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Hakim Boutahra, Fiat-Algeria Managing Director at FIA: ‘12,000 Fiat vehicles on the Algerian market from July’

Scion Industrial ENgineering pvt. Ltd.

The Algerian car market will be equipped with a large number of FIAT vehicles from July onwards, between 10,000 and 12,000 units. This was stated by the Managing Director of Stellantis Group for North Africa at a press conference at SAFEX on the side-lines of Algiers International Fair. Boutahra revealed that they would be importing until the end of the current year to supply the domestic market, saying this is part of a strategy to meet the strong demand for Italian-made cars by Algerians, who have moved to different points of sale since the project was announced.

According to the representative of Stellantis Group, all decisions were taken to meet the high demand of the local market, stating that his company continuously works to ensure the availability of vehicles and meet the demand of the market. “Our showrooms have so far registered no less than 20,000 orders in two months and, based on this figure, we have taken steps to ensure the availability of the Italian brand models that are currently marketed on the local market,” he explained, recalling that the import of new vehicles began on March 19, a highly symbolic date for the history of Algeria.

The spokesperson of Stellantis Group for North Africa noted that Fiat Algérie team has worked continuously to ensure the supply of cars to the national market and stated, with regard to the future plant in Oran, that the pace of work on the assembly unit is appreciable, which will make it possible to say that the completion deadlines “will be respected”. “The rate of progress of the work has reached 64% and the first Algerian-made “Fiat 500” car will leave the factory in December 2023, respecting the dates announced by the “Fiat” brand, followed by a second stage for the production of two other types of vehicles in the first quarter of 2024,” he assured.

Boutahra also mentioned the meeting organized in Italy, in coordination with the Algerian Embassy in Italy, where about 50 subcontractors specialized in the mechanical industry expressed their will to invest in this sector in Algeria, adding that these companies are currently studying this offer.

Source:https://algeriainvest.com/news/hakim-boutahra-dg-fiat-algerie-a-la-fia-12000-vehicules-fiat-sur-le-marche-algerien-a-partir-du-mois-de-juillet

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Global energy markets: Sonatrach CEO calls for common African vision

Sonatrach’s CEO, Toufik Hakkar, said efforts should be “intensified to consolidate Africa’s role and capacity to benefit from its natural resources, strengthen economic integration, enhance the sense of collective responsibility, and facilitate the exchange of energy expertise and technologies among its countries, which will benefit its people.”

Sonatrach Group CEO Toufik Hakkar, at the 1st Forum of Directors of Oil and Gas Training Institutions of Member States of the Organization of African Petroleum Producers (APPO), held in Skikda on Wednesday, called for a common African vision to address the challenges posed by the evolution of global energy markets.

Toufik Hakkar said it was necessary to “unify visions and share roles among African countries to meet the demands of global energy markets.”

Speaking at the opening of the Forum organized by the Algerian Petroleum Institute (IAP), Sonatrach’s CEO further stated that “the changing global context demands keeping pace with the continuous technological development in the energy sector”.

This, he added, requires “unifying visions, pooling capacities, and sharing roles, so that African countries can meet the increasing demands of global markets for quality and economic efficiency.”

The forum, organized at the Algerian Petroleum Institute in Skikda, brought together, in addition to the Secretary General of APPO, the executive members of this body and the directors of the training institutions in the field of oil and gas representing 15 member countries of this organization: Algeria, Angola, Benin, Cameroon, Chad, Congo, Côte d’Ivoire, Gabon, Niger, Nigeria, Egypt, Equatorial Guinea, Libya and South Africa.

Source:https://algeriainvest.com/news/marches-mondiaux-de-lenergie-le-pdg-de-sonatrach-plaide-pour-une-vision-africaine-commune

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National market: Economic and commercial attractiveness highlighted

Algeria has made progress in terms of attractiveness and intends to communicate more in order to enhance its attractiveness to foreign investors and develop its influence in the region.

This is the objective of the organization of the International Fair of Algiers (FIA) which brings together more than 630 participants is an exceptional showcase to promote the domestic market and attract foreign capital. Speaking the day before yesterday on the occasion of the Algerian Investment and Export Forum “Algeria Expo-Invest”, organized at the Palais des Expositions in Algiers, Ahmed Berrichi, Director of Studies in charge of the one-stop shop for major projects and foreign projects at the Algerian National Agency for the Promotion of Investment (AAPI), stressed “the importance of the advantages provided for by the new investment law, including the validity of at least 10 years, as well as the abolition of Rule 49/51, except for certain strategic sectors”.

Source:https://algeriainvest.com/news/marche-national-lattractivite-economique-et-commerciale-mise-en-avant

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Crypto exchange giant Binance launches in Bahrain

Global blockchain services giant Binance has launched binance.bh, a new platform that allows users to access Binance’s range of regulated products and services.

This includes direct top-ups and withdrawals, in local currencies, the company said in an emailed statement on Monday. All users have to do is link their bank accounts with their binance.bh account.

Bahrain’s position as the region’s fintech hub
“As part of the ongoing collaboration between banks and industry and sector leaders, The Central Bank of Bahrain (CBB) welcomes Binance’s decision to establish a regional headquarters for its Middle East operations in Bahrain. CBB aims to develop a supervisory framework that facilitates innovation and appropriate regulatory controls for encrypted asset trading service providers and their clients, based on global trends and developments in financial services,” Bahrain Central Bank governor Rasheed Al Maraj said.

Bahrain Economic Development Board chief executive Khalid Humaidan also added that Binance’s launch in the country “reaffirms” Bahrain’s position as a crypto assets, blockchain and fintech innovations leader, regionally and globally.

“Bahrainis have become steadfast early adopters of crypto assets, and it is fantastic that Binance can play a part in addressing the local population’s keen interest to be on the cutting edge of financial innovation,” Binance regional head of europe and MENA Richard Teng said.

Binance has placed its focus on compliance and security controls, and is working with regulators to ensure user protection as well as market integrity.

This commitment has “allowed the company to establish a strong foothold in the GCC and contribute to the region’s status as a fast-emerging global crypto asset hub,” the statement added.

SOurce:https://www.arabianbusiness.com/industries/banking-finance/crypto-exchange-giant-binance-launches-in-bahrain

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Investments in industrial estates increased by 2% in first half of 2021

Scion Industrial engineering

The volume of new investments in industrial estates for the first six months of 2021 increased by 2 per cent to JD73 million compared with JD71.3 million during the same period last year, the Jordan Industrial Estates Company (JIEC) said on Monday.

The JIEC, since the beginning of the year, has signed 82 contracts with 54 new companies and renewed 28 contracts in the industrial and services sectors. These investments are expected to provide 1,466 job opportunities, the Jordan News Agency, Petra, reported.

JIEC Director General Omar Juwaid said that 23 of the new investments were established in the Al Hassan Industrial Estate, 20 in the King Abdullah II Industrial Estate, 13 in the Al Muwaqar Industrial Estate, seven in the Salt Industrial Estate, seven in the Madaba Industrial Estate, three in the Mafraq Industrial Estate, two in the Tafileh Industrial Estate and one in the Al Hussein Industrial Estate.

Juwaid added that 853 companies operate in the JIEC’s industrial estates with a total investment volume of JD2.9 billion and provide nearly 57,000 jobs.

The company has recently intensified its promotional campaigns locally and abroad, predominately in e-marketing and teleconferencing, the JIEC director general noted.

The JIEC also routinely communicates with investors to highlight the benefits of investments in various industrial estates. The JIEC provides discounts on land prices and rental allowances for industrial buildings.

Source:https://www.jiec.com/en/news/153/

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Oil-rich UAE to burn waste to make power

Scion Industrial Engineering Pvt. Ltd.

With rubbish piling up in the desert, the United Arab Emirates has found a new way to get rid of its trash — incinerators that will turn it into electricity.

The UAE, one of the world’s top oil NSE -1.70 % exporters, is building the Gulf region’s first waste-to-power plants to ease its chronic trash problem and, at the same time, its reliance on gas-fuelled electricity stations.

Green groups are unconvinced. They say advanced recycling, composting and changing habits amid grossly wasteful rates of consumption would be better for the environment, warning of pollution risks from the greenhouse gas-intensive incinerators too.

But engineer Nouf Wazir, from waste management company Bee’ah, argues they are a way to make use of refuse that cannot be recycled.

“Not everyone knows that waste has value,” said Wazir, a senior engineer on the project. The Sharjah facility is expected to launch this year, burning more than 300,000 tonnes of waste per year to power up to 28,000 homes.

In the neighbouring emirate of Dubai, another plant is being developed at a cost of $1.2 billion, according to Hitachi Zosen Inova, one of the partner companies.

When it is completed in 2024, the Dubai plant will be one of the largest in the world, capable of gobbling up 1.9 million tonnes of waste per year — about 45 percent of the household waste currently produced in the emirate.

As the UAE has mushroomed from a desert outpost to a thriving business hub, waste has multiplied.

So has power use, which has soared 750 percent since 1990 according to the International Energy Agency.

Now with about 10 million people, five times the population of 30 years ago, the wealthy UAE uses more electricity and creates more waste per head than almost any other country.

Authorities put waste production at 1.8 kilos (four pounds) per person per day.

In the UAE, “people consume a lot, and they throw away a lot”, said Riad Bestani, founder of ECOsquare, a Dubai-based consultancy specialising in eco-friendly waste management.

Landfills are strewn across the country. In Dubai alone, six cover an area of about 1.6 million square meters (395 acres), according to the municipality.

In the absence of other solutions, it estimates that landfills will occupy 5.8 million square meters of the emirate by 2041, an area the size of more than 800 football pitches.

Fees for landfills are “pretty much nonexistent, so it’s quite cheap and easy to dump all materials into the desert”, said Emma Barber, director of Dubai-based DGrade, which designs clothes and accessories from recycled plastic bottles.

The UAE has set about diversifying its electricity generation, more than 90 percent of which comes from gas-powered plants.

Last year, the UAE inaugurated the Arab world’s first nuclear plant and, making use of its location in one of the world’s hottest regions, it has significant solar power resources.

In the run-up to the COP26 climate summit in Glasgow, which started on Sunday, the UAE said it was targeting carbon neutrality by 2050.

While supporters of the plants say the incinerators carry minimal pollution risks, activists say other approaches would be better for the environment.

According to Janek Vahk of Zero Waste Europe, incinerating rubbish may be “easier” than having space-consuming landfills, but it is far from green.

“The most beneficial for the climate (and) the environment would be recoverage” and composting, Vahk told AFP.

“But this is not really happening because… it’s easier to simply burn it than to separate, sort and recycle.”

The Brussels-based NGO has called for a moratorium on new waste incinerators and the phasing-out of old ones by 2040, warning the electricity they produce is greenhouse-gas intensive — even compared to fossil fuels.

Vahk argues that incineration is “more efficient” in colder Nordic countries when the heat produced is also harnessed, but not in hot deserts.

“If you only produce electricity, the greenhouse gases’ intensity of this energy is very high,” Vahk said, adding that incinerators are also “very expensive to build — and they need to have continuous input to run.”

Rami Shaar, co-founder of Washmen, a Dubai-based start-up that collects customers’ laundry and recycling at the same time, said waste-to-electricity is not “necessarily green energy”.

“It’s a bit of a solution towards not extracting more oil… but it doesn’t solve the full problem,” he said.

Source:https://economictimes.indiatimes.com/news/international/uae/oil-rich-uae-to-burn-waste-to-make-power/articleshow/87521153.cms

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Global Portable Ventilators Markets Report 2021-2026

The Global Portable Ventilators Market is estimated to be USD 770.5 Mn in 2021 and is expected to reach USD 1,080.8 Mn by 2026, growing at a CAGR of 7%.

The factors fueling the growth of the portable ventilator market are increasing incidences of breathing diseases and respiratory problems among the growing population. Additionally, the increasing smoking population is another factor for the increased demand for portable medical ventilators.

The intervention of innovative technology in the healthcare sector has improved operational conduct and has provided the patients with intensive care solutions. The market is expected to expand due to rapid development in technology. Advancement in technology has enabled these ventilators to be used anywhere and anytime by the patient without any medical set-up.

The world is currently hit by the pandemic of COVID-19. This disease leads to multiple organ failure, acute & severe respiratory disorders, pneumonia, and even death due to breathing issues in some severe cases. Hence, a surge in the number of people with Covid-19 is anticipated to boost the global demand for portable ventilators.

However, the high cost associated with portable medical ventilators is one of the major factors that are likely to hinder the growth of the portable ventilators market soon. Also, the availability of low-cost non-branded products available in the market creates a challenge for branded ventilator producers.

Some of the companies covered in this report are ResMed Inc., Medtronic Plc, Becton, Dickinson and Company, Getinge AB, Drgerwerk AG & Co, Smiths Group Plc, Hamilton Medical AG, G.E. Healthcare, Nidek Medical, Oricare Inc, Teleflex Incorporated, and others.

Source:https://www.businesswire.com/news/home/20210907005482/en

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Egypt’s economy to grow 5% in 2021-22 as rebound continues

Scion Industrial Engineering

Egypt’s economy will grow 5.0% in the fiscal year that ends in June next year, a Reuters survey predicted on Monday, unchanged from analysts’ expectations in a similar poll three months ago and slightly below the government’s target of 5.4%.

Gross domestic product (GDP) of the Arab world’s most populous country was seen growing 5.5% in the fiscal year ending on June 30, 2023, the July 5-26 poll showed.

The government has said it expected the economy grew 2.8% in the 2020/2021 fiscal year despite the huge disruption across the global economy, retaining its place as one of the few emerging markets to achieve GDP growth despite the COVID-19 pandemic.

The pandemic caused tourism to collapse in March 2020 and other parts of the economy to slow, as Egypt maintained a large trade deficit, which rose 9% to $30.6 billion in July 2020-March 2021 compared to the year prior.

Allen Sandeep of Naeem Brokerage said Egypt’s high current account deficit was partly a result of lower tourism revenues.

“The hope is that non-oil foreign direct investment picks up, local industry, local manufacturing takes over, and then you have substitution for imports,” he said.

Inflation was forecast at 6.0% in the fiscal year that ends in June, down slightly from an expectation of 6.4% three months ago. The headline price index is seen at 6.8% in the 2022/2023 fiscal year, revised up from an April projection of 6.2%.

Inflation has slowed as inventories have piled up after the market was throttled by supply chain disruptions last year due to the pandemic. Lower household consumption has also led to lower inflation.

“Now, if we see this COVID dragging on and tourism being quite weak … there will be a time when we cannot go on borrowing,” Sandeep said, adding that Egypt already pays debt investors a large premium over its central bank rates.

Source:https://www.reuters.com/world/middle-east/egypts-economy-grow-5-2021-22-rebound-continues-2021-07-26/

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LOCATION-BASED SERVICES – THE NEXT TECHNOLOGY EVOLUTION FOR LEBANON’S RETAIL INDUSTRY

Mobile devices have changed how we work and navigate daily life, which means there’s a tremendous opportunity to capitalize on the growing use of mobile apps. Location-based services mean that retailers can leverage mobile devices and Bluetooth technology to provide offers to customers and prospects, help customers and employees navigate within locations, and locate friends, assets and services.

Deploying location services, however, can present some challenges. IT may have to learn new technologies and processes, as most retailers have little to no experience implementing these types of solutions. And some solutions may require IT to purchase and manage dedicated infrastructure. The good news is that in many cases, organizations already possess the technology needed to deploy location services. Bluetooth Low Energy (BLE) is prevalent on popular iOS and Android devices, and meets the required accuracy and latency demands for multiple use cases. In addition, Wi-Fi is now pervasive in all malls and retail outlets.

Lebanon’s retail industry is a fast adopter of technology. While they have adapted to e-commerce, they’ve equally improved their brick-and-mortar experiences. But until recently, technology hasn’t kept pace with these crucial arms of the retail business. That’s changing with advances in location-based services. Regional retailers are beginning to implement location-based solutions, but need to keep in mind the following key features that address customer experience and operational needs:

Cutting-Edge Analytics

The adoption of smartphones gives retailers an opportunity to leverage their existing Wi-Fi network to extract actionable location data. In-store experiences are dramatically improved through the adoption of the most advanced location-based solutions that allow for an array of analytics. This results in better customer experiences as well as operational effectiveness.

For example, a customer would be frustrated when after joining a loyalty program, he/ she discovers a favorite product is always missing from the aisle. With analytics from your loyalty app, you can focus attention on items your best customers purchase to keep them stocked.

By providing visualizations, dwell times and other metrics, analytics can tell you whether temporary displays are attracting purchases, or are an annoying traffic impediment, so you can take appropriate action. Clearly, the faster an underperforming display gets remediated, the faster sales get made. Longer term, visualizing what works best, in which locations and at what time of year, can help you replicate successes to maximize daily and seasonal sales.

Beyond the personalization and relevance benefits, here’s yet another reason to deploy BLE-enabled location-ready infrastructure: You can rapidly take advantage of new experience innovations already in the pipeline to keep you ahead of your competition.

Personalized Navigation

Map-enabled, indoor, turn-by-turn navigation via a customer’s mobile app is swiftly becoming a competitive differentiator as customers can get easily frustrated when looking for particular retail outlet in a massive mall for example. A frustrating experience could be the ultimate deal-breaker.

Associate Location/ Find-a-Friend

More sophisticated location solutions go further by offering assistance empowerment, also known as location sharing. With this capability, customers can consult your shopping app to visually find nearby associates if they want help. Clicking an associate’s icon enables sending that individual a pre-defined text. If the associate is occupied, they can respond with an availability estimate while also suggesting the consumer continue shopping because the associate can find them.

With location-based services, all employees – including minimally-trained seasonal workers – can quickly assist customers or restock goods, minimizing two perennial productivity drains. When an associate needs help, find-a-friend works the same way for them. Reducing these types of frictions can also significantly lower employee frustration, leading to less turnover and improved brand affinity. Moving forward, location awareness will be key to other innovations, such as deploying bots for shelf scanning.

Asset Tracking

The latest location-based solutions offer specialized sensors for tracking high-value items and inventory, ranging from carts and ladders to POS devices and pallets of goods. Easy-to-use mobile apps ensure that staff can quickly configure asset tags and then locate the physical assets within an indoor location.

Here is an example of how asset tracking is helpful. When customers encounter an empty merchandise slot, they frequently consult an associate and learn the item just arrived. Then, your associate walks the length of the store, where they’re confronted with several possible pallets. Equipping pallets with an asset tracking sensor enables associates to pull up a goods list for each pallet and retrieve the wanted item, rather than returning to the customer a dozen minutes later empty handed.

This is just one way asset tags can assist with personalized and relevant customer service. Others include quickly locating a ladder to get items off of a shelf or finding a cart capable of handling bulky merchandise.

Beyond these applications, location-based services can offer many more benefits. In addition to staying competitive today, deploying such infrastructure will reap rewards as innovations evolve for years to come.

Source:http://www.libc.net/2018/03/15/location-based-services-the-next-technology-evolution-for-lebanons-retail-industry/

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Industrial sector hopes to achieve better growth rates in 2018

MUSCAT: Several industrial companies expressed their optimism that this year will see better growth of the industrial sector driven by higher oil prices and the implementation of many infrastructure projects in the Sultanate and other GCC countries.
Last year, industrial companies took a number of initiatives to reduce the impact of cutting government spending in the GCC, one of the main markets for Omani industrial firms.

Industrial companies faced last year many domestic and external challenges, including continued volatility in oil prices.
The political and economic conditions that prevailed in the region and other countries in 2017 limited the growth of revenues and profits of many companies.

Oman Cement said it had worked over the past year to overcome the effects of a significant rise in some key cost elements through good cost management and productivity improvement, and hoped to maintain market share despite continued strong competition, as mentioned in the company’s annual report which will be discussed today in the general assembly annual meeting.
The company plans to distribute 30 per cent of the nominal value of the share, equivalent to 30 baisas per share, which is the same as last year.

Raysut Cement said that it focuses on active markets with improvement in operational processes.
It added that its financial results were affected last year by a number of factors, notably the decline in demand and rising costs resulting from high cost of energy, raw materials, maintenance, increase in income tax and a number of other factors.
On March 13, the company approved a cash dividend of 29 per cent of the par value of 29 baisas. Raysut Cement is the largest industrial company by market value of RO 159.2 million and its share closed at 796 baisas.

The Oman Cables Industry said that in 2017 it maintained its sales volume despite current market conditions, noting that it benefited from 19 per cent higher copper prices than in 2016, which had a positive impact on the value of sales. Copper is the main component of cables.
Al Jazeera Steel Products said that improved oil prices and a commitment to reduce production will contribute to boosting the national economy and stimulating growth, which will stimulate the construction sector. At the same time, the company explained that the main challenges remain. It added that it will continue in 2018 focusing on improving factory uses, strict cost control and increase sustainable margins through diversification of markets and geographical areas.

Al Jazeera Steel Products is one of the leading industrial companies that achieved a good growth in its net profits by 6 per cent to RO 4.8 million in 2017. The company said that 2017 was a good year in terms of sales as it managed to sell and deliver the highest quantities. It added that the achievement was accomplished in a challenging year, starting with relatively high raw material prices followed by periods of volatility as the iron future market in China was affected.

In the Flour Mills sector, Salalah Mills said that the Group’s revenues declined slightly last year to reach RO 57.1 million, compared to RO 57.3 million in 2016. The parent company recorded a net profit of RO 4.1 million, a decrease of 9.6 per cent over 2016, because of completion from flour mills in the UAE, as well as the competition of the new mills in the Sultanate. The Group achieved a net profit of RO 3.9 million, an increase of 11.6 per cent from its level in 2016 due to improved performance of subsidiaries. At the Annual General Meeting (AGM), on March 26, the company plans to distribute 50 per cent cash dividend, or 50 baisas per share.

Source:http://www.omanobserver.om/industrial-sector-hopes-to-achieve-better-growth-rates-in-2018/