Saudi Aramco & Dow Chemical to initiate $ 26 bln petrochemical deal

DS100 Ranking: # 1
Company: Saudi Arabian Oil Company
Country: Saudi Arabia
Industry: Oil & Gas – Integrated

Saudi Aramco and Dow chemical Company plan to construct a $26 billion petrochemical complex in Saudi Arabia. This project is being undertaken to counter the massive demand of plastics for consumer products. Royal Bank of Scotland Group and Riyad Bank are their premier financial partners, assisting them in raising 70% of the project's financing.

External Links:
Plaste mart
TMC Net

Savola Group secures BMG Transparency award 2008

DS100 Ranking: # 81
Company: Savola Group
Country: Saudi Arabia
Industry: Food Processing

Savola Group is amongst the 3 companies, who were awarded the BMG transparency accolades for 2008. The three companies, Jarir Marketing, Savola Group and Arab National Bank were amongst 111 contenders and 11 final shortlists that were reviewed and analyzed for this honor. The recipient of this honor had to be an organization which is deemed the most transparent company listed on the Saudi Stock Exchange. Savola Group has been very forthcoming in reference to its website information and its regular newsletters. Its annual report was much appreciated also.

External Links:
MENAfn

Riyad Bank posts a modest Q2 profit number, up 6.8%

DS100 Ranking: # 93
Company: Riyad Bank
Country: Saudi Arabia
Industry: Commercial Banking

Saudi's Riyad Bank reflected a positive second-quarter profit figure by notching up 6.8% based primarily on higher lending. Being the 4th largest lender, it posted a profit figure of 906 million riyals. Net Operating income increased 3%, net lending income upped 23% while net banking service fees itched up by 21%.

External Links:
Arabian Business
Al Watan

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2nd Quarter Profit Numbers go up 8.2% for Al Rajhi Bank

DS100 Ranking: # 75
Company: Al Rajhi Bank
Country: Saudi Arabia
Industry: Commercial Banking

Saudi based Al Rajhi Bank announced its Q2 profit numbers, itching 8.2%, posting a figure of 1.74 billion riyals. On 3 months ending 30th June 2007, the bank posted a net profit of 1.61 billion riyals.

External Links:
Reuters

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Vakif Bank and Turkish State Railway launches RAIL & MILES program

DS100 Ranking: # 49
Company: Vakif Bank
Country: Turkey
Industry: Commercial Banking

The Turkish State Railways and Vakif Bank, in mutual cooperation have launched the Rail & Miles program. Via this program, cardholders can earn 1% of their ticket amount from the railway authority as "VakifPara" and 5% as "Milpara".

On collection of adequate points, free train tickets can be purchased too. On accumulation of 2,500 miles, one-way ticket from Istanbul-Ankara can be redeemed whereas on 5,300 accumulated miles, one-way ticket from Istanbul to Sofia can be redeemed.

External Links:
Todays Zaman

Agility gains 100% stake in Danish CF Geologistics

DS100 Ranking: # 62
Company: Agility
Country: Kuwait
Industry: Trucking

Agility, Kuwait based Freight Company acquired 100% ownership of CF Geologistics, who are forwarding experts based in Copenhagen. Prior to the buy-out, CF has been a partner and agent for Agility since 2004 as Agility held a 29% share in the company.

External Links:
AME Info
TMC NET

Abdul Lateef Jameel Group launches virtual business academy

DS100 Ranking: # 65
Company: Abdul Lateef Jameel Group
Country: Saudi Arabia
Industry: Retail - Automobile

Saudi based Abdul Lateef Jameel Group recently launched a virtual business academy, Bab Rizq Jameel, as an extension to the firm's Community Service Program. This academy is developed to teach the nation's upcoming generation on how to establish small businesses in addition to providing the participants adequate training and guidance. The Bab Rizq Jameel program also provides loan facilities up to 150,000 Saudi riyals to aspiring individuals for entrepreneurial initiatives.

External Links:
MENA FN

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Jumbo Electronics conferred with Service Excellence Scheme award

DS100 Ranking: # 92
Company: Jumbo Electronics
Country: United Arab Emirates
Industry: Appliance & Tools

Dubai based electronics giant Jumbo Electronics was honored with the Dubai Service Excellence Scheme (DSES) award for 2007/2008 to applaud its excellence in customer service and consumer satisfaction. The retail firm has 30 stores spanning the region and 9 service centers in UAE. Jumbo's retail outlet on Abu Dhabi's Hamdan Street was given the best performance outlet under the electronics award category.

External Links:
AME Info
ITP Net

Emaar Properties introduce Passion Plus system

DS100 Ranking: # 59
Company: Emaar Properties
Country: United Arab Emirates
Industry: Construction Services

Emaar Properties recently launched a service measurement system, Passion Plus for its hotels, residences and clubs. This database management system would be used to record, update and track the performance of partners and associates. It has been primarily installed to measure and improve service standards.

External Links:
iStock Analyst
AME Info

Emirates to introduce non-stop flight on Dubai-California route

DS100 Ranking: # 23
Company: The Emirates Group
Country: United Arab Emirates
Industry: Airline

Emirates Airlines, true to its motto, "Fly Emirates, Keep Discovering" is geared up to launch its non-stop premier service from Dubai to California. To promote this flight route, road shoes were held in the US where the company's first Class private suite facility was also marketed. This suite has been customized for 1st class passengers with a full-reclining seat-turned-bed, 23 inch LCD screen and innumerable entertainment channels. Other passenger facilities such as a separate storage unit, closet, writing desk and mini bar are also available.

External Links:
ASAP

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Turkish Airlines signs strategic deal with Garuda Indonesia

DS100 Ranking: # 51
Company: Turkish Airlines
Country: Turkey
Industry: Airlines

Turkish Airlines entered into a strategic agreement with Garuda Indonesia to foster their expansion plans in the Middle East and South East Asia region. As per the agreement terms, the two airline service providers will jointly promote the sector between Turkey and Indonesia, which currently has no direct flights. The deal also mentions that passengers going to Indonesia would fly Turkish airlines and switch to Garuda while their transit in Singapore.

External Links:
Aviation Record

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Malaysian Airlines halts non-profitable flight routes

DS100 Ranking: # 56
Company: Malaysian Airline Systems Bhd
Country: Malaysia
Industry: Airlines

Malaysian Airlines has halted its service on 15 routes, primarily to China and India due to their non-profitability. In addition, it has also made job-cuts and tried to adapt a few cost-effective measures to sustain the soaring fuel prices. The airline upped its fuel charges by 25% – 80% on its major routes last month and according to sources, it would further halt services on various routes between Kuala Lumpur and Manchester, Zurich, Ahmedabad, Kolkata, Cairo and others.

External Links:
Strait Times

Zain secures government approval to raise $ 4.53 billion capital

DS100 Ranking: # 54
Company: Zain
Country: Kuwait
Industry: Telecommunications

Kuwait based telecommunications provider Zain recently secured government approval to raise capital worth $4.53 billion to fund its expansion plans abroad. Earlier, the shareholders of the company approved a 75% capital increase to sell 1.42 billion shares worth $3.23 to raise $4.6 billion.

External Links:
MENA FN

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Turkcell launches Windows Live Messenger for mobile users in Turkey

DS100 Ranking: # 41
Company: Turkcell
Country: Turkey
Industry: Telecommunications

Turkcell recently inked with Neustar to introduce Windows Live Messenger instant messaging service to 35.1 million mobile users in Turkey. This is being done by using Neustar's Mobile messaging gateway (MMG) solution. Via easy login, the mobile users can access all messenger functionalities on their mobile phones.

External Links:
RTT News
Street Insider

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Etisalat & France Telecom sign collaborative agreement

DS100Ranking: # 47
Company: Emirates Telecommunications
Country: United Arab Emirates
Industry: Telecommunications

Etisalat, Dubai based telecommunications provider and France Telecom have recently signed a memorandum of understanding (MOU) to ensure provision/delivery of content to end-users and to collaborate on international networks . Etisalat will utilize France Telecom's home gateway and IPTV technology in addition to both companies liaising on developing new networks in zones where they both operate.

External Links:
ITP
AME Info