Audi Opens Used Luxury Car Business in Oman

Audi Oman

National sales and marketing manager for Audi Oman, Abdel Karim Awwad announced the opening of the German luxury car outlet in Oman last week.

Hoping to reap a share of the pre-owned luxury car market, the car maker launched the Audi Approved Business Unit.

“This facility would enable customers in the Sultanate to purchase fully approved and checked pre-owned Audi cars,” Awwad stated.

Last year proved a favorable one for Audi, selling 1,632 used cars in the Middle East, representing a 39% from the year before. The new business opening in Wattayah, Muscat will meet the growing demand in the Sultanate for excellent used luxury cars.

“The pre-owned car industry is a growing business in Oman as customers are on the look-out for a good deal, but do not want to compromise on quality. We are very proud to have launched our exciting new Approved plus business unit and we are unique in the scope and thorough nature of our 110 multi-point checks that come as standard for every vehicle,” Awwad said.

Audi is looking forward to a good year for Audi sales. Awwad explained, “We have many exciting plans and activities planned for this year. This includes plan for corporate and government accounts in terms of sale, several activities incorporating good offers  during the upcoming Muscat Festival that will connect us more closely with our valued customers.”

Global Office Furniture to Open Flagship Store in Oman

Global Office Furniture Solutions is opening their first store in Oman on January 9th in Wattayah. The business world in Oman, who will benefit from the high-quality furniture and full service available from Global Office can thank Al Jassar, the firm which promoted the opening of the store.

Al Jassar Promotion

V.T. Saileshwaran is the managing director of Al Jassar, which has promoted the services from a large range of industries to Oman, including construction, oil, petrochemical and gas, hospital management and more, explained that the showroom of Global Office will focus on the appearance of elegance combined with comfort and convenience.

High Quality Furniture

George Ambrail is the director of sales for the Middle East division of The Global Group. According to him, “The showroom features not just display eye-catching designs but also office furniture that is medically proven.”

Floor Planning

According to Ambrail, the company can also help businesses organize their space in a way which optimizes production and comfort.

“We also give them different views and once they give us the headcount we plan the floor plate based on that brief and take into account how much privacy level each person needs in his cubicle nor his demarcated area and then we provide the floor plans with different perspective views so that they can visualize it before they buy it.”

Ambrail adds that the Canada-based Globus brand is a high-quality brand hard to surpass.

“Oman is a potential market for premium furniture brands. A huge awareness for quality products in Oman has been building up which was lagging a few years ago. Here Globus would fit in perfectly.”

Mercedes-Benz Business Booms by 42% in 2011

Zawawi Trading Company

The division of commercial vehicle sales of the authorized distributor of Mercedes-Benz in Oman, the Zawawi Trading Company (ZTC) saw an increase in sales in 2011 over the previous year by 42%, unprecedented growth in the Sultanate.

This past year marked the 125th year since the invention of the automobile; a year which also coincided with the ZTC’s focused efforts to improve sales in Oman, especially within the commercial vehicles division.

There were several innovative programs established to attract customers, including the Mercedes-Benz “Field Force” which established a mobile workshop team to deliver fast and professional service, and a more personalized relationship between the customer and the seller. Also implemented were on-site vehicle checks, inspections, and driver training programs. The driver training was directed at improving the ability of the owners to maintain their cars while also teaching more defensive and economic driving skills.

The CEO of the Zawawi Trading Company automotive division, Craig Hardie, declared that,

“2011 was a year of great change in the commercial vehicle division of ZTC, as we continue to improve and expand our services and customer experience. This is a trend that we strongly intend to continue well into 2012, with numerous new and exciting projects planned for introduction this year.”

Oman Releases First Manufacturing Catalogue

Oman Chamber of Commerce and Industry

The Oman Chamber of Commerce and Industry held a ceremony in which the chairman of the OCCI, Khalil bin Abdullah Al Khonji was presented with the first copy of the first edition of the Omani Products Catalogue, a publication of the OCCI.

Produced by OmanAd in Conjunction with the OOCI

Ali Abdullah Al Kasbi, the managing director of OmanAd handed the catalogue to Al Khonji at the headquarters of the OCCI in Ruwi. OmanAd was responsible for the production and marketing of the new publication, which is available not only in book form but also as a CD for use on computer.

The Omani Products Catalogue is an indispensable resource for information about Omani manufacturing and production, presented bilingually in Arabic and English.

Eleven Categories

The catalogue lists approximately 100 firms divided into 11 different categories. The categories are as follows: chemicals, electric & electronic equipment, metal products, food & beverages, minerals & metals, non-metallic products, oil & natural gas, paper/plastic & packaging, seafood/fisheries, and textiles & garments.

The catalogue is organized into four sections to enhance its usefulness, and also presents articles about manufacturing in Oman and information about Oman’s economy and industries.

Accurate and Easy to Use

Another section lists the companies alphabetically and includes accurate and the most up-to-date contact information for the companies. Much research was done to present the most accurate possible information.

“We hope that the Omani Products Catalogue will provide a common platform for the Omani manufacturing sector to showcase their multifaceted capabilities to a fast changing world,” said Al Khonji in his opening address.

There will be distribution of the catalogue both nationally and internationally to assure the most widespread possible access. Free copies will be made available by the OCCI in Ruwi.

Oman Air Opens Luxury Lounge in Bangkok Airport

The national airline of the Sultanate of Oman, Oman Air, recently opened a new lounge reserved for Business and First Class passengers in the Suvarnabhumi Airport in Bangkok, Thailand.

Convenient Location

Suvarnabhumi Airport

The lounge can be found in a convenient location on the second floor where the G and E concourses meet in the International terminal. The lounge will be open to First and Business Class passenger flying with Oman Air. Passengers can expect the same “award winning” service which they receive when flying on their aircraft.

Work, Rest, Relax

The newly designed lounge can service 40 passengers in the utmost luxury, including a complete business center with private booths which offer free broadband and WiFi connections to the internet.

When the passengers are not working they are welcome to both hot and cold snacks which will be offered according to traditional Arabic style cuisine and oriental offerings prepared under the strict supervision of the chef of the Dusit Thani Hotel in Bangkok.

Happy to Open Lounge

Ahmed Hazeem al Balushi, the district sales manager for Oman Air said at the official opening ceremony that,

“I am very happy to open this wonderful lounge, which comes in our new design. We have focused on the needs of our customers; furthermore the new lounge at Suvarnabhumi International Airport provides our premium guests with ideal conditions for a relaxed stay before their departure. Just like our customers, we waited eagerly for this day.”

Improving Customer Service

The general manager of catering for Oman Air, Aaron Claxton said,

“The opening of this new lounge is a testament of Oman Air’s continual strides in providing its passenger with a seamless travel experience offering “5-star” services and traditional Omani hospitality from the moment they enter the lounge in Bangkok. The lounge has been designed with particular consideration to offering a tranquil and calming oasis while still retaining many of the features of its flagship lounge which opened in Muscat in January 2011.”

GCC Banks Looking to Increase Revenues as Global Crisis Subsides

According to a survey conducted by the Accenture financial services company, banks in the six countries which comprise the Gulf Cooperation Council (GCC) plan to increase their lending to small and medium enterprises, (SMEs) and concentrate more on young people and women to help increase their returns.

Reduced Cost-to-Income Ratio

Amr El Saadani

The survey showed that lenders within the GCC, which includes the United Arab Emirates and Saudi Arabia, will begin to reduce their cost-to-income ratio down to 35% from the current 36% average. The goal is to improve the return on equity investments to an impressive 20% by the year 2015 from today’s 16%, according to the survey, which included the opinions of 47 senior executives at banks in the region.

“The SMEs have traditionally been a small part of the business as the government sector dominates the economy,”said Amr El Saadani, managing director for Accenture’s financial services practice.

“Governments are now diversifying their economies and most banks have indicated they are interested in pushing this business,” added El Saadani.

Still Recovering from Global Crisis

GCC banks are still recovering from the international credit crisis of the past few years, which reduced lending considerably, harmed the investment banking industry, and led to more defaulted loans. Now economic growth is on the rise, spurred by increased government expenditures in response to recent political discontent, and higher prices for oil. This economic boom has also increased lending.

But the loans to SMEs only comprise about 2% of the total amount of lending in the GCC. This is a tiny percentage, especially when compared to about 27% in the countries which comprise the Organization of Economic Cooperation and Development, said El Saadani.

Women and Youth Will Play a Greater Role

It is important to keep in mind that over half of the population of the GCC is under 30 years old; and women-held assets is on the verge of an increase to close to $800 billion by the year 2014, compared to only $500 billion in 2009, added El Saadani.

“Young people are extremely tech-savvy,” El Saadani said.

“Women increasingly are also highly educated, increasingly employed and are becoming extremely demanding customers.”

Forum for Saudi-US Cooperation Opening in Atlanta

The Second Annual U.S. – Saudi Business Opportunities Forum, scheduled to open in Atlanta on Monday, December 5, and last three days, will discuss a variety of cooperative ventures worth an estimated $325 billion. The sectors which will most likely receive the lion’s share of the support are in education, oil, gas, infrastructure, petrochemical industry, transportation, water and electricity and information technologies.

Long-Lasting Partnership

The goals of the forum are many, but high on the agenda will be a desire to forge lasting bonds of cooperation and partnership between leading Saudi and American business executives while exploring the many new opportunities arising in the further development of both countries.

It is expected that there will be at least 1,200 delegates to the forum, including four Saudi Arabian ministers. In addition the head of the King Abdullah City for Nuclear and Renewable Energy will be present and participating in the forum.

“The forum will enable American companies to make use of the huge investment opportunities worth $385 billion offered by the Saudi government’s ambitious development plan in infrastructure, health, education and other projects,”

an official statement commented. The statement added further that there will also be discussions of the prospect of Saudi investments in Georgia, the US state which is hosting the forum.

Potential Cooperation Realized

Minister of Commerce and Industry Abdullah Alireza

One of the Saudi speakers, Commerce and Industry Minister Abdullah Alireza, commented on the renewed motivation to develop strategic US-Saudi partnerships and cooperation. He said that he expects this relationship to continue for many years, saying that “this forum will work to ensure that this great potential is realized.”

“Saudi Arabia is the top market in the region, and potential US exports are forecast to more than double by 2015,” he added.

For more information visit the US-Saudi Business Opportunities Web Site.

Inflation Falls to Seven-Month Low in Oman

The Economy Ministry of Oman announced that the inflation for the month of September reached a seven-month low of 3.7% annualized rate. Prices fell 0.3% for the month, due mainly to the slump in the price of gold.

There is an expectation that the Sultanate’s economy will expand by about 4% overall this year, and even higher in 2012, with a hope that it will grow by 4.2%.

Much of the expected expansion is due to the government’s increased investment in the nation’s infrastructure, helping to boost the economy while at the same time laying the groundwork for even more expansion and development.

Rolls Royce Engines to Power Boeing Dreamliners for Oman Air

Peter Hill CEO of Oman Air

Chief executive officer of Oman Air, Peter Hill announced that his airline has ordered Rolls-Royce Trent 1000 engines for the half dozen Boeing 787 Dreamliner aircraft which were recently ordered from Boeing.

First Airline to Use Trent 1000

According to the announcement Oman Air is the first airline in the Middle East to choose this particular engine. Last month the RR Trent 1000 powered the first 787 Dreamliner which was commissioned into service.

CEO Peter Hill said,

“We look forward to further strengthening our relationship with Rolls-Royce through the selection of Trent technology, for next generation aircraft, that offers both efficiency and environmental advantages.

“In line with our expansion plan, which saw us receiving the first two Embraer E175 aircraft this year, we have now confirmed our order for the next phase of our fleet strategy. The 787 Dreamliner achieves new levels of fuel efficiency, a significant portion of that improvement provided by engine technology which also reduces emissions and noise.”

 Service in 2015

Today Trent 700 engines power Airbus A330 aircraft for Oman Air. These planes are supported by a TotalCare long term service agreement with Airbus. The six new Boeing 787 Dreamliners are scheduled to go into service in the year 2015.

Middle East Outbound Travel Surging

According to the World Tourism Organization (WTO) the next 20 years will see an enormous increase in outbound travel and tourism from the Middle East, especially from Gulf Cooperation Council (GCC) states.

Population and Incomes on the Rise

The Middle East countries are now experiencing a concurrent rise in population and disposable incomes, which is stimulating a simultaneous surge in outbound travel and tourism. Already the travel marketplace in the UAE and Saudi Arabia alone is worth over $11.4 billion, creating intense interest among Asian and European destinations to attract this multi-billion dollar market, predicted to be worth upwards of $20 billion within the next twenty years.

Exhibition Space Going Like Hotcakes

Supporting this outlook is the increase in interest in the upcoming Arabian Travel Market 2012 trade show, which has witnessed an upturn in inquiries resulting in almost 60% of the exhibition space being taken.

The Group Exhibition Director, Reed Travel Exhibitions and organizer of the Arabian Travel Market  2012, Mark Walsh stated,

Mark Walsh

“The region is not only one of the fastest growing inbound markets, but for some, more crucially, it is one of the fastest growing outbound markets. We have received bookings from all five continents of the world reconfirming the importance of this regions outbound tourism potential.”

Billion Dollar Sector

It is foreseen by the WTO that an added two million Arabs will travel across the globe in the next 20 years, bringing the total of travelers from this region to 37 million. This population of tourists will spend about $20 billion on their trips, and will account for 2.2% of total international outbound travel, representing an increase of 0.7%.

“Those numbers may seem modest, but it is a case of quality not quantity with travelers from this region. According to the WTO, the average tourist from the UAE spends $22,000 a year on flights and accommodation alone, totaling $6.6 billion annually spent on outbound travel. Saudi Arabia’s market is worth an estimated $4.8 billion,” added Walsh.

The Arabian Travel Market 2012 trade show is scheduled to take place from April 30th through May 3rd at the Dubai International Convention and Exhibition Center under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai.