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Category: Commerce

  • Q Holding acquires all shares of Reem Investments Company

    Q Holding acquires all shares of Reem Investments Company

    Q Holding acquires all shares of Reem Investments Company

    Abu Dhabi(Press Release)04th May 2022. Q Holding, a leading investment company in the United Arab Emirates, announced today its acquisition of Reem Investments Company in exchange for shares to be issued in Q Holding, in efforts to grow its portfolio of investment assets for a total amount of AED 5,942,067,075.

    Chairman Q Holding H.E. Abdulla Mohammed Butti Al Hamed, announced 100% acquisition of Reem Investments Company’s shares by issuing new shares in the company, whereby 17.33 of the company shares will be allocated for each share acquired from the shares of Reem Investments Company shareholders (shares exchange rate). H.E. also announced an increase in the company’s capital by issuing new shares with a maximum of 1,347,407,500 shares to the shareholders of Reem Investments Company according to the aforementioned exchange rate. Al Hamed said in his speech: “This important step comes within our tireless and serious efforts to increase our investment portfolio and develop our business performance in line with the Board of Directors strategies to invest in selected industries to meet the local and international market need. Q Holding aims to generate sustainable growth for its stakeholders and deliver the security of long-term returns while actively contributing to the economic development and supporting the global ambitions of the United Arab Emirates.”
    CEO of Q Holding Mr.Majed Fuad Mohammed Odeh, stated:that “Q Holding acquisition of Reem Investments Company is part of our strategic investment plan as we developed a carefully though-out strategic plan to support local, regional and international investment sectors by nurturing the next generation of entrepreneurs, disruptors and business leaders.”
    Odeh added: “The company is looking forward to further expand by following long-term strategic plans and approaches approved by the Board of Directors to strengthen the position of Q Holding as one of the largest and most important companies operating in the investment sector.”
    Q Holding Company is a private stock company established in 2005, and is considered one of the largest investment companies in the Emirate of Abu Dhabi.Since its establishment, the company has effectively contributed to sustainable development in the region by investing in vital sectors. Q Holding Company focuses on generating the highest returns by investing in selected sectors such as real estate, leisure and hospitality sectors.

  • M Glory set to manufacture 55,000 EV annually at DٰIC.

    M Glory set to manufacture 55,000 EV annually at DٰIC.

    M Glory set to manufacture 55,000 electric cars annually at Dubai Industrial City

    M Glory lays the foundation stone for the first electric vehicle manufacturing facility in the UAE,                                                                        worth an investment of AED1.5 billion   

    Dubai(Urdu Weekly):: M Glory Group laid the foundation stone for the United Arab Emirate’s first industrial facility to manufacture electric vehicles (EV) at Dubai Industrial City, one of the largest industrial hubs in the region, and worth an investment of AED1.5 billion.

    The factory’s official opening on 28 March was presided over by His Excellency Omar Suwaina Al Suwaidi, Undersecretary at Ministry of Industry & Advanced Technology, Dr. Magda Al-Azazi, Chairman of the Board of Directors of M Glory Holding Group,& Saud Abu Al-Shawareb,Managing Dubai Director of Industrial City.

    The sustainable industrial facility, with advanced capabilities will be the UAE’s first plant of its kind and is expected to produce 55,000 cars per year to meet a rising demand for green mobility to reduce global carbon emissions.M Glory Holding aims to benefit from the Fourth Industrial Revolution and sustainability by employing future technologies and robotics in the manufacture of EVs. The corporation’s new facility will be an extension to their portfolio, which includes robotics engineering and artificial intelligence as well as sustainable real estate.The new factory at Dubai Industrial City will create more than 1,000 jobs and is built on a total land area of 1 million sqft to accommodate future expansion plans. The electric cars will be exported to the wider GCC region, Egypt, Tanzania, Senegal, Mali and Kenya.

    Dubai Industrial City, part of TECOM Group, is one of the most prominent industrial and logistics hubs in the region with more than 280 factories and 750 business partners across several strategic sectors. It is a major contributor to achieving several national strategies including the “Operations 300 billion”. Dubai Industrial City and The Ministry of Industry and Advanced Technology (MoIAT) recently have signed a deal designed to further enhance the UAE’s industrial sector while facilitating decarbonization efforts. The Memorandum of Understanding was focused on three core elements, including enabling the UAE’s Industry 4.0 program, attracting foreign investors as part of “Make It In The Emirates” campaign, and facilitating decarbonization across the industrial sector. The partnership’s objectives are in line with the UAE’s industrial strategy, which aims to develop the nation’s industrial sector and raise its contribution to the GDP. At the event, M Glory unveiled their first fully electric car called “Al Damani” DMV300. With two different models built using European specifications, the car has a battery capacity of 52.7 kWh and can cover more than 405km on a single charge.

    Reflecting on the occasion, Managing Director of Industrial City,Saud Abu Al-Shawareb, said, “Sustainability is a global responsibility and transitioning to alternative, low emission energy sources is an integral part of achieving a greener future. The manufacturing industry can play an essential role in enabling the national net zero strategy by delivering innovative, technology-backed solutions in line with Operation 300bn and powered by our partnership with the Ministry of Industry and Advanced Technology. M Glory’s addition to our community demonstrates our commitment to boosting the manufacturing industry, as well as supportive environment that empowers local manufacturers like M Glory to set up operations and fuel the ‘Make it in the Emirates’ initiative.”

    Chairman Board of Directors of M Glory Holding GroupDr. Magda Al-Azazi, , said: “Today we are laying the foundation stone to inaugurate an Emirati industrial facility with international specifications where we will manufacture environmentally-friendly electric cars, contributing to global efforts to reduce carbon emissions and support sustainable development.”She added: “The M Glory factory for the manufacture of electric cars will be the first of its kind in the UAE worth an investment of AED1.5 billion, and it will operate through two production cycles per year. It will employ the technologies and techniques of the Fourth Industrial Revolution, including a welding line, a dyeing line and a final assembly line using the latest robots in the manufacturing processes.”She stated that the factory will produce a variety of electric cars, the types and details of which will be revealed during the coming period. She added that these cars will be competitive and durable as they are compatible with the environment and atmosphere of the Gulf region and will constitute a qualitative addition to the electric car sector.

    Dr. Al-Azazi continued: “The announcement of the new facility comes in conjunction with Expo 2020 Dubai and carries forward the momentum achieved by this international event, which has strengthened the country’s position regionally and globally. It has helped define the emirate’s ability to attract business and investments, thanks to its world-class infrastructure, security and stability, as well as legislation and laws that keep pace with the country’s advancement. This has enabled the UAE to become a global economic center, topping international economic indicators in terms of competitiveness and business environment.

    She emphasized that the industrial sector in the UAE is on the verge of a great renaissance thanks to the 50 principles announced by the national government. Such foresight has accelerated the development of the sector by boosting national industrial institutions and companies, developing their businesses and capabilities, and opening new markets for them to expand globally.

    She concluded, “I value the support and facilities provided by Dubai Industrial City to launch this first industrial facility of its kind in the Middle East, as it provides the ideal ecosystem for launching and expanding our ambitions and future expansion plans.”The UAE is gearing up sustainability efforts under the UAE Road to Net Zero Strategy. Transportation is one of the main producers of greenhouse gases globally. The shift to public and private electric transport is quickly gaining momentum with consumer spending on EVs reaching US$120 billion in 2020 according to the International Energy Agency.[1] Even local initiatives such as Roads and Transport Authority’s (RTA) goal to make public transport emission-free by 2050 demonstrating shifting mentality towards environmentally friendly transportation. Covering more than 550 million sq. ft., Dubai Industrial City is designed around a world-class masterplan that divides the massive business district into strategic sector-focused zones. It serves as a catalyst for the growth and expansion of the industrial sector in the UAE and is committed to enabling projects in renewable energy and sustainability in line with Operation 300bn and the UAE Road to Net Zero by 2050.

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  • Hitachi Energy partners with Emirates Global Motor Electric to advance sustainable mobility in Middle East and Africa

    Hitachi Energy partners with Emirates Global Motor Electric to advance sustainable mobility in Middle East and Africa

    Abu Dhabi (Press Release) Hitachi Energy, the global technology leader in power grids, and Yinlong Energy,  global battery manufacturer pushing the boundaries of the green energy revolution, today announced that it will be partnering with Emirates Global Motor Electric (EGME),  part of Al Fahim Group and the regional distributor of Yinlong energy for the Middle East and Africa, to support the electric mobility initiatives in Abu Dhabi and turn the capital into a more eco-friendly and carbon-neutral city.With this collaboration, EGME expands its role for the Middle East and Africa as the regional distributor of Yinlong’s e-mobility coupled with smart charging solutions from Hitachi Energy.

    The electric bus initiative is aligned with Abu Dhabi Government’s strategy to strengthen the electric transportation sector and helping them to achieve their climate ambitions. It will pave the way for a quieter, emission-free, full-electric mobility solutions to run on the streets of Abu Dhabi and other cities all over the region.As part of the collaboration between Hitachi Energy, Emirates Global Motor Electric and Yinlong Energy, Hitachi Energy will provide its pioneering  Grid-eMotion™ smart charging solution for public transportation and commercial vehicles to the Abu Dhabi based EGME. Grid-eMotionTM is a game changing compact electric charging solution specifically developed for the public and commercial vehicles. It is modular and scalable, and will include a digital platform to support efficient energy and fleet management.

    Hitachi Energy, Emirates Global Motor Electric and Yinlong Energy are working together to create a technology hub in the region to showcase e-mobility solutions to accelerate the evolution of the Middle East and Africa sustainable journey.

    “We are honoured to be part of this initiative as we are committed to advancing sustainable mobility. We strongly believe in the future of electricity as the backbone of the entire energy system to accelerate sustainable economic growth and to enhance circular economy,” said Dr. Mostafa AlGuezeri, Managing Director of Hitachi Energy for the UAE, Gulf, Near East and Pakistan.He added the move to green transportation is also complimentary to the larger goals set by the UAE to work towards a carbon-neutral future.“We are pleased to have Hitachi Energy as our global technology partner who can support the infrastructure needs of our customers and partners. The Grid-eMotion™ will be a part of the unique and comprehensive solutions provided to the customers in the Middle East and Africa. This smart charging system will additionally allow us to maximize our opera-tions. E-mobility is the future of transportation, and we feel privileged to be part of this journey towards a more sustainable future. This initiative also advances digital transfor-mation in the UAE’s transportation segment. A first of its kind in the region, our Yinlong batteriesy has successfully demonstrated its full readiness and performance for operations in extreme conditions thanks to two2 years of extensive testing under harsh Middle East-ern conditions. We are now preparing pleased to say that we are now ready for a full to rollout in the various sectors seeking net- zero objectives with electric mobility.”, said  Bilal AlRibi, General Manager, Al Fahim Commercial vehicles.

    “With the UAE set to host COP28 in 2023, Hitachi Energy’s commitment to mitigate climate change and integrate more renewables into the grid is more and more evident. We are well positioned to tackle the transportation industry’s biggest challenge and support the different pathways operators need to take to support the development of societies.” said Dr. AlGuezeri.Grid-eMotionTM comprises two uniquely innovative solutions – Fleet and Flash. Grid-eMotion Fleet is a grid-code compliant and space-saving grid-to-plug charging solution that can be installed in existing depots and scaled flexibly as the fleet gets greener. Grid-eMotion Flash enables operators to flash-charge buses within seconds at passenger stops and fully recharge within minutes at the route terminus, without interrupting the bus schedule. Both solutions are equipped with configurable smart charging digital platform that can be embedded with larger fleet and energy management systems. Additional offerings from Hitachi Energy for EV charging systems consist of emeshTM energy management and optimization solutions and Lumada APM, EAM and FSM solutions, to help transportation operators make informed decisions that maximize their uptime and improve efficiency. Grid-eMotion™ solutions are already operating or under development in the Middle East, Europe, Australia, China, India and Pakistan.(ENDS)

  • Arabian Gulf Investments Company acquires stakes in 3 strategic companies in Egypt

    Arabian Gulf Investments Company acquires stakes in 3 strategic companies in Egypt

    The UAE Arabian Gulf Investments Company acquires stakes in three strategic companies in Egypt.
    The acquisition is part of our plans to expand in the Egyptian and international market(Khalifa Al Muhairbi)
    Cairo:(Press Release)The Arabian Gulf Investments Company announced the acquisition of stakes in three strategic companies in Egypt.The acquisition was announced at a signing ceremony organized in Cairo in the presence of Chairman of the Board of Directors of the Arabian Gulf Investments Company Mr. Khalifa Saif Al Muhairbi, , and Chairman of the Board of Directors of Easy Cash for electronic payment Engineer Abdeen Ibrahim Arida, , Chairman of the Board of Directors of Health Technology for Advanced Technology and Public Health, and Chairman of the Board of Directors of the Egyptian Company for Embedded Systems and Industry, along with a number of dignitaries, officials and media representatives.
    The Arabian Gulf Investments Company has acquired stakes in the Egyptian Company for Embedded Systems and Industry, which are factories for strategic medical supplies, led by the production of self-destructed syringes for the first time in Egypt and Africa, and the volume of demand in Egypt only reaches 2 billion injections annually.
    A stake was acquired in EasyCash for electronic payment, which is the first company specialized in electronic portfolios licensed by the Central Bank of Egypt.
    A stake was also acquired in Health Technology for Advanced Technology and Public Health, a company that owns a factory with a global brand leading in the world of manufacturing medical supplies and has contracts in Egypt, the Gulf Cooperation Council and some African countries.
    Mr. Khalifa Saif Al Muhairbi, Chairman of the Board of Directors of the Arabian Gulf Investments Company, said on this occasion: “We are pleased to acquire stakes in important and pioneering Egyptian companies, as this step comes within the company’s strategy to expand investment in the Egyptian market in light of the encouraging investment environment provided by the Arab Republic of Egypt, where It pays great attention to industry and digital transformation, and we hope that in the coming period we will continue to strengthen our presence in a number of important investment sectors. The Arabian Gulf Investments Company will also study several investment opportunities in Egypt in the real estate, services, logistical and commercial sectors, which will be announced before the end of this year, and in the first quarter of next year. These investment expansions are part of a series of steps in expanding in the regional and global markets.Al-Muhairbi added: “We have opened a regional office for years in the Egyptian capital, Cairo, to explore investment opportunities in Egypt and the North African region.

  • we want to increase trade volume with Pakistan (Abdullah AlSaleh)

    we want to increase trade volume with Pakistan (Abdullah AlSaleh)

                                                       Wants to increase trade volume with Pakistan (Abdullah AlSaleh)
                                                         Born in Pakistan and raised in UAE (Khan Zaman Sarwar)
                           Proper marketing is essential for the identification of any product (Iftikhar Hamdani).

    Dubai (Urduweekly) :: A delegation led by UAE’s leading social and business personality, Member Chamber of Commerce and Industry and Chairman Al-Ibrahimi Group Khan Zaman Sarwar called on H.E Abdullah Al Saleh, Undersecretary of Foreign Trade and Industry, Ministry of Economy UAE . The delegation included Mr.Iftikhar Hamdani, Engineer M Javed, Mr,Sohail Khawar and Chaudhry Arshad. Khan Zaman Sarwar introduced the members of the delegation to H.E Abdullah Al-Saleh. Director Trade Promotion Department Rashid Al-Teneiji was also present in the meeting. During meeting, New Business Opportunities,  Bilateral trade volume between the UAE & Pakistan and other trade issues were discussed in detail.
    Delegation head, Khan Zaman Sarwar said that the business community of Pakistan and UAE should take full advantages of the trade opportunities available in Pakistan. Pakistan is a country rich in natural resources, agriculture, minerals and there are vast opportunities for profitable investments in technology, transportation, travel and tourism, health,I.T, food security and many other sectors. Pakistan can benefit from the valuable expertise in the field of agriculture. Khan Zaman Sarwar proposed a number of positive suggestions regarding mutual trade interests,  Mr. Abdullah Al-Saleh said that he would convey these suggestions to the competent authorities and insha’Allah we will make every effort to promote trade between the two countries in various sectors. Khan Zaman Sarwar said that if ferry service  started between Karachi to Jabal Ali Port Dubai or Khalifa Port Abu Dhabi between the two countries, immediate access to fresh fruits, vegetables and meat etc. would be possible which would enable locals and others to enjoy fresh vegetables of Pakistan without storage. Will be able to reach the dining table from the farm as soon as possible, which will also significantly reduce the prices of these food items. Because the prices of food items brought by air are high, if the UAE and Pakistan agree to start ferry service, the move will also benefit both countries economically. Leading figure in the field of travel and tourism and hotel and environment, Area Manager, Coral Beach Resort, Sharjah and Ajman Palace Hotel, Iftikhar Hamdani said that there is a need to work on real basis in the field of hotel industry and travel and tourism in Pakistan. Besides, there are many rare varieties of fruits in Pakistan, but unfortunately they have not been properly marketed. Proper marketing of any product is very important for its introduction. We should organize regular road shows for the promotion of Travel and Tourism between both countires. Mr,Sohail Khawar, an importer of Pakistani products in the UAE, said that while talking about the import of fresh fruits and vegetables from Pakistan, he said that commercial flights were closed due to the Corona epidemic. In this regard, if the concerned airlines give some concessions to the importers, the price of other seasonal fruits especially Mangoes will come down. Engineer Mohammad Javed, CEO of Ajniha Electromechanical Company, said that if the United Arab Emirates builds a Charity  hospital in Pakistan or any other country, Our company will provide free consulting, designing and technical services .
    Mr. Abdullah Al-Saleh, Undersecretary of the Ministry of Foreign Trade and Industry of the UAE, said that according to the vision of the UAE leadership and the direction of the Prime Minister & Voice President of United Arab Emirates and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum, Providing better trade facilities is a top priority for the establishment or existing setup of the WTO. At the same time, we are keen to increase trade with Pakistan like other countries and provide full support, guidance and market support to the Pakistani business community. I am ready to help you take advantage of the existing business opportunities. He said that the two countries have deep bilateral relations and the two countries have many values ​​in common which have a long history. At the end of the meeting, Mr. Abdullah Al-Saleh asked the delegation to visit whenever they want. Our doors are always open . We are always ready to cooperate at all levels

  • Al Masaood Automobiles opens new Renault Service Centre in Mussafah

    Al Masaood Automobiles opens new Renault Service Centre in Mussafah

    Al Masaood Automobiles opens new Renault Service Centre in Mussafah

     Facility includes eight service bays and parts warehouse to serve more customers 

     AbuDhabi(Press Release)

    The Renault Service Centre is the newest addition to our Al Ain and Beda Zayed branches offering the same top-notch solutions to our customers. This latest development reflects our long-term commitment to Abu Dhabi and the UAE as pivotal markets for Renault’s operations in the region. By inaugurating our latest service centre facility, we are further raising the bar higher in the industry, especially in the areas of client satisfaction and experience, both of which are at the core of our mission as an organisation.” said by Mirsad Nezirevic, General Manager – Service, Al Masaood Automobiles

    Nezirevic added,that Our professional technicians manning these modern service facilities and workshops will deliver expert vehicle services using technologically advanced automotive diagnostic tools and equipment. Their skills and abilities are continuously being enhanced to make them highly capable of operating the latest automotive technologies and systems,”

    Tony Boutet, After Sales Director Renault Middle East, said :Congratulations to Al Masaood Automobiles on yet another impressive milestone. Renault Middle East has been working closely with Al Masaood Automobiles to strengthen its presence in Abu Dhabi and bring to the local market its signature customer experience. This new consolidated sales and aftersales hub will support the robust footprint that Renault is establishing in the capital. We commend the company’s unwavering commitment to customer happiness and satisfaction and we’re  truly proud of the strong alliance we’ve had with Al Masaood Automobiles for almost two decades.”

    Al Masaood Automobiles, an icon of the UAE’s automotive market and the authorised distributor of Renault in Abu Dhabi, Al Ain and the Western Region, has announced the opening of its new Renault Service Centre in Mussafah to deliver integrated services to more customers in the city and the neighbouring Khalifa City and Mohamed Bin Zayed areas. Consolidating all Renault service centres under one roof.The centre also provides diverse value-added car and commercial van services, which include window tinting and 24/7 roadside assistance, amidst rising customer demand for such offerings in Abu Dhabi. Periodical and comprehensive maintenance service contracts are available at the new facility as well, giving customers an option to decide on the duration – between 1 year and 5 years – and the annual mileage according to their needs.

    Al Masaood Automobiles was declared the winner of the 2019 edition of the ‘Renault Global Partners Award, P.A.R.I.S. Challenge,’ the highest accolade for car dealerships, for its exceptional sales and aftersales performance. Witnessing continuous increase in sales volume, it has been tapping into new market segments to provide its signature touch of excellence in customer satisfaction.(End)

  • Al Masaood Group’s AutoCentral Inaugurates its First Multi-brand Pre-owned Cars Showroom in Dubai

    Al Masaood Group’s AutoCentral Inaugurates its First Multi-brand Pre-owned Cars Showroom in Dubai

     

    New showroom marks AutoCentral’s expansion into new business line in UAE

     700-sqm facility offers exclusive incentives & services such as extended warranty, inspection before delivery and 24-hour roadside service

     Dubai.(Press Release) AutoCentral, Al Masaood Group’s multi-brand service and repair centre, has officially inaugurated its first state-of-art-showroom for multi-brand pre-owned cars in Dubai, marking a new milestone in its expansion plans across the UAE.

    Located in a prime location at Al Quoz Industrial Area 3, the newly built 700-square-meter space will further bolster AutoCentral’s brand profile and market presence in the country through its value-added services and incentives. Customers who purchase pre-owned vehicles from AutoCentral will access the centre’s services across its branches in Abu Dhabi and Dubai. The new used cars showroom will complement AutoCentral’s service centre offerings, thereby delivering seamless customer journeys and presenting buyers with a holistic experience, from sales to aftersales, to ensure their complete satisfaction.

    At the core of the modern facility’s services is its eight promises, made to foster customer trust and confidence. AutoCentral commits to buyers of certified pre-owned (CPO) cars displayed in the showroom that they will enjoy an extended warranty of up to seven years (unlimited mileage); up to 190-point inspection and reconditioning process; and service and inspection before delivery.

    Also included in the eight promises are up to 25 per cent discount on parts; issuance of a certification of authenticity; exclusive finance and insurance offers; trade-in facilities; and 24-hour roadside assistance whilst under warranty.

    Irfan Tansel, Chief Executive Officer, Al Masaood Automotive Division, said: “AutoCentral’s new pre-owned cars showroom reflects that our customers are always at the heart of everything we do. By offering a diverse range of pre-owned cars, coupled with the facility’s advanced technologies and professional staff, AutoCentral is seeking to exceed customer expectations, enhance their experience and satisfaction level and provide exceptional services according to the highest standard of quality and excellence.”

    “Its opening also shows AutoCentral’s steady direction to establish a strong market footprint across the country. From Abu Dhabi and Dubai, new modern AutoCentral branches will soon open in other emirates to bring its high-quality services to customers wherever they are in the UAE,” Tansel added.

    Al Masaood Auto Leasing programme is available at the showroom as well. The personalised leasing solution extends to buyers either a one-year lease option that can go up to three years or a ‘lease-to-own’ offer, whichever is the most convenient and suitable to them.Open six days a week, AutoCentral, which is known for its expertise in the local automotive sector, aims to fulfil customer needs for quality pre-owned cars that have been comprehensively checked by the centre’s highly skilled technical team.

  • Al Masaood Automobiles Partners with Hella Gutmann In Technical Vocational Training Program

    Al Masaood Automobiles Partners with Hella Gutmann In Technical Vocational Training Program

    Al Masaood Automobiles Partners with Hella Gutmann In Technical Vocational Training Program

    With vocational training program, company ensures customer service excellence and satisfaction

     Abu Dhabi(Press Release) Al Masaood Automobiles, an icon of the UAE’s automotive market and the authorised distributor of Nissan, INFINITI & Renault in Abu Dhabi, Al Ain and the Western region, continues to make upskilling a top priority with its development of a vehicle diagnostic training program for its staff members in collaboration with Hella Gutmann, an industry-leading provider of diagnostic devices and parts manufacturer.

    Al Masaood Automobiles’ technicians and in-house technical trainers recently underwent and completed the vocational training program at Hella Gutmann Academy, earning them a technical diagnostic certification that confirms their enhanced skills and knowledge.

    The professional certificates were awarded to 21 employees at Al Masaood Automobiles in a special ceremony attended by senior executives from both entities. With their latest training, the technicians are now better equipped to deliver advanced and high-quality vehicle services across the company’s facilities and workshops, and operate technologically advanced automotive diagnostic tools and equipment. This further reinforces the brand profile of Al Masaood Automobiles, as well as its highly trusted reputation for customer service excellence and satisfaction.

    Mirsad Nezirevic, General Manager – Service said: “The program is designed in such a way that it will enable our technicians to perform at higher levels and achieve precise work results after finishing the training course. It is also built to make the participants flexible and adaptable to industry changes. The combined experience and knowledge obtained through this training will help our technical staff in ensuring that all required car repairs are conducted accurately from the first time, which in turn will have a positive impact on customer satisfaction.”“By choosing to partner with Hella Gutmann Academy, Al Masaood Automobiles is also strengthening its knowledge on vehicle diagnostic tools and equipment. This will allow us to tackle all challenges arising from new technologies and systems that are continuously being introduced to the local automotive industry. Ultimately, what we aim to demonstrate is that we are sparing no efforts to ensure that our facilities are manned by highly skilled automotive technicians and are equipped with advanced technologies,” Nezirevic added.

    The training complements the company’s commitment to enriched customer experience and automotive services par excellence. Backed by decades of global automotive experience, Al Masaood Automobiles sets its benchmark against the highest global standards of service.  -ends-

  • CBD& Demica win innovation award for Bank-Fintech Partnership

    CBD& Demica win innovation award for Bank-Fintech Partnership

    Commercial Bank of Dubai and Demica win innovation award for Bank-Fintech Partnership

    Dubai(Press Release): Commercial Bank of Dubai (CBD), one of the leading banks in the UAE and Demica, one of the world’s largest working capital fintechs, have won the IBSI Award for the Most Innovative Project for Bank-Fintech Partnership. This award recognizes the creativity and collaboration from both organizations to deploy a new product for the bank in the midst of a global pandemic.

    Through this partnership, CBD is able to deploy both Buyer and Seller Led Supply Chain Finance solutions through a single portal for their Wholesale Banking clients. To ensure compliance with local data regulations, the solution has been deployed using Microsoft Azure’s UAE cloud with the primary solution deployed in Dubai and secondary in Abu Dhabi.  As one of the largest banks in the UAE, CBD represents a key partner for Demica, enabling asset deployment across the large corporate and SME segments and supporting local liquidity requirements. Demica views the Middle East region as a significant growth opportunity as the asset class continues to gain traction, extending its customer base across the region, with operations in Bahrain, Saudi Arabia and the UAE.

    “We are delighted to accept this award in partnership with Commercial Bank of Dubai, said by Maurice Benisty Demica’s, Chief Commercial Officer. Commenting on this partnership, Dr. Bernd van Linder, CEO,CBD, said: “We are pleased to partner with Demica to extend our Digital Supply Chain Finance offerings for our corporate clients and are extremely happy to win the Most Innovative Project award for our Bank-Fintech Partnership with Demica at the IBSI Global Fintech Innovation Awards 2020.

  • Al Masaood Automobiles Year-End Package for New INFINITI Vehicles

    Al Masaood Automobiles Year-End Package for New INFINITI Vehicles

    Abu Dhabi(urduweekly) Al Masaood Automobiles, the authorized distributor of INFINITI in Abu Dhabi, Al Ain and the Western Region, has unveiled its ultimate year-end package for brand-new INFINITI vehicle models. Running till end of December, the latest promotion covers a complete line-up of the most luxurious as well as the most economical passenger and commercial vehicles.

    Under its latest premier end-of-the-year offerings, the company presents buyers with the best deal on INIFINITI’s new Q50, QX50, QX60 and QX80 models. The package for these cars includes comprehensive insurance coverage, up to 100,000-km service, seven years warranty unlimited mileage, seven years roadside assistance, SMART repair package, tyre and alloy protection and down payment assistance.

    Kyle Gilliam, Sales & Marketing Director, Al Masaood Automobiles, said: “This exciting year-end package forms part of our continuous efforts to provide benefit and value to our customers, ensure their happiness and deliver uncompromising customer experience.”“Since it was a tough year for all of us in which we went through a lot of challenges, we have launched the promo to provide car buyers with an incentive to end the year strong and make a fresh start for 2021. Based on their needs, they can own their dream INFINITI car and take advantage of other privileges,” Gilliam added.