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MENAFN - Khaleej Times - 26/01/2013

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(MENAFN - Khaleej Times) The total number of trades in the settlement window on DME reached a new record on Wednesday.

2,618 contracts were traded in the window on January 22, 2013 beating the previous high of 2,545, set on November 15, 2012. Settlement window volumes on DME have been growing consistently, bucking the trend of volume declines at other global exchanges.

In 2012, average daily volumes in the settlement window on the Exchange grew by 40 per cent, reaching 1,407 compared with 1,003 in 2011. Volumes of this level mean that more than one and half times the national daily production of Oman is now consistently being traded in a five minute trading window on DME.

Pure Gold plans 75m expansion

Pure Gold Jewellers has announced a 75 million expansion plan for 2013. The company which currently owns over 100 retail outlets in ten countries and more than 40 cities, will open 30 new stores this year in Jordan, Sri Lanka, India, Maldives and Saudi Arabia.

Firoz Merchant, Chairman of Pure Gold Jewellers, said: "2012 was a year of great achievements for us as we entered four new countries " Saudi Arabia, Sri Lanka, Jordan and Maldives, taking our total number of markets to ten. In 2013, we will continue to build on our success and expand further to become a household name internationally.

Our 75 million expansion plan will focus on being present in high population density cities with our modern outlets offering the latest style diamond, gold and other precious jewellery of exceptional value and quality. We will replicate our proven business model of offering the lowest guaranteed prices, lifetime repair, third party certification and excellent exchange policies.

In 2012 we experienced an 18 per cent growth over the previous year and we look forward to an equally successful 2013. We are a Dubai based brand that has expanded beyond the shores, taking our model of customer service perfected here to other countries."

Mashreq starts 24-hour auto financing

Mashreq announced the launch of its auto financing offer with a 24 hours approval convenience and a host of rewards, on Wednesday. Tooran Asif, Head of Personal Banking said: "The Auto loan product is part of our endeavor to continue offering unique financial solutions. Starting at ultra low rates and bundled with other appealing benefits enabling our product to be affordable and customer focused. The UAE's automotive industry is growing and we want to be present to provide financing options as we continue to cater to customer requirements through our array of products and services."

Compiled from staff reports

Mashreq's Auto Loan bundle offers customers with a range of benefits, such as free first-year Platinum Elite Credit Card, free Overdraft facility, free Current Account, competitive insurance rates and Salaam Points that can be instantly redeemed at over 1,000 retail stores across top brands.

With the Platinum Elite Credit Card, customers will receive a range of benefits including Preferential rates with up to 50% discount on greens at exclusive golf clubs in the UAE, complimentary Priority Pass card for access to over 600 airport lounges.

Up to 40% discount on health check-ups and other wellness discounts at over 30 wellness centers. Up to 25% discount on dining at over 500 restaurants in the UAE. Earn 4 Salaam points on every dirham spent locally and 5 Salaam points for every dirham spend internationally.

This is over & above the exclusive DSF promotion currently ongoing which offers Elite customers 8 Salaam points, a chance to win back their daily DSF spend along with opportunity to convert electronics, jewelry and home furnishing spends into 12 month Easy Payment Plan at 0% interest.


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