Executive Motoring

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2002

Russia, China eye Porsche deal
Three more potential investors besides the Qatar Investment Authority have expressed interest in the German sports car maker Porsche, Focus magazine has reported, without citing a source for its information. Sovereign wealth funds from Russia and China and an unnamed hedge fund are the possible bidders, the weekly news magazine has said. Porsche is currently only talking to Qatar, the magazine reported.
Qatar: 2 hours, 2 minutes ago

Suzuki expands after-sales in KSA
Suzuki Saudia has opened a fully-equipped service center on Palestine Street, Jeddah, in line with its strategy to to provide after-sales services for the entire line of Suzuki vehicles. Other after-sales services will also be opened in with similar centers in Dammam, Riyadh, Madina and Mecca, in addition to branches in Jubail, Qassim, Tabuk, Taif, Jizan, Khamis Mushayt and Hofuf.
Saudi Arabia: Saturday, July 04 - 2009 at 13:15

Mercedes E-coupe lanuched in Bahrain
Bahrain's Al Haddad Motors has launched the new E-Class Coupé from Mercedes-Benz. The new Coupé will initially be available in two versions, the E350 with a V6 engine producing 272 bhp and a 0-100 km/h time of 6.5 seconds and the V8 engine E500 that pushes out 388 bhp and can reach 100 km/h from zero in 5.3 seconds. The E-Class will be available across the Middle East as an E250 CGI in September and the E200 CGI in March of 2010.
Bahrain: Thursday, July 02 - 2009 at 10:41

Porsche to offer Qatar VW options
Porsche Automobil Holding SE might sell the majority of its options on Volkswagen AG shares to Qatar and divest a smaller stake in itself, Dow Jones Newswires has reported, citing a person familiar with the matter. If successful, Porsche's balance sheet could see a capital increase of around €5bn and additional financial support from Qatar through a credit or guarantees.
Qatar: Thursday, July 02 - 2009 at 10:40

Dubai firm eyes French tyre plant
German automotive supplier Continental AG has said it is interested in a proposal from MAG group, a Dubai-based industrial and property group owned by Syrian millionaire Moafaq al-Gaddah, to buy a French tyre factory in Clairoix that is due to be closed. Continental has said it will send a response in the course of this week, reported Reuters.
United Arab Emirates: Wednesday, July 01 - 2009 at 10:36

Juffali opens new Benz center in Saudi
Juffali Automotive Company, the exclusive dealer for Mercedes-Benz cars in Saudi Arabia, has opened a new integrated center, which includes a Mercedes-Benz cars showroom, workshops and spare parts facilities, at Al-Khobar-Dammam highway in the kingdom's Eastern Region. The new center is in line with Juffali's expansion plans, the company said.
Saudi Arabia: Wednesday, July 01 - 2009 at 10:27

Arabian Automobiles offers 5-year extended warranty
Arabian Automobiles, the exclusive dealer for Nissan, Infiniti and Renault in Dubai and the Northern Emirates, has announced the introduction of Extended Warranty and Guaranteed Asset Protection (GAP) insurance, in association with Dubai Insurance Co., to its customer base in the UAE. The company said it has become the first dealer in the UAE to provide a five-year extended warranty with unlimited mileage. The GAP insurance is designed to protect customers in case of theft or total loss.
Middle East: Wednesday, July 01 - 2009 at 10:26

Qatar makes bid for Porsche
Qatar has made a bid for a stake in Porsche and options that can be converted into VW shares, reported Bloomberg. A Porshe spokesperson said negotiations with the Qatar Investment Authority will focus on a purchase price. A previous offer made by VW wasn't 'feasible' because it would trigger the immediate repayment of a 10.75 billion-euro ($15bn) credit line, the spokesperson said.
Qatar: Tuesday, June 30 - 2009 at 10:40

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