RIYADH, 5 May 2008 — Finance Minister Dr. Ibrahim Al-Assaf will inaugurate the Euromoney Conference tomorrow in Riyadh. A total of 1,000 delegates from 41 countries will be participating in the conference said to be the only internationally organized investment forum focusing exclusively on the Saudi financial sector. Khalid Al-Gosaibi, minister of economy and planning, will address the current inflationary pressures in the Kingdom and monetary policy among other issues. SAMA Governor Dr. Ahmed Al-Sayari and SAGIA Governor Amr Al-Dabbagh will also take part in the discussions during the course of the conference sessions, Richard Banks, director of Euromoney Conferences Middle East.
Zamil Unveils Joint Venture With Hudson
DAMMAM, 5 May 2008 — Zamil Industrial has announced the launch of a new 50:50 joint venture with Hudson Products Corporation — through its affiliate Hudson Products Middle East LLC, a world leading manufacturer of Air Cooled Heat Exchangers. The total investment in this venture is SR75 million ($20 million), and will be financed through a combination of equity funded by the partners and loans compliant with Shariah.
Aljawal Installs New Recharge Machines
RIYADH, 5 May 2008 — Aljawal has supplied more than 3,000 automatic recharge machines for SAWA prepaid cards to its sales outlets, malls and authorized dealers throughout the Kingdom. The machines use an electronic prepaid voucher that includes a serial number to recharge SAWA prepaid or postpaid services electronically, eliminating the need for prepaid scratch cards and enabling postpaid customers to stay connected even if they pass their credit limit.
ATM Set to Begin
DUBAI, 5 May 2008 — Several countries and prestigious firms will showcase a number of projects and surprises at the Arabian Travel Market (ATM) 2008, the region’s leading travel and tourism exhibition to held at the Dubai International Exhibition and Convention Center. The event opens tomorrow and will last until Thursday. It is expected to attract nearly 23,500 industry players from over 100 countries.
