq-ft retail and dining facility Sapphire Mall is the first project to be completed by Dubai Industrial Park in collaboration with Sapphire Investments. It aims to cater to residents in the destination s growing community. Abdulla Belhoul the chief commercial officer of Tecom Group joined hands with Saud Abu Al Shawareb the managing director of Dubai Industrial Park Najeeb Kadiri and Mohammed Ali Nocholy the directors of Sapphire Investments for the grand opening of the shopping mall. Speaking at the launch ceremony Saud Abu Al Shawareb said: The opening of the new mall not only serves our ambitious plans to position Dubai Industrial Park as a lucrative hub for busi...
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Dubai Industrial Park (DI), one of the largest industrial hubs in Dubai and a member of Tecom Group, has officially opened its first retail offering, Sapphire Mall, which has been built at an investment of more than Dh100 million ($27.2 million).
A 215,000-sq-ft retail and dining facility, Sapphire Mall is the first project to be completed by Dubai Industrial Park in collaboration with Sapphire Investments. It aims to cater to residents in the destination’s growing community.
Abdulla Belhoul, the chief commercial officer of Tecom Group, joined hands with Saud Abu Al Shawareb, the managing director of Dubai Industrial Park, Najeeb Kadiri and Mohammed Ali Nocholy, the directors of Sapphire Investments for the grand opening of the shopping mall.
Speaking at the launch ceremony, Saud Abu Al Shawareb said: "The opening of the new mall not only serves our ambitious plans to position Dubai Industrial Park as a lucrative hub for busi...
Saudi Aramco announced on Wednesday that it is establishing a fuel retailing subsidiary. The new company Saudi Aramco Retail Company (RetailCo) will focus on expanding the network of domestic fuel retail stations in the kingdom. The company is chartered with owning Saudi Aramco s fuel retailing delivering Saudi Aramco brand positioning innovating retail experience for fuel and associated non-fuel activities and creating an agile business unit that can adapt to the retail market s changing dynamics. Integrating fully across the hydrocarbon value chain is key to capturing maximum value from our resources. We are very excited about the establishment of RetailCo. It will leverage synergies in our business model and position us to actively participate in the customer-facing segment of the downstream value chain said Abdulaziz Al-Judaimi Saudi Aramco senior vice president of Downstream. By institut...
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Saudi Aramco announced on Wednesday that it is establishing a fuel retailing subsidiary. The new company, Saudi Aramco Retail Company (RetailCo), will focus on expanding the network of domestic fuel retail stations in the kingdom.
The company is chartered with owning Saudi Aramco’s fuel retailing, delivering Saudi Aramco brand positioning, innovating retail experience for fuel and associated non-fuel activities and creating an agile business unit that can adapt to the retail market’s changing dynamics.
“Integrating fully across the hydrocarbon value chain is key to capturing maximum value from our resources. We are very excited about the establishment of RetailCo. It will leverage synergies in our business model and position us to actively participate in the customer-facing segment of the downstream value chain,” said Abdulaziz Al-Judaimi, Saudi Aramco senior vice president of Downstream.
“By institut...
Al Raid Group a specialist developer of retail shopping malls and leisure destinations has officially opened Al Araimi Boulevard (ABLVD) an innovative retail development concept in Muscat said a report. Located in Al Khoud the Al Araimi Boulevard has been developed at an investment of over RO100 million ( 259 million). It boasts a built up area of 187 000 sq m and provides leasable space of 75 000 sq m reported the Oman Observer . It will be home to more than 210 stores ranging in area from 70-160 sq m. It has a family entertainment centre of 6 000 sq m it stated. Al Araimi Boulevard consists of two floors providing spaces for water features fountains and other unique features like green landscaped areas. There will be 10 cinema screens and a Carrefour hypermarket which will occupy an area of 10 000 square metres. It will also be home to 20 casual dining restaurants with a food court that seats up to 1 2...
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Al Raid Group, a specialist developer of retail shopping malls and leisure destinations, has officially opened Al Araimi Boulevard (ABLVD), an innovative retail development concept in Muscat, said a report.
Located in Al Khoud, the Al Araimi Boulevard has been developed at an investment of over RO100 million ($259 million). It boasts a built up area of 187,000 sq m and provides leasable space of 75,000 sq m, reported the Oman Observer.
It will be home to more than 210 stores ranging in area from 70-160 sq m. It has a family entertainment centre of 6,000 sq m, it stated.
Al Araimi Boulevard consists of two floors, providing spaces for water features, fountains and other unique features like green landscaped areas.
There will be 10 cinema screens and a Carrefour hypermarket, which will occupy an area of 10,000 square metres. It will also be home to 20 casual dining restaurants with a food court that seats up to 1,2...
Emirates Skywards the loyalty programme of Emirates and flydubai in partnership with The Dubai Mall is giving its members five strong reasons to shop this Dubai Shopping Festival (DSF) which starts today (December 26) . 1 . Earn Skywards Miles for spends at The Dubai Mall : Emirates Skywards members can earn Skywards Miles at the rate of up to one Skywards Mile per 1 spent for all purchases over Dh100 ( 27.2) at The Dubai Mall. Members simply have to download The Dubai Mall app register for the Emaar Malls Rewards Programme link their Emirates Skywards account to the app and then scan their purchase receipts for the Miles to be credited to their account. Members can find more information about the offer on the Emirates Skywards website. With over 1 300 retail stores including 200 dining options and a host of world-class leisure attractions Emirates Skywards members can use their shopping spends at The Dubai Mall...
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Emirates Skywards, the loyalty programme of Emirates and flydubai, in partnership with The Dubai Mall, is giving its members five strong reasons to shop this Dubai Shopping Festival (DSF), which starts today (December 26) .
1. Earn Skywards Miles for spends at The Dubai Mall: Emirates Skywards members can earn Skywards Miles at the rate of up to one Skywards Mile per $1 spent for all purchases over Dh100 ($27.2) at The Dubai Mall. Members simply have to download The Dubai Mall app, register for the Emaar Malls Rewards Programme, link their Emirates Skywards account to the app and then scan their purchase receipts for the Miles to be credited to their account. Members can find more information about the offer on the Emirates Skywards website.
With over 1,300 retail stores including 200 dining options and a host of world-class leisure attractions, Emirates Skywards members can use their shopping spends at The Dubai Mall...
McLaren Automotive a leading creator of luxury sports cars and supercars said that its chief executive officer Mike Flewitt was honoured with the prestigious award for inspirational leadership as McLaren was also voted Britain s most admired car company. Lord Heseltine founder and owner of Haymarket Media Group presented Flewitt and McLaren Automotive with the Management Today awards at a gala dinner in London UK which also saw the company placed sixth overall on the list of the UK s most admired companies. Established in 1990 Management Today s Britain s Most Admired Companies (BMAC) remains one of the most in-depth and best-established corporate reputation surveys in the UK. Flewitt and McLaren Automotive won amidst fierce competition from up to 250 companies said a statement from McLaren. Previous recipients of the award including last year s winner Tony Pidgley of B...
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McLaren Automotive, a leading creator of luxury sports cars and supercars, said that its chief executive officer Mike Flewitt was honoured with the prestigious award for inspirational leadership, as McLaren was also voted Britain’s most admired car company.
Lord Heseltine, founder and owner of Haymarket Media Group, presented Flewitt and McLaren Automotive with the ‘Management Today’ awards at a gala dinner in London, UK, which also saw the company placed sixth overall on the list of the UK’s most admired companies.
Established in 1990, Management Today’s Britain’s Most Admired Companies (BMAC) remains one of the most in-depth and best-established corporate reputation surveys in the UK.
Flewitt and McLaren Automotive won amidst fierce competition from up to 250 companies, said a statement from McLaren.
Previous recipients of the award including last year’s winner Tony Pidgley of B...
Moody s Investors Service (Moody s) has affirmed the long-term deposit and issuer ratings of four retail banks it rates in Bahrain as well as the senior unsecured and subordinated debt ratings. These banks are BBK National Bank of Bahrain (NBB) Bahrain Islamic Bank (BiSB) and Khaleeji Commercial Bank (KHCB). Moody s also affirmed the banks baseline credit assessments (BCA) adjusted BCAs Counterparty Risk Assessments (CRAs) and Counterparty Risk Ratings (CRRs) for these four institutions. However only BBK NBB and BISB s long-term ratings were changed to stable from negative by the top ratings agency on December 17. The outlook on KHCB s long term ratings still remains negative. Moody s decision is mainly driven by the affirmation of the Bahraini government s B2 issuer rating and the change in outlook to stable. The banks BCAs are already at the govern...
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Moody's Investors Service (Moody's) has affirmed the long-term deposit and issuer ratings of four retail banks it rates in Bahrain, as well as the senior unsecured and subordinated debt ratings.
These banks are BBK, National Bank of Bahrain (NBB), Bahrain Islamic Bank (BiSB) and Khaleeji Commercial Bank (KHCB).
Moody's also affirmed the banks' baseline credit assessments (BCA), adjusted BCAs, Counterparty
Risk Assessments (CRAs) and Counterparty Risk Ratings (CRRs) for these four institutions.
However, only BBK, NBB and BISB's long-term ratings were changed to stable from negative by the top ratings agency on December 17. The outlook on KHCB's long term ratings still remains negative.
Moody's decision is mainly driven by the affirmation of the Bahraini government's B2 issuer rating and the change in outlook to stable.
"The banks' BCAs are already at the govern...
Jordan-based STS a leading provider of comprehensive information technology (IT) solutions said it has signed an agreement with Nuqul Automotive to deploy its cloud customer relationship management (CRM) as a service. The unique STS Cloud CRM as a Service was customized to cater to the needs of the automotive industry and more specifically to Nuqul Automotive s standards and requirements said a statement from the company. In addition the cloud solution enables users to access the various internal communication channels via a single platform; create execute and track marketing campaigns; and coordinate between the marketing and sales teams it added. The solution aims to assist the car distributor in analysing the data of existing and new customers while enhancing the quality of extended services said Mohammad Adnan the general manager of cloud and ad...
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Retail sales across four Gulf countries are projected to increase by more than 24 billion over the next five years with the UAE expected to lead this trend with an estimated growth rate of 16 per cent according to new research from Euromonitor International. The report reveals that Kuwait Oman Saudi Arabia and the UAE are all set to capitalise on the rise of consumerism thanks to favourable demographics a rise in population and a strong growth trajectory in tourism and per capita income. The figures have been released ahead of The Retail Summit set to take place on February 13 and 14 at the Atlantis Hotel in Dubai UAE gathering 800 of the world s most prominent retail leaders industry stakeholders and experts. The two-day summit to be held under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai has received prestigious endorsement w...
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Retail sales across four Gulf countries are projected to increase by more than $24 billion over the next five years, with the UAE expected to lead this trend with an estimated growth rate of 16 per cent, according to new research from Euromonitor International.
The report reveals that Kuwait, Oman, Saudi Arabia and the UAE are all set to capitalise on the rise of consumerism thanks to favourable demographics, a rise in population and a strong growth trajectory in tourism and per capita income.
The figures have been released ahead of The Retail Summit, set to take place on February 13 and 14, at the Atlantis Hotel, in Dubai, UAE, gathering 800 of the world’s most prominent retail leaders, industry stakeholders and experts.
The two-day summit, to be held under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has received prestigious endorsement w...
The Department of Economic Development (DED) and Dubai Festivals and Retail Establishment (DFRE) have jointly announced the 2019 Retail Calendar showcasing 18 events over 247 days versus 12 events over 178 days in 2018. Featuring even more city-wide events activations and experiences throughout 2019 the calendar is strategically catered to provide active stimulus to resident and tourist consumer spend on shopping throughout the forthcoming year. Additionally aimed at prioritising wider and inclusive sector participation thereby extending the economic benefits of the initiative to a wider base the 2019 Retail Calendar offers a reduction in fees for all small and medium enterprises to enable dynamic adaptation to the ongoing disruptions impacting retail whilst retaining competitiveness in the global environment. The Retail Calendar is reflective of strong and successful collaboration between both government departments (DED a...
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The Department of Economic Development (DED) and Dubai Festivals and Retail Establishment (DFRE), have jointly announced the 2019 Retail Calendar showcasing 18 events over 247 days, versus 12 events over 178 days in 2018.
Featuring even more city-wide events, activations and experiences throughout 2019, the calendar is strategically catered to provide active stimulus to resident and tourist consumer spend on shopping throughout the forthcoming year.
Additionally, aimed at prioritising wider and inclusive sector participation thereby extending the economic benefits of the initiative to a wider base, the 2019 Retail Calendar offers a reduction in fees for all small and medium enterprises to enable dynamic adaptation to the ongoing disruptions impacting retail, whilst retaining competitiveness in the global environment.
The Retail Calendar is reflective of strong and successful collaboration between both government departments (DED a...
GEFCO Group a European leader in automotive logistics and Saudi Arabia s Almajdouie Logistics (MLC) have announced the formation of a 50-50 joint venture in automotive logistics. The relationship between the two powerhouse companies began in January 2018 when they partnered to provide finished vehicle logistics services to Almajdouie Auto (MMC) the importer of Hyundai in Saudi Arabia. In its second phase the joint venture plans to offer a full range of finished vehicle services to the Saudi Arabian market and will officially launch operations in the first half of 2019. We are very pleased to announce a 50-50 JV agreement with Almajdouie Logistics commented Luc Nadal CEO of GEFCO Group. The new JV will benefit from MLC s strong position in the market and GEFCO s experience in providing smart and flexible supply chain solutions to customers around the world. With 69 years of...
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More than 80 speakers will talk about how digital disruption and shifting consumer expectations are driving a transformation in retail at The Retail Summit an upcoming new business event for C-level retailers in Dubai UAE. Beauty powerhouse Huda Kattan will join billionaire entrepreneur and Virgin Group founder Sir Richard Branson in headlining the summit taking place at Atlantis The Palm on February 13 and 14 2019. The founder and CEO of Huda Beauty one of the most successful and fastest growing new brands to be launched this decade will be accompanied by her sister Mona Kattan co-founder and global president of the cosmetics line who will take to the stage of The Retail Summit to discuss how their early adoption of social media platforms such as YouTube and Instagram helped support their stratospheric success. Held in partnership with the Dubai Chamber of Commerce and Industry and Meydan One The Retail Summit will bring toge...
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More than 80 speakers will talk about how digital disruption and shifting consumer expectations are driving a transformation in retail at The Retail Summit, an upcoming new business event for C-level retailers in Dubai, UAE.
Beauty powerhouse Huda Kattan will join billionaire entrepreneur and Virgin Group founder Sir Richard Branson in headlining the summit, taking place at Atlantis, The Palm on February 13 and 14, 2019.
The founder and CEO of Huda Beauty, one of the most successful and fastest growing new brands to be launched this decade, will be accompanied by her sister Mona Kattan, co-founder and global president of the cosmetics line, who will take to the stage of The Retail Summit to discuss how their early adoption of social media platforms such as YouTube and Instagram helped support their stratospheric success.
Held in partnership with the Dubai Chamber of Commerce and Industry and Meydan One, The Retail Summit will bring toge...
The rise of machine learning and advanced sensor technologies the shift of customer transactions from ownership to rentals and subscriptions the reorganisation of an industry from selling cars to managing transportation assets and the rapid redistribution of profits from sales to new profit centres are the future trends in the automotive industry according to an expert from Amena -the only Automotive Association for the Mena region. Alan Whaley founder and chairman at Amena spoke about the future of Artificial Intelligence (AI) at a recent digital transformation themed workshop held in Dubai and hosted by CDK Global the leading-dealer management software provider for the global automotive retail industry. Commenting on the power of AI Whaley said: Vehicles in the future will be equipped with a wide number of internal and external sensors feeding AI that will be able to detect cognitive and emotional state of cabin occupant...
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The rise of machine learning and advanced sensor technologies, the shift of customer transactions from ownership to rentals and subscriptions, the reorganisation of an industry from selling cars to managing transportation assets and, the rapid redistribution of profits from sales to new profit centres, are the future trends in the automotive industry, according to an expert from Amena -the only Automotive Association for the Mena region.
Alan Whaley, founder and chairman at Amena spoke about the future of Artificial Intelligence (AI) at a recent digital transformation themed workshop held in Dubai and hosted by CDK Global – the leading-dealer management software provider for the global automotive retail industry.
Commenting on the power of AI, Whaley said: “Vehicles in the future will be equipped with a wide number of internal and external sensors feeding AI that will be able to detect cognitive and emotional state of cabin occupant...
Tickets for the Bahrain International Airshow (BIAS) - the fastest growing airshow in the Middle East - are available at a number of Batelco Retail Shops and online on BIAS website. Once again Batelco is the headline sponsor of the Bahrain International Airshow 2018 which is organised by the Ministry of Transportation and Telecommunications (MTT) and the Royal Bahraini Air Force in cooperation with Farnborough International. The public part of the show will take place at the Sakhir Airbase from November 14 to 17 extended for an additional day this year in order to allow more families the opportunity to enjoy the activities. For five hours the sky above the Sakhir Airbase will host a spectacular air display. Pilots are set to showcase breath-stopping skills testing the limits of some of the world s most legendary aircraft. From military jets to big civilian airliners and historic classics there is a plane to thrill everyone ...
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Tickets for the Bahrain International Airshow (BIAS) - the fastest growing airshow in the Middle East - are available at a number of Batelco Retail Shops and online on BIAS website.
Once again, Batelco is the headline sponsor of the Bahrain International Airshow 2018, which is organised by the Ministry of Transportation and Telecommunications (MTT) and the Royal Bahraini Air Force, in cooperation with Farnborough International.
The public part of the show will take place at the Sakhir Airbase from November 14 to 17, extended for an additional day this year in order to allow more families the opportunity to enjoy the activities.
For five hours, the sky above the Sakhir Airbase will host a spectacular air display. Pilots are set to showcase breath-stopping skills, testing the limits of some of the world’s most legendary aircraft. From military jets to big civilian airliners and historic classics, there is a plane to thrill everyone ...
The Avenues - Bahrain the first commercial and leisure mall of its kind in the kingdom with a unique 1.5-km-long waterfront has won major recognition at the Arabian and African Property Awards 2018-2019 ceremony held in Dubai. The Arabian and African Property Award is one of the most prominent real-estate competitions in the region where many real-estate developers battle for top honours in various industry categories. The final results of the award were announced at a ceremony held recently in Waldorf Astoria Dubai Palm Jumeirah covering multiple categories including developers architects agents and interior designers said a statement from Mabanee the owner of The Avenues - Kuwait. Mabanee had earlier received the Best Leisure Development Award from the Arab chapter of International Property Awards for phase IV of The Avenues. It has also received the Best Retail Development award in 2011 as well as Platinum and Gold Awards by...
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The Avenues - Bahrain, the first commercial and leisure mall of its kind in the kingdom with a unique 1.5-km-long waterfront, has won major recognition at the Arabian and African Property Awards 2018-2019 ceremony held in Dubai.
The Arabian and African Property Award is one of the most prominent real-estate competitions in the region, where many real-estate developers battle for top honours in various industry categories.
The final results of the award were announced at a ceremony held recently in Waldorf Astoria Dubai Palm Jumeirah, covering multiple categories including developers, architects, agents and interior designers, said a statement from Mabanee, the owner of The Avenues - Kuwait.
Mabanee had earlier received the Best Leisure Development Award from the Arab chapter of International Property Awards for phase IV of The Avenues. It has also received the Best Retail Development award in 2011, as well as Platinum and Gold Awards by...
UAE-based Cofely Besix Facility Management (CBFM) said it has been awarded the contract to provide facilities management services for two of Al Ain s retail developments - Al Jimi Mall and Shabahat Plaza. Al Jimi Mall is a shopping and entertainment location in the heart of the city and currently has a gross internal area (GIA) of 44 000 sq m with an annual footfall of 8 million visitors while Shabahat Plaza is a community-based retail experience located 10km south of Al Ain city centre. Al Jimi Mall is currently undergoing a massive expansion and renovation programme to add a further 65 stores including an 8-screen VOX cinema and a retail park to the existing 94 outlets bringing the total leasable area to 76 000 m2. Expected to be completed by the year-end the expansion will include a new outdoor retail park family dining and coffee shops as well as an event plaza and an additional carpark accommodating more ...
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UAE-based Cofely Besix Facility Management (CBFM) said it has been awarded the contract to provide facilities management services for two of Al Ain's retail developments - Al Jimi Mall and Shabahat Plaza.
Al Jimi Mall is a shopping and entertainment location in the heart of the city, and currently has a gross internal area (GIA) of 44,000 sq m, with an annual footfall of 8 million visitors, while Shabahat Plaza is a community-based retail experience located 10km south of Al Ain city centre.
Al Jimi Mall is currently undergoing a massive expansion and renovation programme to add a further 65 stores, including an 8-screen VOX cinema, and a retail park to the existing 94 outlets, bringing the total leasable area to 76,000 m2.
Expected to be completed by the year-end, the expansion will include a new outdoor ‘retail park’, family dining and coffee shops, as well as an event plaza and an additional carpark accommodating more ...
Japan-based Gunze a leading apparel company recently launched its debut retail endeavour at the Etihad Mall in Dubai UAE in partnership with UAE-based ITL Cosmos Group. Dr Akima Umezawa consul-general of Japan in Dubai inaugurated the retail outlet by Gunze said a statement from the company. Dr Ram Buxani chairman ITL Cosmos Group presented a memento of appreciation to Dr Umezawa. Japanese textiles are known for their premium quality and have gained international popularity for their soft rich texture and wrinkle-resistance. Premium kandora and abaya (traditional male and female robes worn in Gulf) brands are popularly made of Japanese fabric in the Middle East. Leading Japanese textile manufacturers have been exporting fabric to the region since 1960. Inspite of their popularity no premium Japanese innerwear brands had a local presence in the market. To fill this gap in the market ITL Cosmos Group has now in...
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Japan-based Gunze, a leading apparel company, recently launched its debut retail endeavour at the Etihad Mall in Dubai, UAE, in partnership with UAE-based ITL Cosmos Group.
Dr Akima Umezawa, consul-general of Japan in Dubai, inaugurated the retail outlet by Gunze, said a statement from the company.
Dr Ram Buxani, chairman, ITL Cosmos Group, presented a memento of appreciation to Dr Umezawa.
Japanese textiles are known for their premium quality and have gained international popularity for their soft, rich texture and wrinkle-resistance. Premium kandora and abaya (traditional male and female robes worn in Gulf) brands are popularly made of Japanese fabric in the Middle East. Leading Japanese textile manufacturers have been exporting fabric to the region since 1960. Inspite of their popularity, no premium Japanese innerwear brands had a local presence in the market.
To fill this gap in the market, ITL Cosmos Group has now in...
Expanding FMCG sector retail sector food and E-commerce industry in the country has attributed to the growth of the freight forwarding industry in the Kuwait a report said. The growth of freight forwarding in Kuwait was supported by development in major industries such as oil and gas manufacturing retail wholesale construction agriculture and mining added the report titled Kuwait Freight Forwarding Market Outlook to 2022 By Sea Air and Road Freight Movement; By International and Domestic Freight; By Express and Normal Delivery; By Flow Corridors and By End Users (Oil and Gas FMCG Construction and Others) by Ken Research. The Kuwait market witnessed the entry of many foreign players as flexible policies were introduced by the government to boost the economic growth of the country. Entry of new players has further aided the demand in the freight forwarding market. Kuwait freight forwarding market se...
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Expanding FMCG sector, retail sector, food and E-commerce industry in the country has attributed to the growth of the freight forwarding industry in the Kuwait, a report said.
The growth of freight forwarding in Kuwait was supported by development in major industries such as oil and gas, manufacturing, retail, wholesale, construction, agriculture and mining, added the report titled “Kuwait Freight Forwarding Market Outlook to 2022 – By Sea, Air and Road Freight Movement; By International and Domestic Freight; By Express and Normal Delivery; By Flow Corridors and By End Users (Oil and Gas, FMCG, Construction and Others)” by Ken Research.
The Kuwait market witnessed the entry of many foreign players as flexible policies were introduced by the government to boost the economic growth of the country. Entry of new players has further aided the demand in the freight forwarding market.
Kuwait freight forwarding market se...
Al Masaood a top conglomerate in the UAE has opened a new Volvo Penta Spare Parts Centre in Sharjah. The opening of the facility addresses the northern region s increased demand for spare parts of Volvo Penta a global manufacturer of power solutions for marine and industrial applications. The new Spare Parts Centre in Sharjah will offer genuine spare parts accessories for marine leisure and commercial segments and industrial engines and it is the latest addition to the existing Volvo Penta Aftersales Centres located in Abu Dhabi and Dubai. Al Masaood s new Volvo Penta Spare Parts Centre is strategically located at the 6thStreet of the Sharjah Industrial Area and close to the neighbouring emirates of Ajman Fujairah and Ras Al Khaimah. The new centre will also offer door-to-door delivery to the customers. Rasso Bartenschlager general manager of Al Masaood s Power Division said: We are pleased t...
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Al Masaood, a top conglomerate in the UAE, has opened a new Volvo Penta Spare Parts Centre in Sharjah.
The opening of the facility addresses the northern region’s increased demand for spare parts of Volvo Penta, a global manufacturer of power solutions for marine and industrial applications.
The new Spare Parts Centre in Sharjah will offer genuine spare parts, accessories for marine leisure and commercial segments and industrial engines, and it is the latest addition to the existing Volvo Penta Aftersales Centres located in Abu Dhabi and Dubai.
Al Masaood’s new Volvo Penta Spare Parts Centre is strategically located at the 6thStreet of the Sharjah Industrial Area and close to the neighbouring emirates of Ajman, Fujairah and Ras Al Khaimah. The new centre will also offer door-to-door delivery to the customers.
Rasso Bartenschlager, general manager of Al Masaood’s Power Division, said: “We are pleased t...
Dubai Holding and Emaar Properties have announced the launch of Dubai Square a new retail metropolis that pushes the boundaries of modern retail and leisure in Dubai Creek Harbour by drawing on next-generation technology. Blurring the boundaries of online and in-mall shopping integrating indoor and outdoor and delivering a social experience like none other the all-new Dubai Square is designed for the new era of customers digital connected and tech-savvy and setting a benchmark for retail experiences in the 21st century said statement from Emaar. It is set in the heart of Dubai Creek Harbour the 6-sq-km mega-development near the Dubai International Airport and the iconic Burj Khalifa by Emaar as well as set by the historic Dubai Creek. Adjacent to Dubai Creek Tower the astonishing new icon Dubai Square in its totality - represents a 2.6-million sq m retail hospitality and residential district for the future. A tech-driven re...
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Dubai Holding and Emaar Properties have announced the launch of Dubai Square, a new retail metropolis that pushes the boundaries of modern retail and leisure in Dubai Creek Harbour by drawing on next-generation technology.
Blurring the boundaries of online and in-mall shopping, integrating indoor and outdoor, and delivering a social experience like none other, the all-new Dubai Square is designed for the new era of customers, digital, connected and tech-savvy, and setting a benchmark for retail experiences in the 21st century, said statement from Emaar.
It is set in the heart of Dubai Creek Harbour, the 6-sq-km mega-development near the Dubai International Airport and the iconic Burj Khalifa by Emaar, as well as set by the historic Dubai Creek. Adjacent to Dubai Creek Tower, the astonishing new icon, Dubai Square – in its totality - represents a 2.6-million sq m retail, hospitality and residential district for the future.
A tech-driven re...
Leading UAE master developer Nakheel said more than 800 households at its Badrah and Veneto communities in Dubai can look forward to a host of shops cafes and amenities with the completion of a new retail pavilion built at a cost of Dh60 million ( 16.3 million). An 8 000-sq-ft Carrefour supermarket has already opened at the 72 000 sq ft pavilion with another 26 outlets coming soon. There is also a car park for 270 vehicles said the statement from Nakheel. A mosque and sports facilities including a pool and gym are also in the pipeline at Badrah it stated. Located at the heart of the Badrah community in Jebel Ali the retail complex is the sixth in Nakheel s growing collection of Pavilions complementing others already in operation at Jumeirah Park Jumeirah Islands Discovery Gardens International City and Al Furjan where a second is under construction said the statement from Nakheel. The new pavilion oper...
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Leading UAE master developer Nakheel said more than 800 households at its Badrah and Veneto communities in Dubai can look forward to a host of shops, cafes and amenities with the completion of a new retail pavilion built at a cost of Dh60 million ($16.3 million).
An 8,000-sq-ft Carrefour supermarket has already opened at the 72,000 sq ft pavilion, with another 26 outlets coming soon. There is also a car park for 270 vehicles, said the statement from Nakheel.
A mosque and sports facilities, including a pool and gym, are also in the pipeline at Badrah, it stated.
Located at the heart of the Badrah community in Jebel Ali, the retail complex is the sixth in Nakheel’s growing collection of Pavilions, complementing others already in operation at Jumeirah Park, Jumeirah Islands, Discovery Gardens, International City and Al Furjan, where a second is under construction, said the statement from Nakheel.
The new pavilion, oper...
ENBD REIT (CEIC) Limited the Shari a compliant real estate investment trust managed by Emirates NBD Asset Management Limited has opened the Souq Extra Retail Centre in Dubai Silicon Oasis. The opening ceremony was attended by the REIT s chairman Tariq Bin Hendi and Saleh Saeed Lootah chairman of Souq Extra. ENBD REIT acquired Phase 1 of the development in December 2017 with 100 per cent occupancy including blue-chip tenants Carrefour Market KFC McDonald s and Starbucks. ENBD REIT acquired the community retail centre at a gross yield of 9.9 per cent and net yield of 8 per cent. Phase 1 has 36 000 sq ft of gross leasable area comprising 42 fully-let retail units. The REIT has also agreed on terms to acquire Phase 2 of the development on completion in the last quarter of 2018 at an 8 per cent net yield. Phase 2 will comprise a 77 000 sq ft expansio...
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Dubai International Airport (DXB) was voted as the Best Airport for Retail Environment by millennials at the Travel Retail Awards 2018 held recently in Singapore. The winning entries for the airport categories were chosen from the results of a survey covering the experience of thousands of travellers across the world s top 42 airports over a six-month period. What makes some awards special is those in which our customers based on their airport experience vote DXB number one. This is the highest endorsement of our efforts to continuously improve customer experience and choice working with our partners across the airport. We are thrilled to receive the award jointly with Dubai Duty Free said Eugene Barry executive vice president of Dubai Airports Commercial Group. Commenting on the Travel Retail Awards Colm McLoughlin executive vice chairman and CEO of Dubai Duty Free said: &ld...
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Dubai International Airport (DXB) was voted as the “Best Airport for Retail Environment” by millennials at the Travel Retail Awards 2018, held recently in Singapore.
The winning entries for the airport categories were chosen from the results of a survey covering the experience of thousands of travellers across the world’s top 42 airports over a six-month period.
“What makes some awards special is those in which our customers, based on their airport experience, vote DXB number one. This is the highest endorsement of our efforts to continuously improve customer experience and choice, working with our partners across the airport. We are thrilled to receive the award jointly with Dubai Duty Free,” said Eugene Barry, executive vice president of Dubai Airports’ Commercial Group.
Commenting on the Travel Retail Awards, Colm McLoughlin, executive vice chairman and CEO of Dubai Duty Free, said: &ld...
Top intimate brands deliver superior results related to revenue and profit growth by creating deeper relationships with their consumers said a new report from MBLM a global provider of optimized marketing solutions. The UAE s retail industry came in eighth of the 15 studied in MBLM s Brand Intimacy 2018 Report. Brand Intimacy is defined as a new paradigm in marketing which leverages the emotional bonds between a person and a brand. Carrefour took home first place for most intimate brand in the retail industry especially amongst users 25 to 44 years of age. Ikea the industry leader in 2017 ranked fourth place in this year s results. Lulu Hypermarket ranked second among retail brands and performed best among millennials aged 18 to 34 with over 65 per cent of the demographic responding that they couldn t live without the brand. One-stop shopping destinations like Lulu Carrefour and online retailer souq.com are deeply embe...
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Top intimate brands deliver superior results related to revenue and profit growth by creating deeper relationships with their consumers, said a new report from MBLM, a global provider of optimized marketing solutions.
The UAE’s retail industry came in eighth of the 15 studied in MBLM’s Brand Intimacy 2018 Report. Brand Intimacy is defined as a new paradigm in marketing, which leverages the emotional bonds between a person and a brand.
Carrefour took home first place for most intimate brand in the retail industry, especially amongst users 25 to 44 years of age. Ikea, the industry leader in 2017, ranked fourth place in this year's results. Lulu Hypermarket ranked second among retail brands and performed best among millennials aged 18 to 34, with over 65 per cent of the demographic responding that they couldn’t live without the brand.
One-stop shopping destinations like Lulu, Carrefour and online retailer souq.com are deeply embe...
Senior industry experts will come together to discuss game changing trends in the automotive industry and their implications for Morocco at a Frost & Sullivan organised event to be held later this month in Casablanca Morocco. Frost & Sullivan in association with Association of Vehicle Importers in Morocco (Aivam) will host its Automotive Meeting on June 28 at the Hotel Hyatt Regency. Established in 1988 Aivam is a non-profit professional association which includes almost all importers of vehicles present in Morocco. The automotive industry is undergoing major changes and 2018 is expected to significantly accelerate transformation of the way automotive companies do business globally and in Morocco said a statement from Frost & Sullivan. As Morocco is on the way to becoming one of the Top 10 world manufacturers with the goal of manufacturing 1 million highly localised vehicles by 2025 these changes will ...
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Senior industry experts will come together to discuss game changing trends in the automotive industry and their implications for Morocco at a Frost & Sullivan organised event to be held later this month in Casablanca, Morocco.
Frost & Sullivan, in association with Association of Vehicle Importers in Morocco (Aivam), will host its Automotive Meeting on June 28, at the Hotel Hyatt Regency.
Established in 1988, Aivam is a non-profit professional association, which includes almost all importers of vehicles present in Morocco.
The automotive industry is undergoing major changes and 2018 is expected to significantly accelerate transformation of the way automotive companies do business globally and in Morocco, said a statement from Frost & Sullivan.
As Morocco is on the way to becoming one of the Top 10 world manufacturers with the goal of manufacturing 1 million highly localised vehicles by 2025, these changes will ...
Senior industry experts will come together to discuss game changing trends in the automotive industry and their implications for Morocco at the upcoming Automotive Meeting being hosted by growth partnership firm Frost & Sullivan. The event being in association with the Association of Importers of Vehicles in Morocco (Aivam) will take place on June 28 at Hotel Hyatt Regency Casablanca Morocco. The automotive industry is undergoing major changes and 2018 is expected to significantly accelerate transformation of the way automotive companies do business globally and in Morocco. As Morocco is on the way to becoming one of the top 10 world manufacturers with the goal of manufacturing one million highly localized vehicles by 2025 these changes will most likely redefine the Moroccan automotive landscape. The Frost & Sullivan Mobility practice provides global market intelligence and thought leadership to execute key growth opportuni...
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Senior industry experts will come together to discuss game changing trends in the automotive industry and their implications for Morocco at the upcoming Automotive Meeting being hosted by growth partnership firm Frost & Sullivan.
The event, being in association with the Association of Importers of Vehicles in Morocco (Aivam), will take place on June 28 at Hotel Hyatt Regency, Casablanca, Morocco.
The automotive industry is undergoing major changes and 2018 is expected to significantly accelerate transformation of the way automotive companies do business globally and in Morocco. As Morocco is on the way to becoming one of the top 10 world manufacturers with the goal of manufacturing one million highly localized vehicles by 2025, these changes will most likely redefine the Moroccan automotive landscape.
The Frost & Sullivan Mobility practice provides global market intelligence and thought leadership to execute key growth opportuni...
Ford Middle East and Africa has welcomed two Saudi female journalists into the world of automotive journalism as Saudi Arabia begins its countdown to the lifting of the ban on women driving. Layan Damanhouri from English daily Saudi Gazette and Nawal Turki AlJabr head of the Ladies Section at Al Riyadh Arabic daily and seasoned radio presenter spent two days at Ford Middle East s headquarters in Dubai UAE learning new skills with Ford s Product Development and Engineering teams and Ford s storytelling team at the Content Factory. This is a historic moment and a unique opportunity to encourage women to become involved in an exciting career move said Sue Nigoghossian general manager Mena Communications at Ford. Excellent automotive writing thrives on the independent views of well-informed journalists and we re excited to help these two female journalists find their voice and listen to th...
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Ford Middle East and Africa has welcomed two Saudi female journalists into the world of automotive journalism as Saudi Arabia begins its countdown to the lifting of the ban on women driving.
Layan Damanhouri from English daily Saudi Gazette and Nawal Turki AlJabr, head of the Ladies’ Section at Al Riyadh Arabic daily and seasoned radio presenter, spent two days at Ford Middle East’s headquarters in Dubai, UAE learning new skills with Ford’s Product Development and Engineering teams, and Ford’s storytelling team at the Content Factory.
“This is a historic moment and a unique opportunity to encourage women to become involved in an exciting career move,” said Sue Nigoghossian, general manager, Mena Communications at Ford. “Excellent automotive writing thrives on the independent views of well-informed journalists – and we’re excited to help these two female journalists find their voice and listen to th...
Nissan Motor Company plans to introduce a new retail concept to dealerships around the world to improve customer services within a globally consistent brand experience in response to diversifying expectations and lifestyles. All Nissan-brand dealerships will be encouraged to align with the Nissan Retail Concept or NRC said a statement. The new concept aims to improve all aspects of the customer experience at Nissan dealerships including facility design service process and digital environment it said. More than 400 dealerships in 30 countries have already made the change. Nissan aims to implement NRC at more than 9 000 dealerships in more than 170 countries by the end of fiscal year 2022 it added. Dealerships aligned with the Nissan Retail Concept feature a number of new design elements such as an exterior with the familiar red Nissan signage and an exclusive delivery area that enhances the exciting moment when cus...
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Nissan Motor Company plans to introduce a new retail concept to dealerships around the world to improve customer services within a globally consistent brand experience, in response to diversifying expectations and lifestyles.
All Nissan-brand dealerships will be encouraged to align with the Nissan Retail Concept, or NRC, said a statement.
The new concept aims to improve all aspects of the customer experience at Nissan dealerships, including facility design, service process and digital environment, it said.
More than 400 dealerships in 30 countries have already made the change. Nissan aims to implement NRC at more than 9,000 dealerships in more than 170 countries by the end of fiscal year 2022, it added.
Dealerships aligned with the Nissan Retail Concept feature a number of new design elements, such as an exterior with the familiar red Nissan signage and an exclusive delivery area that enhances the exciting moment when cus...
With economic growth estimated to have reached 3 per cent in 2017 following expansion of 3.2 per cent in 2016 Bahrain s growth is the strongest amongst the GCC states. The kingdom s retail and hospitality sectors remain key drivers with the government actively driving initiatives to bring in more investors and diversify the country s real estate market said a report by leading property expert Cluttons. The retail market continues to be one of the kingdom s most stable sectors as evidenced by the recent fourth edition of the Shop Bahrain festival held by the Bahrain Tourism and Exhibitions Authority (BTEA) stated Cluttons in its Bahrain Spring 2018 Property Market Outlook. The event registered a record number of transactions totalling BD19 million ( 50 million) from 145 000 transactions compared to BD8 million ( 21 million) from 130 000 transactions last year. This has been matc...
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With economic growth estimated to have reached 3 per cent in 2017, following expansion of 3.2 per cent in 2016, Bahrain’s growth is the strongest amongst the GCC states.
The kingdom’s retail and hospitality sectors remain key drivers, with the government actively driving initiatives to bring in more investors and diversify the country’s real estate market, said a report by leading property expert Cluttons.
The retail market continues to be one of the kingdom’s most stable sectors, as evidenced by the recent fourth edition of the “Shop Bahrain” festival held by the Bahrain Tourism and Exhibitions Authority (BTEA), stated Cluttons in its Bahrain Spring 2018 Property Market Outlook.
The event registered a record number of transactions totalling BD19 million ($50 million) from 145,000 transactions, compared to BD8 million ($21 million) from 130,000 transactions last year.
This has been matc...
Nissan Motor plans to introduce a new retail concept to dealerships around the world to improve customer services within a globally consistent brand experience in response to diversifying expectations and lifestyles. All Nissan-brand dealerships will be encouraged to align with the Nissan Retail Concept or NRC. The new concept aims to improve all aspects of the customer experience at Nissan dealerships including facility design service process and digital environment. More than 400 dealerships in 30 countries have already made the change. Nissan aims to implement NRC at more than 9 000 dealerships in more than 170 countries by the end of fiscal year 2022. Dealerships aligned with the Nissan Retail Concept feature a number of new design elements such as an exterior with the familiar red Nissan signage and an exclusive delivery area that enhances the exciting moment when customers receive their vehicle. Customers will ...
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Nissan Motor plans to introduce a new retail concept to dealerships around the world to improve customer services within a globally consistent brand experience, in response to diversifying expectations and lifestyles.
All Nissan-brand dealerships will be encouraged to align with the Nissan Retail Concept, or NRC. The new concept aims to improve all aspects of the customer experience at Nissan dealerships, including facility design, service process and digital environment.
More than 400 dealerships in 30 countries have already made the change. Nissan aims to implement NRC at more than 9,000 dealerships in more than 170 countries by the end of fiscal year 2022.
Dealerships aligned with the Nissan Retail Concept feature a number of new design elements, such as an exterior with the familiar red Nissan signage and an exclusive delivery area that enhances the exciting moment when customers receive their vehicle.
Customers will ...
UAE-based Al Forsan Real Estate said its vibrant community destination Town Square located in Abu Dhabi s Khalifa City has one of the best blend of restaurants concept stores supermarket gaming zones for children and several other community focussed brands. Spread across 15 000 sq m Town Square which is nestled within Al Forsan Village is fast turning into an ideal destination of choice to unwind for people living in Khalifa City and nearby areas said the developer. With over 385 villas Al Forsan Village is Abu Dhabi s first active and health focused mixed-use development. It promotes a sense of community living while ensuring its residents lead an active and healthy lifestyle. Town Square currently houses some of the finest restaurants concept stores supermarket gaming zones for children and several other community focussed brands. It is now home to several brands including Sp...
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UAE-based Al Forsan Real Estate said its vibrant community destination Town Square, located in Abu Dhabi’s Khalifa City, has one of the best blend of restaurants, concept stores, supermarket, gaming zones for children and several other community focussed brands.
Spread across 15,000 sq m, ‘Town Square,’ which is nestled within Al Forsan Village, is fast turning into an ideal destination of choice to unwind for people living in Khalifa City and nearby areas, said the developer.
With over 385 villas, Al Forsan Village is Abu Dhabi's first active and health focused mixed-use development. It promotes a sense of community living, while ensuring its residents lead an active and healthy lifestyle.
Town Square currently houses some of the finest restaurants, concept stores, supermarket, gaming zones for children and several other community focussed brands.
It is now home to several brands including Sp...
The Dubai Airport Freezone Authority (Dafza) has announced continued growth in the number of automotive car part and accessories companies within the free zone. The announcement was made during Automechanika Dubai 2018 in which Dafza is the lead-free zone sponsor and is also exhibiting with a stand. The event which specialises in automotive automobile parts and accessories is being hosted at Dubai World Trade Centre from May 1 3. Dafza s sponsorship and participation of the event aims to shed light on the range of excellent services it provides to companies working in the automobile cars and parts sector. The free zone is highlighting the commercial benefits to foreign investors who choose Dafza to launch their businesses and the facilities it offers at various levels from licenses and permits to government services. ...
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The Middle East and Africa (MEA) region s automotive aftermarket trade is expected to grow at 7 per cent per year to 31 billion in 2022 up from 22 billion in 2017 according to a latest report by analysts TechSci Research. The increase has been influenced by the addition of 4.3 million vehicles or 4.67 per cent growth per year to the existing fleet of 92 million active vehicles in the region said the report. The report added that a slackening of regional vehicle sales hasn t ebbed the flow of demand for the automotive service industry and aftermarket products with growth largely fuelled by demand from the existing vehicles in operation and the expected improvement of car sales moving forward. Asad Badami managing director Al Muqarram Auto Parts (A-Map) Trading said: While the growth in sale of new cars might have slowed down the maintenance repair and overhaul of those vehicles in operation will conti...
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The Middle East and Africa (MEA) region’s automotive aftermarket trade is expected to grow at 7 per cent per year to $31 billion in 2022, up from $22 billion in 2017, according to a latest report by analysts TechSci Research.
The increase has been influenced by the addition of 4.3 million vehicles, or 4.67 per cent growth per year to the existing fleet of 92 million active vehicles in the region, said the report.
The report added that a slackening of regional vehicle sales hasn’t ebbed the flow of demand for the automotive service industry and aftermarket products, with growth largely fuelled by demand from the existing vehicles in operation and the expected improvement of car sales moving forward.
Asad Badami, managing director, Al Muqarram Auto Parts (A-Map) Trading, said: “While the growth in sale of new cars might have slowed down, the maintenance, repair and overhaul of those vehicles in operation will conti...
Design International an award-winning studio based in Dubai UAE has announced the opening of a new retail destination - The Aura Valle Aurelia - in the heart of Rome not far from the Vatican City. The architectural project commissioned by CDS Holding and Orion is led the award-winning Design International studio directed by Arch. Davide Padoa assisted by Arch. Stefano Cordeschi for the building permit. Aura Mall is part of a larger urban redevelopment project for the entire Valle Aurelia district the aim of which is to reorganize services and enhance the former Fornace Veschi area. Adjacent to the new Piazza de Fornace the shopping centre is designed to be a focal point providing a welcoming environment for people to meet and spend time with easy access from the surrounding residential areas and the nearby underground and railway stations said a statement from the company. With 60 shops a hypermarket ...
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Design International, an award-winning studio based in Dubai, UAE, has announced the opening of a new retail destination - The Aura Valle Aurelia - in the heart of Rome, not far from the Vatican City.
The architectural project, commissioned by CDS Holding and Orion, is led the award-winning Design International studio, directed by Arch. Davide Padoa, assisted by Arch. Stefano Cordeschi for the building permit.
Aura Mall is part of a larger urban redevelopment project for the entire Valle Aurelia district, the aim of which is to reorganize services and enhance the former Fornace Veschi area.
Adjacent to the new Piazza de Fornace, the shopping centre is designed to be a focal point, providing a welcoming environment for people to meet and spend time, with easy access from the surrounding residential areas and the nearby underground and railway stations, said a statement from the company.
With 60 shops, a hypermarket,...
The automotive and spare parts companies operating in global trade enabler DP World s flagship Jebel Ali Free Zone (Jafza) in Dubai UAE recorded business worth Dh 39.5 billion ( 10.75 billion) in 2017. DP World UAE Region recently held a forum for automotive companies to celebrate the close ties with the industry and to highlight the sector s position as a cornerstone of business growth in Jafza. Sultan Ahmed Bin Sulayem Group chairman and chief executive officer DP World said: The encouraging performance of the sector underlines Dubai s position as the preferred logistics and distribution centre for the automotive industry in the region which has been with us since the beginning. We recognise how the industry has been an integral part of our success story and thank all our customers for their continued trust in us. The vehicle and transport sector accounts for 11 per cent of Jafza s cus...
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The automotive and spare parts companies operating in global trade enabler DP World’s flagship Jebel Ali Free Zone (Jafza) in Dubai, UAE recorded business worth Dh 39.5 billion ($10.75 billion) in 2017.
DP World, UAE Region recently held a forum for automotive companies to celebrate the close ties with the industry and to highlight the sector’s position as a cornerstone of business growth in Jafza.
Sultan Ahmed Bin Sulayem, Group chairman and chief executive officer, DP World, said: “The encouraging performance of the sector underlines Dubai’s position as the preferred logistics and distribution centre for the automotive industry in the region which has been with us since the beginning. We recognise how the industry has been an integral part of our success story and thank all our customers for their continued trust in us.”
“The vehicle and transport sector accounts for 11 per cent of Jafza’s cus...
Telematics e-commerce and 3D printing will form key foundations in the evolution of the original equipment manufacturer (OEM) aftersales channel with OEMs attempting to integrate all aftersales services into a single digital platform according to a Frost & Sullivan report. Frost & Sullivan s recent analysis Global Automotive Aftermarket Outlook 2018 identifies the size of the global automotive parts and services aftermarket and its growth opportunities in 2018. Frost & Sullivan expects global automotive aftermarket demand to increase by 4.4 per cent during 2018 with a slowdown anticipated in some developed markets. Participants in the OEM aftermarket who embrace potential data monetisation opportunities that can be optimised by enhanced customer accessibility widening B2B networks and expanding product and service portfolios will capitalise on current value-add opportunities and ensure future s...
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Telematics, e-commerce and 3D printing will form key foundations in the evolution of the original equipment manufacturer (OEM) aftersales channel, with OEMs attempting to integrate all aftersales services into a single, digital platform, according to a Frost & Sullivan report.
Frost & Sullivan’s recent analysis, ‘Global Automotive Aftermarket Outlook, 2018’, identifies the size of the global automotive parts and services aftermarket and its growth opportunities in 2018.
Frost & Sullivan expects global automotive aftermarket demand to increase by 4.4 per cent during 2018, with a slowdown anticipated in some developed markets.
Participants in the OEM aftermarket who embrace potential data monetisation opportunities that can be optimised by enhanced customer accessibility, widening B2B networks, and expanding product and service portfolios, will capitalise on current value-add opportunities and ensure future s...
Global automotive aftermarket demand is expected to increase by 4.4 per cent during 2018 with a slowdown anticipated in some developed markets according to a new report from growth partnership company Frost & Sullivan. Telematics e-commerce and 3D printing will form key foundations in the evolution of the original equipment manufacturer (OEM) aftersales channel with OEMs attempting to integrate all aftersales services into a single digital platform said the report titled Global Automotive Aftermarket Outlook 2018 . Participants in the OEM aftermarket who embrace potential data monetisation opportunities that can be optimised by enhanced customer accessibility widening B2B networks and expanding product and service portfolios will capitalise on current value-add opportunities and ensure future success according to the report. The development of applications to leverage data collection from on-road...
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Global automotive aftermarket demand is expected to increase by 4.4 per cent during 2018, with a slowdown anticipated in some developed markets, according to a new report from growth partnership company Frost & Sullivan.
Telematics, e-commerce and 3D printing will form key foundations in the evolution of the original equipment manufacturer (OEM) aftersales channel, with OEMs attempting to integrate all aftersales services into a single, digital platform, said the report titled “Global Automotive Aftermarket Outlook, 2018”.
Participants in the OEM aftermarket who embrace potential data monetisation opportunities that can be optimised by enhanced customer accessibility, widening B2B networks, and expanding product and service portfolios, will capitalise on current value-add opportunities and ensure future success, according to the report.
“The development of applications to leverage data collection from on-road...
Emirates NBD a leading financial institution in the region was named The Best Retail Bank in the Middle East and The Best Retail Bank in the UAE at the recent The Asian Banker s International Excellence in Retail Financial Services 2018 Awards. Liv. Emirates NBD s digital lifestyle bank for millennials was recognised as The Best Digital Bank in the Middle East only one year into its operations. Emirates NBD was also honoured with The Best Internet Banking Application award internationally at the awards ceremony held in Malaysia recently. Suvo Sarkar senior executive vice president & head - Retail Banking & Wealth Management Emirates NBD said: We are truly honoured to be recognised for the third time in recent years as the best retail bank in the region at the prestigious Asian Banker awards. This is a recognition of our commitment to make banking simple has...
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Emirates NBD, a leading financial institution in the region, was named ‘The Best Retail Bank in the Middle East’, and ‘The Best Retail Bank in the UAE’ at the recent The Asian Banker's International Excellence in Retail Financial Services 2018 Awards.
Liv., Emirates NBD’s digital lifestyle bank for millennials was recognised as ‘The Best Digital Bank in the Middle East’ only one year into its operations. Emirates NBD was also honoured with ‘The Best Internet Banking Application’ award internationally at the awards ceremony held in Malaysia recently.
Suvo Sarkar, senior executive vice president & head - Retail Banking & Wealth Management, Emirates NBD said: “We are truly honoured to be recognised, for the third time in recent years, as the best retail bank in the region at the prestigious Asian Banker awards. This is a recognition of our commitment to make banking simple, has...
Mobile devices have changed how we work and navigate daily life which means there s a tremendous opportunity to capitalize on the growing use of mobile apps. Location-based services mean that retailers can leverage mobile devices and Bluetooth technology to provide offers to customers and prospects help customers and employees navigate within locations and locate friends assets and services. Deploying location services however can present some challenges. IT may have to learn new technologies and processes as most retailers have little to no experience implementing these types of solutions. And some solutions may require IT to purchase and manage dedicated infrastructure. The good news is that in many cases organizations already possess the technology needed to deploy location services. Bluetooth Low Energy (BLE) is prevalent on popular iOS and Android devices and meets the required accuracy and latency demands for multiple use cases. In addition Wi-...
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Mobile devices have changed how we work and navigate daily life, which means there’s a tremendous opportunity to capitalize on the growing use of mobile apps. Location-based services mean that retailers can leverage mobile devices and Bluetooth technology to provide offers to customers and prospects, help customers and employees navigate within locations, and locate friends, assets and services.
Deploying location services, however, can present some challenges. IT may have to learn new technologies and processes, as most retailers have little to no experience implementing these types of solutions. And some solutions may require IT to purchase and manage dedicated infrastructure. The good news is that in many cases, organizations already possess the technology needed to deploy location services. Bluetooth Low Energy (BLE) is prevalent on popular iOS and Android devices, and meets the required accuracy and latency demands for multiple use cases. In addition, Wi-...
The Sharjah Investment and Development Authority (Shurooq) and master developer Nakheel have collaborated in a joint venture that will bring a new community retail centre to Sharjah. The project - Nakheel s first outside its home emirate of Dubai - has an estimated development value of Dh75 million. The project to be developed by Nakheel and managed by its retail subsidiary Nakheel Malls joins an ever-growing collection in Nakheel s retail portfolio which currently includes 11 large-scale concepts and seven neighbourhood retail hubs known as Nakheel Pavilions like the one to be built in Sharjah. Design work is underway and details about the new project to be unveiled this year. The two organisations will create a shopping dining and leisure hub in Sharjah s rapidly-expanding Al Rahmaniya district said Shurooq CEO Marwan bin Jassim Al Sarkal after signing the agreement with Nakheel CEO Sanjay Manchanda. ...
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The Sharjah Investment and Development Authority (Shurooq) and master developer Nakheel have collaborated in a joint venture, that will bring a new community retail centre to Sharjah.
The project - Nakheel’s first outside its home emirate of Dubai - has an estimated development value of Dh75 million.
The project, to be developed by Nakheel and managed by its retail subsidiary, Nakheel Malls, joins an ever-growing collection in Nakheel’s retail portfolio, which currently includes 11 large-scale concepts and seven neighbourhood retail hubs, known as Nakheel Pavilions, like the one to be built in Sharjah. Design work is underway, and details about the new project to be unveiled this year.
The two organisations will create a shopping, dining and leisure hub in Sharjah’s rapidly-expanding Al Rahmaniya district, said Shurooq CEO Marwan bin Jassim Al Sarkal after signing the agreement with Nakheel CEO Sanjay Manchanda.
...
Volvo Construction Equipment (Volvo CE) has moved into a new dimension by introducing 3D printing in order to deliver spare parts to customers more quickly and efficiently. This latest development is part of the company s commitment to the research and development of new products said a statement. As the construction industry looks to new methods for efficient production Volvo CE is also investing in 3D printing methods in the research and development of its prototype machinery it said. Jasenko Lagumdzija manager of business support at Volvo CE said: We are supporting customers through the life cycle of their equipment. It s especially good for older machines where the parts that have worn out are no longer made efficiently in traditional production methods. Producing new parts by 3D printing cuts down on time and costs so it s an efficient way of helping customers &rdquo...
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Volvo Construction Equipment (Volvo CE) has moved into a new dimension by introducing 3D printing in order to deliver spare parts to customers more quickly and efficiently.
This latest development is part of the company’s commitment to the research and development of new products, said a statement.
As the construction industry looks to new methods for efficient production, Volvo CE is also investing in 3D printing methods in the research and development of its prototype machinery, it said.
Jasenko Lagumdzija, manager of business support at Volvo CE, said: “We are supporting customers through the life cycle of their equipment.”
“It’s especially good for older machines where the parts that have worn out are no longer made efficiently in traditional production methods. Producing new parts by 3D printing cuts down on time and costs, so it’s an efficient way of helping customers,&rdquo...
CBRE a global real estate consulting firm has been appointed as the exclusive retail leasing partner for Seventh Heaven Al Barari in Dubai UAE. Known for its luxurious properties including spacious apartments and villas Al Barari is one of the most exclusive and eco-friendly developments in the UAE. Seventh Heaven is the second phase of the Al Barari development in Dubailand intended to continue the garden experience by providing a series of cascading apartments with large terraces a 6-star boutique hotel resort and a retail promenade. Comprising of two residential buildings spread across 10 and 12 floors and 157 apartments Seventh Heaven will feature a wide retail mix including restaurants and lifestyle dining skincare boutiques and salons banks and Yoga &Pilates fitness centers. The residential component is due for completion starting July 2018 and the Retail component due to be operational by Q4 2018. An...
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CBRE, a global real estate consulting firm, has been appointed as the exclusive retail leasing partner for Seventh Heaven, Al Barari in Dubai, UAE.
Known for its luxurious properties including spacious apartments and villas, Al Barari is one of the most exclusive and eco-friendly developments in the UAE. Seventh Heaven is the second phase of the Al Barari development in Dubailand, intended to continue the ‘garden’ experience by providing a series of cascading apartments with large terraces, a 6-star boutique hotel resort and a retail promenade.
Comprising of two residential buildings, spread across 10 and 12 floors and 157 apartments, Seventh Heaven will feature a wide retail mix including restaurants and lifestyle dining, skincare boutiques and salons, banks, and Yoga &Pilates fitness centers. The residential component is due for completion starting July 2018 and the Retail component due to be operational by Q4 2018.
An...
The Dubai Chamber of Commerce and Industry has announced the formation of the Retail Business Group a new organisation that aims to promote cooperation among retailers in Dubai serve common interests and promote transparency within the sector. The announcement was made during a special launch event hosted at Dubai Chamber s headquarters. The event was attended by Majid Saif Al Ghurair chairman of Dubai Chamber; Nilesh Ved chairman of the Retail Business Group; and representatives from member companies. The organisation is the 29th sector-specific business group established under the umbrella of Dubai Chamber. By supporting the business group the chamber aims to protect the interests of retailers in Dubai and provide an ideal platform for industry stakeholders to collaborate. Other objectives of the Retail Business Group include addressing common concerns of member...
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The total number of female drivers in Saudi Arabia is projected to reach three million in 2020 following the royal decree allowing women to drive by June 2018. This will have a profound impact on a number of areas ranging from car sales to motor insurance car leasing and driving schools says a report. The decision presents a great number of opportunities not only for the government strategic investors motor insurance companies car leasing companies pension funds and private investors but to the sector as whole in creating innovative solutions to serve the demand says the report published today by PwC Middle East on the occasion of International Women s Day. The report titled Women driving the transformation of KSA automotive market looks into key opportunities for the automotive market in Saudi Arabia which can be summarised in four key areas. The first of which is a priority in the Kingdom&r...
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The total number of female drivers in Saudi Arabia is projected to reach three million in 2020, following the royal decree allowing women to drive by June 2018.
This will have a profound impact on a number of areas ranging from car sales to motor insurance, car leasing and driving schools, says a report.
The decision presents a great number of opportunities not only for the government, strategic investors, motor insurance companies, car leasing companies, pension funds and private investors but to the sector as whole in creating innovative solutions to serve the demand, says the report published today by PwC Middle East on the occasion of International Women’s Day.
The report titled “Women driving the transformation of KSA automotive market”, looks into key opportunities for the automotive market in Saudi Arabia, which can be summarised in four key areas.
The first of which is a priority in the Kingdom&r...
Automotive data monetisation could offer 33 billion in opportunities for original equipment manufacturers (OEMs) by 2025 a report says. The highlights the potential to monetise 100 per car currently and delves into how data monetisation across the automotive ecosystem starts with an overarching digital strategy. Over 200 data points exist today that can typically provide more than 140 use cases with the vehicles generating a value of almost 100 per car says the Frost & Sullivan s analysis Automotive Data Monetization Pricing and Business Models. To build a recurring service revenue stream or prescribe measurable objectives digital innovation is mandatory it says. However the automotive industry has to master software capabilities and introduce new monetisation models to remain profitable. The total number of connected...
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Middle East sales revenue from engine and car components systems tyres and auto accessories will surpass the 15 billion mark by 2021 compared to approximately 12.4 billion in 2017 growing at a compound annual growth rate (CAGR) of 4.9 per cent according to a report by TechSci Research a global market research and consulting company. The global automotive aftermarket manufacturers are gearing up for period of robust business growth in the Middle East while new research indicates car sales and the corresponding demand for spare parts and auto services is on an upward trend. IQR is a Spanish producer of lubricants under the brand name Matrix and is launching its operations in the Gulf region to find new partners while Autopumps from the UK is testing the regional waters for the supply of its aftermarket parts not only for the automotive industry but for industrial agricultural and marine applications. And Cyprus headquarter...
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Middle East sales revenue from engine and car components, systems, tyres, and auto accessories, will surpass the $15 billion mark by 2021, compared to approximately $12.4 billion in 2017, growing at a compound annual growth rate (CAGR) of 4.9 per cent, according to a report by TechSci Research, a global market research and consulting company.
The global automotive aftermarket manufacturers are gearing up for period of robust business growth in the Middle East, while new research indicates car sales and the corresponding demand for spare parts and auto services is on an upward trend.
IQR is a Spanish producer of lubricants under the brand name Matrix, and is launching its operations in the Gulf region to find new partners, while Autopumps from the UK is testing the regional waters for the supply of its aftermarket parts not only for the automotive industry, but for industrial, agricultural, and marine applications.
And Cyprus headquarter...
Moda Mall Bahrain s luxury shopping destination has announced the leasing of 600-sq-m of retail space with seven new outlets of lifestyle experiences added to its portfolio of mall offerings over the past year. This led to an increase of 3.4 per cent in mall s leased retail space in 2017 featuring a portfolio of fashion brands commanding 72 per cent jewellery brands 15 per cent and culinary brands 13 per cent. This growth is attributed to new leases including additional fashion lifestyle and culinary offerings that further add a sense of novelty to Moda Mall and offer an unparalleled experience to its savvy consumers. Among the recent brands to launch their retail offerings at the mall include British Master Perfumer Roja Dove s Roja Parfums; one of the finest Italian luxury furniture brands Bakokko; and an exquisite selection of decorative artefacts Limited Edition. The mall has also enhanced its fashion and c...
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Moda Mall, Bahrain’s luxury shopping destination, has announced the leasing of 600-sq-m of retail space with seven new outlets of lifestyle experiences added to its portfolio of mall offerings over the past year.
This led to an increase of 3.4 per cent in mall’s leased retail space in 2017, featuring a portfolio of fashion brands commanding 72 per cent, jewellery brands 15 per cent and culinary brands 13 per cent.
This growth is attributed to new leases including additional fashion, lifestyle and culinary offerings, that further add a sense of novelty to Moda Mall and offer an unparalleled experience to its savvy consumers. Among the recent brands to launch their retail offerings at the mall include British Master Perfumer Roja Dove’s Roja Parfums; one of the finest Italian luxury furniture brands, Bakokko; and an exquisite selection of decorative artefacts, Limited Edition.
The mall has also enhanced its fashion and c...
UAE-based telecom group Etisalat has launched its Mobile Cashier service for the Small and Medium Business (SMB) segment in the country giving them a hassle-free on boarding and affordable mobile point-of-sale service. The service enables these businesses to accept card payments from their customers and at the same time enjoy valuable mobile business plan benefits anywhere in UAE a statement said. Etisalat s Mobile Cashier service transforms merchants smart devices like phones or tablets into business-grade point of sale terminals enabling them to accept debit credit and pre-paid cards in a secure and simple-to-use environment. The Mobile Cashier service is enriched from its first inception and improved to specifically cater for the needs of the SMB segment. The latest offering includes bundled point-of-sale terminals attractive mobile voice and data plans a free smartphone every year and for the very first time in U...
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UAE-based telecom group Etisalat has launched its Mobile Cashier service for the Small and Medium Business (SMB) segment in the country giving them a hassle-free on boarding and affordable mobile point-of-sale service.
The service enables these businesses to accept card payments from their customers, and at the same time enjoy valuable mobile business plan benefits anywhere in UAE, a statement said.
Etisalat’s Mobile Cashier service transforms merchants’ smart devices like phones or tablets into business-grade point of sale terminals, enabling them to accept debit, credit and pre-paid cards in a secure and simple-to-use environment.
The Mobile Cashier service is enriched from its first inception and improved to specifically cater for the needs of the SMB segment. The latest offering includes bundled point-of-sale terminals, attractive mobile voice and data plans, a free smartphone every year, and for the very first time in U...
Honeywell and LG Electronics have signed a memorandum of understanding (MoU) to develop a unique automotive software technology and infrastructure solution to address threats associated with the increase in vehicle connectivity technology. The two companies showcased a collaborative cybersecurity solution at the 2018 Consumer Electronics Show in Las Vegas earlier this month and at the recently concluded 2018 North American International Auto Show in Detroit US said a statement. The collaboration between LG and Honeywell is focused on providing automakers a next generation cybersecurity solution for system communications within the vehicle as well as the increasing amount of external communications via cellular and satellite connectivity it said. The two companies are focused on the unserved needs of the auto industry to cover the entire cybersecurity chain from individual gateway protection through threat monitoring of f...
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Honeywell and LG Electronics have signed a memorandum of understanding (MoU) to develop a unique automotive software technology and infrastructure solution to address threats associated with the increase in vehicle connectivity technology.
The two companies showcased a collaborative cybersecurity solution at the 2018 Consumer Electronics Show in Las Vegas earlier this month, and at the recently concluded 2018 North American International Auto Show in Detroit, US, said a statement.
The collaboration between LG and Honeywell is focused on providing automakers a next generation cybersecurity solution for system communications within the vehicle as well as the increasing amount of external communications via cellular and satellite connectivity, it said.
The two companies are focused on the unserved needs of the auto industry to cover the entire cybersecurity chain from individual gateway protection through threat monitoring of f...
Kuwait s leading property developer Tamdeen Group has announced that its Al Kout Project the largest waterfront retail and entertainment destination in the country has entered the final stages of construction. Occupying a plot of 300 000 sq m Al Kout Project offers six diverse experiences reflecting the unique architectural heritage of Kuwait. The most modern of these experiences is Al Kout Mall which is expected to open for visitors during the first quarter of 2018 said the developer. The mall will increase the overall leasing area of Al Kout Project to 100 000 sq m it stated. The KD123 million ( 407 million) Al Kout Project compromises 360 stores and a 12-screen cinema which is equipped with the latest Imax and 4DX systems and will be managed by Kuwait National Cinema Company (Cinescape). Dining features prominently at Al Kout Mall with an array of local and international restaurants and cafes including 11 K...
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Kuwait’s leading property developer Tamdeen Group has announced that its Al Kout Project, the largest waterfront retail and entertainment destination in the country, has entered the final stages of construction.
Occupying a plot of 300,000 sq m, Al Kout Project offers six diverse experiences reflecting the unique architectural heritage of Kuwait. The most modern of these experiences is Al Kout Mall, which is expected to open for visitors during the first quarter of 2018, said the developer.
The mall will increase the overall leasing area of Al Kout Project to 100,000 sq m, it stated.
The KD123 million ($407 million) Al Kout Project compromises 360 stores and a 12-screen cinema, which is equipped with the latest Imax and 4DX systems and will be managed by Kuwait National Cinema Company (Cinescape).
Dining features prominently at Al Kout Mall, with an array of local and international restaurants and cafes, including 11 K...
Commercial Bank International (CBI) a UAE bank headquartered in Dubai has announced the appointment of Shaker Zainal as the head of Retail Banking. A seasoned Emirati banking executive with almost 20 years of experience in retail banking across the Middle East Zainal joins CBI from Mashreq Bank where he was the head of Retail Banking for Egypt. Prior to this he held several senior management roles with HSBC Bank in the UAE heading the branch network and Corporate Customer Service. Zainal said: I am delighted to join CBI during such an important phase of growth. Among my priorities will be to grow CBI First which was recently launched to provide our customers with an exclusive priority banking experience with best in class benefits and privileges and to continue to improve the quality of the services we offer. We will also continue to invest in digital banking and advanced technologies to enable our customers to e...
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Commercial Bank International (CBI), a UAE bank headquartered in Dubai, has announced the appointment of Shaker Zainal as the head of Retail Banking.
A seasoned Emirati banking executive with almost 20 years of experience in retail banking across the Middle East, Zainal joins CBI from Mashreq Bank, where he was the head of Retail Banking for Egypt. Prior to this, he held several senior management roles with HSBC Bank in the UAE, heading the branch network and Corporate Customer Service.
Zainal said: “I am delighted to join CBI during such an important phase of growth. Among my priorities will be to grow CBI First, which was recently launched to provide our customers with an exclusive priority banking experience, with best in class benefits and privileges, and to continue to improve the quality of the services we offer.
“We will also continue to invest in digital banking and advanced technologies, to enable our customers to e...
The Dubai Chamber of Commerce and Industry has revealed the formation of the Automotive Manufacturers Business Group which will be tasked with developing and advancing Dubai s automotive industry said a report. The organisation is the 28th sector-specific business group established under the umbrella of Dubai Chamber reported state news agency Wam. By supporting the business group the chamber aims to protect the interests of automotive companies in Dubai and provide a platform for industry stakeholders to collaborate it said. Other objectives of the group include establishing an open dialogue between manufacturers and authorities assisting government entities with certification and regulation and unifying industry standards. Hamad Buamim president and CEO of Dubai Chamber described the formation of the new business group a positive development as it enhances the competitiveness of Dubai s private se...
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The Dubai Chamber of Commerce and Industry has revealed the formation of the Automotive Manufacturers Business Group, which will be tasked with developing and advancing Dubai’s automotive industry, said a report.
The organisation is the 28th sector-specific business group established under the umbrella of Dubai Chamber, reported state news agency Wam.
By supporting the business group, the chamber aims to protect the interests of automotive companies in Dubai, and provide a platform for industry stakeholders to collaborate, it said.
Other objectives of the group, include establishing an open dialogue between manufacturers and authorities, assisting government entities with certification and regulation, and unifying industry standards.
Hamad Buamim, president and CEO of Dubai Chamber, described the formation of the new business group a positive development as it enhances the competitiveness of Dubai’s private se...
Saudi Arabia s automotive parts aftermarket is undergoing significant changes that are pushing companies to realign their business models with new conditions according to a recent Frost & Sullivan report. The industry docket titled Auto Component Aftermarket Outlook Saudi Arabia (KSA) 2017 revealed that the declining demand for new cars growing competition and change in brand preferences are opening up fresh business opportunities for parts suppliers distributors and retailers. The report found that despite current challenges the market is set to experience an annual growth rate of 5.9 per cent from 2017 to 2022 with over 10 million vehicles in operation by 2022. The docket shows the potential of Saudi Arabia s parts aftermarket across light medium and heavy vehicles and the key forces behind future development including vehicle sales and vehicles-in-operation changes. Addition...
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Saudi Arabia’s automotive parts aftermarket is undergoing significant changes that are pushing companies to realign their business models with new conditions, according to a recent Frost & Sullivan report.
The industry docket, titled ‘Auto Component Aftermarket Outlook, Saudi Arabia (KSA), 2017’, revealed that the declining demand for new cars, growing competition, and change in brand preferences are opening up fresh business opportunities for parts suppliers, distributors, and retailers.
The report found that despite current challenges, the market is set to experience an annual growth rate of 5.9 per cent from 2017 to 2022, with over 10 million vehicles in operation by 2022.
The docket shows the potential of Saudi Arabia’s parts aftermarket across light, medium, and heavy vehicles, and the key forces behind future development, including vehicle sales and vehicles-in-operation changes.
Addition...
Mega-malls are boosting the GCC s retail market to nearly 300 billion by 2018 driving investment in aluminium ceilings to enhance the customer experience mall safety and sustainability industry experts said. Thanks to new mega-malls from Mall of the World in Dubai to Al Maryah Central in Abu Dhabi and Mall of Saudi in Riyadh and mega-events like Expo 2020 Dubai driving tourism growth the GCC s retail market is set to grow by 15 per cent from 253 billion in 2016 to 290 billion by 2018 according to a recent Ardent Advisory report. GCC mall customers want a more comfortable shopping experience with relaxing lighting and less noise interference. In response to customer demands GCC retailers are investing in high-performance and light aluminium ceilings which can provide an enhanced shopping experience and increase customer dwell time and revenue said Frans van de Laak general manager at Hunter Douglas Middle Ea...
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Mega-malls are boosting the GCC's retail market to nearly $300 billion by 2018, driving investment in aluminium ceilings to enhance the customer experience, mall safety and sustainability, industry experts said.
Thanks to new mega-malls from Mall of the World in Dubai, to Al Maryah Central in Abu Dhabi and Mall of Saudi in Riyadh, and mega-events like Expo 2020 Dubai driving tourism growth, the GCC's retail market is set to grow by 15 per cent from $253 billion in 2016 to $290 billion by 2018, according to a recent Ardent Advisory report.
“GCC mall customers want a more comfortable shopping experience – with relaxing lighting and less noise interference. In response to customer demands, GCC retailers are investing in high-performance and light aluminium ceilings, which can provide an enhanced shopping experience, and increase customer dwell time and revenue,” said Frans van de Laak, general manager at Hunter Douglas Middle Ea...
City Centre Ajman a leading retail destination in the norther emirates is taking the shopping experience to the next level as it launches a new wing with top global brands and restaurants that make their debut in the emirate. Majid Al Futtaim a leading retail and leisure pioneer in the region said the opening of the new wing reiterates its promise to bring an unparalleled shopping and entertainment experience to the Northern Emirates and its strategy to increase total investment in the UAE by Dh30 billion by 2026. The mall will continue to transform with many more new stores and restaurants opening in 2018 that will offer great moments for everyone every day. The mall has grown from 29 000 to 55 672 sq m in size as part of the ongoing redevelopment said a statement from Majid Al Futtaim. The modern design of the extended wing with a skylight roof allowing natural light to stream into the mall during the day a...
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City Centre Ajman, a leading retail destination in the norther emirates, is taking the shopping experience to the next level as it launches a new wing with top global brands and restaurants that make their debut in the emirate.
Majid Al Futtaim, a leading retail and leisure pioneer in the region, said the opening of the new wing reiterates its promise to bring an unparalleled shopping and entertainment experience to the Northern Emirates and its strategy to increase total investment in the UAE by Dh30 billion by 2026.
The mall will continue to transform with many more new stores and restaurants opening in 2018 that will offer great moments for everyone, every day.
The mall has grown from 29,000 to 55,672 sq m in size as part of the ongoing redevelopment, said a statement from Majid Al Futtaim.
The modern design of the extended wing with a skylight roof allowing natural light to stream into the mall during the day a...
Oman s Special Economic Zone (SEZ) at Duqm is expected to receive investments in a wide array of automotive components and vehicle parts manufacturing plants following the launch of Oman s first bus manufacturing project said a report. The cornerstone for the bus manufacturing project was laid last week added the Oman Daily Observer report. According to officials the joint Omani-Qatari backed Karwa Motors bus manufacturing venture will create opportunities for local small businesses and vendors to set up ancillary plants dedicated to the manufacture of spare parts for the sultanate s maiden bus project as well as future automotive investments envisioned in the SEZ it said. An official added that while Karwa Motors will initially commence operations with the assembly of buses and coaches arriving in Duqm as complete-knocked-down (CKD) units over time our plant will evolve into a full-fledged manufacturing complex ...
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Oman’s Special Economic Zone (SEZ) at Duqm is expected to receive investments in a wide array of automotive components and vehicle parts manufacturing plants, following the launch of Oman’s first bus manufacturing project, said a report.
The cornerstone for the bus manufacturing project was laid last week, added the Oman Daily Observer report.
According to officials, the joint Omani-Qatari backed Karwa Motors bus manufacturing venture will create opportunities for local small businesses and vendors to set up ancillary plants dedicated to the manufacture of spare parts for the sultanate’s maiden bus project as well as future automotive investments envisioned in the SEZ, it said.
An official added that while Karwa Motors will initially commence operations with the assembly of buses and coaches arriving in Duqm as complete-knocked-down (CKD) units, over time our plant will evolve into a full-fledged manufacturing complex,...
The automotive refinish coating market is directly linked to the automotive market and has seen substantial growth in the last decade and is projected to record a compound annual growth rate (CAGR) of 5.7 per cent from 2017 to 2022 according to a report. This is primarily due to rapid growth in vehicle ownership in emerging economies with a resultant increase in the accident rate said the Global Market Study on Automotive Refinish Coating: Close Call Between Solvent-Borne and Water-Borne Coatings by Persistence Market Research. Greater governmental regulations with respect to high volatile organic compounds may further impact the growth of automotive refinish coating market. Polyurethane has the maximum potential in automotive refinish coating market and is anticipated to gain share at the expense of other resin type segments in 2017. The polyurethane segment is predicted to be worth just under 4.7 billio...
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The automotive refinish coating market is directly linked to the automotive market and has seen substantial growth in the last decade, and is projected to record a compound annual growth rate (CAGR) of 5.7 per cent from 2017 to 2022, according to a report.
This is primarily due to rapid growth in vehicle ownership in emerging economies with a resultant increase in the accident rate, said the "Global Market Study on Automotive Refinish Coating: Close Call Between Solvent-Borne and Water-Borne Coatings" by Persistence Market Research.
Greater governmental regulations with respect to high volatile organic compounds may further impact the growth of automotive refinish coating market.
Polyurethane has the maximum potential in automotive refinish coating market and is anticipated to gain share at the expense of other resin type segments in 2017.
The polyurethane segment is predicted to be worth just under $ 4.7 billio...
With retail sales continuing to increase considerably thanks to the growing participation by women in its workforce this could be the first sector to recover in the Riyadh real estate market said a report by property expert JLL. The women employees increased one per cent quarter-on-quarter to reach a total number of 397 000. Furthermore recent laws introduced to allow women to drive from 2018 will likely increase the spending power of women in Saudi resulting in increased demand for retail space styted the JLL in its Q3 market Overview report. As the government launched the 2.6 billion entertainment company in September Shoppertainment remains a key concept in the retail industry among entertainment leisure and F&B (food and beverages) tenants. The government s agenda very much focuses on expanding the tourism and entertainment sector. As a result government spending has increased in...
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With retail sales continuing to increase considerably, thanks to the growing participation by women in its workforce, this could be the first sector to recover in the Riyadh real estate market, said a report by property expert JLL.
The women employees increased one per cent quarter-on-quarter, to reach a total number of 397,000.
Furthermore, recent laws introduced to allow women to drive from 2018, will likely increase the spending power of women in Saudi, resulting in increased demand for retail space, styted the JLL in its 'Q3 market Overview' report.
As the government launched the $2.6 billion entertainment company in September, Shoppertainment remains a key concept in the retail industry among entertainment, leisure and F&B (food and beverages) tenants.
“The government’s agenda very much focuses on expanding the tourism and entertainment sector. As a result, government spending has increased in...
Retail investors are expecting to increase factor allocations to 17 per cent by 2022 putting portfolio allocations on an almost level playing field with institutional investors expecting to increase allocations to 18 per cent in the next five years. Factor allocations are expected to rise significantly over the next five years added the second annual Invesco Global Factor Investing Study with an increasing demand amongst investors for fixed income and multi-asset multi-factor strategies. The qualitative and quantitative study which was conducted with108 different global pension funds insurers sovereign wealth funds financial advisers asset consultants private banks and intermediaries across 19 countries who in total account for well in excess of 7 trillion in AUM reveals an increase in both adoption of and allocations to factor products. It is expected to rise over a five year horizon with investors adoption intentions accelera...
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Retail investors are expecting to increase factor allocations to 17 per cent by 2022, putting portfolio allocations on an almost level playing field with institutional investors expecting to increase allocations to 18 per cent in the next five years.
Factor allocations are expected to rise significantly over the next five years, added the second annual Invesco Global Factor Investing Study, with an increasing demand amongst investors for fixed income and multi-asset multi-factor strategies.
The qualitative and quantitative study, which was conducted with108 different global pension funds, insurers, sovereign wealth funds, financial advisers, asset consultants, private banks and intermediaries across 19 countries who in total account for well in excess of $7 trillion in AUM, reveals an increase in both adoption of and allocations to factor products. It is expected to rise over a five year horizon with investors’ adoption intentions accelera...
Saudi Arabia s Sabic a global leader in diversified chemicals has announced that it is introducing new materials for customers producing LED automotive lighting parts. Lexan HF4010SR resin is one of the new offerings. This polycarbonate (PC) material can make it possible for customers to develop complex headlight bezels with enhanced aesthetics. Sabic has also added new grades to its existing Lexan XHT resin line which can offer improved flow at high temperatures compared to other high-heat polycarbonate materials available today. Sabic s new materials targeting forward lighting parts come at a time when the complexity of these applications continues to increase. Current high-end LED headlamps weigh close to six kilograms with up to 200 components thanks to the additional functionality they incorporate. Automakers are also striving to create highly distinctive lighting parts to help differentiate and increase the appeal of their vehicl...
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Saudi Arabia’s Sabic, a global leader in diversified chemicals, has announced that it is introducing new materials for customers producing LED automotive lighting parts.
Lexan HF4010SR resin is one of the new offerings. This polycarbonate (PC) material can make it possible for customers to develop complex headlight bezels with enhanced aesthetics. Sabic has also added new grades to its existing Lexan XHT resin line, which can offer improved flow at high temperatures compared to other high-heat polycarbonate materials available today.
Sabic’s new materials targeting forward lighting parts come at a time when the complexity of these applications continues to increase. Current high-end LED headlamps weigh close to six kilograms with up to 200 components, thanks to the additional functionality they incorporate. Automakers are also striving to create highly distinctive lighting parts to help differentiate and increase the appeal of their vehicl...
A number of industry leaders have initiated the formation of the Automotive Edge Computing Consortium for network and computing infrastructure of automotive big data. The companies include: Denso Corporation Ericsson Intel Corporation Nippon Telegraph and Telephone Corporation (NTT) NTT Docomo Toyota InfoTechnology Center Co and Toyota Motor Corporation said a statement. The objective of the consortium is to develop an ecosystem for connected cars to support emerging services such as intelligent driving the creation of maps with real-time data and driving assistance based on cloud computing it added. It is estimated that the data volume between vehicles and the cloud will reach 10 exabytes per month around 2025 approximately 10 000 times larger than the present volume it said. This expected increase will trigger the need for new architectures of network and computing infrastructure to support distributed resour...
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A number of industry leaders have initiated the formation of the Automotive Edge Computing Consortium for network and computing infrastructure of automotive big data.
The companies include: Denso Corporation, Ericsson, Intel Corporation, Nippon Telegraph and Telephone Corporation (NTT), NTT Docomo, Toyota InfoTechnology Center Co, and Toyota Motor Corporation, said a statement.
The objective of the consortium is to develop an ecosystem for connected cars to support emerging services such as intelligent driving, the creation of maps with real-time data and driving assistance based on cloud computing, it added.
It is estimated that the data volume between vehicles and the cloud will reach 10 exabytes per month around 2025, approximately 10,000 times larger than the present volume, it said.
This expected increase will trigger the need for new architectures of network and computing infrastructure to support distributed resour...
Diyar Al Muharraq one of the leading urban developers in Bahrain has revealed its latest development Noor Plaza. Located within Diyar Homes Noor Plaza is an all new retail centre dedicated to exclusively serving the residents of the community and visitors to the development with provisions to establish a range of diverse all-inclusive outlets that will cater to their every need said the company. With Diyar Homes being one of Diyar Al Muharraq s most socially integral projects all adequate measures have been planned right from the outset to comprehensively cater to its inhabitants and Noor Plaza is envisioned to play a vital part in the fulfillment of that vision it said. The plaza includes a range of services such as a children s playground as well as a multi-purpose outdoor court which may be used for football basketball handball and volleyball. These recreational facilities are currently available and op...
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Diyar Al Muharraq, one of the leading urban developers in Bahrain, has revealed its latest development, Noor Plaza.
Located within Diyar Homes, Noor Plaza is an all new retail centre dedicated to exclusively serving the residents of the community and visitors to the development, with provisions to establish a range of diverse, all-inclusive outlets that will cater to their every need, said the company.
With Diyar Homes being one of Diyar Al Muharraq’s most socially integral projects, all adequate measures have been planned right from the outset to comprehensively cater to its inhabitants, and Noor Plaza is envisioned to play a vital part in the fulfillment of that vision, it said.
The plaza includes a range of services such as a children’s playground as well as a multi-purpose outdoor court which may be used for football, basketball, handball and volleyball. These recreational facilities are currently available and op...
City Centre Ajman is set to become bigger and better with new restaurants boasting al fresco dining cafes stylish retail outlets and value stores. The mall which is owned and operated by Majid Al Futtaim a leading shopping mall retail and leisure pioneer across the Middle East and North Africa is undergoing a comprehensive Dh600-million ( 163.35 million) redevelopment to almost double in size from 29 000 sq m to 52 000 sq m. Taking into consideration customers feedback and request for more F&B and retail options in Ajman the redevelopment will see the addition of more than 10 new stores this year. Several brands will also be making their debut in Ajman as part of the new phase a statement said. City Centre Ajman will become the centre for family gatherings with new international restaurants offering al fresco dining to enjoy the outdoors. Diners can feast on freshly made Italian pizzas at the new Pizza Express...
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City Centre Ajman is set to become bigger and better with new restaurants boasting al fresco dining, cafes, stylish retail outlets and value stores.
The mall, which is owned and operated by Majid Al Futtaim, a leading shopping mall, retail and leisure pioneer across the Middle East and North Africa, is undergoing a comprehensive Dh600-million ($163.35 million) redevelopment to almost double in size, from 29,000 sq m to 52,000 sq m.
Taking into consideration customers’ feedback and request for more F&B and retail options in Ajman, the redevelopment will see the addition of more than 10 new stores this year. Several brands will also be making their debut in Ajman as part of the new phase, a statement said.
City Centre Ajman will become the centre for family gatherings with new international restaurants offering al fresco dining to enjoy the outdoors. Diners can feast on freshly made Italian pizzas at the new Pizza Express...
Bahrain s homegrown hospitality group Al Abraaj Restaurants Group is diversifying its portfolio with new culinary concepts and nine new dine-in restaurants across the kingdom. Today with seven successful brands and 35 outlets including Al Abraaj Mashawi Al Abraaj Lumee Al Bindaira Nu Asia YaSalam and TCBY the group continues to advance in the restaurant sector and will soon be venturing into the Italian-cuisine category in collaboration with the UK-based San Carlo Italian group of restaurants. With three decades of serving traditional Middle-Eastern and International flavours to the Bahrain market Al Abraaj Restaurants Group has enjoyed a growth trajectory with its homegrown brands while sustaining its dominant position despite changing trends. Over the last five years the group built two new brands Lumee and YaSalam and evolved its flagship brand Al Abraaj to introduce Mashawi Al Abraaj; and opened 10 outlets to expand the reach ...
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Bahrain’s homegrown hospitality group, Al Abraaj Restaurants Group, is diversifying its portfolio with new culinary concepts and nine new dine-in restaurants across the kingdom.
Today, with seven successful brands and 35 outlets including Al Abraaj, Mashawi Al Abraaj, Lumee, Al Bindaira, Nu Asia, YaSalam and TCBY, the group continues to advance in the restaurant sector, and will soon be venturing into the Italian-cuisine category in collaboration with the UK-based San Carlo Italian group of restaurants.
With three decades of serving traditional Middle-Eastern and International flavours to the Bahrain market, Al Abraaj Restaurants Group has enjoyed a growth trajectory with its homegrown brands while sustaining its dominant position despite changing trends. Over the last five years, the group built two new brands, Lumee and YaSalam and evolved its flagship brand, Al Abraaj, to introduce Mashawi Al Abraaj; and opened 10 outlets to expand the reach ...
UAE-based telecom provider du has opened its 76th retail store in the UAE at Abu Dhabi s Yas Mall. hosted the Grand Opening of its du s existing presence in Yas Island includes providing superior live entertainment experiences that have excited people in Abu Dhabi and the UAE at the du Forum and du Arena. Du customers in Abu Dhabi where du currently has 15 stores now have a new retail touchpoint for all services related to consumer and enterprise fixed and mobile services. During the grand opening exclusive special numbers were available and many other giveaways for the visitors at the store. It is important for us to be closer to our valued customers and we strive to offer them the best telecommunication services and increased convenience. It is our intention to reach out to our customers wherever they are located in Abu Dhabi and across the rest of the UAE so that we can provide them easier access to our servic...
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UAE-based telecom provider du has opened its 76th retail store in the UAE at Abu Dhabi’s Yas Mall.
hosted the Grand Opening of its du’s existing presence in Yas Island includes providing superior live entertainment experiences that have excited people in Abu Dhabi and the UAE at the du Forum and du Arena.
Du customers in Abu Dhabi, where du currently has 15 stores, now have a new retail touchpoint for all services related to consumer and enterprise fixed and mobile services. During the grand opening, exclusive special numbers were available, and many other giveaways for the visitors at the store.
“It is important for us to be closer to our valued customers and we strive to offer them the best telecommunication services and increased convenience. It is our intention to reach out to our customers wherever they are located in Abu Dhabi and across the rest of the UAE, so that we can provide them easier access to our servic...
Oman Drydock Company (ODC) a shipyard specialising in ship repair and conversion has completed the drydocking and maintenance of two ultra large ore carriers Liwa Max and Sohar Max of Oman Shipping Company (OSC) said a report. The move strengthens the vital partnership that will extend across a number of subsidiaries of the ASYAD Group (formerly Oman Global Logistics Group) the holding company of state-owned assets in port transport shipping and logistics entities added the Oman Daily Observer report. Abdulrahman al Hatmi CEO of ASYAD Group said that the partnership is one of the highlights of the group s achievements which will help optimise the utilisation of its various capabilities and resources in fuelling Oman s economic development and boosting returns on government investments in the group it added. ...
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Oman Drydock Company (ODC), a shipyard specialising in ship repair and conversion, has completed the drydocking and maintenance of two ultra large ore carriers, Liwa Max and Sohar Max, of Oman Shipping Company (OSC), said a report.
The move strengthens the vital partnership that will extend across a number of subsidiaries of the ASYAD Group (formerly Oman Global Logistics Group), the holding company of state-owned assets in port, transport, shipping and logistics entities, added the Oman Daily Observer report.
Abdulrahman al Hatmi, CEO of ASYAD Group, said that the partnership is one of the highlights of the group’s achievements which will help optimise the utilisation of its various capabilities and resources in fuelling Oman’s economic development and boosting returns on government investments in the group, it added.
Gulf International Bank (GIB) a leading bank in the Middle East region said it has been granted a conventional retail banking licence by the Central Bank of Bahrain. Bahrain-based GIB is owned by the governments of the six GCC countries with Saudi Arabia s Public Investment Fund being the principal shareholder of 97.2 per cent. In addition to the GCC operations it has branches in the US and the UK. The licence is an important milestone for GIB as it will help boost the bank s presence in the kingdom and pave the way for further expansion across the GCC said a statement from the bank. Lauding the Bahraini authorities for the support chairman Jammaz bin Abdullah Al Suhaimi said GIB had been a major contributor to the kingdom s financial services sector over the last 40 years. He also highlighted the banks continued commitment to diversify and further strengthen its operations in Bahrain and the region. b...
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Gulf International Bank (GIB), a leading bank in the Middle East region, said it has been granted a conventional retail banking licence by the Central Bank of Bahrain.
Bahrain-based GIB is owned by the governments of the six GCC countries, with Saudi Arabia’s Public Investment Fund being the principal shareholder of 97.2 per cent. In addition to the GCC operations, it has branches in the US and the UK.
The licence is an important milestone for GIB as it will help boost the bank’s presence in the kingdom and pave the way for further expansion across the GCC, said a statement from the bank.
Lauding the Bahraini authorities for the support, chairman Jammaz bin Abdullah Al Suhaimi said GIB had been a major contributor to the kingdom's financial services sector over the last 40 years. He also highlighted the banks' continued commitment to diversify and further strengthen its operations in Bahrain and the region.
The development and advancement of online retail will surpass traditional retail and transform the region s consumers shopping experience said a report. The sector is witnessing game-changing developments with industry players coming into the Middle East s retail market according PwC Middle East s latest report titled Retail Disruption - what s the outlook for the Middle East? Norma Taki retail and consumer partner at PwC Middle East said: Our findings tell us that the face of Middle Eastern retail is indeed changing and it is a ripe market full of opportunities. The appetite for investing in online retail continues to grow with high profile acquisitions from heavyweight players such as Amazon and Souq.com and JadoPado.com along with the anticipated launch of Noon which is due to have a big impact on the region. With the online retail landscape changing on a daily ba...
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The development and advancement of online retail will surpass traditional retail and transform the region’s consumers’ shopping experience, said a report.
The sector is witnessing game-changing developments with industry players coming into the Middle East’s retail market, according PwC Middle East’s latest report titled “Retail Disruption - what’s the outlook for the Middle East?”
Norma Taki, retail and consumer partner at PwC Middle East, said: “Our findings tell us that the face of Middle Eastern retail is indeed changing and it is a ripe market full of opportunities.”
“The appetite for investing in online retail continues to grow with high profile acquisitions from heavyweight players such as Amazon and Souq.com and JadoPado.com, along with the anticipated launch of Noon which is due to have a big impact on the region. With the online retail landscape changing on a daily ba...
Leading Dubai property developer Sweid & Sweid has announced the full leasing of its first development in Dubai Internet City The Edge within 10 months of its completion. The premier 100 000-sq-ft office building is now home to global tech outfit Oracle social media giant Snapchat who made The Edge their Middle East headquarters; and American education publisher McGraw Hill. On the leasing milestone Maher Sweid the founder and managing partner of the Dubai-based firm said: Our unique ability to recognise niche development investment and build-to-suit opportunities has resulted in huge success here in the Middle East by delivering excellent returns to our investors and value-for-money to the end users. Since launching The Edge in 2014 interest in the development has been phenomenal. When we combine the high-end interior design the quality of the build its sustainable credentials and the l...
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Leading Dubai property developer, Sweid & Sweid, has announced the full leasing of its first development in Dubai Internet City, ‘The Edge’ within 10 months of its completion.
The premier 100,000-sq-ft office building is now home to global tech outfit Oracle, social media giant Snapchat, who made The Edge their Middle East headquarters; and American education publisher McGraw Hill.
On the leasing milestone, Maher Sweid, the founder and managing partner of the Dubai-based firm, said: "Our unique ability to recognise niche development, investment and build-to-suit opportunities has resulted in huge success here in the Middle East by delivering excellent returns to our investors and value-for-money to the end users."
“Since launching The Edge in 2014, interest in the development has been phenomenal. When we combine the high-end interior design, the quality of the build, its sustainable credentials, and the l...
Etihad Etisalat (Mobily) a leading telecom services operator in Saudi Arabia said its business unit has launched a fleet management service in the Saudi market in collaboration with Machines Talk a pioneer national IoT company. Majed Alotaibi senior executive officer Strategic Planning & Marketing said: Providing fleet management service complies with Mobily Business strategy and its continuous quest to support digital transformation and developing Telecom & IT market to achieve 2030 Kingdom Vision. This service will provide several IoT added value services which are provided to government and private sector. Mobily is also utilizing its technology in order to achieve operational efficiency reducing cost and accomplishing added values to organizations. Fleet management service allows clients to manage monitor and track company vehicles at any time and place. In addition to many other features that come wit...
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Etihad Etisalat (Mobily), a leading telecom services operator in Saudi Arabia, said its business unit has launched a fleet management service in the Saudi market in collaboration with Machines Talk, a pioneer national IoT company.
Majed Alotaibi, senior executive officer Strategic Planning & Marketing, said: “Providing fleet management service complies with Mobily Business strategy and its continuous quest to support digital transformation and developing Telecom & IT market to achieve 2030 Kingdom Vision.”
This service will provide several IoT added value services which are provided to government and private sector. Mobily is also utilizing its technology in order to achieve operational efficiency, reducing cost, and accomplishing added values to organizations.
Fleet management service allows clients to manage, monitor, and track company vehicles at any time and place. In addition to many other features that come wit...
Travellers could be the saving grace for high street or brick and mortar retail with the launch of a new peer-to-peer shipping platform - AirWayBill. High street has experienced its toughest decade to date. With multiple outlets selling the same products and the rapid growth of the online marketplace traditional retail is facing oblivion. AirWayBill could be the answer in supporting traditional stores particularly those that sell hand crafted or bespoke items that are hard to obtain in resident s countries or those businesses that can t afford the expense of setting up an online store. AirWayBill allows shoppers to buy from anywhere in the world and have it delivered to them at a fraction of the cost of a courier by making use of the unused space in travellers suitcases. Khaled Sehly co-founder and managing director at AirWayBill said: As a regular traveller myself I ve been asked m...
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Travellers could be the saving grace for high street, or brick and mortar retail, with the launch of a new peer-to-peer shipping platform - AirWayBill.
High street has experienced its toughest decade to date. With multiple outlets selling the same products, and the rapid growth of the online marketplace, traditional retail is facing oblivion.
AirWayBill could be the answer in supporting traditional stores, particularly those that sell hand crafted or bespoke items that are hard to obtain in resident’s countries or those businesses that can’t afford the expense of setting up an online store.
AirWayBill allows shoppers to buy from anywhere in the world, and have it delivered to them at a fraction of the cost of a courier by making use of the unused space in travellers' suitcases.
Khaled Sehly, co-founder and managing director, at AirWayBill, said: “As a regular traveller myself, I’ve been asked m...
Dubai s new retail promotion the three-day Super Sale started today (May 18) with over 1 000 participating retail outlets offering shoppers amazing discounts of 30 90 per cent on an extensive range of items from over 250 top brands. Residents and visitors turned out in large numbers at retail outlets across the city to take advantage of the special deals offered by leading brands on apparel bags shoes cosmetics perfumes fashion accessories home furniture and much more. Shopaholics only have until May 20 to pick up unbeatable discounts from the participating brands including Aldo Al Jaber Optical Bossini Carpisa Crate & Barrel Charles & Keith Desigual Ecco Galeries La Fayette Giordano Guess Jimmy Choo Harvey Nichols and Bloomingdale s among many others. The three-day Super Sale is run by the Dubai Festivals and Retail Establishment (DFRE) an agency of the Department of Tourism and Commerce ...
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Dubai’s new retail promotion, the three-day Super Sale started today (May 18) with over 1,000 participating retail outlets offering shoppers amazing discounts of 30–90 per cent on an extensive range of items from over 250 top brands.
Residents and visitors turned out in large numbers at retail outlets across the city to take advantage of the special deals offered by leading brands on apparel, bags, shoes, cosmetics, perfumes, fashion accessories, home furniture, and much more.
Shopaholics only have until May 20 to pick up unbeatable discounts from the participating brands including Aldo, Al Jaber Optical, Bossini, Carpisa, Crate & Barrel, Charles & Keith, Desigual, Ecco, Galeries La Fayette, Giordano, Guess, Jimmy Choo, Harvey Nichols and Bloomingdale’s, among many others.
The three-day Super Sale is run by the Dubai Festivals and Retail Establishment (DFRE), an agency of the Department of Tourism and Commerce ...
Cooper Tire Europe a subsidiary of the Cooper Tire & Rubber Company has announced the appointment of Arabian Tires as its retail partner in Saudi Arabia. The announcement coincides with the launch in the kingdom of three new Cooper tyres and is the latest move in the brand s strategy to facilitate customer access to its range of high quality products across the Middle East said a statement from the company. Well established as one of the world s top tyre manufacturers Cooper Tire has been supplying world class tyres since 1914. The company produces a full range of car and 4x4 tyres which have been designed and developed to meet the demands of today s vehicles and perform to the highest standards across the world s most diverse terrain and climatic conditions. The brand is particularly relevant in Saudi Arabia as it has one of the broadest 4x4 tyre ranges of any manufacturer. Founded ...
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Cooper Tire Europe, a subsidiary of the Cooper Tire & Rubber Company, has announced the appointment of Arabian Tires as its retail partner in Saudi Arabia.
The announcement coincides with the launch in the kingdom of three new Cooper tyres, and is the latest move in the brand’s strategy to facilitate customer access to its range of high quality products across the Middle East, said a statement from the company.
Well established as one of the world's top tyre manufacturers, Cooper Tire has been supplying world class tyres since 1914. The company produces a full range of car and 4x4 tyres, which have been designed and developed to meet the demands of today’s vehicles and perform to the highest standards across the world’s most diverse terrain and climatic conditions.
The brand is particularly relevant in Saudi Arabia as it has one of the broadest 4x4 tyre ranges of any manufacturer.
Founded ...
Salini Impregilo an Italian specialist in the construction and civil engineering business has won a SR1.1 billion ( 293 million) contract from Saudi-based Al Khozama Management Company for renovation of its ambitious Al Faisaliah District in capital Riyadh. As per the agreement Salini Impregilo will upgrade Al Khozama s retail hospitality and commercial assets commencing with the renewal of the iconic Al Faisaliah Mall. A leading developer and manager of luxury hospitality retail and commercial properties in the kingdom Al Khozama Management Company said this announcement marks another strategic step forward for realising its renewed vision to be the leading thinker developer creator and manager of luxury properties in Saudi Arabia and beyond. Designed by award winning architects Gensler the redevelopment plans for the mall promises a larger and richer luxury shopping experience adding over 16 000 sq m of hitech contempor...
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Salini Impregilo, an Italian specialist in the construction and civil engineering business, has won a SR1.1 billion ($293 million) contract from Saudi-based Al Khozama Management Company for renovation of its ambitious Al Faisaliah District in capital Riyadh.
As per the agreement, Salini Impregilo will upgrade Al Khozama's retail, hospitality and commercial assets commencing with the renewal of the iconic Al Faisaliah Mall.
A leading developer and manager of luxury, hospitality, retail and commercial properties in the kingdom, Al Khozama Management Company said this announcement marks another strategic step forward for realising its renewed vision to be the leading thinker, developer, creator and manager of luxury properties in Saudi Arabia and beyond.
Designed by award winning architects Gensler, the redevelopment plans for the mall promises a larger and richer luxury shopping experience adding over 16,000 sq m of hitech, contempor...
Dubai-based Al-Muqarram Auto Spare Parts Trading (A-Map) a leading distributor of automotive products has developed a business relationship with Nasser Bin Abdul Latif Al Serkal Est. aimed at expanding retail networks and enhancing market visibility. Boosted by this partnership A-MAP establishes its position as an integral part of the Al Serkal s current retail expansion across the UAE said a statement from the company. Simultaneously A-MAP will play a key role in enhancing the sale of its Solite brand of batteries and serve the UAE s growing customer base more efficiently it said. A-MAP is one of the largest distributors of automotive products in the region and attributes its success to reliable brands top class service personnel and ready availability of goods supported by a reliable distribution network. Located in the heart of Dubai s main business trading hub the company presently operates a network of bra...
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Dubai-based Al-Muqarram Auto Spare Parts Trading (A-Map), a leading distributor of automotive products, has developed a business relationship with Nasser Bin Abdul Latif Al Serkal Est., aimed at expanding retail networks and enhancing market visibility.
Boosted by this partnership A-MAP establishes its position as an integral part of the Al Serkal’s current retail expansion across the UAE, said a statement from the company.
Simultaneously A-MAP will play a key role in enhancing the sale of its Solite brand of batteries and serve the UAE’s growing customer base more efficiently, it said.
A-MAP is one of the largest distributors of automotive products in the region and attributes its success to reliable brands, top class service personnel and ready availability of goods, supported by a reliable distribution network. Located in the heart of Dubai’s main business trading hub, the company presently operates a network of bra...
Artificial intelligence (AI) applications include chat bots marketing and supply chain optimization and will help strengthen customer relationships says a new report by growth partnership firm Frost & Sullivan. Exponential progress in artificial intelligence (AI) and machine learning fuelled by the combination of cloud big data and new algorithms is transforming the retail industry. As AI leverages big data to automate predict and personalize retail is testing and implementing these applications to garner robust competitive advantages. The key focus for AI in retail is customer relationships. In times of concerns for the retail sector in the UK where sales posted biggest quarterly fall since 2010 the refashioning of this industry comes as a breath of fresh air with many opportunities to come. Global Artificial Intelligence Opportunities in Retail 2017 new research from Frost & Sullivan s Connected ...
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Artificial intelligence (AI) applications include chat bots, marketing, and supply chain optimization and will help strengthen customer relationships, says a new report by growth partnership firm Frost & Sullivan.
Exponential progress in artificial intelligence (AI) and machine learning, fuelled by the combination of cloud, big data and new algorithms, is transforming the retail industry. As AI leverages big data to automate, predict and personalize, retail is testing and implementing these applications to garner robust competitive advantages.
The key focus for AI in retail is customer relationships. In times of concerns for the retail sector in the UK where sales posted biggest quarterly fall since 2010, the refashioning of this industry comes as a breath of fresh air with many opportunities to come.
“Global Artificial Intelligence Opportunities in Retail, 2017”, new research from Frost & Sullivan’s Connected ...
Just as retailers begin to gain clarity on what makes Millennials tick a new generation is emerging that widens the digital divide even further. Meet Gen Z: categorized as consumers age 20 and younger. When it comes to digital shopping they build on the attitudes and expectations first identified among Millennials. A global research by Accenture a management consulting and professional services company reveals that within this new cohort video-rich YouTube represents the go-to online choice for shopping although many also turn to other social media beyond traditional online mainstays such as Instagram and Snapchat. The differences and evolving similarities between Millennials and Gen Zs will have a profound impact on retailers worldwide as companies attempt to reach the two most digital generations yet. Next Gen: Catching up with the Zs Where Millennials pushed the digital envelope f...
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Just as retailers begin to gain clarity on what makes Millennials tick, a new generation is emerging that widens the digital divide even further. Meet Gen Z: categorized as consumers age 20 and younger. When it comes to digital shopping, they build on the attitudes and expectations first identified among Millennials.
A global research by Accenture, a management consulting and professional services company, reveals that within this new cohort, video-rich YouTube represents the go-to online choice for shopping, although many also turn to other social media beyond traditional online mainstays, such as Instagram and Snapchat.
The differences and evolving similarities between Millennials and Gen Zs will have a profound impact on retailers worldwide, as companies attempt to reach the two most digital generations yet.
Next Gen: Catching up with the “Zs”
Where Millennials pushed the digital envelope f...
Nakheel a leading developer has officially opened a waterfront retail Pavilion at its new Dh450 million ( 122.52 million) Jumeriah Islands Townhouses community in Dubai bringing 14 shops restaurants and cafes to the neighbourhood. Jumeirah Islands Pavilion inaugurated today (Thursday) by Nakheel chairman Ali Rashid Lootah is the fifth community retail centre in Nakheel Malls growing collection of neighbourhood shopping and dining hubs across Dubai. It will serve 8 000 residents at Jumeirah Islands and provide a new destination for people living and working nearby. Set among lush gardens and greenery the Pavilion is flanked by a 1.1 km waterside jogging track. The anchor outlet Choithrams is complemented by a range of cafes and restaurants including Oregano Nando s and The Hamptons. There s also a Round 10 Boxing Club medical clinic beauty salon barber s shop pharmacy and dry cleaners. Deli...
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Nakheel, a leading developer, has officially opened a waterfront retail Pavilion at its new, Dh450 million ($122.52 million) Jumeriah Islands Townhouses community in Dubai, bringing 14 shops, restaurants and cafes to the neighbourhood.
Jumeirah Islands Pavilion, inaugurated today (Thursday) by Nakheel chairman Ali Rashid Lootah, is the fifth community retail centre in Nakheel Malls’ growing collection of neighbourhood shopping and dining hubs across Dubai. It will serve 8,000 residents at Jumeirah Islands and provide a new destination for people living and working nearby.
Set among lush gardens and greenery, the Pavilion is flanked by a 1.1 km waterside jogging track. The anchor outlet, Choithrams, is complemented by a range of cafes and restaurants including Oregano, Nando’s and The Hamptons. There’s also a Round 10 Boxing Club, medical clinic, beauty salon, barber’s shop, pharmacy, and dry cleaners.
Deli...
Nearly 20 per cent of the global retail industry s leaders said they were most upbeat about their prospects in the region up 4 per cent year-on-year according to a survey released on the eve of the World Retail Congress in Dubai UAE. However the biggest increase in optimism was about India. Some 12 per cent of those responding to the poll regarded India as having the best growth prospects up from 6 per cent a year ago. Other key findings in the Global Retail Sentiment Index conducted by Monash Business School in Melbourne for the World Retail Congress were a sharp drop in confidence in Western Europe which almost a quarter (24 per cent) of respondents thought had the bleakest prospects this year compared with just 14 per cent a year ago. The UK s prospects were broken out for the first time with 11 per cent believing it had the worst growth prospects of any market. It seems likely that the political backdrop to...
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Nearly 20 per cent of the global retail industry’s leaders said they were most upbeat about their prospects in the region – up 4 per cent year-on-year, according to a survey released on the eve of the World Retail Congress in Dubai, UAE.
However, the biggest increase in optimism was about India. Some 12 per cent of those responding to the poll regarded India as having the best growth prospects, up from 6 per cent a year ago.
Other key findings in the Global Retail Sentiment Index conducted by Monash Business School in Melbourne, for the World Retail Congress were a sharp drop in confidence in Western Europe which almost a quarter (24 per cent) of respondents thought had the bleakest prospects this year, compared with just 14 per cent a year ago.
The UK’s prospects were broken out for the first time with 11 per cent believing it had the worst growth prospects of any market. It seems likely that the political backdrop to...
Majid Al Futtaim the leading shopping mall and leisure pioneer in the Middle East and North Africa has started work on its Mall of Oman a super-regional retail destination coming up in the sultanate said a report. The mall is located at Madinat Al Irfan the new central business hub being developed by Omran near Muscat International Airport. When completed by 2020 the Mall of Oman is set to become the biggest shopping destination of its kind in the sultanate hosting an estimated 350 outlets set on a retail space of over 135 000 sq m area reported the Oman Observer. Major attractions will include a giant snow park Vox Cinemas complex and the nation s largest store of the Abercrombie & Fitch apparel and lifestyle brand it stated. Recently a joint venture of Shapoorji Pallonji Middle East and Consolidated Contractors Company Oman (SP-CCC) were appointed as the main contractor for the Mall of Oman...
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Majid Al Futtaim, the leading shopping mall and leisure pioneer in the Middle East and North Africa, has started work on its Mall of Oman, a super-regional retail destination coming up in the sultanate, said a report.
The mall is located at Madinat Al Irfan, the new central business hub being developed by Omran near Muscat International Airport.
When completed by 2020, the Mall of Oman is set to become the biggest shopping destination of its kind in the sultanate hosting an estimated 350 outlets set on a retail space of over 135,000 sq m area, reported the Oman Observer.
Major attractions will include a giant snow park, Vox Cinemas complex, and the nation’s largest store of the Abercrombie & Fitch apparel and lifestyle brand, it stated.
Recently, a joint venture of Shapoorji Pallonji Middle East and Consolidated Contractors Company Oman (SP-CCC) were appointed as the main contractor for the Mall of Oman...
Eastern Motors an leading dealer of vehicles in Al Ain has unveiled its new custom-built facility which is almost quadruple the size of its previous premises. The 15 623-sq-m world-class automotive facility boasts stunning Mercedes-Benz and Jeep showrooms and the very best in servicing and maintenance with huge workshops equipped with the latest technology and highly trained technicians. Bosch Power Tools and Bosch Automotive parts Michelin TyrePlus and Mopar also boast brand new modern facilities on-site that will ensure they can offer incredible customer service and an all-round enjoyable service said a statement. The renovation and expansion at the Eastern Motors site was carefully planned and executed so that the business remained open during the entire project. Eastern Motors is the authorised dealer of Mercedes-Benz Mopar Jeep and Fiat in Al Ain and a leading unit of the Al Fahim Group which was deeply co...
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Eastern Motors, an leading dealer of vehicles in Al Ain, has unveiled its new custom-built facility which is almost quadruple the size of its previous premises.
The 15,623-sq-m world-class automotive facility boasts stunning Mercedes-Benz and Jeep showrooms, and the very best in servicing and maintenance, with huge workshops equipped with the latest technology and highly trained technicians.
Bosch Power Tools and Bosch Automotive parts, Michelin, TyrePlus, and Mopar also boast brand new modern facilities on-site that will ensure they can offer incredible customer service and an all-round enjoyable service, said a statement.
The renovation and expansion at the Eastern Motors site was carefully planned and executed so that the business remained open during the entire project.
Eastern Motors is the authorised dealer of Mercedes-Benz, Mopar, Jeep and Fiat in Al Ain and a leading unit of the Al Fahim Group, which was deeply co...
McLaren Automotive has announced the first details of its new Composites Technology Centre based close to the campus of the Advanced Manufacturing Research Centre (AMRC) at the University of Sheffield. Built with support from Sheffield City Council the new Centre will be responsible for the development and manufacturing of the Monocell and Monocage carbon fibre chassis in future McLaren cars said the company. This next generation Monocell will be built using advanced automated manufacturing techniques developed in conjunction with the AMRC. The new facility is due to start construction in early 2017 with the first pre-production carbon fibre chassis expected to be delivered to the McLaren Technology Centre in the second half of 2017 using trial manufacturing processes in the AMRC before going into full production by 2020 it said. The creation of the new McLaren Composites Technology Centre represents the company ...
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McLaren Automotive has announced the first details of its new Composites Technology Centre based close to the campus of the Advanced Manufacturing Research Centre (AMRC) at the University of Sheffield.
Built with support from Sheffield City Council, the new Centre will be responsible for the development and manufacturing of the Monocell and Monocage carbon fibre chassis in future McLaren cars, said the company.
This next generation Monocell will be built using advanced automated manufacturing techniques developed in conjunction with the AMRC.
The new facility is due to start construction in early 2017 with the first pre-production carbon fibre chassis expected to be delivered to the McLaren Technology Centre in the second half of 2017 using trial manufacturing processes in the AMRC before going into full production by 2020, it said.
The creation of the new McLaren Composites Technology Centre represents the company’...
Al Mal Capital a subsidiary of Dubai Investments and a diversified multi-line investment institution headquartered in Dubai UAE has announced the acquisition of Poinsettia Plaza the 153 000 sq ft neighborhood shopping centre located in Ventura California. The transaction executed through Al Mal Direct Investments builds on the company s investments in private companies and real estate assets in the region and beyond. The Poinsettia Plaza acquisition is the Emirati firm s second investment in US real estate. The first was in a residential complex in Louisiana comprising 290 apartments which the company exited in 2015 for an IRR (internal rate of return) of 16 per cent. Naser Al Nabulsi the vice chairman and chief executive said: Al Mal Capital is committed to diversify its assets under management in line with its growth strategy and reinforcing its strong reputation and trust. As part...
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Al Mal Capital, a subsidiary of Dubai Investments and a diversified, multi-line investment institution headquartered in Dubai, UAE, has announced the acquisition of Poinsettia Plaza, the 153,000 sq ft neighborhood shopping centre located in Ventura, California.
The transaction, executed through Al Mal Direct Investments, builds on the company’s investments in private companies and real estate assets in the region and beyond.
The Poinsettia Plaza acquisition is the Emirati firm's second investment in US real estate. The first was in a residential complex in Louisiana comprising 290 apartments, which the company exited in 2015 for an IRR (internal rate of return) of 16 per cent.
Naser Al Nabulsi, the vice chairman and chief executive, said: "Al Mal Capital is committed to diversify its assets under management in line with its growth strategy and reinforcing its strong reputation and trust."
"As part...
First Avenue a new shopping mall and hotel project being developed by Saudi Arabia s Al Tawfeeq for Development and Investment (ATDI) at Motor City in Dubai is nearing completion. The Dh500 million ( 136 million) mall is expected to open in May along with the adjoining hotel. The project s backers say construction work for the mall is on track for completion by the end of this month with fit-out for the retail units set to take another four months. With the building work almost finished at First Avenue its anchor tenants are in place taking up 40 per cent of the mall s leasable area said a statement from ATDI. Carrefour the leading shopping mall retail and leisure pioneer across the Middle East and North Africa will take up 11 per cent of the leasable area it stated. Prime Medical Centre a leading provider of clinical diagnostic and medical tourism services will absorb nine...
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First Avenue, a new shopping mall and hotel project, being developed by Saudi Arabia’s Al Tawfeeq for Development and Investment (ATDI), at Motor City in Dubai, is nearing completion.
The Dh500 million ($136 million) mall is expected to open in May, along with the adjoining hotel.
The project’s backers say construction work for the mall is on track for completion by the end of this month, with fit-out for the retail units set to take another four months.
With the building work almost finished at First Avenue, its anchor tenants are in place, taking up 40 per cent of the mall’s leasable area, said a statement from ATDI.
Carrefour, the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa, will take up 11 per cent of the leasable area, it stated.
Prime Medical Centre, a leading provider of clinical, diagnostic and medical tourism services, will absorb nine...
The Pearl-Qatar s main retail hubs of Porto Arabia Medina Centrale and Qanat Quartier have attracted 32 exciting brands during the past two months. The Pearl-Qatar caters to a wide range of residents visitors and tourists offering them inspiring residences added-value services and most importantly an eclectic retail mix that delivers a superior shopping and dining experience. Porto Arabia received luxury men shoes and accessories label Cellini Signature in addition to Vazo and Fine Art furniture stores Pure Fashion The Balm Cosmetics as well as numerous cafés including Java U Fleurs et Café Flat White La Maison du Pain Tea Club Classic Rock Café and A la Turkish gourmet café and restaurant. Medina Centrale also welcomed famed brands such as Shater Abbas Mister Pizza and Hot Dogty as F&B concepts Saloon Looks for men exclusive toy store Kiddy Zone and furniture shops Global Antiques...
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The Pearl-Qatar’s main retail hubs of Porto Arabia, Medina Centrale and Qanat Quartier have attracted 32 exciting brands during the past two months.
The Pearl-Qatar caters to a wide range of residents, visitors and tourists, offering them inspiring residences, added-value services and most importantly an eclectic retail mix that delivers a superior shopping and dining experience.
Porto Arabia received luxury men shoes and accessories label Cellini Signature in addition to Vazo and Fine Art furniture stores, Pure Fashion, The Balm Cosmetics as well as numerous cafés including Java U, Fleurs et Café, Flat White, La Maison du Pain, Tea Club, Classic Rock Café and A'la Turkish gourmet café and restaurant.
Medina Centrale also welcomed famed brands such as Shater Abbas, Mister Pizza and Hot Dogty as F&B concepts, Saloon Looks for men, exclusive toy store Kiddy Zone and furniture shops Global Antiques...
With the Dubai Shopping Festival (DSF) concluded after a month packed with sales fashion shows parades concerts and malls brimming with activity there s no better time to examine the shopping event s popularity in the region as well as the UAE s shopping habits in general. Whether shopping at the nearest mall shopping online for the newest gadgets or even visiting the country to take part in the enormous sales the love of shopping is very much alive in the UAE. DSF AWARENESS According to a recent YouGov Omnibus as many as 60 per cent of GCC residents (excluding those already living in the UAE) are aware of the Dubai Shopping Festival. Additionally 14.7 per cent of respondents are planning to visit (or are already visiting) Dubai for the shopping festival. This number is highest in Oman (with 21.1 per cent) followed by Bahrain (17.8 per cent) and Qatar (17.4 per cent). CREDIT OVER CASH When it comes ...
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With the Dubai Shopping Festival (DSF) concluded after a month packed with sales, fashion shows, parades, concerts and malls brimming with activity, there’s no better time to examine the shopping event’s popularity in the region, as well as the UAE’s shopping habits in general. Whether shopping at the nearest mall, shopping online for the newest gadgets, or even visiting the country to take part in the enormous sales, the love of shopping is very much alive in the UAE.
DSF AWARENESS
According to a recent YouGov Omnibus, as many as 60 per cent of GCC residents (excluding those already living in the UAE) are aware of the Dubai Shopping Festival. Additionally, 14.7 per cent of respondents are planning to visit (or are already visiting) Dubai for the shopping festival. This number is highest in Oman (with 21.1 per cent), followed by Bahrain (17.8 per cent) and Qatar (17.4 per cent).
CREDIT OVER CASH
When it comes ...
An unstable global economy fraught with geopolitical uncertainty left many wondering if retailers in the Mena region would struggle to turn a profit in 2016. Yet just as challenges have come to characterize the region s business landscape so too have a wealth of technological advances that are rapidly changing the regional retail sector. What impact will these developments have in 2017? The power of customer data: Developments in digital commerce and underlying predictive customer analytics promise to deliver significant opportunities to a sector that is forecast to grow by 4.6 per cent region-wide this year. If seized this opportunity could not only offset the economic pressures that retail now faces but take the sector to new heights. But there is a caveat: to realize this potential retailers must learn how to successfully navigate the digital space and turn the deluge of public and customer data scattered across their different busin...
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An unstable global economy, fraught with geopolitical uncertainty, left many wondering if retailers in the Mena region would struggle to turn a profit in 2016. Yet, just as challenges have come to characterize the region’s business landscape, so too have a wealth of technological advances that are rapidly changing the regional retail sector. What impact will these developments have in 2017?
The power of customer data: Developments in digital commerce and underlying predictive customer analytics promise to deliver significant opportunities to a sector that is forecast to grow by 4.6 per cent region-wide this year. If seized, this opportunity could not only offset the economic pressures that retail now faces, but take the sector to new heights. But there is a caveat: to realize this potential, retailers must learn how to successfully navigate the digital space and turn the deluge of public and customer data scattered across their different busin...
Iran and Oman are continuing their talks to set up an auto manufacturing plant in Oman s Duqm according to a top official. Tehran plans to build the plant in Duqm economic zone Iran s Charge d Affairs in Oman Mohammad Totonchi was quoted as saying in an Oman Tribune report. The official added that both the countries will take steps to boost trade relations and Tehran will hold a large exhibition in Muscat from January 23 to 27. Trade between Iran and Oman saw a 35 per cent increase in volume in 2016 and the trade exchange value between the countries has reached 1.35 billion last year. More than 90 Iranian companies active in various fields including food and auto industries will present their products in Iran s exhibition in the sultanate added the report. ...
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Iran and Oman are continuing their talks to set up an auto manufacturing plant in Oman's Duqm, according to a top official.
Tehran plans to build the plant in Duqm economic zone, Iran’s Charge d’Affairs in Oman Mohammad Totonchi, was quoted as saying in an Oman Tribune report.
The official added that both the countries will take steps to boost trade relations and Tehran will hold a large exhibition in Muscat from January 23 to 27.
Trade between Iran and Oman saw a 35 per cent increase in volume in 2016 and the trade exchange value between the countries has reached $1.35 billion last year.
More than 90 Iranian companies active in various fields, including food and auto industries, will present their products in Iran’s exhibition in the sultanate, added the report.
Savola Group one of Saudi Arabia s leading retail and food holding companies has reported a net loss of SR964 million ( 257 million) in the fourth quarter of 2016 compared to a net income of SR515 million ( 137 million) for the same period the year before. Announcing the 2016 results Savola said its overall net loss hit SR451 million ( 120 million) compared to a net income of SR1.79 billion ( 477 million) in 2015. Its group revenue in the three months to December 31 remained flat at SR25 billion over the previous year. The lack of growth in revenue was mainly due to the underperformance of the retail segment exacerbated by the macro environment in Saudi Arabia. The company reported a number of exceptional one-off items that negatively impacted the Q4 and FY profitability. Excluding these charges and the exceptionally high currency losses incurred in 2016 adjusted net profit for the full year 2016 was SR810 million c...
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Savola Group, one of Saudi Arabia’s leading retail and food holding companies, has reported a net loss of SR964 million ($257 million) in the fourth quarter of 2016 compared to a net income of SR515 million ($137 million) for the same period the year before.
Announcing the 2016 results, Savola said its overall net loss hit SR451 million ($120 million) compared to a net income of SR1.79 billion ($477 million) in 2015.
Its group revenue in the three months to December 31, remained flat at SR25 billion over the previous year. The lack of growth in revenue was mainly due to the underperformance of the retail segment, exacerbated by the macro environment in Saudi Arabia.
The company reported a number of exceptional one-off items that negatively impacted the Q4 and FY profitability.
Excluding these charges and the exceptionally high currency losses incurred in 2016, adjusted net profit for the full year 2016 was SR810 million c...
What will shopping be like in 10 years? No one knows all the details (that s exciting!) but one thing is for sure: it will be very different than it is today. History is clear about that. In the mid-19th century most people in the US were shopping at small markets. They would tell the manager what they wanted and then wait for the item to be retrieved from the back or from the supplier. After that came the urban department store supermarkets then strip malls and discount stores. Today the pace of change is rapid. Ten years ago most customers were reading about the original iPhone and wondering whether it would be useful. Now they expect to order something on their mobiles have it delivered or pick it up in store often on the same day in a few hours or even in a few minutes. It s up to retailers to adapt to these changes and in some areas even lead the way or they ll fall behind and dis...
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What will shopping be like in 10 years? No one knows all the details (that’s exciting!), but one thing is for sure: it will be very different than it is today.
History is clear about that. In the mid-19th century, most people in the US were shopping at small markets. They would tell the manager what they wanted, and then wait for the item to be retrieved from the back or from the supplier. After that came the urban department store, supermarkets, then strip malls and discount stores.
Today, the pace of change is rapid. Ten years ago most customers were reading about the original iPhone, and wondering whether it would be useful. Now they expect to order something on their mobiles, have it delivered or pick it up in store – often on the same day, in a few hours, or even in a few minutes.
It’s up to retailers to adapt to these changes – and in some areas even lead the way – or they’ll fall behind and dis...
Souq.com one of the largest online retail and marketplace platforms in the Middle East has announced the launch of its new automotive category to provide a huge selection of car accessories online at the most exciting deals. The automotive category is one of the region s first for an e-commerce platform- enabling customers to choose from the largest assortment of car care products and accessories at the click of a button. This new category on Souq.com features interior and exterior car accessories spare parts tyres audio and video systems GPS navigation systems car care protection products as well as car tools and devices. The e-retail platform prides itself on developing strong brand partnerships with local and global brands across its categories and the platform now houses some of the top automotive accessories brands including Hyundai Pioneer Car Care Express Boschmann Good Year Autostar Armor All Kraftwerk Roadm...
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Souq.com, one of the largest online retail and marketplace platforms in the Middle East, has announced the launch of its new automotive category to provide a huge selection of car accessories online at the most exciting deals.
The automotive category is one of the region’s first for an e-commerce platform- enabling customers to choose from the largest assortment of car care products and accessories at the click of a button.
This new category on Souq.com features interior and exterior car accessories, spare parts, tyres, audio and video systems, GPS navigation systems, car care protection products as well as car tools and devices.
The e-retail platform prides itself on developing strong brand partnerships with local and global brands across its categories and the platform now houses some of the top automotive accessories brands including Hyundai, Pioneer, Car Care Express, Boschmann, Good Year, Autostar, Armor All, Kraftwerk, Roadm...
BlackBerry Limited has launched its most advanced and secure embedded operating system (OS) for the automotive industry. QNX Software Development Platform 7.0 (QNX SDP 7.0) is a 64-bit OS that builds on the proven reliability of QNX technology and raises the bar for security and performance in cars. At CES 2017 the technological capabilities of QNX SDP 7.0 were demonstrated in BlackBerry QNX s 2016 Jaguar XJ and 2017 Lincoln MKZ concept cars. With the push toward connected and autonomous vehicles the electronic architecture of cars is evolving - from a multitude of smaller processors each executing a dedicated function to a set of high performance domain controllers powered by 64-bit processors and graphical processing units said John Wall senior vice president and head of BlackBerry QNX. To develop these new systems our automotive customers will need a safe and secure 64-bit...
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BlackBerry Limited has launched its most advanced and secure embedded operating system (OS) for the automotive industry.
QNX Software Development Platform 7.0 (QNX SDP 7.0) is a 64-bit OS that builds on the proven reliability of QNX technology and raises the bar for security and performance in cars.
At CES 2017, the technological capabilities of QNX SDP 7.0 were demonstrated in BlackBerry QNX’s 2016 Jaguar XJ and 2017 Lincoln MKZ concept cars.
“With the push toward connected and autonomous vehicles, the electronic architecture of cars is evolving - from a multitude of smaller processors each executing a dedicated function, to a set of high performance domain controllers, powered by 64-bit processors and graphical processing units,” said John Wall, senior vice president and head of BlackBerry QNX.
“To develop these new systems, our automotive customers will need a safe and secure 64-bit...
The GCC automotive sector after an unstable 2016 resulting in a drop in new vehicle sales is expected to stabilise and show a moderate growth in 2017 a report said. The industry faced an overall tough market in 2016 due to various issues including low oil prices according to an analysis by Frost & Sullivan. The new vehicle sales dropped by double-digit number overstocking of parts by distributors lack of clarity for the near future these were the main causes for a volatile year in 2016 said the report authored by Vitali Bielski senior consultant mobility practice (automotive and transportation) Frost & Sullivan. Despite the difficulties faced the automotive industry will only grow in the region due to the relatively low price elasticity in demand. Still underdeveloped public transportation network with the exception of urban areas like Dubai (UAE) and Riyadh (Saudi Arabia) and lack of alternati...
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The GCC automotive sector, after an unstable 2016 resulting in a drop in new vehicle sales, is expected to stabilise and show a moderate growth in 2017, a report said.
The industry faced an overall tough market in 2016 due to various issues including low oil prices, according to an analysis by Frost & Sullivan.
The new vehicle sales dropped by double-digit number, overstocking of parts by distributors, lack of clarity for the near future – these were the main causes for a volatile year in 2016, said the report authored by Vitali Bielski, senior consultant, mobility practice (automotive and transportation), Frost & Sullivan.
Despite the difficulties faced, the automotive industry will only grow in the region due to the relatively low price elasticity in demand. Still underdeveloped public transportation network – with the exception of urban areas like Dubai (UAE) and Riyadh (Saudi Arabia) – and lack of alternati...
Reverse engineering could solve the problem of most plants in Saudi Arabia which have approximately a third of their spare parts outdated and that are faced with high costs of replacing systems said an official in a report. Many plants in the kingdom are over 25 years old with aging equipment and lack engineering drawings necessary to source the spare parts locally Dr Hashim Al Zain director of engineering at DarTec a consultancy specialised in reverse engineering was quoted as saying in a Saudi Gazette report during a recently held workshop. He added that with reverse engineering 3D laser scanning allows to localise spare parts. Localisation of spare parts not only saves cost of 10 to 15 per cent but also saves time which manufacturers take months to provide he said. Moreover it also has the potential to generate jobs for Saudis as well. Al Zain added that localisation by 30 per cent of parts such...
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Reverse engineering could solve the problem of most plants in Saudi Arabia which have approximately a third of their spare parts outdated and that are faced with high costs of replacing systems, said an official in a report.
Many plants in the kingdom are over 25 years old with aging equipment and lack engineering drawings necessary to source the spare parts locally, Dr Hashim Al Zain, director of engineering at DarTec, a consultancy specialised in reverse engineering, was quoted as saying in a Saudi Gazette report, during a recently held workshop.
He added that with reverse engineering, 3D laser scanning allows to localise spare parts.
Localisation of spare parts not only saves cost of 10 to 15 per cent but also saves time which manufacturers take months to provide, he said.
Moreover, it also has the potential to generate jobs for Saudis as well.
Al Zain added that localisation by 30 per cent of parts such...
Qatar Tourism Authority (QTA) and partners in travel hospitality and retail sectors have announced a new festival titled Shop Qatar . The month-long event taking place from January 7 to February 7 this year will feature Broadway musicals live concerts stand-up comedy and in-mall entertainment. Shop Qatar partners include Mall of Qatar Qatar Airways and Ezdan World. QTA organises a number of country-wide events including Qatar International Food Festival (QIFF) and Qatar Summer Festival (QSF). Figures for March and August 2016 when these events were held this year showed an increase in visitor arrivals encouraging QTA officials to explore new events that support the performance of the country s tourism sector. Under the slogan A Brand New Tradition the first edition of Shop Qatar will kick-off in January with discounts on popular brands cash prizes worth up to 1 million special offers on flights and hotel bookings and a colourful schedule of entertai...
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Qatar Tourism Authority (QTA) and partners in travel, hospitality and retail sectors have announced a new festival titled, 'Shop Qatar'. The month-long event taking place from January 7 to February 7 this year, will feature Broadway musicals, live concerts, stand-up comedy and in-mall entertainment. Shop Qatar partners include Mall of Qatar, Qatar Airways and Ezdan World.
QTA organises a number of country-wide events including Qatar International Food Festival (QIFF) and Qatar Summer Festival (QSF). Figures for March and August 2016, when these events were held this year, showed an increase in visitor arrivals, encouraging QTA officials to explore new events that support the performance of the country’s tourism sector.
Under the slogan ‘A Brand New Tradition’, the first edition of Shop Qatar will kick-off in January with discounts on popular brands, cash prizes worth up to $1 million, special offers on flights and hotel bookings, and a colourful schedule of entertai...
Batelco a leading telecom service operator in Bahrain has opened a new retail shop at the Wadi Al Sail Mall in Riffa Manama. The big modern new outlet was officially opened by Batelco chief operating officer Abderrahmane Mounir in the presence of Batelco officials including consumer division general manager Ebrahim Alsayed said a statement from the company. The shop will provide a complete range of Batelco s products and services including mobile services broadband and fixed line services along with a range of the newest handsets tablets and accessories it said. The new Wadi Al Sail Mall shop which is open from 9am to 10pm seven days a week and has been designed to the highest standards to offer customers a very comfortable and relaxed environment to enhance their experience it added. As an added benefit customers can avail of a selection of exclusive offers for a limited period to celebrate the open...
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Batelco, a leading telecom service operator in Bahrain, has opened a new retail shop at the Wadi Al Sail Mall, in Riffa, Manama.
The big, modern new outlet was officially opened by Batelco chief operating officer Abderrahmane Mounir in the presence of Batelco officials including consumer division general manager Ebrahim Alsayed, said a statement from the company.
The shop will provide a complete range of Batelco’s products and services including mobile services, broadband and fixed line services, along with a range of the newest handsets, tablets, and accessories, it said.
The new Wadi Al Sail Mall shop, which is open from 9am to 10pm, seven days a week, and has been designed to the highest standards to offer customers a very comfortable and relaxed environment to enhance their experience, it added.
As an added benefit, customers can avail of a selection of exclusive offers for a limited period to celebrate the open...
Saudi Arabia-based Mazola a leader in quality food products across the region has announced plans to expand into the growing non-retail segment by catering to industrial food supply chains amidst surging trends in the regional food sector and rising consumption in the wake of promising macro-dynamic developments. Recent studies have shown that consumer spending in GCC food retail sector is expected to be worth almost 106 billion by 2017. Saudi Arabia will continue to lead the region s food sector accounting for 59 per cent of the total consumption up until 2017. Saudi Arabia currently consumes 872kg of food per capita Qatar 852kg Kuwait 634kg and Bahrain 453kg per capita while by 2017 the per capita food consumption for the entire region is forecasted to reach 983kg said a statement. Amidst these surging trends Mazola showcased its plans and innovative products at Saudi Horeca the biggest annual hospitality exhibition of...
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Saudi Arabia-based Mazola, a leader in quality food products across the region, has announced plans to expand into the growing non-retail segment by catering to industrial food supply chains amidst surging trends in the regional food sector and rising consumption in the wake of promising macro-dynamic developments.
Recent studies have shown that consumer spending in GCC food retail sector is expected to be worth almost $106 billion by 2017.
Saudi Arabia will continue to lead the region’s food sector, accounting for 59 per cent of the total consumption up until 2017. Saudi Arabia currently consumes 872kg of food per capita, Qatar 852kg, Kuwait 634kg and Bahrain 453kg per capita while by 2017, the per capita food consumption for the entire region is forecasted to reach 983kg, said a statement.
Amidst these surging trends, Mazola showcased its plans and innovative products at Saudi Horeca, the biggest annual hospitality exhibition of...
Leading property developer Nakheel has officially opened the Al Furjan Pavilion the latest project in its Dh16 billion ( 4.35 billion) retail expansion and the fourth in its growing collection of community retail centres. With a development value of Dh110 million ( 30 million) Al Furjan Pavilion is the fifth Nakheel Malls project to open this year and brings the company s 2016 retail project delivery value to more than Dh1.5 billion ( 408 million). The first of two Pavilions at Al Furjan and the fourth in Nakheel s growing collection of neighbourhood retail hubs the centre has 24 shops restaurants and services across 87 000 sq ft of leasable space plus a car park for more than 300 vehicles said the company in its statement. Retailers include a Spinneys supermarket 10 food and beverage outlets and a wide variety of shops selling everything from books to beauty services. In addition a medical centre and branch of...
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Leading property developer Nakheel has officially opened the Al Furjan Pavilion, the latest project in its Dh16 billion ($4.35 billion) retail expansion and the fourth in its growing collection of community retail centres.
With a development value of Dh110 million ($30 million), Al Furjan Pavilion is the fifth Nakheel Malls project to open this year and brings the company’s 2016 retail project delivery value to more than Dh1.5 billion ($408 million).
The first of two Pavilions at Al Furjan and the fourth in Nakheel’s growing collection of neighbourhood retail hubs, the centre has 24 shops, restaurants and services across 87,000 sq ft of leasable space, plus a car park for more than 300 vehicles, said the company in its statement.
Retailers include a Spinneys supermarket, 10 food and beverage outlets and a wide variety of shops selling everything from books to beauty services. In addition, a medical centre and branch of...
Infrastructure retail tourism and amusement industry sectors will propel the growth of the printing and signage industry in the GCC said the organisers of the upcoming at SGI Dubai 2017 the largest show for print and signage industries. Every industry today needs to communicate with their target audience and printing and signage industry plays a significant role in this whole process said Abdul Rahman Falaknaz chairman of International Expo Consults (IEC) organiser SGI Dubai. The growth witnessed in other sectors will definitely support the printing and signage industry as well in 2017. Due to this factor we have seen a growing level of interest from international exhibitors this time. In addition leading names from across the region have signed up for the exhibition and will showcase the industry s best kept secrets during the show. Major brands including Signtrade Agfa Graphics Canon Middle...
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Infrastructure, retail, tourism and amusement industry sectors will propel the growth of the printing and signage industry in the GCC, said the organisers of the upcoming at SGI Dubai 2017, the largest show for print and signage industries.
“Every industry today needs to communicate with their target audience and printing and signage industry plays a significant role in this whole process,” said Abdul Rahman Falaknaz, chairman of International Expo Consults (IEC), organiser SGI Dubai.
“The growth witnessed in other sectors will definitely support the printing and signage industry as well in 2017. Due to this factor, we have seen a growing level of interest from international exhibitors this time. In addition, leading names from across the region have signed up for the exhibition and will showcase the industry’s best kept secrets during the show.”
Major brands including Signtrade, Agfa Graphics, Canon Middle...
Information is all around us and every business - from finance to healthcare and telecom to real estate - relies on the use of big data and analytics for information in the form of actionable insights to discover opportunities and improve business agility. The future of retail also lies in big data analytics. Based on customer loyalty data browsing patterns social media purchase history and demographic data retailers predict trends and prepare for future demands. Using the power of big data retailers now have a more thorough understanding of the customer s product preferences and buying habits thereby providing a smarter shopping experience building customer loyalty and offering a seamless and superior customer experience. Brad Hariharan regional director Expotrade Middle East said Retail banking and telecommunications are some of the few data-intensive industries that are the growth drivers of big data and analytics. By harne...
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Information is all around us, and every business - from finance to healthcare and telecom to real estate - relies on the use of big data and analytics for information in the form of actionable insights to discover opportunities and improve business agility.
The future of retail also lies in big data analytics. Based on customer loyalty data, browsing patterns, social media, purchase history and demographic data, retailers predict trends and prepare for future demands. Using the power of big data, retailers now have a more thorough understanding of the customer’s product preferences and buying habits thereby providing a smarter shopping experience, building customer loyalty and offering a seamless and superior customer experience.
Brad Hariharan, regional director, Expotrade Middle East, said, “Retail, banking and telecommunications are some of the few data-intensive industries that are the growth drivers of big data and analytics. By harne...
Saudi Arabia is on course to establish itself as the new automotive hub for the Middle East region said a senior official from 3M a global science-based company. Currently the largest importer of vehicles and auto parts in the region the kingdom accounts for approximately 770 000 auto sales a year which is why we selected it as the country to celebrate the occasion remarked Tareq Al Nouri general manager electronics and energy at 3M. Al Nouri was speaking at an event held to mark the 50th anniversary of the 3M s launch of patented window film . Saudi Arabia will hold the lion s share of cars on GCC roads with 10.03 million vehicles by 2020 a figure comprising 52.5 per cent of the entire regional market stated the official citing a recent Frost & Sullivan report. The 3M he stated has been present in Saudi Arabia since 1980 and provides technica...
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Saudi Arabia is on course to establish itself as the new automotive hub for the Middle East region, said a senior official from 3M, a global science-based company.
"Currently the largest importer of vehicles and auto parts in the region, the kingdom accounts for approximately 770,000 auto sales a year, which is why we selected it as the country to celebrate the occasion," remarked
Tareq Al Nouri, general manager, electronics and energy, at 3M.
Al Nouri was speaking at an event held to mark the 50th anniversary of the 3M's launch of patented ‘window film’.
"Saudi Arabia will hold the lion’s share of cars on GCC roads, with 10.03 million vehicles by 2020 – a figure comprising 52.5 per cent of the entire regional market," stated the official, citing a recent Frost & Sullivan report.
The 3M, he stated, has been present in Saudi Arabia since 1980, and provides technica...
Dubai Islamic Bank the UAE s largest shariah compliant bank was named the Strongest Islamic Retail Bank in the UAE at the recently held Islamic Retail Banking Awards. Organised by Cambridge IF Analytica the second Islamic Retail Banking Awards (IRBA) were held as part of the 8th Edition of the World Islamic Retail Banking Conference (WIRBC) in Dubai UAE and commemorated the success and the contribution of banks and financial institutions to the industry s consumer banking and finance sector over the past year. Sanjay Malhotra chief of Consumer Banking at DIB said: We are honoured to be named as the Strongest Retail Bank in the UAE. Today DIB has one of the largest consumer bases in the country with over 1.7 million customers and 90 branches across the nation. A key driver of this growth has been the Bank s customer centric approach that is embodied in our Cus...
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Dubai Islamic Bank, the UAE’s largest shariah compliant bank, was named the ‘Strongest Islamic Retail Bank’ in the UAE at the recently held Islamic Retail Banking Awards.
Organised by Cambridge IF Analytica, the second Islamic Retail Banking Awards (IRBA) were held as part of the 8th Edition of the World Islamic Retail Banking Conference (WIRBC) in Dubai, UAE and commemorated the success and the contribution of banks and financial institutions to the industry’s consumer banking and finance sector over the past year.
Sanjay Malhotra, chief of Consumer Banking at DIB said: “We are honoured to be named as the ‘Strongest Retail Bank’ in the UAE. Today, DIB has one of the largest consumer bases in the country with over 1.7 million customers and 90 branches across the nation.
“A key driver of this growth has been the Bank’s customer centric approach that is embodied in our ‘Cus...
Yoox Net-A-Porter Group (YNAP) a leading global online luxury fashion retailer has announced a joint venture with Symphony Investments an entity controlled by Mohamed Alabbar to create a new online luxury retail business in the Middle East. The partnership will see Mohamed Alabbar focus his entire online luxury retail activity in the region exclusively through the new joint venture. The partnership will draw on the region s enormous growth potential and will be a major force in the luxury retail business a statement said. YNAP will hold a 60 per cent stake in the joint venture which will be fully consolidated in YNAP s accounts while Symphony Investments will own the remaining 40 per cent. The JV will manage all of the group s existing multi-brand online stores in the region Net-A-Porter Mr Porter Yoox and The Outnet as well as in agreement with the brands select existing and future onli...
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Yoox Net-A-Porter Group (YNAP), a leading global online luxury fashion retailer, has announced a joint venture with Symphony Investments, an entity controlled by Mohamed Alabbar, to create a new online luxury retail business in the Middle East.
The partnership will see Mohamed Alabbar focus his entire online luxury retail activity in the region exclusively through the new joint venture. The partnership will draw on the region’s enormous growth potential and will be a major force in the luxury retail business,a statement said.
YNAP will hold a 60 per cent stake in the joint venture, which will be fully consolidated in YNAP’s accounts, while Symphony Investments will own the remaining 40 per cent.
The JV will manage all of the group’s existing multi-brand online stores in the region – Net-A-Porter, Mr Porter, Yoox and The Outnet – as well as, in agreement with the brands, select existing and future onli...
Hyundai Motor Company today confirmed Skyline Automotive as its official distributor for Qatar underlining a determination to increase its share of the local car market. Skyline Automotive has ambitious plans for growth bringing together a leadership team with extensive experience working in the motor industry in Qatar as well as across the wider GCC and Middle East. Managing Director Paiman El Malla has previously held senior positions with BMW operations in Saudi Arabia and the UAE. The new distributor is responsible for sales and service of the full Hyundai 2017 model range from small hatchbacks and sedans to SUVs. It will also introduce the luxury Genesis brand to the Qatari market from this month. Its first showroom is now open on B-Ring Road and more sales and service centers will open at convenient locations across Qatar in the coming months. We are very impressed by Skyline Automotive s dedicatio...
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Hyundai Motor Company today confirmed Skyline Automotive as its official distributor for Qatar, underlining a determination to increase its share of the local car market.
Skyline Automotive has ambitious plans for growth, bringing together a leadership team with extensive experience working in the motor industry in Qatar, as well as across the wider GCC and Middle East.
Managing Director Paiman El Malla has previously held senior positions with BMW operations in Saudi Arabia and the UAE.
The new distributor is responsible for sales and service of the full Hyundai 2017 model range, from small hatchbacks and sedans to SUVs. It will also introduce the luxury Genesis brand to the Qatari market from this month. Its first showroom is now open on B-Ring Road, and more sales and service centers will open at convenient locations across Qatar in the coming months.
“We are very impressed by Skyline Automotive’s dedicatio...
British luxury sports car maker McLaren Automotive has appointed Kanoo Motors as retail partner for Bahrain thus enhancing its retail network in the Middle East Africa and Latin America region. The appointment was announced by McLaren Automotive chief executive officer Mike Flewitt and Kanoo Motors directors Ebrahim M Kanoo and Talal F Kanoo at the Bahrain International Circuit. Customers and fans will be able to see the range of luxury handcrafted sports and super series cars from McLaren at the McLaren Bahrain showroom next to Moda Mall at the World Trade Centre while McLaren Service and Aftersales care is now available at the state-of the-art Kanoo Performance Centre located in Tubli (previously the Kanoo Vehicle Leasing building). Currently available from McLaren Bahrain is the Super Series comprising the groundbreaking McLaren 650S in Coupé and Spider derivatives. Both models incorporate a range of Formula 1 tec...
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British luxury sports car maker McLaren Automotive has appointed Kanoo Motors as retail partner for Bahrain, thus enhancing its retail network in the Middle East, Africa and Latin America region.
The appointment was announced by McLaren Automotive chief executive officer, Mike Flewitt and Kanoo Motors directors, Ebrahim M Kanoo and Talal F Kanoo at the Bahrain International Circuit.
Customers and fans will be able to see the range of luxury handcrafted sports and super series cars from McLaren at the McLaren Bahrain showroom next to Moda Mall at the World Trade Centre, while McLaren Service and Aftersales care is now available at the state-of–the-art Kanoo Performance Centre located in Tubli, (previously the Kanoo Vehicle Leasing building).
Currently available from McLaren Bahrain is the Super Series, comprising the groundbreaking McLaren 650S in Coupé and Spider derivatives. Both models incorporate a range of Formula 1 tec...
Advancements in biometrics will radically transform the driving experience health wellness and wellbeing (HWW) and security of vehicles by 2025 a report said. As one in three new passenger vehicles begin to feature fingerprint recognition iris recognition voice recognition gesture recognition heart beat monitoring brain wave monitoring stress detection fatigue monitoring eyelid monitoring facial monitoring and pulse detection added the report titled Biometric Wearables to Disrupt the Automotive Industry from growth partnership company Frost & Sullivan. These will be driven by built-in brought-in and cloud enabled technologies the automotive biometrics ecosystem will surge ahead. Major automotive original equipment manufacturers (OEMs) and Tier 1 suppliers must stay abreast of technologies business models and regulations shaping this dynamic space. Partnerships between automotive OEMs and wearabl...
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Advancements in biometrics will radically transform the driving experience, health wellness and wellbeing (HWW), and security of vehicles by 2025, a report said.
As one in three new passenger vehicles begin to feature fingerprint recognition, iris recognition, voice recognition, gesture recognition, heart beat monitoring, brain wave monitoring, stress detection, fatigue monitoring, eyelid monitoring, facial monitoring, and pulse detection, added the report titled “Biometric Wearables to Disrupt the Automotive Industry" from growth partnership company Frost & Sullivan.
These will be driven by built-in, brought-in and cloud enabled technologies, the automotive biometrics ecosystem will surge ahead. Major automotive original equipment manufacturers (OEMs) and Tier 1 suppliers must stay abreast of technologies, business models, and regulations shaping this dynamic space.
“Partnerships between automotive OEMs and wearabl...
Al Forsan Village the first active health focused mixed-use development in Abu Dhabi UAE said 15 000 sq m of retail space has been occupied by community-focused brands at its Town Square development. A large Spinneys outlet Al Manara Pharmacy and JustKidding are now open along with other utility service providers including an Etisalat kiosk for the telecom needs said the statement from top UAE developer Al Forsan Real Estate. Other key brands including Cheeky Monkeys Grand Optics Holland and Barrett Tilia Flowers and Chocolate illy Cafe Reem Al Bawadi Restaurant and Café The Coffee Club Middle East Oregano Restaurants and Streat 9 Café are slated to open shortly it stated. With this move Town Square at Al Forsan Village located in the Khalifa City A area will now be home to several community focussed brands. The interiors of majority of these outlets a...
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Al Forsan Village, the first active health focused mixed-use development in Abu Dhabi, UAE, said 15,000 sq m of retail space has been occupied by community-focused brands at its ‘Town Square’ development.
A large Spinneys outlet, Al Manara Pharmacy and JustKidding are now open along with other utility service providers including an Etisalat kiosk for the telecom needs, said the statement from top UAE developer Al Forsan Real Estate.
Other key brands including Cheeky Monkeys, Grand Optics, Holland and Barrett, Tilia Flowers and Chocolate, illy Cafe, Reem Al Bawadi Restaurant and Café, The Coffee Club Middle East, Oregano Restaurants and Streat 9 Café are slated to open shortly, it stated.
With this move, ‘Town Square’, at Al Forsan Village located in the Khalifa City ‘A’ area, will now be home to several ‘community focussed’ brands. The interiors of majority of these outlets a...
Investing in customer analytics offers exciting opportunities for the growth and development of the regional retail sector says Booz Allen Hamilton the global consulting and technology firm in a report. The comprehensive report titled Next Generation Retailers: Power Up Your Analytics - discusses how the global retail sector is changing in the face of an unprecedented shift in customer behaviour fuelled by advanced technology and wider acceptance of online shopping and ecommerce. According to Euromonitor the Mena region is emerging as a global hub for retail and the sector is expected to grow from 996 billion in 2015 to 1.05 trillion in 2016. The healthy growth in Bahrain s job market and tourism industry including entertainment commercial spaces and even residential real estate is complementing the overall development of the retail sector. Increased real estate and labour costs are also driving b...
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Investing in customer analytics offers exciting opportunities for the growth and development of the regional retail sector, says Booz Allen Hamilton, the global consulting and technology firm, in a report.
The comprehensive report – titled ‘Next Generation Retailers: Power Up Your Analytics’ - discusses how the global retail sector is changing in the face of an unprecedented shift in customer behaviour, fuelled by advanced technology and wider acceptance of online shopping and ecommerce.
According to Euromonitor, the Mena region is emerging as a global hub for retail and the sector is expected to grow from $996 billion in 2015, to $1.05 trillion in 2016.
The healthy growth in Bahrain’s job market and tourism industry including entertainment, commercial spaces and even residential real estate is complementing the overall development of the retail sector.
Increased real estate and labour costs are also driving b...
Tamdeen Group a leading mixed-use property developer in Kuwait has reported that 70 per cent of the retail spaces has been leased out at its super-regional shopping destination Al Kout Mall. The Kuwaiti developer plans to have 260 stores in the new mall which is part of the overall Al Kout development in the Ahmadi governorate. When completed the project will offer six different experiences including hospitality shopping marina a fishing wharf leisure and entertainment. With the signing of major key and anchor tenants such as H&M Zara GAP Victoria s Secret Sephora Massimo Dutti Banana Republic Jack Wills COS Mamas & Papas Mothercare and several others as well as F&B brands like Vapiano PF Chang s TGI Fridays etc. leasing of the 260 units is progressing smoothly with an overwhelming response from several international and regional players. In addition through the redevelopment and expansion...
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Tamdeen Group, a leading mixed-use property developer in Kuwait, has reported that 70 per cent of the retail spaces has been leased out at its super-regional shopping destination, Al Kout Mall.
The Kuwaiti developer plans to have 260 stores in the new mall, which is part of the overall Al Kout development in the Ahmadi governorate. When completed, the project will offer six different experiences including hospitality, shopping, marina, a fishing wharf, leisure and entertainment.
With the signing of major key and anchor tenants such as H&M, Zara, GAP, Victoria’s Secret, Sephora, Massimo Dutti, Banana Republic, Jack Wills, COS, Mamas & Papas, Mothercare and several others, as well as F&B brands like Vapiano, PF Chang’s, TGI Fridays etc., leasing of the 260 units is progressing smoothly with an overwhelming response from several international and regional players.
In addition, through the redevelopment and expansion...
The growth plans include ongoing renovation of two major service stations and the construction of 54 more stations in Dubai The retail business segment of Emirates National Oil Company (Enoc) plans to increase capacity by 40 per cent between 2016 and 2020 across its network of service stations in the UAE said a top official. The growth plans include ongoing renovation of two major service stations in Dubai Internet City and Oud Metha and the construction of 54 more stations in Dubai. The expansion will meet Enoc s long-term strategic objectives which are aligned with the Dubai Plan 2021 of creating a Smart & Sustainable City for Happy Creative & Empowered People . Burhan Al Hashemi managing director Enoc Retail said: We are looking at an increased growth over the next few years as Enoc expands and aims to be an international integrated oil and gas player. Our service station expansion programme is part of our growth strategy...
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The growth plans include ongoing renovation of two major service stations and the construction of 54 more stations in Dubai
The retail business segment of Emirates National Oil Company (Enoc) plans to increase capacity by 40 per cent between 2016 and 2020 across its network of service stations in the UAE, said a top official.
The growth plans include ongoing renovation of two major service stations in Dubai Internet City and Oud Metha and the construction of 54 more stations in Dubai. The expansion will meet Enoc’s long-term strategic objectives which are aligned with the Dubai Plan 2021 of creating a ‘Smart & Sustainable City’ for ‘Happy, Creative & Empowered People’.
Burhan Al Hashemi, managing director, Enoc Retail, said: "We are looking at an increased growth over the next few years as Enoc expands and aims to be an international integrated oil and gas player.
"Our service station expansion programme is part of our growth strategy...
IT S that time of the year again for Dubai as the emirate celebrates the 20th edition of the unique-to-the-region Dubai Shopping Festival (DSF). Launched in 1996 to promote the emirate as a destination for family tourism DSF is organised annually under the universal theme of One World. One Family. One Festival . DSF was also one of the first initiatives that helped put Dubai on the world map as a shopping destination. Dubai Festivals & Retail Establishment s (DFRE) international marketing campaign to promote DSF this year targeted the key markets of China Russia and India as well as countries in the Middle East and North Africa. From 1996 to 2014 DSF attracted 56 million visitors with a total spending of Dh145 billion ( 39.4 billion). Meanwhile another initiative of the DFRE the Dubai Food Festival is set to return with an expanded 23-day programme (February 6 to 28) of food-related events activities and promotions. Internationally renowned celebrity chef...
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IT’S that time of the year again for Dubai, as the emirate celebrates the 20th edition of the unique-to-the-region Dubai Shopping Festival (DSF). Launched in 1996 to promote the emirate as a destination for family tourism, DSF is organised annually under the universal theme of “One World. One Family. One Festival”. DSF was also one of the first initiatives that helped put Dubai on the world map as a shopping destination.
Dubai Festivals & Retail Establishment’s (DFRE) international marketing campaign to promote DSF this year targeted the key markets of China, Russia and India as well as countries in the Middle East and North Africa. From 1996 to 2014, DSF attracted 56 million visitors, with a total spending of Dh145 billion ($39.4 billion).
Meanwhile, another initiative of the DFRE, the Dubai Food Festival, is set to return with an expanded 23-day programme (February 6 to 28) of food-related events, activities and promotions. Internationally renowned celebrity chef...
ANGOLA S liquefied natural gas (LNG) plant faces major reconstruction to fix design flaws and corrosion of nearly-new equipment threatening to extend a lengthy closure and pushing unofficial estimates of the project s cost to at least 12 billion. US oil group Chevron Angola LNG s biggest shareholder acknowledged design problems with the export project which began production last year but shut down this April after a series of fires leaks and mechanical troubles. A consortium of investors which apart from Chevron includes Angolan state energy firm Sonangol BP Total and Eni contracted US engineering giant Bechtel to build the technically advanced plant on the Atlantic coast 300 km (180 miles) north of Luanda. Chevron CEO John Watson declines to single out anyone for blame. I don t point fingers. This is our responsibility. It s a partnership consortium. The partnership consortium chose the contractor. We ve run into some design issues. We re working to corr...
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ANGOLA’S liquefied natural gas (LNG) plant faces major reconstruction to fix design flaws and corrosion of nearly-new equipment, threatening to extend a lengthy closure and pushing unofficial estimates of the project’s cost to at least $12 billion.
US oil group Chevron, Angola LNG’s biggest shareholder, acknowledged design problems with the export project which began production last year but shut down this April after a series of fires, leaks and mechanical troubles.
A consortium of investors, which apart from Chevron includes Angolan state energy firm Sonangol, BP, Total and Eni, contracted US engineering giant Bechtel to build the technically advanced plant on the Atlantic coast 300 km (180 miles) north of Luanda.
Chevron CEO John Watson declines to single out anyone for blame. “I don’t point fingers. This is our responsibility. It’s a partnership consortium. The partnership consortium chose the contractor. We’ve run into some design issues. We’re working to corr...
Chevron completed repairs to a central crude distillation unit (CDU) at its 245 000 barrel-per-day (bpd) San Francisco Bay-area refinery in Richmond California almost eight months after a massive fire struck the core of the plant. The CDU which does the initial refining of crude oil coming into the plant and provides feedstock to all other units has been shut since the August 6 explosion and fire. Motor fuel production from the refinery has been cut in half since the blaze. We are working to complete the final regulatory steps required to restart the crude oil processing unit and expect to resume normal operations in the second quarter of this year Chevron spokesman Sean Comey said in a statement. The fire at the refinery the third largest in California and among the oldest in the country sent a plume of black smoke over San Francisco Bay and at least 15 000 residents of surrounding communities had sought treatment for respiratory ir...
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Chevron completed repairs to a central crude distillation unit (CDU) at its 245,000 barrel-per-day (bpd) San Francisco Bay-area refinery in Richmond, California, almost eight months after a massive fire struck the core of the plant.
The CDU, which does the initial refining of crude oil coming into the plant and provides feedstock to all other units, has been shut since the August 6 explosion and fire. Motor fuel production from the refinery has been cut in half since the blaze.
“We are working to complete the final regulatory steps required to restart the crude oil processing unit and expect to resume normal operations in the second quarter of this year,” Chevron spokesman Sean Comey said in a statement.
The fire at the refinery – the third largest in California and among the oldest in the country – sent a plume of black smoke over San Francisco Bay and at least 15,000 residents of surrounding communities had sought treatment for respiratory ir...
PTT the national energy conglomerate is moving forward with plans to establish a retail oil business in Myanmar by working with a local partner. The move serves PTT s goal to become a regional oil retailer within five years said Auttapol Rerkpiboon executive vice-president for communication and international market. PTT Oil Myanmar Co will be registered to operate businesses in the neighbouring country pending approval from the company s board of directors. This will be in time for Myanmar to open its retail oil sector to foreign investors. The Myanmar subsidiary is expected to have registered capital of 500 000 kyat in line with the regulation of the Myanmar Investment Committee. The business will include oil retailing and wholesaling depot and logistic operations. At present PTT has only a lube oil business through a local distributor in Myanmar and cross-border petrol trade from Thailand. PTT Exploration and Production (PTTEP) Thailand s sole expl...
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PTT, the national energy conglomerate, is moving forward with plans to establish a retail oil business in Myanmar by working with a local partner.
The move serves PTT’s goal to become a regional oil retailer within five years, said Auttapol Rerkpiboon, executive vice-president for communication and international market.
PTT Oil Myanmar Co will be registered to operate businesses in the neighbouring country, pending approval from the company’s board of directors. This will be in time for Myanmar to open its retail oil sector to foreign investors. The Myanmar subsidiary is expected to have registered capital of 500,000 kyat, in line with the regulation of the Myanmar Investment Committee. The business will include oil retailing and wholesaling, depot and logistic operations.
At present, PTT has only a lube oil business through a local distributor in Myanmar and cross-border petrol trade from Thailand. PTT Exploration and Production (PTTEP), Thailand’s sole expl...
VALUE Retail has announced plans to open their first Chic Shopping Village outside Europe. Set to open in the summer of 2013 the new village will be in Suzhou 60 miles west of Shanghai also known as the Venice of China. According to Sarah Bartlet PR director for Value Retail the shopping villages in Europe have seeing a large interest from international tourists who come to experience their authentic European atmosphere. This is what makes us unique. Chic Outlet Shopping Villages offer a luxury experience and not just retail stores said Bartlet. In 2010 we welcomed over 26 million customers to the collection. We are 57 per cent up year-to-date as of end of Q3 in tax refunded sales. And from the Middle East that is an increase of 51 per cent. This new alliance will add to the tremendous opportunity we have to reach a new audience she added. The Middle East is the second largest source market for Chic Outlet Shopping villages after China foll...
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VALUE Retail has announced plans to open their first Chic Shopping Village outside Europe. Set to open in the summer of 2013, the new village will be in Suzhou, 60 miles west of Shanghai, also known as the Venice of China. According to Sarah Bartlet PR director for Value Retail, the shopping villages in Europe have seeing a large interest from international tourists who come to experience their authentic European atmosphere.
“This is what makes us unique. Chic Outlet Shopping Villages offer a luxury experience and not just retail stores,” said Bartlet.
“In 2010 we welcomed over 26 million customers to the collection. We are 57 per cent up year-to-date as of end of Q3, in tax refunded sales. And from the Middle East that is an increase of 51 per cent. This new alliance will add to the tremendous opportunity we have to reach a new audience,” she added.
The Middle East is the second largest source market for Chic Outlet Shopping villages, after China, foll...
ACROSS industries and sectors some of the most significant sea changes have been spawned by challenges to widely-held perceptions. Think of the first time someone realised that the internet could be a social platform rather than a vehicle for one-to-one communication and a placard for impersonal pages. Or when going shopping no longer meant going to the mall or a physical store. Or a little closer to home when someone decided that the in-flight meal didn t have to be an included extra. The airline industry is poised for another evolution this one challenging the perception that an in-flight retail experience must be limited to the confines of the cabin or even to the duration of the flight. It is a bold challenge being made by a bold company with a bold new concept: GuestLogix and the branded onboard store. The new in-flight retail environment will be distinguished not by the reselling of once-included products and services but rather b...
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ACROSS industries and sectors, some of the most significant sea changes have been spawned by challenges to widely-held perceptions. Think of the first time someone realised that the internet could be a social platform, rather than a vehicle for one-to-one communication and a placard for impersonal pages. Or when going shopping no longer meant going to the mall or a physical store. Or, a little closer to home, when someone decided that the in-flight meal didn’t have to be an included extra.
The airline industry is poised for another evolution, this one challenging the perception that an in-flight retail experience must be limited to the confines of the cabin, or even to the duration of the flight. It is a bold challenge being made by a bold company with a bold new concept: GuestLogix and the branded onboard store.
The new in-flight retail environment will be distinguished not by the reselling of once-included products and services, but rather b...
WESTFIELD London opened to the public in W12 at the end of October and is the latest shopping and leisure destination to hit the capital city. The Shepherd s Bush centre boasts a retail floor area of 150 000 sq m which makes it the third largest shopping centre in the UK behind MetroCentre and Bluewater and overtook Centrale in Croydon as the largest shopping centre in London. It is an architectural showcase for five anchor stores of Debenhams Next Marks and Spencer House of Fraser and Waitrose as well as offering more than 265 luxury premium and high street retailers from more than 15 different countries. Shops include TAG Heuer Mulberry Tiffany & Co Thomas Pink Armani Duchamp Hugo Boss Calvin Klein Gieves & Hawkes Tommy Hilfiger All Saints Apple Bershka Boots Bose the multiplex cinema Cinema de Lux Coast Dorothy Perkins French Connection Geox Gerry Weber Habitat Hackett Jaeger Kurt Geiger Mango Mulberry Nomination Reiss Topshop and ...
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WESTFIELD London opened to the public in W12 at the end of October, and is the latest shopping and leisure destination to hit the capital city.
The Shepherd’s Bush centre boasts a retail floor area of 150,000 sq m, which makes it the third largest shopping centre in the UK behind MetroCentre and Bluewater, and overtook Centrale in Croydon as the largest shopping centre in London.
It is an architectural showcase for five anchor stores of Debenhams, Next, Marks and Spencer, House of Fraser and Waitrose, as well as offering more than 265 luxury, premium and high street retailers from more than 15 different countries. Shops include TAG Heuer, Mulberry, Tiffany & Co, Thomas Pink, Armani, Duchamp, Hugo Boss, Calvin Klein, Gieves & Hawkes, Tommy Hilfiger, All Saints, Apple, Bershka, Boots, Bose, the multiplex cinema Cinema de Lux, Coast, Dorothy Perkins, French Connection, Geox, Gerry Weber, Habitat, Hackett, Jaeger, Kurt Geiger, Mango, Mulberry, Nomination, Reiss, Topshop and ...
SABIC Innovative Plastics The Netherlands has introduced a range of materials that have been specially formulated to allow chrome plating. According to the company one recent trend in automotive design is the resurgence of chrome used on trim door handles and other decorative touches to impart a luxury look. To answer this need the company has introduced two specialised grades of its Cycoloy PC/ABS and CycolacABS resins. The materials feature low stress and superior adhesion to the metal layer and are designed to allow automobile makers to easily incorporate chrome details into their designs. The special grades of PC/ABS and ABS can be used in both injection moulding and plating processes to deliver high quality and high yields. This is especially important due to the relative expense of chrome plating the company says. In addition the use of plated plastic components as opposed to all-metal parts avoids the cost of secondary operations including milling and po...
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SABIC Innovative Plastics, The Netherlands, has introduced a range of materials that have been specially formulated to allow chrome plating.
According to the company, one recent trend in automotive design is the resurgence of chrome used on trim, door handles and other decorative touches to impart a luxury look. To answer this need, the company has introduced two specialised grades of its Cycoloy PC/ABS and CycolacABS resins.
The materials feature low stress and superior adhesion to the metal layer, and are designed to allow automobile makers to easily incorporate chrome details into their designs. The special grades of PC/ABS and ABS can be used in both injection moulding and plating processes to deliver high quality and high yields. This is especially important due to the relative expense of chrome plating, the company says.
In addition, the use of plated plastic components as opposed to all-metal parts avoids the cost of secondary operations including milling and po...
Damage from a fire in late August at a secondary unit at Saudi Arabia s largest oil refinery has cut output of gasoline and distillates and could take two to three more months to repair industry sources said. The sources said they had only recently learned of the fire and it was unclear which unit at the 550 000 barrels per day Ras Tanura plant had been affected. A gasoline-producing reforming unit at the plant has been shut down two sources said. A spokesman at state oil company Saudi Aramco was unavailable for immediate comment. Aramco has been buying gasoline to compensate for the lost output and selling naphtha the feedstock for the reformer industry sources said. This has affected their exports of distillates and gasoline said an industry source. It has also meant there is more export of the feedstock for the unit. They have sold some naphtha. Aramco has sold rare spot cargoes of naphtha the feedstock for the reformer for September and October load...
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Damage from a fire in late August at a secondary unit at Saudi Arabia’s largest oil refinery has cut output of gasoline and distillates and could take two to three more months to repair, industry sources said.
The sources said they had only recently learned of the fire and it was unclear which unit at the 550,000 barrels per day Ras Tanura plant had been affected.
A gasoline-producing reforming unit at the plant has been shut down, two sources said. A spokesman at state oil company Saudi Aramco was unavailable for immediate comment. Aramco has been buying gasoline to compensate for the lost output and selling naphtha, the feedstock for the reformer, industry sources said.
“This has affected their exports of distillates and gasoline,” said an industry source. “It has also meant there is more export of the feedstock for the unit. They have sold some naphtha.”
Aramco has sold rare spot cargoes of naphtha, the feedstock for the reformer, for September and October load...
Exxon Mobil Corp said it is getting out of the retail gas business in the United States as sky-high crude oil prices squeeze margins. Those branded service stations may be the most public aspect of Exxon s business but they account for a small part of the company s profits. Out of the roughly 12 000 Exxon Mobil branded stations in the United States Exxon the world s largest publicly-traded oil company owns about 2 220. Exxon plans to sell those service stations over several years. They include about 820 stations that it also operates. The company will maintain the Exxon and Mobil brands Exxon spokeswoman Prem Nair said. Consumers will still be buying gasoline at stations that carry the Exxon and Mobil names but they will not be owned by the company. Service stations have struggled even with 4-a-gallon plus prices because they have not been able to pass along to customers their additional costs from soaring crude oil. According to federal data ...
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Exxon Mobil Corp said it is getting out of the retail gas business in the United States as sky-high crude oil prices squeeze margins.
Those branded service stations may be the most public aspect of Exxon’s business, but they account for a small part of the company’s profits.
Out of the roughly 12,000 Exxon Mobil branded stations in the United States, Exxon, the world’s largest publicly-traded oil company, owns about 2,220.
Exxon plans to sell those service stations over several years. They include about 820 stations that it also operates.
The company will maintain the Exxon and Mobil brands, Exxon spokeswoman Prem Nair said.
Consumers will still be buying gasoline at stations that carry the Exxon and Mobil names, but they will not be owned by the company.
Service stations have struggled, even with $4-a-gallon plus prices because they have not been able to pass along to customers their additional costs from soaring crude oil.
According to federal data, ...
Singapore s Keppel Corp the world s top offshore rigs builder said that it has signed a deal with Qatar Gas Transport Company (Nakilat) to build a shipyard in the Arabian Gulf. Nakilat and Keppel s unlisted subsidiary KS Investments have agreed to form an 80-20 joint venture company Nakilat-Keppel Offshore & Marine Ltd to build and operate the 43-hectare shipyard which would cost about 450 million Keppel said in a statement. KS Investments for its 20 per cent interest would contribute 23 million in the joint venture the statement said. The proposed shipyard for repair and maintenance of LNG carriers and the conversion of tankers to Floating Production Storage and Offloading vessels will be part of Qatar s Port of Ras Laffan and will be operational in 2010 Keppel said. Our vision is for the new shipyard to become a centre of excellence for the repair and maintenance of LNG carriers thereby securing a strategically important link in the supply c...
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Singapore’s Keppel Corp, the world’s top offshore rigs builder, said that it has signed a deal with Qatar Gas Transport Company (Nakilat) to build a shipyard in the Arabian Gulf.
Nakilat and Keppel’s unlisted subsidiary KS Investments have agreed to form an 80-20 joint venture company – Nakilat-Keppel Offshore & Marine Ltd – to build and operate the 43-hectare shipyard which would cost about $450 million, Keppel said in a statement.
KS Investments, for its 20 per cent interest, would contribute $23 million in the joint venture, the statement said.
The proposed shipyard, for repair and maintenance of LNG carriers and the conversion of tankers to Floating Production Storage and Offloading vessels, will be part of Qatar’s Port of Ras Laffan and will be operational in 2010, Keppel said.
“Our vision is for the new shipyard to become a centre of excellence for the repair and maintenance of LNG carriers, thereby securing a strategically important link in the supply c...
Indonesia s state oil company Pertamina has raised the retail price of non-subsidised oil products effective from due to higher global oil prices an official said. Pertamina sells most products in the retail market at highly subsidised rates but two types of retail high-octane gasoline Pertamax and Pertamax Plus and fuel for industry are not subsidised by the government. Pertamina spokesman Toharso said in a statement the company raised Pertamax price by about 3.1 per cent to 4 900 rupiah ( 0.53) a litre from 4 750 rupiah and increased Pertamax Plus by 7.1 per cent to 5 250 rupiah a litre from 4 900 rupiah for the West Java area. He said high-octane gasoline prices for other areas were higher than prices in West Java because of transportation fees. Toharso said Pertamina also raised gasoline prices for industry by almost 14 per cent to 4 650.60 rupiah from 4 080.00 rupiah a litre and increased the diesel price for industry by 17 per cent to 5 209.50 rupiah...
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Indonesia's state oil company Pertamina has raised the retail price of non-subsidised oil products effective from due to higher global oil prices, an official said.
Pertamina sells most products in the retail market at highly subsidised rates, but two types of retail high-octane gasoline, 'Pertamax' and 'Pertamax Plus', and fuel for industry, are not subsidised by the government.
Pertamina spokesman Toharso said in a statement, the company raised Pertamax price by about 3.1 per cent to 4,900 rupiah ($0.53) a litre from 4,750 rupiah and increased Pertamax Plus by 7.1 per cent to 5,250 rupiah a litre from 4,900 rupiah for the West Java area.
He said high-octane gasoline prices for other areas were higher than prices in West Java because of transportation fees.
Toharso said Pertamina also raised gasoline prices for industry by almost 14 per cent to 4,650.60 rupiah from 4,080.00 rupiah a litre and increased the diesel price for industry by 17 per cent to 5,209.50 rupiah...
VICE Versa International pioneers in creating instant loyalty and incentive solutions says it is currently implementing the first independent network of loyalty card terminals in Dubai with the card set to be launched early this year. The aim is to gain more than 500 000 high spending visitors to Dubai per year. The network is currently being installed to run Vice Versa International s own programme the Vice Versa tourist card aimed at high spending visitors and designed to influence the way in which they spend their money in Dubai. In addition it can be used to run own-branded loyalty programmes. Studies show that loyalty programmes are most successful if the rewards offered answer the real needs of the consumer while at the same time increasing revenue for the retailer. We have spent two years developing a new solution that is unique to us and our own programme the Vice Versa tourist card is a world first. The programme featu...
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VICE Versa International, pioneers in creating instant loyalty and incentive solutions, says it is currently implementing the first independent network of loyalty card terminals in Dubai, with the card set to be launched early this year.
The aim is to gain more than 500,000 high spending visitors to Dubai per year.
The network is currently being installed to run Vice Versa International’s own programme, the Vice Versa tourist card, aimed at high spending visitors and designed to influence the way in which they spend their money in Dubai. In addition, it can be used to run own-branded loyalty programmes.
“Studies show that loyalty programmes are most successful if the rewards offered answer the real needs of the consumer, while at the same time increasing revenue for the retailer. We have spent two years developing a new solution that is unique to us and our own programme, the Vice Versa tourist card, is a world first. The programme featu...
India s Mangalore Refinery and Petrochemicals or MRPL plans to open 500 retail fuel outlets by 2010 director for finance L K Gupta said. MRPL a unit of state-run exploration major Oil & Natural Gas Corp Ltd now operates a 9.69-million tonnes a year refinery in the south Indian city of Mangalore but doesn t have any retail outlets. The company is expanding its refining capacity to 15 million tonnes a year and plans to export a third of its output by 2010 added Gupta. The remainder will be sold in the local market. Its managing director R. Rajamani earlier said MRPL sees capital expenditure touching 3.5 billion rupees ( 78.3 million) during the year to March 2007 said. Of investment planned for 2006/07 a billion rupees has been spent on boosting capacity at its refinery in the southwestern city of Mangalore which will reach an annual 15 million tonnes by 2010 from 9.7 million tonnes now R Rajamani said. The project will eventually cost the firm 80 bi...
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India’s Mangalore Refinery and Petrochemicals or MRPL, plans to open 500 retail fuel outlets by 2010, director for finance L K Gupta said.
MRPL, a unit of state-run exploration major Oil & Natural Gas Corp Ltd, now operates a 9.69-million tonnes a year refinery in the south Indian city of Mangalore but doesn’t have any retail outlets.
The company is expanding its refining capacity to 15 million tonnes a year and plans to export a third of its output by 2010, added Gupta. The remainder will be sold in the local market.
Its managing director R. Rajamani earlier said MRPL sees capital expenditure touching 3.5 billion rupees ($78.3 million) during the year to March 2007, said.
Of investment planned for 2006/07, a billion rupees has been spent on boosting capacity at its refinery in the southwestern city of Mangalore, which will reach an annual 15 million tonnes by 2010 from 9.7 million tonnes now, R Rajamani said.
The project will eventually cost the firm 80 bi...
Shell will open its first petrol pump station in Indonesia soon leading the way for the private sector and foreign firms to gain a foothold in the retail market the company said. Jakarta gave Shell BP Plc Malaysia s Petronas and five Indonesian firms temporary licences last year paving the way for them to directly import fuel and sell to local customers after revoking state oil firm Pertamina s monopoly. We are currently finalising construction of the pump station in West Java Wally Saleh Shell Indonesia s spokesman said adding that the company plans to boost its retail investments and will build more pump stations. The first station will sell high-octane gasoline at market prices he said. Oil companies are eager for a stake in the retail market in Indonesia the world s fourth-most populous nation but will have to compete against Pertamina s subsidised prices for the most popular low-grade fuels. Shell is also negotiating with Jakarta to sell low-gr...
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Shell will open its first petrol pump station in Indonesia soon, leading the way for the private sector and foreign firms to gain a foothold in the retail market, the company said.
Jakarta gave Shell, BP Plc, Malaysia’s Petronas and five Indonesian firms temporary licences last year, paving the way for them to directly import fuel and sell to local customers, after revoking state oil firm Pertamina’s monopoly.
“We are currently finalising construction of the pump station in West Java,” Wally Saleh, Shell Indonesia’s spokesman said, adding that the company plans to boost its retail investments and will build more pump stations.
The first station will sell high-octane gasoline at market prices, he said.
Oil companies are eager for a stake in the retail market in Indonesia, the world’s fourth-most populous nation, but will have to compete against Pertamina’s subsidised prices for the most popular low-grade fuels.
Shell is also negotiating with Jakarta to sell low-gr...
Oil refineries and chemical plants knocked out by Hurricane Katrina are slowly recovering but flooding power outages and broken equipment at the plants could cost more than 2 billion to repair an industry expert said. That is a conservative estimate said Larry Wall spokesman the Louisiana Mid-Continent Oil and Gas Association. We re still trying to get a handle on this thing but it is too soon to put firm numbers on the damage added Wall whose group represents oil and natural gas companies doing business in the region. This is one of the worst calamities we ve been through and it is one of the worst I ve seen as far as hurricane damage. As refineries struggle with the devastation Wall said companies are unlikely to relocate their facilities to avoid future hurricanes that have become increasingly common along the US Gulf Coast which accounts for 40 per cent of all US crude oil output. The refineries aren t going anywhere said Wall. There is...
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Oil refineries and chemical plants knocked out by Hurricane Katrina are slowly recovering but flooding, power outages and broken equipment at the plants could cost more than $2 billion to repair, an industry expert said.
“That is a conservative estimate,” said Larry Wall, spokesman the Louisiana Mid-Continent Oil and Gas Association.
“We’re still trying to get a handle on this thing, but it is too soon to put firm numbers on the damage,” added Wall, whose group represents oil and natural gas companies doing business in the region.
“This is one of the worst calamities we’ve been through and it is one of the worst I’ve seen as far as hurricane damage.”
As refineries struggle with the devastation, Wall said companies are unlikely to relocate their facilities to avoid future hurricanes that have become increasingly common along the US Gulf Coast, which accounts for 40 per cent of all US crude oil output.
“The refineries aren’t going anywhere,” said Wall.
“There is...
Europe is heading for a reasonably light spring oil refinery turnaround season further alleviating worries over gasoline supply in the peak summer driving season. While a heavy shutdown programme last year contributed to a products-led run-up in world oil prices to record highs end-May US gasoline stocks are this year expected by the US government to be 11.4 million barrels up year-on-year. An average of 520 000 barrels per day (bpd) or 3.6 per cent of west European crude distillation capacity will be down this April the peak month for refinery turnarounds during this year s spring shutdown season. The estimated total is based on planned maintenance programmes confirmed by oil majors or reported by traders familiar with their company s refinery operations. The April figure could however rise to as much as 750 000 bpd or 5.1 per cent of western European crude distillation capacity of around 14.6 million bpd if industry reports of additional planned turnaro...
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Europe is heading for a reasonably light spring oil refinery turnaround season, further alleviating worries over gasoline supply in the peak summer driving season.
While a heavy shutdown programme last year contributed to a products-led run-up in world oil prices to record highs, end-May US gasoline stocks are this year expected by the US government to be 11.4 million barrels up year-on-year.
An average of 520,000 barrels per day (bpd) or 3.6 per cent of west European crude distillation capacity will be down this April, the peak month for refinery turnarounds during this year’s spring shutdown season.
The estimated total is based on planned maintenance programmes confirmed by oil majors or reported by traders familiar with their company’s refinery operations.
The April figure could, however, rise to as much as 750,000 bpd, or 5.1 per cent of western European crude distillation capacity of around 14.6 million bpd, if industry reports of additional planned turnaro...
Hyundai Oilbank Corp South Korea s fourth-biggest oil refiner has finalised plans for maintenance work at its refineries this year industry sources have said. The refiner would shut its No 1 crude distillation unit (CDU) which has a capacity of 110 000 barrels per day (bpd) from May 20 through June 14 for regular maintenance work the sources said. Under tentative plans Hyundai had previously set the turnaround for a period of three weeks starting in late May. The refiner does not have maintenance plans for its other CDU which has a capacity of 200 000 bpd. The company has total refining capacity of 310 000 bpd. Meanwhile LG-Caltex Oil Corp South Korea s second-biggest oil refiner will skip its diesel exports for March as it needs to build up petroleum stocks ahead of plant maintenance planned for April a company source said. The move runs counter to previous expectations among traders that the refiner might export about three 40 000-tonne cargoe...
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Hyundai Oilbank Corp, South Korea’s fourth-biggest oil refiner, has finalised plans for maintenance work at its refineries this year, industry sources have said.
The refiner would shut its No 1 crude distillation unit (CDU), which has a capacity of 110,000 barrels per day (bpd), from May 20 through June 14 for regular maintenance work, the sources said.
Under tentative plans, Hyundai had previously set the turnaround for a period of three weeks starting in late May.
The refiner does not have maintenance plans for its other CDU, which has a capacity of 200,000 bpd.
The company has total refining capacity of 310,000 bpd.
Meanwhile, LG-Caltex Oil Corp, South Korea’s second-biggest oil refiner, will skip its diesel exports for March as it needs to build up petroleum stocks ahead of plant maintenance planned for April, a company source said.
The move runs counter to previous expectations among traders that the refiner might export about three 40,000-tonne cargoe...
Indonesian state oil firm Pertamina plans to shut for three weeks its 60 000-barrel-per-day (bpd) crude distillation unit (CDU) at the Balikpapan refinery in March for maintenance a company official said. The 60 000-bpd CDU at Balikpapan refinery needed maintenance in June this year. Because of the domestic political situation we have delayed that to March next year said the official. Pertamina plans to shut the unit for around 21 days and the preparation is under way the official said. ...
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Indonesian state oil firm Pertamina plans to shut for three weeks its 60,000-barrel-per-day (bpd) crude distillation unit (CDU) at the Balikpapan refinery in March for maintenance, a company official said.
“The 60,000-bpd CDU at Balikpapan refinery needed maintenance in June this year. Because of the domestic political situation, we have delayed that to March next year,” said the official.
“Pertamina plans to shut the unit for around 21 days and the preparation is under way,” the official said.
A heavy round of maintenance at European refineries this autumn will peak during October when at least six per cent of crude distillation and conversion capacity will be offline according to Reuters calculations. The turnarounds threaten to have the greatest impact on oil product supply and market prices in mid-October when the two biggest refineries in western Europe both in the Rotterdam trading hub are scheduled to be partially shut at the same time. The shutdowns will come just as refiners gear up to meet tighter motor fuel specifications while at the same time pumping out enough heating oil to satisfy winter demand for home heating. European gasoline and diesel must contain no more than 50 parts per million sulphur from January 1 2005 down from a current 150ppm for gasoline and 350ppm for diesel. Oil company officials and traders familiar with refinery operations have told Reuters of turnarounds at crude distillation and processing units that will t...
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A heavy round of maintenance at European refineries this autumn will peak during October when at least six per cent of crude distillation and conversion capacity will be offline, according to Reuters calculations.
The turnarounds threaten to have the greatest impact on oil product supply and market prices in mid-October, when the two biggest refineries in western Europe, both in the Rotterdam trading hub, are scheduled to be partially shut at the same time.
The shutdowns will come just as refiners gear up to meet tighter motor fuel specifications while at the same time pumping out enough heating oil to satisfy winter demand for home heating.
European gasoline and diesel must contain no more than 50 parts per million sulphur from January 1, 2005, down from a current 150ppm for gasoline and 350ppm for diesel.
Oil company officials and traders familiar with refinery operations have told Reuters of turnarounds at crude distillation and processing units that will t...
Singapore Refining Co (SRC) has restarted on schedule the 135 000 barrels per day (bpd) No 2 crude distillation unit at its 285 000 bpd Pulau Merlimau refinery after a planned turnaround a trader said. The unit was shut since July 17 for a three-week general overhaul sources said. The No 2 CDU was oiled in on August 5 and it is currently running at low rates the trader added. SRC would hike crude throughput at this CDU flat out soon. Once the CDU is fully online overall crude runs at SRC would be raised to around 88 per cent levels (or 250 000 bpd) against the existing 60-70 per cent rates. Meanwhile SRC has also restarted the 10 000 bpd No 1 hydrocracker but it would require a few more days before SRC could run the unit flat out. The catalyst in the hydrocracker needs some time to run in after a general maintenance one trader explained. SRC is equally owned by Singapore Petroleum Co and ChevronTexaco. ...
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Singapore Refining Co (SRC) has restarted on schedule the 135,000 barrels per day (bpd) No 2 crude distillation unit at its 285,000 bpd Pulau Merlimau refinery after a planned turnaround, a trader said.
The unit was shut since July 17 for a three-week general overhaul, sources said.
“The No 2 CDU was oiled in on August 5 and it is currently running at low rates,” the trader added.
“SRC would hike crude throughput at this CDU flat out soon.”
Once the CDU is fully online, overall crude runs at SRC would be raised to around 88 per cent levels (or 250,000 bpd), against the existing 60-70 per cent rates.
Meanwhile, SRC has also restarted the 10,000 bpd No 1 hydrocracker but it would require a few more days before SRC could run the unit flat out.
“The catalyst in the hydrocracker needs some time to run in after a general maintenance,” one trader explained.
SRC is equally owned by Singapore Petroleum Co and ChevronTexaco.
US refiners could be raising the risk of fires and other plant upsets if they delay regular maintenance in order to capture high profit margins that have yielded lofty corporate earnings refinery consultants and analysts said. This summer has seen high refinery utilisation rates near full capacity and relatively few outages but if the trend continues refiners could stretch their systems leading to mechanical breakdowns and unforeseen supply problems said Katherine Spector Head of Energy Research JP Morgan Securities. Unexpected refinery problems can lead to a jump in prices particularly if fuel supplies are already tight. You can only delay maintenance for so long before something falls apart Spector said who along with other analysts offered high production figures this summer as evidence of delayed tune ups for refineries. The money s good. Why stop if you don t really have to? Refiners in Europe and Asia have also been running near breaknec...
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US refiners could be raising the risk of fires and other plant upsets if they delay regular maintenance in order to capture high profit margins that have yielded lofty corporate earnings, refinery consultants and analysts said.
This summer has seen high refinery utilisation rates near full capacity and relatively few outages, but if the trend continues refiners could stretch their systems leading to mechanical breakdowns and unforeseen supply problems, said Katherine Spector, Head of Energy Research JP Morgan Securities.
Unexpected refinery problems can lead to a jump in prices, particularly if fuel supplies are already tight.
“You can only delay maintenance for so long before something falls apart,” Spector said, who along with other analysts offered high production figures this summer as evidence of delayed tune ups for refineries. “The money’s good. Why stop if you don’t really have to?”
Refiners in Europe and Asia have also been running near breaknec...
Singapore Petroleum Company Limited (SPC) said it has signed a conditional agreement with BP Singapore Pte. Limited (BPS) a wholly owned subsidiary of UK-based British Petroleum plc (BP) for the acquisition of BPS retail marketing business in Singapore. Under the agreement SPC has granted BPS a put option and BPS has granted SPC a call option for the acquisition by SPC of BPS network of 30 retail service stations in Singapore. SPC said it has also entered into a conditional agreement to acquire BPS 7 945 000 shares in BP-Wearnes Gas Pte. Limited (BPW) representing 70 per cent of the issued and paid up capital of BPW. BPW is a joint venture company between BPS and Wearnes Gas (Private) Limited and carries on the business of bottling and distribution of Liquefied Petroleum Gas (LPG) in Singapore. The BPW shares transaction will be undertaken through Singapore Petroleum Venture Pte Ltd (SPV) a wholly owned subsidiary of SPC. SPC said the total consi...
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Singapore Petroleum Company Limited (SPC) said it has signed a conditional agreement with BP Singapore Pte.
Limited (BPS), a wholly owned subsidiary of UK-based British Petroleum plc (BP) for the acquisition of BPS’ retail marketing business in Singapore.
Under the agreement, SPC has granted BPS a put option and BPS has granted SPC a call option for the acquisition by SPC of BPS’ network of 30 retail service stations in Singapore.
SPC said it has also entered into a conditional agreement to acquire BPS’ 7,945,000 shares in BP-Wearnes Gas Pte. Limited (BPW), representing 70 per cent of the issued and paid up capital of BPW.
BPW is a joint venture company between BPS and Wearnes Gas (Private) Limited, and carries on the business of bottling and distribution of Liquefied Petroleum Gas (LPG) in Singapore.
The BPW shares transaction will be undertaken through Singapore Petroleum Venture Pte Ltd (SPV), a wholly owned subsidiary of SPC.
SPC said the total consi...
Middle East oil giant Saudi Aramco has completed maintenance of its 325 000-barrels-per-day refinery in Ras Tanura the company said. Aramco said the work was successfully completed recently and also involved comprehensive tests for seven facilities. It said the maintenance raised diesel production by 8 000 barrels per day and improved the quality of gas oil. Regional sources said in May the refinery was shut on May 10 and was scheduled to restart in early June only to be followed by the 200 000-bpd condensate splitter. ...
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Middle East oil giant Saudi Aramco has completed maintenance of its 325,000-barrels-per-day refinery in Ras Tanura, the company said.
Aramco said the work was successfully completed “recently” and also involved comprehensive tests for seven facilities.
It said the maintenance raised diesel production by 8,000 barrels per day and improved the quality of gas oil. Regional sources said in May the refinery was shut on May 10 and was scheduled to restart in early June, only to be followed by the 200,000-bpd condensate splitter.
Middle East oil giant Saudi Aramco has re-worked its spring 2004 refinery maintenance programme to minimise overlapping outages in the second quarter amid strong local demand for oil products industry sources said. They said the original plan with most turnarounds in a tight two-month period was now replaced with one that stretched out over the entire three months in an effort to ease export disruption and cover roaring domestic demand for key products such as gasoline and diesel. Aramco shut down its biggest domestic refinery the 425 000 barrels per day Rabigh plant as scheduled on March 24. The Rabigh plant is already down as per plans on March 24 and will be up in 20-25 days time one source familiar with the refinery operations said. Shipping market sources said several weeks ago that Saudi Arabia appeared to be loading as much as 14.5 million barrels of surplus crude in March presumably barrels freed for export due to the turnaround. Aramco has pus...
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Middle East oil giant Saudi Aramco has re-worked its spring 2004 refinery maintenance programme to minimise overlapping outages in the second quarter amid strong local demand for oil products, industry sources said.
They said the original plan, with most turnarounds in a tight two-month period, was now replaced with one that stretched out over the entire three months in an effort to ease export disruption and cover roaring domestic demand for key products such as gasoline and diesel.
Aramco shut down its biggest domestic refinery — the 425,000 barrels per day Rabigh plant — as scheduled on March 24.
“The Rabigh plant is already down as per plans on March 24 and will be up in 20-25 days time,” one source familiar with the refinery operations said.
Shipping market sources said several weeks ago that Saudi Arabia appeared to be loading as much as 14.5 million barrels of surplus crude in March, presumably barrels freed for export due to the turnaround.
Aramco has pus...
Kuwait has shut down the 200 000 barrels per day (bpd) crude unit at its Shuaiba refinery for scheduled repairs for more than two weeks freeing the oil for export to world markets a Kuwaiti oil official said. Mutlaq al-Azmi operations manager at the Shuaiba refinery said maintenance on the facility s crude unit started on January 3 and would continue for about 17 days. During that period Azmi said OPEC producer Kuwait would be able to export the 200 000 bpd of crude that usually runs through the refinery. The shutdown covers the crude unit and other related conversion units at Kuwait s smallest refinery he said. Five intermediary units will continue to treat diesel and kerosene and produce gasoline for the local market. Kuwait s three domestic refineries with total capacity of more than 900 000 bpd are run by Kuwait National Petroleum Co (KNPC) a unit of Kuwait Petroleum Corp. ...
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Kuwait has shut down the 200,000 barrels per day (bpd) crude unit at its Shuaiba refinery for scheduled repairs for more than two weeks, freeing the oil for export to world markets, a Kuwaiti oil official said.
Mutlaq al-Azmi, operations manager at the Shuaiba refinery, said maintenance on the facility’s crude unit started on January 3 and would continue for about 17 days.
During that period Azmi said OPEC producer Kuwait would be able to export the 200,000 bpd of crude that usually runs through the refinery.
The shutdown covers the crude unit and other related conversion units at Kuwait’s smallest refinery, he said. Five intermediary units will continue to treat diesel and kerosene and produce gasoline for the local market.
Kuwait’s three domestic refineries, with total capacity of more than 900,000 bpd, are run by Kuwait National Petroleum Co (KNPC) — a unit of Kuwait Petroleum Corp.
GMMOS ship repair services in the field of tankers gas carriers and dry cargo are available through its subsidiary GMMOSTECH Marine and Technical Services. GMMOSTECH provides services in the field of tanker gas carrier and dry cargo repair and maintenance from its base in Dubai. Formed in 1988 it provides a complete range of repair and maintenance services to international ship owners for afloat repairs at Port Rashid and Jebel Ali Port.The firm also works on a sub-contract basis with Dubai dry docks. Specialised teams of engineers undertake steel fabrication piping installation and mechanical repairs to main engines auxiliary and deck machinery pumps turbines and hydraulic systems. The company also undertakes a full range of electrical repairs and installation in addition to the repair and overhaul of refrigerators and air conditioning plants. Boiler repairs of both a major and minor nature are handled by a structured team.The growi...
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GMMOS ship repair services in the field of tankers, gas carriers and dry cargo are available through its subsidiary GMMOSTECH Marine and Technical Services.
GMMOSTECH provides services in the field of tanker, gas carrier and dry cargo repair and maintenance from its base in Dubai.
Formed in 1988, it provides a complete range of repair and maintenance services to international ship owners for afloat repairs at Port Rashid and Jebel Ali Port.The firm also works on a sub-contract basis with Dubai dry docks.
Specialised teams of engineers undertake steel fabrication, piping installation and mechanical repairs to main engines, auxiliary and deck machinery, pumps, turbines and hydraulic systems.
The company also undertakes a full range of electrical repairs and installation in addition to the repair and overhaul of refrigerators and air conditioning plants.
Boiler repairs of both a major and minor nature are handled by a structured team.The growi...
Shell Refining Company (FOM) Bhd said it has restarted its long residue catalytic cracker (LRCC) at its Malaysian facility after an unplanned shutdown due to a technical problem. A spokesman for Shell Refining a unit of Royal Dutch/Shell said the cracker would resume full production soon. The technical problem has been sorted out and the system has been started up. The LRCC will be in full production in a few days said the spokesman. The spokesman gave no details of the technical problem. The cracker at Shell s 156 000 barrels per day Port Dickson plant produces around 100 000 tonnes per year of propylene a basic building block for the chemical industry company sources said. Shell said the two-week shutdown had temporarily halted its propylene exports to Shell Chemicals in Singapore. ...
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Shell Refining Company (FOM) Bhd said it has restarted its long residue catalytic cracker (LRCC) at its Malaysian facility after an unplanned shutdown due to a technical problem.
A spokesman for Shell Refining, a unit of Royal Dutch/Shell said the cracker would resume full production soon.
''The technical problem has been sorted out and the system has been started up. The LRCC will be in full production in a few days,'' said the spokesman.
The spokesman gave no details of the technical problem.
The cracker, at Shell's 156,000 barrels per day Port Dickson plant, produces around 100,000 tonnes per year of propylene, a basic building block for the chemical industry, company sources said.
Shell said the two-week shutdown had temporarily halted its propylene exports to Shell Chemicals in Singapore.
...Norway s oil production dipped to 2.72 million barrels per day in September from 2.90 million in August the Norwegian Petroleum Directorate (NPD) said. Maintenance halts at many fields depressed output in the summer months below a forecast average for 2002 of 3.1 million barrels per day. Norway s draft budget earlier forecast that 2003 output will slip to 3.0 million. The NPD said that petroleum production in August totalled 20.0 million standard cubic metres of oil equivalents comprising 14.3 million of oil 4.1 of gas and 1.6 million of condensate and natural gas liquids. The state-run NPD did not give any figures for September apart from a provisional 2.72 million bpd for oil output. Meanwhile Statoil ASA Norway s biggest oil and gas group awarded a contract to M W Kellogg for construction work at the Kaarstoe gas plant in west Norway. It said that the deal covered expansion of Kaarstoe to receive and process gas from the Kristi...
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Norway's oil production dipped to 2.72 million barrels per day in September from 2.90 million in August, the Norwegian Petroleum Directorate (NPD) said.
Maintenance halts at many fields depressed output in the summer months below a forecast average for 2002 of 3.1 million barrels per day. Norway's draft budget earlier forecast that 2003 output will slip to 3.0 million.
The NPD said that petroleum production in August totalled 20.0 million standard cubic metres of oil equivalents, comprising 14.3 million of oil, 4.1 of gas and 1.6 million of condensate and natural gas liquids.
The state-run NPD did not give any figures for September apart from a provisional 2.72 million bpd for oil output.
Meanwhile, Statoil ASA, Norway's biggest oil and gas group, awarded a contract to M W Kellogg for construction work at the Kaarstoe gas plant in west Norway.
It said that the deal covered expansion of Kaarstoe to receive and process gas from the Kristi...
Resurgent driving demand pushed US retail gasoline prices up more than 10 per cent over the last two weeks the biggest fortnightly rise on record according to the Lundberg survey of national service stations. The national average for regular unleaded gasoline rocketed more than 14 cents to 1.347 per gallon in the two weeks ended March 22 powered by a jump in world crude oil prices and hungry fuel demand in a recovering US economy. The US economy is on the upward move and there is an increase in gasoline demand anyway after winter said Trilby Lundberg editor of the survey. US gasoline demand - more than 10 per cent of all world oil consumption - has been surprisingly strong in recent weeks. Mild winter weather has brought drivers out onto the roads and a reluctance to fly since the September 11 attacks has encouraged car travel. Demand has been further buoyed by a fall in pump prices over the winter. National average prices were ru...
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Resurgent driving demand pushed US retail gasoline prices up more than 10 per cent over the last two weeks, the biggest fortnightly rise on record, according to the Lundberg survey of national service stations.
The national average for regular unleaded gasoline rocketed more than 14 cents to $1.347 per gallon in the two weeks ended March 22, powered by a jump in world crude oil prices and hungry fuel demand in a recovering US economy.
''The US economy is on the upward move, and there is an increase in gasoline demand anyway after winter,'' said Trilby Lundberg, editor of the survey.
US gasoline demand - more than 10 per cent of all world oil consumption - has been surprisingly strong in recent weeks. Mild winter weather has brought drivers out onto the roads and a reluctance to fly since the September 11 attacks has encouraged car travel.
Demand has been further buoyed by a fall in pump prices over the winter.
National average prices were ru...
South Korean refiner S-Oil plans to shut its No.1 crude distillation unit (CDU) for 15 days next month advancing maintenance that had been scheduled for between June and September a company official said. The revision in the annual turnaround was made at the request of Ulsan City which will hold soccer matches during 2002 World Cup to be co-hosted by South Korea and Japan in May and June. The city concerned about the environment asked us to consider changing the maintenance plans to not overlap with soccer matches and we accepted the request the official said. ...
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South Korean refiner S-Oil plans to shut its No.1 crude distillation unit (CDU) for 15 days next month, advancing maintenance that had been scheduled for between June and September, a company official said.
The revision in the annual turnaround was made at the request of Ulsan City, which will hold soccer matches during 2002 World Cup to be co-hosted by South Korea and Japan in May and June.
''The city, concerned about the environment, asked us to consider changing the maintenance plans to not overlap with soccer matches and we accepted the request,'' the official said.
...Singapore Refining Co (SRC) plans to shut a residual catalytic cracker (RCC) at its 285 000 barrels per day (bpd) Jurong Island plant in the fourth quarter of next year for maintenance a company source said. The 40 000 bpd RCC is likely to be shut for two to four weeks he said. But SRC has no other major turnaround planned next year and did not intend to shut any crude units for maintenance he said. We ll be doing some maintenance that will need the RCC to shut for a while but no crude unit shutdown is planned the source said. We have at times shut one of our smaller crude units for short periods when demand is low. But it s not for maintenance and not for operational reasons just economics he said. He added that SRC would keep average December crude runs at the refinery steady from November at 65to 75 per cent of capacity as oil prices were expected to be volatile. ...
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Singapore Refining Co (SRC) plans to shut a residual catalytic cracker (RCC) at its 285,000 barrels per day (bpd) Jurong Island plant in the fourth quarter of next year for maintenance, a company source said.
The 40,000 bpd RCC is likely to be shut for two to four weeks, he said.
But SRC has no other major turnaround planned next year, and did not intend to shut any crude units for maintenance, he said.
''We'll be doing some maintenance that will need the RCC to shut for a while, but no crude unit shutdown is planned,'' the source said.
''We have at times shut one of our smaller crude units for short periods when demand is low. But it's not for maintenance and not for operational reasons, just economics,'' he said.
He added that SRC would keep average December crude runs at the refinery steady from November, at 65to 75 per cent of capacity as oil prices were expected to be volatile.
...Indonesia s Pertamina state oil company is running its 60 000-barrels-per-day (bpd) Balikpapan plant around 60 per cent capacity after a 21-day shutdown for routine maintenance a company official said. The 60 000-bpd refinery was restarted. The equipment works fine. There is no problem after routine maintenance for three weeks the Pertamina official said. The refinery is currently running at 60 per cent of capacity. We will gradually increase the capacity to 100 per cent soon the official added. ...
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Indonesia's Pertamina state oil company is running its 60,000-barrels-per-day (bpd) Balikpapan plant around 60 per cent capacity after a 21-day shutdown for routine maintenance, a company official said.
''The 60,000-bpd refinery was restarted. The equipment works fine. There is no problem after routine maintenance for three weeks,'' the Pertamina official said.
''The refinery is currently running at 60 per cent of capacity. We will gradually increase the capacity to 100 per cent soon,'' the official added.
...Petronas retail arm Petronas Dagangan Bhd is gearing up to meet the prospect of increased competition in the Malaysian retail sector. Recent consolidation in the sector and the entry of new players has meant that the company must now look at opportunities to expand its retail and logistical network said chairman Mohd Hassan Marican. The events of September 11 and a slowing global economy before the attacks on the US could negatively impact the Malaysian economy - and therefore petroleum product demand. This demand was pre-September 11 expected to rise by four to five per cent this year but this is now likely to be revised downwards. For its part Petronas Dagangan Bhd has its own plans to strengthen its position as the second-largest petrol retailer in the country and compete more effectively against the large multinational oil companies. One plan is to expand the number of service stations by between 30 and 40 to more than 600. Shell i...
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Petronas' retail arm Petronas Dagangan Bhd is gearing up to meet the prospect of increased competition in the Malaysian retail sector.
Recent consolidation in the sector and the entry of new players has meant that the company must now look at opportunities to expand its retail and logistical network, said chairman Mohd Hassan Marican.
The events of September 11 and a slowing global economy before the attacks on the US could negatively impact the Malaysian economy - and therefore petroleum product demand.
This demand was, pre-September 11, expected to rise by four to five per cent this year, but this is now likely to be revised downwards.
For its part, Petronas Dagangan Bhd has its own plans to strengthen its position as the second-largest petrol retailer in the country and compete more effectively against the large multinational oil companies. One plan is to expand the number of service stations by between 30 and 40 to more than 600.
Shell i...
Malaysia s state-owned Petronas has restarted its 300 000 tonnes per year (tpy) methyl tertiary butyl ether (MTBE) plant after a turnaround a company source said. The plant in Kertih was shut for a 30-day warranty inspection and maintenance the source said. Full operating capacity is expected to be reached soon the source said. With the restart Petronas may have a small quantity of MTBE to sell in the spot market for October lifting the source added. But the source declined to disclose the volume available or the company s offer price due to uncertainty in the market in the aftermath of the terrorist attacks in the US. Asia s MTBE market has stabilised after a minor knee-jerk reaction after the US plane attack the source added. October cargoes are currently being valued at 305 to 315 per tonne FOB Singapore. ...
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Malaysia's state-owned Petronas has restarted its 300,000 tonnes per year (tpy) methyl tertiary butyl ether (MTBE) plant after a turnaround, a company source said.
The plant in Kertih was shut for a 30-day warranty inspection and maintenance, the source said.
Full operating capacity is expected to be reached soon, the source said.
With the restart, Petronas may have a ''small quantity'' of MTBE to sell in the spot market for October lifting, the source added.
But the source declined to disclose the volume available or the company's offer price due to uncertainty in the market in the aftermath of the terrorist attacks in the US.
Asia's MTBE market has stabilised after a minor knee-jerk reaction after the US plane attack, the source added.
October cargoes are currently being valued at $305 to $315 per tonne FOB Singapore.
...Nearly five per cent of European refining capacity will be shut for maintenance this month raising concerns over potential gasoline shortages traders said. Several major turnarounds are planned by German refiners but a sizeable chunk of Mediterranean refinery capacity is also due for maintenance according to regional players. Combined with the US this is the biggest shutdown programme for 10 years said a gasoline trader with a European oil major. Others said the European turnaround programme was broadly in line with seasonal norms but that this year s autumn shutdowns had been concentrated over a shorter period to allow refiners to make alterations in fuel specifications. Most crucially refiners are gearing up for a November 1 switch in Germany to ultra-low sulphur diesel which with a 50 parts per million (ppm) sulphur content will replace the current 350 ppm quality. Our estimate is that about 600 000 barrels per day of cru...
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Nearly five per cent of European refining capacity will be shut for maintenance this month, raising concerns over potential gasoline shortages, traders said.
Several major turnarounds are planned by German refiners, but a sizeable chunk of Mediterranean refinery capacity is also due for maintenance, according to regional players.
''Combined with the US, this is the biggest shutdown programme for 10 years,'' said a gasoline trader with a European oil major.
Others said the European turnaround programme was broadly in line with seasonal norms, but that this year's autumn shutdowns had been concentrated over a shorter period to allow refiners to make alterations in fuel specifications.
Most crucially, refiners are gearing up for a November 1 switch in Germany to ultra-low sulphur diesel, which, with a 50 parts per million (ppm) sulphur content, will replace the current 350 ppm quality.
''Our estimate is that about 600,000 barrels per day of cru...
UK independent Enterprise Oil said that output at its Nelson platform in the North Sea was back to around 70 000 barrels per day (bpd) after maintenance work slashed production to just 25 000 bpd. It said that remedial work on a faulty gas compressor had been completed and the compressor had been re-installed at the platform. Production had been cut to just 25 000 bpd in late July to allow for the faulty compressor to be reassembled. Enterprise has operated the Nelson field since first oil in 1994. It was discovered in 1988 and has produced over 300 million barrels of oil the company said. Meanwhile Norwegian state-controlled oil and gas company Statoil said that it had halted gas production at its Aasgard B platform and reduced oil output at the Aasgard A production ship following a gas leak. It said oil production on Aasgard A was reduced to 145 000 barrels per day (bpd) from 165 000 bpd as a result of the shutdown. It said the...
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UK independent Enterprise Oil said that output at its Nelson platform in the North Sea was back to around 70,000 barrels per day (bpd) after maintenance work slashed production to just 25,000 bpd.
It said that remedial work on a faulty gas compressor had been completed and the compressor had been re-installed at the platform.
Production had been cut to just 25,000 bpd in late July to allow for the faulty compressor to be reassembled.
Enterprise has operated the Nelson field since first oil in 1994. It was discovered in 1988 and has produced over 300 million barrels of oil, the company said.
Meanwhile, Norwegian state-controlled oil and gas company Statoil said that it had halted gas production at its Aasgard B platform and reduced oil output at the Aasgard A production ship, following a gas leak.
It said oil production on Aasgard A was reduced to 145,000 barrels per day (bpd) from 165,000 bpd as a result of the shutdown.
It said the...
South Korean refinery runs will fall this month as a second round of heavy maintenance is scheduled to take place industry sources said. Last month three of five major oil refiners restarted crude distillation units totalling 405 000 barrels per day (bpd) in capacity which were shut in May for annual maintenance. The next round of maintenance closures will see South Korea lose about 462 000 bpd in capacity in July. South Korea has a total refining capacity of 2.65 million bpd. South Korea s largest refiner SK Corp has already shut down its 170 000 bpd No 3 CDU at its 870 000 bpd Ulsan refinery from June 18 for 35 to 45 days. The refiner will also shut its 60 000 bpd No 1 CDU on July 18 for two weeks. The country s largest refined petroleum product exporter S-Oil Corp will shut down its 232 000 bpd No 2 CDU at its 525 000 bpd Onsan refinery in mid-July for 30 to 45 days. Crude throughput in August is expected to edge up slightly f...
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South Korean refinery runs will fall this month as a second round of heavy maintenance is scheduled to take place, industry sources said.
Last month, three of five major oil refiners restarted crude distillation units totalling 405,000 barrels per day (bpd) in capacity which were shut in May for annual maintenance.
The next round of maintenance closures will see South Korea lose about 462,000 bpd in capacity in July. South Korea has a total refining capacity of 2.65 million bpd.
South Korea's largest refiner SK Corp has already shut down its 170,000 bpd No 3 CDU at its 870,000 bpd Ulsan refinery from June 18 for 35 to 45 days.
The refiner will also shut its 60,000 bpd No 1 CDU on July 18 for two weeks.
The country's largest refined petroleum product exporter, S-Oil Corp, will shut down its 232,000 bpd No 2 CDU at its 525,000 bpd Onsan refinery in mid-July for 30 to 45 days.
Crude throughput in August is expected to edge up slightly f...
ExxonMobil Indonesia said a repair team had started work on vital gas field facilities in the rebellious Aceh province in preparation for resuming output as soon as possible. The company shut down three gas fields in March blaming the cumulative effect of dozens of security incidents over the past two years in the province where separatist rebels have been seeking independence for decades. Repair teams of employees and local contractors have commenced work to bring essential equipment up to production readiness in support of more normal operations company spokesman Bill Cummings told Reuters. All efforts are being made to bring the Arun fields back into gas production as soon as possible he added saying production would begin in phases. Exxon Mobil Indonesia - a unit of the world s top energy company U.S.-based Exxon Mobil Corp - is Indonesia s second-largest producer of liquefied natural gas (LNG) with total output of 1.66 billion cubic f...
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ExxonMobil Indonesia said a repair team had started work on vital gas field facilities in the rebellious Aceh province in preparation for resuming output as soon as possible.
The company shut down three gas fields in March, blaming the cumulative effect of dozens of security incidents over the past two years in the province, where separatist rebels have been seeking independence for decades.
'Repair teams of employees and local contractors have commenced work to bring essential equipment up to production readiness in support of more normal operations,' company spokesman Bill Cummings told Reuters.
'All efforts are being made to bring the Arun fields back into gas production as soon as possible,' he added, saying production would begin in phases.
Exxon Mobil Indonesia - a unit of the world's top energy company, U.S.-based Exxon Mobil Corp - is Indonesia's second-largest producer of liquefied natural gas (LNG) with total output of 1.66 billion cubic f...
Saudi Aramco s troubled 44 000 barrels per day (bpd) hydrocracking unit at the Ras Tanura refinery will be closed until at least June or July to undergo essential maintenance work a trader said. The unit was last shut down for maintenance in January. Last year Aramco shut the hydrocracker unit down in July barely two months after it had resumed operations following several false starts. The hydrocracker is part of a 1.5 billion upgrade at the refinery that includes a 60 000 bpd visbreaker and a 40 000 bpd continous catalytic reformer. The Saudi Arabian refinery s total capacity is 325 000 bpd. When all secondary units are running official figures show the refinery produces 114 000 bpd of diesel or gas oil 117 000 bpd of gasoline 60 000 bpd of heavy fuel and 21 000 bpd of jet fuel. Traders said European middle distillate markets were most likely to be unaffected by the closure but predicted Asian markets would take it less ligh...
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Saudi Aramco's troubled 44,000 barrels per day (bpd) hydrocracking unit at the Ras Tanura refinery will be closed until at least June or July to undergo essential maintenance work, a trader said.
The unit was last shut down for maintenance in January.
Last year Aramco shut the hydrocracker unit down in July, barely two months after it had resumed operations following several false starts.
The hydrocracker is part of a $1.5 billion upgrade at the refinery that includes a 60,000 bpd visbreaker and a 40,000 bpd continous catalytic reformer.
The Saudi Arabian refinery's total capacity is 325,000 bpd.
When all secondary units are running, official figures show the refinery produces 114,000 bpd of diesel or gas oil, 117,000 bpd of gasoline, 60,000 bpd of heavy fuel and 21,000 bpd of jet fuel.
Traders said European middle distillate markets were most likely to be unaffected by the closure, but predicted Asian markets would take it less ligh...
British fuel retail margins have been slashed since the New Year as a supermarket-led drive to cut pump prices has coincided with a jump in wholesale gasoline prices analysts said. Peter Regnier of Oil Price Assessments Limited said OPAL s provisional end-of-week profit margin enjoyed by petrol retailers had declined to 3.65 pence (5.8 US cents) per litre from 5.9p recently and 7.8p at the very end of December. UK margins are now below 4p per litre they re going back to being inadequate again Regnier said. Supermarkets led a move joined by oil majors to cut fuel prices amid public unease over soaring retail profits during the last quarter of last year. Regnier said further pump price erosion could not be ruled out as oil majors try to keep up with the cuts introduced by the supermarket chains. ...
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British fuel retail margins have been slashed since the New Year as a supermarket-led drive to cut pump prices has coincided with a jump in wholesale gasoline prices, analysts said.
Peter Regnier of Oil Price Assessments Limited said OPAL's provisional end-of-week profit margin enjoyed by petrol retailers had declined to 3.65 pence (5.8 US cents) per litre from 5.9p recently and 7.8p at the very end of December.
''UK margins are now below 4p per litre, they're going back to being inadequate again,'' Regnier said.
Supermarkets led a move, joined by oil majors, to cut fuel prices amid public unease over soaring retail profits during the last quarter of last year.
Regnier said further pump price erosion could not be ruled out as oil majors try to keep up with the cuts introduced by the supermarket chains.
...Norwegian state oil firm Statoil said its North Sea oil platform Statfjord A has been shut down for a two-week maintenance also closing Norsk Hydro s nearby Snorre oilfield. Work at the Statfjord A installation one of three platforms serving the Statfjord field had been put off from May because of a strike by private sector workers in Norway. More than 200 000 barrels per day (bpd) flow through the Stafjord s platform A including about 50 000 bpd from its own wells and 160 000 bpd from Snorre. Any shutdown at Statfjord A also closes Snorre. ...
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Norwegian state oil firm Statoil said its North Sea oil platform Statfjord A has been shut down for a two-week maintenance, also closing Norsk Hydro's nearby Snorre oilfield.
Work at the Statfjord A installation, one of three platforms serving the Statfjord field, had been put off from May because of a strike by private sector workers in Norway.
More than 200,000 barrels per day (bpd) flow through the Stafjord's platform A, including about 50,000 bpd from its own wells and 160,000 bpd from Snorre. Any shutdown at Statfjord A also closes Snorre. ...
