LG Dual Inverter delivers exceptional energy efficiency

Updated 11 March 2018

LG Dual Inverter delivers exceptional energy efficiency

Energy efficient air conditioners are becoming more common across the globe, driven by rising electricity costs and eco-friendly consumers. Electricity rates increased by 300 percent in 2018, and gas prices have skyrocketed as well.
In addition to these rising energy costs, recent MEPS regulations on electronic goods have helped convince Saudi consumers of the necessity of energy efficient air conditioners.
The LG Dual Inverter is a high-performing air conditioner that is setting new standards in energy efficiency.
“According to the statistics, 60 percent of a monthly electricity bill in summer is from AC consumption and rest is other electrical equipments. Hence, the LG Dual inverter is the key solution in decreasing the monthly electricity bill up to 53 percent,” LG said in a press release.
“The Dual Inverter has been tested to give a good performance even when the harsh climate in Saudi Arabia reached up to 60˚C, the compressor is able to perform in up to 65˚C outside temperature.
“This is a major breakthrough in HVAC because most of the non-inverter and inverter technology ACs failed to perform at the temperature above 55˚C and consumed huge amounts of electricity putting a massive dent in monthly expenses,” the electronics giant said.
The Dual Inverter allows the air conditioner to operate at variable speeds, meaning that it can be adjusted to suit indoor conditions and operate efficiently in any setting. Just like how an automatic car changes gears to match input from its driver, the inverter compressor’s ability to shift output depending on environmental conditions gives it incredible efficiency and versatility.
“We understand the importance of reducing energy consumption for Saudi consumers, and we’ve designed our latest energy efficient air conditioners to drastically reduce energy intake.” said Seong-jin Jo, president and CEO of the LG Electronics Home Appliance and Air Solution Company.
He added: “In 2018, LG will continue focusing on developing innovative products with an emphasis on creating value for our consumers.”

Emirates NBD opens branch in Alkhobar

Updated 20 September 2018

Emirates NBD opens branch in Alkhobar

Emirates NBD, a banking group in the Middle East, has expanded its presence in the Kingdom with the opening of its first branch in Alkhobar in the Eastern Province. Emirates NBD now covers three key regions in Saudi Arabia with a presence in Riyadh, Jeddah and Alkhobar. 

As Saudi Arabia progresses plans for economic reform, in line with its Vision 2030, Emirates NBD’s presence builds on the growing economic and trade ties between Saudi Arabia and the UAE. Following the establishment of the Saudi-Emirati Coordination Council, the UAE and Saudi Arabia recently announced The Strategy of Resolve, a joint vision for economic development through 44 joint strategic projects within a five-year time frame. 

UAE-based Emirates NBD is the first non-Saudi bank with a significant branch network across the Kingdom. The bank offers retail, private, business and wholesale banking across its network of three full-fledged branches in the Kingdom, in addition to corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm.

Emirates NBD also operates in Egypt, India, Singapore, and the UK with representative offices in China and Indonesia. 

“Our presence in Saudi is integral to Emirates NBD’s growth strategy as we continue to explore opportunities in the GCC region’s largest and most dynamic economy,” said Hesham Abdulla Al-Qassim, vice chairman and managing director of Emirates NBD. 

“Saudi Arabia is in the midst of a landmark economic transformation and we look forward to continuing to support Saudi individuals and businesses looking for a trusted banking partner.” 

Emirates NBD recently renewed its partnership with the Kingdom’s Kafalah Program, which aims to promote financing to small and medium enterprises (SMEs) within the country.

Loai Abduljawad, CEO of Emirates NBD KSA, said: “Emirates NBD’s expanded network strengthens our offering to individuals and corporates in Saudi Arabia looking to invest and trade across the MENA region and beyond. Our superior value proposition, built on the bank’s unique ‘high tech + high touch’ philosophy of offering customers a modern banking experience complemented by personalized advisory services, will enable us to strengthen customer acquisition in the Kingdom as we continue to support the country’s long-term growth and development goals, as outlined in Saudi Vision 2030.” 

Emirates NBD is a leading banking group in the region. As of June 30, 2018, its total assets were 477.5 billion dirhams, ($130 billion). The group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 percent of all financial transactions and requests conducted outside of its branches. The bank was declared the “Most Innovative Financial Services Organization of the Year” at the 2017 BAI Global Innovation Awards.