Kingdom becomes top remittance contributor to Egypt

Sudhesh Giriyan
Updated 12 June 2016

Kingdom becomes top remittance contributor to Egypt

Saudi Arabia has emerged as the MENA region’s largest overall remitter of funds to other countries around the world and also the number one transmitter of remittances to Egypt within the region, according to April 2016 World Bank figures.
In 2015, the Kingdom sent $7.57 billion in remittances to Egypt through its one million Egyptian residents.
Egyptians in the Kingdom collectively send more money home than those in Kuwait, the UAE and Jordan combined. Remittances from Saudi Arabia to Egypt help alleviate poverty, create opportunities for education and small businesses, and spur investments in the local economy.
According to other World Bank figures published in December 2015, Saudi Arabia is the world’s second most popular destination for migrants after the United States. The country is also the second largest hub for outward remittances to other countries globally.
“Saudi Arabia hosts a large population of expatriate Arabs, largely Egyptians, as well as other nationalities from around the world. The country has historically been the most influential source of remittances within the MENA region due to a booming economy that generates job opportunities for expats from across the world. We expect remittances from Saudi Arabia to other MENA countries like Egypt, and to destinations in Asia, to continue growing year on year,” says Xpress Money’s COO Sudhesh Giriyan.
Xpress Money has renewed its focus on serving customers in Saudi Arabia. The brand has invested in its strong network to extend easy accessibility to customers.


LuLu to fly 12 students from Kingdom to NASA

Updated 23 January 2020

LuLu to fly 12 students from Kingdom to NASA

LuLu, the largest hypermarket chain in the Middle East, awarded a total of 12 young students of different nationalities from Saudi Arabia, India, Philippines, and Egypt, a chance to visit the NASA center in the US.
LuLu’s back-to-school promotion called “Fly to NASA” was held in partnership with Almarai. The hypermarket hosted a competition last September in search of students who are science and space knowledge enthusiasts to experience and visit the NASA center in Huntsville, Alabama.
Shehim Mohammed, LuLu Hypermarket director of Saudi Arabia, said: “We are glad to finally announce the winners of this innovative campaign, which is a first and the most unique among our activations over the years of operating in the region. Thank you to our partner Almarai for joining hands with us in this exciting promotion. This is the first time that LuLu will lead a great opportunity to children who have the high potential to grow and learn more while having fun through science.”
Winners include: Abrez Hussain, Mohammed Ahmed, Rayyan Abdul Aziz, Naif Saad Altwaim, Osama Al-Harbi, Hugh Matthew, Khalid Abdul Aziz, Munther Mohammed Qasim Abujazar, Ahmad Gahwagy, Ahmed Khalaf, Hamza Ladha and Asif Rijo.
“Fly to NASA” winners will get to enjoy and experience a one-week trip, which will include five days of fun and learning at NASA’s Space Camp. The selection process involved two phases — first was the preliminary online registration, while the final stage featured a live quiz to obtain the top 12 winners. Students aged 9 to 18 years were encouraged to register and join the online activation.
With 185 stores operating worldwide, LuLu is the fastest growing retail chain across 10 countries, which include the GCC, India, Egypt, Indonesia, and Malaysia. Founded in the early 1990s, it has successfully expanded to different parts of the world, garnering more than 1,600,000 shopping patrons everyday.
LuLu is one of the favorite shopping destinations in Saudi Arabia, where it offers a broad selection of international products. It is one of the Middle East’s top employers with its workforce numbering to 50,000.