Minister of Education Prince Faisal bin Abdullah bin Mohammed has commended the Procter and Gamble (P&G) funded Jeddah Science Innovation Club for expanding and promoting the education of young national talent. The club offers up-to-date forward-thinking science programs designed to hone and perfect the skills of Saudi students. The minister was given a tour of the club’s many educational facilities and shown a short film. The minister and Makkah Region’s Education Director Abdullah Ahmed Althagafi expressed their appreciation of the club’s contribution. Established in June 2006, the club plans to realize a number of goals that include participating in reviving leadership in science, raising a creativity-oriented generation of students by developing their creative abilities through utilizing interesting and advanced scientific programs, and honoring local and international achievements in science. The club is achieving its goals in preparing and qualifying top caliber students. Around 200 of the club students have won top awards in local and international contests. The club encompasses computer, biology, mathematics and astronomy labs, as well as instruction and lecture rooms, workshops and a science library. Modern Industries Company (Tide) and its sister company Modern Products are manufacturers of household products such as Tide, Ariel, Pampers, Always, Pantene and Head & Shoulders, which they manufacture at world-class production facilities in Jeddah and Dammam.
Atraftah Co. Ltd. has won a contract to design a facility for Lexus used cars. This is its fourth contract over the last three years with Lexus, which is exclusively distributed by Abdul Latif Jameel Company Ltd. (ALJ) across the Kingdom. Atraftah GM Fahd Momenah expressed his full satisfaction over the four Lexus contracts the company has signed so far. “This reflects the confidence reposed in our company, especially its expertise, by Lexus, one of the strongest Japanese brands, to provide unique showroom designs of the highest levels speedily,” Momenah said. The first contract between Lexus and Atraftah was signed in 2007, which involved decoration and graphics at the branch located in Jeddah’s Auto Mall. The contract was the first signed by Atraftah with ALJ. The company completed the design of the showroom for Lexus used cars in late 2008, and also executed another project at the Lexus branch on Madinah Road in Jeddah in 2009. “Lexus showrooms are masterpieces. They include the finest and most prestigious Japanese luxury cars,” Momenah added.
Bupa Arabia, described as the Kingdom’s first health insurer, will organize a series of first aid seminars for its members in Riyadh, Jeddah and Alkhobar. The seminars, which are organized in partnership with the Saudi Red Crescent Authority, aim to spread first aid literacy throughout the Kingdom. “A wider knowledge of first aid could save thousands of lives in Saudi Arabia each year. This is the reason behind Bupa Arabia organizing these seminars for its members,” said Salim Mansour, its head of corporate relations. “One of Bupa Arabia’s prime objectives is to establish a culture of awareness in Saudi Arabia.” The first aid training is part of Bupa Arabia’s Total Wellness program, which stands in line with the insurer’s efforts to give back to the community it serves in. Bupa Arabia has organized several health awareness seminars and campaigns on topics such as swine flu, diabetes, heat stroke and asthma in the context of this program. “Our members will receive practical as well as theoretical training on how to respond to respiratory, cardiac and environmental emergencies. The training will also include cardiopulmonary resuscitation as well as the treatment of burns, poisoning, fractures and bleeding,” Dr. Sherif Mahmoud Al Affifi, health expert at Bupa Arabia, said. “In order for our members to benefit the most, all participants will undergo an exam at the end of the seminars.” Bupa Arabia is an organization that has evolved around its clients and provides expertise for life.
Abu Dhabi National Insurance Company (ADNIC) has joined hands with Bawadi Mall, described as Al Ain’s leading and largest shopping mall, to launch a Ramadan campaign which allows shoppers to win a cash discount voucher from ADNIC to insure their motor vehicle during the month of Ramadan. This collaboration with Bawadi Mall is in line with ADNIC’s vision to provide clients with special offers as well as high quality insurance policies backed by excellent service. This also matches Bawadi Mall’s strategy to partner with prominent brands and organizations to provide shoppers with exciting and rewarding offers. The 30-day promotional campaign, which runs from the first day of Ramadan, allows Bawadi Mall shoppers spending AED400 at any of its outlets to win a cash voucher worth AED200 from ADNIC for a comprehensive insurance policy for their motor vehicle. Shaikh Ahmad, chief business development officer at ADNIC, said: “This campaign, the first of its kind in the insurance industry, is just the beginning of several offers we aim to launch in the future.” Khalid Shraim, marketing manager, Bawadi Mall, said: “As a destination that believes in providing new attractions and good prices, Bawadi Mall is always keen to co-organize campaigns like these with the support of partners such as ADNIC. It is a matter of pride to add ADNIC to the prestigious brands that we collaborate with.” Prominent brands have made their debut in the Al Ain city through Bawadi Mall, such as Zara, Mango, MAX , Marks & Spencer, Kotton, New look, H&M, and ACE amongst others.
Bahrain-based Gulf Finance House (GFH) has reached a formal agreement with the WestLB syndicate for a new $100 million Murabaha Facility Agreement. The deal is for a two-year period with an additional one-year term at GFH’s option, which is up to three years in total at a reduced profit rate. GFH Chairman Esam Yousif Janahi said: “GFH is extremely pleased to have successfully reached a deal to restructure our WestLB facility and we extend our sincere thanks to the syndicate members for their kind assistance. The Board has confidence in GFH’s ability to manage both its debt and capital adequacy requirements going forward. It is our intention to take additional steps to strengthen our capital base and further announcements will be made shortly.” GFH Group CEO Ted Pretty added: “We have now achieved our objective of spreading the tenor of nearly all of our obligations and we will continue to steadily strengthen our liquidity position as we concentrate on developing our new business model. We would like to thank the syndicate members and WestLB as syndicate agent for their significant efforts and support.” David Pepper, MD, loan syndication — EMEA, WestLB, said: “We are pleased with this result and appreciate the work of the syndicate members and GFH in concluding this arrangement.”
Inmarsat, a provider of global mobile satellite communications services, has contracted with The Boeing Company for the delivery of three state-of-the-art 702HP Ka-band satellites. The Inmarsat-5 constellation will enable Inmarsat to provide a global high-speed mobile broadband service offering. With operations expected to start in 2014, Inmarsat-5 will support a next generation global service, Global Xpress, which will target a $1.4bn incremental market opportunity in VSAT services. Global Xpress will address the established, growing markets for VSAT services in the Maritime, Energy and Government sectors, with further growth potential in developing markets such as the Aeronautical sector. Global Xpress will deliver seamless global coverage and unprecedented mobile broadband with speeds up to 50MB/s, to customer terminals from 20-60cm in size. Inmarsat will target $500m of annual Ka-band revenues five years after global service launch. Under a separate arrangement, Boeing has agreed to become a distribution partner for both Inmarsat’s Ka- and L-band services and has pre-committed to capacity purchases representing more than 10 percent of Inmarsat’s target Ka-band revenues in the first five years after global service launch. Inmarsat Chairman and CEO Andrew Sukawaty said: “This is a new investment for new growth. With the Global Xpress network, we will be the first operator to offer global mobile broadband coverage, offering unparalleled speeds and bandwidth to customers in remote locations around the world.”
ABB, a power and automation technology group, has won a $20 million contract from Saudi Petrochemical Company (Sadaf) to implement a power factor correction and power management solution at the company’s Jubail manufacturing complex. ABB’s solution will help Sadaf improve its network efficiency and, accordingly, significantly reduce the electricity losses while improving the stability of its power supply. Owned jointly by Saudi Basic Industries Corporation (SABIC) and Shell Chemicals Arabia LLC, Sadaf was established in 1980 and began commercial operation in 1986. The company operates from one of the world’s largest and most competitive petrochemical complexes in Jubail industrial zone on the eastern coast. Sadaf’s six, world-scale manufacturing plants produce over 4.7 million tons of basic petrochemicals a year, primarily sold to customers in Asia Pacific.
“Petrochemical facilities are very energy intensive and any variation in power factor will result in higher losses and reduced transmission capacity,” said Ali Al-Saif, group vice president and global account manager for SABIC. “By providing reliable power factor correction solutions and infrastructure, we are helping our customers such as Sadaf to optimize the productivity and efficiency of their operations as well as realize significant cost savings.” ABB’s contract is a lump sum turnkey project. The power factor correction solution will consist of nine banks of correction equipment totaling 109,8 MVAR.
For the eleventh year in a row the National Home Health Care Foundation — Western Province, is hosting its annual Magic Carpet Festival during Ramadan. This year the event is featuring a special addition with the participation of Rubaiyat and the launch of an exclusive auction with eight signature pieces from top designers around the world. “We’re pleased with the participation of Rubaiyat and congratulate them on their 30th anniversary,” stated Princess Adelah bint Abdullah bin Abdulaziz, president of the National Home Health Care Foundation, Western Province. “We look forward to the hosting of the auction and the further support it will provide to the foundation in terms of further funding for our patients programs and support,” she added. “With the celebration of Rubaiyat’s 30 years we wanted to recognize this special milestone with a key initiative that gives back to our community,” stated Wafaa Abbar, president of Rubaiyat. As part of our celebration a number of the key designers globally have presented us with exquisite one of a kind signature pieces to be auctioned off with the proceeds all going for the benefit of patient care programs for the National Home Health Care Foundation - Western Province.” Every year the public awaits the annual Magic Carpet event with anticipation with its vast array of goodies and merchandise that is brought in by various small and medium sized businesses and entrepreneurs focusing on various Ramadan and traditional items.
Khalid Bin Shaheen, SEVP/Group Chief Global Home Remittances Management Group, recently launched state of the art, instant, reliable, convenient and absolutely free remittance product with the brandname “NBP FOREE CASH.” Speaking on the occasion, Shaheen said: “NBP Foree Cash is an instant cash to cash remittance delivery product through which beneficiary from across Pakistan can receive home remittances in minutes from their loved ones abroad. NBP Foree Cash provides a unique combination of instant availability of funds through latest technology with absolutely no service charge together with the reliability of NBP brandname. On the remitting side, NBP Foree Cash due to its unique and flexible IT platform has the capability to get integrated with remitting financial institutions from across the globe” He also announced the integration of NBP Foree Cash with Al-Rajhi Bank and hoped that collaboration between the largest Islamic bank in the world and the largest commercial bank in Pakistan will provide the best of product and services mix to the large Pakistani community living in Saudi Arabia for sending instant remittances to their families at home.
