Abbar & Zainy Electric & Air Conditioning Co. hosted a technical seminar on a new technology related to AC systems in Jeddah last week. This new ‘environment friendly’ technology is provided by Daikin, a Japanese leader in the AC industry, and distributed in Saudi Arabia by its sole agent Abbar & Zainy Co. The seminar focused on “VRV II High Tech Systems” and the use of the R-410A environment friendly refrigerant. “A regional bureau for Daikin is now based in Dubai to give service to clients in the GCC, in terms of supply, training and support,” Daikin Europe NV Middle East Office GM Saidja Geirnaert said. “Daikin provides a new generation of AC systems with ‘I Touch Controller,’ ‘I Manager,’ and DS-NET of VRV II using an environment friendly refrigerant.”

MYNM

Mohamed Yousuf Naghi Motors (MYNM), the exclusive dealer of BMW, MINI and Rolls Royce in Saudi Arabia, has reported a 19 percent increase in BMW sales for the first quarter of 2006. This “unprecedented success” is attributed to a strong sales growth of BMW 5 and BMW 7 Series models. “The first quarter has delivered record sales compared to the same period last year,” said Mousa Al-Aruri, GM, MYNM. “BMW Group Middle East identified the Kingdom as one of the key markets for the region during the recent visit of its Managing Director Guenther Seemann to discuss future plans for the region,” he added. “This marks Seemann’s second visit to the Kingdom in three months and confirms the commitment of BMW Group Middle East to maintain its position in this market.”

GLOBAL-BATELCO

Global Investment House (Global) announced on Monday that it sold its stake in a Jordanian mobile telecommunication company that it acquired last September to Bahrain Telecommunications Company (Batelco). Global and Batelco signed the sales agreement in Amman by which the latter will buy Global’s 14 percent stake in Umniah Mobile Telecommunications, receiving an expected net profit of 7.5 million Kuwaiti dinars ($25.9 million). Maha K. Al-Ghunaim, Global’s vice chairman and managing director, said the company purchased the shares in September due to the promising investment prospects it represented and as part of Global’s expanding investments in the Hashemite Kingdom and the MENA region.

MODHESH

The National Home Health Care Foundation of the Western Province recently received Modhesh, the Dubai Summer Surprises (DSS) Mascot during his GCC wide tour culminating in Jeddah. Modhesh met with more than 50 patients cared for by the foundation at the King Abdul Aziz Hospital’s tumor center. Patients with ages ranging from toddlers to 12 year olds expressed their excitement at meeting the Modhesh. Modhesh’s visit comes as part of DSS efforts in reaching out to all children across the region and bringing to them fun and enjoyment. “The response from the children was simply overwhelming. It just shows how Modhesh has become a source of inspiration and joy for children all over the region,” said DSS Executive Project Director Laila Suhail said.

JORDINVEST

Jordan Investment Trust (Jordinvest), which strives to yield economic reform for Jordan by promoting a strong and healthy investment infrastructure both within the country and the region, discussed venture capital development at the Jordan National Investment Reform Agenda Workshop in Amman recently. The achievements of Jordinvest were highlighted at the “Growing Business in Jordan” Investment and Trade Forum organized by the Organization for Economic Cooperation and Development (OECD) as part of its investment program at the workshop, an event which served as an arena for showcasing business development opportunities in Jordan and the region at large. In a panel discussion entitled “Venture Capital Funds: Creating an Enabling Environment,” Jordinvest Chairman & CEO Ahmad Tantash spoke at great length about the possibilities of promoting the venture capital environment in Jordan and how such environments would help small and medium sizes ventures prosper to further enhance the Jordanian economy at large.

MEPRA

The Middle East PR Association (MEPRA) has published its first “Agency Fees & Charges Guide” in an effort to encourage transparent dealings between PR agencies and their clients in the region. This follows the growing demand for knowledge regarding PR agency practices from both PR practitioners and buyers of PR services. The guide aims to give agency clients a clear idea on different agency billing practices and prevailing industry rates for PR services. The guide will also ensure that basic information on agency billing practices is freely available and so reduce any market speculation or confusion. “PR has become a fast growing industry, although there is still a lack of basic knowledge and information regarding PR practices,” said MEPRA Chairman & Headline PR MD Sadri Barrage.

AUSTRALIAN RED MEAT

Australian red meat exports to Saudi Arabia and the rest of the Middle East reached 52,700 tons in 2005, a jump of 23 percent over the previous year. Exports primarily consist of sheep meat with demand increasing significantly throughout the region. Australia is a leading producer and exporter of red meat products with annual exports totaling 2,500,000 tons. They include 910,000-ton beef and veal, 141,000-ton lamb and 141,000-ton mutton. Australian processors employ the most advanced international technologies, and stringent hygiene standards and processes to ensure Australian red meat is fresh, safe and healthy for consumers to eat. “On top of this, processors who export to the Middle East also meet strict regulations on Shariah-compliant slaughter procedures set by the GCC. These regulations are supported by Australian government legislation,” said Graham Lyon, Middle East export marketing manager for Fletcher International Exports, which claims to be the largest exporter of sheep meat in Australia. “The Middle East has been the fastest growing region in the world for our trade in the last two years, and represents a vibrant market for Australian exporters in general.” Graham added: “Higher incomes, strong population growth and changes to the retail environment as well as the rising number of expatriates accustomed to red meat are the driving factors for growth in exports to GCC countries.”

MASTERCARD

MasterCard Inc. has announced that its principal operating subsidiary MasterCard International is introducing a new corporate name, MasterCard Worldwide. The company is also unveiling a new corporate signature and adopting a new corporate tagline, ‘The Heart of Commerce,’ to reflect the company’s globally integrated structure and its strategic vision of advancing commerce worldwide. “MasterCard Worldwide is a driving force at the heart of commerce, enabling global transactions and bringing insight into the payments process to make commerce faster, more secure and more valuable to everyone involved,” said MasterCard Chief Marketing Officer Lawrence Flanagan. “The new corporate brand better represents the globally integrated structure and unique insights that MasterCard leverages.”

i2

i2, described as the region’s largest and most diverse mobile phone provider, is expanding rapidly throughout the Kingdom with the opening of a new i2 flagship outlet at the Arcade Center in Riyadh and three new stores in Jeddah. To accommodate the demand for the latest products and services, i2 opened four stores simultaneously to give customers the choice to shop at over 110 locations in the Kingdom alone. The opening of the new outlets coincides with the debut of Nokia’s N72. i2 is the first to launch Nokia’s sleek and stylish addition to its N series in the Kingdom. Present at the opening of the new i2 store were Timo Toikkanen, executive vice president (EVP), Nokia Middle East & Africa, Saud Al Dowaish, CEO, Saudi Telecom Company (STC), and Yasser Zaidan, EVP, i2.

SONY ERICSSON

Sony Ericsson is strengthening its product line-up with the introduction of the J220i, a combination of design quality, ease of use and value, allowing the mobile phone giant to reach out to a broad range of consumers whose basic mobile phone needs are straightforward calling and texting. “We’re continuously expanding the Sony Ericsson offering to incorporate a wider range of consumers and customer needs. This new phone will appeal to consumers looking for handsets that are reliable, affordable and simple to use, yet stylish and manufactured by a trusted brand.” said Husni El-Assi, GM, Sony Ericsson, Middle East & Africa. The J220 is designed to be user friendly.