Saudia replaces Apple as top brand among KSA millennials 

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Millennials and non-millennials alike may have been won over by Saudia’s announcement earlier this month to introduce free-of-charge access to social messaging apps. (Courtesy Saudia)
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Updated 24 September 2018

Saudia replaces Apple as top brand among KSA millennials 

  • Facebook falls out of favour among Kingdom’s Youth, YouGov survey finds
  • Technology giant Apple fell to No. 3 in the top 10 brands this year

LONDON: The national airline Saudia has knocked Apple off the top spot as the brand Saudi millennials are most likely to talk about positively with their friends and family, according to a new survey.

Tech giant Apple fell to No. 3 in the top 10 brands this year, while social networking site Facebook failed to even rank at all, according to research compiled by YouGov.

Consumer electronics brand Samsung also saw its popularity decrease, dropping to eighth place this year. 

Brands that saw an improvement in their reputation included the Saudi fast-food chain Al Baik which came in at No. 6, while the real estate group Bin Laden and Saudi beverage brand Almarai made their debut in the top 10, ranking at spot nine and 10 respectively. 

Other drink brands including Aquafina, Fanta, Sprite and Diet Pepsi also saw improvements in their brand perception, the research found. 

The rankings are based on responses collected online from 18 to 34-year-olds over the last year to discover the brands they have discussed positively either in person or online. 

"The top 10 list has a mix of travel and airline brands, consumer brands, financial services and real estate brands. These brands have managed to harness the power of word of mouth and have been successful in shaping a positive brand image,” said Scott Booth, head of YouGov BrandIndex in the Middle East and North Africa. 

Millennials and non-millennials alike may have been won over by Saudia’s announcement earlier this month to introduce free-of-charge access to social messaging apps such as Facebook messenger, WhatsApp and iMessage for onboard guests. 

It is said to be the first airline in Europe, Middle East Africa and Asia to introduce complementary social media messaging on flights, according to a statement issued on Sept. 16.

 

 


Kuwait props up coronavirus-hit economy amid low oil prices

Updated 01 April 2020

Kuwait props up coronavirus-hit economy amid low oil prices

  • Kuwait was first Gulf state to halt passenger flights and impose a partial curfew to stem the spread of coronavirus
  • Kuwait has drawn down on its state fund, the General Reserve Fund, to cover its deficit

KUWAIT: Kuwait announced measures early on Wednesday aimed at shoring up its economy against the coronavirus pandemic, including soft long-term loans from local banks, and the central bank asked banks to ease loan repayments for companies affected.
Kuwait, which as of March 31 had registered 289 coronavirus cases, was the first Gulf state to halt passenger flights and impose a partial curfew to stem the spread of the highly infectious respiratory illness.
The sectors most impacted by the pandemic include aviation, hospitality and real estate, a government source told Reuters.
The stimulus package approved by the cabinet aims to provide liquidity for small- and medium-sized enterprises to meet their obligations, a government spokesman said.
That includes directing government agencies to pay obligations to the private sector as soon as possible.
The central bank separately has asked lenders to postpone loan repayments for three months for companies hit by the crisis, the governor, Mohammad Al-Hashel, said in a television interview posted by the central bank on Twitter.
Kuwait is also dealing with the impact of lower oil prices on its finances that is expected to lead to a higher government fiscal deficit this year.
The government source said that, in light of the oil price fall, passing a debt law allowing Kuwait to borrow more has become a “government priority.”
Kuwait has drawn down on its state fund, the General Reserve Fund, to cover its deficit. The source said the government withdrew 43.8 billion Kuwaiti dinars ($139.70 billion) in the five years until the 2018-2019 fiscal year, and 3.7 billion dinars in the 2019-2020 fiscal year.
This means the fund has around 14 billion dinars ($44.65 billion) left, the source said.
Moody’s this week placed Kuwait’s Aa2 rating on review for a downgrade, citing a “significant” decline in government revenues.
The government spokesman said maintaining Kuwait’s credit rating was one of the goals of the new economic measures.