Barclays has announced that Steve Klemme will be joining as the head of Middle East in private bank and overseas services.
With over 30-year experience in leading Middle East regional teams for global financial institutions, Klemme brings a unique depth and range of specialist expertise that will support the delivery of a high-growth strategy for private bank and overseas services across the region.
He and his teams, based in Dubai, Switzerland and London, will develop and strengthen relationships with Middle Eastern high net worth and ultra-high net worth clients through the delivery of bespoke advice and solutions and access to corporate and investment banking products and services.
Karen Frank, CEO, private bank and overseas services, Barclays, said: “This year we have completed a series of strategic appointments to deliver increased growth and returns. I’m excited to see our all new colleagues take up their seats because it shows the ambition of what we want to achieve for our clients. Klemme’s appointment significantly advances our plans to strengthen our capabilities in the Middle East.”
Francesco Grosoli, head of private bank for Europe, the Middle East and Africa, said: “Klemme’s track record in the Middle East, together with his technical expertise, will enable Barclays to originate and deliver a full range of banking, investment and credit capabilities tailored to the specific needs of our clients in the region. Klemme will focus on growing our Middle East market, by expanding and deepening our client relationships and delivering solutions from across Barclays International.”

L’azurde, the largest gold and jewelry designer, manufacturer, distributor and retailer in the Middle East, has announced its interim financial results for the three months, ending Sept. 30.
The company’s operating revenue for the third quarter of 2017 amounted to SR76.2 million, up by 3.1 percent, compared to the same quarter of last year.
The growth was mainly driven by a 17.4 percent increase in gold wholesale revenue in Saudi Arabia, and a 37 percent increase in retail revenue due to the strong performance of L’azurde mono-brand shops and the expansion of Kenaz and airports locations.
The operating expenses were in line with the same quarter of last year despite costs incurred to fund retail expansion.
Gross profit for the third quarter of 2017 amounted to SR44.9 million, in line with the same quarter of last year before IFRS adjustments. After a one off IFRS inventory valuation adjustment in the same quarter of last year, it was SR28.9 million lower.
The net income for the third quarter of 2017 amounted to SR0.5 million, an increase of SR0.7 million, compared to the same quarter of last year before IFRS inventory adjustments. After the one-off IFRS adjustments, net income was lower by SR28.2 million.
Commenting on the recent results, Sélim Chidiac, CEO of L’azurde, said: “Our strategy to invest in our brands, distribution networks and strategic relationships has enabled us to grow our revenue while keeping a tight grip on costs. The group is fully embracing the new house of brands growth strategy, with the latest initiative being the signing of the exclusive memorandum of understanding for a potential acquisition. The remainder of 2017 will see us work to concurrently develop both our wholesale and retail operations and capture new growth opportunities moving forward.”
In August, L’azurde signed an exclusive agreement with Saudi French Duty Free Operations and Management to be the exclusive supplier of gold and jewelry in the international terminals of three major airports in the Kingdom: King Khalid International Airport, King Abdul Aziz International Airport, and King Fahd International Airport.
Since it was founded in 1980, L’azurde has excelled at the art of jewelry design. Today, it is the fourth-largest gold manufacturer in the world, selling over a million pieces of jewelry per annum.

The new all-electric Renault ZOE Long Range model has arrived in the Middle East. The latest version of Renault’s 100 percent electric vehicle now boasts a record driving range of 300 km (real driving conditions) on a single charge — double the distance of the previous generation ZOE model.
Renault was the first carmaker to introduce a 100 percent electric car to the Middle East. The new model, launched this week, features Renault’s new Z.E. (zero emissions) 40 battery — a 41kWh unit delivering the longest driving range of any mass-market electric vehicle on sale today.
The ZOE is a compact 5-door city car. Its electric badge, Z.E. signature headlamps with daytime running lights and rear lights all feature subtle blue styling cues which denote its zero emissions status.
Inside, a touch-screen center console provides a hub for an array of in-car features including climate control, multi-media music and entertainment, and driving performance statistics.
The Z.E. 40 battery in the new ZOE Long Range model has been developed in partnership with LG Chem and uses cutting-edge high-energy density lithium-ion technology. The unit has been engineered to increase storage capacity without making the battery bigger or significantly heavier.
Marwan Haidamous, managing director for Renault Middle East, said: “As pioneers in electric mobility in the Middle East and the market leader for electric vehicles in Europe, we intend to continue to lead the way in developing electric vehicle solutions in the region.”
He added: “The introduction of the new ZOE long range is an important step forward for electric mobility in the Middle East. Many drivers’ main fear around electric motoring is running out of battery power. Now we can offer our customers our longest driving range yet — 300 km. The ZOE is the perfect blend of practicality, affordability and most importantly, the freedom to drive without the worry of running out of power. This new model cements our position as true pioneers of electric mobility, not only here in the Middle East, but across the world.”
Renault recently announced its “Drive The Future” strategy – a six-year plan which will see the brand introduce eight new pure-electric vehicles and 12 new electrified models by 2022.

TOUS, a leading Spanish jewelry and accessories brand, held a special preview launch of its fall/winter 2017 collection of medallions at its newest branch at the Boulevard Center in Jeddah. TOUS showcased its latest collaboration with Saudi fashion designer Heba Mojaddidi, who has been chosen as a “Friend of TOUS KSA.”
The event was attended by some of the city’s top influencers as well as VIP customers, clients and local media representatives who caught the first glimpse of the new collection.
The new luxury store takes the number of Tous stores in Saudi Arabia to 16.
The brand’s Tous Medallions fall/winter line comprises the following collections:
— Hold: Creativity and willingness to mix and match are the only requirements for flaunting TOUS medallions and using them to tell one’s own story through jewelry. The Hold collection achieves this through its necklaces, earrings and bracelets that are perfect for combining with the different pendants made by the brand.
Rubric: The collection is inspired by the technique of engraving. Engraving has always been used to personalize medallions with initials. Rubric is born from the use of this technique. In this collection, one can see the outlines of the bear as well as the initial of the brand, the letter “T.”
Camme: This includes pieces sculpted in bas-relief on a single gemstone, mounted on silver and vermeil silver.

Swatch has introduced nine new models in two case sizes for men and women. The new easy-to-wear designs feature SKIN’s double injection case with a special two-tone wave shape. Swatch said its SKIN collection brings three elements — lightness, freedom and self-expression — to the forefront of fashion.
The new designs follow the successful launch of the SKIN collection earlier this year.
In this new collection, two of the line’s most popular models introduced earlier this year now boast sassy counterparts. The SKINNOIR has given rise to SKINSUIT, whose black complements the original “big” model’s black and white color scheme. SKINSNOW, with its simple white features and silver-colored dial, is the “perfect companion” to the regular original SKINPURE. A revival of SKINTHROUGH brings back the retro elegance of the very first SKIN collection launched in 1997. Timeless stainless steel graces three models — black SKINOTTE, rosé gold SKINCHIC and gold SKINMOKA — which join the original silver SKINMESH.
According to Swatch, every SKIN watch employs a striking wave element as well as a jewel-cut crown design and sophisticated dial features. This collection is available in both regular and big sizes. The watches are meant to be worn with a nearly weightless ease, giving their wearers a sense of freedom and the inspiration to move.
The feeling of movement underlies every design detail of the collection’s #YOURMOVE concept. “Inspired by dreams, ideas and opportunities, #YOURMOVE is a story of transformation. It is a tale of freedom, exposing life’s pivotal moments when individuals allow themselves to embrace emotion, create change and dance with the unknown. With SKIN, self-expression is king — it is the power to connect with confidence and live life by one’s own rules,” the watchmaker said in a press release.

SEDCO Capital, one of the largest asset managers in Saudi Arabia, through its MENA Equities Department, has participated in the Middle East Investor Relations Association Annual Conference that was recently hosted in Dubai.
The Middle East Investor Relations Association (MEIRA), had invited SEDCO Capital to speak at a discussion panel on Saudi Vision 2030’s impact on the capital market landscape, in addition to the opportunities and challenges of a potential MSCI classification upgrade for the Saudi capital market.
Hasan Al-Jabri, CEO of SEDCO Capital, said: “It is a critical factor in valuing companies and we are looking forward for companies being open to disclose more information and meet with investors.” On the potential MSCI classification upgrade, the CEO added: “Once completed, this will attract sizable investments into the market.
This will increase competition, improve coverage of the market and most importantly transfer knowledge and experience from the international managers to the local talents.”
SEDCO Capital manages from its award-winning MENA team out of Jeddah, several public and private-placement funds as well as discretionary managed portfolios across the MENA region covering equities, income and money market asset classes.
SEDCO Capital’s dedicated MENA Liquid Assets team was established with the remit of creating innovative products to explore rewarding opportunities in money markets, equities and income products.
SEDCO Capital is a global asset manager offering investment solutions in a wide range of geographies and asset classes.
The firm currently manages assets in a diversified spectrum of investments in real estate, equities, both private and listed, and other businesses with a total AUM of about $5 billion.

The Middle East’s premier jewelry and watch exhibition, Jewellery Arabia, is set to return to the Bahrain International Exhibition and Convention Center from Nov. 21-25.
It will be held under the patronage of Prince Khalifa bin Salman Al-Khalifa, prime minister of Bahrain. The annual event will bring together over 600 exhibitors from 30 countries for a five-day gala of glitz and glamor. Spanning 21,000-square-meters of exhibition space, a huge range of finished jewelry, luxury timepieces, precious stones, objets d’art, clocks, fine writing instruments and more from around the globe will go on sale.
“Last year, we welcomed over 49,000 visitors from 43 countries. In 2017, visitors can look forward to the latest collections, creations and innovations at this trendsetting exhibition and the unique opportunity to purchase from the widest selection of jewelry and watches in the region,” said UBM AEM’s Director of Sales and Marketing, Fawzi Al-Shehabi.
Global watch and jewelry houses will be making a return appearance at the 26th edition of the exhibition, including major brand names. Many of these high-profile international exhibitors will use the event as a platform to introduce exclusive collections and limited edition pieces to the Middle East collectors’ market.
Complementing these brands will be national groups from leading jewelry export countries. They include large returning delegations of the finest retailers, designers and manufacturers from Hong Kong, India, Singapore and Thailand. Organizers said that these groups reflect the very best manufacturing capabilities, design expertise and gemological resources that their respective countries have to offer.
Joining international brands and national groups are a host of designers, retailers and manufacturers from all over the world, including a selection of Bahrain’s leading jewellers.
To assist visitors with making informed buying choices, the world’s foremost authority on gemology, the Gemmological Institute of America, (GIA) will be offering visitors complimentary seminars on gems and jewelry.
Jewellery Arabia 2017 is open free of charge to the public. The exhibition will open from 4 p.m. to 10 p.m. on Nov. 21 to 24, and from 12 p.m. to 10 p.m. on Nov. 25.

Virgin Megastore celebrated the opening of its latest megastore, located in Hayat Mall, Riyadh, with a gala event on Nov. 7.
“We are expanding our chain of Virgin Megastores in key locations to meet the needs of the Kingdom’s fast-growing population,” said Virgin Megastore CEO in Saudi Arabia, Mohammad Ramadan. “Since our core customer base is predominantly youthful we specialize in offering an innovative home entertainment shopping experience that includes both local and international taste delivered by a young Saudi and Arab sales team.”
Featuring a light show and free gifts to customers, the opening event was attended by VIPs welcomed by Ramadan. Guests included Richard Wildash, deputy head of missions at the British Embassy, Paul Hardy, acting director of the UK Department for International Trade in Saudi Arabia, and Hatim Abduljabbar, COO of Ayan Holding.
Virgin Megastores is a one-stop shop for all entertainment needs, offering a high level of customer service and a range of products including computers and accessories, electronics and multimedia, gaming, books, gadgets, gifts, music and movies, and house gadgets. There is also a counter selling tickets for events and concerts.
Virgin Megastore is a global leader in retail entertainment with over 40 stores throughout the Middle East where it caters to local cultures through events, activities and support of local artists.
Virgin Megastore is currently located in Riyadh, Jeddah and the Eastern Province, and it aims to open more megastores across the Kingdom in 2018. It was established in Saudi Arabia in 2008.

Abeer Medical Group, a leading health care provider in the Middle East, will attempt to form the world’s largest human mosaic at the International Indian School Jeddah (IISJ) — Boys Section on Tuesday, as part of its diabetes awareness campaign.
The group aims to gather 4,500 students of IISJ to form logos of the World Diabetes Day, which is marked every year on Nov. 14, Saudi Vision 2030, Abeer Medical Group and the world map.
Abeer is hoping to break the record of 4,200 community police officers in Baghdad who formed a mosaic of Iraq’s national flag in April 2015.
“This mass gathering on World Diabetes Day is another example of Abeer’s commitment to community health awareness. It is meant to attract public attention to the grievous health hazards and terminal illness caused due to diabetes. As one of the countries with the highest prevalence of diabetes in the world, Saudi Arabia should be at the forefront of this battle against diabetes,” the health care provider said in a statement.
Indian Consul General Noor Rahman Sheikh will be the chief patron for the event.
The event will also be attended by consuls general of various countries, executives from Abeer Medical Group and the faculty and management of IISJ.
Jemshith Ahmed, vice president — strategic planning, Abeer Medical Group, said: “Abeer will conduct a wide range of awareness programs on diabetes prevention across its health care facilities and various educational institutions in the region. By making the youth and student groups aware, we can save the future generations from the health disorders associated with diabetes.”
Abeer aims to organize diabetes awareness sessions for around 20,000 students in 100 educational institutions in the Kingdom. Thousands of students have already participated in Abeer’s Diabetes Awareness Survey.

Emirates is showcasing its largest static aircraft display to date at the 2017 edition of the Dubai Airshow. Emirates’ full family of aircraft consisting of the airline’s 100th A380, its latest Boeing 777-300ER with new cabin interiors, the Emirates Executive A319 aircraft, and the Cirrus SR 22 and Embraer Phenom 100 jets which will be utilized by the Emirates Flight Training Academy is on display to visitors at the event that runs from Nov. 12-16. Both Emirates B777-300ER and A380 aircraft have been emblazoned with the “Year of Zayed” decal as a tribute to the late founding father of the UAE.
Ahmed bin Saeed Al-Maktoum, chairman and chief executive, Emirates Airline and Group, said: “The Dubai Airshow is a key event in the aviation industry calendar and it is fitting that the full family of Emirates aircraft will be on display this year to highlight the breadth of onboard product enhancements and innovations across our fleet. We are particularly pleased to showcase our state-of-the-art training aircraft for the Emirates Flight Training Academy. These investments will help set new benchmarks in pilot training, and reinforce Dubai’s position as a global aviation hub.”
On the first day of the Dubai Airshow, Emirates debuted its new Boeing 777-300ER first class suite. The new first class product has been entirely redesigned, with a range of new features. In addition to the first class cabin, both business and economy class cabins also boasted a number of enhancements.
The first afternoon of the airshow also featured a unique Emirates fly past comprising a Boeing 777-300ER, an Airbus A380, as well as the UAE’s air-display team, Al-Fursan. Both Emirates aircraft flew at different altitudes followed by the Al-Fursan jets in a symmetric formation. All Emirates aircraft taking part in the fly-past also featured the special “Year of Zayed” decal on both sides of the fuselage.
The Emirates exhibition stand is open to all airshow visitors. Spread across two stories, the stand features a number of Emirates divisions including: Emirates Engineering, Emirates Flight Training Academy, Emirates SkyCargo, Emirates Aviation University, Emirates UAE Sales and Emirates Official Store.

Bentley Motors has announced that it has entered into a partnership with SAMACO, one of Saudi Arabia’s leading automotive companies, to provide sales and after-sales services across the Kingdom.
The announcement was made recently at an event at Laylaty Hall in Jeddah hosted by Stephen Reynolds, regional director, Middle East and Asia Pacific for Bentley Motors, and Mohammed Wajih Sharbatly, CEO of Al-Nahla Group.
Guests at the event were also among the first to see the new Bentley Continental GT as it made its national debut in Saudi Arabia. The Continental GT is the third generation of the iconic Grand Tourer and is now available to order across the Middle East.
The partnership between Bentley and SAMACO is active with immediate effect. Customers are able to access the team of Bentley sales and after-sales personnel, through a dedicated concierge facility. By the end of 2017, the first dedicated Bentley showroom will open its doors.
Reynolds said: “Bentley has an extremely exciting future in Saudi Arabia, which has long been one of our most important markets. Partnering with SAMACO is a natural choice, allowing us to benefit from their extensive experience to engage with new customers and offer Bentley owners the highest standard of customer service.”
With over 30 years’ experience as partner to the VW Group, including brands like Audi and Porsche, SAMACO has extensive experience of the luxury car market.
Al-Nahla Group CEO Sharbatly said: “Today is a special day for SAMACO, where it witnesses Bentley, the luxurious automotive brand, joining up with SAMACO. Please allow me to welcome Bentley delegation, headed by Stephen Reynolds, regional director, Middle East and Asia Pacific for Bentley Motors, who has joined us here today specially to share this outstanding occasion. We trust that the new relationship with Bentley will develop a long-term strategic partnership, and be in the best interest of our clients.”
Saudi Arabia, and the wider Middle East, are key markets for Bentley Motors; the Kingdom is ranked among the best-selling markets for the luxury automotive brand worldwide, and is one of the most important markets in the Middle East.

Gallery Design and Italian Ambassador to Saudi Arabia Luca Ferrari celebrated recently the opening of their collaborative exhibition “Italy in the Eyes of Arab Artists.”
The Riyadh exhibition was part of the World Italian Language Week. It featured Saudi and Arab artists such as Ali Ruzaiza, Othman Khuzaim, Yehya Bajunaid, Najlaa M. Al-Saleem, Talal Al-Zeid, Rama Maz and Abdulelah Alkhayyal.
The designers were an eclectic mix of both new and veteran talent from the Kingdom, who studied in Italy and showcased their unique perspective through art. The “East meets West” initiative has allowed Arab artists the unique experience of Italy, while staying true to their cultural values. “This sentiment is mirrored in the design ethos of Gallery Design, which aims to address the globalized taste and lifestyles in the region by providing a distinct blend of contemporary furniture, as well as adhering to international design standards,” Gallery Design said in a statement.

Careem, the largest provider of ride-hailing in Saudi Arabia, has signed an agreement with Dr. Sulaiman Al-Habib Medical Group (HMG), to provide its services for the patients and visitors of the group's hospitals and pharmacies.
The move is seen as a step that would enhance the role of the national companies in achieving the strategic objectives of medical care in Saudi Arabia, and is a first initiative in its field.
The agreement was signed in the presence of Nasser Al-Haqbani, president and CEO of Dr. Sulaiman Al-Habib Medical Group; and Abdulla Elyas, chairman and co-founder of Careem.
Patients and visitors of the group’s hospitals and pharmacies will have a discount on the trips provided by Careem, from and to hospitals and pharmacies of HMG, in all of its branches in Riyadh and Qassim. Such a service will greatly assist saving patients’ time and resolve existing transport challenges, according to a joint statement released by Careem and HMG.
Careem Chairman Elyas said the partnership will “help in extending the services of Careem to a sector that has an immense importance.”
He added: “This partnership will support in realizing our bigger objectives, especially with a leading partner such as HMG, that is classified as one of the most important medical groups in the Middle East, as it develops and operates more than 20 medical facilities across Saudi Arabia, the UAE and Bahrain. HMG is a leader in many initiatives that always aim to provide the best medical service offering to its patients.”
HMG President and CEO Al-Haqbani said their strategic vision is to drive the technological transformation and advancement of health care in order to provide the best services to their patients. He said the partnership boosts transportation services for the patients to have safe and convenient journeys to and from their hospitals and pharmacies.
This, Al-Haqabani said, has encouraged them to work on the collaboration with Careem “that is one of the most important companies in ride-hailing in Saudi Arabia.”

The 4th Saudi Star Drift Championship kicked off in the Kingdom on Nov. 10 amid fierce competition and excitement following the success of the competition in the past three years. The championship consists of four rounds being held all over the country. It is organized by Abdullah Bakhashab, Saudi motorsport developer, under the patronage of the Saudi Arabian Motor Federation (SAMF) and is sponsored by Nissan Saudi Arabia, Total Saudi Arabia and Alif Alif FM.
The first round took place on Friday at the Alkhobar Corniche, while the second round will be held on Nov. 24 in Riyadh at the Dirab Circuit. The third round will be launched in Baha in December at Al-Aqeeq on King Fahd Road whereas the last round will take place in Jeddah on Dec. 20-21 at the International Exhibition and Convention Center, Madinah Road.
Bader Al-Houssami, CEO, Nissan Saudi Arabia, said: “Nissan is proud to be a pioneer in developing motor sport championships in the region, especially in Saudi Arabia. We are committed to sponsoring this championship which has been running for the past three years and developing the talents of youth who have proved their capability and skills regionally and globally. We are more than delighted to partner with Abdullah Bakhashab. We will continue to sponsor more sports championships for youth.”
Tarek Turk, marketing director, Total Saudi Arabia, said: “Total is keen to support and sponsor such championships in line with Total Global strategy focusing on supporting youth sports. We are committed to developing all types of youth sports in the Kingdom, especially the ones that are very popular among youngsters. We participated in sponsoring the Hail Rally and noticed that the sport was very popular among youth. We want to expand our partnership in these events. We are glad to be a part of such sports which attract a wide segment of youth under the supervision of the Saudi Arabian Motor Federation.”
Bakhashab added: “I would like to thank Nissan Saudi Arabia, Total Saudi Arabia and Alif Alif FM for sponsoring this event and for their constant support for Saudi youth. These events help young Saudis to acquire more skills and experience.”

Fossil has opened its third store in the Kingdom at Red Sea Mall in Jeddah. The vintage-inspired American lifestyle brand is the sixth Fossil branch opened by Alyasra Fashion in the region in prime locations, including two malls in Saudi Arabia, two in Kuwait and one in the UAE.
The award-winning brand is known for creating trendy vintage styles that translate into timeless key pieces. The latest shopping destination boasts distinctive signature product offerings. The company said Red Sea Mall was selected to house the new store as the mall is considered one of the largest shopping destinations in Jeddah.
The store showcases the vintage fall 2017 collection, offering a range of the latest Fossil styles including watches, leather goods, chic eyewear and jewelry for men and women. Customers will also be able to enjoy the latest in smartwatch technology with Fossil’s Q watch collection. The hybrid Q collection selection for men and women is being driven by a global campaign for the rest of 2017, featuring endorsements from many celebrities including Hollywood actress Kristen Bell.
Asil Attar, chief executive officer at Alyasra Fashion, said: “We are excited to announce our latest Fossil store opening in Saudi Arabia. The opening of yet another Fossil store in the region reflects Alyasra Fashion’s ongoing commitment toward expansion and diversification. Along with the unwavering support of our partners from Fossil group, we are confident that Fossil’s potential will continue to grow in the region. Customers will love the dynamic new store.”
Anwarul Haque, general manager at Alyasra Fashion in Saudi Arabia, said: “We are thrilled to be celebrating expansion in Saudi Arabia and the region with our latest Fossil store opening in Red Sea Mall. We are proud to be part of such an exciting and key market. Our Fossil store is the latest in our commitment and mission to enable Saudi customers to feel fashionable, by providing them with the trendiest in product offerings at great value and outstanding store experiences.”

Fine Hygienic Holding (FHH) — one of the world’s leading manufacturers of hygienic paper products — has for the first time infused its tissues with a touch of real cotton.
The company is promising individuals and families across the region a level of softness and comfort never before experienced by tissue consumers.
“While many tissue manufacturers will assert that their products are ‘cotton soft,’ Fine is now the first to actually deliver on this claim. A revolutionary innovation in terms of both quality and manufacturing, Fine’s new tissues are the softest and most soothing ever made — a true comfort to red, irritated noses everywhere,” Fine said in a press release.
The launch was announced at a recent press conference held in Jeddah, attended by Hussein Al-Ghamdi, executive officer and chairman of the energy and manufacturing sector in the Saudi Quality Council Board, and the senior management of Fine Holding.
“In any industry, there are leaders and there are followers,” said Fine Hygienic Holding CEO Salim Karadsheh. “Since the very beginning, we at Fine have worked tirelessly to lead the industry in every sense — from the quality of our products to our environmental impact, and beyond. This is especially true when it comes to innovating in our products and giving consumers exactly what they want. Infusing our tissues with the softness of cotton has been a challenge we have long been working on — and now, we’ve finally achieved this major milestone. This is such a momentous achievement for FHH, and we are eager to continue looking for new ways to delight our customers.”
With cold and flu season just around the corner, individuals everywhere are bracing themselves for the inevitable: congestion, sniffles, runny noses, and the redness and irritation that accompany these symptoms. Having to deal with the pain and discomfort of rough, abrasive tissues can make this germ- and virus-filled season even more exasperating. Fine said its soft, soothing tissues can help ease their discomfort.
Fine customers across the region can find the new tissues anywhere that the company’s products are sold.

The Saudi Electricity Company (SEC) has achieved 91.5 percent nationalization of its staff due to the success of its policy of training and developing the skills of Saudis who have replaced expatriate workers in the past few years, according to Abdulrahman bin Mohammed Al-Obayed, senior vice president of human resources at SEC.
Al-Obayed said over 23,000 Saudi engineers and technicians are currently handling operation, management and maintenance of the SEC’s electric system.
“The policy of nationalization of different technical and administrative jobs is progressing at an accelerated pace in all sectors, thanks to the efficiency of young national talents and the role played by the company’s training institutes and centers. These institutes and centers seek to upgrade the skills of many national cadres annually and at the beginning of 2017 they have successfully boosted nationalization rates to a record level at generation plants and technical jobs in different specialties of the power industry in the Kingdom,” he added.
Al-Obayed attributed the high rate of nationalization to SEC’s strategy of attracting technical and administrative competencies through leaders and talent management programs. He said SEC is one of the leading companies attracting local talents in the Kingdom through its adoption of a number of financial incentives and creative programs for outstanding performers.
“We are aiming at more than nationalizing all jobs at a record level by depending on the national cadres to implement the Kingdom’s strategy of nationalizing the electric industries. These cadres are our only means of transforming the Kingdom into a promising regional center for electric industries. The government aims to provide additional electric jobs for Saudi youth in order to support the national economy and achieve self-sufficiency in equipment and materials, in addition to exporting them to the neighboring countries in line with Vision 2030 and its objectives to diversify the sources of national economy,” he added.
The SEC CEO said Saudis have been trained in international companies and factories as well as specialized institutes in the US and Europe. “We have signed agreements with China, Japan and South Korea to train the national cadres and transfer advanced technologies into the Kingdom,” he added.

The Trade Development Authority of Pakistan (TDAP) in collaboration with the commercial section of the Consulate General of Pakistan in Jeddah is participating in the ongoing Foodex Saudi 2017, Saudi Arabia’s leading international trade exhibition dedicated to the food and drink industry.
The event started on Sunday and ends on Wednesday at the Jeddah Center for Events & Forums.
The exhibition was inaugurated by Prince Abdullah bin Saud, head of the tourism and entertainment committee at the Jeddah Chamber of Commerce and Industry (JCCI).
Consul General of Pakistan Shehryar Akbar Khan said promoting bilateral trade between Pakistan and Saudi Arabia is one of the foremost responsibilities of the Pakistani consulate. He said 11 Pakistani companies are participating in the exhibition and include the country’s top exporters dealing in rice, beverages, spices, bakery and confectionaries.
He said that while Saudi Arabia is the region’s largest food producer with 74.1 percent of the total products in the GCC, it imports more than $25 billion worth of food and beverage products each year to meet its rising consumption demands.”With growing demand at an annual rate of 18.5 percent due to an expanding domestic market on account of the growing population and increasing annual pilgrimage, Saudi Arabia’s food and drink imports are likely to reach around $70 billion per annum in the next four to five years. Reliance on imports is also likely to increase as the Saudi government has decided to reduce wheat production to conserve water,” Khan said.
These developments, he said, offer a huge opportunity to Pakistani companies to further penetrate into the Saudi market and increase their market share. “Given the fact that Pakistan is an agricultural country, and more than 50 percent of its exports are agro- and textile-based, it has enormous potential to increase its exports by tapping into the halal food market of Saudi Arabia, which currently imports more that 80 percent of its total food and beverage requirements,” Khan added.
Commercial Consular Shehzad Ahmad Khan said the Pakistani consulate is extending its full cooperation to Pakistani businessmen to showcase their products in Saudi Arabia and benefit from the opportunities emerging out of the Saudi Vision 2030 to promote bilateral ties and investment.

Emirates celebrates the milestone delivery of its 100th Airbus A380 aircraft at a special ceremony with Airbus at the manufacturer’s delivery center in Hamburg.
Sheikh Ahmed bin Saeed Al-Maktoum, Emirates’ chairman and CEO officiated the ceremony. He was joined at the event by Sir Tim Clark, president Emirates Airline; Tom Enders, Airbus CEO; Dominic Horwood, Rolls-Royce, director — Customer and Services; Ali Al-Ahmed, UAE Ambassador to Germany and Frank Horch, senator for economy, transport and innovation of the city of Hamburg.
Sheikh Ahmed said: “This is a tremendous moment for Emirates, for Airbus and for our many partners involved in the A380 program. There is no doubt that the A380 has had a big positive impact on aerospace manufacturing and the broader aviation industry, supporting hundreds of thousands of jobs and stimulating innovation and new product development in many related areas such as ground handling, catering, airport facilities and cabin products, to name a few.
“Importantly, the A380 also brought the flying experience for our customers to the next level. The aircraft itself is a showpiece of engineering. It is the world’s largest commercial passenger jet but it is quiet and efficient and at Emirates we’ve utilized the onboard real estate to redefine the thinking around inflight products and experience. Our flight crew love to fly it and our customers love to fly in it.”
Horwood said: “We would like to congratulate Emirates on this momentous occasion. We are very proud to be powering their 100th Airbus A380 and look forward to building on our strong relationship in years to come.”
Powered by Rolls-Royce engines, Emirates’ 100th A380 is configured in three cabin classes, with 14 private suites in First class, 76 seats in Business and 426 seats in Economy. It also features the airline’s newly revamped Onboard Lounge. It will be on display at the upcoming Dubai Air Show and will enter service afterwards.
The Emirates A380 program creates and supports manufacturing jobs across the global aircraft manufacturing supply chain. Airbus estimates that Emirates’ A380 orders alone support 41,000 direct, indirect and induced jobs in Europe, including some 14,500 in Germany alone. These are high-skilled jobs and impact a high-value supply chain, creating a significant multiplier effect in the countries where Airbus has aircraft production facilities. The estimated Europe-wide impact of Emirates’ A380 investment amounts to €3.4 billion in GDP in 2013/14. In Germany and France the GDP impact is €1.2 billion for each country.

Over 200 local and international companies will participate in the 29th Jeddah International Trade Fair (JITF), which will be held at the Jeddah Center for Forums and Events from Nov. 20-23.
The four-day annual event will bring together a wide range of multi-sector products, clothing, fashion wear, textiles, leather goods, home décor accessories, appliances and much more.
This year, the show is dominated by international participation with national pavilions from China, Morocco, Indonesia, Egypt and individual companies from India and the UAE. The event, held in a venue spanning 2,000-square-meters, provides opportunities for Saudi companies to have agencies, distributorships, dealerships and joint venture agreements with their international counterparts.
Zahoor Siddique, vice president of Al-Harithy Company for Exhibitions (ACE), organizers of the event, said the fair offers endless opportunities for both investors and exhibitors to help enhance the ever-growing Saudi franchise market.
He said: “It offers a unique exposition for manufacturers, suppliers, buyers and users of a wide range of goods and services as well as opportunities for investment and trade promotions.”
JITF 2017 is in line with Saudi Arabia’s Vision 2030 seeking to identify all general directions, policies, goals and objectives of the Kingdom and whose aim is to grant the country a leading position in all fields. It aims to ultimately enhance the level and quality of services provided to beneficiaries to achieve a prosperous future and a sustainable development.
The fair is held concurrently with “Textiles Arabia,” the fourth textiles expo and a leading trade fair for all kinds of textiles, fabrics and materials.
JITF serves as an annual meeting point for international and regional franchisers, entrepreneurs, agents, and business owners either seeking face-to-face interaction with investors, or establishing long-term connections with potential franchisees.
The show timings are from 4 p.m. to 10 p.m.