ADEX approves $150m to finance UAE exports

The committee discussed a number of requests to finance exports during the meeting.
Short Url
Updated 17 March 2020

ADEX approves $150m to finance UAE exports

The Executive Committee of the Abu Dhabi Exports Office (ADEX) approved the allocation of 550 million dirhams ($150 million) to support the strategic expansion of the nation’s export businesses and continued diversification of the UAE economy.
During a meeting, the committee discussed a number of requests to finance exports, as well as reviewed the strategies developed to promote services provided by ADEX locally and globally for the coming period.
Mohammed Saif Al-Suwaidi, director general of Abu Dhabi Fund for Development and chairman of the Executive Committee of ADEX, said: “The committee approved the allocation of 550 million dirhams to facilitate direct loans to foreign buyers as well as lines of credit for international financial institutions exclusively available to importers of goods and services from UAE companies.”
“The ADEX Executive Committee is focused on developing a wide range of innovative financial products and tools that better enable UAE exporters to successfully compete for new business growth opportunities in rapidly expanding emerging markets across Africa, Asia and around the world. Allocating these funds in support of our national export companies represents a major step advancing the ADEX mandate to increase the volume and value of UAE exports and drive sustainable national economic expansion,” said Al-Suwaidi.
In addition to approving the budget allocation, the Executive Committee discussed the operational framework for how to utilize the financial solutions offered by ADEX to support UAE exporters to encourage national companies to increase their share of exports and promote broader UAE economic expansion.
Saeed Al-Dhaheri, ADEX acting director general, said: “ADEX is collaborating with chambers of commerce and economic development departments across the UAE in a unified effort to help national export companies understand how to leverage the power of ADEX to safely and securely expand into strategic international growth markets. We want all UAE exporters and their foreign buyers to know that the UAE stands behind them as a financial catalyst for mutually beneficial business development.”

MYNM launches BMW Mini Countryman in Kingdom

Updated 24 September 2020

MYNM launches BMW Mini Countryman in Kingdom

Mohamed Yousuf Naghi Motors Company (MYNM), the official BMW Group importer in Saudi Arabia, has launched the long-awaited and redefined five-door Mini Countryman.

“The new Mini Countryman is instantly recognizable as the biggest and most versatile member of the Mini model family. Characterized by its formidable performance, agility and personality, the model is perfect for motorists who crave individuality,” the company said. 

The spacious model not only has five fully fledged seats, but features a touchless-opening electric tailgate and a fold-out picnic bench, which is compactly stowed away in the car’s luggage compartment.

From the outside, the model boasts a distinctive silhouette with a
reimagined radiator grille that underlines the Countryman’s powerful design. Adorned with the Union Jack pattern, the rear lights emphasize Mini’s history and its rugged yet contemporary new look.

The Countryman’s interior design includes ergonomically optimized controls for ease of access, which both the driver and the front seat passenger can enjoy, alongside LED lighting that adds a stylish ambiance to the cockpit.

Under the hood, the ALL4 all-wheel drive system provides a noticeable boost in terms of traction, driving stability and agility. Adding to the enhanced engines portfolio, the vehicle achieves a balance between driving fun and fuel consumption. In terms of power, the Mini TwinPower Turbo technology is used on both 3- and 4-cylinder petrol engines, which provides a power range between 100 KW/ 136 hp to 225 KW/ 306 hp. Meanwhile, the Mini Cooper Countryman ALL4 also features an 8-speed Steptronic transmission.

Mark Notkin, BMW Group  managing director at MYNM, said: “As one of our most versatile models, the Mini Countryman has always been the ideal car for our most daring buyers. Defined by its supreme mobility, the Mini Countryman can take on any terrain, whether it be city streets or more rugged paths.

“As the presence of the Mini Countryman grows in the region, we are confident that this launch will prove valuable among customers who are looking for adventure-level performance in the compact segment.”