Shaikhani Group, a Dubai-based real estate developer, is eyeing investors from Pakistan as more and more Pakistani investors buy property in the UAE.
The developer exhibited its properties in Abad-Jang Expo, a real estate exhibition held in Islamabad from Friday to Sunday last week.
The expo is the largest real estate show in Pakistan, with a visitor footfall of 30,000. The show attracts property developers, builders, town planners, contractors, interior designers and allied industries from the Middle East, including the UAE.
Mahmood Abu Baker Shaikhani, managing director of Shaikhani Group, said: “Dubai is a favorite destination for Pakistanis due to the city’s position as one of the most secure cities in the world, high standards of living, high yields on property investments and historic relations between the UAE and Pakistan. In this scenario, we see a high potential in Pakistani home buyers.”
Gardenia Residency at Jumeirah Village Circle has studios, in addition to one-, two- and three-bedroom apartments. Gardenia Residency aims to make a definitive statement of luxury coupled with Mediterranean allure. It is immaculately designed and features a lifestyle boutique, private terraces, gardens, landscaped parks, secure car parking, retail area and restaurants.
Gardenia Residency comes with an attractive 50:50 payment plan that allows property buyers to pay up to Dh399,500 ($108,769) or 50 percent in instalments till project handover with the balance payable after the handover.
“Gardenia project is the most suitable choice for end-users and small families to shift from rented homes to their own freehold homes without putting much strain on their finance — which is a major issue with fixed-income small families,” Shaikhani said.
Shaikhani Group is developing 11 projects that will deliver 2,100 residential and commercial units in Dubai Sports City, Jumeirah Village Circle and Dubai Silicon Oasis.
In February this year, Shaikhani Group announced the delivery of 135 residential units housed in Champion Tower 1 where residents are expected to move in over the coming weeks, the statement said.
Jumeirah Village Circle, located in the heart of new Dubai, is surrounded by Mohammad bin Zayed Road, Al Khail Road and Al Barsha Road. It is close to the new Al Maktoum International Airport and the Expo 2020 site, and connects well to all the neighborhoods due to the strong road networks surrounding it.

The Consulate General of India in association with Saudi Indian Business Network (SIBN) is organizing the 3rd Indian Food Festival and 1st Islamic Calligraphy Exhibition on March 30-31 and April 1 at the premises of the Consulate General of India.
Nineteen different Indian restaurants from Jeddah are participating in the festival to bring regional delicacies representing the spectrum of the culinary tradition and diversity of the Indian cuisine.
The inauguration session of the calligraphic exhibition will be held at 6:30 p.m. followed by the food festival will be inaugurated at 7:30 p.m. where various diplomats, consulate staff, SIBN members, top Saudi business men and media persons are being invited. Entry for the inauguration ceremony will be through invitation.
The main sponsor of the event is Red Sea, the electronics store by Abdul Lateef Jameel ALJ and co-sponsored by Eurostar (Haldiram/Bajaj), Air India, Al Kabeer, Luna, The Ocean Restaurant, Sea Gulls, Advisers 360 and Alpha Cargo Services Co.
The restaurants participating in the food festival are Shadab, Village, Aryas, Khaana Khazana, Indian Spices, Paradise, The Ocean, Qasr Mohra, Bawa’s Kitchen, Barns Healthy Taste, Rara Avis, Bawarchi, Dastar, Saphire, Chatkhara Chat, Kwality Snack’s Home, Misbah Snacks, Yummy Treat Snacks and Hyderabad Sweet House.
The event is open to all from 9 p.m. onward on March 30 and from 7:30 p.m. on March 31 and Apri 1. The entry is limited to families only.
SIBN officials have requested all communities to enjoy the different variety of Indian cuisine.

Teams of developers took to the show floor on the final day of CABSAT 2017 to create the best TV app during this year’s “Appathon,” sponsored by Metrological SDK.
The winning team got a chance to pitch the app to top telco operators, which offer a total reach of over 40 million households worldwide.
CABSAT is an established trade platform for digital media and satellite sectors across the Middle East, Africa and Southern Asian region.
Tiberiu Iacomi, chief probability observer at The Improbable Agency and one of the judges at the “Appathon,” said: “The winning team had a very thorough technical presentation. They won because they were able to monetise their idea and marry the technical and business part together. It is so important to have innovation opportunities like ‘Appathon.’
“Every team who took part learned something new. Even if they weren’t a winner today, they have all developed skills that will be invaluable moving forward in their careers. I will be looking out for all of the teams in the next few months to see where they end up.”
A group from the software development company Strypes in Bulgaria were crowned winners. Their app, Linda, helps individuals with all aspects of television, removing the need for a remote control.
“It means the world to us to win this award,” said Tifron Statkov. “We are delighted with the product we have built and it is great to have something complete that is really working and can benefit a lot of people. Our app is very technical and required a lot of effort over the last 48 hours and not much sleep, but it is something new that has a lot of potential. It is great that this was recognized by the jury. We are excited to see what the future holds and we hope that we can use this platform to launch the app into the market.”
The team behind Linda have won a three-month membership at one of the biggest technical hubs in Dubai, In 5. There, they will have the opportunity to work alongside like-minded tech entrepreneurs and meet potential mentors and investors in the region.
Bodgan Alexandru Zokas, CEO of Online Video Network and a judge of the “Appathon,” said: “It was great to see people from all walks of life taking part.
Some teams had come from fully fledged technical backgrounds, whereas others were just groups of friends who were passionate about an idea. The ‘Appathon” is a huge opportunity for all entrepreneurs looking to get into the tech space and provides them with free access to resources and knowledge regardless of their ability.”

Dulsco, a leading environment solutions provider in the UAE, has announced the commencement of construction work for its new 500,000-square-foot recycling facility at Dubai Industrial Park. The ceremony was held in the presence of Saud Abu Al-Shawareb, COO, Dubai Industrial Park, and other senior members from Dulsco.
Scheduled for completion in 2018, the AED25 million ($6.8 million) integrated waste management unit has been designed to provide the waste management industry in Dubai and the wider UAE with environment-friendly solutions utilizing cutting-edge technologies.
The first phase with a total area of 200,000-square-foot will include a fully automated sorting line with a capacity of five tons per hour. The first phase of the recycling plant will host a state-of-the-art fleet maintenance workshop, as well as a recycling and materials recovery plant.
Designed as a green building, the complete integrated waste management facility will ensure the efficient use of energy, water and other resources, and prioritize the reduction of waste and harm to the environment.
Speaking at the ceremony, Al-Shawareb said: “In line with Dubai Plan 2021 that supports the efficient utilization of energy resources, sustainable waste management is a non-negotiable priority if we are to maintain a high quality of life in our cities. The adoption of green solutions is therefore an imperative necessity for the manufacturing industry. In an effort to support sustainability and environmental consciousness, Dubai Industrial Park offers world-class infrastructure and allied services, to help them achieve profitable and long-term growth.”
He added: “In the GCC region, population, growth and urbanization have caused an alarming increase in the generation of waste. This calls for an urgent need to implement innovative methods to ensure the reduction and recycling of waste.”
Dulsco LLC, which currently handles all types of wastes — solid, liquid, hazardous and non-hazardous — is already playing a major role in various recycling initiatives of the Dubai Municipality and other communities in the emirate.
As part of its mandate to contribute to Dubai’s recycling targets set for 2020, Dulsco is engaged in various programs such as “My City My Environment,” which encourages the concept of source segregation of household waste.

With sleek styling, adaptability and performance, two-in-one convertible laptops are bridging the gap between work and social experiences and are set to become a top seller at GITEX Shopper Spring Edition.
Drawing an impressive line-up of retailers and brands from around the world, the retail extravaganza will again be a magnet for shoppers, technology enthusiasts and students alike who will take advantage of the 35,000 products, bundle offers and competitions, all under one roof.
The four-day retail event returns to Dubai World Trade Center through Saturday, where leading electronic retailers in the region will showcase the latest technology gadgets and products.
With 25 percent of UAE residents planning to purchase a desktop or a laptop in the next six months, brands and retailers will be out in full force at GITEX Shopper Spring, offering shoppers the latest range of laptops from Acer, Apple, Dell and Lenovo to Microsoft and HP, among others at unbeatable offers.
Today’s consumers demand more from their devices, and computing is no different. Hybrid products such as two-in-one laptops, a laptop that can serve as a tablet by flipping or removing the keyboard to give the user access to a touch screen, are ideal.
Leading UAE retailer Sharaf DG is predicting two-in-one convertible laptops to be a show highlight at the tech retail event.
Nilesh Khalkho, CEO of Sharaf DG, said: “We will have a full range of two-in-one convertible laptops from all popular brands — HP X360, Lenovo Yoga, Acer Spin and Swift Series, Asus UX and TP Series plus Dell Inspirion 3168 & 5378. There is a huge demand for two-in-one laptops in the market today as they offer a lot of flexibility, and are ideally suited for leisure and business wherever you are.”
GITEX Shopper Spring 2017 opens from 11:00 a.m. to 11:00 p.m. Tickets for GITEX Shopper are priced at AED25 ($7) and are available to buy online at gitexshopperdubai.com and Platinum List, as well as UAE Exchange outlets. Entry is free for children below the age of five.

Saudi Aramco signed a cooperative Memorandum of Understanding with the Eastern Province Council for Social Responsibility (EPCSR). Its create a deep-rooted corporate social responsibility culture in the Eastern Province.
The MoU was signed by Princess Abeer bint Faisal bin Turki, chairwoman of EPCSR board of trustees, and Nasser Al-Nafisee, vice president of corporate affairs, Saudi Aramco.
Princess Abeer said: “The signing of this Memorandum of Understanding with Saudi Aramco is a significant step toward building strategic partnerships for the benefit of the people and the community.”
She expressed her interest in further developing synergies with Saudi Aramco through a strategic cooperative framework that translates corporate social responsibility into a concept that is aligned with the real needs of the Kingdom and its people.
Princess Abeer added that Saudi Aramco’s vast experience with CSR programs will be an important element and a strategic fit with EPCSR in achieving the objectives of the Kingdom’s Vision 2030.
She also referred to the directives of Prince Saud bin Nayef, governor of the Eastern Province and honorary president of EPCSR, that EPCSR shall maintain institutional performance that preserves the rights of both people and institutions.
Al-Nafisee expressed his steadfast optimism about this positive step, noting that Saudi Aramco is continuously building and maintaining robust relations with the community through initiatives Kingdom-wide. Al-Nafisee confirmed that Saudi Aramco carries out voluntary and social activities to promote the community’s wellbeing and raise the people’s standard of living, in alignment with Vision 2030.
The company’s role as a corporate citizen is based on three pillars, namely economy, knowledge and environment, all of which are public areas that positively impact Saudi society, he said.
EPCSR and Saudi Aramco’s partnership started in January of this year to strengthen the concept of CSR in the community. This MoU aims to create a community database to be used as a reference that serves the company, EPCSR and all stakeholders of corporate social responsibility in the Eastern Province.

Bupa Arabia recently organized full medical check-ups and fitness tests for Al-Ittihad FC players in preparation for the upcoming mid-season. Bupa Arabia aims at ensuring the club’s safety, wellbeing and physical preparedness for the current season.
The step is in line with the company’s keenness to share its knowledge in sports care across the Kingdom, and falls under its strategic partnership with Ittihad FC.
Bupa Arabia emphasized on the importance of these medical check-ups to fully prepare the players.
The move helps in monitoring the players’ performances throughout the year, keeping an eye on their wellbeing and helping the team’s doctor to identify and avoid any unwanted health-related risks.
The medical check-ups included a series of test: blood, liver function, kidney function test, tissue damage test, calcium and magnesium tests, transferrin saturation (TIBC), vitamin D test, C-reactive protein test (CRP), cholesterol test, triglyceride test, in addition to ECG and heart rate.
Jose Luis Sierra Pando, head coach of Al-Ittihad FC, expressed his appreciation for Bupa Arabia’s initiative and thanked the company for its care for the players, helping them improve their physical status and performance.

The Dow Chemical Company has been recognized as one of the best places to work in the Middle East with the company’s operations in the UAE and Saudi Arabia winning the prestigious Top Employers Institute certification.
The Top Employer Institute certification is awarded following a robust assessment, validated by an auditing of the companies’ practices in a number of areas, including compensation and employee benefits, career development, working conditions and training and development. Dow’s culture, learning and development opportunities, rewards package, on-boarding program, as well as Dow’s wealth of HR policies were credited with enabling the win in the Middle East.
Jim McIlvenny, Dow’s president for the India, Middle East, Africa and Turkey (IMEAT) region, said: “At Dow, we are keen to foster a culture which allows our employees to innovate and collaborate. In our offices across the region, we develop numerous programs which nurture talent, while also ensuring the wellbeing of our employees. We are excited to be recognized as a top employer again and we will continue to invest in our commitment to offer a safe and superior work environment for our staff.”
Dow has also received this award in multiple other geographies including China, USA, Belgium, UK, Greece, Poland, Russia, Turkey, Ghana, Kenya, Nigeria and South Africa.
Since 1991, the Top Employers Institute has recognized top employers around the world using proprietary methodology to maintain certification objectivity, independence and selectivity.
The certification is awarded to organizations that achieve the highest standards of excellence as verified through the Top Employers Institute comprehensive review. The certification process includes an analysis of the human resources environment, validation of research and an external audit which benchmarks against other companies’ performances.

The Maserati Levante has been declared as the “Best Luxury SUV” at the Okaz PR Arabia National Auto Award 2016/2017 ceremony.
The awards were based on public voting conducted online under the supervision of a committee of automative experts in Saudi Arabia.
Mohammed Rafah, CEO of Fast Auto Technic (Fast), the official dealer of Maserati in the Kingdom, received the award.
Fathy Allam, general manager of Fast, said: “We are very pleased that the Maserati Levante was chosen as the ‘Best Luxury SUV’ of the year in Saudi Arabia. The Levante is Maserati’s first-ever SUV and winning this award reflects the success of Maserati’s latest model, especially in the Saudi market where it is in high demand.
“Fast Auto Technic is committed to continuing its efforts in providing the best possible sales and aftersales services to its clients, in addition to adding more accomplishments to its success record in the Saudi market,” he added.
The Levante is being manufactured at the historical Mirafiori factory in Italy, where a new state-of-the-art production line was set up exclusively for it.

The fifth edition of the Turkish Airlines World Golf Cup Amateur Series — the world’s biggest corporate amateur tournament — has touched down once again in Dubai on Tuesday. The widely-renowned Turkish Airlines World Golf Cup (TAWGC) continues to go from strength to strength.
The tournament consists of 100 Qualifying Series events, played as individual stableford competitions of full handicap allowance, across 63 countries with 100 champions winning through to qualify to the grand final in Turkey.
The finalists trimmed from a field of 8,000 players flew business class on Turkish Airlines from their qualifying destinations to Antalya and will spend an incredible week at the five-star Titanic Deluxe Belek hotel in Antalya, Turkey.
Finalists will compete over two rounds at the neighboring Titanic Golf Club, which is one of Turkey’s Golf Coast’s best courses. Past winners have progressed to play in the Pro-Am of the Turkish Airlines Open, part of the European Tour’s “Final Series.” The Financial Times, Enterprise Rent A Car, Allianz and Conte of Florence are supporting the tournament.
The TAWGC is a part of Turkish Airlines’ wide-ranging backing for golf that includes an event on the Challenge Tour — the European Tour’s second tier — and longstanding support for ladies golf, as well as the prestigious Turkish Airlines Open.
Emre Ismailoglu, general manager, Dubai and Northern Emirates, Turkish Airlines, and member of the Dubai Turkish Airlines local office, said: “We are delighted to host a Qualifying Series event for the Turkish Airlines World Golf Cup. The events are now a key part of the calendar for the region’s business community. We are looking forward to another memorable occasion and a worthy winner.
“Flying to more countries than any other airline in the world, Turkish Airlines is also committed to supporting and working with sports and international sporting organizations that bring people together from all over the world. Alongside TAWGC, Turkish Airlines lends its full support to several other international sports organizations, including Turkish Airlines Euroleague, Europe’s top club level basketball competition.”
He added: “We are always looking to transport the leading athletes of the world in comfort to try their best and compete to be champions!”

Oman Air, the national carrier of Oman, has launched its inaugural flight WY295 from Salalah to Calicut (Kozhikode), on Monday.
A cake-cutting ceremony took place at Salalah International Airport, under the aegis of Sayyid Mohammed bin Sultan bin Hamoud Al-Busaidi, minister of state and governor of Dhofar.
The event was attended by Paul Gregorowitsch, Oman Air CEO, along with other high-ranking dignitaries.
Adding to the two flights currently operating between Muscat and Calicut, Oman Air is launching this new daily direct flight between Salalah and Calicut (CCJ), Kerala. The three and a half hour flight is operated by a Boeing 737-800.
Oman Air is growing its weekly capacity to India with frequencies increasing on five of the airline’s key Indian destinations. Bombay, Delhi and Hyderabad flights increase from twice daily to three times daily. Calicut flights increase from once daily to three times daily, and Lucknow flights increase from once daily to twice daily.
Gregorowitsch said: “Oman Air is committed to supporting the economic development of the Dhofar region, which is a key market for us. We are extremely happy to announce this new direct service between Salalah and Calicut. Our valued guests who want to travel between Salalah and Calicut can now enjoy shorter flights as they don’t have to transfer at Muscat airport. We are sure that this route will be received well by the discerning guests.”
More travelers will have the opportunity to enjoy the beauty of Dhofar, which has a cool and refreshing weather, in contrast to the hot, dry climate to be found elsewhere in the region. Visitors will also be able to make the most of the region’s renowned hospitality, ancient culture and awe-inspiring landscapes.

HSBC Saudi Arabia Ltd. has launched a blood donation campaign for all company employees. This is in collaboration with the blood bank at King Faisal Specialist Hospital and Research Center (KFSHRC). The campaign was held at the HSBC Saudi Arabia headquarters in Riyadh.
The donation campaign lasted for three days in which a large number of employees contributed toward the success of the campaign, reflecting their willingness to support such causes.
The campaign is part of the company’s continuous efforts to serve the community.
It is in line with HSBC Saudi Arabia’s emphasis on the importance of corporate social responsibility, which includes supporting hospitals and blood banks in replenishing their supplies.

City Flower, a popular retail chain, has launched its “Buy More, Save More” offer. The promotion is in line with the core belief of the company, which is “to provide greatest value to their customers.”
Through this promotion, City Flower is giving its customers an opportunity to save more every time they shop at the store.
“City Flower is confident that the current promotion will be greatly received by the customers and the offers have been planned keeping the customers’ needs in mind. Customers can now benefit from exclusive deals across all departments,” City Flower management said in a statement.
Some of the offers during the promo period include:
— Save SR20 on watches: Buy one men’s watch for SR25 and three for SR55.
— Save SR19 on men’s trousers: Buy one men’s Libero & Signature Casual Trousers for SR59 and buy two for SR99.
— Save SR14 on toothpaste: Buy one Sensodyne toothpaste for SR22 and two for SR30.
These offers are applicable at all City Flower stores in Riyadh, Dammam, Buraidah, Hail, Alkhobar, Sakaka, Jubail, Hafr Al-Batin and Hofuf. Offers are valid across all departments including menswear, womenswear, kidswear, footwear, household items, stationery, utensils, plastics, home décor, fashion jewelry, home linen, personal accessories, luggage, watches, electronics, health and beauty, toys, and mobile phones and accessories.

Saudi Arabian Airlines is set to launch its first direct flight from Jeddah to the Pakistani city of Multan from Saturday, April 1. Eight weekly round-trip flights have been scheduled.
Saudi Arabian Airlines spokesman Abdulrahman Al-Taiyeb said it is part of the company’s plan to expand its international destination network based on operational and marketing studies, and on the optimal use of new airplanes which are joining the Saudi Airlines fleet regularly.
The carrier is continuously developing its international operational plan with the aim of increasing its share in the international flight sector, and achieving new records in carrying pilgrims.
The company has finalized the creation of its office at the new destination. The first flight SV800 will take off at 02:50 from Jeddah and arrive at Multan Airport 09:30 Pakistan time.
The arrival of the flight will be celebrated in Multan. Top executives from the airline’s offices in Pakistan and officials from the airport and Multan’s Civil Aviation Authority will take part in the ceremony.
The first flight to depart from Multan International Airport SV801 will take off on the same day at 11:30 and will arrive at King Abdul Aziz International Airport at 14:30 Saudi time.
Flights to Multan — the airline’s fifth direct-flight destination in Pakistan after Peshawar, Lahore, Karachi and Islamabad — will be on Monday, Wednesday, Thursday and Saturday.
Aircraft to be used are B777-300ER, which have the capacity of 30 and 383 business and economy class seats, respectively.   

Mobily Business, telecom company Mobily’s business unit, recently held an information security conference in collaboration with Arbor Networks in Dubai.
It was attended by top clients and information security officers of Arbor Networks.
Mobily Business reviewed the latest solutions and technologies to block DDoS (Distributed Denial of Service) attacks.
The conference is considered the first of its kind, bringing together well-known companies such as ARBOR Networks and Mobily Business.
It aims to prepare presentations and reports that help in developing and increasing the level of information security in both public and private sectors.
Participants in the conference discussed current opportunities, risks and challenges faced by Saudi Arabia.
Experts exchanged their points of view on a number of issues and a roadmap has been set to develop the best information security solutions that fulfil the needs and expectations of future establishments.
Majed Alotaibi, senior executive officer strategic planning and marketing at Mobily Business, said: “DDoS attacks are one of the most popular threats that obstruct work at establishments that provide electronic services to customers around the world. Establishments are usually keen to protect and secure their information. Mobily Business provides anti-DDoS services through cloud computing, where it works on securing and protecting the electronic services and information through monitoring and analyzing Internet network traffic in a way that does not obstruct electronic services to the customers.”
Mobily Business is providing several services to both the government and private sectors like the Internet service, whether mobile, via 4G network, landline or FTTH, in addition to advanced information technology services like managed and M2M services, cloud computing, and data centers.

Audi AG, a motor company specialized in luxury automobiles, won a prestigious award at the fifth edition of the Okaz PR Arabia National Auto Award 2016/2017 ceremony.
The event was held on Monday in the presence of several businessmen, senior executives of car dealerships and representatives of automotive regional offices in the Middle East.
Prince Sultan bin Bandar Al-Faisal, president of the Saudi Arabian Motor Federation, awarded Audi R8 the title of “Best Super Sport Car” based on the uniqueness of the car.
The sophisticated features of Audi R8 are complemented with its highest performance and latest technologies. The car was voted top of its class and achieved more than 284,000 ballots.
Naseem Mourani, general manager, Audi Saudi Arabia at Samaco, said: “Okaz PR Arabia National Auto Award is one of the most respected award platforms for the automotive sector in Saudi Arabia, and we are proud of our win.
“Samaco, as the official dealer of Audi cars in Saudi Arabia, offers models that suit the needs of its clients, including sports car fans and enthusiasts. Audi is committed to producing innovative and highly advanced cars that offer an exceptional driving experience.”
Audi R8 has been designed, manufactured and tested to meet the requirements of a luxury sports car.
“We are very happy with the great milestones that we continue to achieve here in Saudi Arabia,” Mourani added.

International Company for Water & Power Projects (ACWA Power), a leading developer, owner and operator of independent power generation and water desalination plants, and Arab Petroleum Investments Corporation (APICORP), a multilateral development bank established by the 10 member states of the Organization of Arab Petroleum Exporting Countries (OAPEC), has announced the signing of a sale and purchase agreement in respect of an eight percent effective stake in Shuqaiq Independent Water and Power Project (Shuqaiq IWPP) in Saudi Arabia.
Under the terms of the agreement, APICORP shall purchase a 13.33 percent equity stake in Shuqaiq International Water Company (SIWEC), thereby giving them an eight percent effective stake in Shuqaiq IWPP.
Shuqaiq IWPP is one of ACWA Power’s early greenfield developments in Saudi Arabia. Located on the western shores of Saudi Arabia, 130 km north of Jazan, the plant has a capacity to generate 850 MW of power and 212,000 cubic meters of desalinated water per day.
The project achieved financial close in 2007 and started commercial operations in 2011. It has a 20-year power and water purchase agreement with Water & Electricity Company, Saudi Arabia.
Prior to this transaction, ACWA Power had a 40 percent effective stake in the project, after having acquired a six percent effective stake in 2014 from Mitsubishi Corporation, Japan, to add to its original 34 percent effective stake in the project.
This transaction complements the Memorandum of Understanding for a co-investment initiative signed by APICORP and ACWA Power in 2014, suggesting close collaboration in various projects in the fields of power generation and water desalination across the core geographies of ACWA Power.
Raed Al-Rayes, deputy chief executive and general manager of APICORP, said: “Shuqaiq IWPP ranks among the major developments in Saudi Arabia’s water and power sector, and makes significant contributions to meeting the country’s rising demands in this field.”
He added: “We are proud to support ACWA Power in their growth plans through this transaction, which enhances and diversifies at the same time our equity portfolio by increasing exposure to the power generation sector that has stable profit rates and low risk. We look forward to working with our partners at Shuqaiq IWPP and to developing similar partnerships with companies in the same sector.”

Home appliances and consumer electronics brand Beko has opened its first fully branded Saudi showroom in Riyadh.
The company has announced plans to expand further into the country in 2017, by enlarging its product portfolio to cover all home appliances and promoting its smart, green, cutting-edge technology home solutions.
The showroom was inaugurated by executives from Arçelik, Beko’s parent company, and executives from Al Babtain Trading (ABT), Beko’s distributor in Saudi Arabia.
The consumer appliances sector has shown a growth of 20 percent over the past six years, where sales increased from SR7.7 billion in 2011 to over SR10 billion in 2016.
“There are many factors that affect the growth of this dynamic market. We are well-positioned to take advantage of these factors, today and in the future,” said Mete Kirkit, marketing manager of Arçelik.
“Women’s increased participation in the workforce has pushed households to opt for more consumer appliances, which would make their home care routines easier,” he added.
“Modern retailing has also positively contributed by providing consumers with quick, easy and sometimes more economical access to home appliances. From 2010 to 2015, the number of hypermarkets rose by 46 percent while the number of specialized appliances and electronics grew by 18 percent.”
Consumer appliances sector forecasts indicate a continued growth of 12 percent over the next four years (2018 to 2021), where sales are expected to reach SR11.9 billion by 2021.
“We are very well-positioned to address the energy-efficient market with our current range of smart, green next generation products,” said Kirkit. “The Saudi Energy-Efficiency Center (SEEC) continues to make efforts to reduce energy consumption, and we are ready today to meet this initiative.”
Beko has plans to expand further into the GCC countries in 2017 and 2018, and become one of the top three brands in the region.
“We will strive to increase our brand footprint and market share in the GCC to meet the success we are experiencing in Europe, where Beko has become the UK’s best-selling brand,” he added.

Tommy Hilfiger presented his Spring 2017 “Hilfiger Collection” and “TommyXGigi” collection at Tommyland, the ultimate West Coast fashion festival celebrating California-inspired music, art and creativity.
Every look in the “See Now, Buy Now” runway show was immediately shoppable, including the “TommyXGigi” collection designed in collaboration with model Gigi Hadid, who headlined the event.
Hadid opened the show in a look from her capsule collection. She is the global ambassador for the brand’s women’s apparel, footwear, accessories, sunglasses, watches and fragrance. The “TommyXGigi” collection celebrates her relaxed, West Coast aesthetic fused with Hilfiger’s signature East Coast heritage.
Inspired by the ultimate West Coast music and arts festival, over 3,000 guests — including 2,000 consumers and 1,000 press members, buyers, VIPs and industry influencers — were invited to enjoy an inspiring fashion experience.
During the show finale, Hilfiger and Hadid introduced eight-time Grammy award winner Fergie, who gave a show-stopping performance for the crowd of models, celebrities, press and consumers. It featured her solo hits including her new single M.I.L.F.$ and chart toppers from the Black Eyed Peas. American soul duo Lion Babe also played the Tommyland stage with a set of their chart-climbing hits.
This season, the brand introduced new channels and next generation features, leveraging digital innovation to connect with global consumers in a personalized way.
All Spring 2017 runway looks are available to purchase through the brand’s global wholesale network and retail channels, tommy.com, social media content and shoppable live stream.
The show featured top models including Bella Hadid, Joan Smalls, Sara Sampaio, Hailey Baldwin, Stella Maxwell, Tami Williams, Romee Strijd, Devon Windsor, Lineisy Montero, Maartje Verhoef, Julie Hoomans and Luping Wang.
Front row guests included Hilfiger’s wife, Dee Hilfiger, Lady Gaga, Lewis Hamilton, Sofia Richie, Kaia and Presley Gerber, Lucky Blue Smith, Nash Grier, Hadid’s mother and father, Yolanda Hadid and Mohammed Hadid, her siblings Anwar Hadid and Alana Hadid.

KPMG Al-Fozan & Partners organized a conference to discuss issues and views on financial restructuring in Saudi Arabia. Titled “Let’s meet challenges head-on,” the event took place on Monday at The Ritz Carlton Hotel in Riyadh.
“In light of the current economic environment in the Kingdom ... the anchor businesses are under pressure, yet industrialization needs to be revolutionized at a much faster pace, we need to be prepared to address issues on the go,” said Abdullah Hamad Al-Fozan, chairman of KPMG Middle East and South Asia.
“... already we are seeing a decline in deposits and an increase in NPLs and interest rates. Today, we are talking about two or three companies, a couple of sectors, however, the real issue is beyond these,” he added.
Al-Fozan said commercial intelligence, good governance, knowing one’s options well, and effective decision-making are the keys to business sustainment.
“We’ve recognized what is important for sustainment, and are therefore, pleased to host this conference as part of KPMG Saudi Arabia’s commitment to supporting the Kingdom’s Vision 2030 and the National Transformation Program (NTP). We believe that this conference will contribute a long way to facilitating effective implementation of the government’s objectives,” he added.
KPMG Saudi Arabia is seeing a continuing influx of restructuring advisory opportunities in the Kingdom, particularly in sectors such as construction, petrochemicals, retail, telecom, multi-investment family offices, industrials, hospitality, transportation, media and oilfield services.
“We are pleased that our KPMG restructuring experts from the UK are now committed to investing their time in Saudi Arabia, and providing specialist support for the development and delivery of the restructuring advisory agenda for their Saudi firm,” said Islam Al-Bayaa, head of deal advisory at KPMG, Saudi Arabia.
“Changing times demand a change in attitudes — we are no more living in a world where inefficiency does not have a cost, competition is not a challenge, markets are geographically defined, where resources are abundant and where borrowing should be influenced by names or assets, rather than its underlying economics.”