Japan’s Canon to launch operations in KSA

A man walks past a Canon sign in Tokyo. The imaging giant plans to start operations in Saudi Arabia. (Reuters)
Updated 06 June 2018
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Japan’s Canon to launch operations in KSA

  • Aims to hire 300 by 2020
  • Part of regional expansion

LONDON: Saudi Arabia’s drive to attract foreign investment racked up another success on Wednesday when Japanese multinational Canon revealed plans to set up operations in Riyadh, Jeddah and Alkhobar, employing 300 by 2020.

The cameras, photocopiers and medical imaging giant has been operating in the UAE where it employs 260, but is now targeting KSA as it expands in the Middle East and North Africa.

Anurag Agrawal, managing director, Canon Middle East, said, “Saudi Arabia is witnessing a transformation into a more diversified economy with several industries developing and establishing a presence in the region’s largest market.”

The Japanese hope that demand for Canon products will come from small and medium enterprises (SMEs), which make up 90 percent of all enterprises in Saudi Arabia, and which require efficient digital systems to prosper.

Saudi Arabian wants to lift the GDP contribution of SMEs to 35 percent by 2030.

Canon will back the country’s Saudization program by employing Saudi nationals, including women, as modernization takes hold.


Russian and Egyptian presidents meet to boost trade

Updated 17 October 2018
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Russian and Egyptian presidents meet to boost trade

  • The two leaders have developed a close personal rapport and are seeking to expand bilateral ties

MOSCOW: Russian President Vladimir Putin is hosting his Egyptian counterpart Abdel-Fattah El-Sisi for talks focusing on ways to boost trade between the two nations.
The two leaders have developed a close personal rapport and are seeking to expand bilateral ties, which have strengthened considerably over the past few years.
Opening Wednesday’s talks in the Black Sea resort of Sochi, Putin said that bilateral trade rose by 62 percent last year.
El-Sisi called on Russia to resume direct flights to Egyptian resorts, which Moscow suspended after a bomb planted by the Daesh group brought a Russian passenger plane down over Sinai in October 2015, killing all 224 people on board.
El-Sisi is on his fourth trip to Russia since taking office in 2014, and Putin visited Egypt in 2015 and 2017.