New economic research unit at KPMG

Updated 10 April 2018
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New economic research unit at KPMG

KPMG Al-Fozan & Partners, a leading provider of audit, tax and advisory services, has established a specialized Research and Economic Studies unit. The new unit will conduct research on various aspects of the Saudi economy and publish reports based on such studies. It will also provide advice to investors through in-depth reports about the investment climate, impact on the economy and an analysis of economic indicators relevant to the Saudi economy.
KPMG Al-Fozan & Partners appointed Hussein Abusaaq as its chief economist and head of the Research and Economic Studies unit. Abusaaq will lead the new unit, which will cover the different business sectors in the Saudi economy.
He holds a doctorate in economics from the University of Florida, USA; a master’s degree in financial engineering; a master’s in financial economics from the US, as well as a bachelor’s in information systems management with honors from the King Fahd University of Petroleum and Minerals (KFUPM). Abusaaq has published several scientific research papers at global conferences in the US, and has participated in scientific seminars in a number of economic organizations. He served as an economist at the Saudi Arabian Monetary Authority since 2004 prior to joining the Ministry of Economy and Planning.
Abdullah Al-Fozan, chairman of KPMG MESA and KPMG Saudi Arabia, said: “Establishing this valuable unit coincides with the economic, investment, and development boom being witnessed by the Kingdom, in line with the Saudi Vision 2030 and its proposed programs, which is set to make Saudi Arabia a key attractive destination for investments in the region and the world.”
Abusaaq said that the Research and Economic Studies unit aims to fulfill the aspirations of relevant stakeholders in both the public and private sectors. “The unit will provide valuable studies related to the investment climate and analysis of economic indicators. It shall also keep track of and examine economic changes and assess all new developments taking place at the local level.”


Genesis G70 arrives in the Middle East

Updated 19 April 2018
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Genesis G70 arrives in the Middle East

Genesis has officially launched its compact G70 luxury sedan in Middle East markets, completing the brand’s core sedan lineup. Engineered as a dynamic car with strong appeal to younger customers and more enthusiastic drivers, the G70 joins the flagship G90 large sedan and mid-sized G80 and G80 Sport.

“Genesis has been very well received in the Middle East, and the Genesis G70 will be an exciting new chapter in our story,” said Altar Yilmaz, Genesis general manager for the Africa and Middle East region. “For many of our potential customers, this is the Genesis they have been waiting for.”

The arrival of the Genesis G70 in showrooms follows a previous display presentation at the Dubai International Motor Show in November 2017, where Genesis fielded a large number of inquiries about the car. With larger G80 and G90 models already growing a strong base of loyal customers, it is expected the compact model will add significantly to the brand’s appeal in the competitive Middle East luxury car market.

The G70 showcases the future direction of the Genesis brand’s “Athletic Elegance” design identity. 

“The G70’s interior is configured to prioritize an excellent user experience, with superb fit and finish throughout. The interior packaging reflects simplicity, with an emphasis on genuine functionality instead of gimmickry. A horizontal layout brings a sense of stability, with an intuitively laid-out switchgear and a comfortable, assertive sport steering wheel,” the carmaker said.

The G70 offers two powertrains in the Middle East region — a 3.3-liter V6 petrol turbo and 2.0-liter I4 petrol turbo.  The Lambda II 3.3-liter V6 turbo GDI engine is the heart of the enthusiast-focused G70 Sport, with 370 ps and maximum torque of 52.0 kg.m (510 N.m) 0 to 100 km/h acceleration in 4.7 seconds, and a top speed of 270 km/h.