KEC
The Knowledge Economic City (KEC) in Madinah has signed a memorandum of understanding (MoU) in Jeddah with a consortium of Canadian educational institutions, to study the investment opportunities in KEC, in the presence of Canadian Ambassador to Saudi Arabia David Chatterson and KEC Chairman Ibrahim bin Mohammed Al-Issa. KEC CEO Tahir Bawazir, Ken Macleod, chairman of LearnCorp International Ltd. (LCI), and Magdy Elkady, chairman of CanWell Educational Consultants, sealed the agreement between KEC, CanWell, which is located in Egypt and Canada and specializes in conducting studies for the establishment, development and management of International Educational Institutes and Programs, and LCI, which is based in Canada and specializes in international educational partnerships for Canadian Educational Institutes. LCI enters this agreement as a leader of a consortium containing three Canadian universities. The accord calls for the establishment of a framework of cooperation and information exchange with the intent of developing an investment prospectus that defines a business model for various aspects of the educational solutions for the Knowledge Cluster component of KEC. The MoU is aimed at identifying investment opportunities in education services and introduce modern methods of teaching as well as attracting investors to the project.
JEC-BOEING
Officials of US-based Boeing Co. reviewed investment opportunities in logistics and spare parts during their recent visit to Jazan Economic city (JEC). They also sought mutual collaboration in the economic city’s infrastructure and other development phases. They described the investment opportunities as positive due to the JEC’s strategic location and nearness to international navigational lanes, and availability of abundant energy. Sam Bolooki, Boeing’s regional manager of business development and international support systems in the Middle East and Africa, said after the visit that Boeing was seriously discussing the available investments at JEC with its officials. “We believe this will represent a great challenge.” During the visit, the American company was represented by Boeing’s regional manager of business development and international support systems in the MEA, Steven Cooper, director of logistics, and Ross Brooks, senior manager of international business development, aside from Bolooki. Ali Raher Aldabbagh and high officials of Jazan Economic City Land Co. met the visiting delegation.
MASTERCARD
The latest MasterCard Worldwide Index of Consumer Confidence Survey was released in Riyadh last week. The survey, according to Raghu Malhotra, area business head, Middle East, Gulf countries, MasterCard Worldwide, “Consumer Confidence in the Kingdom has increased significantly and consumers appear highly optimistic about the future.” Regarding purchasing priorities, dining and entertainment, fashion and accessories, and consumer electronics, have emerged among the top spending categories for consumers across the Kingdom. Now in its sixth year in the Middle East and Levant, the MasterCard index is the Asia/Pacific, Middle East and Africa’s most comprehensive and longest running consumer confidence survey,” he added. Released twice a year, the index is based on a survey, which measures consumer confidence on prevailing expectations in the market for the next six months based on five economic indicators — economy, employment, stock market, regular income and quality of life. The index score is calculated with zero as the most pessimistic, 100 as most optimistic and 50 as neutral. Consumers in the Kingdom are highly optimistic about the next six months, he added. The overall Index score shows that consumers in the Kingdom are more optimistic about the next six months concerning regular income, employment, stock market, the economy and quality of life compared to six months ago.
NOKIA/STC
In collaboration with Nokia, Saudi Telecom Company launched Nokia Messaging service. It is a new and innovative service, which enables its customers to browse m4kom mail on STC network through Nokia cell phones. After subscribing in this services and m3kim portal, it service enables customers to send, receive and reply email messages anytime and anywhere after making the required free setup procedures for their cell phones. STC said the purpose of launching this service is to provide a variety of options to make use of its services in an integrated and direct manner. This is done through developed techniques based on modern technologies which enable customers to continuously communicate with their office, family and friends, and manage their private and public affairs through safe, highly accurate and fast channels which have robust protection software without the least violation of their privacy. Launching this service asserts Saudi Telecom’s continuous interest in providing new and innovative services, which fulfill the needs of its various segments of customers who shall get these high quality services, which shall open the field for more distinguished electronic services in the future. On its part, Nokia emphasized the importance of this strategic cooperation with Saudi Telecom to provide the most recent services for all segments of its cell phone users in the Kingdom. Such cooperation stems from the strategy adopted by Nokia to keep its customers in continuous contact with the local Saudi society through m3kom mail and Nokia Messaging.
NISSAN
The UAE chapter of the global Superbrands organization has awarded Nissan “Superbrands” status for 2010. The award follows a strict selection process by the Superbrands Council in the UAE. Superbrands status is an elite international rating that recognizes exceptional brands in many countries around the world. “Nissan has been a leading brand in the Middle East since the 1950’s and the recognition by Superbrands is a further accolade for our brand. We have been building the brand in the MENA region with the expansion of our product line-up and services,” said Atsuo Kosaka, MD, Nissan Middle East.
