SAPIN, Middle East’s leading packaging products and solutions provider, yesterday announced the establishment of a state-of-the-art production facility in Techno Park, a fully-owned subsidiary of Economic Zones World, Dubai. The move is a major step toward strengthening the company’s presence across the Middle East. The new facility, with the capacity of 100 million cans per year will be adjacent to Nestle Middle East’s manufacturing facility in Techno Park and will supply cans for Nestle products through an innovative system. A signing ceremony between SAPIN and Nestle Middle East for the new production unit was jointly headed by Khalid M. Al-Suhaimi, chairman of SAPIN UAE, and Jean-Louis Chaumeil, CEO and chairman of Nestle Middle East. Al-Suhaimi said: “Based on our strategic plans for the region, the UAE facility reflects SAPIN’s commitment to become the premier provider of quality packaging solutions in the GCC.”

NCB

The National Commercial Bank (NCB) participated in the two-day investment opportunities forum held at the Movenpick Hotel in Sanaa, Yemen which ended yesterday. The conference under the theme “Towards Mutual Common Interests,” was organized by the Secretariat of the Council of the Gulf Cooperation and the Yemeni Ministry of Industry and Commerce and Economy and business group. Abdullah Bahamdan, NCB chairman, who headed the bank delegation, said Yemen was able to achieve crucial tasks of creating their investment in various components of economic, legislative, regulatory and judicial in addition to providing securities available to foreign investments.

MACHITECH

Turkish businessmen participating in the 3rd Turkish Machine and Machinery Equipment Exhibition (Machitech ‘07), which ended in Jeddah last week, received tremendous response from Saudi business houses. “The four-day show proved that there is a heavy demand for Turkish machinery in Saudi Arabia,” Cem Nurgun, Turkish foreign affairs executive, Expotim, Turkey’s international fair organizing body, which organized the event in cooperation with Al-Harithy Company for Exhibitions Ltd., said. “Earlier Machitech exhibitions were held in Jeddah in 2004 and 2005. This time we had 64 Turkish companies participating, covering more than 1,520 square meter exhibition space,” he said, adding that Machitech is the only expo focusing on heavy machinery and equipment that is supported by Turkish government. Some exhibitors said they had clinched multi-million dollar deals, while others said many more were in the pipeline.

MARRIOTT

Marriott International Sales Office announced a 12 percent growth in sales for 2006 for Middle East, Africa and the subcontinent as compared to 2005. The impressive growth in 2006 was driven by a surge in inter-regional travel in the Business Transient and MICE categories. Changing patterns of consumer behavior was yet another aspect that fuelled higher revenues in 2006. Samir Daqqaq, vice-president, Marriott global sales organization, Middle East, Africa and the subcontinent, said “the regional hospitality business is witnessing a new wave of demand across the leisure, business and MICE categories. Within Business Transient, the region is seeing renewed interest in commercial centers such as Dubai, Doha and Riyadh. Within both the business and leisure categories, the revival of interest in US marked a reversal of the trend that began with the stringent VISA regulations enforced after 9/11.” In 2006, the number of visitors traveling to the UK was outstanding. Visitors from the Middle East were among the biggest contributors to Marriott’s hotels in Vienna and London. Outside of the Middle East region, Daqqaq highlighted the emergence of Shanghai and Beijing, as business destinations for the Middle East.

GIB

Global Finance magazine has named Gulf International Bank (GIB) as the “Best equity bank in the Middle East/Africa” after conducting a survey of the world’s best investment banks. According to the magazine, editors, with input from industry experts, used a series of criteria to arrive at their selection. These included market share, number and size of deals, customer service and advice, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, and after-market performance of underwritings. Deals announced or completed during the last two quarters of 2006 and the first quarter of 2007 were considered in the survey. The list of winning banks will be published in the June 2007 issue of Global Finance.

SABB

As part of its community service programs, SABB has carried out projects of humanitarian nature through its participation and sponsorship of the third educational festival for children with special needs, organized by the General Directorate of Special Education in Riyadh on Thursday. At the event, Ibrahim Abo-Mouti, head of corporate communications at SABB, received an appreciation plaque from Dr. Nasser ibn Ali Al-Mousa, director of special education at the Ministry of Education, for the sponsorship of this charity event. Abo-Mouti said: “As the bank is an integral part of the community, we are very keen to support all humanitarian and social programs that help in serving the community in all aspects.