| | SEPTEMBER 20238IN FOCUSCenomi Retail, Saudi Arabia's preferred brand partner, has established a long-term strategic relationship with Tabby, the Middle East and North Africa's top shopping and financial services app. The agreement is the first of its type between a BNPL player and a Saudi omnichannel shop. It is a significant step in bringing innovative payment alternatives to the Kingdom's consumers.When shopping online from 10 Cenomi Retail businesses, including Decathlon, FNAC, and Alo Yoga, Tabby customers can currently split their purchases into four with no additional expenses. The payment option is also available on the websites of Apple premium reseller Aleph, as well as in all of the Kingdom's in-store locations.Dr Gunther Helm, CEO, Cenomi Retail: "We are delighted to partner with Tabby and bring this service to our consumers. The BNPL innovation has shown to increase average order value by over 30% and helps promote customer loyalty, with industry averages suggesting a repeat purchase rate of more than 40 percent. As we roll out this relationship across our portfolio, we expect to continue to add value to our customer proposition."The BNPL market in Saudi Arabia is expected to see double digit growth in the coming years. With Tabby being a leader in its field, Cenomi can offer consumers access to a strong, seamless platform that provides them greater choice and smarter financial management. It is testament to our focus on digital transformation and enhancing customer experience across our ecosystem and our ambition to become the number one omnichannel platform in the region."TATA STEEL SHAREHOLDERS NOD TV NARENDRAN'S REAPPOINTMENT AS MD & CEOSAUDI BASED CENOMI RETAIL JOIN HANDS WITH TABBY TO DELIVER SEAMLESS PAYMENT SOLUTIONSThe re-appointment of TV Narendran as the global Managing Director and Chief Executive Officer (CEO) for the ensuing five years was approved by Tata Steel Limited shareholders, the business reported in an exchange filing. The resolution to re-appoint Narendran for the following five years was approved by 99.47 percent of all shareholders present at the meeting, the business said.The company earlier last month based on the recommendation of the Nomination and Remuneration Committee said, "The Board considered and unanimously approved the re-appointment of TV Narendran as the Chief Executive Officer and Managing Director of the Company for a further period of five years effective September 19, 2023 through September 18, 2028, not liable to retire by rotation."Narendran is in charge of directing the company's inorganic and organic growth as the CEO and MD of Tata Steel. As soon as the approval is given, Narendran will stay on the board of Tata Steel Limited and continue to lead Tata Steel Europe, Tata Steel Long Products Ltd., and the board of governors at XLRI Jamshedpur.As chairman of Tata Steel Europe, the Supervisory Board of Tata Steel Nederland BV, Tata Steel Long Products Limited, and Neelachal Ispat Nigam Limited, Narendran will also continue in these roles.
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