Smart Mobility, IM Motors to expand business in UAE, Saudi Arabia
The agreement marks IM Motors' entry into the GCC market, starting with the UAE and with plans to expand into Saudi Arabia later this year, according to a press release.
This partnership aligns with the UAE's national EV goals, which aim for 50% of all vehicles on the road to be electric by 2050.
Moutaz Louis, CEO of Smart Mobility International, commented: "As the exclusive distributor of IM Motors in the UAE and Saudi Arabia, we're not just launching a new brand - we're shaping a future defined by intelligent mobility, premium performance, and a deep commitment to sustainability."
The IM LS7 will be available first in its Battery Electric Vehicle (BEV) version, with a range-extended model to follow.
Additional models, including the IM L7 sedan and IM LS6 SUV, will launch later in 2025 in both BEV and Range-Extended Electric Vehicle (REEV) variants, increasing the portfolio of premium EVs available to consumers in the region.
Source: Mubasher
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Tourism Breaking News
an hour ago
- Tourism Breaking News
Emirates lands in Hangzhou, expanding its Chinese mainland network to five gateways
Post Views: 16 Emirates has officially launched its new daily service to Hangzhou, marking its fifth gateway in the Chinese mainland and the second new destination added in under a month, following Shenzhen. Adnan Kazim, Emirates' Deputy President and Chief Commercial Officer, commented on the launch: 'China has become one of the world's leading aviation markets, and Emirates is proud to have played a role in its development. Adding two new gateways within just one month is a major milestone that underscores our deepening commitment to the Chinese mainland. This expansion also demonstrates the strong momentum our East and Southeast Asia growth strategy has gained over the past year. With rising demand, we're optimistic our global network will continue connecting people, businesses, and economies across Asia and beyond. Emirates remains committed to delivering seamless, reliable connectivity between this dynamic region and the world. We extend our sincere appreciation to the Civil Aviation Administration of China, Hangzhou Xiaoshan International Airport, and all our local partners for their invaluable support in enabling the successful start of this route.' Flight EK310 landed at Hangzhou Xiaoshan International Airport on 30 July to a warm welcome from local dignitaries, airport officials, and a ceremonial water cannon salute. Passengers on the inaugural flight from Dubai were treated to commemorative keepsakes including keychains, certificates, and Chinese tea tasting sets to mark the occasion. The inaugural flight carried passengers from across Emirates' global network, including key markets like the UAE, Nigeria, Italy, Spain, Saudi Arabia and Brazil, as well as a VIP delegation led by Emirates' senior management, and members of the international media. Operated by an Emirates Boeing 777-300ER, flight EK310 departs Dubai at 0940hrs and arrives in Hangzhou at 2200hrs. The return flight, EK311, departs Hangzhou at 0010hrs, landing in Dubai at 04:55hrs.* Emirates' conveniently timed service offers optimal connectivity for customers from 40 destinations in Europe, 21 in Africa, 13 in the Middle East as well as Brazil and Argentina, to Hangzhou via Dubai. The airline also offers convenient two-way connections from Hangzhou to key cities including Istanbul, Barcelona, Cairo and Johannesburg via Dubai. Emirates now operates 49 weekly flights to five major Chinese cities: Beijing, Shanghai, Guangzhou, Shenzhen, and Hangzhou. The airline has also introduced its signature complimentary chauffeur-drive service for First and Business Class passengers in Hangzhou, extending its luxury offering to over 70 global cities, including Beijing, Shanghai, London, Paris, Dubai, and Milan. Eligible passengers can now enjoy exclusive, complimentary transfers within an 80-kilometre radius of Hangzhou Xiaoshan International Airport, served by Mercedes-Benz E-Class vehicles. ** With the addition of Hangzhou to its growing Chinese mainland network, Emirates is building a powerful air corridor for trade, tourism, and digital exchanges between China and the Middle East, as well as beyond. The new route will further open new opportunities for Chinese brands to reach global audience while offering customers from across Emirates' global network better access to this powerful tech hub. On the Dubai–Hangzhou route, Emirates operates a Boeing 777-300ER, featuring 8 First Class suites, 42 Business Class seats, and 304 Economy Class seats. Passengers can enjoy Emirates' award-winning ice entertainment system, offering over 6,500 channels in more than 40 languages, including Chinese. The onboard experience is rounded off with regionally inspired menus incorporating a variety of popular Chinese dishes and desserts. Through interline and codeshare agreements with China Southern Airlines, Air China and Sichuan Airlines, Emirates provides enhanced connectivity to destinations beyond its own network across China. Beyond air services, Emirates is also committed to supporting the development of China's tourism sector and has established meaningful partnerships across various fronts. Last year, the airline signed a Memorandum of Understanding (MoU) with the UAE China Cultural Centre to jointly promote China as a key destination across the airline's global network. Travelers from the UAE and other GCC countries can visit China visa-free for up to 30 days, making both business and leisure travel to the Chinese mainland even more convenient. * Emirates summer schedule. All times are local. ** Terms and conditions apply.


Zawya
an hour ago
- Zawya
Oman makes steady progress across key listed sectors
The first half of 2025 delivered strong performance across Oman's key listed sectors, continuing the positive trajectory from 2024. The financial sector demonstrated robust growth driven by resilient banking results and increased lending volumes, with most major banks reporting double-digit profit increases. The industrial sector exhibited commendable resilience with significant gains in construction and stable manufacturing performance, despite some companies facing cost pressures. The energy sector showed mixed results, with Sohar Power's return to production offset by lower revenue at SMN Power, following new PPA and WPA agreements. Meanwhile, the oil and gas segment faced challenges from global market volatility despite some companies achieving significant growth, while the tourism sector showed modest gains but continued to struggle with market competition and oversupply. The financial sector in Oman demonstrated robust growth throughout the first half of 2025, primarily driven by the strong performance of the banking industry and increased lending volumes. Bank Muscat maintained its leadership, posting a 12% profit increase to RO 126 million. In contrast, Sohar International was the only bank to record a decline, with profits falling 8% below the same period last year to RO 46 million, indicating challenges from increased operational costs and impairment provisions. Meanwhile, the other listed banks reported net profit increases ranging from 10% to 15%. The insurance sector experienced a strong recovery, notably led by Liva Group, which recorded a profit of RO 9m compared to a RO 16 million loss, following the 2024 insurance losses from storms in the UAE. Takaful Oman also achieved a significant recovery, turning a prior loss of RO 102k into a profit of RO 1.2 million. Leasing companies sustained modest but reliable progress in profitability. The industrial sector demonstrated commendable resilience compared to the previous year, with notable growth primarily driven by the construction segment. Raysut Cement, despite ongoing challenges and fair value losses on assets, made progress in mitigating financial losses, narrowing its loss to RO 2.9 million from RO 4.6 million. In contrast, Jazeera Steel saw a significant 60% surge in profit, reaching RO 4 million, propelled by increased demand for steel products. Within the manufacturing subsector, performance remained stable. Dhofar Foods and Investments achieved a remarkable turnaround, posting a profit of RO 239k after a loss of RO 1.5 million in the prior year. Similarly, Oman Refreshments successfully reversed its previous year's loss of RO 1.4 million, achieving a profitability of RO 1.1 million due to increased revenue. Voltamp Energy experienced a substantial increase in profit, rising to RO 6.7 million from RO 2 million, reflecting its strong market position in energy equipment manufacturing. Oman Cables and Oman Flour Mills continued to achieve high profitability, reinforcing their vital role in strengthening the manufacturing sector's resilience and growth. The service sector, encompassing energy, oil and gas, tourism, and diversified industries, recorded an overall gain of 4% in the first half of 2025. 2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (


Arabian Post
an hour ago
- Arabian Post
China's Manufacturing Struggles Amid Declining Exports
Factory activity in China showed unexpected signs of contraction in July, signalling deeper challenges for the world's second-largest economy. This downturn comes despite a partial thaw in trade tensions with the US, with early data indicating a slowdown in exports and continued weakness in domestic demand. The Purchasing Managers' Index for July, a key indicator of factory activity, dropped below expectations, highlighting a downturn in production and new orders. Official data indicated that the PMI for manufacturing fell to 49.3, dipping below the critical 50-point mark that separates expansion from contraction. This marks a stark contrast to the optimism that initially followed trade negotiations between the US and China. The Chinese economy has been grappling with several systemic issues, including ongoing structural imbalances and shifts in consumer behaviour. Economic experts attribute the stagnation in factory activity not only to the global economic uncertainty but also to persistent domestic challenges. While the export sector has been a critical driver of China's growth in the past decades, the country's trade surplus has been narrowing as demand for its goods slows down in key markets like the US and Europe. ADVERTISEMENT China's trade relationship with the US, although stabilised, still faces a challenging landscape. A shift in global trade patterns, exacerbated by geopolitical tensions and the lingering effects of the pandemic, has taken a toll on China's manufacturing sector. Exports of major products such as electronics and textiles have begun to show signs of slowing, even as Beijing has attempted to bolster its trade position through policy adjustments. Compounding the issue, domestic demand has failed to pick up the slack. Despite various government efforts to stimulate spending, consumer confidence remains low, particularly in sectors like retail and real estate. The country's efforts to transition from an export-driven economy to one more reliant on domestic consumption have yet to show significant results, and the reliance on government spending for growth is becoming increasingly evident. The weakness in the manufacturing sector is linked to a sharp decline in the production of industrial goods, which has directly impacted job creation. Although the government has taken steps to mitigate the effects of unemployment by investing in infrastructure and green technologies, these efforts have yet to yield the desired economic recovery in the short term. Economists are increasingly concerned that without more comprehensive structural reforms, China may continue to face these economic headwinds. Some analysts suggest that more aggressive monetary policies or fiscal stimulus could be required to stabilise the economy. The People's Bank of China has already hinted at such moves, potentially lowering interest rates further to spur investment and consumer spending. However, the global economic context remains challenging. Countries that traditionally rely on Chinese exports are also facing downturns, which could further dampen demand. Additionally, as global inflation continues to impact the purchasing power of consumers worldwide, the potential for China's manufacturing recovery to take hold seems uncertain.