Elite Group Holding Expands Automotive Portfolio with Launch of ART Elite Car Rental - Middle East Business News and Information
Customers can now lease the full Soueast range, including the S06, S06 DM, S07, and S09 — reliable, feature-packed vehicles designed to ease your life that deliver great value without long-term ownership commitments.
Designed with a focus on value, convenience, and peace of mind, ART Elite Car Rental offers a seamless leasing experience tailored for individuals, families, and businesses. This strategic after-sales initiative underlines the Group's commitment to enhancing customer satisfaction across its ecosystem.
The UAE's car rental market is projected to generate over USD 182 million in revenue in 2025 and grow to USD 214.7 million by 2029 (Statista, 2024). The launch of ART Elite Car Rental reflects Elite Group Holding's entry into a growing sector fueled by rising demand, digitalisation, and an evolving customer base.
ART Elite Car Rental simplifies mobility by covering every major cost of ownership. Customers benefit from zero downpayment, free comprehensive insurance, routine service and maintenance, registration, 24/7 roadside assistance, flexible payment plans and easy vehicle replacement. A dedicated team of leasing experts ensures a personalised experience at every touchpoint.
While the service currently offers only Soueast vehicles, Jetour models will be introduced soon as part of the Group's broader rollout. Plans are also underway to expand the offering to other automotive brands and market segments.
To explore leasing options, visit https://artelitecarrental.com/ or call 800-ARTELITE

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


See - Sada Elbalad
9 hours ago
- See - Sada Elbalad
India's Gold Market Remains Resilient Despite Jewelry Slowdown and Slumping Imports
Waleed Farouk Despite a seasonal lull in gold jewelry demand and June gold imports falling to a 14-month low, the Indian gold market continues to hold steady, supported by strong retail earnings and growing investment demand, according to Kavita Chacko, Head of Research at the World Gold Council. In her monthly report, Chacko noted that gold prices lost momentum by the end of June, recording only a marginal month-on-month increase of 0.3%. She explained that prices were initially supported in early June by a weaker US dollar, rising geopolitical tensions, lower US Treasury yields, and positive inflows into gold-backed exchange-traded funds (ETFs). However, a shift in investor sentiment toward riskier assets curbed the precious metal's gains. Gold Shows Strong Performance Year-to-Date Despite Pressures Gold prices have risen by 2% so far in July, fueled by renewed trade tensions, bringing the yellow metal's year-to-date gains in 2025 to 28% in US dollar terms. In the Indian market, gold ended June with a 0.7% monthly increase to ₹95,676 per 10 grams and continued its upward trend in July, rising by another 1% to ₹97,095. Jewelry Demand Slows, While Investment Appetite Grows Despite gold's strong price performance, high prices weighed on jewelry demand. "Jewelry demand declined following the end of the wedding season and the onset of the seasonal lull in June and early July," Chacko stated. "Higher prices also prompted consumers to defer discretionary purchases or shift toward more affordable alternatives such as lightweight, lower-karat, or gemstone-studded jewelry." Old jewelry exchanges also increased as a cost-saving measure, while investment demand for gold bars, coins, and simple chains—seen as semi-investment products due to their lower manufacturing costs—grew significantly, according to market reports. Jewelry Companies Report Profit Growth Despite Lower Volumes Although demand volume remained subdued, jewelry companies reported higher profits in the second quarter of the financial year. Major listed companies recorded annual revenue growth between 18% and 31%, driven by a 32% year-on-year increase in gold prices and seasonal demand during April and May. Gemstone-studded jewelry also gained popularity as a response to high prices, while digital channels and franchise networks expanded significantly. Leading companies opened between two and 19 new stores during the quarter. Gold ETFs Record Second-Highest Inflows Ever June saw a surge in investment demand, with gold ETFs recording net inflows of ₹20.8 billion (approximately USD 242 million)—the second-highest monthly inflow on record—driven by escalating geopolitical tensions in the Middle East. Total assets under management for Indian gold ETFs reached USD 7.5 billion, an 88% year-on-year increase, while holdings rose to 66.7 tonnes, including additions of 2 tonnes in June and 9 tonnes in the first half of 2025—marking the largest H1 increase on record. Investor participation grew sharply, with 280,000 new accounts opened in June alone, up 27% from May and 41% year-on-year, pushing the total number of gold ETF accounts to 7.65 million. This underscores the growing importance of gold as a strategic asset in Indian portfolios. RBI Resumes Gold Buying at Slower Pace On the sovereign front, the Reserve Bank of India resumed gold purchases in June, adding 0.4 tonnes after a three-month pause, bringing official gold reserves to a record high of 880 tonnes. However, RBI's buying pace has slowed significantly in 2025, with only 3.8 tonnes added in the first half of the year—the lowest H1 addition in six years, compared to 37.1 tonnes in H1 2024. This likely reflects a more cautious approach in response to elevated global gold prices. Nonetheless, gold's share in India's total foreign exchange reserves has risen to a record 12.1%, up from 8.7% a year earlier. High Prices Drive Sharp Drop in Imports Elevated prices also triggered a sharp decline in gold imports, which fell to their lowest level in 14 months in June, marking the third consecutive monthly drop. Import values declined to USD 1.8 billion, down 26% year-on-year and 28% month-on-month. Estimated volumes ranged between 19 and 24 tonnes, compared to 31 tonnes in May. Jewelry Demand Likely to Rebound Ahead of Festival Season Chacko expects jewelry demand to rebound starting mid-August with the onset of the festive season. Meanwhile, investment demand is likely to remain strong in the coming weeks, supported by geopolitical uncertainty and rising prices of other asset classes. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Sports Get to Know 2025 WWE Evolution Results News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language


CairoScene
10 hours ago
- CairoScene
Saudi Arabia & UAE Lead MENA in Sustainable Bond Issuance
Saudi Arabia led the MENA region in sustainable debt issuance, accounting for 66 percent of total activity. Total issuance from the Kingdom reached USD 6.25 billion, a 25% year-on-year increase. Saudi Arabia led the Middle East and North Africa (MENA) region in sustainable debt issuance during the first half of 2025, accounting for 66% of total activity, according to Bloomberg's Capital Markets League Tables. Total sustainable bond and sukuk (Islamic bonds) issuance from the Kingdom reached USD 6.25 billion, marking a 25% year-on-year increase. The Saudi government issued USD 1.58 billion, while Al Rajhi Bank issued two sustainable sukuks totalling USD 1.7 billion. Other major contributions came from Saudi Electricity Company (USD 1.25 billion), Alinma Bank (USD 500 million), and Saudi Awwal Bank, which issued an Additional Tier 1 (AT1) sukuk worth USD 650 million. The United Arab Emirates (UAE) followed, contributing 34% of the region's sustainable debt activity with USD 3.22 billion. Key UAE issuance included USD 700 million from the National Central Cooling Company (Tabreed) and USD 500 million from real estate developer Omniyat. Islamic finance instruments dominated the regional market, with total sustainable sukuk issuances reaching USD 6.8 billion, a 17% year-on-year increase. AT1 instruments - which help banks meet capital requirements under the Basel III international regulatory framework - reached USD 3.15 billion, the highest first-half figure recorded in the past five years. The Basel III framework will begin phased implementation in the region from 2026. Despite strong performances from Saudi Arabia and the UAE, overall sustainable bond issuance in MENA declined by 4.4% year-on-year, totalling USD 9.47 billion, compared to USD 9.91 billion during the same period in 2024. The drop was largely due to reduced activity in Egypt and Qatar and the impact of higher global interest rates.


CairoScene
2 days ago
- CairoScene
Saudi Mining Exploration Companies Increase to 134 in 2025
The Kingdom's intensified mining investments are part of a larger bid to diversify its economy and reduce reliance on oil, with 80% of its mineral-rich land still untapped. Saudi Arabia has doubled its mineral exploration investments as it intensifies efforts to unlock an estimated USD 1.3 trillion in untapped mineral resources across the Kingdom. According to Ministry of Industry and Mineral Resources, exploration spending rose from SAR 700 million in 2022 to SAR 1.3 billion in 2025. The move is part of Saudi Arabia's broader Vision 2030 strategy to diversify its economy and reduce dependence on oil. Despite being the largest country in the Middle East, only 20% of Saudi Arabia's mineral-rich land has been explored to date. Authorities are now racing to attract global investors and develop the mining sector into a pillar of the national economy. The Ministry has already issued 2,800 exploration licenses and continues to push for more public-private partnerships to modernise its geological surveys and infrastructure. By amplifying exploration activity, Saudi Arabia aims to become a global hub for metals such as gold, copper, phosphate and rare earth elements.