The Pearl-Qatar, the multi-billion dollar offshore island and one of the largest real estate developments in the country, signed a deal on Tuesday with Arab Jordan Investment Bank Qatar (AJIB) establishing the bank as another mortgage provider for prospective home-owners at the Pearl-Qatar. This latest agreement brings the total number of institutions offering financial services to buyers to three. Commercial Bank of Qatar and Qatar National Bank currently also provide mortgages for buyers at the Pearl-Qatar. “We’re very pleased to welcome AJIB to the team of financial institutions that are working with us and our future home owners,” said Walid Al-Saadi, CEO, UDC. “The Pearl-Qatar is a community where dreams come true and has quickly become a landmark of many achievements in the state of Qatar,” he added. Officials from the AJIB Qatar said the development was of great interest to them as the Pearl-Qatar has been generating much investor interest from around the region due to its superior quality and innovative design. “From day one, we’ve been interested in taking part in the Pearl-Qatar. Today is a realization of our desire to provide financial options to potential home owners and investors,” said Fuad Diab, GM, AJIB.
Sony Ericsson
Two of Sony Ericsson’s most innovative phones, the M600i and the K800i Cyber-shot camera phone, are showcased in the latest James Bond film, Casino Royale, helping Her Majesty’s most lethal secret service agent as he battles through death defying stunts and situations. Consumers now have the chance to look and feel like the ever so suave and dangerous 007 in Casino Royale launched yesterday across the UAE. The James Bond Casino Royale silver K800i phone is a natural fit with the cool, sophisticated style of James Bond — a man who doesn’t do things by half-measures. The stylish pack contains a silver colored Sony Ericsson K800i with free preloaded Casino Royale content, wallpapers, themes, ring-tones, plus an exclusive full video movie trailer. The sleek K800i provides cutting edge camera features, a 3.2 megapixel camera with autofocus, Xenon Flash for lowlight conditions and BestPic, which allows the user to take nine pictures of a moving object simultaneously and choose to keep the best shot.
Toshiba
ABM is taking part in GITEX Dubai as an authorized distributor for Toshiba notebooks in Saudi Arabia for the sixth time in a row. ABM will introduce the latest Toshiba Notebook models and software technology such as entertainment units (Qosmio), which contain the latest HD/DVD software for home, journalists, media, and designers in different fields, in addition to multifunctional home theater. ABM will introduce the latest Toshiba technology in business management through units having important techniques such as protection, light weight and wireless communications and all are at GITEX Dubai prices. Also, ABM will invite a delegation from different business sectors in Saudi Arabia to meet the manufacturers and be exposed to the latest technologies.
ALJ
Over 5,000 of 2007 Camry cars have been sold within a month of their launch by Toyota’s Kingdomwide exclusive dealer Abdul Latif Jameel (ALJ), the company said yesterday. Most of the buyers have been either young individuals or middle income families. The company has stopped selling these cars to taxi operators and car rental companies. The car is being sold only to individuals and private-sector fleets, the company said announcing a program for customers to test-drive the new model in various parts of the Kingdom. Potential customers and members of the public can go to the city’s Sultan Mall and try out the car. Similar programs will be announced soon in Riyadh and the Eastern Province. The previous-generation Camry has been the “best-selling family sedan in Saudi Arabia” over the past five years. The Camry, which is now being manufactured in Australia, was also the top-selling passenger car in the United States in 2005, with 433,703, units rolling out of showrooms, according to MSN Autos. The new Camry is a completely redesigned vehicle, and is offered in the Kingdom with a 2.4-liter four- cylinder engine.
GULF MARKETING FORUM
More than 200 delegates are expected at the 7th Gulf Marketing Forum being held in Dubai during the first week of December. The two-day conference, organized by Gulf Marketing Review (GMR), is themed Generation Next, the Future of Marketing in the Middle East and takes place at the Jumeirah Beach Hotel from Dec. 5-6. The forum brings together a panel of international and regional experts to discuss the key developments and trends that will shape the way companies market their products and services in the future. Keynote speakers include Dr. Scott Galloway and Professor Malcolm McDonald. Elected to the World Economic Forum’s “Global Leaders of Tomorrow,” Galloway is an associate professor at the Stern School of Business (NYU), where he lectures in brand strategy to MBA students. McDonald is chairman of six multinational companies and was previously a professor of marketing and deputy director of the UK’s Cranfield School of Management. Regional experts include Abdullah Al-Jehani, acting DSG for marketing and media, Supreme Commission for Tourism, and Fahd Hamidaddin, director general, Saudi Investment Authority, both from Saudi Arabia.
INVESTCORP
Investcorp Bank BSC (Investcorp) has announced its intention to proceed with an offer of ordinary shares in the form of global depositary receipts (GDRs). It is expected that the global offer will be launched today following the publication of the prospectus. Application will be made for the GDRs to be admitted to the official list of the UK listing authority and to be admitted for trading on the London Stock Exchange’s main market for listed securities under the ticker symbol IVC. Investcorp is a leading provider of alternative investment products for ultra high net worth individuals and institutions principally in the Gulf region. The region is one of the fastest growing wealth markets in the world, with a rapidly increasing interest in alternative investments. Investcorp was founded in 1982, and has a 24-year track record of consistent service and performance.
ARCAPITA
Arcapita Bank, an international investment firm headquartered in Bahrain, said yesterday that Standard & Poor’s has assigned it a BBB/A-2/Stable rating. This rating, which is above the minimum investment grade, is a reflection of the measured growth of the firm over the last nine years, and its commitment to conservative balance sheet management. S&P stated in its analysis of Arcapita, “The ratings reflect Arcapita’s strong profitability, satisfactory capitalization, sound liquidity, and the good diversification of its investment portfolio.” Atif A. Abdulmalik, CEO, Arcapita, said: “This rating is an important achievement for Arcapita which will enable us to significantly expand our funding sources in markets such as Europe, the United States and Asia. It will also allow us to further reduce our financing costs as we continue to grow our business, and we’ll be able to pass on these savings in the results we can deliver for our investors.” Arcapita recently closed its largest transaction to date, the 650 million euros acquisition of Paroc Holding Sverige AB, a leading manufacturer of insulation products based in Finland, and received shareholder approval for the acquisition of Viridian plc, a $4.2 billion electricity company based in Northern Ireland.
NOKIA
Nokia, a global leader in mobile technology, Navicore and NAVTEQ, has announced a joint collaboration to produce mobile navigation abilities for Nokia’s market leading communication devices. “Navicore Personal” will work in close conjunction with Nokia LD-3W GPS receivers, which can be connected to many of Nokia’s handheld devices, and will make use of NAVTEQ’s mapping efforts for the GCC. Among its many features, Navicore Personal is also the first Arabic-speaking navigator for Mobile devices. “Never before has the Arabic market for handset navigation devices been so directly served. Our agreement with Navicore allows us to continue to be at the forefront of mobile technology as well as serve the linguistic needs of the Arabic market,” said Zsolt Menesi, director, Multimedia Experiences, Middle East Africa, Nokia. “Navicore Personal’s navigation application is compatible with over 30 Nokia phones and devices is a further demonstration of Nokia’s commitment toward consumers in this region.”