AI-enabled washing machines are now a reality with the LG 2023 VIVACE
The all-new washing machine brings the best of digital learning to one of the most common home appliances
Dubai, September 26, 2023 – A washing machine is a staple appliance in every home and over the years we have seen the products evolution, be it in terms of features, capacity or design. LG’s new 2023 VIVACE Washing Machine is the pinnacle of that evolution, bringing together large capacities and intelligent features, complete with a beautiful design.
With this new addition to LG’s washing machine range, the brand leverages AI capabilities for a more intelligent approach to washing clothes. The AI Direct Drive Motor uses big data of accumulated washing experience and optimizes the washing motion for an 18% increase in fabric protection. This is done by detecting the weight and softness of the fabric, thereby choosing the most appropriate motions for the fabric. The Inverter Direct Drive Motor (DD) is one of LG’s successful products, which recently exceeded over 100 million units in production. The differentiated motor technology plays a key role in the strong and reliable performance of the brand’s industry leading solutions.
The LG 2023 VIVACE also packs in various hygiene-oriented features, such as the LG Steam technology, which focuses on eliminating up to 99.9% of allergens, including dust mites to protect wearers from allergy or respiratory issues. It also boasts a large drum capacity of 11Kg, without increasing the size of the machine.
In terms of design, the LG 2023 VIVACE is designed to fit in your minimalist aesthetic, with its metallic finish and a more visible display. It also comes with a tempered glass door and a stainless lifter, which contribute further to its durability and hygiene factors. Additionally, the LG 2023 VIVACE is compatible with LG ThinQ technology, opening doors for smart features allowing you to do laundry remotely from your connected smartphone, or even downloading an additional cycle. Thanks to its ThinQ capabilities, the LG 2023 VIVACE can also be connected to Amazon Alexa or Google Assistant, allowing for easy embedding into a preset smart home ecosystem.
Customers can also opt to pair the LG 2023 VIVACE with compatible Twinwash Mini, which is more suited for daily wash and delicate care. The add-on aligns beautifully with the LG 2023 VIVACE’s minimalist design, making it the perfect addition for daily life without disturbing the interior design.
HONEYWELL TO DEMONSTRATE READY NOW TECHNOLOGIES FOR A SUSTAINABLE ENERGY TRANSITION AT ADIPEC 2023
ABU DHABI, United Arab Emirates, September 26, 2023 – Honeywell (Nasdaq: HON) will showcase proven technologies to support the acceleration of a clean energy transition at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), taking place in the UAE capital this October.
Under the patronage of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates, ADIPEC 2023 will bring together global energy and technology leaders with the collective objective of accelerating the decarbonization of the energy sector and the industries it serves.
Held in advance of COP28, which takes place in the UAE later this year, ADIPEC will set the stage for the critical role the energy sector is playing in cross-border climate goals, and will provide a timely showcase of innovative solutions to help meet ambitious climate objectives of nations across the Middle East and around the world.
From its booth (#4150, Hall 4) Honeywell will demonstrate its portfolio of latest technologies that support these goals, alongside a range of workforce excellence and safety systems to help enable a safer, smarter energy sector.
“Honeywell’s focus at this year’s ADIPEC is on how we are making sustainable attainable for the energy sector through technology localization and advancement,” commented Mohammed Mohaisen, president and CEO, Honeywell Middle East and North Africa. “Ahead of COP28, this year’s ADIPEC is a demonstration of the innovation that the energy sector is bringing to the environmental agenda, and a showcase of its responsibility and leadership in global decarbonization efforts. Honeywell is proud to be a leader in such innovation, and we are looking forward to showcasing how our technologies are supporting customers’ climate and broader business objectives at this year’s event.”
Senior Honeywell leaders will be sharing insights and perspectives throughout ADIPEC’s conference program on key issues including digitalization, carbon capture, hydrogen production and refining solutions.
Lucian Boldea, president and CEO, Honeywell Performance Materials and Technologies will present in a panel session at the ADIPEC Strategic Conference on Day 1, on the ever-changing landscape of the downstream industry: demand vs. decarbonization of value chains.
Technologies on show at Honeywell’s booth include:
Digital automation and control: Honeywell’s portfolio of digital solutions including digital twins, cyber insight, intelligent refining and upstream performance suites designed to improve uptime, process performance and efficiency. Through AI-based asset monitoring and predictive analysis, Honeywell has been supporting ADNOC’s digital transformation as part of a 10-year predictive maintenance agreement, to help maximize the uptime, efficiency, predictability, and performance of operations.
Carbon capture, utilization, and storage: Honeywell will showcase innovative carbon capture, utilization and storage (CCUS) technologies for energy production processes as well as other industrial operations.
Hydrogen Production and Transportation: Honeywell will highlight solutions for hydrogen production and transportation, including the role of blue hydrogen as an important bridge solution towards a green hydrogen economy.
Sustainable Aviation Fuel (SAF): Honeywell’s pioneering Ecofining™ technology, which uses animal fats, vegetable oils, waste cooking oil, and other noncompeting feedstock to produce highly efficient biofuels, will be displayed alongside technologies that open alternative and abundant feedstock pathways including biomass, ethanol and even carbon dioxide.
Emissions Management: As a greenhouse gas, methane is about 27-30 times more potent than carbon dioxide. Visitors can learn how Honeywell’s new Emissions Management Suite helps energy companies reduce and report planned and fugitive emissions data by integrating connected detectors, visualizers, flare gas recovery systems and real-time data analytics into a ready-now, end-to-end plant-wide solution.
Workforce excellence and safety: Supporting regional customers’ requirements for local workforce advancement and the highest standards of safety, Honeywell will also showcase a portfolio of workforce training, simulation and connected worker systems including safety wearables, voice systems and portable gas detection, to maximize productivity and safety of field-based operations.
HONEYWELL TO DEMONSTRATE READY NOW TECHNOLOGIES FOR A SUSTAINABLE ENERGY TRANSITION AT ADIPEC 2023
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ABU DHABI, United Arab Emirates, September 26, 2023 – Honeywell (Nasdaq: HON) will showcase proven technologies to support the acceleration of a clean energy transition at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), taking place in the UAE capital this October.
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Under the patronage of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates, ADIPEC 2023 will bring together global energy and technology leaders with the collective objective of accelerating the decarbonization of the energy sector and the industries it serves.
nnnn
Held in advance of COP28, which takes place in the UAE later this year, ADIPEC will set the stage for the critical role the energy sector is playing in cross-border climate goals, and will provide a timely showcase of innovative solutions to help meet ambitious climate objectives of nations across the Middle East and around the world.
nnnn
From its booth (#4150, Hall 4) Honeywell will demonstrate its portfolio of latest technologies that support these goals, alongside a range of workforce excellence and safety systems to help enable a safer, smarter energy sector.
nnnn
“Honeywell’s focus at this year’s ADIPEC is on how we are making sustainable attainable for the energy sector through technology localization and advancement,” commented Mohammed Mohaisen, president and CEO, Honeywell Middle East and North Africa. “Ahead of COP28, this year’s ADIPEC is a demonstration of the innovation that the energy sector is bringing to the environmental agenda, and a showcase of its responsibility and leadership in global decarbonization efforts. Honeywell is proud to be a leader in such innovation, and we are looking forward to showcasing how our technologies are supporting customers’ climate and broader business objectives at this year’s event.”
nnnn
Senior Honeywell leaders will be sharing insights and perspectives throughout ADIPEC’s conference program on key issues including digitalization, carbon capture, hydrogen production and refining solutions.
nnnn
Lucian Boldea, president and CEO, Honeywell Performance Materials and Technologies will present in a panel session at the ADIPEC Strategic Conference on Day 1, on the ever-changing landscape of the downstream industry: demand vs. decarbonization of value chains.
nnnn
Technologies on show at Honeywell’s booth include:
nnnn
Digital automation and control: Honeywell’s portfolio of digital solutions including digital twins, cyber insight, intelligent refining and upstream performance suites designed to improve uptime, process performance and efficiency. Through AI-based asset monitoring and predictive analysis, Honeywell has been supporting ADNOC’s digital transformation as part of a 10-year predictive maintenance agreement, to help maximize the uptime, efficiency, predictability, and performance of operations.
nnnn
Carbon capture, utilization, and storage: Honeywell will showcase innovative carbon capture, utilization and storage (CCUS) technologies for energy production processes as well as other industrial operations.
nnnn
Hydrogen Production and Transportation: Honeywell will highlight solutions for hydrogen production and transportation, including the role of blue hydrogen as an important bridge solution towards a green hydrogen economy.
nnnn
Sustainable Aviation Fuel (SAF): Honeywell’s pioneering Ecofining technology, which uses animal fats, vegetable oils, waste cooking oil, and other noncompeting feedstock to produce highly efficient biofuels, will be displayed alongside technologies that open alternative and abundant feedstock pathways including biomass, ethanol and even carbon dioxide.
nnnn
Emissions Management: As a greenhouse gas, methane is about 27-30 times more potent than carbon dioxide. Visitors can learn how Honeywell’s new Emissions Management Suite helps energy companies reduce and report planned and fugitive emissions data by integrating connected detectors, visualizers, flare gas recovery systems and real-time data analytics into a ready-now, end-to-end plant-wide solution.
nnnn
Workforce excellence and safety: Supporting regional customers’ requirements for local workforce advancement and the highest standards of safety, Honeywell will also showcase a portfolio of workforce training, simulation and connected worker systems including safety wearables, voice systems and portable gas detection, to maximize productivity and safety of field-based operations.
Emirates Park Zoo awarded Gold Standard Accreditation
Abu Dhabi, United Arab Emirates, 26 September 2023 – Emirates Park Zoo become the first zoo in the Middle East to achieve the prestigious accreditation from the Association of Zoos & Aquariums (AZA), marking a significant triumph in the pursuit of excellence and animal welfare.
This milestone accolade positions Emirates Park Zoo as a global leader in the zoo industry, joining an elite group of zoological facilities worldwide that have earned the revered AZA accreditation, often regarded as the Gold Standard in zoo management. The rigorous AZA accreditation process, which takes place every five years, involves comprehensive evaluations across various facets of zoo operations, including animal care and welfare, veterinary programs, conservation initiatives, educational programs, and safety measures.
Dr. Walid Shaaban, Director & CEO of Emirates Park Zoo, expressed his pride in the zoo’s achievement, stating, “I am proud of our team and their dedication to delivering excellence at our zoo. Accreditation standards continuously evolve to ensure we are achieving the highest standard for our animals and their wellbeing. At Emirates Park Zoo, we are proud of the valuable zoo experience we provide for our guests from the breakfast with giraffes to the petting zoo we have enabled animal interactions for everyone, this helps us to achieve our mission to promote appreciation of the natural world, wildlife education, and conservation awareness and through this we can help future generations to work towards saving wild species and spaces from extinction.”
The AZA accreditation is a testament to Emirates Park Zoo’s unwavering dedication to maintaining the highest standards of animal care and well-being. These standards prioritize animal welfare, veterinary programs, conservation efforts, education initiatives, and safety protocols. The inspection team meticulously examines the facility and compiles detailed reports, which are then rigorously evaluated by the Accreditation Commission.
Dr. Walid Shaaban, Director & CEO, further added, “Congratulations to Emirates Park Zoo and Resort for meeting this gold standard in zoo management and care. This accreditation recognizes the dedication of all our team and partners in providing an incredible zoo experience for the UAE community.”
Emirates Park Zoo’s AZA accreditation underscores its commitment to upholding the highest ethical and operational standards in the zoo and aquarium industry. AZA accreditation is the Gold Standard for zoo management and only a selected few zoos and aquariums worldwide have earned this distinction. This achievement reflects the zoo’s dedication to wildlife conservation, education, and fostering an appreciation for the natural world.
-ENDS-
About Emirates Park Zoo: Emirates Park Zoo is a leading zoological facility in Abu Dhabi (UAE) dedicated to the welfare and conservation of wildlife. Situated in a picturesque environment, Emirates Park Zoo provides very unique educational and entertaining experiences for visitors while actively participating in various conservation and educational initiatives.
About the Association of Zoos & Aquariums (AZA): The Association of Zoos & Aquariums (AZA) is a nonprofit organization dedicated to the advancement of zoos and aquariums in the areas of conservation, education, science, and recreation. AZA represents more than 240 facilities across North America and overseas, collectively dedicating their efforts to the preservation of wildlife and the education of the public. AZA-accredited facilities adhere to the highest standards of animal care and welfare.
For media inquiries or further information, please contact Matrix PR:
Emirates Park Zoo awarded Gold Standard Accreditation
Abu Dhabi, United Arab Emirates, 26 September 2023 – Emirates Park Zoo become the first zoo in the Middle East to achieve the prestigious accreditation from the Association of Zoos & Aquariums (AZA), marking a significant triumph in the pursuit of excellence and animal welfare.
This milestone accolade positions Emirates Park Zoo as a global leader in the zoo industry, joining an elite group of zoological facilities worldwide that have earned the revered AZA accreditation, often regarded as the Gold Standard in zoo management. The rigorous AZA accreditation process, which takes place every five years, involves comprehensive evaluations across various facets of zoo operations, including animal care and welfare, veterinary programs, conservation initiatives, educational programs, and safety measures.
Dr. Walid Shaaban, Director & CEO of Emirates Park Zoo, expressed his pride in the zoo’s achievement, stating, “I am proud of our team and their dedication to delivering excellence at our zoo. Accreditation standards continuously evolve to ensure we are achieving the highest standard for our animals and their wellbeing. At Emirates Park Zoo, we are proud of the valuable zoo experience we provide for our guests from the breakfast with giraffes to the petting zoo we have enabled animal interactions for everyone, this helps us to achieve our mission to promote appreciation of the natural world, wildlife education, and conservation awareness and through this we can help future generations to work towards saving wild species and spaces from extinction.”
The AZA accreditation is a testament to Emirates Park Zoo’s unwavering dedication to maintaining the highest standards of animal care and well-being. These standards prioritize animal welfare, veterinary programs, conservation efforts, education initiatives, and safety protocols. The inspection team meticulously examines the facility and compiles detailed reports, which are then rigorously evaluated by the Accreditation Commission.
Dr. Walid Shaaban, Director & CEO, further added, “Congratulations to Emirates Park Zoo and Resort for meeting this gold standard in zoo management and care. This accreditation recognizes the dedication of all our team and partners in providing an incredible zoo experience for the UAE community.”
Emirates Park Zoo’s AZA accreditation underscores its commitment to upholding the highest ethical and operational standards in the zoo and aquarium industry. AZA accreditation is the Gold Standard for zoo management and only a selected few zoos and aquariums worldwide have earned this distinction. This achievement reflects the zoo’s dedication to wildlife conservation, education, and fostering an appreciation for the natural world.
-ENDS-
About Emirates Park Zoo: Emirates Park Zoo is a leading zoological facility in Abu Dhabi (UAE) dedicated to the welfare and conservation of wildlife. Situated in a picturesque environment, Emirates Park Zoo provides very unique educational and entertaining experiences for visitors while actively participating in various conservation and educational initiatives.
About the Association of Zoos & Aquariums (AZA): The Association of Zoos & Aquariums (AZA) is a nonprofit organization dedicated to the advancement of zoos and aquariums in the areas of conservation, education, science, and recreation. AZA represents more than 240 facilities across North America and overseas, collectively dedicating their efforts to the preservation of wildlife and the education of the public. AZA-accredited facilities adhere to the highest standards of animal care and welfare.
For media inquiries or further information, please contact Matrix PR:
ETIHAD AIRWAYS EARNS THIRD CONSECUTIVE FIVE-STAR RATING AT APEX AWARDS
Abu Dhabi, United Arab Emirates – Etihad Airways, the UAE’s national airline, has been rated as a Five-Star Global Airline by the Airline Passenger Experience Association (APEX) for the third consecutive year. The rating recognises the airline’s excellence and was announced on 20 September at the APEX Awards Ceremony in Long Beach, California.
The APEX Five Star Airline Awards were created based on neutral, third-party passenger feedback and insights gathered in partnership with TripIt® from Concur®, the world’s highest-rated travel-organising app. For the 2024 Awards, nearly one million flights were rated by passengers across more than 600 airlines from around the world using a five-star scale. The awards are independently certified by a professional external auditing company.
Commenting on the recognition from APEX, Antonoaldo Neves, Chief Executive Officer, Etihad, said: “Our guests are at the heart of all we do, and we are immensely proud to retain our Five-Star rating for the third year in a row, thanks to their ratings and feedback. We strive to deliver world-class service for our guests, inspired by the traditional Emirati hospitality of our home in Abu Dhabi, and we will continue to push the boundaries of the industry even higher.”
The recognition comes as Etihad prepares to launch three new destinations, with flights to Dusseldorf launching on 28 September, Copenhagen on 29 September and Osaka on 1 October. Additionally, Etihad’s network expansion has included increasing flight frequencies across a number of routes across Europe and Asia making travel even more convenient.
Etihad’s award-winning guest experience offers the highest standards of service and hospitality regardless of the cabin, whether a guest chooses to fly in The Residence, Etihad’s unique three-room suite on the Airbus A380, or in First, Business or Economy cabins across the fleet.
In Business class, guests will experience Etihad’s collaboration with Armani/Casa which features a range of dining and glassware designed with celebrated designer Giorgio Armani. The collection also offers luxurious bedding with a jointly branded blanket, pillow and bolster cushion that unfolds into a mattress topper for Etihad’s fully flat bed.
Recently awarded as Best Economy Class in the Business Traveller Middle East Awards, Etihad Economy’s superior in-flight cuisine is served on unique dining equipment which was designed with sustainability and an elevated guest experience as core priorities. The dining equipment is fully reusable to reduce waste and is produced using a fully-closed loop recycling system which creates a circular economy. The dining ware is embossed with Etihad’s signature style further elevating the guest experience.
ETIHAD AIRWAYS EARNS THIRD CONSECUTIVE FIVE-STAR RATING AT APEX AWARDS
Abu Dhabi, United Arab Emirates – Etihad Airways, the UAE’s national airline, has been rated as a Five-Star Global Airline by the Airline Passenger Experience Association (APEX) for the third consecutive year. The rating recognises the airline’s excellence and was announced on 20 September at the APEX Awards Ceremony in Long Beach, California.
The APEX Five Star Airline Awards were created based on neutral, third-party passenger feedback and insights gathered in partnership with TripIt® from Concur®, the world’s highest-rated travel-organising app. For the 2024 Awards, nearly one million flights were rated by passengers across more than 600 airlines from around the world using a five-star scale. The awards are independently certified by a professional external auditing company.
Commenting on the recognition from APEX, Antonoaldo Neves, Chief Executive Officer, Etihad, said: “Our guests are at the heart of all we do, and we are immensely proud to retain our Five-Star rating for the third year in a row, thanks to their ratings and feedback. We strive to deliver world-class service for our guests, inspired by the traditional Emirati hospitality of our home in Abu Dhabi, and we will continue to push the boundaries of the industry even higher.”
The recognition comes as Etihad prepares to launch three new destinations, with flights to Dusseldorf launching on 28 September, Copenhagen on 29 September and Osaka on 1 October. Additionally, Etihad’s network expansion has included increasing flight frequencies across a number of routes across Europe and Asia making travel even more convenient.
Etihad’s award-winning guest experience offers the highest standards of service and hospitality regardless of the cabin, whether a guest chooses to fly in The Residence, Etihad’s unique three-room suite on the Airbus A380, or in First, Business or Economy cabins across the fleet.
In Business class, guests will experience Etihad’s collaboration with Armani/Casa which features a range of dining and glassware designed with celebrated designer Giorgio Armani. The collection also offers luxurious bedding with a jointly branded blanket, pillow and bolster cushion that unfolds into a mattress topper for Etihad’s fully flat bed.
Recently awarded as Best Economy Class in the Business Traveller Middle East Awards, Etihad Economy’s superior in-flight cuisine is served on unique dining equipment which was designed with sustainability and an elevated guest experience as core priorities. The dining equipment is fully reusable to reduce waste and is produced using a fully-closed loop recycling system which creates a circular economy. The dining ware is embossed with Etihad’s signature style further elevating the guest experience.
LUMI RENTAL COMPANY SUCCESSFULLY LISTS ON THE MAIN MARKET OF THE SAUDI EXCHANGE
Riyadh, Saudi Arabia, 25 September 2023G: Lumi Rental Company (“Lumi” or the “Company”), one of the leading car rental and leasing companies in the Kingdom of Saudi Arabia (the “Kingdom”), has commenced trading on the Main Market of the Saudi Exchange (“Tadawul”) today, following the successful completion of its Initial Public Offering (the “IPO” or the “Offering”). Lumi trades under ticker symbol 4262.
Raising gross proceeds of SAR 1.09 billion, the IPO received exceptionally strong support from both institutional and retail investors. The institutional book-building process was 94.5x oversubscribed and generated an order book of approximately SAR 102.9 billion, while the retail subscription process attracted total demand of approximately SAR 1.25 billion with oversubscription of 11.5x. The Offering priced at the top of its range with a Final Offer Price of SAR 66 per share, implying a market capitalization for the Company of SAR 3.63 billion at the time of listing.
Engineer Mohammed Bin Saleh Al-Khalil, Chairman of Lumi, commented: “Our IPO marks a key milestone in our accelerating journey and another important step in cementing our position as one of the leading market players in the Kingdom, positioned for growth in the land mobility sector. We are pleased to welcome new shareholders to participate in our story, as we remain committed to investing in our future and building on our strong track record to reshape the evolving landscape of our industry.”
Syed Azfar Shakeel, Chief Executive Officer of Lumi, commented: “The very strong retail and institutional demand for our IPO reflects our position as a key player experiencing rapid growth in a sector that is benefitting from powerful macroeconomic and structural tailwinds. As a listed company, we look forward to building on our value creation strategy to drive expansion and growth while generating long-term value for our shareholders. We have every confidence in our ability to deliver on our promises to them.”
Mohammed Sulaiman Al-Rumaih, Chief Executive Officer of Saudi Exchange, commented: “ Our IPO pipeline remains strong as we welcome Lumi Rental Company to the Saudi Exchange’s Main Market. Today’s listing is a reflection of the Kingdom’s growth in the transportation industry. The addition of Lumi to the market offers investors an opportunity to further diversify their portfolio and participate in the development of this dynamic industry. We would like to congratulate the entire Lumi team on this occasion, and we look forward to their growth journey.”
Lumi is one of the leading car rental companies in the Kingdom with a unique and diverse offering, including lease services to Corporate and Government sector clients, car rentals via digital channels and a network of 35 airport and city branches across the Kingdom and used car sales.
The Company has a track record of strong financial results, with very healthy momentum in the first half of 2023G, reporting revenue of SAR 500 million, increasing by 48.6% year-on-year. First-half EBITDA of SAR 271.7 million, with an EBITDA margin of 54.3%, grew by 28.8% on the previous year, while net income increased by 38.8% to SAR 100.0 million with a net income margin of 20.0%.
Lumi is committed to its transformative growth journey and its objectives for future shareholder value creation, as supported by its three-pillar growth strategy. The strategy is based on building a pipeline of future revenue and asset growth through vehicle lease contracts with Corporate and Government clients, achieving scale, adding to growth of operations and profitability as a car rental business and fleet disposal at maximised purchase price recovery.
LUMI RENTAL COMPANY SUCCESSFULLY LISTS ON THE MAIN MARKET OF THE SAUDI EXCHANGE
Riyadh, Saudi Arabia, 25 September 2023G: Lumi Rental Company (“Lumi” or the “Company”), one of the leading car rental and leasing companies in the Kingdom of Saudi Arabia (the “Kingdom”), has commenced trading on the Main Market of the Saudi Exchange (“Tadawul”) today, following the successful completion of its Initial Public Offering (the “IPO” or the “Offering”). Lumi trades under ticker symbol 4262.
Raising gross proceeds of SAR 1.09 billion, the IPO received exceptionally strong support from both institutional and retail investors. The institutional book-building process was 94.5x oversubscribed and generated an order book of approximately SAR 102.9 billion, while the retail subscription process attracted total demand of approximately SAR 1.25 billion with oversubscription of 11.5x. The Offering priced at the top of its range with a Final Offer Price of SAR 66 per share, implying a market capitalization for the Company of SAR 3.63 billion at the time of listing.
Engineer Mohammed Bin Saleh Al-Khalil, Chairman of Lumi, commented: “Our IPO marks a key milestone in our accelerating journey and another important step in cementing our position as one of the leading market players in the Kingdom, positioned for growth in the land mobility sector. We are pleased to welcome new shareholders to participate in our story, as we remain committed to investing in our future and building on our strong track record to reshape the evolving landscape of our industry.”
Syed Azfar Shakeel, Chief Executive Officer of Lumi, commented: “The very strong retail and institutional demand for our IPO reflects our position as a key player experiencing rapid growth in a sector that is benefitting from powerful macroeconomic and structural tailwinds. As a listed company, we look forward to building on our value creation strategy to drive expansion and growth while generating long-term value for our shareholders. We have every confidence in our ability to deliver on our promises to them.”
Mohammed Sulaiman Al-Rumaih, Chief Executive Officer of Saudi Exchange, commented: “ Our IPO pipeline remains strong as we welcome Lumi Rental Company to the Saudi Exchange’s Main Market. Today’s listing is a reflection of the Kingdom’s growth in the transportation industry. The addition of Lumi to the market offers investors an opportunity to further diversify their portfolio and participate in the development of this dynamic industry. We would like to congratulate the entire Lumi team on this occasion, and we look forward to their growth journey.”
Lumi is one of the leading car rental companies in the Kingdom with a unique and diverse offering, including lease services to Corporate and Government sector clients, car rentals via digital channels and a network of 35 airport and city branches across the Kingdom and used car sales.
The Company has a track record of strong financial results, with very healthy momentum in the first half of 2023G, reporting revenue of SAR 500 million, increasing by 48.6% year-on-year. First-half EBITDA of SAR 271.7 million, with an EBITDA margin of 54.3%, grew by 28.8% on the previous year, while net income increased by 38.8% to SAR 100.0 million with a net income margin of 20.0%.
Lumi is committed to its transformative growth journey and its objectives for future shareholder value creation, as supported by its three-pillar growth strategy. The strategy is based on building a pipeline of future revenue and asset growth through vehicle lease contracts with Corporate and Government clients, achieving scale, adding to growth of operations and profitability as a car rental business and fleet disposal at maximised purchase price recovery.
Education Above All Foundation and Silatech Host Series of Events at UNGA calling for children and youth empowerment to accelerate pursuit of SDGs
New York– Education Above All (EAA) Foundation, a leading global education foundation, and Silatech, an international development organisation, hosted four major side events to accelerate the achievement of the Sustainable Development Goals (SDGs), at the 78th United Nations General Assembly (UNGA) in New York.
The events brought together over 400 leaders, experts, youth, and academics, and highlighted the importance of funding education, remote work, climate change education, and AI, in providing marginalised and vulnerable communities around the world with opportunities to improve their lives. Together, these events have made significant contributions to advancing several SDGs in developing countries, including SDG 4 (Quality Education), SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation, and Infrastructure), and SDG 13 (Climate Action).
The events were:
“The Precarious Role of AI in the Effort to Provide Inclusive, Equitable Access to Higher Education for the Most Marginalised”, hosted by EAA Foundation’s Al Fakhoora programme, the Qatar Fund for Development, and the International Institute of Higher Education, 15 September 2023.
Notable speakers included the University of the Andes (Colombia), Rutgers University and Schmidt Futures, and Jeffrey D. Sachs from the Centre for Sustainable Development, Canada. Professor Sachs emphasised that the biggest hurdle to universal education was a lack of funding, and stated: “Education is the paramount investment for society. Listen to Her Highness Sheikha Moza bint Nasser: ‘Education Above All.’ Mean it.”
“Investing in climate change and education for a greener future,” hosted by EAA Foundation’s Reach Out To Asia (ROTA) Programme and Silatech on 16 September 2023.
Speakers included Mr Ahmed Mohammed Al Sada, Assistant Undersecretary for Environmental Affairs, Ministry of Environment and Climate Change, Qatar; Mr Ayman Cherkaaui, Director, Mohammed VI Foundation for Environment Protection Kingdom of Morocco; Mr. Asif Saleh, Executive Director, BRAC; Mr. Birihgton Kaoma, Global Director, SDSN Youth; Ms. Setafnia Giannini, Assistant Director-General for Education UNESCO; Mr. Taha Bawa, Co-founder and CEO, Goodwall; Mr. Kevin Frey, CEO, Generation Unlimited, UNICEF and Ms. Vicky Aridi, Program Manager, Youth Economic Opportunities, 2030.
According to UNICEF’s Frey: “Climate education needs to culminate in young people taking climate action.” He stressed that knowledge should be a catalyst for tangible, youth-driven initiatives in the fight against climate change. This was supported by Mr. Asif Saleh who commented, “In every young leader lies the potential to drive change.”
Outcomes and recommendations from this session included: transparent financing for climate change education; direct funding for local youth groups and green entrepreneurs (ecopreneurs); reduction of costs for technological tools, and public-private-non government-youth partnerships; engaging youth as key stakeholders in decision and policy making related to climate change education; and identifying innovative solutions that recognise local and indigenous knowledge.
“Unlocking Potential: The Power of Remote Work in Economically Empowering Vulnerable Youth”, hosted by Silatech in collaboration with the International Labour Organization (ILO) and the Permanent Mission of Qatar to the United Nations on 17 September 2023.
This High Level Panel advocated for the recognition and mainstreaming of remote work and freelancing as decent work and career innovations.Keynote Speakers included Special Representative of the ILO to the UN, Ms Cynthia Samuel-Olonjuwon, Islamic Solidarity Fund for Development Director General, Dr. Hiba Ahmed, BRAC Executive Director Asif Saleh, Microsoft, Global UN, and International Development Lead, Alexandre Pinho and UNICEF Generation Unlimited Brazil beneficiary Winner Happy de Assis Cajueiro.
The session recommended that remote work be recognised and mainstreamed, and that vulnerable communities should have support to access remote work opportunities, also calling on the private sector to invest in infrastructure and technology to support remote work and put in place online security safeguards.
“Elevating Education as a Win-Win for the SDGs”, by EAA Foundation, at the SDG Pavilion on 19 September 2023.
EAA Foundation’s CEO Fahad Al-Sulaiti unpacked efforts by stakeholders to unlock the potential of young people to thrive in the future world of work and bridge the digital divide using tools to improve learning and increase capacities to navigate the future. Participants included HE David Sengeh, Chief Minister Sierra Leone, Former Minister of Education, SDG4 High-Level Steering & Transforming Education Summit Advisory Committee Co-Chair, Mr. Robert Jenkins, Global Director, Education and Adolescent Development, UNICEF, Dr. Luis Benveniste, Global Director for Education, World Bank, and Dr. Hiba Ahmed, Director General, ISFD, Mr. Marcos Neto, Director of Sustainable Finance Hub, UNDP, and Manos Antoninis, Director of the Global Education Monitoring (GEM) Report, among others.
Roundtable discussants acknowledged EAA Foundation’s contribution and importance and ongoing work supporting education in the developing world. The discussions emphasised the need for innovative solutions in education financing, including through community involvement, private sector partnerships, and exploring new funding sources.
Each event included clear outcomes that the partners will take forward. Follow-up meetings will be held at the WISE Summit, a biennial event fostering innovation in education, to be held in Doha, Qatar, on 28-29 November 2023.
The Education Above All (EAA) Foundation is a global foundation established in 2012 by Her Highness Sheikha Moza bint Nasser. EAA Foundation aims to transform lives through education. We believe that education is the single most effective means of reducing poverty, creating peaceful and just societies, unlocking the full potential of every child and youth, and creating the right conditions to achieve Sustainable Development Goals (SDGs).
Through our multi-sectoral approach, unique financing models, focus on innovation as a tool for social good, and partnerships, we aim to bring hope and real opportunities to the lives of impoverished and marginalised boys and girls.
EAA Foundation is comprised of the following programmes: Educate A Child (EAC), Al Fakhoora, Reach Out To Asia (ROTA), Protect Education in Insecurity and Conflict (PEIC), Innovation Development (ID) and the Together Project.
About Silatech:
Silatech is an international non-profit organisation that connects young people to economic opportunities and career-building jobs through innovative enterprise and employment initiatives. Established in 2008 by Her Highness Sheikha Moza bint Nasser in Qatar, with a goal to enable young people to access work and be active agents in the economic development of their societies.
With a strong dedication to upholding the United Nations’ Sustainable Development Goal 8 (Decent Work and Economic Growth), and through collaborative efforts with local, regional, and international partners, we focus on creating comprehensive and innovative solutions in the field of youth employment and self-employment, ensuring a sustainable and prosperous future for the younger generation worldwide.
technology, which uses animal fats, vegetable oils, waste cooking oil, and other noncompeting feedstock to produce highly efficient biofuels, will be displayed alongside technologies that open alternative and abundant feedstock pathways including biomass, ethanol and even carbon dioxide.
