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Swiss MGI Group Gives Training Course for Al-Ghazali Employees in Jeddah

Swiss MGI Group Gives Training Course for Al-Ghazali Employees in Jeddah
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Swiss MGI Group Gives Training Course for Al-Ghazali Employees in Jeddah

Swiss MGI Group Gives Training Course for Al-Ghazali Employees in Jeddah

Sponsored by Executive Manager of Al Ghazali Trading Company Abdul Latif Bin Mohammed Al Abdullatif, and Regional Sales Director MENA & Sub Continent India of MGI Abdullah Muafaq, the Swiss MGI Group organized a training course for the employees of Al Ghazali Trade attended by a number of vendors and officials of branches and maintenance centers.

Al Ghazali Trade is the official representative of “Ebel” and “Concord” watches in Saudi Arabia.

During the training course, Muafaq reviewed the latest “Ebel” and “Concord” watches which will soon launch at the Basel Exhibition 2018 in late March.

He also gave a detailed presentation of the new high-quality products covering groups of all ages and fitting gender tastes, which will be an important addition to the world of elegant watches.

Muafaq praised the level of Al Ghazali Exhibitions regarding the beauty of their decorations, and the uniqueness of the commercial centers the company chooses for them. He also praised the company’s leading role in increasing “Ebel” and “Concord” watches’ sales in the Saudi market and improving after-sale services.

“We are keen on bringing our latest models in the Saudi market as soon as they are viewed in Basel due to its particular importance for us,” Muafaq said on the significance of the Saudi market.

Muafaq complimented the Al Ghazali Trade efforts aiming to increase and support “Ebel” and “Concord” watches’ sales in the Saudi market.

“We in MGI Group thank you for the dedicated partnership between us. And we look forward to continuing and supporting this partnership,” he said.

Al Ghazali’s executive director welcomed Muafaq saying: “We share a renown partnership with this prestigious company that extends for many years.

“Thanks to the united efforts with MGI group, “Ebel” and “Concord” watches’ sales have recently witnessed a considerable growth. Mainly because of their modern designs that combine nobility, authenticity, precision and accuracy. As well as the after-sale services they provide through specialized maintenance centers.”

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Oil Slips as Investors Eye Trump Move on Russian Export Curbs

FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo
FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo
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Oil Slips as Investors Eye Trump Move on Russian Export Curbs

FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo
FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo

Oil prices fell on Monday as expectations of US President-elect Donald Trump relaxing curbs on Russia's energy sector in exchange for a deal to end the Ukraine war offset concern of supply disruption from harsher sanctions.
Brent crude futures dropped 16 cents, or 0.2%, to $80.63 a barrel by 0453 GMT after closing down 0.62% in the previous session.
The more active US West Texas Intermediate crude April contract fell 6 cents to $77.33 a barrel. The front-month contract, which expires on Tuesday, was at $78.03 a barrel, up 15 cents, or 0.19%, after settling down 1.02% on Friday.
Trump, who will be inaugurated later on Monday, is widely expected to make a flurry of policy announcements in the first hours of his second term, including an end to a moratorium on US liquefied natural gas export licences - part of a wider strategy to strengthen the economy.
"There is a fair amount of uncertainty across markets coming into this week given the inauguration of President Trump and the raft of executive orders he reportedly is planning to sign," ING analysts said in a note.
"This combined with it being a US holiday today, means that some market participants may have decided to take some risk off the table."
Both contracts gained more than 1% last week in their fourth successive weekly ascent after the Biden administration sanctioned more than 100 tankers and two Russian oil producers. That led to a scramble by top buyers China and India for prompt oil cargo and a rush for ship supply as dealers of Russian and Iranian oil sought unsanctioned tankers to ferry their load.
While the new sanctions could impact the supply of nearly 1 million barrels per day of oil from Russia, recent price gains could be short lived depending on Trump action, ANZ analysts said in a client note.
Trump has promised to help end the Russia-Ukraine war quickly, which could involve relaxing some curbs to enable an accord, they said.
Analyst Tim Evans said the new sanctions are seen curtailing supply, at least in the near term.
"Higher tanker rates on unencumbered vessels and a widening backwardation in crude oil calendar spreads have been among the notable ripple effects, reinforcing the concern over supplies," he said in his newsletter Evans on Energy.
Backwardation refers to prompt prices being higher than those in future months, indicating tight supply.
The prompt Brent monthly spread <LCOc1-LCOc2> widened in backwardation by 5 cents to $1.27 a barrel on Monday. The WTI spread <CLc1-CLc2> was at 63 cents a barrel, up 14 cents.
Easing tension in the Middle East also kept a lid on oil prices.
Hamas and Israel exchanged hostages and prisoners on Sunday that marked the first day of a ceasefire after 15 months of war.
Separately, investors are watching out for the impact from a cold snap in Texas and New Mexico which may affect US oil production, analysts at ANZ and ING said.