Solidarity, one of the largest Takaful Companies in the world, signed a memorandum of understanding with Ahad Insurance Company, headquartered in the Kingdom of Saudi Arabia, to establish an insurance company that complies with Shariah, with SR400 million in paid-up capital. The memorandum of understanding states the establishment of Shariah-compliant insurance company designed to focus on providing general and family-related insurance solutions in the Kingdom. Ahad founders will be included as part of the licensing application submitted earlier by Solidarity to Saudi Arabian Monitory Agency (SAMA). Saleh Al-Omair has been designated as chief executive officer of the new company. Al-Omair has an extensive experience in Saudi Arabia’s insurance market where he worked as general manager of Al-Taj Health Insurance Company that is wholly-owned by the NCCI. He is also the chairman of the National Center for Medical Insurance Standards.
RUBY TUESDAY
Ruby Tuesday started its unique summer promotion this month throughout September. Children are the focal point of the festivities. Every Tuesday night, Ruby Tuesday will host “Kid’s Night Out” which includes exclusive entertainment with Baba Abboudd, a DJ, face paintings, games with gifts and prizes to be won, and the always appetizing kid’s menu. In honor of the season, Ruby Tuesday is also adding a new item to the menu: the Jumbo Lump Crab Cake. This distinct appetizer features fresh and tender premium crabmeat that is accented with sweet, spicy chili sauce seared to perfection. New summer cool refreshing beverages have been added to the menu, combining fruits and juices to form exquisite revitalizing drinks. “Ruby Tuesday wants to show their sincere appreciation to their loyal customers. They have been a vital part in making this restaurant a success. We look forward to this and many more successful events,” said Hassan Balubaid, assistant managing director for Ruby Tuesday, Saudi Arabia.
LG
LG Electronics (LG), a global leader and technology innovator in consumer electronics, announced that it would take home three trophies in the prestigious 2007 European Imaging and Sound Association (EISA) Awards. LG will receive the awards for “European HD Player 2007-2008,” “European Compact System 2007-2008,” and “European Personal Media Player 2007-2008” at an official ceremony to be held at IFA Berlin on Sept. 1, 2007. “All of LG’s products taking honors this year demonstrate the company’s advanced technology, high end features and innovative designs. LG has previously won awards from EISA, the largest editorial multimedia organization in Europe, for its ability to develop multimedia products that far surpass the competition in both technology and design” added Simon Lee, general manager of LG Electronics in KSA. In 2006, LG won three EISA Awards for its 42-inch Plasma TV, flat wall-mounted projector and RH200MHS digital video recorder.
SAMSUNG
Samsung Gulf Electronics, a leader in telecommunications technology, unveiled its new Samsung U700, a highly anticipated world’s slimmest HSDPA slider style phone in Jeddah on Sunday. Samsung U700 has a mirror-like coating surrounding the 2.2-inch LCD screen. The screen displays 262,000 colors with a resolution of 240x320 pixels. The U700 Ultra Edition has been designed by Samsung to provide the user with an attractive slider phone complete with 3G capabilities. “The phone comes with an advanced 3.5G HSDPA technology which allows the user to enjoy a high download speed, Sandeep Saihgal, general manager, telecommunication division of Samsung, said during the launch. The U700 comes with a built in 3.2 mega pixel camera for still photography and video capture as well as a second VGA camera for 3G-enabled video telephony.