The Saudi Basic Industries Corp. (SABIC) honored its Western Province polymers customers at a function in Jeddah on Tuesday. Present at this special event were Dr. Abdul Rahman Ibn Saleh Al-Ubaid, vice president, Polyolefins and nearly 200 representatives of plastic factories in the two regions. Dr. Al-Ubaid referred to the constructive cooperation between SABIC and the plastics downstream sector and said the number of factories had already exceeded 800 now compared to 100 in 1986. “The last three years have seen a major breakthrough. The number of SABIC polymers consumer factories rose to 837 compared to 615 factories, a growth increase of more than 36 percent, leading to a 26 percent increase of consumption,” he added.
MEDTRONIC
Medtronic has been named as the “Leader in Diabetes Education in Saudi Arabia for the Year 2005” at the recent13th annual meeting of diabetes educators held in Riyadh. The award recognizes Medtronic for its contribution in diabetes, especially intensive insulin therapy and training of medical personnel in the Middle East. Diabetes is currently reaching epidemic proportions. In the Eastern Mediterranean Region, an estimated 15 million people are afflicted with diabetes. Worldwide, it is estimated there are about 194 million adults with diabetes and this number is expected to reach 333 million by the year 2025. Much of this increase will occur in developing countries and will be due to population growth, ageing, unhealthy diets, obesity and sedentary lifestyles.
HONEYWELL
Honeywell increased the number of employees in its Middle East operations by 30 percent in 2005, and expects its work force to grow another 20 percent this year as part of the region’s growing importance for it. “The Middle East is a very important and high-growth market for Honeywell. Its growth in the region mirrors the strong momentum that Honeywell enjoys throughout its global operations,” Honeywell Chairman and CEO Dave Cote said in his address to customers and employees at Honeywell’s annual Middle East Users’ Group Conference in Bahrain. He ended his second tour of the region in six months, Cote addressed over 150 Honeywell process solution users from Saudi Arabia, Kuwait, the UAE and Qatar, who attended the two-day conference.
STARCOM MEDIAVEST
Starcome Mediavest Group and Leo Burnett Group of Companies hosted a reception attended by their key local and regional client-partners, some of the most senior executives from the world’s most prestigious multinationals, key figures from the press, and the global groups’ own senior executives in Bahrain recently. The reception coincided with another special event, where Publicis Groupe Chairman & CEO Maurice Levy received the International Advertising Association Award, one of the highest accolades in the fast paced industry. The evening was the perfect opportunity for Levy, Leo Burnett, and Starcom to thank the most precious of the group’s high-profile clients for making them what they are today, true leaders in their respective fields.
SUZUKI
Suzuki Saudia has announced the winners of a full package to attend the World Cup 2006, following a competition organized by the company for Swift owners. At an event held at Suzuki branch, Palestine Street, Suzuki Sales Manager Ali Bamarouf announced the names in the presence of a Jeddah-based representative from the Ministry of Commerce. “We adopt a clear strategy which expresses Suzuki’s will in enhancing the sporting spirit of young Saudis through the launch of Suzuki Swift, the sports car known by its famous identity Wenplay,” Bamarouf said. “We planned the contest to offer Swift owners a valuable journey to attend the World Cup,” he said, adding that Suzuki is set to launch an integrated group of car models to satisfy the needs and desires of Saudis.
GIC
Moody’s has changed Gulf Investment Corporation’s (GIC) ratings outlook on the A2/P-2 long- and short-term foreign currency deposit ratings from stable to positive. Moody’s has also changed the outlook on GIC’s A2 senior unsecured ratings from stable to positive. This has reaffirmed GIC’s reputation as a high quality credit counterpart and business partner in the region. The steady growth in profitability over the past few years, combined with a solid capital base and high productivity ratio have contributed to this enhanced rating. The continuous and undiminished support of the six GCC states, which equally own the corporation, has also been a significant factor. GIC has been quite successful in clearly defining its strategic goals and in executing action plans targeted at enhancing revenues.
VISA
Visa International and FIFA (Federation Internationale de Football Association) announced a milestone agreement, which will make FIFA a partner with global rights to a broad range of FIFA activities including the FIFA World Cup and the FIFA Women’s World Cup. This new partnership, with unparalleled access to FIFA properties worldwide, links the world’s leading payment brand, Visa, and the world’s leading sport, football, in a unique and groundbreaking relationship that will benefit fans worldwide. Visa’s commitment will begin in January 2007 and run through 2014 in the financial services product category. As one of six FIFA partners, Visa will enjoy a higher level of association with FIFA than previous category sponsors and enjoy rights to many FIFA activities.
