SGHG

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is supporting the Middle East and North Africa’s health care industry by financing the expansion of the Saudi German Hospitals Group (SGHG). IFC will provide a $37 million financing to support a new hospital in Sanaa and the construction of a hospital in Cairo. SGHG has been a major participant in Saudi Arabia’s health care sector since 1988, and it owns and operates five hospitals. The 300-bed, multi-specialty hospital in Sanaa, which opened in June 2006, and a hospital of similar size under construction in Cairo will raise considerably the standard of medical care in both countries. IFC’s Health and Education Director Guy Ellena said: “IFC is very happy to support the SGHG in a project that will provide a benchmark of excellence and raise the standards of health care in Egypt and Yemen.”

DEYAAR

Deyaar, a 100 percent subsidiary of Dubai Islamic Bank and the region’s fastest growing real estate company, yesterday announced its strategic foray into Saudi Arabia’s burgeoning property sector. It also reported exceptional financial results for 2006 with net profit rising 192 percent to AED412 million as compared to AED142 million in the previous year. Sales stood at AED3.2 billion in 2006 from AED 1.7 billion last year. During 2006, Deyaar’s asset base increased to AED3 billion from AED1 billion in the previous year. Its year-on-year return on capital rose to 41 percent in 2006 from 28 percent in 2005. Dr. Mohammed Khalfan ibn Kharbash, Deyaar chairman and UAE Minister of State for Finance and Industry, said: “Today, Deyaar has the single largest portfolio under property management in the country.”

TELEMONEY

Three TeleMoney customers won brand new, 2006 model Aveo cars from Arab National Bank. They are: Marivec Japetro, Christopher Pinlac, both Filipino nationals, and Mohammed Adnan Khalil Aboud, Jordanian. Others won different valuable prizes, including Plasma LCD TVs, Notebooks, mobile phones, digital cameras. Abdrabbu Almejhid, head of TeleMoney Division, ANB, said “most winners are Indian, Egyptian, Sudanese and Indonesian nationals. However, Filipinos who remit funds more frequently to their home country bagged a bigger share of the campaign prizes. With TeleMoney, funds are delivered to beneficiaries in the Philippines within 20 minutes only, and a maximum of 2 hours for beneficiaries in Egypt, Sudan and Jordan.” The campaign was well received by citizens and residents alike, especially the transfer service through Al-Arabi ATM Network.

NISSAN

Alhamrani United Co. — exclusive dealer of Nissan vehicles in the Kingdom of Saudi Arabia and Nissan Middle East — will sponsor the annual Janadriya festival. The Janadriya festival celebrates Saudi Arabian history by bringing together several traditional Saudi folklore ranging from camel racing, poetry, art, theater and history.

The agreement was signed in collaboration with the Saudi National Guard, representing The Heritage and Culture National Festival (Janadriya). Nissan will be giving away 10 cars as prizes to the winners of the Camel Races which will be held at the event. “Nissan is a fervent advocate of Saudi culture, and getting the opportunity to sponsor Janadriya is a great privilege for us, giving us the opportunity to raise awareness of Saudi heritage and culture” Sheikh Ahmad Al-Hamrani, chief operating officer of Alhamrani United Co, said. The Janadriya festival kicks off on Feb. 14, 2007 until Feb. 28. Festival timings are from 9 am-1 pm, and 3 pm -1 am. Feb. 26-28 will be held exclusively for females.

GM

General Motors (GM) last month appointed Mohammed Hmeid to the post of regional director of its premium brands: Cadillac, Hummer and Saab. Hmeid is set to bring a fresh approach and perspective to the customer experience and branding.