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6201 - 6210 from 16551 . In "BUSINESS"
Audi Q8
SAMACO-Audi sales log 12% growth in H1
JEDDAH — SAMACO-Audi sales have seen solid growth for key models during the first half of 2019 in comparison to 2018 in Saudi Arabia and especially for the new Audi Q8, the halo model of the Q Range. The Q8 has been the biggest seller for 2019 with 28% of the total volume. Other winning models include the A8, with a 26% growth and the A3 & Q5, which have each achieved a 12% increase over the same period last year in Saudi Arabia.The Audi Q8 combines the elegance of a four-door luxury coupé with the practical versatility of a large SUV and has been eagerly in demand since its launch in the region during Q3 2018. Richly equipped, comprehensively connected and tough enough for off-road duty, it is a confident companion for business and leisure. This combination of luxury and performance...
August 28, 2019

SAMACO-Audi sales log 12% growth in H1

Interior of New Jersey showroom
Malabar Gold & Diamonds continues global expansion
MUMBAI/DUBAI — Malabar Gold & Diamonds, one of the world’s largest jewelry retailer, announced ambitious global growth plan in line with the FY 2023 global expansion plan laid down by the brand in October 2018. The brand will be opening 21 new outlets in the coming 6 months.‘We are getting wide acceptance in the global and Indian market place. Our core business values such as adherence to transparency, honesty, quality along with our value added services, product designs that suited to every class of customers’ taste cutting across age group are the key factors that give us global acceptance. In 2019 too, we will be opening more showrooms as well as manufacturing units along with skill development centers to groom the youth and absorb them in various job profiles. This will fuel...
August 28, 2019

Malabar Gold & Diamonds continues global expansion

Saudi Arabia's deflation seen to normalize in 2020
RIYADH — KPMG Al Fozan & Partners, the leading provider of audit, tax and advisory services in Saudi Arabia, on Wednesday released its report on the inflationary trends in the Kingdom of Saudi Arabia, which analyzes the general price increase trends from 1964 to 2019.Saudi Arabia overhauled its tax system to increase revenue from its non-oil sectors as it successfully introduced VAT in January 2018. The VAT for most goods and services, such as food and beverages, domestic transportation, hotels, private education, and private healthcare, put upward pressures on prices, as inflation reached to 2.5 per cent in 2018 from -0.8 percent in 2017.“Although the introduction of VAT was essential to achieve some of the Vision 2030 goals, such as increasing non-oil revenue, other economic...
August 28, 2019

Saudi Arabia's deflation seen to normalize in 2020

SK Charity Activation
Skechers uses ‘fun’ as a mode to instill values
RIYADH — It’s still the middle of summer, but it’s not too early to think about heading back to school by helping a child in need.Did you know that 300 million children across the globe are in desperate need of shoes? When you give shoes to a child, you give so many other things like Hope, Dignity and Joy. A new pair of shoes can be life-changing for kids in need.This Back to School season, Skechers in association with Society for Families of the Martyrs of Duty and Red Sea Mall Jeddah, Hayat Mall Riyadh & Al Qasr Mall Riyadh, gives back by giving kids from underprivileged countries the right pair of shoes to attend school with dignity and joy.As part of the partnership, Skechers has set-up a life size ‘Shoe-Box’ at the main atrium at each of the above malls. The shoe-box is...
August 27, 2019

Skechers uses ‘fun’ as a mode to instill values

US consumer confidence falls but only slightly
WASHINGTON — US consumer confidence fell less than expected in August, with households still upbeat about the labor market despite an escalation in trade tensions, which has cast a shadow over the longest economic expansion in history.While the survey from the Conference Board on Tuesday did not change expectations that the Federal Reserve will cut interest rates again next month, it further reduced the chances of an aggressive easing to counter the effects of the US-China trade war, including tighter financial conditions.Fed Chair Jerome Powell told a conference of central bankers last week that the economy was in a "favorable place," but reiterated that the US central bank would "act as appropriate" to keep the economic expansion, now in its 11th year, on track.The...
August 27, 2019

US consumer confidence falls but only slightly

Archana Anand
ZEE5 subscriptions available at Eurostar retail outlets in GCC
DUBAI — In yet another key announcement for the Middle East region, Global digital entertainment platform ZEE5, announced its partnership with UAE based digital retail giant, the Eurostar Group This strategic partnership will enable people across the GCC countries to access ZEE5’s huge library of 100,000 hours of entertainment content through subscription packs available at any of Eurostar and its partner outlets across GCC.Customers in UAE and other GCC markets can now buy any ZEE5 subscription pack by simply walking into their nearest Eurostar retail outlet and choosing between ZEE5’s daily, weekly, monthly and annual subscription packs, at 1.49 AED, 5.99 AED, 18.99 AED and 149.99 AED respectively without needing a credit card. Select outlets will also provide a full product demo...
August 27, 2019

ZEE5 subscriptions available at Eurostar retail outlets in GCC

stocks
US stocks lose steam as hopes waver for US-China trade deal
NEW YORK — Equity indexes on Wall Street gave up earlier gains on Tuesday amid uncertainty over the prospects for a US-China trade deal, while demand for US treasuries and precious metals grew, showing an appetite for less-risky investments.Bond market investors showed a cautious picture as the margin on interest rates on US three-month Treasury bills over the yields on benchmark 10-year Treasury notes grew to its widest level since early 2007.Gold rose as investors sought cover from worries over global economic growth and trade, while silver latched on to bullion's rally to breach the $18 an ounce mark for the first time in nearly two years.The US benchmark S&P 500 index fell as investors lost some of the trade optimism that had helped boost overseas markets.Stock markets in Asia...
August 27, 2019

US stocks lose steam as hopes waver for US-China trade deal

Oman
Oman’s largest utility-scale solar PV IPP
MUSCAT — A consortium composed of ACWA Power, Gulf Investment Corporation (GIC), and Alternative Energy Projects Co. (AEPCo) has executed the project agreements for the development of Ibri-2 Independent Power Producer (IPP) with the Oman Power and Water Procurement Company (“OPWP”). The project, to be developed on a BOO (build, own, operate) basis, includes the development, finance, construction, and operation of the 500 MWac solar PV power plant. The project will be located around 300km west of Muscat, and will contribute towards increasing power supplies in the Sultanate.OPWP awarded the project to the winning consortium following an international competitive tendering process that included 12 qualified bidders. The winning consortium submitted the best economic tariff for the...
August 27, 2019

Oman’s largest utility-scale solar PV IPP

Harbin Amusement Park
Children biggest influence for holiday choices in Saudi family
JEDDAH — A new poll of KSA residents has revealed the top travel preferences and habits of today’s modern family.The research, conducted by Disney Destinations – home to the world’s most magical entertainment and recreational destinations – examined KSA families’ key motivators and preferences and the deferring spending habits of families.The survey found that children were the biggest influence on family holiday choices, with 50 percent of parents stating that their children have the highest influence on vacation destinations and activities, whilst 14 percent of respondents consider social influencers to impact their holiday decisions.Almost half (48 percent) of KSA residents polled look for all-inclusive vacation options which include convenience elements such as flights,...
August 27, 2019

Children biggest influence for holiday choices in Saudi family

CPhI Middle East and Africa event
Saudi Arabia’s pharma market to reach $10.74 billion by 2022
ABU DHABI — The rapid growth of Saudi Arabia’s pharmaceutical market will be placed under the spotlight at the forthcoming CPhI Middle East and Africa event, as the latest industry data reveals the Kingdom’s pharmaceutical market is expected to be valued at $10.74 billion (SR40.1 billion) by 2023.The event, sponsored by the Ministry of Health and Prevention (MoHaP), returns to the Abu Dhabi National Exhibition Centre (ADNEC) on Sept. 16-18 and will explore the rapid reform of the country’s healthcare system at both regulatory and service provision levels, in line with Saudi Arabia’s Vision 2030 and the National Transformation Program.According to the latest IQVIA Market Prognosis – Saudi Arabia report, the kingdom’s pharmaceutical market is expected to grow at a Compound...
August 27, 2019

Saudi Arabia’s pharma market to reach $10.74 billion by 2022

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