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Naif Alrajhi Investment and Jones the Grocer announce brand expansion across Saudi Arabia.
Naif Alrajhi Investment, Jones the Grocer announce brand expansion across Saudi Arabia
RIYADH — Jones the Grocer, the Australian speciality gourmet food retailer and award-winning café, announces a broader expansion across the Middle East with a multiple store development deal across Saudi Arabia with Naif Alrajhi Investment.Naif Saleh Alrajhi, chairman and chief executive officer of Naif Alrajhi Investment company, said, "We are delighted to partner with Jones the Grocer and its supreme offering to further expand and diversify our portfolio in the promising food and beverage sector. We are confident that Jones the Grocer will become a competitive dining destination due to the constant demand for quality and unique restaurants in Saudi Arabia.”Yunib Siddiqui, chief executive officer of Jones the Grocer, said, “We’ve come a long way since our first ever store in...
October 01, 2019

Naif Alrajhi Investment, Jones the Grocer announce brand expansion across Saudi Arabia

Omar Rifai (right) and Majd Khodr
Gulf Capital expands its private debt business
DUBAI — –Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, announced Monday that its regional private debt platform, Gulf Credit Partners, has made two additional senior hires, with the appointment of Omar Rifai as Managing Director and Majd Khodr as Vice president.Based in Dubai, Rifai joins from Standard Chartered Private Equity (SCPE) where he was a founding member of its Middle East and North Africa business and where he led numerous private equity and mezzanine investments across the region. In addition to his strong structuring skills and deep experience in mezzanine and private equity investments, Omar brings substantial portfolio management experience from his previous dual role as Head of Portfolio Management at SCPE, which had a...
September 30, 2019

Gulf Capital expands its private debt business

Galaxy A10s and A30s now available in the Kingdom
JEDDAH – Samsung Electronics Co., Ltd. revealed the launch of its latest smartphones from its Galaxy A series, the Galaxy A10s and the Galaxy A30s. Boasting a modern design and jam-packed with the latest innovative technology and optimal performance, the new phones will be available soon in the Kingdom to meet the ever-evolving needs of Saudi customers."The launch of the Galaxy A10s and A30s showcases our continuous efforts to provide our valued Saudi customers with a variety of high-tech smartphones to suit their different tastes and lifestyles. The success of the Galaxy A series in the Kingdom is validation of our understanding of Saudi consumers’ needs, and with this new line-up of smartphones, we are making the Galaxy A series accessible to everyone,” said YJ Kim, President...
September 30, 2019

Galaxy A10s and A30s now available in the Kingdom

Wyndham Hotels & Resorts
Wyndham unveils plans to add value for franchisees
DUBAI – Wyndham Hotels & Resorts – the world’s largest hotel franchising company with approximately 9,200 hotels across more than 80 countries – outlined plans to advance its position as the world’s leading provider of select-service hotel brands before thousands of its franchisees at its first global conference as an independent hotel company.With a focus on enhancing returns for its nearly 6,000 franchisees, the Company unveiled several initiatives designed to elevate its brands, deliver incremental resources to its owners, grow its presence and meet the needs of today’s travelers.“As the world’s largest hotel franchisor, our commitment to making hotel travel possible for all starts with our franchisees,” said Geoff Ballotti, president and CEO of Wyndham Hotels &...
September 30, 2019

Wyndham unveils plans to add value for franchisees

Virgin Hyperloop One
Hyperloop set to be most energy-efficient transport
NEW YORK– Virgin Hyperloop One (VHO), the world’s leading hyperloop company, on Monday announced that its groundbreaking hyperloop system is poised to be the most energy-efficient mode of mass transportation in the world. In conjunction with Climate Week NYC, Los Angeles-based Virgin Hyperloop One made its announcement from Rockefeller Plaza® at Rockefeller Center® in New York City, where it is showcasing its XP-1 test vehicle from its Nevada test track. VHO also announced that it is joining the Ellen MacArthur Foundation’s CE100 network, which brings together businesses, innovators, cities, governments, and universities committed to accelerating the transition to a circular economy.“As the world’s population grows, especially our urban populations, global demands for rapid,...
September 30, 2019

Hyperloop set to be most energy-efficient transport

ناراينان فينكاتارامان، المدير العام لشركة HP Inc. في المملكة العربية السعودية
World’s first cartridge-free laser printer now available in Saudi Arabia
RIYADH — Continuing to reinvent smart printing, HP Inc. launched the world’s first cartridge-free printer – the HP Neverstop Laser, in Saudi Arabia.Designed specifically for small and medium business (SMB) owners, the launch of the revolutionary printer saw close to 200 entrepreneurs and business owners gather at Prince Sultan Grand Hall, Al Faisaliah Hotel to discuss market opportunities, challenges on starting up and insights on their success. The event included attendance from executives from the HP leadership team.The hero product of the event, the Neverstop Laser is a groundbreaking, rapid reload laser printer that enables efficiencies for entrepreneurs who don’t want to waste time on interruptions. With a first of its kind toner supply system that allows users to replace the...
September 30, 2019

World’s first cartridge-free laser printer now available in Saudi Arabia

Shawarmer marks 20th year by opening 100th restaurant
RIYADH — The Shawarmer restaurant group celebrated its 20th anniversary this week with the opening of its 100th location, marking a three-year aggressive expansion strategy that saw the company more than double the size of its operation.Shawarmer, owned by Innovative Foods Holding, is one of the largest and fastest growing Saudi owned and operated restaurant groups. The company has opened 20 new locations in just over a year and 50 restaurants since 2016 while expanding its presence to more than 20 cities across the Kingdom. As a result of that expansion, the Innovative Foods and Shawarmer workforce has grown to more than 1,500 employees, with 23% representing Saudi nationals.“We credit our growth and success to the thousands of loyal Shawarmer fans who appreciate and value how we have...
September 30, 2019

Shawarmer marks 20th year by opening 100th restaurant

Investment reforms, 2020 events to fuel GCC growth
DUBAI — PwC expects investment reform and the increased focus on the GCC, driven by EXPO and the G20 in 2020, to help drive future growth and instill confidence in the region despite current turbulence in the oil market, deflation and growing fiscal pressures in some countries.In the latest issue of its Middle East Economy Watch, PwC looks beyond the standard indicators to review the positive changes that have been underway in the landscape for foreign investment and public-private partnerships (PPP). The report also looks at the growing interest in the Gulf by emerging market equity and bond investors made possible by capital market reforms, another positive indicator for the region’s growth prospects. And finally, PwC looks at the potential impact and significance of two of next...
September 30, 2019

Investment reforms, 2020 events to fuel GCC growth

Dubai developers race to lure buyers as downturn bites
DUBAI — Dubai, a city defined by its glittering towers and man-made islands, is stuck in a five-year property downturn with no end in sight, drawing warnings of an industry reckoning that will see weaker players fail.Property developers are slashing prices and offering ultra-easy financing to lure customers, while concerned authorities have stepped in with incentives and regulations to revive the crucial sector.Ahead of the Expo 2020 global trade fair that Dubai hopes will deliver an economic windfall and some 300,000 new jobs, hundreds of mega projects have been unveiled in recent years, leading to an oversupply and a slide in prices.The government rushed to rescue the sector in 2018 with a raft of measures including easy visa terms for expatriate buyers and permanent residence permits...
September 30, 2019

Dubai developers race to lure buyers as downturn bites

egypt rates
Egypt seen to cut rates further to boost growth
CAIRO — Egypt's rate cut and easing inflation willsupport bank revenue, Moody’s said.On September 26, the Central Bank of Egypt (CBE) cut its benchmark interest rates by 100basis points (bp), lowering the discount rate to 13.75%, a credit positive for banks.With inflation now below the CBE's 9% target, Moody’s Investors Service expects additional rate cuts over the next year, which will bolster business confidence and economic growth, supporting increased credit growth and business opportunities for banks, which will outweigh pressure on their netinterest margins.Lower interest rates and inflation will encourage capital spending by businesses that have been holding back on such investments, supporting consumer spending through enhanced debt affordability and government...
September 30, 2019

Egypt seen to cut rates further to boost growth

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