VOLKSWAGEN

In true democratic style of Volkswagen, and for the first time in automotive history, the name of the Touareg’s soon-to-be-launched little brother, the Tiguan, has been decided by the readers of an international publishing group. Middle East drivers, who have already embraced the Touareg’s unique naming, are set to adopt the Tiguan with equal excitement. More than 350,000 readers of publications from the AutoBild group, from 10 different countries, voted for the name of the new member of the Volkswagen family, due in 2008. “This is another example of people responding to Volkswagen in an emotional way.” said Andres Prinz, MD, Middle East Regional Volkswagen Office, “The Middle East has easily empathized with the distinctive sounding Touareg, and it’s certain that drivers in the region are going to have a similar reaction to the Tiguan, especially as the method of selection was so people-orientated.” added Prinz.

HAWKAMAH

The International Finance Corporation and the Hawkamah Corporate Governance Institute, a subsidiary of the Dubai International Financial Centre Authority, has announced the launch of a regional corporate governance survey as part of their combined efforts to improve standards within companies and banks across the Middle East and North Africa (MENA). The survey is the first project devised by key players in the business community and regulatory entities and will help the region achieve higher standards of corporate governance. International consultants, IAAG Consultoría & Corporate Finance and PKF, will use their considerable corporate governance expertise to ensure the quality implementation of the survey. The Union of Arab Banks will also assist. “We believe that strong corporate governance is a key element of investor confidence and of sound financial markets,” said Hawkamah institute’s Executive Director Dr. Nasser Saidi.

LUFTHANSA

Lufthansa has continued its successful course and reported significantly higher profits for the first six months of 2006. The group lifted operating profits by 44 million euros to 297 million euros. Net profit for the term rose against the break-even result in the first half 2005 to 85 million euros. “Our strategy is working and we’re doing our homework. That is paying off. Our results are fully in line with planning,” Lufthansa Chairman and CEO Wolfgang Mayrhuber said. The second quarter, especially, was highly gratifying for the group. Operating profits in that quarter were up by 93 million euros to 372 million euros. He remains optimistic for the full year and is now expecting the group to improve on the year-earlier results. Last year, the Lufthansa Group returned a profit of 577 million euros. “We can see progress and potential in all our business segments,” Mayrhuber emphasized. It is, however, especially important that good results were achieved in our core passenger business.

GE

GE Healthcare, a unit of General Electric Company has named Isam Moursy as general manager at GE Healthcare for the Middle East, Africa, Central Asia and Turkey (MEACAT) region. The strategic management move is aimed at strengthening the MEACAT market, which is currently experiencing a burgeoning growth in healthcare infrastructure development. From his base in Dubai, Isam Moursy will be responsible for developing and expanding customer relationships and long-term public and private sector partnerships across GE Healthcare’s technology and bioscience offerings. “The MEACAT region has a thriving health care market that currently witnesses significant demographic changes and strong demand on health care infrastructure, technology and expertise,” said Reinaldo Garcia, president and CEO, GE Healthcare International. “Isam Moursy’s objective is to lead the overall GE Healthcare efforts to meet the growing needs of this dynamic region through his extensive knowledge of the marketplace combined with a clear strategy and commitment to our customers.”

MBC4

MBC4 is bringing its audiences the ice cool skating with celebrities featuring some of the most recognized and celebrated names in professional figure skating and a mix of celebrities who span a wide spectrum within the entertainment industry. Hosted by Olympic gold medalist and world champion Scott Hamilton and co-hosted by Olympic gold medalist Summer Sanders, Skating with Celebrities partners six famous personalities with six professional figure skaters to compete for an unprecedented figure skating title. Collectively the participants have won 40 world championship medals and 11 Olympic medals. Over the course of these themed episodes, the celebrities and their professional partners will perform figure skating routines that challenge their athletic and artistic abilities and push them to prepare and perform in ways they’ve never done before. Each episode will test the pairs’ skills as the degree of difficulty increases and they demonstrate whether they can successfully pull off original and challenging skating sequences — or freeze under pressure.

IIB

International Investment Bank (IIB), a globally focused investment bank based in Bahrain, yesterday announced another set of very strong financial results for the first half of the year. For the six-month period ended June 30, the bank’s net profit reached $5.5 million, an increase of 160 percent over the same period last year, reflecting the continued growth of IIB’s business and its ability to effectively develop and offer a diverse range of compelling investment opportunities. Total income almost doubled, reaching $8.48 million for six-month period, compared with $4.31 million in the first half of 2005. In addition, IIB saw considerable gains in its annualized return on capital, which rose to 25.7 percent p.a. versus 9.9 percent p.a. for the same period last year. Similarly, its annualized return on shareholders equity saw a significant increase, more than doubling to 20.6 percent p.a. for the first half of 2006 from 8.4 percent p.a. for the same period in 2005. “We’re very pleased with the bank’s continued strong performance during the first half of 2006,” IIB Chairman Saeed Abdul Jalil Al Fahim said.

SONY ERICSSON

Sony Ericsson takes digital imaging in camera phones to new heights with the release of the K800i - the first handset to carry the Cyber-shot brand, “a true mark of imaging quality.” A highly capable mobile phone with an integrated 3.2 megapixel digital camera featuring Autofocus, Xenon flash and BestPic, “Sony Ericsson’s unique imaging technology” allows users to capture exactly the moment they desire. It combines advanced image capabilities with high-speed data transfer, making it the perfect tool for shooting and sharing high quality pictures and videos. “With the Cyber-shot phone, we aimed to create a new lifestyle of ‘image communication’ by combining Sony Ericsson’s mobile applications and Sony digital imaging technologies,” said Husni El-Assi, GM, Sony Ericsson, MEA. Meanwhile, Sony Ericsson has expanded its growing line-up of Walkman phones with the W300, which is now available bringing mobile music to the Middle East.