The Gulf Petrochemicals and Chemicals Association (GPCA) on Sunday opened its headquarters on Sheikh Zayed Road in Dubai. This will be the main administrative center for the association as it builds its membership ranks and develops common positions on industry issues. Mohamed Al-Mady, vice chairman and CEO of Saudi Basic Industries Corporation (SABIC) and the first chairman of the GPCA, said at the opening, “The GPCA was established to ensure that the industry finds a common purpose and realizes common ambitions in the region and on the international stage and to build a greater awareness of the importance of the industry among our many stakeholders. The opening of this office today is a small but symbolically significant step in achieving this purpose.”
NCB
The National Commercial Bank (NCB) achieved a record number of electronic transactions executed through the AlAhli Telephone Banking Service. The number of daily transactions has thus reached 350,000. Telephone Banking Manager Saeed Al-Zahrani said that the AlAhli telephone banking service launched by the bank in 1994 had expanded greatly in keeping with the increasing number of services offered via this important channel which is one of the optional distribution channels provided by the bank. He added that in the light of the continuous growth in the number of clients and increased use of the bank’s electronic channels the staff had been greatly expanded. The AlAhli telephone banking work team is now made up of 300 highly qualified Saudi employees.
UNITED GULF BANK
In June 2006, Moody’s Investors Services assigned Baa3 and Prime-3 as long and short-term deposit ratings to United Gulf Bank BSC., Bahrain (UGB). It also assigned a D financial rating to the bank. All ratings carry stable outlooks. UGB is a Bahrain-based investment bank with plans to transform into a regional universal bank. It offers investment banking services from its head office in Bahrain and through its wealth management and advisory subsidiary KAMCO in Kuwait and its brokerage investment company, United Gulf Bank Securities Company in Bahrain. UGB also offers limited commercial banking facilities from Bahrain and more extensively, through its commercial banking network in Jordan, Tunisia, Algeria and Iraq. UGB also manages a diversified portfolio.
SADAFCO
The restructuring process of Jeddah-based Saudia Dairy & Foodstuff Company (SADAFCO) is under way to enable it to boost its market share and reduce its losses caused by the boycott campaign that was initiated in the wake of the blasphemous Danish cartoons. Saudis form a sizeable number of employees at SADAFCO, which is planning to introduce new products across the Kingdom. “The company passed through a hard time due to the boycott and the high prices of raw materials that decreased the company’s profits,” SADAFCO CEO Anton Van Elst told reporters during their factory visit on Sunday. “We’re a 100 percent Saudi company with more than 80,000 shareholders and contribute much to the economy and social activities of the Kingdom,” he added.
SAMSUNG
Samsung has unveiled a brand new line-up of slim mobiles at the exhibition ‘CommunicAsia 2006.’ The ‘Ultra Edition’ demonstrates Samsung’s vision for the future of mobile communications in terms of technology and design. The Ultra Edition 6.9 (X820) leads the handset pack, boasting the world’s thinnest profile of 6.9 mm. Also on display is the Ultra Edition 12.9 (D900), the world’s slimmest slider with a depth of only 12.9mm and a picture-perfect 3 megapixel camera. Making its debut at CommunicAsia is the Ultra Edition 9.9 (D830), a brand new clamshell handset that is 9.9 mm thin. “Ergonomically designed, Samsung’s phones move beyond the limitations inherent in slim phones,” said Kitae Lee, president of Samsung’s Telecommunication Network Business.
ASDA’A/AUJAN
PR consultancy Asda’a has fought off stiff competition from nine other agencies in the region to clinch a contract with Aujan Industries. Driving the business for brands such as Rani, Barbican, Vimto and Hani, Aujan has already established itself as a market leader with continued expansion into new markets and further investments in their fully owned manufacturing and distribution system. Aujan’s winning 555 strategy, launched 18 months ago, has yielded unprecedented growth rates and increased revenues of almost 30 percent year on year. Aujan Industries CEO Alex Andarakis said: “In order to fulfill our vision as brand leaders, we need a partner who shares our philosophy and is capable of embarking on a journey of evolution — a service we feel confident Asda’a will deliver.”
AMG CLUB
In a step toward building strong relations between Juffali Automative Company, Mercedes Benz and existing AMG customers, the first dealer-sponsored AMG club in the world was recently opened to all AMG owners. Safi Kobeisi, GM, said that any AMG car owner is eligible to join the club by filling in the proper application. “Among the special benefits that a member receives include vehicle pick-up and drop service from customer’s house when maintenance is due, courtesy car during the duration the car is in our workshop and special discounts on both parts and regular servicing,” he said. Aside from the exclusive and private viewing of new cars in the region, members also enjoy quarterly-based training at an AMG track and an annual raffle for free VIP tickets to the Bahrain GP.
SABB
SABB has been classified as the Best Local Bank of Saudi Riyal Foreign Exchange provider in Euromoney’s 2006 foreign Exchange Awards. The Euromoney awards for Excellence are regarded as the benchmark awards for financial services globally. A research team and awards panel has been dedicated to rate all the submissions on both quantitative and qualitative factors over the past 12-month period to decide the award winners. Mohammad Al-Tuwaijri, SABB treasurer, said: “The award has been won by SABB as a result of the bank’s efforts and excellent performance backed up by a team of experienced and professional staff. This enabled it to offer an unparalleled portfolio of products, ranging from foreign exchange and interest rate protection to money market operations.”
