JEDDAH: The first Bab Rizq Jameel branch has opened in Egypt after receiving the official approval from the country’s Ministry of Social Security. Six employees are operating the new center to create about 4,000 job opportunities during 2009 in various fields through diversified programs. “Establishing the first Bab Rizq Jameel branch in Egypt will help creating job opportunities through several diversified programs including taxi and truck ownership, direct employment, small projects and other programs,” Muaz Al-Faramawi, general manager of the branch, said.
Kuwait appoints new oil minister
KUWAIT CITY: Kuwait has appointed a new oil minister to fill a key position left vacant since the Cabinet resigned in November. Kuwait’s official news agency says Ahmed Al-Abdullah Al-Sabah was sworn in yesterday. It did not elaborate. He formerly served as health minister.
New German economy minister
BERLIN: Conservative Michael Glos stood down as German economy minister yesterday in favor of newcomer Karl-Theodor zu Guttenberg, in an embarrassing setback for Chancellor Angela Merkel as she prepares for a federal election. Glos, 64, shocked the chancellor at the weekend by tendering his resignation, forcing her to fill an important cabinet post with an untried figure less than eight months before she seeks re-election.
ABC’s deputy chief retires
MANAMA: Arab Banking Corporation (ABC), a Bahrain-based international Arab bank, yesterday announced that its Deputy Chief Executive Abdulmagid Breish will take an early retirement effective March 31. Breish joined ABC nearly 30 years ago and has been with it since its inception. ABC’s Chairman Mohammed Layas and President and Chief Executive Hassan A. Juma thanked Breish for his many years of service to the bank, his leadership and for the personal commitment he brought to every aspect of his work.