Bindawood chain held a function at its Alhamra supermarket in Jeddah last week to mark the end of a marketing contest, which lasted for five months. 2006 model cars were distributed as prizes to five winners - Salem Abdulrahman Al-Oqaili, Atef Halwani, Mohammed Sajid Juma Khan, Ahmed Saleh Omer Al-Mashjeri and Kafah Muhammad Abdullah. Hassan Bindawood and Dawood Bindawood, and Jeddah Chamber of Commerce and Industry representatives, honored the companies that sponsored the promotion and presented certificates to winners. Amer Hallak, administration manager of Bindawood, conducted the proceedings and referred to the support received from official agencies for the chain’s activities including the competition and occasional discounted sales. Bindawood executives present included Ahmed Abdul Razaq Bindawood, Waleed Abdul Razaq Bindawood, Tamer Essam Nayta, Khaled Muhammad Nawab and Wisam Muhammad Nawab.
LG
LG Electronics (LG) has announced its key goals for 2007 as well as its management and investment plan. The company plans to increase its competitiveness through increasing the profitability of the mobile handset business and the market share for its LCD TVs. It will ship 78 million units of mobile handsets this year, an increase of 20 percent compared to last year. As for flat-panel TVs, LG aims to sell a total of 10.5 million units including 2.5 million Plasma TVs and 8 million LCD TVs. “LG will expand its global reach in all business areas, increasing its revenue, market share, profits, growth rate and shareholder returns,” said Yong Nam, vice chairman and CEO, LG, at the 2007 International CES in Las Vegas. “We will accomplish this by creating value for shareholders, customers and employees.” LG’s sales goal is $44.5 billion this year, which would represent a 15.3 percent increase over last year’s $38.6 billion. The company plans to make new investments this year.
DEUTSCHE BANK
Deutsche Bank has received a license from the Qatar Financial Center Authority to offer financial services in the Gulf state. The license clears the way for the bank to open its third full branch in the Gulf. Qatar is undergoing a dramatic transformation as its economy grows and diversifies and the bank aims to make a valuable contribution to supporting this process, offering sophisticated capital market products for both institutional and private clients. The bank already has established branches in Dubai and Riyadh. In addition, the bank has a network of cross-divisional representative offices in Abu Dhabi, Egypt, Bahrain and Iran. “By licensing in the Qatar Financial Center, we demonstrate both our commitment to developing the bank’s infrastructure in the region and our belief in the exciting growth prospects for Qatar,” Juergen Fitschen, a member of Deutsche Bank’s Group executive committee, who received the license in Doha, said.
MARINA WEST
Marina West, Bahrain’s first residential beachfront community to be located on the Kingdom’s west coast, has launched sales of the development’s luxury freehold apartments, duplexes, simplexes and penthouse suites. Accelerated ahead of official ground breaking, the launch responds to high demand registered from presales activities undertaken by exclusive sales and leasing agency, Asteco Property Management. The 1, 2, 3 and 4 bedroom freehold residences currently available within the 75,000 square meter masterplanned gated community begin at a price of 47,000 Bahraini dinars with floor space ranging in size from 92 to 447 square meters. Owners of the luxury residences which will be set in tranquil and idyllic coastal surrounding will also be able to enjoy a full range of recreation, leisure and entertainment facilities and numerous up market retail outlets, according to Ahmed Abubaker Janahi, chairman and CEO, AAJ Holdings Company.
SAMSUNG
Samsung Electronics Co. Ltd., a provider of modern telecom systems and mobile phones, and Bayanat Al-Oula for Network Services, an emerging alternative telecom services provider in the Kingdom, signed a contract to deploy the largest Mobile WiMAX network in the region. According to the agreement, Samsung will supply Mobile WiMAX equipment and devices to Bayanat Al-Oula over a two-year period beginning in 2007. This partnership will result in the largest Mobile WiMAX deployment in the Middle East region. Bayanat Al-Oula plans to launch commercial services based on Mobile WiMAX technology in four major cities — Makkah, Riyadh, Jeddah and Dammam in 2007. Services will then be expanded nationwide. Since the establishment of Bayanat Al-Oula in 2004, it has been actively developing its networks and operations to serve the Saudi Market and has accomplished a number of important milestones, said Abdulmajeed Elshawa, CEO of Bayanat Al-Oula.
MEBAA
Ammar Balkar, former vice president sales and marketing of Abu Dhabi-based Royal Jet, has been named first president and CEO of the recently-formed Middle East Business Aviation Association (MEBAA). Balkar, takes up the new post after an extensive career in aviation throughout the Middle East including managerial roles in start-up executive jet service providers. Prior to accepting this, he had also spent his whole working career in aviation, starting with Royal Jordanian airlines and gaining wide-ranging experience in commercial airlines, corporate jets and helicopters. This included assisting in the formation of three business jet start up companies in the Middle East, the latest being Royal Jet in Abu Dhabi, where he held the post of vice president for sales and marketing and was on the executive management board.
CIE
University of Cambridge International Examinations (CIE) yesterday announced the appointment of Chris Daw as its new regional manager for Middle East and North Africa. Daw will be based at CIE’s Dubai office. Her role will involve focusing on improving customer service and building relationships with schools, colleges and educational organizations in the region.
