EIB Allocates $482m to Back Moroccan Firms

The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal
The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal
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EIB Allocates $482m to Back Moroccan Firms

The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal
The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal

The European Investment Bank (EIB) Group has allocated USD482 million (EUR440 million) to back Moroccan firms in combating the novel global virus impact on liquidity.

Emma Navarro, vice-president of the bank, said in a press conference in Brussels that the EIB will mobilize existing lines of credit, whose outstanding amount to date is 440 million euros, to provide the necessary working capital to businesses.

She added that her institution has contacted, since the beginning of the crisis, its clients, both business leaders and project holders, to offer them its support during this very difficult period.

“We are relaxing our procedures. We are trying to adapt our tools and means of financing as best we can,” Navarro continued.

The EIB also stands ready to support the health system, in particular through the acquisition of medical equipment and the strengthening of health infrastructure, said Navarro, recalling that the Bank is already active in this area in Morocco, notably by financing the construction and modernization of 16 hospitals throughout the Kingdom.

“The partnership that binds us to Morocco is very strong, that is why this country will have our full attention for the duration of this pandemic in order to give it all the necessary support,” she affirmed.



Apple Expands its Presence in Saudi Arabia with Launch of Arabic Online Store  

A concept image of the Apple Store. (Asharq Al-Awsat)
A concept image of the Apple Store. (Asharq Al-Awsat)
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Apple Expands its Presence in Saudi Arabia with Launch of Arabic Online Store  

A concept image of the Apple Store. (Asharq Al-Awsat)
A concept image of the Apple Store. (Asharq Al-Awsat)

Apple has officially launched its online store in Arabic for customers in Saudi Arabia, marking a significant step in the company’s expansion strategy for the region. The move also aligns with its plans to open a physical retail store in the Kingdom as part of a broader effort to deepen its regional presence.

According to Deirdre O’Brien, Senior Vice President of Retail and People at Apple, this step reflects the company’s growing commitment to Saudi Arabia and its rapidly expanding customer base.

The Arabic-language store is now accessible through Apple’s website and via the Apple Store app on smart devices.

In an interview with Asharq Al-Awsat, O’Brien expressed strong enthusiasm about bringing the Apple retail experience to Saudi Arabia. She emphasized the company’s longstanding presence in the Kingdom and noted that Saudi customers are deeply passionate about Apple products. This launch, she said, will help strengthen Apple’s direct relationship with communities across the country.

She also explained that both the online store and the upcoming physical location are part of Apple’s broader strategy in the Middle East. The company already operates several retail locations in the United Arab Emirates and continues to see strong demand for its products across the Gulf.

Investing in local economy

When asked about Apple’s investment in the Saudi economy, O’Brien pointed to initiatives such as the Apple Developer Academy, which is focused on nurturing and empowering local talent.

She described the company’s investment as one that aims to inspire individuals and support creativity. By combining Apple’s technology with passionate communities, she said, remarkable things can be achieved.

Apple has tailored the online store to meet the specific needs of Saudi customers. Features include live chat with Apple specialists in Arabic, customizable product options for devices like Mac and Apple Watch, and the ability to engrave AirPods and other accessories in Arabic or with emojis.

O’Brien highlighted the importance of making the full Apple experience accessible to customers in Saudi Arabia both online and in-store. She also noted that Apple offers device trade-in programs to accommodate users from different segments.

With e-commerce on the rise in Saudi Arabia, Apple is aiming to deliver a seamless shopping journey that blends both digital and physical experiences. O’Brien stated that Apple’s retail model has been designed to reflect modern shopping behavior, where customers move easily between online and in-store interactions. Whether a purchase begins online and ends in a store, or vice versa, Apple aims to provide consistent, high-quality support throughout.

Landmark store in Riyadh

Apple’s first physical store in Saudi Arabia is set to open in Diriyah, a UNESCO World Heritage site and a prominent cultural destination in Riyadh.

O’Brien described Diriyah as a unique and special location. She said Apple is committed to ensuring each of its stores reflects the local identity and culture, and that the new store in Saudi Arabia will be no exception.

She encouraged local customers to visit once the store opens, expressing confidence that the experience will be both unique and memorable.

Retail services

Apple is continuing to strengthen its presence in Saudi Arabia by focusing on innovation, engaging more closely with the local community, and delivering a retail experience designed to support and serve users throughout the Kingdom.

The new Arabic online store allows Saudi customers to browse and purchase Apple’s full product lineup. The experience is personalized, offering product recommendations based on the customer’s current devices. Customers can also compare models, access saved items, and track orders directly through the app.

For the first time, Apple is offering free consultations in Arabic and English through the Saudi store website. These sessions allow users to personalize products like AirPods, Apple Pencil, and AirTag with Arabic or English text and numbers, enhancing the individuality of each device.

Apple’s retail offering also includes pre-purchase support through chat and phone to help users find the best product for their needs. Post-purchase, the company provides services like personalized setup, secure data transfer for those switching to iOS, and eSIM activation.

As part of its long-term strategy, Apple has announced plans to open its first flagship retail store in Saudi Arabia by 2026. This store will be the first in a broader rollout of retail locations across the Kingdom.