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10

Saudi Gazette, Friday, June 23, 2017

Economy

LuLu gears up for Eid

Saudi stocks set for

bumper weekly gain

Etihad to open lounges to economy class passengers for a fee

Riyadh —

Lulu Hypermarket, a

lifestyle shopping destination

and the largest retail operator

in the region, is geared up to

welcome Eid.

An exclusive promotion on

mobile phones called “Mobile

Mania” has been prepared by

a team of young and vibrant

Saudi nationals at LuLu.

“This time, ‘Mobile Mania’

is our baby. A lot of thought

and time has gone into the

development of this promo

booklet with great bargains

for our community. The look

and feel of the booklet is very

fresh and new,” said Mishari

Yami, who leads the gadgets

and accessories section in LuLu

Hypermarket.

One of the major promo-

tions running throughout

Ramadan is the LuLu “Dream

Drive” wherein customers

have the chance to win 12

Nissan Patrol SUVs and gift

vouchers worth of SR1 million

($266,631). This is in addi-

tion to up to 70 percent sale

on garments, footwear, ladies

bags, toys, household items and

home furnishing.

“This is a total household

promo targeting everyone at

home. I am excited about the

mobile offers, which have been

prepared by my young Saudi

colleague Mishari Yami and his

team, which has successfully

brought the prices to incredibly

low levels,” said Bashar Nasser

Al-Bisher, head of administra-

tion at LuLu Hypermarket,

Saudi Arabia.

— SG

JEDDAH —

The Saudi stock market rose more than

1 percent on Thursday, heading for their biggest

weekly gain in six years, after the promotion of

Prince Muhammad Bin Salman to the role of crown

prince and the prospect of inclusion in MSCI’s eq-

uity index.

The outperformance came even though crude

prices resumed their slide. With Brent futures now

down more than 10 percent in June, most oil-ex-

porting emerging markets are under pressure, while

broader emerging assets have also traded sideways

this week amid concern over slowing US inflation

and growth.

MSCI’s emerging equity index firmed 0.2

percent, after two days of losses thanks to some

recovery in Asia while most emerging currencies

firmed against the tepid dollar.

But the biggest winner of the day was Saudi

Arabia which hit 20-month highs after MSCI put

it on the watch list for index inclusion and also the

promotion of Muhammad Bin Salman to the posi-

tion of crown prince.

The index had jumped 5.5 percent on Wednes-

day. Prince Muhammad Bin Salman has spearhead-

ed the Kingdom’s reform push, including privatiz-

ing part of the state oil firm Aramco.

Jason Tuvey at Capital Economics noted an

estimated 2.4 percent weight would see $38 bil-

lion in inflows to Saudi stocks, sufficient cover

the current account gap one-and-half times over.

“There was a lot of optimism ahead of the opening

of the Saudi stock market to foreign investors in

mid-2015. Since then, however, the proportion of

stocks owned by “qualified foreign investors” has

remained limited and the (index) has fallen by 25

percent, taking their lead from oil prices.”

The oil factor kept most other Gulf markets

under pressure ahead of the weekend and weeklong

Eid holiday.

— Reuters

DUBAI —

Etihad Airways is to open up its

lounges to economy class passengers for a fee

and will start charging for chauffeur services

that had been complimentary as it joins rivals

in looking for new ways to boost revenues.

The changes, announced on Thursday,

come amid a strategy review at the Abu

Dhabi carrier as once rapidly expanding

Gulf airlines face tighter profit margins amid

overcapacity in the market and tighter corpo-

rate travel budgets.

The fee for economy passengers to ac-

cess the business class lounge at Abu Dhabi

International Airport will start from 370

dirhams ($101) and will depend on how

much time is spent in the lounge, an Etihad

spokesman said. It will also offer economy

class passengers paid access to its lounges at

other airports around the world.

The changes, effective on July 3, will

also allow business class passengers to pay

to use the first class lounges, whilst a previ-

ously complimentary chauffeur for business

and first class passengers will become a paid

for service outside of Abu Dhabi.

Etihad will also open up the service to

economy passengers.

Will Horton, senior analyst at Australian

aviation consultancy CAPA, said chauffer

services have always been a high-cost for

airlines so to start charging for them was

“not surprising.”

Passengers traveling in the three-room

suite available on Etihad’s Airbus A380s,

dubbed ‘The Residence,’ will not be

charged.

Rival Emirates said in January it would

allow economy class passengers who are

frequent flyer members to pay to access its

lounges. That followed an earlier decision

to introduce fees for advanced seat selec-

tion for economy passengers.

Other changes at Etihad include in-

troducing a bidding system for economy

passengers to pay to have up to three empty

seats next to their own, following similar

systems in place at some other airlines.

“Airlines are increasingly asking what

they have and do not sell but could,”

Horton said. “Airlines have been allowing

passengers to bid for upgrades but guar-

anteeing an empty seat next to you is still

catching on.”

— AFP

An Etihad Airways Boeing 777-3FX aircraft takes off at the Charles de

Gaulle airport in Roissy, France, in this Aug. 9, 2016 file photo.

Bader El

Houssami

appointed

COO, Nissan

Saudi Arabia

Riyadh —

Bader El Houssami has

joined Nissan Saudi Arabia as

Chief Operating Officer (COO),

effective July 1. Based in Jeddah,

Bader takes over responsibility

for Nissan’s day-to-day opera-

tional functions as the com-

pany continues to consolidate

its robust position within the

Kingdom’s fiercely competitive

automotive market.

A graduate in business stud-

ies specializing in marketing

from Beirut University College

in his native Lebanon, 48-year-

old Bader has an impressive

track record in the automotive

industry and a wealth of experi-

ence in the Kingdom itself. His

appointment comes at a time

when the Saudi market assumes

ever-greater significance for Nis-

san’s Middle East business.

“We are delighted to have

secured the services of Bader

for Nissan here in the Kingdom

of Saudi Arabia,” said Kalyana,

Sivagnanam, Nissan’s regional

vice president, marketing and

sales for the Africa, Middle East

and India region. “Bader’s CV

and track record in the industry

speak for themselves and we are

confident that he will make a sig-

nificant contribution to maintain-

ing Nissan KSA on its current

trajectory of continued sales

growth, excellent customer satis-

faction levels and a high degree

of motivation within our highly

trained workforce. His consider-

able experience of successfully

managing people, combined with

the breadth of his knowledge and

hands-on experience within the

industry made him the standout

candidate for this challenging

position.”

— SG

Bader El Houssami

Shaker Group brings cheers

and joy on faces of orphans

S

HAKER Group, in col-

laboration with the Charity

Committee for Orphans

Care “Insan,” recently organized

an Iftar party for orphans with

the aim of bringing them plea-

sure and joy in the holy month

of Ramadan. The event included

many entertaining programs,

including gift distribution that

brought cheers on the faces of

the orphans. Orphans were also

given Eid cloth vouchers.

Commenting on the event,

Jameel Al-Molhem, managing

director of the Shaker Group,

said: “We have the pleasure to

celebrate Ramadan by sharing

happiness with the orphans.

We are honored to be a part of

this noble initiative, which we

organize annually to support

the orphans who deserve the

community’s utmost level of

care. This Ramadan meeting

is considered as one of various

significant social events in-

tended as part of the partnership

between Shaker Group and the

Charity Committee for Orphans

Care “Insan,” represented by the

committee’s chairman Prince

Faisal Bin Bandar, to positively

collaborate to serve the needy

orphans. We believe in giving

back to the community whom

we serve”.

Shaker Group has been

committed to support orphans,

especially during the holy month

of Ramadan, and we strive to

empower them to pursue a sup-

portable life. This is part of the

group’s responsibilities to im-

prove communication between

community members”.

Shaker Group also organized

and sponsored a community Iftar

for the House of Elderly affiliat-

ed to the Ministry of Labor and

Social Affairs. The Iftar was part

of a series of initiatives achieved

by the Group during Ramadan to

reflect the spirit of sharing and

kindness, it moves in compli-

ance with the Kingdom’s Vision

2030, ensuring that promotion

the culture of volunteering can

generate a positive impact in the

community.

— SG

Orphan children enjoy a get-together organized by Shaker Group

recently. — Courtesy photo

Emaar unit to operate Jabal

Omar’s Makkah luxury hotel

JEDDAH —

Jabal Omar Develop-

ment Company (JODC), a leading

real estate development company

in the region, has signed up Emaar

Hospitality Group’s premium

luxury hotel brand Address Hotels

+ Resorts to manage its flagship

hospitality project in Makkah,

Saudi Arabia.

This also marks the first

expansion of Address Hotels +

Resorts to Saudi Arabia, said a

statement from the company.

The Jabal Omar Address

Makkah, scheduled to open in

2019, is located just steps away

from the Grand Mosque.

With two elegantly designed

identical towers, Jabal Omar Ad-

dress Makkah is centrally located

and forms the tallest towers within

the master development. An inter-

connecting bridge linking the two

towers serves as a visual landmark

of the project.

With a built-up area of about

two million sq m, Jabal Omar

features residences, hotels, malls,

retail amenities, prayer areas and

other support facilities.

Jabal Omar Address Makkah

will meet the growing need for

luxury accommodation in Makkah

with Address Hotels + Resorts to

manage 1,490 hotel rooms and

suites including units available for

freehold sale.

Yasser Faisal Al-Sharif, the

chief executive officer of JODC,

said: “As our single-largest devel-

opment and located in the heart of

the Makkah, Jabal Omar develop-

ment is our prestigious project that

complements our goals to promote

a robust infrastructure that sup-

ports Hajj and Umrah pilgrims.”

“We wanted to ensure that

the hotel stands out for its unique

brand identity and exceptional

service standards. Address Hotels

+ Resorts has proven expertise

in managing world-class luxury

mixed-use projects, and by choos-

ing a brand that has its roots in the

region, we are confident of deliv-

ering a hospitality choice that will

support the goals of Saudi Vision

2030 to promote religious and

cultural experiences,” he added.

Mohamed Alabbar, the chair-

man of Emaar Properties, said:

“We are honoured to mark the

expansion of Address Hotels +

Resorts, the premium luxury hotel

brand under Emaar Hospitality

Group, to Saudi Arabia with the

signing of this important manage-

ment contract with Jabal Omar

Development Company.”

“As an iconic development

situated near the Grand Mosque,

Jabal Omar Address Makkah will

appeal to visitors from across the

world by offering distinctive value

propositions including its central

location, attentive service and

extensive amenities that meet the

needs of visitors,” he added.

Olivier Harnisch, the chief

executive officer of Emaar Hospi-

tality Group, said: “Saudi Arabia

is one of our focal destinations to

expand the footprint of our hotel

brands. Jabal Omar development

stands out for its unique design

features and amenities, and will

appeal to religious visitors as well

as investors.”

The management deal

awarded by JODC underlines

the company’s confidence in the

competencies of the Address team

to meet and exceed their expecta-

tions by delivering exceptional

customer service and bespoke

amenities, he added.

— SG

Officials of the Jabal Omar Development Company and Emaar Hospitality Group pose for a photograph. —

Courtesy photo

Nespresso introduces coffees crafted especially for ice

JEDDAH —

Coffee lovers are set to chill

out with a summer on ice as Nespresso

launches two limited edition coffees that

have been specially crafted for iced cof-

fee preparation. From the aromatic and

fruity through to intense and roasted, In-

tenso on Ice and Leggero on Ice provide

perfect refreshment during the warm

summer months.

Intenso on Ice and Leggero on

Ice are the first coffees Nespresso has

crafted specifically to be enjoyed as

iced coffees. Intenso on Ice is a bold

coffee with cereal and cocoa notes and

an intense, roasted finish. If prepared as

an Intenso on Ice Macchiato, it reveals a

smooth and creamy texture with biscuit

notes. In contrast, when enjoyed as a

black iced coffee, Leggero on Ice offers

delicate fruity and lemon notes with

lingering aromatics and a full bodied,

smooth texture. If paired with milk to

create a Leggero on Ice Macchiato, it

develops toasted notes and a more milky

and sweet flavor.

To celebrate the launch of Intenso

on Ice and Leggero on Ice, Nespresso is

also offering a Limited Edition Touch

Travel Mug which is available in a matte

white finish with a contemporary blue

geometric pattern which matches the

coffee capsule design. The Touch Travel

Mug, is the must-have accessory for

those who like to enjoy their iced coffee

on the go as it keeps drinks cool (or hot).

— SG

Nespresso staff pose for a group photo. — Courtesy photo