The Azizia Panda United Company (APUC) received members of the Singapore consulate Jeddah and its accompanying delegation comprising heads of major companies specialized in food products, coinciding with the APUC’s 33rd anniversary. The visitors took the opportunity to study the expanding potential of the Saudi market, especially in the retail sector. APUC’s Executive President Muwaffaq Mansour Jamal and other senior executives received them and gave an overview of the company and its increasing presence in the market. They were also familiarized with the APUC’s performance and achievements, as well as its vision and future plans in the ever-expanding market.
Zamil Group hosted its second annual Family Business Conference in Alkhobar on Sunday, as its community engagement initiative. Executives from major family owned businesses in the region, as well as directors and third generation members from Zamil Group and senior non-family executives participated in the conference. Ivan Lansberg, academic director and lecturer of family business enterprise program at the Kellogg School of Management at Northwestern University and senior partner at Lansberg, Gersick & Associates LLC, was the speaker and facilitator of the conference. Ian Partridge, founder of Loedstar, SA and Family Business Circle assisted him. “Our speaker is a world-class writer and consultant on family business and we are grateful for the opportunity to learn more from each other’s experience,” said Khalid Al-Zamil, MD, strategy planning, Zamil Group. “I hope we can leverage our knowledge to better understand and resolve the challenges facing family business.” Lansberg, author of two best-selling books ‘Succeeding Generations’ and ‘Generation to Generation,’ engaged the audience with his presentation focusing on key success principles for family business, handing over and letting go, involving and motivating the next generation and intergenerational dialogue. He drew on his vast experience to answer specific questions and concerns from the audience. “These forums are excellent venues for networking and sharing solutions to our common challenges,” he added.
What may be billed a first for Saudi Arabia, KPMG tax professionals from the US together with local tax staff recently held a briefing session on the impact of the Foreign Account Tax Compliance Act (FATCA), in Riyadh recently. The session, attended by representatives from Saudi Arabian Monetary Agency (SAMA) and General Organization for Social Insurance (GOSI), provided useful insights into the impact of the proposed legislation. Potentially US’ expatriates working in Saudi Arabia and Green Card holders may be affected by the FATCA rules, which require stricter reporting requirement including obtaining account holder information which are held by US holders. Ashraf Alarabi, head of KPMG ‘s Tax and Zakat department in Saudi Arabia, said: “Applications of tax are an important aspect of any business. Today’s world governments are taking major precautionary measures to ensure that companies are complying with up-to-date trading policies. We acknowledge that businesses require more knowledge and expertise from international experts and we hope that any misunderstood issues were addressed through our workshop.” Due to various privacy rules, compliance costs and potential conflict with local disclosure rules it is important that all clients with any interest in US investments whether inbound or outbound, direct or indirect are kept fully aware of this complex and far reaching legislation in advance, he added.
The Saudi Basic Industries Corporation (SABIC) hosted a Chinese delegation, led by Li Yongwu, chairman of China Petroleum and Chemical Industry Federation, at its headquarters in Riyadh on Saturday. Prince Saud bin Abdullah bin Thenayan Al-Saud, chairman of the Royal Commission for Jubail and Yanbu and chairman of SABIC, and Mohamed Al-Mady, SABIC vice chairman and CEO, received the delegation. Li Yongwu also visited the SABIC Technology Center at the Riyadh Industrial City after a lunch reception held in his honor at the headquarters. Al-Mady said: “We are indeed happy to receive such dignitaries from China’s ever-expanding chemical industry. They reflect our rapidly growing presence in China and our ambition to be the preferred petrochemical supplier in this important country. We have embarked on a series of projects as part of our growth plans in China, including manufacturing and technology and innovation operations. Our focus remains on helping our customers create products that improve the quality of life around the world.” Li Yongwu is also the chairman of the presidium of China Federation of Industrial Economics. His earlier assignments include minister of state administration of petroleum and chemical industry, and deputy minister of the chemical industry.
GE has signed a memorandum of understanding (MOU) with the Dhahran-based King Fahd University of Petroleum & Minerals (KFUPM) to provide educational scholarships of SR12 million to 30 students over the next three years. This first of its kind initiative marks GE’s commitment to provide professional career opportunities, a first of its kind initiative by the company across the world. The initiative also underlines GE’s commitment to promote Saudi Arabian talent.
Mobily’s network in Makkah this year witnessed an increase of 225 percent in receiving international calls compared with the same period of last year, with only a few more days remaining for the deadline for Haj pilgrim arrivals, a company official said on Monday. Mobily’s Vice President of Corporate Communications and Public relations Hamoud Al-Ghobaini expects the number of calls will increase with the beginning of the annual Haj pilgrimage and assures that Mobily’s expansion of network capacity to four million calls will help boost the company’s growth. “The first indicators show that a huge number of pilgrims has registered on Mobily’s network and more than 70 towers have been added and activated to accommodate the large amount of calls and data that are being transferred via Viper Optics during Haj,” he said. Mobily has outlets in Makkah and Madinah covering all the holy sites. “Haj is worship and civilized behavior” is the slogan for the partnership of Makkah Governorate and Mobily.
Aljomaih Automotive Company, described as the largest GM dealer in the Middle East, has launched the all-new 2012 Chevrolet Sonic in the Kingdom. The Sonic is designed to be a super hit among the cars in its categories, and it will be available as the five-door hatchback and four-door sedan, both expected to offer excellent fuel economy, along with “great performance and road control.” The Sonic will be the best choice for the young people through its sporting, aggressive and unique exterior design. The 1.6-liter gasoline engine (115 hp) coupled with an automatic six-speed transmission, gives the Sonic an impressive level of speed and immediate feeling of performance. The sonic has resplendent exteriors with a curved hood, and it has motorcycle-inspired dual-barrel front headlamps and dual tail lights, in addition to progressive, raked body lines that imply performance and suggest movement even when the car is stationary. The new Sonic has an elegant interior design with an enviable space for cargo and luggage, in addition to developed entertainment and communication systems including USB, iPod and smart phones connectivity and Bluetooth. The car also offers a comfortable and safe driving experience, with soundproof measures aiming at protecting some very small parts that may get damaged with time. It is also characterized with comfortable heated front seats and collapsible rear seats in refined leather, in addition to four air bags and three-point seat belts.
This season, Splash launches a fashion collection inspired by Barbie, described as fashion icon and the world’s number one fashion doll. The ‘Barbie loves Splash’ collection reflects key elements of Barbie’s style heritage in this contemporary fashion range. The recently launched uber-stylish line is exclusive to Splash stores across the Middle East. A truly global sensation, Barbie was introduced in 1959 and since then the iconic doll has been recognized, adored and celebrated around the world, representing dozens of different nationalities throughout the decades. Fashion has always been at the core of the Barbie brand and is the appeal to women across a multitude of ages and cultures. This is well reflected in the recent collaboration with Splash. Barbie’s signature style is stamped across each trend and piece of the collection, which plays around with key aspects of the brand Barbie namely Power Pink, Luxe, Iconic, Sparkle, Shine and Playful. The collection combines key Barbie colors while presenting them in two different capsules of tops and dresses along with coordinates to complete the Barbie look. Raza Beig, CEO, Splash, said: “As a fashion brand with 18 years of high-street fashion to its credit, Splash understands the fashion sensibilities and requirements of the Middle East women. The ‘Barbie loves Splash collection is synonymous with being on trend, in style and in fashion. We at Splash are confident that the collection will be well received in the region by the discerning Fashionista.”
As the official airline of the Doha Tribeca Film Festival, Qatar Airways said it was proud to be a part of this world-class film event held in Doha. For the third year running, the airline played a major role in flying film stars, directors and celebrities from the Middle East and around the world to the capital of Qatar for the five-day festival. One of the most talked about events on Qatar’s social circuit, the airline sponsored the red carpet arrivals and the “Opening Night After Party” treating guests to its renowned five-star hospitality. And film fans keen to catch a glimpse of their favorite stars were not disappointed as many including Omar Sharif, Freida Pinto and Rob Lowe made an appearance down the celebrity-filled red carpet.
Travelport, a business services provider to the global travel industry, has announced that Galileo and Worldspan-connected travel agents globally can now benefit from enhanced connectivity on flight bookings with Saudi Arabian Airlines. Further to the 3-year content deal signed with Travelport earlier this year, Saudia has upgraded its agreement with the GDS provider, opting to leverage Travelport’s cutting-edge ‘inside availability’ technology to ensure the highest level of connectivity on all bookings made through the Galileo and Worldspan reservation systems. The enhanced functionality ensures that travel agents have real-time connectivity to Saudia’s fare inventory, providing last-seat availability, instant booking confirmations, current pricing, rules, as well as full e-ticketing capabilities for agents booking seats for their customers on any of the airline’s flights. Travelport is also able to offer “drop-through” functionality whereby approved agents will be able to service and ticket bookings originally made directly within Saudia’s reservation system, helping boost efficiency and customer service. Drop through is particularly useful for agents making large group bookings, such as Haj and Umrah. Complementary solutions such as Inside Availability and Drop Through offer airlines the opportunity to boost operational efficiency by enhancing their distribution capabilities,” said Will Owen Hughes, senior director of airline services, MEA, Travelport.
Alinma Bank has announced the names of branches that will remain in operation during the Eid Al-Adha holiday, thus allowing bank partners (clients) to take care of important financial business and to take advantage of all services provided by the bank. In particular, Alinma aims to ensure that pilgrims in Makkah and Madinah will have access to financial services. Therefore, the Al-Aziziyah branch in Makkah and the Khalidiyah branch in Madinah will be open for business from 10 a.m. to 2 p.m. throughout the Eid holiday, including Thursday and Friday. Other branches operating during the holiday include Takhassusi branch in Riyadh, Tubaishi branch on Prince Mohammed Bin Fahad Road in Dammam, and Rawdah branch on Sari Street in Jeddah. These three branches will be working throughout the holiday from 10 a.m. to 2 p.m. except Friday and the first day of the Eid. As always, Alinma’s self-service channels - Alinma ATMs, Alinma Phone (8001208000), Alinma Internet (www.alinma.com), and Alinma Mobile - will be available around-the-clock. Alinma Bank extends its most sincere Eid greetings to Custodian of the Two Holy Mosques King Abdullah, Crown Prince Naif, deputy premier and interior minister, and all the people of Saudi Arabia.
Two of Arab National Bank’s (ANB’s) customers Ferdous Q. Hanif, Indian, and Yaser M. Elias, Pakistani, have won the grand prize of the TeleMoney’s marketing campaign “Win with TeleMoney. Each won a 2011 Chevrolet Cruise. Other 178 customers also won cash prizes. The campaign aimed to enhance customer awareness of ANB’s TeleMoney Services products and features as part of the bank’s regular marketing programs to reward customers for their loyalty and enhance customer interaction. Mousa Alaskar, head of TeleMoney Product, said, “TeleMoney is one of the fastest and most secure remittance services in the market, Arab National Bank was one of the first pioneers to launch its service in 1992. We are keen to develop and modernize the service continuously, whether in terms of the remittance system used, adding more correspondent banks to our network and/or diversifying remittance options.” The bank provides its customers with multiple remittance options in a fast, reliable and secure manner through 86 dedicated TeleMoney centers and 24/7 remittance through ‘ANB net,’ ANB phone banking and ANB ATM network of more than 830 ATMs across the Kingdom.
