EMAAR
Emaar, The Economic City (Emaar EC), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has contracted Saudi-based Huta Group to undertake the development of water canals within the 168 million square meter mega project. Dr. Abdulraouf Mannaa, managing director, Emaar EC, and Saleh Binladin, chairman, Huta Group, signed the SR250 million contract to lay out man-made water canals with supporting walls, over a total of 1.9 million cubic meter area. The project is scheduled for completion by late-2008. “KAEC is the single largest private sector-led project in the region and it is important to have partners with a proven track record in undertaking complex projects to meet our requirements,” said Mannaa. “As a mixed-use development with a strong residential and hospitality component, it is important to have spectacular landscaping within KAEC especially in the residential and resort districts.
AL KHALIJI
Shares in Al Khaliji began trading yesterday on the Doha Stock Market (DSM) as the bank took good governance and transparency another step forward by writing to each of the 86,547 investors in its recent initial public offering (IPO). Al Khaliji’s letter to shareholders not only advised them of the listing date but also invited them to play an active part in shaping the region’s newest and most innovative entrant in the banking sector. By registering at www.alkhaliji.com, shareholders (and non-shareholders) who are interested in the future of the bank are able to “join the conversation” with Al Khaliji and make suggestions on what they would like to see from a new bank — as well as tell the bank’s management what they don’t like. Tariq Al Malki, chairman of Al Khaliji, said: “I am very proud that so soon after the establishment of the bank we are already celebrating a major landmark — today’s listing on the Doha Securities Market.
GM/MEMAC
General Motors Middle East Operations has appointed Memac Ogilvy Public Relations (MOPR), part of the Ogilvy Public Relations Worldwide network and the WPP group, as its PR and communications agency across the region. The appointment encompasses all five of GM’s automotive brands — Cadillac, Hummer, Chevrolet, GMC and Saab, as well as the aftersales and corporate business. MOPR will be responsible for executing GM’s corporate PR and corporate social responsibility programs. Terry Johnsson, president, GM Middle East Operations, said: “We look forward to Memac Ogilvy PR’s strategic counsel on how to refine and deliver messages relevant to the market.” Edmond Moutran, chairman, Memac Ogilvy, said: “Our experience in the automotive industry and regional network are among the factors instrumental in winning the GM’s PR account. Ronald Howes, MD, Memac Ogilvy UAE, said: “This is a significant win for MOPR.”
TETRA PAK
Tetra Pak, a major food and beverage processing and packaging equipment company in the world, is on target to reduce CO2 emissions by 10 percent in absolute terms by 2010, according to the company’s 2007 Environmental and Social Report. The report, entitled “Sustainable by Nature,” released recently demonstrates the company’s continued commitment to the environment and outlines its future goals. Tetra Pak has reduced its CO2 emissions by four percent from 390,000 ton CO2 equivalents in 2005 to 373,000 ton CO2 equivalents in 2006. In addition, a record 21 billion beverage cartons were recycled. In recent years Tetra Pak has undertaken several key environmental initiatives. “Our commitment is as much about good business as good corporate citizenship, as saving energy and reducing waste means reducing costs,” said Dennis Johnsson, Tetra Pak president and CEO, a report from Laussane, Switzerland, said.
ALJ
Abdul Latif Jameel (ALJ) Group has announced record car sales, especially of Toyota and Lexus, over the first half of the year in Saudi Arabia and in other Arab countries where it is operating. It has recorded an increased market share in car sales across the Kingdom, Morocco, Algeria and Syria. It achieved an increase in its market share of Daihatsu cars in both Egypt and Turkey. It has ranked first in customer service in some countries including Germany in the first half of the year. Mohamed Abdul Latif Jameel, speaking on behalf of the group, said that 2007 would be another record year of achievements in car sales with the group’s ‘customer first’ marketing strategy. The results were announced at a recent Kaizen Marathon celebration held in Morocco. The group has adopted ‘Kaizen,’ a Japanese word meaning continuous improvement, with the aim of achieving best results as the underlying principle of its culture.
NOKIA
Nokia, a world leader in mobile communications, has chosen India as the location for the first in a series of satellite design studios it plans to establish in design hot spots around the world, signaling the increasing impact the country is having on the development of mobile phones. Established via a two-year partnership with the Srishti School of Art, Design and Technology in Bangalore, it will give Nokia designers and India’s talented young designers the opportunity to work together on new design ideas for India and the global markets. Nokia’s Chief Designer Alastair Curtis said: “India is a dynamic and inspiring place for designers with its diverse mix of cultures, traditions and color. The new satellite studio will help us further develop our understanding of this vibrant country and to work more closely with its extremely talented designers.” The satellite studio will explore a range of design trends and themes including detailed research into color and material trends.
INTERPIPE
Interpipe has recorded 11.8 percent growth in shipment volumes of pipes and wheels in the first six months of 2007 against the same period last year. The growth in the number of pipes shipped totaled 13.3 percent (total volume 638,000 tons) and the amount of wheels shipped grew 4.5 percent (115,700 tons shipped). Alexandr Kirichko, CEO, Interpipe, said: “The company is progressing in line with its business strategy. We have increased export sales and maintained our position on the Ukrainian market at the same time with sales growth of 2.2 percent. We also achieved sales growth of 40 percent in the Middle East and Northern Africa and sales growth was up 54.5 percent in the CIS, mainly Kazakhstan, Turkmenistan, Uzbekistan, Azerbaijan and Belorussia). Sales volumes in Russia increased by 18.8 percent over this time last year.” Ukraine-based Interpipe plans to announce its six months results for the first half of 2007 in September.
ROWENTA
Rowenta, a manufacturer of beauty enhancing personal care products, has teamed up with the Elite model agency to introduce a range of hair care accessories for women in the Middle East. Its new collection comprises six professional styling accessories, which promise to add that extra flair and a daily touch of glamor by drawing on the professional expertise of the fashion world’s most exclusive model agency. Started in 1983, the Elite agency has launched the careers of well-known models, such as Cindy Crawford, Stephanie Seymour, Ashley Scott and Alessandra Ambrosio. Their unquestioned authority and experience in the world of beauty presentation has now been combined with Rowenta’s reputation for quality to produce six “unique products for an unashamed Supermodel elegance.” Two ionic hot air brushes include the collection.