Bakhashab Brothers Holding Company, the authorized dealer of Isuzu Motors Ltd. in Saudi Arabia, held its third draw in Alkhobar to pick the winner of a Citroen C3 car. The draw was part of a series in which recent buyers of Isuzu trucks are eligible to win Citroen C3 cars. Overall, the company will give away more than SR1 million during this promotion. “Buy Isuzu Trucks and Pick-ups for your Job, Get a Car for your Family” was the campaign slogan. It means that anyone who purchases any Isuzu vehicle has a chance to win a Citroen C-3. This campaign kicked off at the end of August 2010 and will continue till the end of February. During the period, a draw is set at the end of each month and customers can win a vehicle in each month. Thus, everyone has a chance to get a Citroen C-3. The company announced that it had maintained its dominant leadership in trucks across Saudi Arabia in spite of the economic slowdown. Company President Hisham Khalid Bakhashab said: “These are tough times around the world, especially for the automotive business. But in spite of that, Isuzu vehicles have continued to perform very well in Saudi Arabia. In fact, our market share in the light duty truck segment is almost 70 percent and we also exceeded our sales in 2010 by 40 percent compared to the same period in 2009. This shows that Isuzu N-series trucks are the most reliable and hard working, providing value for money, Bakhashab said.
 

TNT has said that its preparation of the demerger transaction, which will separate TNT’s Express and Mail operations, will continue unabatedly, with filing of documentation planned following the 2010 annual results. A general meeting of shareholders is planned for the end of May 2011 at which shareholders will be able to vote on the proposal. The separation will become effective very shortly thereafter. A second interim dividend is planned for distribution in March to precede the 2010 final, to allow for timely dividend payment to shareholders. TNT distributable equity position TNT NV is estimated at 2,000 million euros, with participation in Express of 2,900 million euros before demerger while distributable equity available in TNT NV’s balance sheet for full demerger of Express is insufficient, with an equity gap of around 900 million euros at demerger. The company assumed potential further equity write-down of around 900 million euros in 2012-13 as a direct result of changes to be introduced in the IAS19 ‘Employee Benefits’ accounting standards. The estimated write-down is based on the current status of unrecognized actuarial losses included in TNT’s pensions, after the demerger. Martyn Wright, MD, TNT SAB Express Saudi Arabia, said the proposed demerger/separation would enable greater internal focus on each business, with single-business investment discipline and capital allocation and leaner, more flexible organizations.
 

In celebration of the Saudi national team’s participation in the finals of Asian Cup 2011, which take place in Qatar from Jan. 7-29, STC has introduced a number of exclusive offers for roaming customers for the duration of the event. The special offers include Internet roaming for SR100 a week and a 50 percent reduction after the third minute on calls from Qatar to Saudi Arabia and local calls inside Qatar. In addition, last summer’s “highly popular” campaign “Your Roaming On Us” is being reintroduced during the championship and after each match played by the Saudi national team a draw will be conducted for a prize of SR3,000 to be added as credit to the winners international roaming bill, valid until the end of this month. Similar offers were launched during other sports events including the 20th Gulf Cup when STC customers traveling to Yemen to support the Saudi National Team benefited from exclusive low rates that helped them to keep in touch with their families and friends in the Kingdom. STC’s unified international roaming service offers added value by applying a unified economic tariff that ensures transparency and price consistency, together with exclusive discounted fixed rates for local calls in countries abroad and for calls to the Kingdom, and a free calls receiving service for postpaid customers. Confirming its leadership and commitment to excellence, STC has signed more than 1,200 international roaming agreements with operators throughout the world.
 

Less than a year after the introduction of the all-new Nissan 370Z Coupe — a vehicle that “reset the bar for affordable sports car design and performance” — comes its dramatic new stable mate, the 2011 Nissan 370Z Roadster. The 370Z Roadster offers everything the hardtop 370Z Coupe does — and more. Also offered is an array of technology and convenience features, including available cooled seats, Nissan touch screen navigation system and Bluetooth hands-free phone system. The 2011 370Z Roadster is available now from Nissan’s GCC retailers. “The 370Z Roadster delivers an exhilarating connection to the air, wind and environment on top of the new 370Z Coupe’s exceptional levels of performance,” said Deia Younes, VP sales and marketing. The 370Z Roadster’s most obvious departure from the 370Z Coupe is its convertible top. With convertible top in the closed position, the design provides a sophisticated sloped-back appearance, the perfect balance between the soft top and the Z body design. The shortened windshield and aerodynamically rounded rear deck enhance the 370Z’s kinetic and dynamic character lines. When in the down position, the convertible top is concealed beneath a full body-color hard tonau cover, which extends forward to help create the 370Z Roadster’s classic “double cockpit” style interior. Like the new 370Z Coupe, the 370Z Roadster’s new exterior is more aggressive in appearance, and lighter and tighter in structure than the previous generation 350Z model.
 

The recent Saudi International Boat Show (SIBS), which claims to be the Kingdom’s only international leisure marine tourism festival, welcomed more than 30,000 “high caliber” visitors to its highly successful second edition at the Al Furusya Marina & Yacht Club in Jeddah. The four-day event featured 58 world-class boats and yachts, alongside a wide range of products and services from 135 of the boating industry’s top companies and brands from 19 countries. Organized by Dubai World Trade Center (DWTC), managed by Al Ahlam Marine Tourism Group and endorsed by the Saudi Commission for Tourism and Antiquities, the show welcomed 74 newcomers from Asia, North America, Europe and Australasia. The event also attracted first time brands such as Westport, Romeo Marine, Trinity Yachts and Japan Marine as well as 14 new Saudi companies and brands. More than 70 percent of the total number of boats on display was sold during the show, including boats from Al Shaali Marine, Kayello, Mega Marine, Saudi Yachts, Sunseeker and Reneh Emirates Trading. Wail Yahya Ali Rawas Marine Equipment sold seven boats alone. Mercedes Benz (Juffali Group), the show’s official car sponsor, also signed deals for several luxury cars showcased at the event. The event also provided a strategic platform to display and launch a collection of superyachts and boats from the world’s leading manufacturers, including the regional premieres of the Pershing 72 and the Benetti Delfino, and the Saudi Premiere of the Azimut 53.
 

Amadeus, a travel technology partner and transaction processor for the global travel and tourism industry, has announced that Luis Maroto, former deputy CEO of Amadeus, replaced David V. Jones as president and CEO of the company, effective Jan. 1. The succession plan for Luis to become president and CEO was originally announced in January 2010. Since then Luis has been working closely with David and the Amadeus executive team, to ensure a smooth transition and succession. Luis Maroto has worked for Amadeus for 11 years in a number of positions including CFO. For the last two years as deputy CEO, he has been instrumental in Amadeus’ return to the stock market with the company’s successful IPO in April 2010 and the subsequent inclusion in Spanish blue-chip index IBEX-35, where the company is debuting today. Talking about his new role, Maroto said: “On behalf of all the Amadeus employees I would like to thank David for his commitment and leadership over the last years. It is an honor for me to take on the position of president and CEO of Amadeus and I take up this challenge with huge enthusiasm and look forward to working with our customers, employees and investors in this exciting and growing industry. I am confident that, alongside the company’s outstanding team of professionals, we will ensure that Amadeus continues to be a great company to do business with and continues to lead innovation in the travel and tourism industry.”
 

Consumer confidence appears to be rising in KSA, according to the latest Consumer Confidence Index (CCI), a quarterly survey conducted by the Middle East’s job site Bayt.com in conjunction with research specialists YouGov Siraj. It found the Kingdom’s CCI increased by 0.4 points since last September. Meanwhile, Bahrain and Qatar saw impressive increases of 10.4 and 9.4 points respectively. However, Lebanon recorded the largest decrease, moving down the index by an incredible 23.1 points. Lebanon has had a particularly unstable year with extreme lows and highs recorded each quarter. In North Africa, consumer confidence in Morocco and Egypt rose by 2.1 and 0.4 points respectively. The CCI is a measure of consumer expectations and satisfaction of various elements of the economy including inflation, job opportunities and the cost of living. As part of the CCI, respondents are asked questions about their personal financial circumstances and how they compare them to the same period last year. Overall, 34 percent of the region’s respondents say their financial position is the same as last year and just over a quarter, 28 percent, say it has gotten better. In the Kingdom, 31 percent say they are better off than last year, 35 percent say they are in the same position as last year and 28 percent say they are in a worse position than last year. “The region seems to be stabilizing. This could mean that the worse of the crisis is indeed over for most of the Middle East,” commented Rabea Ataya, chief executive officer, Bayt.com.