Mega winter sale at Emax

Updated 24 December 2012
0

Mega winter sale at Emax

Emax, described as the largest electronics retailer in the Middle East and part of the Landmark Group, has launched a mega promotion in Saudi Arabia inviting all its customers to visit Emax stores to stand a chance to win one of the eight KIA Cerato 2013 cars which will be given away during the promotion period.
As part of the winter promotion, anyone visiting Emax will receive a raffle coupon that will be entered into a draw for the mega prize. No purchase is required to be eligible for the draw.
Additionally, Emax shoppers will have the opportunity to take advantage of new launches, special deals, prices and free gifts on world-class brands across several categories, including mobile phones, tablets, televisions, digital and video cameras, DVD players, audio systems, laptops, printers, home appliances and much more.
As a partner to numerous world renowned brands, Emax stores will be stocked with the latest quality products from all the leading brands.
Neelesh Bhatnagar, CEO of Emax, said: As one of the prime names in the field of consumer electronics, Emax has always strived to introduce exciting and innovative deals to offer its customers a rewarding and memorable shopping experience. We love pampering our clientele through incredible bargains and here again we bring one of our massive promotions to our Saudi customers giving them a chance to win eight of the Sleek and Dynamic style KIA Cerato 2013 cars. We are confident that the wide range of world-renowned brands and supreme deals with unbeatable offers will once again encourage thousands of Saudi customers to visit the Emax stores during this period.”
The promotions are valid across all Emax stores in Saudi Arabia till Dec. 28. The stores are in Makkah, Riyadh, Jeddah, Abha-Khamis Mushayt, Dammam and Hofuf. The final draw for the KIA Cerato 2013 cars is on Dec. 31.


Saudi Arabia’s economy in a ‘sweet spot’, says US bank

Updated 23 April 2018
0

Saudi Arabia’s economy in a ‘sweet spot’, says US bank

  • Bank of America Merrill Lynch Global Research: “With a more entrenched current account surplus possible this year, FX reserves could increase.”
  • “Reforms are likely to broadly proceed, even at these levels of oil prices, although spending may increase further above baseline expectations.”

LONDON: The Saudi Arabian economy is in a “sweet spot”, with higher oil prices allowing the Kingdom to boost spending while not having a significant impact on the country’s fiscal balance, according to Bank of America Merrill Lynch Global Research.

“Our meetings on Saudi Arabia comfort us in our view that the economy is in a sweet spot. Higher oil prices are allowing the focus on boosting activity not to materially impact fiscal balances,” the note said, published following the IMF and World Bank Spring meetings held in Washington DC this month.

“With a more entrenched current account surplus possible this year, FX reserves could increase this year,” the note said.

The bank forecasts the country will continue to push forward with its reform process regardless of the rising price of oil. Many of Saudi Arabia’s reforms are part of its Vision 2030 that aims to diversify the country’s economy away from its reliance on oil.

Brent oil reached a three-and-a-half year high on 19 April, hitting $74.74 a barrel.

“Reforms are likely to broadly proceed, even at these levels of oil prices, although spending may increase further above baseline expectations,” the note said.

The bank was also upbeat about Egypt’s economic prospects, noting that the country’s “macro stablization” is continuing and that its reform program, which includes cutting fuel subsidies and reforming the tax system, remains “intact”.

“Authorities are on track to achieve a small 0.2 percent of GDP primary surplus this fiscal year. The target is to bring the primary surplus to 2 percent of GDP next fiscal year, and maintain it there going forward,” it said.