TAHWEEL AL-RAJHI
Julma Ladjahindo, Severo Lebrilla and Manuel Balanag were the first week winners of Al-Rajhi Bank’s two-month promotion, which gives customers a chance to win exciting prizes including round trip airline tickets to Manila, iPods, Mobile phones and free money transfers for a whole year. This promotion comes as part of the bank’s launch of its first Tahweel Al-Rajhi Remittance Center, which caters especially to the Filipino community. The center, opened by Philippine Ambassador Antonio P. Villamor, is located near Manila Plaza in the Batha area in Riyadh.
LG
LG Electronics, a global leader and technology innovator in consumer electronics, mobile communications and home appliances, and its distributors United Yousef M. Naghi Company of Saudi Arabia, have announced the launch of its line of 2009 LCD and Plasma TV series. The series aims to revolutionize the regional television sector, offering a “unique combination of the highest level of slim sophistication, stylish design and advanced technology — extending unmatched picture quality and an unforgettable experience.” The series includes LH70, LH50, LH20 and LF15 LCD range, as well as PQ70, PQ60 and PQ30 Plasma range. The entire gamut of LCD and Plasma TV series on offer from LG caters to different tastes, preferences and price-bands, with each series targeted at certain clientele. “We are excited about the launch of our new LCD and Plasma 2009 series in the region, offering a remarkable combination of design, versatility and digital features. The entire range is stylish enough to fit in any living room as an exceptional home decor element, and can easily be connected to a wide variety of devices. One of the salient features is that we have targeted various price segments to cater to different needs and preferences — thus staying within reach for most buyers,” said Simon Lee, GM, LG. “The stylish series offers a new world of advanced technology that provides incredibly sharp full HD image quality with LG TruMotion technology and rich, clear sound,” he added. Hwang Unchul, EVP, United Naghi, said: “LG has reinforced its reputation as the undisputed leader in the TV industry by unraveling the new LCD and Plasma series. Compatible with the latest digital formats and offering a vast array of convenient inputs, the new range from LG perfectly balances smart technology and stylish designs that fit into any consumers’ lifestyle.”
JOTUN
Jotun Paints, one of the world’s leading producers and suppliers of paints and coatings, has recycled 1,000 tons of waste material last year in its UAE-based plant, where eco-friendly paint products for the Middle East market are manufactured. In line with aims to further its “green” practices, the company has also announced a streamlined plan to increase its energy efficiency to six percent by 2010. Further, Jotun Paints marked the “World Environment Day” by involving employees and their families in a series of competitions — poster design, slogan writing and environment quiz. Naji Alradhi, head of waste treatment section, and Rashed Mohammed Karkain, head of technical support and studies section, both of Dubai Municipality’s waste management department, were present at the event and presented prizes to the winners recently. As a major part of the company’s environmental initiatives, Jotun Paints’ massive waste reduction programs have resulted in the processing of 8.22 tons of powder, 30.44 tons of solvent, and 975.25 tons of water wastes last year. It has also assembled a designated team to lead its multiple ‘green’ initiatives. “We understand that achieving a sustainable environment is a daunting task, which is why in addition to taking significant steps in spreading awareness on this issue, we are also observing practical yet effective measures to increase our energy efficiency such as reducing the load on our air conditioning system during silent hours and regulating our office lightings,” said Trine Finnevolden, general manager, Jotun Paints UAE.
HSBC
Real estate companies in Saudi Arabia are set to benefit from macroeconomic trends and socio-economic factors, leading HSBC to recommend that international investors take a close look at the sector. Saudi Arabia is unique in the Gulf in that it has a large and under-provided domestic market, and the bank estimates that the country will need one million new homes by 2014. Having analyzed the statistics and trends, HSBC believes that “the Saudi property market offers some of the strongest fundamentals in GCC.” The bank’s MENA equities research team has initiated coverage of the sector with a report on Al-Akaria, which it recommends investors are overweight in their portfolios, and Dar Al-Arkan, to which it assigns a “neutral” rating. In a comprehensive report on the sector, HSBC’s team conclude that Saudi Real Estate merits investment because the shortfall of new homes required is unlikely to be met, meaning prices and rents will continue to rise; the Kingdom’s young population is set to expand; the average number of people living in each dwelling is expected to continue to fall; and homes remain relatively affordable in the Kingdom, compared to other Gulf countries. The report does not ignore risks. “These are interesting times for investors looking at Saudi Arabia,” said Raj Sinha, head of equity research, HSBC Saudi Arabia. “The Kingdom looks set to emerge from the credit crisis in better shape than many other emerging markets, and we remain positive toward the prospects for the Kingdom’s listed companies.”
UPS
UPS has acquired the assets of a unit of Intereuropa Globalni Logisticni Servis that has been acting as its authorized service contractor for small package delivery in Slovenia since 1991. “UPS and Intereuropa have had a successful relationship in Slovenia for almost two decades, but UPS needs a greater presence in this dynamic market,” said Wolfgang Flick, president, UPS Europe. “With this acquisition and the establishment of wholly-owned operations in Slovenia, UPS will have the flexibility it needs to invest in its global brand, transportation network, technology and workforce to better serve its growing customer base in this country.” Slovenia has the highest per capita GDP in Central Europe of the countries that joined the EU in 2004 and after. It is considered a model of economic success and stability for the region. UPS is the world’s largest package delivery company and a global leader in supply chain and freight services, offering an extensive range of options for synchronizing the movement of goods, information and funds.
SHARAF DG
Sharaf DG, UAE’s leading electronics retailer, has opened a 50,000 sq. ft. store in Safeer Mall, Sharjah. The launch marks the retailer’s first entry into the emirate and takes its tally of stores across the region to nine. Commenting on the launch, Yasser Sharaf, managing director Sharaf DG, said, “Sharaf DG has experienced tremendous success in Dubai, Abu Dhabi and recently in Bahrain, and we were looking for the right location and opportunity to launch in Sharjah for a while now.” “Like our stores in Dubai, the Sharjah outlet will offer our brand promise ‘If we don’t have it, you get it free.’ This means if any customer does not find what he is looking for; he can register his requirement with our sales team who will procure the product within a stipulated time. And if we cannot deliver as per our commitment, the customer will get the product absolutely free. This way we assure you that you will always find what you want at Sharaf DG.” This year Sharaf DG has won four awards for retailing excellence, including the most recent ‘Best Retailer of the Year 08’ conferred by the Channel Middle East magazine.
BICG
Brother International Corporation Gulf (BICG), a global leader in the development and manufacturing of printing, communication and digital imaging products for homes, SOHOs and enterprises, has named Arabian Business Machines Company (ABM) Olayan as its new distribution partner in Saudi Arabia. The partnership is in line with the manufacturer’s aims to leverage the rising IT spending in the Kingdom, which has reached $3.4 billion in 2008 and is expected to hit $5.6 billion by 2013. For over 20 years, ABM Olayan has served the Saudi Arabia business community with a range of state-of-the-art products. Headquartered in Riyadh, the distributor is a wholly owned operating company of The Olayan Group, whose businesses includes office automation technology, detection security products, physical security (storage products), computers and software products and technical services. “Our commitment as the pioneer of the MFC technology goes beyond developing innovative features and incorporating them within the existing models — it also involves us constantly seeking ways to make our products more accessible to end-users,” said Shinji Tada, MD, BICG.
DUPONT
DuPont, one of the first companies to publicly establish environmental goals 19 years ago, has underlined the importance of environmentally friendly, renewable and sustainable products on World Environment Day. A study of consumer environmental purchasing habits shows that demand for sustainable offerings remains strong despite the recent downturn in the economy. According to a recent Cone Consumer Survey, 44 percent of consumers say their “green” buying habits remain unchanged despite the current economy and one-third of consumers say they are more likely to buy green today than they were previously. “Our products offer both improved performance and a significantly reduced environmental footprint,” said John P. Ranieri, VP & GM, DuPont BioMaterials.