A French business team visited the Islamic Corporation for the Development of the Private Sector (ICD) headquarters in Jeddah on Wednesday. ICD CEO & GM Dr. Ali Soliman and other officials received the delegation and gave a presentation focusing on the corporation’s operations in various regions and potential for facilitating French companies and investors to reach the private sector in member countries. The objective of the delegation, which represented French financial institutions including Paris-based Euronext regional stock exchange, commercial and investment bankers, fund managers and lawyers, was to highlight the quality of French assets, investment management and regulatory environment, and potential cooperation between French institutions and IDB/ICD.
DBS BANK
DBS Bank, the largest bank in Singapore and fifth largest banking group in Hong Kong, announced on Sunday that it received approval from the Dubai Financial Services Authority (DFSA) to open its first branch at the Dubai International Financial Centre (DIFC). It is among the first few Asia-based banks and the first Singapore-based bank to receive a banking license in Dubai. DBS Bank is currently operating out of the DIFC’s Business Center and is expected to open its flagship branch within the DIFC in May. “Dubai is fast establishing itself as an important market for the international banking industry, and we are delighted to have received this license from the DFSA,” DBS Bank’s Dubai branch General Manager John Baggerman said.
AXIOM TELECOM
The launch of the new Sony Ericsson W810i phone exclusively through Axiom Telecom is set to kick-start rapid growth in the mobile music industry, according to Axiom CEO Faisal Al Bannai. The new handset offers a professional mobile music experience, a high quality camera and a fully featured mobile phone in one device. Axiom Telecom forecasts triple digit growth in sales of mobile phones with music functionality over the next 12 months. “This state-of-the-art phone is at the forefront of the ‘mobile music’ experience and is a driving force behind the digitally converged consumer market. I predict 2006 will truly be the year of converged music, imaging and telephony devices across the whole region.” The new handset and accessories are available with Axiom Telecom.
H&K
Reputations of corporations and leadership ability rank high in importance to financial analysts who rate companies and issue opinions, according to a major global survey of this influential group. “Return on Reputation”, the latest in the Hill & Knowlton (H&K) series of “Corporate reputation watch” studies, was conducted with public opinion research firm MORI, which surveyed financial analysts around the world on reputation and its impact on this group’s opinions and the way in which they rated companies. “According to H&K’s study, analysts around the world are united in agreement that reputation has a direct correlation to a return on shareholder value,” said Judi Frost Mackey, SVP and Director of the H&K US Corporate and Financial Practice.
TATWEER
Sharjah Tatweer Forum (STF), an initiative launched to boost the involvement and influence of Sharjah’s young talents for encouraging competitiveness in the public and private sectors, hosted a workshop recently highlighting the role of innovation and creativity to an emerging pool of young talents. The event, conducted by Khalfan Al-Esry from Prosper Oman, was held at the Sharjah Golf and shooting Club in the presence of several dignitaries from Sharjah as well as existing and potential Tatweer members. “This workshop is a comprehensive platform that aims to attract innovative and creative ideas from all its members,” Al-Esry said. “The event is an initiative launched to influence the creative minds of young people of Sharjah,” said Tatweer Chairman Hussain Al-Mahmoudi.
FEDEX
FedEx Corporation has reported earnings of $1.38 per diluted share for the third quarter ended Feb. 28, compared to $1.03 per diluted share a year ago, a year-over-year increase of 34 percent. FedEx reported the following consolidated results for Q3: Revenue of $8 billion, up 9 percent from $7.34 billion the previous year, operating income of $713 million, up 29 percent from $552 million a year ago, operating margin of 8.9 percent, up from last year’s 7.5 percent, net income of $428 million, up 35 percent from $317 million the previous year. “FedEx continues to deliver strong results by providing outstanding customer service and by executing the strategy of balancing volume and revenue growth with cost containment,” said FedEx Corporation Chairman & CEO Frederick W. Smith.
GIORDANO
Sporty boys and stylish young girls can now go in for the new spring look from Giordano Junior. Very urban and trendy, the season’s collection boasts of a wide range of personality denims, T-shirts and skirts in bright, cheerful colors like baby blue, pink and lemongrass. The range also has colorful accessories including polo caps for boys as well as bucket and French terry hats for girls. “Spring is all about sports and fun and our new collection reflects the excitement and colors of the season. The clothes are very trendy and wearable and the fabric is comfortable, giving a cool, casual feeling,” said Giordano Junior’s Brand Manager Zubair Patel. Embellishments and prints dominate the girls’ collection this season. Boys can look out for fabulous, hip skater shorts this spring.
TAMEER HOLDING
Abu Dhabi plays center stage at the Arabian Properties Exhibition 2006, currently being held with a conference. The event began on Sunday and ends on Wednesday at the Abu Dhabi International Exhibition & Conference Center. Organized by Abu Dhabi National Exhibitions Company, the fair features the region’s real estate developer Tameer Holding, as it showcases its groundbreaking projects from across the UAE. “This is undoubtedly a very high profile event, which is why Tameer is taking this opportunity to show the rest of the Emirates and the world, precisely what we’re doing across the UAE.” Tameer Holding’s CEO Ali Al-Khudairi said. On show at the exhibition is Tameer’s new signature development, the AED 30 billion Umm Al Quwain based project AlSalam City.
MOBILY
Etihad Etisalat Mobily, the second mobile service in Saudi Arabia, opened its first full-service women’s branch in the Western Province on Wednesday. Mobily Jawahrah Center is a 2,000 square meter showroom located on Tahlia Street at the Al-Haddab Shopping Center. It provides women with the complete Mobily services of issuing and activating chips, bill payment and other services as well as mobile phones and services by Axiom. A group of 15 well-trained Saudi women including Mobily sales representatives, Axiom representative, a receptionist and a supervisor are working at the center. “The presence of a place specially for women at any ministry or institution is an encouraging factor for women to conduct their business in comfort and privacy,” said CEO Khalid Al-Kaf.