SSC Wins SR30m Al-Nahdi Contract

Author: 
Arab News
Publication Date: 
Sun, 2006-03-19 03:00

JEDDAH, 19 March 2006 — Saudi Storage Company (SSC) won a contract for more than SR30 million to provide its services to Al-Nahdi Medical, reported Al-Eqtisadiah newspaper. SSC would be providing storage, transport and distribution of Al-Nahdi medical products in Jeddah, Riyadh, Dammam and other regions in the Kingdom for five years. SSC is a support services company offering solutions in distribution and importing to chain stores and has more than 450 offices in over 100 countries. Al-Nahdi Medical has more than 300 pharmacies around the Kingdom and distributes to more than 1,000 pharmacies.

Ithmaar Bank IPO Oversubscribed

MANAMA, 19 March 2006 — Ithmaar Bank has announced that it has raised close to $900 million while undertaking a capital increase through a private placement and subsequently its initial public offering (IPO) which closed on March 12. The issue offered to the public which included a retail tranche and a wholesale tranche both amounting to approximately $235 million was oversubscribed by more than 3 times. The bank is satisfied with the allotment strategy it has devised as it ensured that retail investors were able to obtain full allotment for their subscription as the retail tranche would not be affected by the oversubscription in the wholesale tranche.

Al-Attiyah to Open Petrochemical Fair

DOHA, 19 March 2006 — Qatar’s Second Deputy Prime Minister and Minister of Energy and Industry Abdullah bin Hamad Al-Attiyah is opening the Petrochemical Fair today organized by the Gulf Organization for Industrial Consulting. 30 companies are participating in the fair with the aim of developing business interchange among potential major companies in the fields of petrochemicals and chemicals, oil and gas and desalination as well as with subcontractors in such fields as metal processing and forming, rubber and plastic, electronics, electrical equipments and components and other industrial services.

China to Host Venture Capital Forum

SHENZHEN, 19 March 2006 — The China Venture Capital Forum is an annual gathering in China, the largest of its type, and this year it is being held in April 7 and 8. It brings together experts and practitioners from the government sector, domestic and international venture capital institutions, private equity professionals, world-renowned financial institutions and intermediaries. As an important platform for growth enterprises and venture capitalists, the forum will facilitate the integration of industry and capital and create a favorable environment for enterprises to improve their financing efficiency. Over 1,000 participants are expected to attend.

Lifestyle Expo in Jeddah

JEDDAH, 19 March 2006 — The multisectoral Saudi Arabian International Trade Fair (SAITF) opens here today. The show in its 24th edition will continue till March 23. The event showcases light industries, machinery, consumer goods, giftware, clothing, textiles, leather goods, fashion accessories, cosmetics and perfumes at the Jeddah International Exhibition & Convention Center. “This year we’ve included “Lifestyle” — the Kingdom’s international event for furniture, furnishings, fabrics, floor and wall coverings, lighting, kitchens and bathrooms, interiors and exteriors, as a separate and complimentary exhibition to SAITF,” the spokesman for Al-Harithy Company for Exhibitions Ltd. (ACE), which is organizing the show, said. The wide and varied exhibit profile of SAITF, with its emphasis on consumer goods and services, will now be enhanced by those products and services included in “Lifestyle.”

Bangladesh to Hold Trade Fair in Riyadh

RIYADH, 19 March 2006 — Bangladesh will hold a single country trade fair in Riyadh in May this year, this was announced by the Bangladesh Embassy here last week. “The purpose of the single country fair is to attract investment to Bangladesh and also to introduce more Bangladesh products into the Kingdom,” Ali Akbar, deputy chief of mission of the Bangladesh Embassy said, adding that the large concentration of Bangladesh workers in the Kingdom demands more Bangladesh products for their local consumption in Saudi Arabia. The fair is being organized by the mission in Riyadh in association with the Bangladesh Businessmen Community, a body formed in 1995 in Riyadh to promote its country’s products in the Kingdom. (Mohammed Rasooldeen)

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