SIEMENS
Strengthening its relationship with the Dubai Electricity & Water Authority (DEWA) spanning 30 years and continuing its ongoing commitment to developing the infrastructure of Dubai, Siemens has announced the signing of two substantial contracts on the sidelines of the WETEX trade show. WETEX 2011, hosted by DEWA with Siemens as one of the main sponsors, focuses on the latest issues regarding water, energy technology and environment in the Gulf and provided “the ideal platform” for Siemens to announce these latest deals totaling approximately AED450 million. The first contract signed was for the design, supply, installation and commissioning of 400kV series reactors stations in the Jebel Ali and Al-Aweer Warsan areas of Dubai, in order to take pressure off of the most loaded of power systems and keep fault levels down. Wolfgang Braun, head of Siemens Power Transmission & Distribution Middle East, said: “Due to the current and expected population increase in Dubai over the coming years and the subsequent demand and pressures on the electricity and water network, this project will allow for added safety on the network and guarantee safe and secure power supply for the future growth of Dubai.” Siemens also signed a further contract with DEWA to provide a computerized multisite real-time monitoring and control system for the authority’s electric power generation and transmission network. “The Spectrum Power(tm) 4 system will enable secure and reliable electric supplies throughout the network,” said Braun.
SABB
SABB Securities Ltd. and HSBC Amanah have launched SABB Amanah Securities Services. The Shariah compliant securities services are now available globally to both Islamic investment and traditional investment managers of Islamic funds. SABB Amanah Securities Services claims has a “superior” footprint, offering Shariah-compliant fund accounting and administration, global custody, transfer agency, banking and treasury services in 17 markets across the Middle East, Asia-Pacific, Europe and the Americas. With teams on the ground in each market, our clients receive the advice and assistance they need in their own time zone, language, and currency. Karsten Stroyberg, CEO SABB Securities Ltd., says: “The team of Shariah scholars have ensured that SABB Amanah Securities Services is certified by, and strictly aligned to, Shariah principles. The launch of SABB Amanah Securities Services demonstrates our continuing commitment to offering best in class products and services that are designed to meet the needs of our customers. Customers stand to benefit from our end-to-end Shariah compliant securities services proposition, including access to HSBC Amanah’s liquidity, risk management and Shariah-compliant investment solutions.”
MICHELIN STAR
For a week from March 21, Michelin Starred Sicilian Chef Massimo Mantarro will command the kitchen at the AROMI Restaurant of Qasr Al Sharq. Executive Chef at the San Domenico Palace Hotel in Sicily, Chef Massimo will create a one-off dining experience and an authentic taste of Sicily with a modern twist. When it comes to food, Italians know best - and Chef Massimo’s bespoke menu will bring to life his ability to combine tradition and innovation, offering typical Sicilian ingredients with a contemporary slant. Responsible for winning a Michelin star for San Domenico Palace’s ‘Principe di Cerami’ restaurant, Mantarro’s use of aubergine, a mainstay of Sicilian cooking, is considered the perfect demonstration of his ability to transform the island’s cuisine while remaining faithful to its essence, and his aubergine and tomato mousse is the equivalent to gourmet heaven. Mantarro’s cream of broad beans with ricotta stuffed Savoy cabbage, Favignana tuna roe and peperoncino pistils is another 100 percent Sicilian dish which will relish you taste budsl. His culinary genius is rumored to be winning another Michelin star later this year but for now diners at AROMI Qasr Al Sharq can enjoy Chef Massimo’s magic. Based on the original restaurant at the Hilton Venice, AROMI brings its signature contemporary Italian cuisine with a Venetian touch to the Kingdom’s F&B scene. The Jeddah restaurant provides the city with a slice of Venice combined with the magnificent surroundings of the Qasr Al Sharq.
SABIC
The Saudi Basic Industries Corporation (SABIC) has announced that it took part as a Principal Platinum Sponsor in the two-day Saudi Downstream Forum and Exhibition, which was inaugurated by Prince Saud bin Abdullah bin Thenayan Al-Saud, Chairman of the Royal Commission for Jubail and Yanbu, and Chairman of SABIC, in Yanbu on Tuesday. Speaking about “SABIC’s role in Downstream Development in Saudi Arabia” at a special keynote session on Day One, Mohamed Al-Mady, SABIC vice chairman and CEO, said that SABIC and its affiliates had developed a robust “downstream model,” which has become the SABIC success story. SABIC has been the mainstay in converting associated production gas to valuable marketable products, which have enabled the development of a local industry. “This local industry has contributed to increased employment, reduced dependence on imports, and is steadily increasing sophistication of our country’s economy,” he said, citing the plastics conversion industry in Saudi Arabia as a prime example of the company’s encouragement of downstream investment. Speaking about SABIC’s future intent toward downstream development, Al-Mady said the company had pursued a deliberate acquisition strategy aimed at bringing together complementary products, skills and marketing knowledge. In order to boost downstream investment, Al-Mady suggested developing Strategically Important Clusters through Anchor Companies or Initiatives. As an example of anchor companies, he referred to a multi-product assembly line serving several automotive companies simultaneously.
OMNICOM
The 330 marketing professionals who attended this year’s Omnicom Media Group Media Innovations Forum in Dubai are the most visible sign that social media engagement features very high in brands’ marketing communications plans. While many are now active in social media, brands still need to anticipate the rapid transformation of consumer habits and attitudes in order to capitalize fully on the opportunity this medium presents. Consumer attitudes have changed as a result of technology and, according to media futurist Gerd Leonhard, we are now in a networked society where social media is creating a new “Operating System.” In his keynote address, he described how consumer attention and trust are the new currency, one that brands are starting to reward or even buy. By 2020, Leonhard predicted, social ways to pay will emerge, such as virtual currencies, data and time, replacing cold hard cash in transactions. Another key element of his address was “sharism,” where consumption and brands are shared among groups of people. “A brand that can be shared is a brand that will succeed,” Leonhard said. “We’re now living in a connected world and brands have to become connected too.” This is the very point that gave rise to the Intel initiative, detailed by Euan Wilcox, business director of The Upper Storey. The Intel Swarm saw consumers get together via social media platforms in Canada and Asia to buy Intel-powered computers at better prices. “There was a great deal of learning, particularly across countries,” Wilcox said.
PETROMIN/MAJDOUIE
Petromin, a major lubricant oil company in Saudi Arabia, has signed a five-year agreement with Al Majdouie Group to supply lubricants for Al Majdouie Transport, Hyundai Cars, QX Service and other business units. The agreement to use Petromin’s quality products and special services was signed by Sameer A. Fakeeh, VP sales at Petromin, and Syed Izhar Mustafa, VP at Al Majdouie Group. Petromin President and CEO Samir M. Nawar, said: “We have enjoyed strong business relations with Al Majdouie Group going back more than three decades and this agreement will further strengthen our relationship as maintaining the highest level of customer satisfaction is synonymous with Petromin’s philosophy. Al Majdouie VP Logistics Syed Izhar Mustafa, said: “Our 35-year business ties are the foundation of this new agreement that will provide Al Majdouie Group with extra service benefits and we look forward to seeing it become a perpetual business relationship.” Petromin, the largest local brand in the region, is a market leader in the industrial lubricants business with an unrivalled range of products. The brand is the first choice for quality products and services in Saudi Arabia and the preferred brand for business-to-business customers in all sectors including power generation, cement, petrochemicals, food, construction and automotive fleets. The product range includes automotive engine oils, automotive gear and transmission oils, industrial gear oils, turbine oils, hydraulic oils and greases.
