Emaar Properties, the world’s major property developer in terms of market capitalization, along with its flagship Saudi Arabia project, King Abdullah Economic City, has announced its status as partner sponsor for the Jeddah Economic Forum to be held from Feb. 11-13 at the Jeddah Hilton. Emaar Properties Chairman Mohamed Ali Alabbar and JEF Chairman Amr Enany recently signed the agreement. Along with its Saudi partners, Emaar’s sponsorship of the high profile forum will commence at this year’s event and continue in 2007. “This is a critical time for the Kingdom. The country is in its economic prime. Not only did Saudi Arabia become part of the World Trade Organization last year, but the country saw a GDP rise of seven percent and a 50 percent surge in oil exports,” Alabbar said.
GM
General Motors (GM) is sponsoring the Jeddah Economic Forum 2006 (JEF), scheduled at the Hilton Hotel from Saturday through Monday, for the second year running. This year marks the seventh anniversary of the forum being organized and has selected a theme titled “Seeding potentials for economic growth - honoring identity and celebrating common grounds.” “Together with our dealers in the Kingdom, our work represents a living example of this year’s theme, especially when it comes to Saudi youth with their ambitions, aspirations and the immense drive they demonstrate,”said Adnan Al-Khamis, manager, strategic initiatives, Saudi Arabia, GM Middle East. “GM is investing heavily in the training and development of the Saudi work force so we’re delighted to sponsor the forum again given the theme for 2006.”
IGI
Majid Al-Ghurair was elected chairman and Wasef Jabsheh was elected vice chairman and chief executive officer of International General Insurance Company Ltd. (IGI) at its extraordinary general meeting held in Amman recently. Aside from these two, the IGI board of directors now consists of Rateb Wazani, Akbar Habib, Amir Abu Ghazaleh, Mohammed Abu Ghazaleh, and Khalifa Almulhem. “The new chairman and board demonstrate IGI’s ongoing commitment to achieve sustainable profitable growth supported by a management team of the highest caliber. We’ve an ambitious vision to be the specialty insurer of choice in the region and believe that new investors and directors will help us to achieve this,” Jabsheh, said.
