Saudi market prepares for ‘driverless cars’

Updated 03 July 2014

Saudi market prepares for ‘driverless cars’

The Saudi market received the first car to be driven without a driver through a remote control.
In the first appearance of the brand BYD, which launched the first of its branch in Jeddah, through its agent company First Advanced Auto.
The launch event took place in the presence of Anwar Habibullah, consul general of the Republic of China, a number of businessmen and the media.
Mohammed Mesbahi, executive vice president of the First Advanced Auto company, expressed his happiness of being the official agent of BYD brand in Saudi Arabia.
The consul general later launched the pages of social networking sites and so wrote the first tweet and the first post on the Facebook page and Twitter.
These networking sites would help build the brand in the minds of Saudi society. A dedicated team works for 24 hours on these sites to connect with the audience and find out their requirements and their opinions and suggestions.
Ibrahim Qahtan, general manager of BYD Arabia, unveiled four models to the Saudi market, which combine the technology of automotive industry and information technology.
The visual presentation stunned the audience as the first model BYD F3 was unveiled. This is designed to be a sports sedan including smart technologies with streamlined exterior is modern and contemporary, including multi-functional steering wheel, adjustable control panel, harmonious and integrated centralized command displays all the Navigation information clearly through touch technology.
Then came the launch of the second car BYD F7. With specifications of endless power dynamics, its presence on the road draws attention. People can enjoy the harmony and the spaciousness of the interior cabin, to the design of its seats covered with soft leather.
The event also witnessed the unveiling of the third car BYD S6. It is being launched after three years of continuous research and development,
Also, the curtain was lifted for people to enjoy BYD F5 (a car that can be driven without a driver via remote control). The pilot can control the path of movement to reverse and forward or direct it right or left without exceeding 7 km/h speed limit.
Steering control remote, the use of turbo pumping technology, direct-injection and smart devices and a creative workmanship have generated a huge interest.
Diene Chung, regional director for the brand BYD Middle East, said that although BYD did not sweep the Chinese market significantly, its accelerated growth had created confidence in Middle East markets.
It owns four car assembly factories in the regional states such as in Iraq, Egypt, Sudan and Ethiopia, which provide a solid foundation in the development process in the region.
BYD was established in 1995 and listed on the Hong Kong Stock Exchange in 2002.

Davos 2019: Mideast CEOs turn gloomy on global economy, PwC study finds

Political and business leaders are gathering in the mountain resort of Davos in Switzerland this week. (AP)
Updated 22 January 2019

Davos 2019: Mideast CEOs turn gloomy on global economy, PwC study finds

  • The loss of confidence from regional CEOs was the second biggest fall in the world, beaten only by North American bosses, whose optimism fell from 63 percent to 37 percent

DAVOS: Chief executives in the Middle East are much less confident on prospects for the global economy than they were in 2018, according to a report from accounting and consulting group PwC.

The firm’s annual survey of top bosses’ attitudes, traditionally launched on the eve of the World Economic Forum Annual Meeting in Davos, showed a big drop in the number of CEOs from the region who believe global economic growth will improve in the next 12 months.

Only 28 percent of Middle East business leaders now see an improvement in economic prospects, compared with 52 percent this time last year. Bob Moritz, global chairman of PwC, said: “The prevailing sentiment this year is one of caution in the face of increasing uncertainty.”

The loss of confidence from regional CEOs was the second biggest fall in the world, beaten only by North American bosses, whose optimism fell from 63 percent to 37 percent.

PwC said that the Middle East decline was due to “increased regional economic uncertainty,” while the North American fall was “likely due to the fading of fiscal stimulus and emerging trade tensions.”

The results of the PwC poll - conducted among 1,300 business leaders around the world - reflected an overall decline in business confidence in each region surveyed. Last year, only 5 percent of CEOs said that global economic growth would decline. For 2019, this has jumped to nearly 30 percent.

Globally, confidence in CEOs’ own companies to grow revenue this year has also fallen sharply. Moritz said: “With the rise in trade tension and protectionism it stands to reason that confidence is waning.”

The US retains its lead as the top market for growth among international investors, but many CEOs are turning to other markets, or investing at home. The ongoing trade conflict between the US and China has resulted in a sharp decline in the number of Chinese bosses chosing the US as a market for growth, down from 59 percent last year to only 17 percent for 2019.

Globally, CEOs are still more worried about the threat of over-regulation of their businesses - named as the top concern again in 2019 - but uncertainty about policy has become a major issue too.

In the Middle East, the main concern is geopolitical uncertainty, followed by the threat of cyberattack, policy uncertainty and the speed of technological change.