Nissan to launch two more SUVs in Saudi Arabia after unveiling all-new 2025 Patrol

Nissan to launch two more SUVs in Saudi Arabia after unveiling all-new 2025 Patrol
Adib Takieddine, the managing director at Nissan Saudi Arabia, says more cars in the SUV segment are coming to the Kingdom. (me.nissanmotornews.com)
Short Url
Updated 04 September 2024
Follow

Nissan to launch two more SUVs in Saudi Arabia after unveiling all-new 2025 Patrol

Nissan to launch two more SUVs in Saudi Arabia after unveiling all-new 2025 Patrol

ABU DHABI: Japanese carmaker Nissan will soon introduce two more Sports Utility Vehicles (SUVs) in Saudi Arabia as it takes advantage of the Kingdom’s position as the leading car market in the Gulf region.

“We have more cars coming in the SUV ranges to meet different customers’ needs. Two of these SUVs will be introduced soon in Saudi Arabia, and one of them will be launched from Saudi to the rest of the region,” Adib Takieddine, the managing director at Nissan Saudi Arabia, told Arab News during the global launch of the all-new 2025 Patrol in Abu Dhabi.

“Saudi Arabia is the biggest market in the GCC for automotive, representing slightly above 50 percent of the overall TIV (Total Industry Volume),” Takieddine added.

Car imports topped 93,199 units in 2023 and 66,870 units in 2022 – mostly from Japan, India, South Korea, the US and Thailand – according to the Zakat, Tax and Customs Authority, making the Kingdom one of the top 20 car markets globally.

The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)
The seventh generation Nissan Patrol is a bold leap forward, according to president and CEO Makoto Uchida. (Supplied)

The launch of two more SUVs in the Kingdom would complement the newly-unveiled Nissan Patrol – which received a massive makeover from its previous iteration – which, according to Takieddine, changes the landscape for that segment. There was however no specific mention which SUV models would be introduced.

“We are excited to launch the new Patrol… that will change ground roles for its segment, with the way it looks, the power it brings with the new engine options, the way it empowers with advanced technologies, some of which introduced for the first time in its SUV segment, and the way it feels in the premium comfort of its cabin,” he said.

With more options for its SUV clients, Nissan hopes to strengthen its position in the Saudi car market.

“The automotive industry is very competitive and dynamic, especially in Saudi, with the size of the country and the different age groups, where more than two-thirds of the population is young,” Takieddine explained.

Saudi consumer preferences for new vehicles, particularly those of the country’s tech-savvy youth, are increasingly aligned with those in Western markets, one survey noted. This means growing demand for technology-based features including advanced connectivity, infotainment systems, autonomous parking and driving assistance.

“The new Patrol introduces new technologies, some of them for the first time in the segment, such as biometric cooling [designed to maintain optimal comfort regardless of external temperatures], MyNissan [an app that connect the driver with the car] and the 28.6-inch horizontal Monolith display [which enables the driver to project and view ultra-wide images and enjoy full view of the vehicle],” Takieddine said.

“This shows our commitment to always provide the best technologies for our customers.”

Meanwhile, Nissan is also aligning itself with the Saudi government’s thrust towards the consumer adoption of electric vehicles. The Kingdom has set a goal to transition 30 percent of all vehicles in Riyadh to electric by 2030.

“We are committed to an electric future, as illustrated by our Ambition 2030 long-term vision. Our near-term plan, The Arc, includes launching 30 new electrified and internal combustion engines vehicles globally, 13 will be launched in the AMIEO region,” Takieddine said.


Closing Bell: Saudi Arabia’s key benchmark index begins 2025 with gains

Closing Bell: Saudi Arabia’s key benchmark index begins 2025 with gains
Updated 58 min 8 sec ago
Follow

Closing Bell: Saudi Arabia’s key benchmark index begins 2025 with gains

Closing Bell: Saudi Arabia’s key benchmark index begins 2025 with gains

RIYADH: Saudi Arabia’s Tadawul All Share Index began the year on a positive note, gaining 0.34 percent or 40.81 points to close at 12,077.31 points on Wednesday.

The total trading turnover for the benchmark index reached SR3.3 billion ($882.8 million), with 152 stocks advancing and 71 declining. The MSCI Tadawul Index also saw a slight increase, rising 5.30 points (0.35 percent) to finish at 1,514.61 points.

Meanwhile, the Kingdom's parallel market, Nomu, experienced a decline, falling 481.86 points (1.53 percent) to close at 30,993.86 points. The market saw 24 stocks gain, while 45 retreated.

Salama Cooperative Insurance Co. led the day’s gains, with its share price climbing 9.54 percent to SR19.98. Other top performers included Wataniya Insurance Co., which saw a 6.04 percent increase to SR26, and Allied Cooperative Insurance Group, which rose 5.65 percent to SR14.22. Fawaz Abdulaziz Alhokair Co. saw a 4.54 percent rise to SR13.82, while Shatirah House Restaurant Co. gained 3.44 percent, closing at SR21.68.

On the other side, Nayifat Finance Co. was TASI’s worst performer, with a 3.75 percent drop to SR14.88. Riyad REIT Fund fell 2.79 percent to SR6.61, and Al-Babtain Power and Telecommunication Co. saw a decline of 2.31 percent, settling at SR38.10. Savola Group and Gulf Insurance Group also posted losses, with their share prices falling by 1.91 percent to SR36 and 1.58 percent to SR31.20, respectively.

On the announcements front, the General Authority for Competition approved the economic concentration process for BinDawood Holding’s acquisition of 100 percent of Zahret Al Rawda Pharmacies Co. Ltd.

The decision, dated December 31, 2024, marks a significant step in the acquisition process. BinDawood has announced it will provide updates on the completion of the transaction and any material developments as they arise. By Wednesday’s close, BinDawood’s share price had risen 1.08 percent to SR6.54.

Separately, First Avenue for Real Estate Development Co. disclosed the signing of a non-binding Letter of Intent with Awj Real Estate Development and Investment Co. to establish a real estate fund focused on commercial, office, and hospitality projects.

The fund will invest in four key assets: West La Perle, East La Perle, La Perle Residential Land, and La Perle Hotel Land. First Avenue is expected to hold between 40 percent and 50 percent of the fund, with Awj holding between 50 percent and 60 percent. First Avenue’s shares dropped 1.71 percent, closing at SR8.60.


Egypt signs $120m deal to establish pharmaceutical industrial zone

Egypt signs $120m deal to establish pharmaceutical industrial zone
Updated 01 January 2025
Follow

Egypt signs $120m deal to establish pharmaceutical industrial zone

Egypt signs $120m deal to establish pharmaceutical industrial zone

RIYADH: Egypt is set to establish a $120 million pharmaceutical industrial hub in the Suez Canal Economic Zone, marking a significant move toward localizing medicine production and bolstering its regional manufacturing position.

The agreement was finalized between SCZONE’s investment arm, SCZONE Istithmar, and the Arab Pharmaceutical Materials Co., or Arab API, which will oversee the new facility. The deal was signed in the presence of Khaled Abdel Ghafar, Egypt's minister of health, alongside other high-ranking officials.

The deal outlines plans for a new facility in Sokhna Industrial Area, spanning 96,828 sq. meters. It will focus on producing key raw materials for the pharmaceutical industry, further strengthening Egypt's self-sufficiency in medicines. The site will produce active and inactive ingredients, intermediate materials, and chemicals essential for drug manufacturing.

“This project reflects SCZONE’s commitment to localizing the pharmaceutical industries in Egypt and strengthening its position in this field to become a regional hub for this industry based on the capabilities of SCZONE,” said Waleid Gamal El-Dien, chairman of SCZONE.

He added that SCZONE is dedicated to fostering an attractive investment environment with the infrastructure needed to ensure the success of such projects. “This project marks a significant shift in Egypt's pharmaceutical industry sector,” he continued.

“It is not just an industrial project, but it is an implementation of Egypt’s vision based on integration between all concerned parties to achieve self-sufficiency in essential medicines, and reduce the gap between supply and demand in the local market,” Gamal El-Dien said.

The partnership will see SCZONE Istithmar collaborate with Arab API to build, manage, and operate the plant. The contract was signed by Ahmed Saeed Kilani, chairman of Arab API, and Mohamed Abdel Gawad, SCZONE’s vice chairman for investment and promotion affairs, on behalf of their organizations.

The facility aims to meet local pharmaceutical needs while positioning Egypt as an exporter, strengthening the country’s manufacturing capacity.

Ghafar noted that the investment in the facility is a vital step in enhancing public health services and contributing to the national economy. He emphasized the government’s focus on achieving self-sufficiency and reducing pharmaceutical imports.

The new plant will support Egypt’s rapidly growing pharmaceutical industry, meeting rising domestic demand and positioning the country as a key player in the global market.

The $120 million investment is part of a broader pharmaceutical initiative within SCZONE, which includes other factories such as Ateco Pharma and Genavex Egypt, further strengthening local production capabilities.

In addition, SCZONE has earmarked 4 million sq. meters for the creation of a larger pharmaceutical industrial zone in partnership with the Egyptian Authority for Unified Procurement. This initiative underscores the government’s push for collaboration across stakeholders to achieve long-term self-sufficiency in medicine production.

The new plant is expected to reduce Egypt's reliance on imported pharmaceuticals, boost local production, and expand exports. It is part of the government’s broader strategy to modernize and expand the pharmaceutical sector, improve health services, and contribute to Egypt’s economic development.

SCZONE has played a key role in attracting investment to Egypt’s pharmaceutical sector, leveraging its strategic location and competitive advantages. The Sokhna Industrial Zone, where the new plant will be located, already hosts successful pharmaceutical projects, including Ateco Pharma’s intravenous injection drugs factory and Genavex’s vaccine manufacturing facility.


Saudi weekly PoS transactions close 2024 with $3.6bn in value: SAMA  

Saudi weekly PoS transactions close 2024 with $3.6bn in value: SAMA  
Updated 01 January 2025
Follow

Saudi weekly PoS transactions close 2024 with $3.6bn in value: SAMA  

Saudi weekly PoS transactions close 2024 with $3.6bn in value: SAMA  

RIYADH: Saudi Arabia’s consumer spending soared in the final week of 2024, with point-of-sale transactions climbing 17.2 percent week-on-week to SR13.8 billion ($3.6 billion), official data showed.  

Figures from the Saudi Central Bank, also known as SAMA, revealed significant growth across all sectors between Dec. 22 and Dec. 28, with the total number of transactions hitting 211.97 million during the week. 

The telecommunications sector led the growth in transaction value, reporting a 29.6 percent week-on-week increase to SR132.5 million.   

The recreation and culture sector followed closely, with a 27.7 percent rise, amounting to SR286.3 million. Seasonal gifting trends also contributed to a 26.1 percent increase in the jewelry sector, which recorded SR315 million in transactions.   

The food and beverage sector posted a 22.9 percent jump, reaching SR2 billion.  

Other sectors also saw substantial increases in transaction values. The education sector rose 20.7 percent, while health and furniture reported growth of 16.4 percent and 16.2 percent, respectively.   

Miscellaneous goods and services, as well as clothing and footwear, recorded similar growth at 16.2 percent and 16 percent. The restaurants and cafes sector grew by 14.4 percent, with transportation close behind at 14.2 percent.  

In terms of transaction volume, the jewelry sector led with a 25.4 percent week-on-week increase, reaching 231,000 deals.   

Telecommunications saw a 13.9 percent rise, followed by recreation and culture with a 13.3 percent increase, and transportation with an 11.8 percent growth.   

Clothing and footwear transactions rose by 11.5 percent, furniture by 10.6 percent, and miscellaneous goods and services by 8.9 percent.  

Regionally, Hail reported the highest growth in transaction value, with a 29.1 percent increase to SR218.9 million. The city also saw a 15 percent rise in the number of deals, reaching 3.65 million.   

Tabuk followed, posting a 28.9 percent growth in transaction value to SR270.5 million and an 11.3 percent rise in the number of transactions, totaling 4.57 million.  

Madinah recorded a 23.3 percent increase in value to SR594.8 million, alongside a 9.9 percent growth in the number of transactions.   

Riyadh, however, saw the highest overall transaction value at SR4.7 billion, reflecting a 12.4 percent increase. The capital also recorded a 6.2 percent rise in transaction volume.  

Jeddah followed with a 13.4 percent increase in transaction value and a 5.9 percent rise in transaction volume.  


Saudi Arabia standardizes USB Type-C charging ports for electronic devices

Saudi Arabia standardizes USB Type-C charging ports for electronic devices
Updated 01 January 2025
Follow

Saudi Arabia standardizes USB Type-C charging ports for electronic devices

Saudi Arabia standardizes USB Type-C charging ports for electronic devices

RIYADH: As part of an initiative to improve user experience and reduce electronic waste, Saudi Arabia will adopt a unified charging standard for electronic devices, mandating USB Type-C ports. The new regulation, which took effect on Jan. 1, follows a decision by the Communications and Space Technology Commission in partnership with the Saudi Standards, Metrology, and Quality Organization.

The goal of this unification is to streamline charging and data transfer technology across the Kingdom, ensuring higher-quality technical products and enhancing consumer convenience.

CST and SASO have estimated that the new policy will reduce the local demand for various types of charging ports by over 2.2 million units each year. It will also save consumers more than SR170 million ($45.2 million) annually and support the Kingdom’s sustainability goals by cutting electronic waste by nearly 15 tonnes per year.

The first mandatory phase includes mobile phones, tablets, digital cameras, e-readers, portable video game consoles, headphones, earphones, loudspeakers, keyboards, computer mice, portable navigation systems, and wireless routers. A second phase, beginning on April 1, will expand the mandate to include laptop computers.


Aramco raises diesel prices in Saudi Arabia to $0.44 per liter

Aramco raises diesel prices in Saudi Arabia to $0.44 per liter
Updated 01 January 2025
Follow

Aramco raises diesel prices in Saudi Arabia to $0.44 per liter

Aramco raises diesel prices in Saudi Arabia to $0.44 per liter

RIYADH: Saudi Aramco has increased diesel prices in Saudi Arabia to SR1.66 ($0.44) per liter, effective Jan. 1, 2025, marking a 44.3 percent rise compared to the start of 2024.

According to the latest update on Aramco’s website, the company has kept gasoline prices unchanged, with Gasoline 91 priced at SR2.18 per liter and Gasoline 93 at SR2.33 per liter.

The annual review of diesel prices is part of Aramco’s pricing mechanism, implemented in 2022. This year marks the fourth review under the system. In January 2024, the Kingdom raised diesel prices to SR1.15 from SR0.75 per liter, continuing its gradual adjustments.

Despite the hike, diesel prices in Saudi Arabia remain lower than those in many neighboring Arab countries. In the UAE and Qatar, a liter of diesel is priced at $0.73 and $0.56, respectively, while in Bahrain and Kuwait, it costs $0.42 and $0.39 per liter.

Aramco’s website also lists the current price of kerosene at SR1.33 per liter and LPG at SR1.04 per liter.

On Dec. 31, Aramco announced reductions in the official selling prices for propane and butane for January 2025. The price of propane was reduced by $10 per ton, while butane saw a $15 per ton cut compared to the previous month.

Aramco’s OSPs for LPG are key benchmarks for contracts supplying the product from the Middle East to the Asia-Pacific region.

Additionally, the energy giant reduced pricing for its Arab Light crude oil for Asian buyers in January 2025. The OSP for Arab Light was cut by 80 cents, bringing it to $0.90 per barrel above the regional benchmark. Arab Extra Light and Super Light grades saw reductions of 60 cents and 70 cents per barrel, respectively, while Arab Medium and Heavy grades experienced cuts of 70 cents per barrel.

These adjustments reflect Aramco’s ongoing efforts to align its pricing strategy with market dynamics while supporting its broader energy goals.