Hempel Paints to Transfer All of Saudi Arabia's Manufacturing Operations to New Factory in Jeddah

Hempel Paints to Transfer All of Saudi Arabia’s Manufacturing Operations to New Factory in Jeddah

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Hempel Paints to Transfer All of Saudi Arabia’s Manufacturing Operations to New Factory in Jeddah

Hempel Paints, a global supplier of marine, protective and decorative coatings, announced plans to move its entire production in Saudi Arabia to its new plant in Jeddah’s Second Industrial City as part of a strategy aimed at meeting the needs of its Saudi customers. Inaugurated two years ago, the factory in Jeddah is Hempel’s first 100% water-based production factory in the Middle East, the largest in region, and the second largest in the world.  The strategic move coincides with the centennial anniversary of the inception of Hempel Group.

Commenting on the announcement, Engineer Ahmed Abdul Aziz, Sales and Marketing Director at Hempel Paints Middle East said: ‘We, at Hempel Paints, keep up with market developments and strive to meet customer needs and requirements. We completely understand that Saudi Arabia, in line with its Vision for 2030, will witness dynamic developments across all aspects, particularly the construction sector, which is the largest in the region. Plans are underway to build 40,000 hotel rooms by 2018 in Riyadh and Jeddah and 120 hotels by 2020 in the Kingdom. According to Raden bin Sa’afaq Al Dweish, Chairman of the Housing and Urban Development Committee of the Eastern Province Chamber of Commerce Industry, around 1.5 million residential units are in demand in the market.’

Commenting on Hempel Paints’ current annual production and 2017 expansion plans, Abdul Aziz stated: ‘Built on 15,000 square metres, the factory has production lines with manufacturing capacity of 32 million litres a year. The plan is to increase the maximum capacity to around 40 million litres annually.’

As for Hempel’s market share, Abdul Aziz said: ‘The paints and coatings market has a great growth potential, with an estimated value of SAR 3 billion a year, and Hempel Paints is aiming to double its market share in the Kingdom.’

Hempel Paints’ market share is expected to grow in the next five years due to the company’s commitment to providing its customers with best quality products and services. 

Hempel decorative paints are widely used by homeowners, architects, and construction companies. Armed with over 100 years of paint expertise, the company produces a wide range of interior, exterior and floor coatings solutions.

Hempel Paints has been present in the Kingdom for more than 45 years, controlling a considerable market share and maintaining strong market positioning thanks to its technologically-advanced paints available at its showrooms located strategically in the Kingdom.

Middle East Digital Transformation on Rapid Pace

Middle East Digital Transformation on Rapid Pace

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Middle East Digital Transformation on Rapid Pace

The Middle East’s digital industry is currently enjoying continuous growth fuelled by increased enthusiasm from consumers who are ready to quickly embrace new digital offerings, thus transforming the region into a potential digital hub.

By 2025, the Middle East is estimated to have 160 million potential digital users that will largely contribute to rapid economic growth as more countries in the region with higher GDP are able to spend more on digital adoption.

Andrej Vckovski, CEO of Netcetera, a Swiss-based software company specialized in software products and custom solutions, said that the readiness of the UAE population to adopt new technology and the capacity of government leaders and organisations to spend on technology will position the Middle East into a rapid digital transformation.

A recent report published by the Global Manufacturing and Industrialisation Summit (GMIS) and conducted by PwC noted that digital transformation could generate US$16.9 billion in extra revenue each year for companies in the Middle East from 2017 to 2021, as well as a further US$17.3 billion in annual cost savings and efficiency gains.

‘The last decade saw the accelerated pace of technology in the region. The business environment and steady growth of the UAE economy were perfect for Netcetera to establish presence in the region and it has been a very good business decision. After an initial phase driven mainly by technology, with our clear industry focus we have established a strong position also in the vertical markets. Today, our strong industry-knowledge is combined with our ability to successfully master technical challenges in the digital age,’ added Vckovski. 

Netcetera was established in Switzerland in 1996 and expanded into the Middle East in 2006 after seeing the high level of digitization in the region. As expert for payment security and convenience, future mobility and digitalization, the company’s solid base of customers include the banking, healthcare, transport, media, insurance and the energy industry.

The company excels at providing custom solutions for large-scale projects. The team oversees the entire life cycle of a company’s IT system: from strategy to software development and operation. ‘Inquisitiveness and curiosity that go far beyond the IT department are hallmarks of our employees. This makes it easy for them to be up to date, genuinely understand clients’ needs and efficiently translate them into forward-looking, useful applications,’ said Vckovski. 

‘Through thorough planning, we ensure that the solution is perfectly suited to the business environment and forms a solid foundation for future needs. Further, we take on project risks via fix price models or agree on individual financing models together with our customers. We offer cost flexibility also with our established nearshore development model,’ explained Vckovski.

A pioneer in digital transformation, Netcetera’s unique mix of Swiss engineering quality and knowledge of the local market contributed to the success of the company which is now planning to expand in other region. ‘The experience Netcetera gained in the Middle East helped us grow in the other regions and advance the company in a way that would not have been possible without it. We are proud that we gained the trust of our customers and established ourselves as relevant partners in the respective markets.’

Netcetera is proud to offer a wide range of digital solutions, for example the timetable planning software for SBB, the first mobile payment app, the trouble management system ESISplus for ewz, the live voting tool DirectPoll, or the e-wallet Tellwa. Visit Netcetera’s website at netcetera.com to learn about its products and services.

Turkish Airlines Wins New Award in Advertising

Turkish Airlines Wins New Award in Advertising

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Turkish Airlines Wins New Award in Advertising

Turkish Airlines, ‘Europe’s Best Airline’ for six consecutive years, has won the respected gold prize in Epica Awards for the ‘Batman v. Superman’ advertising campaign.

In the blockbuster ‘Batman v Superman: Dawn of Justice’, the airline made a cameo with its Boeing 777 type aircraft. The idea was to claim that Turkish Airlines was flying to the movie’s imaginary cities of Gotham City and Metropolis. Outside the on-screen reality, Turkish Airlines was committed to the unveiling of innovative movie-themed experiences that gave fans around the world the possibility to look into the world of the iconic superheroes, including the possibility for travelers to ‘book’ flights to the airline’s two ‘new’ additions to its route network.

Turkish Airlines was awarded under the Product & Brand Integration category which awards ‘operations promoting branded products or services via appearances in pre-existing films, television shows or other media, enabling brands to gain or reinforce status from the context in which they are placed’. Making Turkish Airlines the first real world airline in a superhero universe, the campaign resulted in 125 million earned media impressions while ads on YouTube reached a view count of over 30 million.

Mr. Ahmet Olmu?tur, Turkish Airlines’ Chief Marketing Officer said ‘We are proud of this prize that shows Turkish Airlines’ commitment in always offering new delightful and unexpected experiences to its passengers and followers worldwide.’

Epica Awards, which was established in 1987, is considered to be unique in the crowded awards sector as it is the only prize judged by journalists working for marketing and communications titles.

Technoform Backs Environmental Laws in the UAE

Technoform Backs Environmental Laws in the UAE

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Technoform Backs Environmental Laws in the UAE

Technoform, the world-leading German manufacturer of insulation for aluminum windows, doors, and facades, announced that it is updating its thermal insulation products, ensuring a higher quality in profiles of aluminum windows, doors and facades.

‘Technoform has offered numerous innovations that back environmental laws and sustainability that meet UAE Vision 2021. It also strives to increase the use of aluminum insulation profiles through cutting-edge technologies’, said Alex Dantziguian, General Manager of Technoform in the Middle East, Africa and India.

Alex Dantziguian noted that the UAE Vision 2021 is based on backing sustainability by providing power more efficiently, which reduces corporations’ annual financial losses caused by the lack of thermal insulation. 

Dantziguian adds that the corporations’ inability to control the changes between indoor and outdoor temperatures increases financial burdens on the businesses. This is why Technoform has worked for 45 years to update aluminum insulating technologies, and has managed to innovate products that go into the production of aluminum profiles, in order to ensure greener and more efficient products.

Dantziguian suggests that the need to protect houses, buildings, residential and commercial towers from noise and to thermally insulate them is gradually disappearing with the innovation of products that can be used in all aluminum systems to allow them to cope with natural changes and different climates, and to resist any environmental effect that might limit the efficiency of the most important component in today’s structures, namely aluminum windows, doors and facades. 

Dantziguian revealed that the German company, Technoform dominates the market responsible for the most efficient thermal insulation material used in modern aluminum systems, thanks to the company’s scientific improvement in the manufacturing of these products.

He went on to say that Technoform had recently achieved its goal which consisted in meeting 62% of the worldwide demand on thermal insulation parts used in aluminum systems through its 11 state-of-the-art factories that offer their services to the company’s 15 branches around the world.

Technoform has also concluded its participation in the Dubai Windows, Doors & Facades Event successfully. It gave visitors and experts a closer look at the products it provides and shed a light on its vast experience in this field as well as the projected progress in thermal insulating products due to the sustainability systems spearheaded by the UAE in the region.

Kuwait Eyes Taxing Expatriates' Remittances

Kuwait Eyes Taxing Expatriates’ Remittances, Privatizing Hospitals, Schools

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Kuwait Eyes Taxing Expatriates’ Remittances, Privatizing Hospitals, Schools

The government is planning to impose taxes on expats’ remittances and companies, and privatize healthcare and education.

According to informed government sources, a special ministerial committee has already prepared a package of economic and financial reform legislations to be presented by the new Cabinet and referred to the new parliament in mid-December.

The sources explained that the government aims to start executing its economic reform plan early and that it expects fierce confrontation in this regard with the new parliament. But it insists on pushing ahead with economic reform as the most important topic on the government’s agenda, along with security and the GCC security pact.

The sources stressed that the government believes that privatizing education and healthcare is a must, while the opposition considers this as unconstitutional. The sources also emphasized that the health sector’s privatization is inevitable and that hospital management would be offered to international specialized companies, starting with Jaber Hospital. The sources added that school privatization would experimentally start with one school per educational area. 

Moreover, the sources said the government will also propose cancelling the current form of subsidies and direct them only to those with limited income. ‘The agenda also includes imposing a 10 percent tax on companies and a 5 percent tax on expats’ money transfers,’ the sources concluded.

Separately, the administrative court yesterday rejected a petition claiming that the formation of the election committee was illegal and urged the court to abolish it. The petition was filed by lawyer Hani Hussein and former MP Abdulhameed Dashti, both of whom were disqualified by the election committee along with 45 other candidates. The ruling means that the committee, formed by the interior minister of judges, is legal and its decisions of barring and accepting election candidates are in line with the law. 

Hussein however said that this ruling is not the ‘big surprise’ verdict that could delay the Assembly elections. Hussein reiterated on his Twitter account that yesterday’s ruling is not related with the other case that will be heard on Sunday, but he declined to reveal the nature of that case. The election committee’s decisions to bar Hussein and Dashti have been upheld by the administrative and appeals courts and are widely expected to be supported by the court of cassation, whose rulings are final. Dashti’s registration had been rejected by another court because he failed to submit his nomination papers in person because he has been outside the country for the past several months claiming he was undergoing medical treatment.

In another development, leading opposition figures contesting the election yesterday urged voters not to vote to any member of the dissolved Assembly, because they completely surrendered to the government against the interests of the Kuwaiti people. ‘We hope that the reformist MPs will be the majority in the next Assembly’ The Kuwaiti people will emerge victorious in the election,’ former Islamist opposition MP Bader Al-Dahoum said at the election rally of Islamist candidate and former MP Jamaan Al-Harbash.

Speaking at the same rally, former opposition MP Shuaib Al-Muwaizri said the country is facing a very dangerous period. ‘It is a choice between living in a state of masters and slaves or in the state of the rule of law,’ Muwaizri said. Harbash said Nov 26 is a day of rage against what the government and former Assembly members did against the opposition. ‘We are in a bottleneck. I tell them the response is coming and the Kuwaiti people will send you a clear message,’ he said.

‘The former ‘bogus’ MPs will fail. We will change the face of the Assembly and will reclaim the Assembly chamber,’ Harbash vowed amid wild applause from the huge crowd. The former lawmaker did not rule out the possibility of the new Assembly getting dissolved, but he insisted this will not change the opposition’s resolve. He said that since 2006, it has been one election after another.

‘They want you to get frustrated from the election process, but we will not be,’ he said. ‘Today, we are fighting against the funds they are pumping (in the election). Do not vote for any member of the previous Assembly. We have accepted the challenge and on November 26, they will hear the response of the Kuwaiti people,’ Harbash insisted.

Both Harbash and Dahoum said they will vote for Muwaizri as the next speaker if they get elected.  Muwaizri, in addition to former MPs Abdullah Al-Roumi and Ahmad Al-Mulaifi, have said they will contest the speaker’s post against outgoing speaker Marzouq Al-Ghanem, triggering a key battle in the next Assembly.

Uncertainty Continues to Dictate Rental Rates in Abu Dhabi

Uncertainty Continues to Dictate Rental Rates in Abu Dhabi

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Uncertainty Continues to Dictate Rental Rates in Abu Dhabi

  • Asteco’s Abu Dhabi Q3 report highlights continued demand for more affordable properties and increased value for money
  • Apartment and villa rental rates drop by 6% and 3% respectively year-on-year
  • Apartment and villa sales prices fall by 1% on average quarter on quarter
  • Office rental rates 72% lower than 2008 market peak

Landlords in Abu Dhabi are coming under increasing pressure as tenants look for more affordable rental rates against a backdrop of macroeconomic uncertainty, with large units being the most affected tranche, according to the Abu Dhabi Property Review Q3 2016 report from leading real estate consultancy, Asteco.

John Stevens, Managing Director, Asteco, said: ‘The ongoing redundancies across various industry sectors and the reduction of staff housing allowances continues to negatively affect demand in Abu Dhabi with a number of tenants opting to downsize and / or move to more affordable developments.’

In the UAE capital, villa rents were down, on average, by 2% from the previous quarter. The highest drop was in Al Raha Gardens (6%) followed by Al Raha Beach Villas (4%). Demand for older villas inside Abu Dhabi City has also dampened down with premium units most affected, with an average decline of 10% since the same period last year. 

Saadiyat Beach Villas were the only exception with rates remaining stable since the beginning of the year, recording a 7% increase compared with the same period last year.

Rental rates for prime apartment projects on Saadiyat Island remained stable and close to full occupancy during Q3, while other prime and high quality apartments recorded a 1% decline compared with Q2 2016 falling by an average of 6% since Q3 2015. High end units in the Corniche saw rates drop by 9% from the same period last year. 

Stevens said: ‘The majority of vacant apartments, which were offered at reduced rates in Q2, have now been leased, especially the smaller unit types (studio, one and two bedroom). This indicates that there is demand in the market, but value for money is the most important factor. In comparison, rental rates for larger and more expensive three and four bedroom duplexes and townhouses have fallen by 10% since the last quarter, with a high percentage remaining vacant for over six months.’

The report revealed the rental gap for high-end apartments between Dubai and Abu Dhabi reduced significantly over the last quarter as Abu Dhabi recorded further declines, coming more in line with Dubai ‘ in Q1 2016 the price difference for one and two bedroom apartments between the two Emirates was typically AED 20,000 per annum and this has narrowed to AED 10,000.

In the affordable and mid-range residential segments, Abu Dhabi’s rates have reduced moderately, by AED 5,000 on average, since Q1 2016, whereas Dubai’s rates were marginally down by AED 1,000.

In terms of apartment sales, there was a nominal 1% average decline during the quarter, with projects at Al Raha Beach and Saadiyat Island, as well as Al Reef, recording sales price gains of 3% to 5% respectively compared with the same period last year.

Villa sales remained quiet with a limited number of transactions mostly for completed units. Stevens said: ‘Sales prices decreased by 1% on average, since last quarter and by over 4% since Q3 2015. Sales prices for Saadiyat Beach Villas remained stable this quarter, however, prices were up by 4% compared with last year.’

Reduced  oil prices continue to negatively affect Abu Dhabi’s economy. Office rental rates are currently at their lowest point since market peak in late 2008, with rates, on average, 72% lower. Rents in prime office buildings are now close to AED 1,600 per square metre, representing a 4% decrease over the last three months.

Stevens said: ‘Large corporate and government entities often form the main tenants of prime office space, and with uncertain economic conditions and low oil prices, demand from these organisations has weakened considerably.’

For more details, please visit www.asteco.com

Employment Concerns / Spending Cuts -  Abu Dhabi

Employment Concerns / Spending Cuts – Abu Dhabi

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Average sales prices witness nominal 1% drop;

Rents set to fluctuate further in Q4 while sales prices expected to remain stable;

Silver lining for investors as apartment yields reach 7%, villas stand at 5%

07 November 2016
Rental rates for both apartments and villas in Abu Dhabi have been directly impacted by the current macroeconomic challenges, witnessing declines of up to 3% in Q3, according to the latest research report from leading international property agency, Chestertons MENA.

Continued cost cutting and downsizing in the oil and government sectors has caused increasing economic uncertainty, job cuts and, in many cases, a drop in employment allowance, forcing residents to seek cheaper and smaller options.

Robin Teh, UAE Country Manager/Director Valuations & Advisory UAE, Chestertons MENA, said: ‘Due to the continuing instability in the job market, demand has weakened in the last few months with major demand arising from the middle and low income groups focusing largely on the affordable housing segments of the Emirate. 

‘Further drops in rents are expected, in line with the trend in neighboring Dubai.’

Al Bandar remains one of the most expensive areas to rent in the Emirate at AED185,000 for an average two-bedroom apartment, despite an AED8,000 reduction compared to Q2 2016. While at the opposite end of the scale, similar sized apartments in Al Ghadeer are commanding an average annual rent of AED72,000, down AED3,000 from the previous quarter. 

In terms of the villa market, there was an average drop of 3% across the villa communites covered in the Chestertons report.  Three bedroom apartments in Al Reef, Al Raha Gardens and Khalifa City declined by 3% while similar sized units in Saadiyat Island declined by a marginal 1%.  Five bedroom apartments had th highest drops reaching up to 5% in both Al Reef and Al Raha Gadens.  There was a marginal decline of 1% in the overall residential sales prices, with areas such as Al Ghadeer and Al Reef showing no signs of apartment price depreciation. The average sale price of apartments is AED1,330 per square foot; and AED1,080 per square foot for villas.

Meanwhile, Abu Dhabi still remains an attractive destination for investors, with gross rental yields reaching as high as 8.5% in the apartment sector; and 7% for villas.

Teh said: ‘The capital’s position as a safe haven for investors has been consistent in recent years, offering returns of 5.5% and above. This has remained true throughout 2016 with overall gross rental yields at a constant level to date within the report coverage areas. Al Ghadeer and Al Reef Downtown remain the most attractive locations for investors with yields between 8% and 9%. Villas in Al Reef and Al Raha Gardens provide the highest yields between 6% and 7%.’

The report also stated there were approximately 1,000 units delivered in Abu Dhabi during Q3 and a further 3,000 units are scheduled to enter the market by the end of 2016. Some of the major developments due for completion by 2020 include: The Square ‘ Saadiyat Island, New York University Villas, Mayan Yas Island and The Island Abu Dhabi.

However, Teh cautioned: ‘There is a slowdown in the completion rate of housing supply compared to 2015 due to the current market conditions forcing developers to delay completion dates.’

New Life into Containers Converted into Refugee Classrooms

New Life into Containers Converted into Refugee Classrooms

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Dubai Electricity and Water Authority (DEWA) and DP World, the global trade enabler, have completed the transformation of out-of-service shipping containers into classrooms for refugee camps, another successful initiative of the Carbon Ambassador Programme.

The second edition of the Dubai Carbon Programme was organised once again in collaboration with the Dubai Carbon Centre of Excellence (DCCE) and the United Nations Development Programme (UNDP). DP World provided all participating groups with six containers to convert them as part of their projects which will be displayed at the 18th Water, Energy, Technology and Environment Exhibition (WETEX 2016), which is organised by DEWA under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, and under the patronage of H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, and President of DEWA, during the period from 4 to 6 October 2016 at Dubai International Convention and Exhibition Centre.

The project was sponsored by DP World and worked on by its employees, raising awareness on environmental issues by using sustainable material in the construction of the classrooms and by employing renewable resources such as solar energy to fuel the running of air-conditioning and electronic equipment. The programme aims to promote a culture of sustainable development among fresh graduates and young employees through engaging them in green activities planned by different public and private sector organisations.

DEWA provides all the necessary capabilities for the success of the Carbon Ambassadors Programme, engaging participants in activities, training courses, and workshops on sustainability, climate change and the environment.

The eight young Emirati women from DP World who worked on the project are Alia Janahi, Maryam Al Zaabi, Saeeda Khamis, Sana Al Awadi, Thureya Al Ali, Shatha Al Falasi, Khaloud Al Jasmi and Nora Al Ali. Inspired by nature, recycling and technology, they’ve created a classroom for children who are in need of educational assistance and better learning environments. 

The unique space will give refugee children access to real-life, working sustainable technologies, while enabling them and developing their thinking toward building a sustainable future for their communities. 

‘To achieve the Green Economy for Sustainable Development initiative launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai and help enhance Dubai’s position as a global hub for trade, finance, tourism, and green economy, DEWA organises the Carbon Ambassadors Programme in collaboration with Dubai Carbon. DEWA adopts a clear strategy to develop national staff. DEWA strives to enhance the creative skills of young people and motivate them to innovate. DEWA is also committed to involve the youth in achieving sustainable development objectives. The youth of today are the leaders of tomorrow, who will play a key role in decision-making at all levels. This is the goal of the Carbon Ambassadors Programme,’ said HE Saeed Mohammed Al Tayer, MD & CEO of DEWA. 

‘Since its launch, the Carbon Ambassador Programme was supported and it achieved success. DEWA has won the Training Initiative of the Year Award from the Emirates Green Building Council, for the Carbon Ambassadors Programme. DEWA sponsors the programme to involve youth in environmental and sustainability issues. This reflects our efforts to achieve the objectives of our wise government, in adherence with the Carbon Abatement Strategy, to reduce carbon emissions by 16% by 2020,’ concluded Al Tayer.

‘Sustainability is a fundamental aspect of being a responsible business and we believe doing the right thing today is the best way to thrive in the future. That means partnering with our peers to deliver programmes that promote sustainable development for the long term. The Carbon Ambassador Programme is a shining example of that kind of partnership. It forms part of our strategy to involve Emirati youth in promoting sustainable development and to support the visionary leadership of the country in achieving the UAE Vision 2020 2021 to build a green economy in tandem with the Dubai Integrated Energy Strategy 2030. By strategically investing in issues that affect our society we are creating a legacy for future generations and their involvement is key,’ said HE Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO.

‘Our global sustainability programme, (Our World, Our Future), aims to integrate sustainability into every aspect of our business. That means investing in people, protecting our environment, ensuring the highest safety standards and taking steps towards building a vibrant, secure and resilient society. I am delighted to see our Ambassadors contributing to the welfare of the world in this way, building expertise, know-how and experience to pass on this knowledge. It is our future generations that will become the stewards of the world tomorrow and they need to be equipped with the right mindset and skills to achieve it all,’ added bin Sulayem.

‘DP World earlier supervised the first batch of Carbon Ambassadors, which consisted of 29 Emirati students who were tasked to design and implement a plan to transform four 20-foot shipping containers into self-sustaining and eco-friendly bus stops. We are pleased to renew our cooperation with DEWA to mobilise our youth in shaping the country’s economic and eco-friendly development,’said Nabil Battal, DP World Global Safety & Environment Director.

Alderley Gears for IKTVA Growth

Alderley Gears for IKTVA Growth

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Alderley is currently gearing up for IKTVA growth in the Kingdom of Saudi Arabia and are delighted to have recently secured a new facility. The new facility located at the MODON (Saudi Industrial Property Authority) 2nd Industrial City in Dammam, a total of 9025m’, will have four times the manufacturing capacity of their existing site in Dammam.

Alderley have been operating in the Kingdom for over 11 years and are predominantly recognised for top engineering and the manufacturing of metering and control systems. To date Alderley provide a range of through-life support services to the 122 liquid metering systems and 72 gas metering systems installed across the Kingdom. 

This substantial investment in new facilities demonstrates Alderley’s ongoing commitment to further strengthen local Saudi manufacturing and play their role in contributing to Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) Program. 

Matthew Way, Chief Operating Officer for Alderley plc, comments, ‘I am extremely delighted by the purchase of the new facility, which will enable Alderley to keep growing in the Kingdom. Our aim is to increase our local workforce in Dammam and focus on the things we do best ‘ project management, engineering and manufacturing of Modular Packages for the oil and gas industry.’

Matthew continues by saying, ‘Alderley’s history demonstrates the commitment to investing and manufacturing in the Kingdom, which provides a great platform to build upon. Our recent acquisition strengthens our strategic direction in support of IKTVA and Saudi Vision 2030 through increasing our supply chain capabilities and creating highly skilled and specialised working opportunities within the Kingdom’  

Alderley Dammam is part of the Alderley Group specialising in the engineering, supply, operation and through-life support services of bespoke modular packages to the oil and gas industry.

WorldRemit to Kickstart Uptake of Digital Money Transfers

WorldRemit to Kickstart Uptake of Digital Money Transfers

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Leading remittance service WorldRemit is set to accelerate adoption of digital money transfers to Cameroon, after completing a series of strategic deals with local partners.

WorldRemit’s new partnerships with MTN Mobile Money, Express Union and Banque Atlantiqueensure that people in Cameroon can choose to receive remittances in a way that suits them ‘ turbocharging Mobile Money transfers and adding nearly 700 cash pick-up locations throughout the country.

With the WorldRemit app or website, people all over the globe can now send money instantly and securely to their friends and relatives in Cameroon, to be collected in one of three ways:

Mobile Money – WorldRemit customers can send instant overseas money transfers to any MTN Mobile Money account. There are currently over 2.6 million registered MTN Mobile Money accounts in Cameroon
 

Cash pickup ‘ WorldRemit transfers can be collected at hundreds of Express Union locations throughout Cameroon or at any branch of Banque Atlantique.

Bank transfer ‘ Funds can be sent directly to any Cameroon bank account.

WorldRemit sees high growth potential in remittances to Mobile Money accounts. With only 12% of adults in Cameroon holding bank accounts, Mobile Money provides a way for people to instantly receive a remittance using just a phone.

WorldRemit sends more money transfers to Mobile Money accounts than any other provider and is currently connected to 34 Mobile Money services in 26 countries. Over half of WorldRemit’s money transfers to Africa are now received on Mobile Money accounts.

Remittances play an important role in Cameroon’s economy – Cameroon received $244m in remittances in 2015 according to the World Bank, more than double the amount in 2010.

Catherine Wines, co-founder and Executive Director at WorldRemit, comments: ‘We see the diaspora of Cameroon as leading the way in adoption of digital money transfers. Sending money through our app becomes as easy as sending an instant message ‘ no more waiting in line at expensive money transfer agents. Our partnerships with trusted brands like MTN Mobile Money, Express Union and Banque Atlantique offer unrivaled local expertise and more payout options to the benefit of consumers.

Mydala to Enter UAE Market with Launch of Dubai Website

Mydala to Enter UAE Market with Launch of Dubai Website

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mydala.com, India’s leading local services marketing platform, has announced expansion plans for the UAE market and is launching operations in Dubai.

Announcing the expansion, Anisha Singh, Founder & CEO, mydala, said, ‘Dubai with its high internet and smartphone penetration is a mature market – shoppers are very savvy when it comes to getting the most bang for their buck. More transactions are happening in the offline world and mydala is a pioneer in enabling online to offline retail for our merchants. Our goal is to help more Emiratis save money on things that they like to do! We are very excited to bring mydala to Dubai and know that Dubai will love us as much as we love Dubai!’

mydala will power deals for a range of categories like restaurants, health and beauty, activities and many more. Some of the brands that will be showcasing their deals on mydala are Cha Cha Chai, Chicking, O2 Spa, Swasthya Ayurveda, Tim Hortons, to name a few. 

In India, mydala has 50 million visitors and 5 million transacting customers monthly and enables over $46 million of retail every month. The company is also the largest mobile commerce platform in the country doing over 6 million transactions per month with 85% of these from mobile platforms.