The Saudi British Bank (SABB) recently launched the UAE Equity Trading Service for the first time in the Kingdom for investors. “The service is being introduced to meet the requirements of the bank’s customers, wishing to diversify their investments and benefit from the high profitability posted by Gulf money markets that have recorded high returns, ranging between 4.6 percent and 35.6 percent. This service is the beginning of a plan to extend the trading service to cover all other Gulf equities,” Ihsan A. Bafakih, country head-business development, said. “The new service, which can be accessed through SABB investment centers, will provide Saudi and local resident investors with additional investment opportunities and profitability along with the opportunities provided by the bank to its customers in the American, European, Asian and Japanese markets.” SABB investment services have achieved many successes and landed a string of awards, the last of which was the top ranking in the list of the winner banks of the Saudi investment funds competition awards for 2003, held by the investment committee consisting of members from Saudi banks under the supervision of Saudi Arabian Monetary Agency. SABB won 13 prizes for 2003, the most prestigious of which was the first award of Saudi equities.
Starbucks Coffee
Starbucks Coffee, a retailer, roaster and brand of specialty coffee in the world, has launched its new range of lively African whole bean coffees for a limited time this summer in the GCC and Levant region. The range includes the extremely rare Ethiopia Yergacheffe, only available every couple of years, as well as Tanzania and Gazebo blend. This unique beverage lineup has been specially selected to highlight the crisp, refreshing, citrus flavors that are often associated with the season — but only rarely with coffee. “Coffee is at the core of our business and we are constantly creating new ways for our customers to maximize their experience of excellent coffee. Whether it’s in the different ways we brew it, serve it or pair it with delicious food items, we want our customers to appreciate the quality of the coffees and enjoy it in the way that best suits their tastes,” Starbucks International Coffee Category Manager Heidi Durham said. “While Starbucks African coffees can be enjoyed as brewed coffee, the crisp citrus and floral notes found in these African whole beans are further highlighted when served over ice. This is the perfect way for coffee lovers to enjoy special single origin coffees or coffee blends, during the hot Middle Eastern summer,” Durham added.
NCB
The National Commercial Bank’s investment products have achieved a new breakthrough following the declared winning of the NCB Fund for Trading in International Shares of the top rank in the “International Shares” category. “The award acquires great importance as the rating was made by the Saudi Arabian Monetary Agency’s Committee on Investment Products concerned with evaluating the performance of investment funds at national banks for the year 2003,” NCB Deputy Director General Abdulkarim Abul-Nasr said. The NCB’s rating was based on “highly professional” standards, including foremost is realized earnings as the fund achieved the highest yield compared with competing funds of the same category. He stressed that the bank’s funds have ranked first and second in the category of international shares as measured over the course of the past three years. Meanwhile, the NCB held a graduation ceremony for its first group of 14 financial planners certified by Saudi Arabian Monetary Agency. NCB Director General Abdul Hadi Shayef and Abul-Nasr attended the ceremony. Khaled Bahabri, head of operations and technology at the bank’s investment service department, gave a presentation on the concept of financial planning and the extent of its importance to the community.
Samsung
Samsung, presenter of the Athens 2004 Olympic Torch Relay, yesterday announced that 50,000 gold coins will be distributed during its Olympic Games summer promotion across the Kingdom. The campaign also included special offers on the audio-video equipments. “What makes the Olympic Games different this time is that they are being held at their birthplace, and the first ever global Olympic Torch Relay is already traveling across the world,” Jin Soo Kim, general manager, Samsung Middle East & Africa, told reporters. “The relay will travel through a total of 27 countries and 34 cities including all previous host cities of the Olympic Games and cities in the continents where the Olympic flame has never visited before, such as Cairo, Cape Town and Rio de Janeiro. A total of 260 million people will have seen the flame when the torch relay completes the tour. “Samsung’s contribution to sports is not limited to finance. It has also applied its advanced digital communications technology to help ensure that these sporting events are a big success. The company’s biggest bet, however, is an investment of 200 million euro to meet the wireless communication needs of the Games,” said Salim Majzoub, marketing and communication manager at Samsung Electronics in Jeddah.
