Osamu Miura, managing director, Sony Gulf FZE, said: "As a leader in innovation, Sony developed the new line of cameras so that anyone — seasoned or amateur photographers — can easily capture DSLR quality images.
For photographers who are new to extensive manual controls on a camera, the NEX series offers a sleek form factor, as well as user-friendly settings that allow them to capture professional photos effortlessly. For experienced photographers, the lightweight NEX series offers serious DSLR performance in a camera that they can easily carry with them at all times."
National Chemical Carriers Ltd. Co. (NCC), a subsidiary of The National Shipping Company of Saudi Arabia (NSCSA) last week signed with Daewoo Shipbuilding and Marine Engineering Co. Ltd. a contract worth SR245 millions to build a specialized chemical tanker. The vessel will be the largest of its kind, to be built to the latest technology this industry has in engineering, equipment and design. The vessel will be classed by DNV with full IMO 2 notations and 75,000 DWT with cargo capacity of 86,000 cubic meters comprising 31 fully segregated coated cargo tanks. Delivery expected during 2013 and NCC has the option for a second vessel to be declared at a later date. The vessel will be commercially operated with another sister ship by "NCC ODFJELL Chemical Tankers JLT", located in Dubai and owned jointly by NCC and its long-term strategic partner ODFJELL SE of Norway. ODFJELL had also contracted similar ship with Daewoo for delivery during 2013, in addition to option for a second vessel.
MEMAC Ogilvy Public Relations held its first annual Middle East and North Africa conference in Cairo. The conference brought together PR professionals from around the Middle East and North Africa who spent two full days on workshops and seminars conducted by the Ogilvy network's best and brightest. The conference's primary aim was to further strengthen ties within the regional network while providing global context and plan the implementation of a five-year plan to raise the bar on public relations practice in the Middle East. Participants relished the opportunity to truly engage with professionals outside of their home markets and share best practice. Additionally, a large part of the agenda was dedicated to learning and discussing new market trends and innovative communications services that each participant will take back to his/her home market to implement. A prestigious line-up of Ogilvy PR Worldwide executives attended and led these trainings.
AL-RAJHI Capital, the investment banking subsidiary of Saudi Arabia's Al-Rajhi Bank, has issued an in-depth research report on Herfy, the only listed fast food company on the Tadawul. The 16-page report entitled "It's Getting Better", highlights Herfy's strong performance, future prospects and potential for share price appreciation. The report initiates coverage of Herfy with an Overweight rating and sets a target price of SR89.6 for the stock, implying upside potential of 21.9 percent from current levels. Herfy is trading on a 2010 EV/EBITDA multiple of 11.9x, a 2010 PE ratio of 15.2x, and offering a dividend yield of 4.4 percent. While no longer cheap, Herfy's valuation is in line with that of international peers such as McDonalds and Burger King. Al-Rajhi Capital valued the stock using a combination of long-run discounted economic profit and comparative multiples analysis and its favorable view is based largely on factors which include: The company's strong operational performance, good dividends, sound levels of transparency as well as future growth levels which are expected to be robust.
DURRAT Marina, the comprehensive real estate development firm, has signed an agreement with the Bahrain-based Beaucraft company under which Durrat Marina will get the consultancy and advisory services it requires to develop the marina which is part of its mixed use Durrat Marina development project.
The agreement will not only consider the marine aspects of the marina, which will be one of the most developed/planned marina in the region, but also to coordinate and offer consultancy and advisory services to develop the facilities within the project such as the yacht club and the maintenance center, as well as the retail, F&B and commercial area within the project. Waleed Saffy, CEO of Durrat Marina, said: "Durrat Marina is taking all steps to ensure providing the best solutions and most convenient environment to our clients who will own homes and apartments in this prestigious water front development."
Ford Middle East has announced applications are open for the 2010 Ford Motor Company Conservation & Environmental Grants program. Selected projects from the GCC, Lebanon, Jordan and Syria will share a total of $100,000 in grants money. The region's only private sector initiative of its kind, in its 11th consecutive year, the Ford Grants have granted nearly $1 million since 2000 to more than 110 grass-root level environmental initiatives, generating real impact among local communities in the GCC and Levant countries. "We have been running the Ford Grants uninterrupted, for more than a decade, and we are proud to have supported significant environmental projects here in the region," said Larry Prein, Ford Middle East's managing director. For this year, applications are accepted until Sept. 15, 2010. Grants will be made available to individuals, community and non-profit groups.
The Zahid Group was honored to have one of its own, Z.K. Raychouni, receive the award for the Kingdom Human Resources Director of the Year for 2010. The award was given at the second annual Kingdom of Saudi Arabia HR Gathering & Awards Ceremony held at the Crowne Plaza Hotel in Jeddah recently. Amr Khashoggi, Zahid Group vice president of corporate affairs, said: "This prestigious award recognizes Dr. Raychouni's tireless efforts and commitment to ensuring that the Zahid Group consistently employs, trains and develops talented young Saudis. In addition, it accentuates the other excellent achievements of Zahid Learning Center, which under the leadership of Raychouni, has developed into an internationally respected institute, staffed by highly competent and committed personnel." Raychouni on his part said, "This award does not reflect the efforts of an individual; it highlights and recognizes the work of a dedicated team."
