MODON
With the support of Al-Kharj Gov. Prince Abdulrahman bin Nasser, Minister of Commerce and Industry Abdullah Zainal Alireza, who is also the chairman of Saudi Industrial Property Authority (MODON), signed two agreements for new development projects for Al-Kharj Industrial City. The first project costing SR180 million is for building an express highway and overpasses connecting the city, while the second SR75.5 million project is for setting up an electrical energy transmission station. The agreements were signed in the presence of Modon’s Director General Tawfig bin Fawzan Alrabiah and officials, and executives of companies executing the projects including Mohamad Al-Ali Al-Suwailem Co. for trading and contracting, represented by its Chairman Ali bin Mohamad Al-Suwailem and Arabian Electrical Equipment Company Ltd., represented by VP for Energy Transmission Sector Sikandar Haneef Bhatti. These projects follow a series of achievements MODON has made in the past year since the work started for the development of infrastructure for the first phase of the city on an area of five million square meters and costing SR54 million. The total cost of projects for the city amounts to SR350 million including the cost of a water purification plant and operation of water utilities. The road project includes building 25 kilometers long express highway of three lanes in each direction with three over-head intersections (bridges).
INSURE DIRECT
Insure direct (Brokers), Dubai-based leading supplier of insurance broking services, was named the Commercial Lines Broker of the Year at the inaugural Gulf Insurance Awards, held in Dubai recently. Instituted by Gulf Insurance Review (GIR), a leading insurance industry magazine, the award recognized Insure Direct’s excellent performance in product and service innovation during the period. The panel of judges also considered the leading broker’s facilitation of significant new partnerships, the development of existing long-term relationships, innovation in niche markets and activity in underserved areas of the regional market. Kenneth George Maw, president and chief executive, Insure Direct, who was also the runner up in the “Outstanding Contribution - Individual” Award Category, received the award at a gala ceremony held recently in Dubai. Maw said: “This award, coming from a prestigious industry magazine, is a great honor and a reaffirmation of Insure Direct’s commitment to excellence through innovation. From the beginning we have been focused on identifying new areas and creating niche specific products. The pace of our expansion proves the success of this strategy.”
NCB
The National Commercial Bank (NCB) recently revealed the list of the 100 fastest growing companies in the Kingdom and announced The Rumman Company as the winner of NCB’s 2010 Saudi Fast Growth Start-Up Award. The announcement was made during a celebration held in Riyadh on the sidelines of the Global Competitiveness Forum, which was attended by more than 600 local and international business leaders, academicians and government officials. NCB CEO Abdulkareem Abu Alnasr, who presented the award to Rumman Company CEO Enas Hashani, said the award was meant to support promising emerging companies and provide young start-ups with an incentive to leverage on creativity and innovative capabilities in bringing and implementing entrepreneurial initiatives. The contest, he said, highlights the achievements of emerging companies, the sustainable growth they demonstrated in previous years and their success in creating job opportunities on a national level. He added that the list of the fastest growing 100 companies in Saudi Arabia had shed light on a promising generation of Saudi companies with a fresh spirit for innovation and a serious vision for growth and development of human competencies. “The proliferation of such companies heralds a new era of self driven entrepreneurs who can actively contribute to shaping the Saudi business scene and building the country’s competitiveness in the future.”
STC
Saudi Telecom Co. (STC) has reduced the cost of its high-speed broadband due to the tremendous success in attracting customers. Through AFAQ SHAMEL DSL, subscribers can now enjoy surfing the Web and uploading and downloading programs at the high-speed of 4MB/S. STC is offering this unlimited Internet service along with free installation of a new improved modem plus free M3com portal services. Furthermore, multiple computers can be connected simultaneously to the same connection allowing families to profit from unlimited Internet access. Through the competitive prices STC is offering for its improved broadband service, subscribers can quadruple their speed from 1MB/S to 4MB/S by paying a minimal difference of only SR 33 to get the best service in the Saudi market. Customers can at last enjoy secure high-quality, high-speed Internet without the hassle of pre-paying subscription fees. With the enhanced broadband service STC customers can access the Internet at all times without worrying about occupying their landline or constant loss of connection. Moreover, the new modem allows multiple users to connect to the network wirelessly by saving the username and password so that the computer can automatically connect to the Internet once switched on. Subscribers are guaranteed a full year of excellent Internet service and can receive video and audio technical support and after-sales service for free within 24-hours of purchase. Customers can subscribe to DSL, AFAQ, SHAMEL and increase their speed to reach 4MB/S by calling 907.
GRC
In the 2009 Global “Go-To Think Tanks” survey of the Think Tanks and Civil Societies Program of the University of Pennsylvania, the Gulf Research Center (GRC) has once again been recognized as one of the leading think tanks in the Middle East and North Africa and as first in the Gulf. The new survey results were released in New York recently. In total, the study identified more than 6,300 think tanks worldwide of which 392 were eventually nominated for consideration as one of the leading think tanks in the world. As far as the Middle East is concerned, there are a total of 273 think tanks with 25 identified in the GCC countries. Of these, three UAE-based think tanks were ranked in the top 25 of the Middle East with the GRC placed as fourth overall and first in the Gulf. GRC Chairman and Founder Abdulaziz Sager said: “It’s indeed an honor to be recognized, which is a reflection of the hard work and dedicated commitment by all those that have contributed to the GRC’s success.” He also stressed that such ranking reflected the essential need for independent and objective research and analysis when it comes to the strategic Gulf region and the importance to disseminate non-partisan regional views to the global mainstream. The GRC is an independent research institute based in Dubai. Currently, the GRC maintains seven key research programs focusing on security and defense issues, the GCC economies, Gulf-Asia relations, GCC-EU relations, science and technology, the Gulf environment and Gulf-Africa Relations.
KPMG
KPMG Al-Fozan & Al-Sadhan recently received the King Khaled Responsible Competitiveness Award for being the “Best Firm in the Kingdom to Attract and Retain Talent.” The award is given to the companies with the strongest performance on the Saudi Responsible Competitiveness Index. These are typically companies that have made the most progress at aligning core operations to environmental and social development. Eighty companies, with an estimated combined turnover of over $73bn, participated in the 2010 Saudi Responsible Competitiveness Index, making it the premier responsible business initiative in the Kingdom and indeed in the Arab World. Despite the current post-crises market conditions, businesses participating in the index are making good progress at creating a culture of responsible business practices. The index highlights many success stories from the Saudi business community, all recognized for their contributions to sustainable competitiveness in the Kingdom. The King Khaled Foundation and the Saudi Arabian General Investment Authority (SAGIA) lead the initiative. It is supported by the international think-tank Accountability that has developed an internationally benchmarked methodology, customized for local conditions in the Kingdom, and designed to promote learning in participating companies. Chairman and senior partner Abdullah H. Al-Fozan received the award on behalf KPMG in Saudi Arabia from Prince Faisal bin Khaled Al Saud, founder, King Khaled Foundation for Responsible Competitiveness, and SAGIA Gov. Amr Al-Dabbagh.
AEME
American Express Middle East (AEME) has announced the appointment of William C. Keliehor as the new CEO based in the organization’s regional headquarters in Bahrain. Keliehor brings with him over 19 years of multinational experience, with global leaders in the financial services and payments industry. In his new role, Keliehor will be providing strategic direction with a focus on growing the card and merchant business across the company’s 18 markets in the MENA region by continuing to increase American Express’ presence, looking at new revenue streams while maintaining the unparalleled levels of service associated with the premium brand of American Express. Keliehor said: “I am delighted to have joined American Express Middle East and am looking forward to working with the team to draw upon their collective expertise and skills in the payment industry and lead the organization in its quest to significantly grow the business across the region.” As a long-standing player in the Middle East payments industry, American Express is a leading provider of premium products and services that meet the sophisticated lifestyle of the affluent and discerning segments of this region’s population. “The American Express charge and credit cards are preferred methods of payment chosen by customers who appreciate flexibility, prestige, innovation, exclusivity and unparallel personal service,” Keliehor said.
