The General Organization for Social Insurance (GOSI) has signed a five-year agreement with the National Commercial Bank (NCB) to move all their monthly payment operations through NCB’s electronic banking channels around the Kingdom. The agreement was announced at a joint press conference Addressed by Hussein b. Al-Okby, assistant governor for IT, GOSI, and Rayis Salem ibn Mahfooz of the NCB, at the NCB head office in Jeddah on Monday. Both of them termed it as a landmark agreement. “The purpose of the accord is to facilitate easy installment procedures for our clients,” GOSI Governor Soliman S. Al-Humayyd said. “NCB has always managed to give excellent service to all its clients, especially the GOSI,” he added. “The agreement will allow all companies and individuals making monthly payments to GOSI to go directly to one of NCB’s ATMs, AlAhli Phone Banking, or AlAhli On-Line www.alahlionline.com and make payments. The NCB’s 251 branches across the Kingdom are also ready to accommodate and service GOSI’s clients,” NCB General Manager Abdulkareem Abu Al-Nasr, said. “GOSI’s futuristic insurance plans are now a cornerstone for the development of the Kingdom. We’re very proud today to become part of these efforts,” Al-Nasr added. For the use of the ATMs, NCB has created an advanced system for easy installments of all types of payments for the governmental organization. The process has become as easy as paying a utility bill through the ATM. NCB has also created a totally automated phone banking solution and a secured on-line portal for GOSI clients to enable them to conduct their transaction from home or office.
L’AZURDE
L’azurde is participating in the first ladies fair for gold, jewelry and watches, which is being held at the Four Seasons Hotel, Kingdom, in Riyadh. “The exhibition, which continues till today, is a move in the right direction for L’azurde and the fashion-conscious lady,” L’azurde President Abdul Aziz Al-Othaim, said. The Kingdom is classified as one of the top five largest consumers of gold, and L’azurde, as a pioneer in this market, has an essential element and role in developing gold and jewelry fashion to fit all generations and social sectors in terms of quality and quantity, he added. Princess Hussa bint Abdullah ibn Abdul Aziz opened the exhibition, which is expected to attract 5,000 women, including businesswomen. L’azurde owns and runs the fourth largest group of gold jewelry factories in the world. L’azurde also has access to the largest distribution network for gold jewelry in the MENA region.
HYUNDAI
The newly launched 3.3 liter Azera is equipped with the smooth and sophisticated Hyundai 5-speed electronically controlled automatic gearbox, with H-matic offering clutchless gear-shifting, according to J.E. Kim, senior vice president of Hyundai Motor Co. (HMC), MEA. In terms of road holding, stability and handling precision, the new Azera has been the focus of intensive development input. “It’s a car which can compete at the highest levels in terms of on-road precision, safety and comfort,” he said at the launch of the new Azera in Riyadh. Other features include dual zone climate control with air quality control system and a dual color interior trim, together with high quality leather with metal and wooden elements for extra comfort. Precise and direct feeling power steering is complemented by electrically operated tilt and telescopic steering column. A premium sound system featuring Infinity speakers and steering wheel-mounted controls is ergonomically integrated into the dashboard.
ABC ISLAMIC BANK
ABC Islamic Bank and Emirates Islamic Bank have announced the joint mandate for a $70 million, three-year morabaha financing facility for Esfahan Steel Company (ESCO), Iran. The facility is guaranteed by the Iranian Mines & Mining Industries Development and Renovation Organization of Iran and enjoys a margin of 3.48 percent per annum with the top ticket fee of one percent per annum. The proceeds of the facility will be utilized for financing ESCO’s purchases of raw materials, machinery and equipment for the completion of the coking coal production expansion project. General syndication of the facility was launched recently to the regional and international banks. Both ABC Islamic Bank and Emirates Islamic Bank are acting as the joint book runners for the transaction.
SONY ERICSSON
Those looking for a phone with stylish looks and a no-nonsense approach will be happy to experience Sony Ericsson J210 which is a straightforward device for people whose primary communication style is voice and basic messaging and have no need for a fully-featured mobile phone. “The J210 is for practical phoners who value simplicity and reliability,” says Husni El-Assi, GM, Sony Ericsson MEA. “This is a straightforward, stylish and thoroughly modern phone that offers great value for money extending Sony Ericsson’s range of entry level phones.” Designed for every day use, the new phone makes life easier by mixing practical ergonomics with a simple, intuitive interface. The slim design incorporates a large keypad with joystick for easy navigation, and a bright 65K color screen. Using the phone in a variety of situations is made effortless as speech clarity is provided and a dedicated ringtone speaker delivers clear sound for incoming calls. And, although the J210 is designed with voice communication in mind, it is easy for users to supplement calls with SMS text and MMS picture messaging.
SAGIA
The Saudi Arabian General Investment Authority (SAGIA) hosted in Riyadh recently a vocational seminar on digital wireless technology with QUALCOMM Incorporated for key executives and managers from SAGIA, Saudi Telecom Co., Saudi Communications Development Company, and DevCorp International BSC. SAGIA welcomed the QUALCOMM team of international managers and engineers from Italy, Singapore and the United States, headed by Luigi Gasparollo, VP for development for the MENA region, QUALCOMM Europe. QUALCOMM is a leading developer and innovator of Code Division Multiple Access (CDMA) and other advanced wireless technologies. Worldwide, QUALCOMM’s extensive patent portfolio boasts more than 3,000 United States patents and patent applications for CDMA and other technologies.
