Ramzi Raad, the founder & CEO of TBWA\RAAD Middle East and a key figure in the Middle East and North African advertising industry, has been honoured the prestigious 2010 Dubai Lynx Advertising Person of the Year Award at the 3rd Dubai International Advertising Festival. Ramzi Raad will be honoured during the Dubai Lynx Awards Ceremony and Dinner to be held on 17 March at The Palladium in Dubai.

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The Holding Group (THG) announced that it has been rebranded as "MENACOM". As part of the rebranding process, the company also unveiled today its new logo and corporate identity, which similarly reflect MENACOM's focus on integrated services, including advertising, public relations, direct marketing, media buying, digital and interactive outreach.

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The Khaleej Times reports that the advertising industry in the the Middle East will see its growth shifting from "the very fast to fast" mode in the coming months as the global financial melt-down starts impacting the regional economies, industry leaders said.

Joseph Ghossoub, President and CEO of The Holding Group (THG) said UAE's advertising spend had grown 25 per cent in the first three quarters to outpace the regional average growth of 19 per cent.

According to statistics from the Pan Arab Research Centre, the UAE's advertising spend surged from $1.077 billion in 2006 to $1.3 billion last year, an increase of more than 26 per cent over the previous year.

In the first half of 2008, the UAE ad spend grew to $929 million while the total GCC spend increased by 23.6 per cent to reach $3.77 billion, compared to $3.05 billion during the same period last year. In 2008, the GCC ad spend is projected by experts to reach $8 billion, compared to $6.5 billion in 2007, an increase of 24 per cent.

"There is an increasing need in this market for specialised and unified sport, entertainment and cause marketing services in media management. MEC Access will work across traditional and non-traditional media and provide our clients extensive expertise across all platforms," said Ghossoub.

"Globally, sponsorships are growing faster than traditional advertising, and this trend is becoming increasingly visible in the region. Brands will increasingly need to create and own properties and platforms to break through the existing clutter, and showcase their products in a unique and innovative environment," said Mohan Nambiar, Managing Director, Mediaedge:ciaMediaedge:cia. "Our aim is to create and develop concepts whereby consumers can actively experience the benefits of a particular product or brand through sponsorships. Our focus is on the consumer's perception of a particular brand, and how they will integrate the product in their lives, to the point that they become brand ambassadors."

Read more at Zawya.com.

The first Dubai Lynx Advertising Person of the Year Award has been awarded to Joseph Ghossoub for his outstanding work in promoting the Middle East’s advertising and media industry globally.

In his role as President and CEO of The Holding Group (THG) and also as outgoing Chairman and World President of the International Advertising Association, Joseph has been one of the sector’s most prominent champions.

He will be honoured at the 2nd Dubai Lynx Awards Dinner & Ceremony to be held on 2 April, the final evening of the 1st Dubai International Advertising Festival.