New LG fridge raises the bar on energy efficiency

The refrigerator is the first in the industry to come with a 20-year warranty for its internal compressor.
Updated 09 September 2018
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New LG fridge raises the bar on energy efficiency

LG Electronics has unveiled its new bottom-freezer refrigerator at the IFA 2018 (Aug. 31-Sept.5) in Berlin, Germany. The company claimed the new product stands out from the competition with market-leading energy efficiency as well as durability and an array of convenience-enhancing features. The refrigerator is the first in the industry to come with a 20-year warranty for its internal compressor. 

The refrigerator’s powerhouse is the LG Inverter Linear Compressor, which is 32 percent more energy efficient than conventional compressors. This and a range of other efficient features combine to cut the bottom-freezer refrigerator power consumption and give an energy rating of A+++-40 percent. This means that the refrigerator uses 40 percent less power than models with an A+++ energy rating and will make it easier to save on electric bills.

Internally, the refrigerator is also equipped with a range of freshness-enhancing features. Linear Cooling keeps temperature fluctuation within ±0.5˚C while Fresh Balancer and Fresh Converter give users simplified control over the humidity and temperature to create ideal conditions for each food type. 

“LG has long worked to develop a bottom-freezer refrigerator that sets new standards in not just energy savings and durability but also design and the new Centum System bottom-freezer refrigerator represents the culmination of these efforts,” said Song Dae-hyun, president of LG Electronics and Home Appliance and Air Solution Company. “Our premium Centum System bottom-freezer will help cement LG’s long-standing leadership in the global premium refrigerator market.”


Emirates NBD opens branch in Alkhobar

Updated 20 September 2018
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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.