Lenovo rolls out new products

Updated 17 January 2013
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Lenovo rolls out new products

Hoping to build on its 8.8 percent market share in the Kingdom, Lenovo launched six new products at a glittering event in Riyadh.
The new products include Lenovo Yoga and ThinkPad Twist, as well as the ThinkPad X1 Carbon, IdeaPad A720, ThinkPad Tablet 2 amongst others.
Last year, the Kingdom sold 2.5 million units of pc units including notebooks and touch pads in the local market.
Lenova products launched in the Kingdom are designed to cater to the varied consumer, small to medium (SMB) and enterprise markets ranging from desktops and All-in-One devices all the way to the latest convertible suite.
Anirudh Kaul, Lenovo’s Saudi Arabia general manager, outlined the company’s continuous commitment to the Saudi market with the opportunity to build on the historic 8.8 percent market share the company achieved in the Kingdom, as per IDC Q3 2012 final results.
In the last year, Lenovo achieved the highest growth amongst the top 10 main vendors in the Middle East and Africa (MEA), securing a milestone 10 percent market share in six countries across the region including Egypt, UAE, South Africa, Lebanon, Kuwait, Jordan and Morocco.
Lenovo in the Middle East and Africa has established six fully-fledged offices, including Saudi Arabia, and now employs more than 150 talented people.
“As such, Lenovo’s MEA business is recognized as being a significant contributor to the global revenue growth which has assisted the PC manufacturer in achieving the second position in the market amongst PC manufacturers worldwide; according to IDC Q3 2012 final results. It also reported a record global share of 15.6 percent and 12 straight quarters as the fastest growing PC Company in the world,” said Kaul.


Committee to decide on UAE industries open to full foreign ownership

Updated 1 min 22 sec ago
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Committee to decide on UAE industries open to full foreign ownership

LONDON: The UAE’s new law enabling foreigners to own 100 percent of onshore companies will be limited to specific industries deemed essential to the country’s economy, according to a senior government official.
Abdulla Al-Saleh, undersecretary for foreign trade & industry at the UAE’s Ministry of Economy, told Bloomberg that a final decision had not been taken on what industries to include in this week’s landmark decision to allow foreigners to fully own non-free zone companies.
Al-Saleh said a committee — made up of representatives of the country’s seven emirates — would make a decision on which industries to initially include, and would add further industries and companies in the future.
The law’s goal “is to attract quality investments and expertise and isn’t necessarily about the size or number of investments,” he said in a telephone interview with Bloomberg.
The UAE’s Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al-Maktoum said the ownership changes — as well as longer visas for selected students and selected professions — would be put implemented by the end of the year.
The move to extend foreign ownership has been welcomed by economists, even as key details have yet to be announced.
“The eligibility and the extensiveness of the investment liberalization will be critical to gauge the support to the economy,” Monica Malik, the chief economist at Abu Dhabi Commercial Bank, told Arab News on Thursday.
“Recent official comments indicated that the area of focus will likely be on factors such as job creation and technology transfer.”
Such a theme is in keeping with the UAE’s move to allow visas for up to 10 years for specialists working in medical, scientific, research and technical sectors, alongside 5-year student visas and 10-year visas for “exceptional” students.
Longer visa terms are predicted to especially impact the local real estate sector, which has languished in recent years thanks to increasing supply and sluggish economic conditions.