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publié le 2 March 2014

Dubai: 4th Annual Investment Meeting (AIM) to highlight role of foreign direct investment in emerging markets

press release

The Annual Investment Meeting (AIM), the region’s leading economic event focusing on foreign direct investment (FDI), organized by the UAE Ministry of Economy, will highlight the role of FDI in the Arab and regional economies with a special focus on emerging markets.

Expected to attract 10,000 investors during the three day-event, AIM will discuss various economic issues related to emerging markets, mainly in the areas of services, transport and infrastructure, among others.

H.E. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy said: “The 4th edition of AIM has succeeded in attracting representatives from 73 countries so far, which proves its position as the leading annual economic event in the region. Many counties from outside the region are also participating which reflects the rising importance of the event on the global front. The Middle East is among the top consuming regions globally, with a high spending power compared to western countries.”

“It is clear that the local economy is witnessing a steady transformation from major dependence on the oil sector to a more diversified economy, which will secure sustainability in the long run. The results are already visible across various sectors, mainly, trade, tourism, entertainment, services, communication plus many other vital sectors. This is part of the UAE government’s vision in facilitating foreign investment by introducing laws and legislations that secure foreign investors rights and provide high ROI, considered among the highest in the world.”

The UAE has seen a series of new laws and legislations before and after the announcement of the successful Expo 2020 bid that covered various sectors, part of which are the licensing and classification of hotel establishments in Dubai and the set of regulations on mortgage lending issued by the Central Bank of UAE.

Mr. Dawood Al Shezawi, CEO, AIM’s Organizing Committee, said: “These regulations have contributed, along with many others, in creating an ideal investment atmosphere that will attract foreign investors. This has also encouraged overseas companies to allocate more investment allocation to the UAE market.”

Al Shezawi added: “AIM will discuss these topics, along with others, through numerous various seminar sessions focused on raising awareness of foreign direct investment and its role in allowing a sustainable economic boom. The next edition of AIM presents a pool of interests for investors and we expect the turnout of visitors to be very high.”

The Annual Investment Meeting 2014 will attract the best international practices across various investment sectors. The event has also attracted strong governmental and private sector participation bringing decision makers and economic players under one roof.

publié le 5 February 2011

GOURMET ABU DHABI 2011 TAKES OFF IN STYLE

[#Gourmet Abu Dhabi – the annual 16 day culinary festival which has put Abu Dhabi on the international gourmet map – took off for its 2011 edition with a gala opening at the Fairmont Bab Al Bahr. HH Sheikh Sultan Bin Tahnoon Al Nahyan, Chairman of Abu Dhabi Tourism Authority (ADTA), which presents the extravaganza, led the symbolic opening flanked by ‘stars’ from the festival’s stellar masterchef cast.
#]

[#A packed ballroom of guests were introduced to some of the ‘stars’ of the show including celebrity chef James Martin who said he was really impressed with the UAE capital and was looking forward to making a pit stop at Ferrari World Abu Dhabi after his one-night-only dinner at the Crowne Plaza Yas Island.

Sheikh Sultan and guests then toured a host of beautifully designed food stalls where the host restaurants laid out samples of their best fare.

This year’s festival , which runs until February 17, features 57 events across 29 restaurants in 14 of the emirate’s leading hotels with a cast of 17 international masterchefs with 22 Michelin stars and three Chef’s Hats between them. Around 8,000 guests are expected to attend.

Gourmet Abu Dhabi bookings can be made by emailing: info@gourmetabudhabi.ae#]

publié le 17 January 2010

Holiday Inn Dubai - Al Barsha Hosts an Exclusive Evening for Corporate Clients

[#Holiday Inn Dubai - Al Barsha hosted a beautiful cocktail party to thank its corporate clients for the support provided to the hotel since its opening.#]

[#Despite the turbulent market conditions the entire hospitality industry faced since mid-2008, the Holiday Inn Dubai Al Barsha property saw a successful year in 2009, with healthy occupancy numbers and a strong current of corporate guests flowing in.

It was these corporate guests which provided strong support for the hotel, and in turn the management of the property decided to thank each of the corporate clients by inviting them to an exclusive cocktail evening held in the elegant Lobby Lounge.

With corporate guest bookings already looking positive for the opening months of 2010 at the hotel, it is a highly important stream of business for Holiday Inn Dubai - Al Barsha.

Long lasting relationships with these clients is something the hotel wishes to secure, to the benefit of both the hotel and the guests.

Mr. Reda Mukhtar, General Manager explained: “Obviously for us it’s great to have satisfied guests coming to do business in our hotel repeatedly.

“But it’s also of great advantage to the companies which choose us, as it enables the hotel to provide more benefits to the clients so they experience even greater levels of service”.

“The stronger the relationship then the better we can get to know the individual requirements of every client, so we can help to provide an even more complete experience,” he added

In addition to 310 modern and superbly appointed rooms and finest amenities, Holiday Inn Dubai - Al Barsha offers first-class facilities for meetings and conferences for business travellers, including seven conference and meeting rooms, all featuring flexible room layouts.

State-of-the-art meetings equipment is provided, with overhead projectors, CD and DVD players and a host of extra equipment available to be hired at additional cost.

Full delegate packages including all day refreshment and food are available at highly competitive rates, and all of the top class restaurants and bars can be used for a different and informal setting for a corporate get-together.#]

For more information please visit:
www.holidayinn.com or www.hialbarshadubai.com

For media contact:
Hina Bakht
Vice President
MPJ (Marketing Pro-Junction)
Mob: +971 50 6975146
h.bakht@mpj-pr.com

publié le 11 May 2008

Morocco: Real-estate fair kicks off in Paris, honors Tangiers, Tetouan

The Fifth edition of the Moroccan real-estate fair (SMAP IMMO) kicked off Friday in the French capital with the aim of meeting the growing demand of Moroccan expatriates, but also of French and European buyers in terms of real estate.

The four-day event, which honors Tangiers and Tetouan, gathers real-estate institutions, operators and banks, and offers a myriad of products ranging from low-cost housing to high standing residences.

Launched in 2004 for Moroccan expatriates, SMAP IMMO attracts today an international clientele encouraged by the quality and the diversity of the real-estate market in Morocco, a welcoming weather, the quality of life and a particularly advantageous tax system that Morocco offers, especially for retirees.

The 2007 edition witnessed a record turnout of 41,000 visitors.
Source: MAP

publié le 10 September 2013

al khaliji appoints Qataris in leadership roles

Al Khalij Commercial Bank (al khaliji) Q.S.C. focuses on developing and growing Qatari nationals within the organization and has recently appointed a number of Qataris in senior management positions. This step confirms the Bank’s commitment to Qatar’s National Vision 2030 and to increasing the reliance on talented Qataris to take on leadership roles in the Banking Sector.

Commenting on these executive appointments, al khaliji’s Group Chief Executive Officer Robin McCall said, “al khaliji’s growth relies on the extent of our commitment to being the employer of choice, especially for Qataris. We are pleased to see a healthy balance between our external recruitment strategy which brings fresh experience and internal human capital development strategy, both of which will contribute to the Bank’s overall growth.”
Rana Al Asaad, Head of Premium Banking and Branches, possess 16 years of banking experience. Rana progressed in her past roles from a branch manager to head of Branches for Consumer and Corporate Banking customers, and reached Senior Vice President Position in her past role. In al khaliji, Rana will participate in developing al khaliji’s Personal Banking strategy through a focused Premium and Private banking approach. Rana is talented in providing customized financial solutions to high net worth clients, their families and businesses. She has expertise in branch management and displays deep knowledge of the industry.
Najla Moosa has joined al khaliji as Head of Premium Partnerships and Mortgages. In her 15 years of banking experience, she worked in a number of positions and has built a strong background and deep understanding of Premium customer relationships. Najla will be managing and developing key areas of the bank’s growth strategy for Premium Banking.
Hamad Al Kubaisi, Group Head of Human Resources said, “We are committed to recruiting, developing and retaining Qatari nationals. The new appointments are a reflection of our commitment to Qatarization and to the value we place on hiring home growth local talent.” He further added, “We aim to contribute towards the creation of an innovative Qatari workforce, as part of our commitment to meet the human development pillar of the Qatar Vision 2030. I am convinced that these talents will become Qatar’s future banking generations.”
al khaliji is committed to strengthening its Qatarization program and reach out to qualified nationals and highlight to them the excellent career opportunities available in the Bank.

For more information about al khaliji careers please visit www.alkhaliji.com

al khaliji is Qatar’s pioneer “next generation bank”, offering a full range of conventional banking products and services to premium, business, corporate and international customers in Qatar, UAE and France.

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange since 2007, with QR 32.6 billion in total assets and QR 18.6 billion in customer deposits as of June 30, 2013.

Al Khaliji France is al khaliji’s subsidiary in Paris, France, with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services.

al khaliji products and level of service reflect the Bank’s belief that to be a successful financial institution, the Bank must meet the needs of both this generation and future generations of employees, customers, investors and business partners.

al khaliji was awarded with a positive Fitch Rating. With a Long Term Issuer Default Rating of ‘A-’ and a Short Term Issuer Default Rating of ‘F2’, this facilitates streamlined access to resources all over the globe.

Achieving financial objectives is critical to sustaining prosperity in any market, at al khaliji long-term sustainability is maintained by balancing the commitment to achieving results with the commitment towards the development of people and the community.

Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.

publié le 9 July 2010

Bahrain Reports Real GDP Growth of 70% in Last Decade

Press release

[# Bahrain enjoyed real GDP growth of 70 percent over the past decade according to a report out this week from the Kingdom’s Economic Development Board (EDB). This represents a sustainable growth rate in real GDP of more than six percent year-on-year.#]

[#The EDB’s first Annual Economic Review details Bahrain’s economic performance over the past decade and forecasts continued, sustainable growth over the coming ten years. In addition to the 70 percent GDP growth, exports increased 116 percent, Bahraini employment rose by 39 percent and Bahraini wages increased 54 percent. From 2005 to 2008, Bahrain also achieved the highest amount of foreign economic investment as a proportion of nominal GDP among the six nations of the Gulf Cooperation Council (GCC) at around 35 percent. Real GDP is forecast to continue to grow sustainably with a four percent expansion in 2010, rising to 7.2 percent in 2015.

Whilst Bahrain’s economic expansion was against the backdrop of global economic growth, Shaikh Mohammed bin Essa Al Khalifa, Chief Executive of the EDB, believes the figures reflect the success of economic reforms. The measures – implemented under the guidance of His Royal Highness Prince Salman Bin Hamad Al Khalifa, the Crown Prince of Bahrain and Chairman of the EDB – have helped to build an open economy based on ethical values, he said.

“In Bahrain, our economic growth has been consistently strong, with a real average growth rate of over six percent during the last decade. Prudent economic reform has played a key role in strengthening the long term prosperity of the Kingdom. Our plan has always been about building sustainable growth through a sound and flexible economic and fiscal policy and diversified economy, with an emphasis on transparent, sound regulation.

“In today’s world, our ongoing reform programme – driven by Vision 2030 – is helping us to deliver sustainable prosperity by making the private sector the engine of growth and creating the optimum business environment for international companies looking to access the trillion dollar market of the Gulf.”

The five years to the end of 2008 were of particularly strong growth for Bahrain. Output in the finance sector nearly doubled and at the end of the period accounted for over one quarter of output, compared to less than a fifth five years previously. Manufacturing output improved 80 percent, while the education services, tourism and logistics sectors also grew. Today, the Kingdom is recognised as the most diversified economy in the Gulf and is ranked in the top 20 globally in the World Bank’s Doing Business Report.

Although Bahrain’s growth slowed during 2008 and 2009 as a result of the global economic downturn, the Kingdom avoided the worst of the recession apparent in Europe and North America. Bahrain’s success in continuing to expand during the sharpest global downturn in well over half a century is further testament to the strength of the economy and the value of the extensive reforms undertaken in the preceding decade, Shaikh Mohammed added.

“We have completed a successful ten years and a challenging new decade has begun. But in Bahrain we are well placed to return to increased rates of sustainable growth, with Vision 2030 the blueprint for the development of our country’s economy, government and wider society over the coming decades.”

The EDB, which has the responsibility for creating the right climate to attract foreign investment, is leading the process of Bahrain’s Vision 2030 under the guidance of HRH the Crown Prince. Vision 2030’s ultimate aim is to raise national living standards by creating greater opportunities for Bahrainis.

About The Bahrain Economic Development Board (EDB)

The Bahrain Economic Development Board (EDB) is a dynamic public agency with an overall responsibility for formulating and overseeing the economic development strategy of Bahrain, and for creating the right climate to attract direct investment into the Kingdom.

The role of the Bahrain EDB is to provide leadership by uniting all of the Kingdom’s shareholders through a unified vision, and to develop key strategies for growth. The Bahrain EDB also acts as a facilitator, helping all of Bahrain’s stakeholders to understand and adopt the changes necessary for progress. In addition, the Bahrain EDB provides sound project management to ensure that all agreed reform initiatives are implemented in an effective and timely manner.

The Bahrain EDB is also responsible for attracting inward investment into Bahrain, and is focusing on six target economic sectors in which the Kingdom offers significant strengths. These are financial services, downstream industries, tourism, business services, logistics, and education and training.
#]

publié le 6 June 2010

Deutsche Bank and Saudi investors establish Shariah compliant home financing company

[# Deutsche Gulf Finance (DGF), a home finance company with its head office in Riyadh, Saudi Arabia, aspires to be a leading provider of home finance in the Arabian Gulf.#]

[#

    • DGF is focused on providing Shari’a compliant residential home financing.
    • Deutsche Bank has made a significant investment into the Company together with a group of prominent Saudi investors.

The leading global investment bank Deutsche Bank AG announced last month the formation of Deutsche Gulf Finance (DGF), a joint venture Shariah-compliant home financing company owned 40% by the Bank’s Riyadh Branch and 60% by a group of prominent Saudi-based investors, led by Fahad Abdullah Abdulaziz Al Rajhi.

Fahad Abdullah Al Rajhi said: “ "We are excited to partner with Deutsche Bank and benefit from its global experience in housing finance. Deutsche Gulf Finance will benchmark itself against international best practices and looks forward to contributing to the growth of home ownership in Saudi Arabia.” "

The Company has an initial capitalization of approximately USD110 million, and at first will provide Shariah-compliant home financing for properties located in Saudi Arabia, with plans to expand its operations into Bahrain, Qatar and Kuwait over time. Deutsche Gulf Finance has commenced financing completed units as well as those under construction on individual lots or at real estate developments.

Doug Naidus, Managing Director and Global Head of Residential Mortgage Backed Securities Lending and Trading at Deutsche Bank, said: “ "We are very pleased to announce the formation of Deutsche Gulf Finance, as Saudi Arabia is a key country in our emerging markets strategy. Islamic home finance continues to be an important part of Deutsche Bank’s global mortgage platform. Deutsche Bank’s global expertise coupled with the Al Rajhi family’s local prominence and experience make this an ideal and complementary business relationship.” "

Deutsche Gulf Finance maintains comprehensive and customized policies and procedures covering all major aspects of housing finance operations and incorporating global inputs from Deutsche Bank, applicable Saudi law and regulations, and the highest Shariah standards. Special attention has been paid to ensure proper risk controls and oversight levels are maintained.

Jamal Al-Kishi, Deutsche Bank’s Chief Country Officer in the Kingdom, added, “ "The establishment of Deutsche Gulf Finance is an important milestone for Deutsche Bank’s presence in the Kingdom and signifies our commitment to broaden and deepen our presence in Saudi Arabia as well as our confidence that the Saudi home finance market will witness robust growth.” "

The launch of Deutsche Gulf Finance comes at a pivotal time for consumer finance in Saudi Arabia. According to Deutsche Bank Research, the total outstanding home finance provided by the private sector in Saudi Arabia aggregates to less than 1% of GDP compared with well over 50% in most developed countries, and approximately 6% in Kuwait and 7% in the UAE.

Deutsche Bank Research projects Saudi Arabia will need 1.2 million additional housing units by 2015. In addition, based on market assumptions, it estimates that when the new Saudi mortgage law is enacted it will contribute to incremental demand of approximately 55,000 additional units per year.#]

ribhfr.wordpress.com

publié le 14 June 2010

DSS attractions unveiled highlighting Dubai as summer destination of surprises

AED 60 million budget for region’s most awaited summer event.

[#The Dubai Events and Promotions Establishment (DEPE) has unveiled the main highlights of the 13th edition of Dubai Summer Surprises that begins on June 17th and runs for 52 days till August 7th. With a budget of AED 60 million, this year’s DSS includes international shows, musicals, events, shopping promotions across Dubai, and prizes to be won throughout malls. Modhesh World, the region’s biggest indoor edutainment venue, is also a major attraction of DSS.#]


[#Laila Suhail, Chief Executive Officer of DEPE said, “We have endeavoured to present a spectacular combination of attractions that create a comprehensive holiday package for all visitors and residents in Dubai during DSS. These efforts are in line with our marketing slogan for this year, ‘Dubai, your summer destination of surprises.’”

Suhail also said that the AED-60-million-budget has not only ensured the quality of events but has also supported DEPE in reaching out to audiences through diverse marketing campaigns. “As the leading and the longest summer event in the region, it is imperative that we elevate our efforts in order to maintain our leading position. Catering to multi-national audiences is always challenging but we have succeeded in the previous years and we look forward to continuing our successful streak,” she added.

DSS 2010 Opening Ceremony

Following the massive success of last year’s opening, the DSS 2010 opening will focus on retail promotions across 25 select shopping malls where a purchase of AED 500 entitles shoppers to win vouchers from some of the best entertainment destinations in Dubai.

Shopping and raffles


Summer shopping can’t be as exciting and rewarding than in Dubai and during DSS. With more than 6000 retail outlets participating and discounts of up to 70%, shoppers can rest assured that brands of their choice can be bought at throwaway prices.

Every shopper is also rewarded for a purchase and individual malls are giving away cars, cash, and shopping vouchers.

Dubai Shopping Malls Group, a key sponsor of DSS 2010, is also organizing a purchase-based raffle where shoppers can expect to win spectacular weekly prizes.#]

For more informations :www.mydsf.ae

publié le 6 February 2009

DUBAI BAGS TOURISM AWARDS IN THE UK

[#Dubai, a hugely-popular destination for leisure and business tourists from across the world, has bagged two influential awards in the UK, which remained the leading source market for its widely-expanding tourism industry.

Dubai has been voted "best destination for Middle East and Africa" at the Irish Travel Trade News Awards, while the second award from the Travel Weekly recognized the travel trade training programme conducted by the Dubai Department of Tourism and Commerce Marketing (DTCM).

Dubai plays host to approximately 700,000 tourists annually from the UK and Ireland, its top market in the Europe.

Fayha Sultan, Marketing Manager-Commerce at the DTCM’s representative office for the UK and Ireland, received the Irish Travel Trade News Award recently at a ceremony attended by over 600 leading industry professionals. The other nominees in this category included Egypt and South Africa. The Irish Travel Trade News is the only dedicated travel trade magazine in Ireland and has been operating since 1964.

Based on the results of the fourth Conference & Incentive Travel’s (C&IT) Readers Poll 2008, Dubai was voted the top incentive destination by readers of the UK magazine, moving up from second place last year. Dubai beat off stiff competition from London, South Africa, Barcelona, and New York/Las Vegas, taking the second, third, fourth and joint fifth place, respectively.

Dubai also won the ’Best Travel Weekly Academy Training Programme’ award at the Travel Weekly Globe Awards, are one of the most respected awards events in the UK travel industry, attended by over 1,600 leading industry professionals. This is the first Travel Weekly Globe Award that Dubai has won.

DTCM’s Representative Office for the UK and Ireland created a page on the travelweekly.co.uk website in an area called TW Academy, which offers training to travel agents. On that page we provided agents an opportunity to complete a sample module of Dubai Expert programme, and link through to the full course.

Ian Scott, Director of DTCM’s UK & Ireland representative office, commented: "Dubai’s incentive offering is going from strength to strength thanks to the diversity of its activities and accommodation offerings. The future is looking equally exciting with an impressive line-up of new and upcoming developments".#]

NOTE TO EDITORS:

DTCM is the principal authority for the development of tourism in Dubai, one of the world’s most popular destinations. Established in 1997, it is the sole licensing body for the hotel establishments and tourism-related businesses. Its supervisory role covers heritage sites, cruise terminal and convention bureau. DTCM has 18 overseas offices, including three in China and two in Saudi Arabia.
www.dubaitourism.ae

<http://www.dubaitourism.ae/>


Mohamed Abdul Mannan
Department of Tourism
and Commerce Marketing
Tel. + 971 4 223 00 00 Fax: +971 4 223 00 22
P. O. Box 594, Dubai, U.A.E.
Website: www.dubaitourism.ae

publié le 9 March 2009

DUBAI HOTELS REVENUES TOUCH AED15 BILLION MARK IN 2008

Dubai has successfully retained its strong position as a business and leisure tourism hub with its impressive portfolio of hotels posting all-time high record revenues of AED15.25 billion and a double-digit increase in rooms inventory in 2008, one of the most economically-challenging times for the global tourism industry.

Mr. Khalid A bin Sulayem, Director General of Dubai Department of Tourism and Commerce Marketing (DTCM), said: "The results are highly encouraging and reflects the vibrancy and dynamism of the emirate’s expanding tourism industry. The performance reflects the efforts and ability of Dubai in confidently navigating through one of the most-difficult journeys that the global tourism industry is faced with."

"There are strong signs of growth for the tourism industry. Dubai has invested heavily in the tourism sector and is probably better placed to remain sound during a challenging time and, with its great product offering, may emerge faster than other regions when the global economy improves," he said.

Dubai hotel establishments played a host to 6,996,449 guests in 2008, up from 6,951,798 visitors in the previous year. In 2004, Dubai hotels received 5.4 million guests followed by 6.16 million in 2005. The slight increase in guest numbers enabled Dubai hotels and hotel apartment posting AED15.25 billion in revenues, an impressive increase of 15 per cent over the previous year. In the year 2007, the revenues were to the tune of AED13.26 billion on the back of a 22.4 per cent growth.

The Dubai Hotel and Hotel Apartment Performance Summary 2008 revealed 15.9 per cent increase in the number of hotel rooms and hotel apartments, which stood at 49,598. In 2007, the number of hotel rooms and hotel apartments were 42,807 after a 4.8 per cent growth over the previous year.

The government of Dubai is continuing its steps to manage this key economic domain in times of economic slowdown worldwide. The tourism and hotel sectors directly contribute 19 per cent to Dubai’s GDP, while their indirect contribution to GDP stands at 32 per cent in 2008.

The initiatives launched by the DTCM have helped boost hotel occupancies since the start of 2009. For instance, the last week of February, the average occupancy of five-star beach hotels was 95 per cent with the average room rate for the five-star hotel being AED1239.

The year 2008 witnessed the network of overseas representative offices operated by DTCM growing to 18 with the opening of three offices in China, with the broader aim of tapping the strong tourism growth potential in the world’s most populous country.

The DTCM has taken up a number of initiatives to boost hotel occupancies and promote the destination in established and emerging source markets across the world. The department conducted promotional campaigns with visitors getting up to 40 per cent discount in hotel room rates among other benefits.

A three-month familiarization programme targeting 2000 tour operators, MICE agents and Media representatives had been launched by DTCM in cooperation with Emirates Airlines and other key players of Dubai’s tourism industry to provide them a hands-on experience of Dubai and its vibrant tourism and business landscape.

He said the excellent cooperation between the public and private sectors was a way forward to tourism industry growth in this volatile economic climate and Dubai remains an excellent inspirational role model for many destinations.

"We see the year 2009 to be more challenging in consolidating the growth. As Dubai increases its offering of world-class hospitality, the emirate is the preferred holiday destination for tourists from around the world. Dubai’s tourism product offering is going from strength to strength thanks to the diversity of its activities and accommodation offerings. The future is looking equally exciting and we are confident about gaining even more solid ground on the world tourism map."

NOTE TO EDITORS:

DTCM is the principal authority for the development of tourism in Dubai, one of the world’s most popular destinations. Established in 1997, it is the sole licensing body for the hotel establishments and tourism-related businesses. Its supervisory role covers heritage sites, cruise terminal and convention bureau. DTCM has 18 overseas offices, including three in China and two in Saudi Arabia.
www.dubaitourism.ae

<http://www.dubaitourism.ae/>

#]


Mohamed Abdul Mannan
Department of Tourism
and Commerce Marketing
Tel. + 971 4 223 00 00 Fax: +971 4 223 00 22
P. O. Box 594, Dubai, U.A.E.
Website: www.dubaitourism.ae

publié le 6 February 2009

DUBAI MOUNTS PROMOTION IN SPAIN

[#The Dubai Department of Tourism of Commerce Marketing (DTCM) is steaming ahead with its energetic marketing drive in Europe, the emirate’s traditionally strong source market for years, and mounted a successful promotion in the promising Spanish market through FITUR-2009, the Spanish International Travel and Tourism Fair, held in Madrid.

Measuring 119 square metres, the Dubai Stand had 12 co participants. The 29th edition of the leading travel show, held at Feria de Madrid from January 28 to February 1, attracted 13,520 exhibitors from 170 countries and regions. Last year’s edition attracted more than 255,000 visitors.

Mr. Abdullah bin Suwaidan, DTCM Deputy Director of Overseas Promotions, said: "Participation in this major tourism fair was very fruitful since Spain is a key market for us with great growth potential. This was our 16th year participation in FITUR and that speak volumes about the importance we attached to this market."

There was more than 32 per cent increase in the number of Spaniards visiting Dubai during January to September last year compared with the same period in 2007.

He presented a Dubai souvenir to His Highness Prince Felipe of Borbon who inaugurated the fair. The DTCM’s co-participants at FITUR-2009 were Arabian Link Tours, Reem Tours and Travels, Lama Desert Tourism and Cargo, Alpha Tours, Travco Travel, Desert Adventures Tourism, Yasi Tours, Emirates Hotels and Resorts, Arabian Adventures, Kempinski Hotel Mall of the Emirates, Al Tayer Travel Agency and Emirates Airlines.#]

NOTE TO EDITORS:

DTCM is the principal authority for the development of tourism in Dubai, one of the world’s most popular destinations. Established in 1997, it is the sole licensing body for the hotel establishments and tourism-related businesses. Its supervisory role covers heritage sites, cruise terminal and convention bureau. DTCM has 18 overseas offices, including three in China and two in Saudi Arabia.
www.dubaitourism.ae

<http://www.dubaitourism.ae/>


Mohamed Abdul Mannan
Department of Tourism
and Commerce Marketing
Tel. + 971 4 223 00 00 Fax: +971 4 223 00 22
P. O. Box 594, Dubai, U.A.E.
Website: www.dubaitourism.ae

publié le 12 July 2013

Dubai Multi Commodities Centre’s continuous growth sets the stage for major expansion

Press release

The Dubai Multi Commodities Centre Authority (‘DMCC’), the Government Authority dedicated to establishing Dubai as the global gateway for commodity trade, today announced that it registered 1,270 new member companies in the first 6 months of 2013. A record-breaking 260 companies joined DMCC’s Free Zone in April alone, bringing the total number of companies operating at DMCC to over 6,890, a 30% increase compared to the same period in 2012.

DMCC’s Free Zone, the fastest growing and soon to be the largest in the UAE, is firmly set to meet its commitment made in early 2011 to be home to over 7,200 companies by the end of 2013.

In just 11 years, DMCC’s members and thriving trading community has contributed between US$ 9-12 billion towards Dubai’s GDP and continues to demonstrate its strength with major organisations joining the Free Zone in H1 2013 such as General Mills, United Arab Bank, Medcare Hospital and the Moscow University for Industry and Finance, Landmark International Hotels and Noor Islamic Bank.

This continued growth, the increased demand for commercial space combined with DMCC’s significant GDP contribution, are some of many reasons why its Executive Chairman, Ahmed Bin Sulayem, recently announced that DMCC is to build the world’s tallest commercial tower as part of its expansion plans of a 107,000 square metre business park. Currently in concept design phase, the DMCC business park and world’s tallest commercial tower will offer premium commercial and retail space for lease and sale, to accommodate demand from large corporations and multi-nationals.

Commenting at a media briefing hosted at Almas Tower (DMCC’s headquarter and the Middle East’s tallest commercial tower) this morning, Ahmed Bin Sulayem, Executive Chairman, DMCC, said:

“The first 6 months of 2013 further demonstrate DMCC’s strength and commitment to establishing Dubai as the global hub for commodities trade and enterprise. With an average of 200 new companies joining DMCC every single month, 95% of which are new to Dubai, DMCC will be largest Free Zone in the UAE before the year end.

Our new expansion plans, including the DMCC business park and the world’s tallest commercial tower, are the next natural steps to ensure we continue to welcome companies to the free zone as demand grows – particularly from large regional corporations and multi-nationals – as we remain focussed on making a material contribution to Dubai’s economy.”

Commodities Update

Commodity trading in Dubai has continued to cement the Emirate’s position as the global trading hub. In the first half of the year, trade volumes of rough diamonds increased by 10% to 66 million carats, and the value increased by 5% to US$ 6.2 billion compared to the same period last year. A total of 32.4 million carats were imported in the first half of the year at a value of US$ 2.5 billion, a 9% and 7% increase over the same period in 2012. In addition, total exports in carats grew by 12% to 34 million carats and by 3% to US$ 3.7 billion, compared to the same period in 2012.

In March 2013, DMCC and the Dubai Diamond Exchange (‘DDE’) hosted the inaugural Dubai Diamond Conference, themed ‘Dubai – The New Silk Route’, attended by over 500 guests representing key industry participants from diamond centres and diamond producers around the world including Africa, Antwerp, London, New York and India. During the event, Ahmed Bin Sulayem challenged longstanding traditions by declaring Peter Meeus, Chairman of the Board of Directors of the DDE, as the first nominee for President of the World Diamond Council (‘WDC’) from a non-Western member country.

The value of gold passing through Dubai in 2012 increased to US$ 70 billion from US$ 56 billion in 2011, making it the global bullion hub with over 25% of the world’s physical gold passing through the Emirate.

DMCC have been at the forefront of issuing and implementing guidelines in conjunction with the OECD and other international bodies to promote responsible supply chain management for gold and other precious metals. Initiatives have included a 5-step DMCC Practical Guidance, the development of a Review protocol as well as the appointment of a panel of international auditors to review compliance.

DMCC’s Dubai Tea Trading Centre (‘DTTC’) provided warehouse facilities for of 5.76 million kg of tea during the first half of 2013 – an increase of 80% over H1 2012. As a result of DTTC’s efforts, the UAE is now the largest re-exporter of tea in the world, with a 60% market share.

In the first six months of 2013, DMCC continued to support a broad spectrum of commodity industries through major local and international events, sponsorships, partnerships and speaking opportunities such as hosting the second Dubai Precious Metals conference in April; opening the 3rd Annual Middle East Islamic Finance and Investment Conference in April; opening the inaugural Pepper Conclave Conference in June; acting as headline sponsor for the 2013 CICILS conference in Singapore; hosting the annual DMCC London Dinner with several UK parliamentarians; sponsoring sessions at the British IOD (Institute of Directors); speaking at The Assocham 6th International India Gold Summit in New Dehli and establishing the Dubai Food Trade Group. The Dubai Diamond Exchange (‘DDE’) hosted a record 10 diamond auctions to date, featuring rough diamonds from West Africa, Tanzania, Congo, Zimbabwe and Russia.The Dubai Pearl Exchange (‘DPE’) partnered with RAK pearls to host the first commercial tender of UAE pearls, and hosted private pearl exhibitions with Paspaley and Atlas South Sea Pearls.

The Dubai Gold and Commodity Exchange (‘DGCX’) continued to see exponential growth with H1 2013 volumes of 7.7 million contracts, an increase of 101% over the previous year and an underlying value of US$ 269 billion. Average daily volume (ADV) in the first half of the year stood at 61,731 contracts, a 107% increase year-on-year. The exchange was also named ‘Best Global Commodities Exchange’ in 2013 by the Global Banking & Finance Review in June 2013.

Earlier this year DMCC Tradeflow, the online exchange for physical commodities in the UAE, enhanced its offering by launching Commodity Murabaha. Continuing its efforts to support Islamic finance in the commodities space, DMCC Tradeflow, completed its inaugural Commodity Murabaha transaction in April between Noor Islamic Bank and Commercial Bank of Dubai using assets from Ducab and ENOC. DMCC Tradeflow is committed to supporting the vision of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai to create Dubai as the world’s capital for Islamic economy.
Free Zone Infrastructure Update

DMCC continues to expand its mixed-use Free Zone and freehold community. The RTA recently confirmed that it has completed 75% of the final phase of the JLT road network and announced conclusion of the remaining works by the end of the year.

With 65 mixed-use commercial and residential towers and over 200 retail outlets in operation, there are currently over 65,000 people working and living within Jumeirah Lakes Towers. The transformation of one of its lakes into a 55,000 square metre community park is also due to be completed by the end of this year.

publié le 11 November 2010

Dubai: Christmas magic on offer at Corp Executive Hotel Apartments

[#The festive season comes packaged with style at Corp Executive Hotel Apartments where an executive chef will supervise the culinary treatsTaking the strain out of Christmas, management at the Corp Executive Hotel Apartments – Al Barsha – Dubai has put together a special package, complete with accommodation, meals and a few surprises thrown in.#]

[#A two-day stay from Christmas Eve on December 24 through to Boxing Day is priced at just AED 1200 per person and includes a host of treats from cakes on arrival through to a four-course Christmas Eve dinner at Mood restaurant, traditional Christmas lunch, full English breakfast on each morning and a Christmas fruit cake to take away.

According to general manager Aamir Pervez, the whole team at Corp Executive Hotel Apartments is working to ensure every guest will feel at home, in a celebratory mood and full of the joy of Christmas: “As well as sumptuous festive fare created by our executive chef, Nicholas Tordeurs, we will be rolling out a series of treats such as Christmas stockings filled with small gifts and hot chocolate and marshmallows on Christmas morning.”

For those who just want a break away from home with all the luxuries of an apartment stay and breakfast only, there is a special AED450 rate for a one-bedroom apartment, and AED650 for a two-bedroom.

The 140-unit Corp Executive Hotel Apartments – Al Barsha is conveniently located next to the Mall of the Emirates and within easy reach of Downtown Dubai, the beach and golf courses.

Facilities include spacious accommodation, free parking, access to a pool, gym and aerobics suite, a la carte dining at Mood restaurant as well as all-day snacks and drinks at the Caffeine lobby lounge and poolside snacks at the Snug plus room service.#]

publié le 9 September 2010

easyHotel Jebel Ali Welcomes Its First Guests

[#easyHotel Jebel Ali, the super budget brand hotel chain’s first venture outside Europe, on Monday (September 6) welcomed its first guests, many of them taking advantage of the offer of attractive budget price of AED 99 per night for a double-room.
#]

[#easyHotel Jebel Ali is part of the super budget hotel brand founded and owned by serial entrepreneur Sir Stelios Haji-Ioannou. The hotel’s brand new six-story building, with its trademark orange trimmings, has 216 air-conditioned bedrooms, each equipped with basic amenities like en-suite bathroom, wireless Internet access and a work desk space for the busy traveller.

easyHotel Jebel Ali, operated by Istithmar Budget Hotels, an Istithmar World company, is Dubai’s first 1-star hotel that offers a clean room equipped with basic amenities and the first budget hotel with a Gold LEED (Leadership in Energy & Environmental Design) certification, a widely accepted benchmark for high-performance green buildings.

easyHotel Jebel Ali remains true to the brand’s great value ‘no frills’ approach and is completely transparent on its services and pricing structure. Services such as housekeeping, luggage storage, early check in, late check out, vended snacks and drinks and wi-fi Internet access are available for a small additional charge to those guests who require them.

Announcing the opening of the easyHotel Dubai, Jebel Ali, Andy Watson, Acting Chief Executive Officer, Istithmar World, said:
“Istithmar World is pleased to introduce to the regional market the concept of remarkable value for money through the easyHotel brand. We believe there is a real gap in the hotel sector here for quality accommodation at affordable prices and easyHotel Jebel Ali fills that void beautifully. We are confident that our offer of purpose-built hotel rooms at highly attractive rates and our policy of leaving upgrade decisions solely in the hands of our guests will find resonance in an increasingly cost-conscious market.”

easyHotel Jebel Ali is conveniently located inside the Jebel Ali Free Zone Authority (Jafza) with easy access from Sheikh Zayed Road and has parking for up to 50 cars. Guests arriving at Dubai International Airport can take a Metro Train to Ibn Batuta Mall Station or a quick taxi ride to reach easyHotel Jebel Ali.

easyHotel Jebel Ali is the first hotel to be established in Jafza, Dubai’s premier free zone, which is home to more than 6,500 companies and is adjacent to Jebel Ali Port, one of the largest container terminals in the world.#]

For more details about easyHotel, please visit: http://www.easyhotel.com

publié le 20 November 2011

Exceptional attendance at al khaliji hosted anti-money laundering regulations and compliance workshop

[#Under the patronage of the National Anti-Money Laundering and Terrorism Financing Committee, Al Khalij Commercial Bank (al khaliji) QSC held the “Anti-Money Laundering and Compliance Management Implementation in the Qatari Financial Industry’ workshop at the Diplomatic Club on November 17th. At the beginning of the event and in his welcoming address, Sheikh Hamad Bin Faisal Bin Thani Al Thani, al khaliji Chairman, said,

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Sheikh Hamad Bin Faisal address

“This workshop, organized with the Qatar’s National Anti-Money Laundering and Terrorism Financing Committee, not only shows our commitment to implementing the committee’s rules and regulations, but also emphasizes the importance local financial institutions can play in supporting Qatar’s 2030 Vision in developing a modern and competitive economy. By complying with both local and international regulations, financial institutions, along with support from the State of Qatar, can create an environment where business can thrive. To fulfill the vision, therefore, it is more than a commitment – it is an obligation.”

In introducing the speakers, Ms. Abeer Al Kalla, Head of Public Relations and Communications, highlighted the importance of discussing the issue of anti-money laundering (AML) regulations, and complying with their requirements. She further added,

“al khaliji’s hosting of the workshop falls under the bank’s corporate responsibility strategy which aims to further education, enhance business knowledge, and build awareness amongst Qatari’s local business community.”

The event included presentations from a plethora of local and regional experts in the field, who shared their expertise and experiences with attending participants.

Three speakers took the podium to deliver key opening notes. Mr. Steve Reece, al khaliji’s Chief Risk Officer who spoke of the challenges facing the Qatari financial sector. In addition, he touched upon the bank’s own successes when it came to anti-money laundering regulation compliance.

“We regard our approach to anti-money laundering compliance as a success story,” explained Mr. Reece. “By getting every division of the bank involved, we have invoked the culture of compliance at al khaliji. This, in itself, has formed the backbone of our compliance programs. Moreover, our approach works aligned across all jurisdictions we operate in– in Qatar, in France, and in the UAE.”

Mr. Reece’s address was followed by a opening speech from H.E. Sheikh Ahmed Bin Eid Al Thani, Head of Qatar Financial Information Unit (Member of the National AML & TF Committee), and a speech by Mr. Adel Al Qulish, Executive Secretary of the Middle East and North Africa Financial Action Task Force (MENA-FATF)

Mr. Osama Zeineh, Group Head of Compliance at al khaliji, kicked off the main presentations with ‘al khaliji’s AML and Compliance Frameworks – a Practical Approach.’

“As al khaliji operates in multiple jurisdictions, we have assessed the regulatory requirements of the different local, regional and international regulatory authorities and incorporated relevant requirements into its practice. As legislation continues to evolve, it was important to proactively keep an eye out for any new regulations or amendments and mitigate any potential risks.” He further added,
“al khaliji Board of Directors provided the support and independence to the compliance officer by reporting directly to the Board Compliance and Risk Committee. Our compliance programs have been defined into key pillars that enabled us to enforce the compliance with AML & CTF rules into all bank areas. These pillars enabled the business units to develop and grow legally and ethically within the Bank as well as earing the trust of our regulators and other key stakeholders.,”.

In addition to Mr. Zeineh, a number of presentations were also delivered, one addressed “AML Regulations and Supervision Approach”, which was presented by Mr. Al Al Sulaiti, Head of the Anti-Money Laundering Unit at the Qatar Central Bank. A question and answer session followed. Ms. Fatma Al Dosari and Mrs. Khawla Mohammed Al Darwish, from the Qatar Financial Information Unit discussed ‘Suspicious Transaction Reporting and Case Studies’.

At the end of the workshop, Dr. Ali Al Amari and Christiaan Shidyaq, from the Qatar Financial Center Regulator Authority delivered a presentation on ‘The Risk-Based Approach’.

While this was the first time al khaliji hosts this conference under the patronage of National Anti Money Laundering and Terrorism Financing Committee, the event was well received and constituted a platform where attendees and representatives from the Qatar Banking and Financial sectors were able to exchange and share knowledge and experience on this specific topic.

To learn more, please visit www.alkhaliji.com.


about us

al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to retail, business, corporate and institutional customers.

Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services. 

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange Index, with QR 23.85 billion in total assets and QR 11.58 billion in customer deposits as of 30 September 2011.
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
While financial objectives are key to sustaining our prosperity in any market, at al khaliji we believe that long-term sustainability is maintained by balancing our commitments to achieving our results, with the commitment towards the development of people and the preservation of natural resources. 
Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.#]

publié le 4 October 2010

Ferrari World Abu Dhabi Announces Opening Plans

Ferrari World Abu Dhabi has revealed its launch plans of the world’s largest indoor theme park with an opening celebration a day earlier than anticipated.

[#Ferrari World Abu Dhabi will open to the public for the first time, starting at seven o’clock in the evening on Wednesday 27th October 2010. Guests will be able to experience a wide variety of rides and attractions and join in the special festivities with shows, dedicated entertainment and free souvenirs.

“We are excited to open our doors to the public earlier than previously anticipated, on Wednesday 27th October 2010 and we look forward to welcoming many guests to mark this historic day,” said Claus Frimand, General Manager, Ferrari World Abu Dhabi. “This will be the beginning of an exciting Inaugural Period, with the start of operations at the world’s first Ferrari theme park.”

“The Inaugural Period will continue throughout November, leading up to a Grand Opening in December with the official launch of Ferrari World Abu Dhabi,” he added.

During Ferrari World Abu Dhabi’s Inaugural Period, families and racing fans will be able to experience the legendary Ferrari passion, history and culture through various rides and attractions, in addition to unique shopping and dining experiences. From the world’s fastest rollercoaster, Formula Rossa; the region’s first dueling roller coaster, Fiorano GT Challenge and the 4-D experience inside Speed of Magic; Ferrari World Abu Dhabi will offer a truly amazing experience for every member of the family.

Ticket prices range from AED 225 for guests above 1.5m, and AED 165 for visitors below 1.5m. Guests can upgrade their experience with a Premium Ticket, which will give them priority on all attractions and access to an exclusive lounge with refreshments, as well as other benefits. Premium Tickets cost AED 375 for guests above 1.5m and AED 270 for visitors below 1.5m. All tickets provide unlimited use of rides and attractions inside Ferrari World Abu Dhabi. The park will be operating on a six-day a week schedule from Tuesday to Sunday, welcoming visitors from 12 noon each day.

"Our operations team of nearly 850 dedicated staff is currently conducting comprehensive ride testing,” added Frimand. “They have all successfully completed extensive training programs on safety procedures and are passionately working round the clock as we count down the days to the Public Opening date.”

“We are on schedule to open the park with a wide selection of rides and attractions. We have managed to turn one of the world’s most exclusive brands into an extraordinary experience which families and fans will come back for time and time again,” concluded Frimand.

Ferrari World Abu Dhabi will feature many Ferrari-inspired rides and attractions that range from speed thrill rides to the world’s most advanced simulators and family-friendly attractions.

- Ends -

About Ferrari World Abu Dhabi:

Ferrari World Abu Dhabi will be the world’s largest indoor and first Ferrari theme park. It will be an intense multi-sensory experience and a must-visit for enthusiasts, fans and families. With more than 20 unique rides, attractions and shows, including the world’s fastest rollercoaster, Ferrari World Abu Dhabi will be a celebration of Ferrari’s past, present and future. Opening to the public on 27 October 2010, Ferrari World Abu Dhabi is set to be one of the signature features of Yas Island, a 2,500 hectare island dedicated to leisure, entertainment and lifestyle.
Ferrari World Abu Dhabi is a world-class development by Aldar Properties PJSC, Abu Dhabi’s leading property development, management and investment company and will be managed by Farah Leisure Parks Management LLC, a joint venture between Aldar Properties PJSC and ProFun Management Group Inc., an international leisure facilities management and operating company.#]

publié le 6 June 2010

Ferrari World Abu Dhabi to Open October 28, 2010

[#Barcelona, May 6, 2010: Ferrari World Abu Dhab, the world’s first Ferrari theme park and largest attraction of its kind, has announced that it will open its doors to the public on October 28, 2010, three weeks ahead of the second Formula 1™ Etihad Airways Abu Dhabi Grand Prix.#]

[#The long anticipated opening date was announced in a ceremony held on 6th May 2010 at the Spanish Grand Prix in Barcelona, attended by representatives from Ferrari, Aldar Properties PJSC and Ferrari World Abu Dhabi.

Ferrari World Abu Dhabi will pay tribute to the passion, excellence, performance, and technical innovation that Ferrari has established over the years and represents today. Its iconic sleek red roof is directly inspired by the classic double curve side profile of the Ferrari GT body, spanning 200,000 m² and carrying the largest Ferrari logo ever created.

In celebration of the opening date announcement, Ferrari World Abu Dhabi unveiled one of its featured attractions. Officially named “Formula Rossa,” this attraction will offer guests a once-in-a-lifetime experience blasting away on the world’s fastest roller coaster reaching speeds of up to 240 km/h.

After the inaugural Formula 1™ Etihad Airways Abu Dhabi Grand Prix held on Yas Island on November 1 2009, the opening of Ferrari World Abu Dhabi signals a milestone in bringing Abu Dhabi global recognition. Ferrari World Abu Dhabi will be a key element in expanding the appeal of Abu Dhabi to travelers, both business and leisure. Ferrari World Abu Dhabi will have over 20 rides and attractions which will bring to life the Ferrari brand in ways which appeal to a diverse international audience. In addition to Formula Rossa, visitors to Ferrari World Abu Dhabi will also enjoy an aerial voyage through Italy following a Ferrari, a G-force experience taking passengers on an adrenaline-pumping ride up over 62 m, through the roof and back down again, and a flume ride journey through the heart of a Ferrari 599 engine.

“We are very pleased to be a part of today’s announcement of the opening date of this unique and exciting attraction alongside our partners at Ferrari. Signature projects like this are another element of our commitment and contribution to Plan Abu Dhabi 2030, by delivering attractions that further enhance the Emirate’s credentials as an inspiring place to live and visit. ” commented Mohammed Al Mubarak, Chief Commercial Officer at Aldar, Abu Dhabi’s leading property development, management and investment company, and Chairman of Farah Leisure Parks Management LLC.

Ferrari World Abu Dhabi is located on Yas Island, a 25 km² entertainment and recreation destination and venue for the first Formula 1™ Etihad Airways Abu Dhabi Grand Prix. Ahead of the inaugural race last November, Aldar delivered the Yas Marina Circuit, 7 brand new hotels, Yas Marina and all the infrastructure and race-related facilities. A number of new entertainment attractions will open to the public in the few coming years, including the first Links golf course in the region opening in late 2010, and a super regional mall in 2012.

Yas Island is one component of the mass infrastructure development outlined in the Abu Dhabi Government’s 2030 Plan to diversify and expand the emirate’s economic base. When completed, Yas Island is set to be a global tourist destination.#]

publié le 15 July 2010

Fidessa Clients Trading on NASDAQ Dubai’s DFM Platform from Go-Live

[#Fidessa group plc (LSE:FDSA), provider of award-winning trading, market data and global connectivity solutions for the buy-side and sell-side, today announced that a number of its clients have deployed the Fidessa sell-side order management system to trade NASDAQ Dubai equities from day one of trading on DFM’s X-Stream trading platform.
#]

[#
Following Dubai Financial Market’s (DFM) acquisition of two thirds of the shares of NASDAQ Dubai from NASDAQ OMX and Borse Dubai, NASDAQ Dubai outsourced trading in its listed equities to DFM’s X-Stream technology platform which went live on July 11. Working closely with the exchanges, Fidessa met challenging timescales to ensure that its trading system was fully compliant, enabling its clients in that region to go live seamlessly on the new infrastructure from day one.

Ian Salmon, Head of Enterprise Business Development at Fidessa, commented: “We have been supporting several NASDAQ Dubai members for a number of years and it is pleasing to have met the aggressive timescales and specific requirements associated with this significant transition so comfortably. Working very closely with NASDAQ Dubai has undoubtedly played a big part here, and the project as a whole is a further sign of Fidessa’s firm commitment to the Middle East region. Our aim is to achieve comprehensive regional coverage, and the successful completion of this work takes us a step closer to realising that.”

Dean Noble, Head of Market Operations at NASDAQ Dubai, added: “DFM and NASDAQ Dubai have both achieved notable success as listing and trading venues, but with different approaches. The outsourcing of NASDAQ Dubai’s trading and other market operations functions to DFM has enabled each to benefit from the other’s strengths. This move will build critical mass for Dubai’s capital markets more quickly, providing a powerful trading hub for the GCC and the wider Middle East region.”

In the last twelve months Fidessa has expanded the range of services it offers across the Middle East. The company announced earlier this week that NCB Capital has selected its sell-side trading platform to support its retail and institutional client operations on the Saudi stock market, as well as its global trading activities. Fidessa has also signed brokers such as EFG Hermes and Mubasher Financial Services to its global connectivity network, one of the largest and most diverse trading communities in the world, linking more than 2,400 buy-side institutions, 530 brokers and 130 markets across Europe, the Middle East, Asia Pacific and the Americas.

Fidessa group serves around 25,000 users across more than 850 clients around the world and its products are used by more than 85 per cent of tier-one financial institutions.

About NASDAQ Dubai

NASDAQ Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, exchange-traded commodities, structured products, Sukuk (Islamic bonds) and conventional bonds.

The majority shareholder of NASDAQ Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of NASDAQ Dubai is the Dubai Financial Services Authority (DFSA). NASDAQ Dubai is located in the Dubai International Financial Centre (DIFC).

www.nasdaqdubai.com

About Fidessa group

Fidessa group is the leading supplier of multi-asset trading, portfolio analysis, decision support, compliance, market data and connectivity solutions for firms involved in trading the world’s financial markets. Fidessa’s products and services are built on the simple vision of making it easier to buy, sell and own financial assets of all types on a global basis.

PEDIGREE

A dynamic, growing company with a proven track record, Fidessa is recognised as the thought leader in the marketplace, with an unrivalled set of products and services which set the benchmark for this industry and, uniquely, serve both the buy-side and sell-side communities globally.

EXPERIENCED

With over 28 years’ experience delivering powerful, resilient, mission-critical systems, Fidessa develops all its products itself from the ground up, investing heavily in their continual evolution. The resulting leading-edge, truly integrated solutions have established Fidessa as the industry’s number one choice, and are used by over 85% of tier-one, global financial institutions.

SCALE

Headquartered in London and with regional operations across Europe, North America, Asia, and the Middle East, Fidessa supports 25,000 users across 850 clients, serving a broad spectrum of customers from major investment banks and asset managers through to specialist niche brokers and hedge funds.

ESTABLISHED

Fidessa group is listed on the London Stock Exchange (symbol FDSA) and is a FTSE 250 company. Fidessa has a turnover of around £240m, has delivered 30% compound growth since its 1997 listing and now employs 1,500 people globally.#]
www.fidessa.com

publié le 30 October 2012

Guests Capture the Beauty of Coral Beach Resort – Sharjah through their Lens

[#Coral Beach Resort – Sharjah announced winners of its hugely popular Photography Contest last week. Over 100 guests took part in the competition that is second year in the running and is open to all staying at the resort. The theme this year was ‘Sun & Fun’ and the photographs had to be taken within the resort’s premises on October 17 and 18. The contestants submitted their entries on October 19th and only one picture per participant was allowed.
#]

[#Jean Pierre Simon, Regional General Manager – Northern Emirates, Coral Hotels & Resorts, said, “The idea is simply to capture the resort’s beauty from a different perspective that varies from one person to another. And the results are absolutely stunning. In fact, the quality of the photos keeps getting better each year.”

The entries show Coral Beach Resort – Sharjah at its most diverse and beautiful, and are on display at the hotel’s lobby. While all contestants were recognized with a special letter from the management, the first prize winner walked away with a digital camera. The second and third spot winners were given family dinner at Casa Samak Restaurant and 60 minute massage at the beach respectively.”

Jean Pierre commented, “We have got some spectacular images of the resort – many look like paintings in a gallery. These striking photographs offer a window into how guests look at the hotel and the life in it. Be it breath-taking shots of the beach, children playing in the garden or enjoying in the pool, or a couple watching the sun go down – all are great.”

The Coral Beach Resort – Sharjah is a picturesque hotel featuring 156 spacious rooms as well as a range of leisure activities for all ages, including two Rimal Club outdoor swimming pools, children’s pool, indoor playroom and complimentary Kid’s Club as well as tennis, badminton and volleyball play areas.

For more information please visit http://coral-beachresortsharjah.com
#]

publié le 17 January 2010

Islamic finance can cash in on demand for infrastructure

[#There is tremendous potential for Shariah-compliant financing of infrastructure projects in the GCC and globally, said a study.
#]

[#Increasing the Shariah-compliant share of such projects would help meet an infrastructure funding demand that ranges from $535 billion (Dh1.93 trillion) over the next decade to as much as $2trn by 2020, said the study.

The Dubai International Financial Centre Authority yesterday released the latest in its series of whitepapers called: "Islamic Financing for Infrastructure Projects".

The whitepaper highlighted that infrastructure projects are ideal for Islamic financing, in part because of Islamic finance’s preference for equity-based and asset-backed projects, as well as because many infrastructure schemes benefit the wider community, which fits well with the moral underpinnings of Islamic finance.

An example is the recently listed $100 million International Finance Corporation Hilal Sukuk on Nasdaq Dubai and the Bahrain Stock Exchange, the proceeds of which will fund infrastructure and health projects in Yemen and Egypt.

Farhan Al Bastaki, Executive Director Islamic Finance at the DIFC Authority, said: "The paper comes at a time when governments are increasingly looking to the market – through public-private partnerships and otherwise – to help fund enormous infrastructure requirements. At the same time, Islamic finance continues to grow at double-digit rates and increasingly entering the mainstream global financial sector as an important asset class."

The potential for Shariah-compliant sources of infrastructure financing also is driven by its low share in overall Islamic financing. Only 22 per cent of the $40bn in Shariah-compatible financing within the GCC has gone into infrastructure projects, while 11 per cent of the $14.9bn in sukuks issued in the GCC during 2008 was used for infrastructure.

The study provides a summary of the various Shariah-compliant financing structures; it examines challenges to increased Islamic financing of infrastructure projects; and it offers possible solutions.

The report also identified a number of hurdles to the increased adoption of Shariah-compliant structures.

These include a lack of regional and global standardisation, and legal regimes that do not directly address Islamic project finance structures, thereby creating uncertainty in the case of default or other contingencies. And the majority of Islamic financing is debt-based and short-term focused, therefore making them inappropriate for long-term infrastructure financing.

International Monetary Fund’s Director for the Middle East and Central Asia, Masood Ahmed, yesterday said global investors’ interest in Islamic bonds will depend on the evolution of the legal framework surrounding the securities.

In 2009, nearly all sukuk issues were made by states and quasi-sovereign entities, and ratings agency Moody’s has said this helped issuance rise 40 per cent during the first 10 months of the year compared with 2008.

"There is a big move going on in the sukuk market towards more highly rated sukuk, and credit risk is becoming more an issue because some of the sukuk that have defaulted were unrated," said Simon Eedle, Managing Director at Global Islamic Banking at Calyon.#]

publié le 7 July 2013

Nakheel expands business portfolio with new Hospitality and Leisure division

Press relaese

Nakheel is expanding its business portfolio with the creation of a new division – Nakheel Hospitality and Leisure – to focus on the company’s growing number of hotels, beach clubs and community recreation centres.

The new division, headed by newly-appointed Managing Director Thorsten Ries, will oversee the development and operations of Nakheel’s hotels and clubs – a key element of the company’s business strategy.

Nakheel is building a 240-room hotel at Dragon Mart, as part of its major expansion of the China-themed mall, a five-star, 40-storey hotel that will form part of the Nakheel Mall and Hotel complex on Palm Jumeirah and an economy hotel at Ibn Battuta Mall. More hotels are in Nakheel’s project pipeline.

The developer also owns and operates a growing number of recreation and leisure clubs, including Jumeirah Islands Club, Jebel Ali Club and the Shoreline Beach Clubs on Palm Jumeirah.

German-born Thorsten comes from an extensive hoteliers’ background and has more 20 years’ experience in the industry. He has worked in Europe, Asia and the Middle East, starting his career with Kempinski before moving to Marriott, Four Seasons and Ritz Carlton, among others.

publié le 31 October 2013

Qatar : PSG & QTA sign a partnership

Qatar : PSG & QTA sign a partnership

Paris Saint-Germain has today formalized a partnership with Qatar Tourism Authority. The agreement between the two sides is close, according to reports, to 250 million Euros per year. It must contribute to the regulation of the PSG annual budget with a view to Financial Fair Play, a new rule imposed by UEFA to limit spending of europeans football clubs.

Qatar now wishes to make discover to the world its roots and its unique cultural heritage. The mission of Qatar Tourism Authority is to develop and promote Qatar and its culture, and to strengthen the positioning of the country as a nice destination. To reach the French and European markets, Paris Saint-Germain quickly emerged as the ideal partner. For QTA, to join one of the best clubs in Europe and indirectly an ideal tourist destination as Paris, represents a tremendous opportunity for QTA to promote Qatar.

PSG CEO Jean-Claude Blanc said :

Our association with QTA allows us to have the means necessary to develop the club in the direction that we envision. The club’s image clearly benefits from it and so do our results. We are able to give our supporters all around the world a high level of performance matching their expectations and our ambitions.

This contract will necessarily benefit to both to PSG and QTA. Rashed Al Qurese, Director of Marketing & Promotions of QTA explains it clearly :

We are delighted to have Paris Saint-Germain as partner of choice with whom we can develop engaging and impactful promotional experiences for international fans and business partners, as well as the residents of Qatar and France. By partnering with Paris Saint-Germain, Qatar also associates itself with Paris, a destination of choice with which we share a sense of prestige, ambition and excellence.

From November onwards, several full size outdoor billboards, located in key spots around Paris, will highlight PSG players in front of iconic Qatar landmarks. QTA and Paris Saint-Germain collaborate in order to develop programs to engage fans and partners alike. This pioneering association will provide a fan experience that is unique, passionate and designed to promote Qatar as a destination.

publié le 13 October 2012

Qatar: The Torch Doha launches exclusive iPad services

press release

[#The Torch Doha Member of Leading Hotels of the World geared for new Technology and introduced the in-Room iPad Solution for the first time in the Middle East.#]

[#All 163 rooms and suites at The Torch are equipped with state-of-the-art iPads which offer guests customized in-room control such as: order from in-room dining, mood & ceiling lights control, curtain operation, room temperature control, access the internet on iPad and TV, listen to music and radio, guest check-in & history clean-up, set pre-arrival requests, DND, MMR & door bell requests, read online newspapers and access their hotel account.
The Torch Doha is the new flagship project situated at the heart of Doha’s Sports City, Aspire Zone. Due to its exclusive concept, guests can now witness the latest technology under one roof. Aside from offering the finest amenities, such as LED TVs, a unique in-room mood light system featuring 12 different colors and 24/7 fresh food-and-beverage options, The Torch aims to bring technology together with dining experience and high-end amenities.
Hotel Manager at The Torch Doha, Mr. Sherif Sabry reveals: “We have re-defined the idea of luxury service in the Middle East hospitality. Introducing the iPad system in all rooms and suites shows that our vision focuses on guest convenience, control and speed of service. Guests can now enjoy a new found autonomy while we streamlined our operation.”

The in Room iPad Solution is custom-built to allow guests to place DND and make-up requests for the room, control the mood light system and the curtains, listen to music, watch TV and access online newspapers and books. The Torch has downloaded a Qibla locator app on all iPads which shows the multi-faceted functionality of the bi-lingual system (features Arabic and English).

The Torch is one of the few hotels in the world to take the lead in terms of introducing latest in-room technology. Recent recognition showed the hotel stepped-up their game within the GCC market.
“There is no greater satisfaction for us, as a newly-opened property, than achieving this performance on our first year of operation. We are glad to be able to enhance customer experience and pioneer customer engagement technology in Qatar. Ultimately we trust that guests will enjoy our interactive services and spread the word for us”, Mr. Sabry continues.

- ENDS-

The iPad based In-Room Integrated Solution has been developed and implemented by Mahindra Satyam.
The Torch Doha opened its doors to public in November 2011. Situated at 300m high and with 360° panoramic views across the whole of Doha, the tower is the result of comprehensive architectural, engineering and technical design, formerly shaped to represent a colossal torch which for the duration of the 15th Asian Games in 2006 held its symbolic flame.
Geared for utmost performance, the unique structure of The Torch Doha includes a reception and public area on two floors for 1500 guests; 17 floor of five-star hotel accommodation including 163 rooms and suites; three signature restaurants, a breathtaking revolving restaurant at 240m above ground, four levels of health club with cantilevered swimming pool 80m above ground and a business centre. At night The Torch is illuminated by vibrant LED lights and three massive LED screens which broadcast videos create an eye-catching visual effect for passers-by.

Nominated for the first time at Business Destinations Awards in the Best Luxury Hotel category, The Torch Doha is the proud winner of the Business Destinations Best Luxury Hotel in Qatar 2012.
Recently The Torch Doha has been nominated by MENA Awards as Qatar’s Leading New Hotel.

Located near Khalifa Stadium, Aspire Academy for Sports Excellence, Aspire Park, and ASPETAR Qatar Sports Medicine and Orthopaedic Hospital, the iconic Torch Doha has already hosted high-profile international football teams.

Fashioned to the finest international standards at the centre of the Aspire Zone, The Torch Doha awaits guests to explore its finesse, introducing them to a new era of Qatari hospitality.#]

publié le 11 January 2014

Qatar: Tourism in Tomorrow’s World Conference

presse release

​‘Tourism in Tomorrow’s World Conference’
on 23 -24 February 2014 at Renaissance Doha City Centre Hotel, Doha, Qatar

The first Tourism Conference of its kind in Qatar will set the tone and image of an annual Tourism and Travel Conference as a dynamic forum that covers every sector of tourism & hospitality, addressing relevant current topical issues and new industry developments and trends in the GCC and factors that affect tourism in the region.

The clear purpose of this conference would be to underline the importance of tourism for Qatar and the region, focus on Qatar’s tourism growth and showcase its culture and heritage. Qatar Tourism Authority predicts there will be up to 127,000 hospitality jobs by 2030 in Qatar. On a global scale tourism contributes 9% of the world’s GDP and provides 260 million jobs, with one in 11 jobs being tourism related.

The two day Conference would feature well known international speakers – UNWTO General Secretary General, Dr Taleb Rifai Qatar Tourism Authority Chairman, H.E Issa Al-Mohannadi, and top international tourism academics and futurists on what the future holds for hospitality in the region.

The Conference would bring together and highlight all aspects of tourism that are reflected in Qatar – such as sun & beach ‘family’ tourism, MICE (business ) tourism, cultural tourism, sports tourism, education tourism, ’green’ tourism and health tourism. In addition, the Conference would want to reflect tourism in the Arab world and invite speakers from Arab Spring areas such as Egypt to talk about the challenges facing ‘political’ tourism in the region

The Conference would also underline the importance of the tourism industry and hospitality as a career of choice –especially against the background of Qatar currently having 81 hotels today with a further 110 hotels under construction, making it the undisputed hospitality capital of the region. A GCC Tourism Ministers’ Summit is planned to develop a meaningful Communiqué at the end of the Conference on a “Skills Action Plan for Hospitality and Tourism” in the region.
Equally, Qatar is known to be the land of opportunity for construction companies, consultants , architects and designers with $billions being spent on infrastructure and new transport networks needed for 2022, so hotels are becoming the virtual ambassadors for Qatar’s tourism industry, as business men flock from all over the world to get a share of the business boom in Qatar.

Qatar is also a centre for enterprise, as the country’s economy increasingly shifts to non-carbon and private sector enterprise in line with developing a knowledge-based society.

Stenden University Qatar can lay claim to uniquely offering international hospitality business management degree programmes and education that results in jobs and great career paths in the industry on graduation. Its track record shows 98% of graduates are gainfully employed within 4 months of leaving. Stenden is perfectly placed to train hotel staff to acquire the best approach from the front line to warmly welcome visitors, who will then be able to recommend hotels when they reach home and applaud the country’s tourism efforts.

publié le 17 February 2013

SEIB Insurance and Reinsurance Company LLC sponsor of MEED Qatar Projects

press release

[# SEIB Insurance and Reinsurance Company LLC (SEIB) announced its participation in the MEED-hosted conference and exhibition, Qatar Projects 2013. The event will see over 400 attendees dwelling on the entire value chain of Qatar’s infrastructure projects represented by clients, consultants, advisors, contractors, financiers, legal experts and service providers. SEIB will have a dedicated stand during the conference that attendees may visit for advice and business discussions. The event will be held at the Doha Grand Hyatt Hotel from the 17th to the 20th of February 2013. The firm will also be sponsoring an early morning breakfast briefing session prior to the start of the second day activities.#]

[#On the first day of the conference Mr. Farid Chedid, SEIB’s Chief Executive Officer, will take part in a discussion on “The integrated role of banks and insurers in project financing risk”, during the contractor finance panel session. While at breakfast on February 19, SEIB will give a presentation on the subject, “Delay in Project Start-Up: Risk and Mitigation”.

“Qatar Projects 2013 is a perfect platform for SEIB to share its extensive experience in the insurance of large-scale projects,” explained Farid Chedid. “Qatar’s development rate is phenomenal, and this growth is expected to continue for the foreseeable future. As the country gears up to host the FIFA World Cup in 2022, spending on essential projects, including the construction of stadiums, building a metro and national rail network, improving roads and more than doubling the number of hotel rooms in the country are all set to take shape. The projects are thus going to get bigger in magnitude, and will call for more creative solutions to cover their insurance needs. This is where SEIB can step in, and we are more than happy to share our knowledge with the participants.”

Authorized by the Qatar Financial Center Regulatory Authority, SEIB Insurance provides tailor-made corporate and retail insurance solutions, and is especially known for handling complex risk cases. For more information, please visit www.seibinsurance.com.

About SEIB Insurance

SEIB Insurance and Reinsurance Company LLC (SEIB) is a national Qatari company, authorized by the Qatar Financial Center Regulatory Authority under QFC license No. 00114 dated October 21st 2009, and boasting a paid up capital of QAR 109,200,000.
SEIB provides turnkey corporate and retail insurance solutions. SEIB’s highly professional and specialized staff will propose tailor-made solutions to meet the expectations of each client.
#]

publié le 14 March 2009

UAE ENVOY VISITS DUBAI STAND AT ITB-2009

The UAE ambassador to Germany, His Excellency Mohammed Ahmed Al Mahmoud, was among the VIPs who visited the impressive 528-square-metre double-decker Dubai Stand at the International Tourism Exchange (ITB-2009) in Berlin.

The envoy praised the efforts of Dubai Department of Tourism and Commerce Marketing (DTCM) in promoting the UAE in general and Dubai in particular in Germany which remained a top source market for the tourism industry with more and more Germans visitors making their way to the UAE. He said the strong participation of the tourism promotion organizations from the country reflects the huge tourism product offerings and the emergence of the UAE on the world tourism map.

Mr. Mohammed Khamis bin Hareb, DTCM Executive Director Operations and Marketing, welcomed the diplomat and his entourage and presented a memento. Another souvenir was presented by the Dubai Naturalisation and Residency Department (DNRD) which is a co-participant of Dubai Stand.

Backed by a record 96 co-participants, Dubai mounted a strong presence at the 2009 edition ITB being held from March 11 to 15.

DTCM is utilising Dubai’s participation in the world’s largest travel trade fair for the 20th successive year to strongly promote the emirate to the global travel trade, especially among the Germans who has been showing unfaltering interest in Dubai as a year-round business and leisure destination.

German guests at Dubai hotels totaled 255,657 in 2007, while the first half of 2008 recorded 138,125 German visitors at Dubai hotel establishments. During 2007-2008, as many as 276 German tour operators featured Dubai in their holiday packages, an increase of 34 per cent over 2006-2007 period. There has been a 16 per cent increase in German passengers passing through the Dubai airport in 2007, which stood at 1.33 million.

NOTE TO EDITORS:

DTCM is the principal authority for the development of tourism in Dubai, one of the world’s most popular destinations. Established in 1997, it is the sole licensing body for the hotel establishments and tourism-related businesses. Its supervisory role covers heritage sites, cruise terminal and convention bureau. DTCM has 18 overseas offices, including three in China and two in Saudi Arabia.
www.dubaitourism.ae

<http://www.dubaitourism.ae/>

#]


Mohamed Abdul Mannan
Department of Tourism
and Commerce Marketing
Tel. + 971 4 223 00 00 Fax: +971 4 223 00 22
P. O. Box 594, Dubai, U.A.E.
Website: www.dubaitourism.ae

publié le 3 January 2012

$42 BILLION: Massive budget surplus for Kuwait

[#Kuwait’s budget surplus reached 11.6 billion dinars ($41.6 billion) in the first eight months of its 2011-12 fiscal year, double than a year ago on higher than expected oil revenue and lower spending, finance ministry data showed on Tuesday. #]

[#The surplus accounted for 33 percent of the Opec member’s 2010 gross domestic product, according to Reuters calculations. It stood at 5.9 billion dinars in the same period a year ago.

Revenue of the world’s sixth-largest oil exporter was 18.7 billion dinars in April-November, while spending came at 7.1 billion, a mere 36.6 percent of the full-year plan, the data posted on the finance ministry’s website www.mof.gov.kw showed.

Oil revenue reached 17.8 billion dinars in April-November, accounting for 95 percent of the total. The 2011-12 budget is based on an oil price of $60 per barrel.

Brent crude prices have been floating between $98 and $127 per barrel since the fiscal year started in April.

On Tuesday, Brent crude futures extended gains to more than $4, pushing above $111 per barrel on potential threats to supply and supportive data from China, with the dollar’s weakness and a strong open for equities on Wall Street also helping boost oil.

Since 2004, Kuwait’s budget spending has tripled to a record 19.4 billion dinars planned for the 2011-12 fiscal year, which started in April, with expenditure on wages rising almost as fast.

Revenue was set at 13.4 billion dinars in the 2011-12 budget, approved by parliament in June, bringing the projected deficit to 5.99 billion, or 16.8 percent of gross domestic product, according to Reuters calculations. However, the 2011-12 revenue estimate is very conservative given last year’s surge in the price of oil.

In August, Kuwait’s ruler said the misuse of budget surplus, including unproductive spending, has led to structural imbalances in the economy. The country of 3.6 million people has no plans to boost budget spending in the next fiscal year, nor does it expect budget cuts, its finance minister said in September.

A Reuters poll in December forecast Kuwait’s economy would grow 3.5 percent in 2012 and generate a fiscal surplus of 22.9 percent of GDP in 2011-12, the largest among Gulf Arab oil exporters.(Reuters)#]

publié le 20 August 2010

A Night of Local Cultural Treats at Coral Beach Resort - Sharjah

[#To celebrate Iftar and entertain both corporate clients and media, the Coral Beach Resort – Sharjah, is to play host to an evening of drama and traditional hospitality on August 26, with local celebrity, Dedra Stevenson, arranging a night of Middle East cultural treats.#]


[#Author of The Hakima’s Tale, the third volume of which has just been published, Ms Stevenson has introduced a modern approach to Arabic folklore in her novels aiming to bridge the gap between Western and Middle East culture – and guests at the Coral Beach Resort –Sharjah will be entertained with a short dramatic rendition of a passage from the latest volume by local STAR TOO experimental theatre group.
Among the ensemble cast are Victoria Borasio, Sarah Dufayard, Subah Shahib, Tareq Ghosheh, Assem Krouma, Defne Gursoy and Drazwn Lucic who will together bring the heroes and villains of the novel to life.
Following the act, Hajer Abdulsalem will read a chapter from The Revenge of the Blue Jinni which is now available in Arabic too.
According to Jean-Pierre Simon, regional general manager, Northern UAE for Coral Hotels & Resorts, the evening will not only offer opportunities for guests and management to relax and come together in the spirit of Ramadan, it will also provide a novel insight into Arabic culture.

“Dedra Stevenson has created a unique perspective on Arabic folklore and we are delighted to be able to bring a taste of this to our Iftar celebration as a special treat for our valued clients and media,” he said.

“During the Holy Month of Ramadan, our menu of Iftar and Suhoor packages has been designed to offer something for everyone, with exceptional value buffets, Arabic entertainment and a beachfront location … but this is an evening with a difference.”

The showcase resort is offering free food for children under the age of six and a 50 per cent discount for those between six and 12, as well as an Iftar buffet for AED98, inclusive of a wide selection of Arabic favourites, snacks, local sweets, fresh juices and Ramadan drinks.#]

For media contact:
Hina Bakht
Vice President, MPJ (Marketing Pro-Junction)
Mob: 050 697 5146
h.bakht@mpj-pr.com / www.mpj-pr.com

publié le 1 February 2014

A rejuvenating spring break at Amwaj Rotana- Dubai

Guests can enjoy a value-added experience this spring at Amwaj Rotana Jumeirah Beach – Dubai

Amwaj Rotana offers the ultimate spring break experience for guests visiting Dubai, a rejuvenating package that matches the unparalleled oceanfront setting and exclusivity found at Jumeirah Beach residence.

Guests can escape, luxuriate and indulge with the Amwaj Rotana Spring Break package, for 25% off the best available rate.

From exploring the major city attractions by a complimentary shuttle service to a relaxing massage at Bodylines fitness center and getting suntanned by the pool on the terrace; Amwaj Rotana is inviting you to a memorable spring vacation while enjoying delectable delicacies from the Italian, Japanese and International cuisines.

For reservations or more information, please contact us on +971 (0)4 428 2000 or via email at reservations.amwaj@rotana.com.

Terms and Conditions:
- Offer is valid for stays between 1 February – 19 March 2014.
- Minimum length of stay is 2 nights
- Offer is subject to availability
- Bookings are non-refundable


About Rotana

Rotana currently manages a portfolio of over 85 properties throughout the Middle East and Africa with an aggressive expansion plan in place. Rotana has chosen to acknowledge how precious time is by making all time spent in their range of hotels ‘Treasured Time’. This means Rotana has pledged to understand and meet the individual needs of all guests. In so doing, Rotana has evolved its product brands to include, Rotana Hotels & Resorts, Centro Hotels by Rotana, Rayhaan Hotels & Resorts by Rotana and Arjaan Hotel Apartments by Rotana. Treasured Time. The Rotana promise to you.

Further information on any Rotana property, its brands or reservations can be obtained by visiting rotana.com orby contacting one of the regional sales offices.

publié le 30 August 2011

Abraaj Capital acquires $161 million Amundi’s private equity platform

[#Abraaj.jpgAfter failing in its talks to acquire Citadel Capital, Abraaj Capital just announced it has acquired the North African private equity platform of Amundi, a French asset manager jointly owned by Société Générale and Crédit Agricole - hence taking over their 11 member team and $161 million fund.#]

publié le 20 May 2008

Abu Dhabi crowned the Best Arab City

Abu Dhabi has ousted Dubai to claim the top spot as the Best Arab City to live in, according to the second annual study of its kind published by Dubai-based Saneou Al Hadath magazine. The 2008 study showed a sharp rise in the rankings of many cities compared with last year’s survey, illustrating the remarkable progress made in both the economic and service sectors in the Arab world.

There was, however, a marked deterioration in some cities, where the quality of life dropped dramatically. The report showed a widening gap between Arab cities in the Gulf and those elsewhere. Oil was cited as a major contributor to growth in most GCC cities, but a lack of discernible progress in some Saudi cities proved that petroleum was not the sole factor. Riyadh’s status remained unchanged while Jeddah dropped one place.

Abu Dhabi, Dubai, Doha, Manama and Kuwait City all moved up in the rankings, taking primary positions in most of the categories. The progress some of these cities have made now elevates them to a position comparable to that of some major cities in the developed world, said report author Yazan Neme.

The economic and cultural progress these cities are experiencing have caused a brain drain from other, less developed Arab cities. In seeking a better quality of life, professionals have increasingly been migrating to the GCC. This is having an impact on the progress of the poorer Arab cities, where human resources are the main, or the only, source of progress. Beirut, from where graduates are rushing to Dubai and other Gulf cities, is an example.

Among the 19 Arab cities covered in the study, Abu Dhabi was first, followed by Dubai. In the 2008 study, Abu Dhabi scored very well in the entertainment and culture category – although Dubai retained its top slot here – and also beat Dubai in the business, communication and transport categories.

At the other end of the scale, however, little has changed from last year. Khartoum was placed last, after Algiers. Rabat dropped one place to 17. The most remarkable change in this year’s rankings was Tunis and Beirut. Tunis has moved up to sixth position from 11th last year. Beirut, however, dropped six points to 10th place from fourth last year.

Kuwait City topped the business category, followed by Manama, Riyadh, Jeddah, Abu Dhabi and Doha, while Dubai came seventh.

Although Doha and Dubai are the most economically active Arab cities, they did not top the business category because of their high cost of living and high inflation – 12 per cent in Qatar and the UAE in 2007. Kuwait City came in first due to a number of factors, including Kuwait’s high GDP per capita, which reached $55300 in 2007, and relatively low inflation, at 3.9 per cent (according to the CIA’s World Factbook).The country had the second largest GDP per capita in the Arab world and the fifth largest worldwide.

The UAE’s GDP per capita put the country in sixth position worldwide, down from fourth last year. According to the study, Khartoum is the worst place to do business, coming 19th after Aleppo and Damascus. The two Syrian cities fared poorly in many of the survey’s measurement sources including the World Bank’s Ease of Doing Business index, Transparency International’s Corruption Perceptions Index and the Heritage Foundation’s Index of Economic Freedom.

Abu Dhabi also topped the health category, followed by Dubai and then Doha. Bahrain is the biggest spender on health care, at $871 per capita, while Sudan is the smallest, at $41 per capita. Beirut is the city with the highest percentage of doctors, with 325 per 1000 inhabitants, while Emiratis enjoy the longest life span and the lowest infant death rate.

Both Abu Dhabi and Dubai came first in the security and human rights category. This category factored in murder rates, drug abuse, security, risk of war and gender equality, among others. In its Press Freedom Index rankings, Reporters Without Borders put Kuwait at the top and Syria at the bottom.

Abu Dhabi is again the best Arab city in the communication and transport categories, followed by Manama, Kuwait City and Tunis. Dubai came fifth due to its heavy traffic, though the city has the best road infrastructure, according to the World Economic Forum. The worst roads are in Khartoum.

In entertainment and culture Dubai was again ranked number one. Abu Dhabi, however, made a giant leap to second place.

The UAE as a whole ranked 18th in the Travel and Tourism Competitiveness Report published by the World Economic Forum, beating Tunisia at 34th and Qatar at 36th place.

In education, Amman topped the category, beating Manama and Doha. The Qatari government spends the largest share of its budget on education (28 per cent). On amount spent per capita, Doha shared first place with Beirut and Tunis. Morocco had the highest rate of illiteracy (53.3 per cent). Beirut enjoyed the highest tertiary education rate, at 48 per cent; Khartoum once again scored the lowest.


Source: menareport.com

publié le 13 July 2010

Abu Dhabi firm launches portal on Arab women

[# An Abu Dubai media company has launched a website solely dedicated to Arab women, the firm said Tuesday.
The anaZahra.com aims to reflect the lives, passions and pursuits of Arab women. It also hopes to offer greater interaction and create “a sense of community”, it said.
#]

[#The portal will deal with topics ranging from beauty, fashion, well being to society, personal empowerment and celebrity news.

Innovative digital tools enable a higher level of engagement and connection with audiences. The content is well defined, categorized and easy to navigate.

The overall look and feel is complemented by a minimalist design that conveys freshness and femininity, it said.

“With anaZahra.com, we are redefining the digital media space and entertainment for the region’s women. It is a powerful new platform to add to an exciting array of other digital products we are launching over the summer,” said Ricky Ghai, executive director of Digital Media at Abu Dubai Media Company.#]

publié le 21 October 2015

Abu Dhabi Global Market, world ’s newest financial centre, officially open for business

press release

Abu Dhabi Global Market(“ADGM”), the international financial centre in Abu Dhabi, is pleased to announce that its Financial Services Regulatory Authority (“FSRA”) will commence operations with the acceptance and approval of financial services licence application with effect from 21 October 2015. This follows the publication of the Financial Services and Markets Regulations (“FSMR”) and the FSRA Rules, which establish the legislative and regulatory framework for financial services in ADGM.


Firms and individuals can now apply for the appropriate financial services licences, under an internationally recognisable legislative and regulatory framework, that facilitates their local, regional and international expansion. The new financial regulations and rules framework is comprehensive in scope, spanning a variety of regulated financial services, including, asset management, banking and insurance businesses. The regulations also include requirements to safeguard the interests of the marketplace, market infrastructure system, market conduct rules, and ADGM’s enforcement powers and disciplinary actions.

His Excellency Ahmed Ali Al Sayegh, Chairman of ADGM, said: “Today marks an important achievement in our journey to develop ADGM, an international financial centre in the heart of the capital of the United Arab Emirates, a centre of wealth and a gateway to the growing economies of the region and beyond. We have been steadfast in our strategy of building an IFC based on collaboration and input from local, regional and international institutions to ensure that we offer a jurisdiction that provides businesses with what they need and want in order to grow and succeed.

My sincere appreciation to the wise leadership of Abu Dhabi and the UAE for their vision and to the authorities of the Abu Dhabi government, our expert panel members and key stakeholders for their strong support and valuable guidance.”

He added: “As we look ahead, we will continue developing ADGM with our Courts’ regulations currently in open market consultation phase and the announcement of our Courts’ judges to be made imminently. We have established ADGM with an initial core focus based on Abu Dhabi’s strength of wealth management, asset management and private banking. However, we have the flexibility to grow into a broad based IFC attracting a wide spectrum of financial institutions who will choose ADGM as their home. This will cement ADGM’s global position and ensure we contribute to the global ecosystem of international markets and business networks.”

Richard Teng, CEO of ADGM’s Financial Services Regulatory Authority, added: “The FSRA team is excited and looks forward to welcoming financial services firms who wish to establish their presence and fulfil their business growth in this market and region. As a market regulator, FSRA understands that businesses wish to operate within a trusted financial infrastructure that is anchored by clear, transparent and business-oriented regulations and rules of international standards. In our increasingly borderless business environment, companies and investors can be assured that FSRA is committed to maintaining the fairness and robustness of the ADGM financial system, which fosters business innovation and sustainable growth. This is just the beginning of the journey and we will be here for our companies and investors for the long haul.”

Richard added: “Over the next few weeks and months, we will continue to closely engage financial institutions to help them understand our regulations and assist them with the application process. As an international financial centre, we are dedicated to forging long term and mutually beneficial partnerships with like-minded members and market participants.”

Successful Public Consultations and Enactment of ADGM Financial Services Regulations and Rules

The FSRA is guided by a key principle of close and active engagement with stakeholders. It consulted a panel of global and local industry experts and conducted a successful open market consultation of its proposed financial legislation and regulations during July and August this year. The consultation garnered positive responses and active participation from local and international industry participants. Following an in-depth deliberation of the market feedback, the ADGM Board issued the full suite of Financial Services legislation thereby establishing ADGM’s financial regulatory framework that will govern the operations of the FSRA on Al Maryah Island. The newly enacted financial legislation is available on ADGM’s website at adgm.complinet.com/.

Towards an International Financial Centre in Abu Dhabi

As a financial free zone administered and anchored by a Board of Directors and three independent regulatory bodies, namely the Financial Services Regulatory Authority, the Registration Authority, and the ADGM Courts, the ADGM is committed to fulfill its ambition to become one of the world’s leading financial centres. Both local and international companies can tap on ADGM’s strengths and service offerings in asset management, private banking, family offices and wealth management to further develop and expand their business and growth plans in Abu Dhabi and the fast-growing markets in the region well into the future.

ADGM is now operational with the introduction of the financial services regulatory framework and the recent key appointments at the independent ADGM Courts. The ADGM Registration Authority has been operational and reviewing licence applications from non-financial services firms since 15 June 2015 when the ADGM commercial regulations were published. ADGM has been working closely with Al Maryah Island tenants and new industry participants to create greater awareness of and assist them in better understanding the registration framework and licencing requirements for the financial free zone. Currently, ADGM is consulting the public on its draft Courts regulations that will establish the framework and environment of ADGM Courts and judicial system.

publié le 21 February 2008

Abu Dhabi Securities Market: Trading on the rise

Abu Dhabi Securities Market (ADSM)Abu Dhabi Securities Market (ADSM) posted an impressive rise in institutional investment, particularly foreign participation, whose net investment amounted to AED 9.9 billion in 2007 compared to AED one billion in 2006, showed an overview of the market activities released by ADSM.

The report also showed that the value of trading increased by 148.4% from AED 70,6 billion in 2006 to AED 175,3 billion in 2007. The daily average value of trading went up by 177.8% from AED 250.4 million to AED 695.8 million per day. The number of traded shares increased 361% from 11.3 billion shares to 52.1 billion shares. The daily average traded shares also rose more than 415% from 40.1 million shares to 206.6 million traded shares per day, WAM reported.

publié le 28 May 2012

Accor focuses on Saudi Arabia as key expansion market

[# Accor Middle East, one of the leading hospitality operators in the region, is strengthening its presence in the Kingdom of Saudi Arabia (KSA).#]

[#Hot on the heels of the signing agreement with Munshaat Real Estate Projects Company to launch the 1315-room Zamzam Pullman Makkah, formerly Zamzam Grand, at the recent Arabian Travel Market (ATM) held from 30 April to 3 May, the Group has announced that it has also signed a management contract to develop a midscale hotel in Jizan.

Christophe Landais, Managing Director Accor Middle East, said: “The Kingdom constitutes a strategic base for Accor to develop its world-class brands. The tourism industry in KSA rapidly expands and our development plans reflect the growing demand for high quality hotels in this market.”

Accor currently operates 12 hotels in KSA representing 3,346 rooms in 6 different cities under the brands Sofitel, Pullman, Novotel and Mercure. Some of the flagship properties can be seen for example in Riyadh with Novotel Al Anoud or in Al Khobar with Sofitel the Corniche.

Both Zamzam Pullman Makkah and the 253-room Pullman Al Hamra, formerly Sofitel Al Hamra in Jeddah, will undergo an extensive renovation to truly portray the core characteristics and values of the Pullman brand. The renovation will start with the public areas and restaurants in late 2012 and will continue with the full refurbishment of the suites and rooms.

The upscale Accor Pullman brand was globally launched in late 2007, and the first Pullman in the region successfully opened in October 2010 in Dubai with the 481-room Pullman Mall of the Emirates.

"We have two Pullman properties under development in the UAE and Qatar and we are currently in discussion for potential Pullman developments in the Kingdom with the upscale Pullman product offering meeting both investors’ and end users’ requirements,” added Landais.

Accor, as the pioneer in the economy hotel segment with its ibis brand, has an objective to operate a network of 15 to 20 ibis hotels in the Kingdom. Strengthening its leadership position, it will be the first international operator to introduce an internationally recognised economy brand in the Kingdom. It will debut its 176-room ibis hotel in Riyadh in December 2012 and its 196-room ibis Yanbu in 2013.

In addition, 3 hotels are currently under construction or at design phase and will bring the KSA network to a total of 17 hotels at horizon 2015: Ibis Jeddah Malik Road by 2014, Adagio Jeddah Malik Road by 2014 and Novotel Jizan by 2015.

Accor will also focus on the Holy Cities of Makkah and Madinah where religious tourism is growing. Makkah will welcome over 10 million pilgrims per year and this number is expected to rise significantly in the upcoming years, due to the improvement of local infrastructures such as Jeddah Airport’s renovation which will have a capacity to service 30 million passengers per year upon completion.

As one of the resource speakers at two panel sessions during the Kingdom Hotel Expansion Summit 2012 (KHES 2012), at the ‘Loyalty programmes: Valuable USP or a costly must-have’ session and at the ‘Future of human resources in the hospitality sector’ session, Landais will provide interesting insights on how to attract and retain members through its innovative loyalty programme Le Club Accorhotels, as well as his thoughts on training and preparing the Saudi youth for a career in hospitality and an update on Accor’s Saudisation plan in the Kingdom.

Louis Durand, development manager at Accor ME, is also part of the panel session ‘The budget and mid-market brand explosion in the Kingdom’ while Bassem Salem, regional director of revenue management at Accor ME, speaks at the ‘How to get revenue right’ session.

About Accor ME
Accor ME is one of the fastest growing hospitality groups in the Middle East. Currently, the Group’s regional portfolio includes a total of 57 operational hotels representing 13,672 rooms in ten countries. Among the existing global brands ranging from Sofitel, Novotel, Mercure and ibis, new brands such as Pullman and Adagio are emerging as strong players in the region.

With over 25 years of regional experience, Accor ME is the first to establish a training academy. Dubbed as Tamheed – Accor Academie Middle East, the training facility is dedicated to educate and prepare staff at all levels and ensure optimal career development.

About Accor

Accor, the world’s leading hotel operator and market leader in Europe, is present in 92 countries with more than 4,400 hotels and 530,000 rooms. Accor’s broad portfolio of hotel brands - Sofitel, Pullman, MGallery, Novotel, Suite Novotel, Mercure, Adagio, ibis, all seasons/ibis Styles, Etap Hotel/Formule 1/ibis budget, hotelF1 and Motel 6 - provide an extensive offer from luxury to budget. With more than 180,000 employees* in Accor brand hotels worldwide, the Group offers to its clients and partners nearly 45 years of know-how and expertise.#]

publié le 13 March 2010

Accor Hospitality steps up expansion in Turkey

The beginning of 2010 featured the opening of a Novotel and an ibis in Gaziantep,and a Novotel and an ibis in Kayseri.

Accor Hospitality, which already has 4 hotels in Turkey (Novotel Istanbul, Novotel Trabzon, ibis
Istanbul, ibis Eskisehir) continues to expand there through its Novotel and ibis brands in
partnership with AKFEN, the firm that constructs and owns the buildings.
Gaziantep and Kayseri are both crossroads of significant economic and industrial activity in Turkey
and are appropriate locations for hotel expansion.
„Kayseri is both a business and a leisure destination (close to Cappadocia) and Gaziantep, which
is Turkey’s cotton capital, has become the country’s port of entry by road from the Middle East ever
since the frontier with Syria was reopened”, explains Bruno Coudry, Managing Director of Accor
Hospitality Central and Eastern Europe.
Novotel, Accor’s midscale brand, is designed to cater for both business and leisure travellers. ibis,
Europe’s economy hotel leader, offers its business and leisure customers the best value for money
in its market sector. The international reputation and acknowledged know-how of both brands
makes them the best suited in the group’s portfolio to fulfil its current ambitions in Turkey.
The Novotel Gaziantep (92 rooms) and the Novotel Kayseri (96 rooms) offer the brand’s latest
innovations.
They cater for both leisure and business travellers with numerous services:
- Meeting@Novotel offers spacious conference rooms and free Internet connection for
business customers.
- The outdoor pool (at the Novotel Gaziantep) and the fitness room provide a perfect setting
for relaxation
- Web corner on a Mac offers free Internet access in the lobby
Families can benefit all year round from free accommodation and breakfast for two children under
16 sharing a room with their parents as well as late check-out on Sundays so they can make the
most of their week-end stay.
The ibis Gaziantep (177 rooms) and the ibis Kayseri (160 rooms) offer business and leisure
customers the best value for money in their market sector. ibis is the European leader in economy
hotels and its brand’s standards guarantee customers:
- A location close to airports, stations, business centres and the main tourist sites;
- A modern and fully-equipped room;
- 24/7 services;
- 24/7 bar and hot and cold snack services;
- Wifi internet connection in common areas;
- Breakfast from 4am to 12pm;
- And of course the “15 minute Satisfaction Guarantee”.
The "15-minute Satisfaction Guarantee" is a unique example of how demanding the ibis approach
is. If a guest pinpoints a problem that falls under the hotel’s responsibility, the hotel team gives
itself 15 minutes to find a solution, and this applies 24 hours a day, seven days a week.
Accor Hospitality’s next scheme in Turkey is a new ibis in Bursa due to open in 2011.


Accor, a major global group and the European leader in hotels, as well as the global leader in services to corporate
clients and public institutions, operates in nearly 100 countries with 150,000 employees. It offers to its clients over 40
years of expertise in two core businesses:
- Hotels, with the Sofitel, Pullman, MGallery, Novotel, Mercure, Suitehotel, Adagio, ibis, all seasons, Etap Hotel,
Formule 1, hotelF1 and Motel 6 brands, representing 4,100 hotels and nearly 500,000 rooms in 90 countries, as well as
strategically related activities, Thalassa Sea & Spa, Lenôtre, CWL.
- Services, with 33 million people in 40 countries benefiting from Accor Services products in employee and constituent
benefits, rewards and incentives, and expense management.

accor.com

publié le 13 October 2010

Accor Middle East bolsters its ibis network with appointments of New GMs

Press release

Accor ME boosts the regional network of its leading economy hotel brand ibis, with the appointment of new GMs in Kuwait and Jordan: Bruno Debray as the General Manager Delegate of two ibis Hotels in Kuwait - ibis Salmiya (175 rooms) opened since March 2008 and the soon-to-open ibis Sharq (160 rooms); Nusrat as the Hotel Manager for ibis Sharq; and Yasser Bahaa as General Manager of ibis Amman (158 rooms).

[#Bruno Debray, a French national with 12 years of experience in the Middle East alone, is a seasoned hotelier. Prior to joining ibis Kuwait, he led the successful opening of Novotel & ibis Deira City Center in Dubai. He also managed Mercure Grand Jebel Hafeet Al Ain. Bruno has been with the Accor GroupAccor GroupLoading... for 8 years.

Nusrat will be supporting Bruno as the Hotel Manager for ibis Sharq. He was Assistant GM at ibis Salmiya before being promoted to his current post.

Yasser Bahaa, a 44-year old Egyptian national, will lead AccorAccorLoading...’s first ibis hotel in Jordan, ibis Amman. He was General Manager of Mercure Umm Al Qura in KSA and has been with the Accor GroupAccor GroupLoading... for 14 years. Yasser has a keen understanding of the hotel business developed through several successful international postings.

Bruno, Nusrat and Yasser, together with their team, will continue to develop and promote the ibis brand in these two key markets.

- Ends-

Accor MEA is one of the fastest growing hospitality groups in the Middle East. Currently, the company’s regional portfolio includes a total of 35 operational hotels in nine countries. Among the existing global brands ranging from Sofitel, Novotel, Mercure and ibis, new brands such as Pullman and Adagio are emerging as strong players in the region.

With over 25 years of regional experience, Accor MEAccor MELoading... is the first to establish a training academy. Dubbed as Tamheed - AccorAccorLoading... Academie Middle East, the training facility is dedicated to educate and prepare staff at all levels and ensure optimal career development.

About AccorAccorLoading...:
AccorAccorLoading..., the world’s leading hotel operator and market leader in Europe, is present in 90 countries with 4,100 hotels and close to 500,000 rooms.

AccorAccorLoading...’s broad portfolio of hotel brands - Sofitel, Pullman, MGallery, Novotel, Suite Novotel, Mercure, Adagio, ibis, all seasons, Etap Hotel, Formule 1, hotelF1 and Motel 6, and its related activities, Thalassa sea & spa and Lenôtre - provide an extensive offer from luxury to budget. With 145,000 employees worldwide, the Group offers to its clients and partners nearly 45 years of know-how and expertise.#]

LOCAL PRESS CONTACT :
Ferial Kurimbux
ACCOR Middle East
Email: ferial.KURIMBUX@accor.com
Tel. No. +971 4 377 2501
Fax No. +971 4 395 1152

publié le 4 November 2015

Al Ahli Holding Group Partners With Twentieth Century Fox Consumer Products To Open Fox World Theme Park And Resort In Dubai

press release

Al Ahli Holding Group (AAHG) in an international licensing partnership with Twentieth Century Fox Consumer Products, announced today plans to build a Fox-branded theme park and resort in Dubai. This will be the second 20th Century Fox World theme park and the first Fox-branded resort. The deal allows for a roll-out of up to three additional Fox-branded resorts in territories outside Dubai.

20th Century Fox World, Dubai, an immersive entertainment destination, will encompass themed lands featuring unique attractions, rides and retail outlets that will bring to life the studio’s iconic film and television franchises. The licensing partnership with AAHG also calls for the creation of the world’s first Fox-branded resort, where themed rooms and dining opportunities will offer visitors a chance to further immerse themselves in the entertainment brands and rich history of 20th Century Fox.

Highlights of 20th Century Fox World, Dubai will include:

Theme park consisting of themed lands and attractions based on Fox properties, including, Ice Age, Rio, Planet of the Apes, Aliens, Predator, Night at the Museum and Titanic, The Simpsons and Sons of Anarchy.
A broad attraction mix, ranging from media-based dark rides to thrill rides that will tell new stories based on Fox film and television brands.
A themed retail street featuring unique shopping and dining based on Fox properties.
The world’s first Fox-themed resort hotel.
"20th Century Fox World, Dubai is the second Fox theme park destination and marks an important step forward in our global theme park strategy. Fox World will be a world-class destination that will help fuel Dubai’s emergence as a global tourism destination," said Jeffrey Godsick, President of Twentieth Century Fox Consumer Products. "This park builds on the foundation being laid by 20th Century Fox World, Malaysia, currently under construction."

Mohammed Khammas, CEO of Al Ahli Holding Group said, "AAHG’s history in the genre of entertainment is replete with successful partnerships with top motion picture studios. We pride ourselves in understanding the pulse of the audience and catering to it with novel and breakthrough projects."

"Fox’s rich history of great entertainment-based intellectual properties from movies, television shows and animation concepts will help us spearhead this project and add value to our latest offering in the global entertainment space. As part of our international deal with Fox, we look forward to building these attractions and resorts globally starting with Dubai as the first location and additional Fox branded resorts that we hope to open across other territories in the future," added Khammas about AAHG’s deal with Fox.

"We are thrilled to partner with Al Ahli Holding Group on this exciting project," said Greg Lombardo, Senior Vice President of Global Live and Location Based Entertainment for Twentieth Century Fox Consumer Products. "20th Century Fox World, Dubai will provide an ongoing platform for immersive brand engagement with our consumers from around the world, including key international markets of Europe, Russia and China."

"The synergy created by AAHG’s partnership with Fox will enable 20th Century Fox World, Dubai to offer the consumers in the Middle East and global tourists visiting Dubai to experience world-class facilities with unique attractions and retail outlets that will take themed entertainment to a different level," said Manoj Aheeray, Director of Investment and Strategy for AAHG.

20th Century Fox World Dubai is slated to open in 2018, Design and Production services are being provided by Rethink Leisure & Entertainment.

About Al Ahli Holding Group (www.alahliholdinggroup.com)

Al Ahli Holding Group is a multi-diversified international conglomerate with over four decades of successfully dealing with business activities ranging from real estate to turnkey construction, engineering and infrastructure, retail and trading, technology and logistics, lifestyle and fitness, entertainment, hospitality and innovative developments. With great passion and a very active portfolio in the entertainment industry, AAHG operates innovative and ground-breaking projects in the UAE. Amongst its portfolio, AAHG owns Dubai Outlet Mall, which is the first outlet mall concept in the Middle East; constructed major landmarks in the Eastern region of UAE; holds the exclusive largest franchise rights to US-based Gold’s Gym International in the Middle East and Africa; established Al Ahli Plastics, one of Middle East’s largest plastic manufacturing companies; holds licenses to publish Marvel, Warner Bros., DC Comics and Sanrio comics and activity books; recently opened Comicave, the world’s largest comic and superhero collectibles destination store at Dubai Outlet Mall; launched Singapore-based Comicave Studios, a manufacturer of high-end collectibles and toys and launched a premiere international events company, Universal Events, which will initially organize the Asia Pop Comic Con events, amongst other international events. Across its multi-entertainment based platforms, AAHG has strategic alliances with Fox Studios, Marvel-Disney, Sony Pictures, Warner Bros., and other leading Hollywood studios. With around 9,000 employees, AAHG is headquartered in the UAE, with representative offices across 20 countries globally

publié le 26 September 2014

Al Jazeera and Qatar Charity host their first ever deaf conference

Al Jazeera, in partnership with Qatar Charity, hosted an inaugural forum on "The Reality and Challenges facing the Deaf Community in the Arab World: Gaza as a Model." The forum saw deaf participants from all over the Arab world and beyond come together to discuss the issues that most matter to them.

Al Jazeera premiered its special episode "Stronger than Words", telling the inspirational story of Gaza’s deaf community, impaired in their everyday lives and especially vulnerable in times of violence – a group that feels the attacks, rather than hears them.

"This is a really exciting day for Al Jazeera – to host a forum and provide a platform completely dedicated to the deaf community in the Arab world, a group often marginalized, is something we are really proud of," said Ahmad Alsaqatri, Deputy Managing Director of Al Jazeera News Channel.

In his speech, Qatar Charity CEO Yousef bin Ahmed Al Kuwari said that Qatar Charity’s interest in such events stems from its belief in the necessity of collaboration and integration among organizations concerned in humanitarian affairs related to the deaf community; a matter which is actively fostered and sponsored by the State of Qatar. Al Kuwari emphasized the significance of the partnership with Al Jazeera in raising the awareness on the difficulties and challenges that the deaf encounter in the Arab world.

Despite the focus on Gaza, the forum saw a lively discussion between the film’s director, diverse members of the deaf community in the Arab World, as well as representatives from the World Federation of the Deaf (WFD) and other local and regional NGOs .The forum also showcased interesting projects and future initiatives aimed at the deaf community in the Arab World, especially those in Gaza struggling to cope in the aftermath of the recent war.

The conference is only one part of Al Jazeera’s greater corporate social responsibility (CSR) in raising awareness on the situation of the deaf community in the Arab world. Al Jazeera has long stood by this cause by being the first Arab media outlet to offer bulletins in sign language and by publishing the Arab world’s first deaf dictionary.

Throughout the week, Al Jazeera Arabic and its online platform (aljazeera.net) will showcase extensive coverage and reports on deaf communities in different Arab countries, focusing on the obstacles and challenges they face in their everyday lives. Al Jazeera’ s renowned Media Training & Development Center will also be offering courses in sign language to both Al Jazeera staff and the greater public.

Qatar Charity is considered the largest and oldest humanitarian organization in Qatar with 18 offices around the world. It has partnerships with a wide range of local, regional and global organizations and dedicates its programs to those with special needs in its quest to have a positive impact in their lives.

Stronger than Words will be available on Al Jazeera English on Tuesday, 30th September 2014.

publié le 11 October 2013

Al Khalij Commercial Bank (al khaliji) Q.S.C. prices U.S.$ 500 million

Al Khalij Commercial Bank (al khaliji) Q.S.C., rated A- by Fitch with stable outlook, has announced the successful pricing of its debut U.S.$ 500 million Senior Unsecured issuance under its newly established U.S.$ 750 million Euro Medium Term Note Programme. The transaction was issued at 99.575% with a coupon of 3.250% and a yield of 3.343%. BNP Paribas, HSBC, QNB Capital and Standard Chartered Bank acted as Joint Arrangers and Joint Lead Managers on the transaction.

The benchmark RegS transaction, which effectively re-opened the conventional Financial Institution credit markets in the GCC region, came on the back of an effective marketing strategy which was undertaken by the Bank’s senior management and Joint Lead Managers. The global roadshow targeted fixed income investor meetings in the key Regulation S financial centers (London, Singapore, Hong Kong, Dubai and Abu Dhabi).

After the Asia and Middle East roadshow meetings were completed, al khaliji came out with initial price guidance of MS +195bps to investors. The orderbook quickly gained significant momentum. As the meetings in London progressed, the orderbook grew further and reached U.S. $ 2.5bn which allowed syndicates to announce that books would go subject same day for London and US offshore accounts while they would go subject on Wednesday October 9th at 10 am in Asia/Middle East. al khaliji subsequently released official price guidance at 8 am London at MS+180bps, 15bps tighter than the initial price thoughts.

Despite the competing supply in the market, al khaliji’s transaction gathered significant interest from the fixed income investor community globally as the Bank was able to effectivey introduce investors to its credit story. The orderbook ultimately closed at U.S.$ 3.5bn, representing 7.0x oversubscription, from more than 230 orders. The interest in the transaction came from a high quality and geographically diverse investor base. al khaliji was one of the few credits to emerge post the summer lull and achieve a majority allocation outside of the MENA region. Furthermore, the orderbook quality was excellent with the participation of several real money accounts.

More specifically, the transaction was allocated to investors across the Middle East (42%), Asia (18%), Europe (37%) and US Offshore (3%). In addition, the types of accounts were also well balanced, with Funds (52%), Banks (28%), Private Banks (10%) and Insurance (10%) investors anchoring the orderbook.

Robin McCall, al khaliji’s Group Chief Executive Officer added: “We are delighted to effectively engage with the global fixed income investor community and introduce them to al khaliji’s credit story. The positive feedback has been overwhelming, as evident by the 7.0x oversubscribed orderbook and the tighter pricing. It is pleasing to see that the bond was well received by a geographically diverse investor base. The outcome of the transaction is a testament that the Bank has the right strategy and will allow al khaliji to continue to support our ambitious growth plans and support the infrastrcucture development in our home market in Qatar.”

publié le 8 February 2013

al khaliji 2012 net profit rises to QR 512.2 million

[# al khaliji (KCBK), in Qatar, released today its consolidated financial
statements for the year ended 31 December 2012 with a Net profit of QR 512.2 million for 2012, 5.2% higher than last year. al khaliji has continued a consistent growth in net profit since its inception.
Al Khaliji France S.A.’s net profit was QR 62 million for 2012, up by 13% compared to 2011.#]

The consolidated financial statements for the year ending 31 December 2012 were approved
by the Board of Directors of al khaliji during its meeting held in Doha on 4 February 2013.
The figures are subject to Qatar Central Bank’s approval.
His Excellency Sheikh Hamad Bin Faisal Bin Thani Al Thani, Chairman and Managing
Director said:
“The good results al khaliji has achieved in a year characterized by a very constrained
banking environment, reveal the clear strategy and vision of our Board of Directors, which
is being well executed by a dedicated team. With a strong focus on our preferred banking
core areas, and realizing the opportunities that presents itself in a low rate environment we
have continued generating good results. We believe that our priority is to continue the
growth while maintaining a solid balance sheet for the expected conditions.”
Income Statement highlights
al khaliji declared a Net Profit of QR 512.2 million, 5.2% higher than last year.
The revenue was generated mainly from the Qatar based conventional banking activities
representing 84%. The remaining 16% was generated from Al Khaliji France S.A., its wholly
owned subsidiary headquartered in Paris (France) with its four branches in four different
emirates in the UAE.

The Net Operating Income for the full year 2012 was at QR 969 million, 3.2% higher than
2011.
The Investment income at QR 396 million was higher than 2011 by 133%. This result
demonstrates the fruits of our prudent investment strategy which continued in 2012,
concentrating on quality, Qatar issued fixed investments.
Robin McCall, al khaliji’s Group Chief Executive Officer stated:
“al khaliji maintained its growth throughout 2012 due to growth in the core business amid
declining yields and profitable investment opportunities while remaining conservative in
its approach.”

Balance Sheet highlights

Total assets increased 24% by the end of 2012 and reached QR 33.7 billion comparing to QR
27.2 billion by the end of 2011.
Al Khaliji France S.A.’s represented 10 percent of the group’s total assets.
Loans and advances by end of 2012 stood at QR 13.0 billion, 13% higher than the previous
year while Deposits grew 43% and were at QR 17.3 billion in 2012 comparing to QR 12.1 billion by the end of 2011. Loans to deposits ratio was at 77% by end 2012.
“In spite of the loan growth in 2012, the loans to deposits ratio was based on sufficient inflows
of deposits which reflects the funders’ confidence in our bank.” Added Mr. McCall.

Cash Dividend

After reviewing the audited financials today, the Board was satisfied with the 2012 financial performance and has proposed a cash dividend of 70% of net profit, i.e. QR 1 per share.
Robin McCall, al khaliji’s Group Chief Executive Officer commented:
“The bank has been paying dividends since 2010. We are well positioned to continue
generating value to our shareholders in the years to come.”

Earnings per share and capitalization
Earnings per share were at QR 1.42 for the full year 2012, 5% higher than 2011.
The capital adequacy ratio was at 21.4% and Tier 1 capital ratio at 19.4%.

Provisioning

On 31 December 2012, the non-performing loans were at QR 59 million, down 5.5% from
2011. The NPL ratio improved from 2011 and was at 0.45% by end of 2012.
His Excellency Sheikh Hamad Bin Faisal Bin Thani Al Thani, Chairman and Managing
Director concluded:
“We are very satisfied with the 2012 results especially knowing that the global economy is still vulnerable. We continue to have a positive outlook for the Qatar economy in 2013 and for the ongoing growth of our bank. We are well positioned to support the government projects and the public sector. Our focus remains on our strategies to grow while maintaining a prudent balance sheet, and remain committed always to provide good returns to our valuable shareholders for the years to come. The bank’s rating was recently affirmed at A- by Fitch with stable outlook which reflects positively for the
future.”

publié le 2 January 2014

al khaliji announces participation in MPHC IPO

presse release

Al Khalij Commercial Bank (al khaliji) Q.S.C., is pleased to announce its participation as a Receiving Bank in the Initial Public Offering (IPO) for Mesaieed Petrochemical Holding Company (MPHC), which commenced on December 31st, 2013 for Qatari citizens. The 22-day IPO subscription period of the MPHC will run until January 21st, 2014.

MPHC, a wholly-owned subsidiary of Qatar Petroleum (QP), plans to raise QAR 3.23 billion by offering 323.19 million ordinary shares at QAR 10.2 per share (including the listing fee of QAR0.2) to the public, that represents a 26% stake in the company. The minimum subscription for individual investors is 50 shares with the maximum being 1 million.

Interested applicants for MPHC shares can enjoy al khaliji financing of up to 100% of the subscription amount at rates as low as 3.5%.

al khaliji customers can apply for MPHC shares at Bin Omran and C-Ring branches or by visiting the bank’s service centre located on the ground floor of its headquarters in West Bay. In addition, al khaliji Premium Banking Relationship Managers will also be assisting the bank’s customers with the subscription and financing details.

For more information on the MPHC IPO and the financing of subscriptions, please call 4494 0000.

publié le 11 July 2011

al khaliji Board appoints Robin McCall as; Group’s Chief Executive Officer

[#Al Khalij Commercial Bank (al khaliji) Q.S.C announced the official appointment of Mr. Robin McCall as Group Chief Executive Officer following the Board of Directors and Qatar Central Bank endorsements.#]

[#In making the announcement on behalf of the Board, H.E. Sheikh Hamad Bin Faisal Bin Thani Al Thani, Chairman and Managing Director praised Mr. McCall for his achievements and dedication to al khaliji’s success:
“Robin McCall has demonstrated an unbreakable commitment to the Bank and excellence in the last period that was recognized and appreciated by the Board of Directors. It is therefore with great pleasure that I announce his appointment.”

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Robin McCall

Mr. McCall, who until recently was the Acting Chief Executive Officer, thanked the Board and the Chairman for their faith in him, and vowed to continue the success of the Bank:
“I thank the Board and the Chairman for their trust in me to lead al khaliji. It is with great pride that I take on this position as Group Chief Executive Officer. Al khaliji has had one unprecedented success after another, and this would not have been possible without the hard work and dedication of the entire al khaliji family and the unshakable values for which al khaliji prides itself on. I am honored to take on this role and to be at the helm while the Bank continues its growth.”

For more information about al khaliji and Robin McCall’s biography, please visit www.alkhaliji.com.

- ends-

Media Contact:
Abeer Al Kalla
Head of Public Relations & Communications
Telephone: + 974 4494 0646
Email: aalkalla@alkhaliji.com

about al khaliji
al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to retail, business, corporate and institutional customers in Qatar, the U.A.E and France.

Headquartered in Doha, al khaliji is one of Qatar leading banks and a member of the Qatar Exchange Index, with QR 22.01 billion in total assets and QR 9.64 billion in customer deposits as of 31 March 2011.
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
al khaliji’s strategy does not simply focus on profitability and increasing market share: it also strives to contribute to the financial sector’s sustainability in the markets where the Bank operates.
Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses the opportunity to expand and grow across the region and throughout Europe.

Visit www.alkhaliji.com and www.alkhaliji.frto discover the latest ‘next generation banking’ news and information.#]

publié le 17 December 2012

al khaliji celebrates Qatar National Day

press relase

[#Al Khalij Commercial Bank (al khaliji) QSC, in celebration of Qatar’s National Day and recognition of the country’s tremendous achievements since its founding, held an event commemorating the day in the presence of H.E Sheikh Hamad Bin Faisal Bin Thani Al Thani al khaliji Chairman and Managing Director at its West Bay headquarters. H.E spoke to the bank staff about what the day represents.#]

[#
“On this occasion, I would like to relay my heart-felt congratulations to His Highness the Emir of Qatar, Sheikh Hamad Bin Khalifa Al Thani, and His Highness the Heir Apparent, Sheikh Tamim Bin Hamad Al Thani, the government, all Qataris, and all those that have worked towards fulfilling our national aspirations and hopes,” said H.E Sheikh Hamad. “As we celebrate National Day, we must bear in mind that we are moving closer each year to fulfilling the pillars of the National Vision 2030; a vision that is quickly becoming reality. Through the wisdom and foresight of this vibrant country’s leadership, Qatar has accomplished what can only be described as ‘the incredible’, with a strong banking sector supporting the growing national economy. We can all be proud that al khaliji, has played an important role in the country’s successes, and look forward to continuing on this path of prosperity and growth.”

al khaliji’s unwavering commitment to the State of Qatar, its institutions, and the national economy, is also acknowledged all year-round with the bank participating in workshops, forums, and other events in line with the Qatar National Vision 2030.
For more information, please visit www.alkhaliji.com.

about al khaliji

al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to premium, business, corporate and international customers in Qatar, UAE and France.

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange Index since 2007, with QR 32 billion in total assets and QR 14.9 billion in customer deposits as of 30th September 2012.

Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services.
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
While financial objectives are key to sustaining our prosperity in any market, at al khaliji we believe that long-term sustainability is maintained by balancing our commitments to achieving our results, with the commitment towards the development of people and the preservation of natural resources.
Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.
#]

publié le 3 January 2012

al khaliji closes down its Islamic Branch

[#Al Khalij Commercial Bank (al khaliji) Q.S.C has closed down its Islamic Branch, as part of its adherence to the instructions issued by the Qatar Central Bank in the first quarter of 2011, requesting conventional banks to close down their Islamic windows.#]

[#al khaliji Chairman, H.E. Sheikh Hamad Bin Faisal Bin Thani Al Thani said, “As a pioneer Qatari bank, al khaliji will remain focused on its Medium-term business strategy, which is aligned to the economic reality in the region. We are leveraging our Treasury Management and Corporate Business, while we continue to offer our preferred Premium and Business Banking customers differentiated banking products and services, in an aim to constantly meet stakeholders expectations.”

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Chairman H.E Sheikh Faysal Bin Hamad Al Thani

Headquartered in Doha, al khaliji is one of Qatar’s leading commercial banks and a member of the Qatar Exchange Index, with around QR 23.85 billion in total assets and QR 11.58 billion in customer deposits as of 30 September 2011.
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
While financial objectives are key to sustaining our prosperity in any market, at al khaliji we believe that long-term sustainability is maintained by balancing our commitments to achieving our results, with the commitment towards the development of the society and the preservation of natural resources. 
Visit www.alkhaliji.com for the latest news and information.

about us

al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to retail, business, corporate and institutional customers.

Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services. 

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange Index, with QR 23.85 billion in total assets and QR 11.58 billion in customer deposits as of 30 September 2011.
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
While financial objectives are key to sustaining our prosperity in any market, at al khaliji we believe that long-term sustainability is maintained by balancing our commitments to achieving our results, with the commitment towards the development of people and the preservation of natural resources. 
Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.
#]

publié le 8 October 2011

al khaliji Executive to Speak at GCC Power and Water Desalination Conference

Mr. Ehsanullah to discuss banks’ roles in infrastructure development

[# In a move that further solidifies al khaliji’s role as an industry leader, the bank will participate in the GCC Power and Water Desalination Summit that will be held in Doha from the 2nd to the 3rd of October, 2011. Mr. Mian Ehsanullah, the Head of Public Sector and Liability Management in al khaliji’s Corporate Banking Division, will represent the bank as a panel speaker at the conference.#]

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[#The conference will tackle technical, environmental, and fiscal challenges facing the Gulf Cooperation Council (GCC) countries with regards to energy and potable water issues. It is estimated that the region will need to spend upwards of $135 billion by the end of the decade to keep pace with demand and to rehabilitate or replace aging and obsolete desalination plants. Key topics in the conference include the possibility of using nuclear energy for desalination, desalination using renewable energy, and opportunities, projects, and challenges in the sector in Saudi Arabia, Kuwait, and Oman. Mr. Ehsanullah himself will discuss project financing in Qatar and the GCC, and mitigating the risks associated with it in his speech entitled “Project Finance – A Bank’s Perspective.”

“The Gulf Cooperation Council countries are, so to speak, at a crossroads,” explained Mr. Ehsanullah. “With some of the highest economic growth rates globally, but at the same time, located in one of the most arid regions in the world, the GCC faces unique challenges with regards to power generation and water supply. Although most of the regional governments can afford to invest heavily into the infrastructures required to sustain their own societies, a private-public partnership in funding these projects is more feasible. That is where the role of banks comes in, and al khaliji is well positioned to discuss this topic, especially with the part we played in financing Qatar’s Ras Lafan C, the country’s largest co-generation plant.”

For the Ras Lafan C co-generation plant, a QAR 14 billion project, al khaliji issued a performance bond for the to the managing company, the Ras Girtas Power Company. QAR 563 million has been secured to the corporation since 2008.

Mr. Mian’s speech at the GCC Power and Water Desalination Summit reinforces al khaliji’s role as local and regional industry leaders. As industry leaders have repeatedly looked towards al khaliji for guidance and leadership. In this conference particularly, high-caliber guests ranging from chief executive officers to field engineers will be attending.

about us

al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to retail, business, corporate and institutional customers.

Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services. 

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange Index, with QR 23.44 billion in total assets and QR 9.96 billion in customer deposits as of 30 June 2011.
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
While financial objectives are key to sustaining our prosperity in any market, at al khaliji we believe that long-term sustainability is maintained by balancing our commitments to achieving our results, with the commitment towards the development of people and the preservation of natural resources. 
Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.#]

publié le 25 May 2011

al khaliji Executives, Key Speakers at the Qatar Investor Relations Seminar

[#Al Khalij Commercial Bank (al khaliji) Q.S.C announced its sponsorship to the Qatar Investor Relations Seminar held in Doha on 23 May 2011. The conference was hosted by the Middle East Investor Relations Society, in partnership with the Qatar Exchange. al khaliji executives, Mr. Christiaan de Beer, Group Chief Financial Officer and Dr. Charbel Cordahi, Head of Investor Relations reflected on the Qatar equity story and the investor relations landscape during panel discussions.#]

[#
The event was attended by executives and experts promoting capital markets and international standards of Investor Relations. Panellist speakers communicated the views of analysts, investors, and fund managers and reflected on why they value IR. Investor Relations professionals from Qatar and the GCC provided insights into their roles and described how their activities add value to issuers, asset and fund managers, and the region capital markets. Commenting on al khaliji sponsorship, Robin McCall, acting Chief Executive Officer, said,
“Over the past 20 years, Investor Relations gained unprecedented attention due to growing globalization of the economy, successive financial crises, cross border investments and the emergence of new players and new regulations. IR is now the eyes and ears of companies in the market: it delivers valuable insight into market sentiment, increases shareholder value, and facilitates the supply of investment capital. We congratulate the Middle East Investor Relations Society for their good work and thank the Qatar Exchange for their continuous support”.

Charbel Cordahi, al khaliji Head of Investor Relations, addressed the importance of having a dedicated IR department. Dr Cordahi said:
“A dedicated Investor Relations team in any organization plays a vital role in enhancing demand for a company’s shares and lower its cost of capital. At the same time, the Investor Relations team plays a role in increasing the trading volume in a company’s shares and increase the liquidity of the company’s securities. IR initiatives also improve analysts’ and specialist financial media’s following and have a positive influence on intangible assets and on the willingness of investors to invest in the company.”
al khaliji Investor Relations department has been highly successful in implementing a performing IR program, setting a strong framework, and strengthening the financial and investor communication processes and channels.
“Our success would not have been possible if it had not been for the essential support of Qatar Exchange, for which I am personally grateful for” said Dr. Cordahi.
al khaliji always seek to be part of thought leadership conferences and seminars that highlight and reflect on key issues in the industry.


about al khaliji

al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to retail, business, corporate and institutional customers in Qatar, the U.A.E and France.

Headquartered in Doha, al khaliji is one of Qatar leading banks and a member of the Qatar Exchange Index, with QR 22.01 billion in total assets and QR 9.64 billion in customer deposits as of 31 March 2011.
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
al khaliji’s strategy does not simply focus on profitability and increasing market share: it also strives to contribute to the financial sector’s sustainability in the markets where the Bank operates.

Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses the opportunity to expand and grow across the region and throughout Europe.

Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation banking’ news and information.#]

publié le 29 July 2011

al khaliji holds it semi-annual earnings press conference

Mid-year results reaffirm al khaliji’s position as Qatar’s fastest growing bank

[# al khaliji, Qatar’s fastest growing bank, held its half year earnings press conference today, after the publication last week of its financials for the 6 months period ended 30 June 2011. The financials showed a strong increase in net profit, which reached QR 249 million on 30 June 2011, up 122 percent from QR 112 million on 30 June 2010. The Q2 net profit reached 130 million, up 141 percent compared to Q2 of 2010.#]

[#The investor conference was attended by Robin McCall, Group Chief Executive Officer and Christiaan de Beer, Group Chief Financial Officer. Also present were Charbel Cordahi, Head of Investor Relations, and representatives of the local media and press.

McCall started the earnings press conference by saying:
“The results achieved in the first half of 2011 are outstanding showing an accelerated momentum in al khaliji’s growth YOY. In addition to achieving profits across our core businesses, we have increased productivity, improved efficiencies, and maintained our prudent approach to risk management”.

The net interest margin increased to 3.3 percent as of 30 June 2011, compared to 2.8 percent at end-June 2010. Net interest income, at QR 300 million, is 59 percent higher than the 188 million in 2010, as interest expense decreased by 36 percent and interest income increased by 15 percent.

Commenting on the decrease in the net income from Islamic financing activities, Christiaan de Beer, al khaliji Group Chief Financial Officer, said:
“The decrease results from al khaliji’s need to comply with Qatar Central Bank’s directive on conventional banks’ Islamic activities: the Bank ceased extending Islamic facilities to, or taking Islamic deposits from new customers”.

al khalii continues to expand its fee and commission based activities. Net fee and commission income for the 6 months period ended 30 June 2011 reached QR 56 million, up 13 percent compared to June 2010.

Net operating income reached QR 497 million on 30 June 2011, up 55 percent compared to the corresponding period in 2010, when it reached QR 321 million.

Commenting on the continuous improvement in the cost to income ratio, which reached 38 percent on 30 June 2011, compared to 58 percent in June 2010, Robin McCall, al khaliji Group Chief Executive Officer, said:
“The cost-to-income ratio reflects the enhanced operational efficiency and improved productivity – as the Bank generates higher profits and optimizes the business processes. Post the termination of merger discussions, we have commenced projects that were placed on hold and we will be looking to invest in additional human capital to fulfil positions placed on hold during the merger discussions".

The operation in Qatar’s conventional banking activities contributed to 85 percent of the net operating income while Al Khaliji France S.A., the wholly owned subsidiary headquartered in Paris, France and present in 4 emirates in the UAE, contributed 14 percent.

Earnings per share (EPS) increased to QR 0.69, 2.2 times H1 2010’s EPS. Return on average shareholder equity is 11 percent, and return on average assets is 2.6 percent, compared respectively to 4.8 percent and 1.3 percent at 30 June 2010.

The results reflect the success of al khaliji wholesale led strategy – central to which is the Bank’s focus on supporting its preferred customers in Qatar, the UAE, and France. The disclosure of al khaliji results came after CPI Financial rated al khaliji as the number one growing bank in Qatar in three areas: growth in return on assets, growth in total income, and growth in net profit. The same survey rated al khaliji as the 25th best performing bank in 8 regional countries, including the GCC, Jordan and Lebanon.

The capital adequacy ratio is at 24 percent on 30 June 2011, confirming the Group’s financial strength.

al khaliji continues its expansion in Qatar, the UAE, and France. Lately, it acted as a mandated lead arranger on the USD 600 million equivalent term loan facility for Zain KSA, a subsidiary of Zain Kuwait and one of the leading telecommunication operators in the GCC and wider Middle East region.

Loans and advances increased by 17 percent since the beginning of the year and reached QR 8.46 billion on 30 June 2011. De Beer commented:
“No-one expected a year ago that both Europe and the US would be struggling with economic stagnation, nor did anyone foresee the political tension in the MENA region. This type of uncertainty causes both borrowers and banks to be more cautious. Once again we can highlight that the Qatar Government and QCB are leading the world in how to properly manage economic cycles and debt. We applaud them for that”.

On the funding side, al khaliji continues to attract retail and wholesale deposits from its customers – conventional customer deposits were up 25 percent and reached QR 9.96 billion on June 30, 2011 – and to maintain its healthy loan-to-deposit ratio – which stood at 85 percent at end-June 2011.

On 30 June 2011, non-performing loans and advances (NPLs) amounted to QR 54 million, down from QR 100 million on 31 December 2010. The NPL ratio continues to improve to 0.6 percent, down from 1.3 percent in December 2010. The Bank’s set aside QR 26 million for impairment losses on loans, net of recoveries, for the first half of 2011.

Commenting on the latest economic and market developments, al khaliji Group CEO said:
“Economic projections point to continued growth in Qatar in 2011 and 2012, but we must remain vigilant about the near-term outlook and growing uncertainties in the region, which may affect investor sentiment and delay a number of projects and plans. The regional external balances are improving with oil and gas prices increasing, but we need to be cognizant that hydrocarbon volatility and prices may contribute to business uncertainty”.

Commenting on his appointment last month as Group CEO, McCall, who served as acting CEO since 2009, said:
“I am honored to be appointed as Group Chief Executive Officer. al khaliji successes would not have been possible without the hard work and dedication of the entire al khaliji family”.

Answering questions about the decision made last month to end merge negotiations with IBQ, McCall said:
“Final terms could not be agreed and as a result both parties agreed to discontinue merger talks".

When asked about how does the cessation of merger talks affect al khaliji plans, McCall said:
“al khaliji has a clear wholesale led strategy and continues to execute against these plans. The Bank has remained focused and committed to delivering on its chosen strategy during merger discussions – it remains “Business as Usual” as it continues to pursue its growth momentum in 2011”.

McCall concluded:
“al khaliji, is a young bank. It was incorporated in 2007 but only commenced retail operations in July 2008. During the financial crises, we have acquired a European Bank with branches in the UAE, have changed direction with regards to the Bank’s strategy, have been in prolonged merger discussions for over a year, and yet with all this activity we have remained focused on delivering value to our shareholders, preferred customers and employees. We believe we have the foundations and intellectual capital to continue to unlock shareholder value, as the country continues its planned growth mapped out by the Qatar National Development Strategy and the award of FIFA 2022 world cup”.#]

publié le 2 November 2011

al khaliji introduces specialized contracting finance division for FIFA 2022 projects

press release
  • Bank launches contracting division to support contractors involved with government and semi government projects
  • Contractors and subcontractors can take advantage of dedicated relationship managers and other benefits

[# With the winner of the FIFA 2022 World Cup management contract expected to be announced this month, Al Khalij Commercial Bank (al khaliji) QSC is poised to become the bank of choice for contractors and subcontractors with the launch of the al khaliji’s specialized contracting finance division to support infrastructure projects.#]

[#“Qatar is expected to spend a staggering $150bn on hosting FIFA world cup 2022. The major projects include development of Metro Rail, state of art stadiums, hotels as well as other infrastructure projects. Major contractors and sub contractors involved in these projects will need to resort to bank finance. al khaliji has introduced a Specialized Contracting Finance Division to cater the requirements seamlessly and efficiently for Contractors and subcontractors awarded with subject projects” said Robin MCcall, Group Chief Executive Officer, al khaliji.

“The specialized contracting finance division will support financing needs of contractors in all sectors including Engineering, Procurement and Construction(EPC) contracts, Civil Works and Mechanical, Electrical and Plumbing (MEP) contracts. The set up of a specialized division will provide contractors with swift approvals through focused relationship managers with industry expertise and market updates. This cohesive internal model is very much in-line with our corporate strategy. al khaliji has been supporting many local, regional and international contractors for various strategic projects in Qatar such as Ras Girtas Power Plant and Water Desalination, Ras Laffan Port Expansion, Doha Convention Center, F Ring Road Project and the Qatar National Museum Project amongst other strategic projects.” Further explained Robin McCall, Group Chief Executive Officer, al khaliji.

With total assets of QR 23.85 billion, and a totally equity of QR 5.4 billion with an adequacy ratio of 24.2% as of 30 September 2011, al khaliji is financially capable of supporting the large-scale projects that are expected to be implemented building up to FIFA 2022.

For more information about al khaliji’s Project Finance call 44940792 974+ and for more information about the Bank, please visit www.alkhaliji.com.


about us

al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to retail, business, corporate and institutional customers.

Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services. 

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange Index, with QR 23.85 billion in total assets and QR 11.58 billion in customer deposits as of 30 September 2011.
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
While financial objectives are key to sustaining our prosperity in any market, at al khaliji we believe that long-term sustainability is maintained by balancing our commitments to achieving our results, with the commitment towards the development of people and the preservation of natural resources. 
Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.
#]

publié le 4 November 2012

al khaliji maintains growth momentum QR 378 million net profit for the 9 months ended 30 September 2012

Al Khalij Commercial Bank (al khaliji) Q.S.C announced today its 9 month results for the period ending 30 Sept 2012, showing a net profit after tax of QR 378 million.

[#

  • Net profit up by 5.3% compared to 30 September 2011
  • Total assets at QR 32 billion, up by 19 % since the beginning of the year
  • Total customer deposits up 23 % this year

Net Operating Income reached QR 662 million. Revenues grew in both local and international segments: Qatar’s conventional banking activities contributed 81% of the net operating income while Al Khaliji France S.A., the wholly owned subsidiary headquartered in Paris, with branches in the UAE, contributed 19%.

Al Khaliji France S.A.’s net profit reached QR 49 million, up 17% compared to September 2011.

The Board of Directors of al khaliji convened today in Doha, Qatar, chaired by His Excellency Sheikh Hamad Bin Faisal Bin Thani Al Thani, Chairman and Managing Director. The Board examined the Group’s results for the third quarter and approved the Interim Consolidated Financial Statements for the 9 month period ended 30 September 2012.

His Excellency Sheikh Hamad Bin Faisal Bin Thani Al Thani, Chairman and Managing Director, said:
“We are pleased with the Bank’s 9 months results, achieved against a backdrop of declining international economic activity and a challenging political environment. We will continue to seek and pursue responsible strategies relevant to the uncertainties of the day. As always we support and remain aligned to the vision and objectives of the State of Qatar.

The profit for the 3-months period ended 30 September 2012 reached QR 117 million.

Net interest income, at QR 399 million, is 12% lower than the QR 452 million achieved in the same period in 2011, largely due to shrinking margins, record low asset yields and the low level of interest rates.

al khaliji continues to expand its fee and commission based activities. Net fee and commission income for the 9 months period reached QR 84 million, up 8% compared to September 2011.

General and administrative expenses are down to QR 210 million, compared to QR 225 million in September 2011. The cost to income ratio continues to improve and reached 40% on 30 September 2012, compared to 41% in September 2011.

Earnings per share (EPS) increased to QR 1.05 compared to QR 1.00 in Q3 2011.

The capital adequacy ratio is still at a healthy 22.1% on 30 September 2012, well above Qatar Central Bank and Basel III requirements, confirming the Group’s ability to sustain its growth objectives.

al khaliji’s total assets reached QR 32 billion on 30 September 2012, up by 19% since the beginning of the year, with overseas operations representing 11% of the Group’s total assets.

With its focus on supporting al khaliji’s preferred customers, the bank increased loans and advances by 11% since the beginning of the year and reached QR 12.6 billion on 30 September 2012. As part of the Bank’s preparation for Basel III and its liquidity management strategy, it continues to acquire high grade financial investments.

On the funding side, al khaliji continues to attract deposits, enabling the bank to maintain a healthy loan-to-deposit ratio of 84%.

Robin McCall, Group CEO of al khaliji, said:
“We foresee increased momentum developing with regards to the planned Qatar infrastructures spend. al khaliji remains well positioned to participate in this build out and we will continue to support this credit growth with our preferred customers. Our liquidity and funding position is a key focus area where we intend to remain strong against a backdrop of uncertain global market conditions. We intend to make a bond issuance in 2013 to further strengthen our long term funding arrangements”

On 30 September 2012, non-performing loans and advances (NPLs) amounted to QR 57 million, down from QR 62 million on 31 December 2011. The NPL ratio is at 0.44%, down from 0.55% in December 2011.

Commenting on the growth and the current economic environment, McCall noted:
“al khaliji’s core business is Qatar centric with a GCC coverage model. This single market has experienced robust growth rates and our sentiment for sustained returns remains positive given the strong underlying fundamentals. Qatar’s hydrocarbon wealth and planned economic diversification bolstered by significant infrastructure build-out in the coming years will drive growth in the banking sector. The slow pace of fiscal and economic reforms in the Euro bloc combined with the tepid pace of recovery in the US and the need to address the potential US ‘fiscal cliff’ that may transpire in 2013 remains a concern. We are mindful of potential contagion risks should there be an escalation of instability within the region”.

Finally, the awarding of A- Fitch Credit Rating earlier this year and the recent benchmark study by CPI Financial which ranked al khaliji as the 16th top growing bank in the region, confirms that the bank is establishing itself in its chosen markets.
#]

publié le 16 July 2013

al khaliji named “Best Premium Bank” in the Middle East

Press relaese

Al Khalij Commercial Bank (al khaliji) Q.S.C., has been named “Best Premium Bank” in the Middle East by the Banker Middle East Industry Awards 2013. Organized by CPI Financial, the annual Banker Middle East Industry Awards sets the benchmark for successful banking in the MENA region.

al khaliji’s Group Chief Executive Officer, Robin McCall said: “We are honored to be recognized by the Banker Middle East Industry Awards 2013 as the “Best Premium Bank”. This is a reflection of al khaliji’s commitment to growth and to establishing an innovative customer focused strategy that can lead the way in this growing sector.”
At this year’s Banker Middle East Industry Awards 2013, nominations were received from around 200 banks and financial institutions from across the Middle East region covering a variety of financial services including retail, corporate, investment, private banking, asset management, fund management, finance companies and consultancy practices.

This is the second time this year al khaliji has been recognized by Banker Middle East Awards. For two consecutive years, al khaliji has been awarded for offering the ‘Best Premium Banking Service’ to its Affluent and High Net Worth customers, and earlier this year the bank received the “Best Structured Product Award”.

Mohamed Abdulkhalek, al khaliji’s Group Chief Business Officer said, “al khaliji has been able to demonstrate its competitive presence and strong offerings in the market by providing high quality products and services.”

al khaliji Premium Banking offers a series of services packaged under one brand. There are different components in the service: A dedicated relationship manager, access to upgraded and exclusive Premium centers at the branches, preferential rates on all types of loans and deposits, family benefits, and complimentary ‘Priority Pass’ membership. However, the element that stands out in this service is ‘Doorstep Banking’ whereby the customer’s dedicated relationship manager will come to their place of work or home to handle personal banking requirements that are generally carried out in the branch would normally require them to visit a branch.

For more information about al khaliji’s products and services, please visit www.alkhaliji.com

publié le 9 October 2011

al khaliji offered support to Middle East SME conference

[#In testament to its commitment to Small and Medium Enterprises (SMEs),Al Khalij Commercial Bank (al khaliji) Q.S.C, offered support to the Middle East SME Forum 2011 in the form of ‘Joint Strategic Partner.’ The conference organized by Fleming Gulf Conferences took place in Abu Dhabi from the 3rd to the 4th of October, 2011.#]

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Middle East SME conference-

[#“SMEs in the region, and Qatar in particular, will have a larger role to play in their countries as their economies diversify,” said Mr. Satish Kumaraswami, Group Head of Business Banking at al khaliji. “In Qatar, for example, the 2030 Vision specifically targets economic diversification and moving away from reliance on the hydrocarbon and petrochemical industries. Of course, that means the development of SMEs is key to meeting this goal. As al khaliji is a leader in this front, it was only appropriate that we support and participate in this conference.”

The Middle East SME Forum 2011 provided a platform for industry and government leaders to discuss the challenges and opportunities facing the SME segment. In most countries, SMEs make up 70% of the economies; even though that is not necessarily the case for GCC states, regional governments have provided backing and funding for the development of this sector in a bid to diversify their economies and lower unemployment. Mr. Kumaraswami delivered a presentation entitled ‘A Successful Story to SME Growth’ on behalf of al khaliji.

“As al khaliji has been very active in supporting SMEs in Qatar, we hoped that sharing our customer experiences with the audience would provide valuable insight,” explained Mr. Kumaraswami.

In addition to sponsoring the Forum, al khaljii also played a role in the conference’s Advisory Council, represented by Mr. Kumaraswami. This group was set up as a ‘think-tank’ to provide high-quality education on subject matters that impact the region’s SME segment.

“al khaliji is recognized in the region at the forefront of SME counseling and development,” said Mr. Kumaraswami. “For over two years, we have been supporting SME initiatives in Qatar through our Business Banking division with dedicated relationship managers focusing on the unique needs of these companies. Therefore, a seat on the Advisory Council was not only an honor for al khaliji, but equally fitting.”

The inaugural forum was a first in Fleming Gulf Conferences’ portfolio of events dedicated to the SME sector. The organizers believe that forums such as this will give banks an opportunity to open doors to financing new business owners to start up new businesses and support them by becoming partners.

Fahd Ali Akmal, Senior Conference Producer at Fleming Gulf Conferences said, "The Middle East SME Forum helps the SME sector by showcasing the initiatives governments and financial agencies are taking to enhance economic growth through the SME sector. It gives room for entrepreneurs to start up businesses as it becomes a gateway for new job opportunities and business growth. Innovations, best practices, successful stories, venture capital, government backed credit guarantee loans, peer-to-peer entrepreneurship learning and much more were key highlights at the conference."

al khaliji’s support for the Middle East SME Forum within the bank’s general corporate citizenship strategy that aims to support education, enhance business knowledge, and build awareness in the local business community. To learn more, please visit www.alkhaliji.com.

about al khaliji

al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to retail, business, corporate and institutional customers.

Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services. 

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange Index, with QR 23.44 billion in total assets and QR 9.96 billion in customer deposits as of 30 June 2011.
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
While financial objectives are key to sustaining our prosperity in any market, at al khaliji we believe that long-term sustainability is maintained by balancing our commitments to achieving our results, with the commitment towards the development of people and the preservation of natural resources. 
Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.

About Fleming Gulf Conferences

With a rich history of producing high quality, industry specific business events around the world, Fleming Gulf Conferences is one of the leading names in the business intelligence industry.
Our dynamic team of conference professionals have been responsible for bringing together the decision makers, movers and shakers and the leading solution providers from around the world where they have debated, discussed and delivered key strategies that have shaped business today.
Our B2B conferences are highly interactive with participants coming from specialized industry sectors including Finance, Oil & Gas, HSE & Security, Transport & Logistics, Utilities, Mining, Real Estate, Construction, Life Sciences, Telecom & IT, HR and Marketing.
#]

publié le 12 August 2012

al khaliji offers a ‘Golden Reward ’

[# al khaliji offers its first of kind ” Golden Reward ” where customers will receive a bar of gold on every mortgage loan for a period of three years. This Reward is offered to new customers only and is valid for a limited period .#]

[#
New customers get gold for three years on mortgage loans

“As the real estate sector grows and more residential units become available, al khaliji offers this golden opportunity for residents of Qatar to own their dream home” said Arafat Qayyum, al khaliji’s Head of Premium Banking and Product Management. “Not only will the residents of Qatar own their dream home, they will also have the opportunity to earn 50grams of gold bars for 3 consecutive years.”

The promotion is valid until August 31st 2012, and customers are eligible when they apply for a new loan or transfer their existing loan from other banks to al khaliji.

For more details, please call our Contact Centre on 4494 00 00.

about us

al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to premium, business, corporate and international customers in Qatar, UAE and France.

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange Index since 2007, with QR 27.8 billion in total assets and QR 12.7 billion in customer deposits as of 30th June 2012.

Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services. 
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
While financial objectives are key to sustaining our prosperity in any market, at al khaliji we believe that long-term sustainability is maintained by balancing our commitments to achieving our results, with the commitment towards the development of people and the preservation of natural resources. 
Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.
#]

publié le 28 February 2014

al khaliji partners with IP Global to offer Premium customers leading investment opportunities

press release

Al Khalij Commercial Bank (al khaliji) Q.S.C. announces its business partnership with IP Global, a leading property investment company. This tie-up took effect from September 2013 and since then al khaliji customers have been enjoying access to a range of unique investment opportunities in a variety of international markets.

Being one of Qatar’s leading financial institutions, al khaliji has access to the Qatar market, with additional branches in the UAE and France. The driver behind the partnership is allowing al khaliji customers the opportunity to benefit from investments and build strong relationships in a new market, with a main focus on high-end property in London, to which al khaliji customers will have access.

IP Global offers a full-service approach to real estate investment that is built on extensive market research and analysis combined with a significant financial commitment to every opportunity they offer. This unique business model will complement al khaliji’s existing investment offering and open up this high-potential investment sector for its clients, hence the tie-up and the start of this relationship.

al khaliji Group Chief Executive Officer, Robin McCall said, “Part of al khaliji’s strategy is to be a unique bank with a strong service proposition and a smart way of competing in relevant banking markets. We are delighted to partner with a prominent property investment company to provide a very distinctive offering to meet the needs of our select customers.”

The CEO and founder of IP Global Tim Murphy commented: “IP Global are very happy to have been appointed as the preferred property investment partner, offering al khaliji banking customers the opportunity to build strong and sustainable property portfolios across the world’s best investment markets. We have seen increasing interest into London from the GCC region over the last few years and we look forward to offering al khaliji customers access to some of the best investment propositions in the market, walking them through every step of the process of buying and managing international real estate.”
al khaliji aims to stay ahead of the competition by offering IP Global’s services to its premium and private banking customers. This is an opportunity for the bank to attract investors who see the value in diversifying their portfolio in strong performing assets.
Tim Murphy concludes; “Both of our businesses operate with our clients’ best interests at heart and we are confident of the value our advice will yield and the mutual on-going benefits to both parties.”

For more information about al khaliji offerings please visit www.alkhaliji.com. For more information on this partnership or for any general property-related enquiries, please send an email to info@ipglobal-ltd.com.

about al khaliji

al khaliji is Qatar’s pioneer “next generation bank”, offering a full range of conventional banking products and services to premium, business, corporate and international customers in Qatar, UAE and France.

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange since 2007, with QR 41.3 billion in total assets and QR 19.9 billion in customer deposits as of December 31, 2013.

Al Khaliji France is al khaliji’s subsidiary in Paris, France, with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services.

al khaliji products and level of service reflect the Bank’s belief that to be a successful financial institution, the Bank must meet the needs of both this generation and future generations of employees, customers, investors and business partners.

al khaliji was awarded with a positive Fitch Rating. With a Long Term Issuer Default Rating of ‘A-’ and a Short Term Issuer Default Rating of ‘F2’, this facilitates streamlined access to resources all over the globe.

Achieving financial objectives is critical to sustaining prosperity in any market, at al khaliji long-term sustainability is maintained by balancing the commitment to achieving results with the commitment towards the development of people and the community.

Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.

publié le 17 April 2011

al khaliji pursues its growth and announces a 105 percent increase in its 1st quarter 2011 net Profit

Press release

[#Al Khalij Commercial Bank (al khaliji) Q.S.C. released its Q1 2011 results today, showing a strong increase in net profit, which reached QR 119 million, up 105 percent from QR 58 million on 31 March 2010.#]

  • Significant uplift in net profit – reaching QR 119 million on 31 March 2011
  • Robust earnings per share of QR 0.33 – 2 times Q1 2010’s earnings
  • 40 percent increase in the net operating income
  • Customer deposits increase by 16 percent compared to 31 December 2010 and by 24 percent compared to 31 March 2010

[#Net interest income reached QR 148 million, 89 percent higher than in Q1 2010 when it reached QR 78 million, as interest expenses decreased by 40 percent and interest revenues increased by 21 percent. The net interest margin increased to 3.42 percent as of 31 March 2011, compared to 2.60 percent in the corresponding period in 2010.

The net operating income reached QR 231 million, up 40 percent compared to the corresponding period in 2010, when it reached QR 165 million. The dividend income, up 321 percent year-on-year, and the profit from available-for-sale investments, up 71 percent year-on-year, respectively contributed to QR 5 million and QR 49 million of the net operating income.

The downward trend in the cost to income ratio continued, and attained 48 percent, from 55 percent in Q1 2010.

Conventional banking activities contributed to 85 percent of the net operating income. Al Khaliji France S.A., a wholly owned subsidiary of al khaliji Group, contributed to 14 percent.

Commenting on the financial statements, Robin McCall, acting Chief Executive Officer, said:

“al khaliji’s pursues its growth story. In Q1 2011, we achieved growth across conventional and international segments”.

Commenting on the Islamic banking portfolio following Qatar Central Bank’s intention to close down the Islamic windows of Conventional banks by the year end, McCall said:

“In accordance with this directive, al khaliji ceased to extend Islamic facilities to, or take Islamic deposits from new customers. The Management is considering available options for its existing Islamic operations”.

The Bank’s impairment losses on loans, net of recoveries reached QR 11 million, 21 percent down compared to their level registered in Q1 2010.

al khaliji’s net profit in Q1 2011 is the second highest quarterly result registered since the establishment of the Bank during the first quarter of 2007. Q1 2011 net profit confirm profitability’s rising trend and is line with the Bank’s mid-term strategy developed at the beginning of 2010.

Earnings per share (EPS) increased to QR 0.33, twice Q1 2010’s EPS. Return on average shareholder equity is 9.76 percent, and return on average assets is 2.45 percent (compared respectively to 5.0 percent and 1.4 percent at 31 March 2011).

Total shareholder equity, including paid-up share capital, reserves and retained profits, reached QR 5.13 billion.

Loans and advances increased by 11 percent since the beginning of the year, and reached QR 8.05 billion on 31 March. During the same period, financial investments, most of which are available-for-sale, increased by 23 percent and reached QR 8.68 billion.

Customer deposits reached QR 9.28 billion in Q1 2011, an increase of 24 percent when compared to 31 March 2010 and 16 percent compared to 31 December 2010.

The coverage ratio, including the Bank’s risk reserve, reached 205 percent of total loans and advances.

His Excellency Sheikh Hamad Bin Faisal Bin Thani Al Thani, al khaliji’s Chairman and Managing Director, said:

“The Bank continues to achieve marked growth rates as we pursue the implementation of our distinctive business strategy. Our profits of QR 119 million are more than 2 times Q1 2010 results and undoubtedly illustrate our success in Qatar, the UAE and France. Our Board and Management are committed to sustain the growth in profitability and to deliver on shareholders’ expectations”.

The consolidated financial statements for the 3 month period ended 31 March 2011 were approved by the Board of Directors of al khaliji during its meeting held on 17 April 2011 in Doha, Qatar.#]


www.alkhaliji.com

publié le 3 December 2011

al khaliji sponsored and Chaired M&A and Corporate Finance Advisory MENA Conference

[# Al Khalij Commercial Bank (al khaliji) QSC, as part of its ongoing initiatives to share relevant knowledge relating to global trends in M&A/ Investment banking arena, supported the two-day ‘Merger and Acquisitions, Corporate Finance and Advisory Mena Conference’ as Platinum Sponsors. The event was held at Doha’s Al Sharq Hotel and Spa on the 29th and the 30th of November 2011. In addition to sponsoring the conference, al khaliji also chaired the events on the first day.#]

[#Mr. Robin McCall, in his capacity as Group Chief Executive Officer of al khaliji, opened the conference as key note speaker and Chairman on the 29th, where he shared with the audience, the uncertainties surrounding Euro Zone Crisis and the hard realities of its impact on changing M&A space.

“The 2007 and 2008 global financial crisis have brought a shift in corporate behavior towards capital markets as well as other funding products. Regardless of this gradual shift away from lending, banks will continue to be a critical component of the funding mix of products that other funders cannot provide (such as working capital, treasury and cash management products). Banks will play a central role in funding and facilitating the inevitable M&A pick up that must surely follow this cycle.”-said Robin McCall, Group Chief Executive Officer as part of his speech.

While covering his views on the MENA region in particular, he added

“ While MENA region has a very small share of Global M&A deals, the GCC region will continue to be an attractive region for International Investors, driven particularly by the strong growth expectations in energy spending , infrastructure projects leading to FIFA 2022 and the view that political stability can be maintained.”

In addition to Mr. McCall, Mr. Satish Kumaraswami, Group Head of Business Banking moderated the session on comparing, contrasting and evaluating the key advantages to growing businesses through acquisitions vs. organic growth, while Mr. Mian Ehsanullah, Head of Public Sector and Liability Management – Corporate Banking Division, moderated a session on what are the financing options available to acquisitive MENA companies.

This is the second year al khaliji supports the M&A, Corporate Finance and Advisory MENA Conference, which is attended by the region’s leading CEOs, CFOs, Treasurers, Finance Directors, Institutional Investors, Fund Managers, Private Equity Houses, Sovereign Wealth Funds, Investment and M&A Market Bankers. This event constitutes an excellent platform to debate key issues and topics that are important to achieving Qatar’s long-term vision and future economic and financial developments. To learn more, please visit www.alkhaliji.com.
#]

JPEG - 3.9 kb

about us

[#al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to retail, business, corporate and institutional customers.

Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services. 

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange Index, with QR 23.85 billion in total assets and QR 11.58 billion in customer deposits as of 30 September 2011.
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
While financial objectives are key to sustaining our prosperity in any market, at al khaliji we believe that long-term sustainability is maintained by balancing our commitments to achieving our results, with the commitment towards the development of people and the preservation of natural resources. 
Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.#]

publié le 8 January 2012

al khaliji throws exclusive support behind international squash tournament

press release

[# Al Khalij Commercial Bank (al khaliji) QSC, in its on-going commitment to the Qatari community as a whole, announced today that it will exclusively sponsor the international Professional Squash Association (PSA) tournament, in association with the Qatar Squash Federation (QSF). The ‘al khaliji PSA Squash Challenger 2012’ will be held from January 12th to the 14th at Khalifa International Tennis and Squash Complex with 44 players from nine countries, including Qatar, competing for the cup.#]

[#“al khaliji is delighted to be supporting this year’s squash Challenger,” said Ms. Abeer Al Kalla, Head of Public Relations and Communications at al khaliji. “In the past few years, Qatar has branded itself as the regional capital of sport, and we are proud to be associating our name with this international tournament. We look forward to the competition itself, and wish all the players the best of luck.

al khaliji’s sponsoring of the tournament is part of the bank’s on-going corporate social responsibility programs. With squash, and sports in general, reflecting personal values that benefit societies, supporting the tournament was a natural choice for al khaliji.

“At al khaliji, we strongly support the nation’s 2030 Vision and the goals and milestones it strives for,” added Ms. Al Kalla. “Athletics are a medium for positive change. Squash players demonstrate ideal values such as passion, excellence and respect. These are the very same values that are required from all of us to meet the challenge of achieving Qatar’s goals in 2030. It is only fitting that al khalji sponsors the PSA tournament under our CSR program.”

about us

al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to retail, business, corporate and institutional customers.

Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services. 

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange Index, with QR 23.85 billion in total assets and QR 11.58 billion in customer deposits as of 30 September 2011.
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
While financial objectives are key to sustaining our prosperity in any market, at al khaliji we believe that long-term sustainability is maintained by balancing our commitments to achieving our results, with the commitment towards the development of people and the preservation of natural resources. 
Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.
#]

publié le 29 March 2013

al khaliji to finance upcoming Alfardan Properties’ Development, the Kempinski resort

press release

[#Al Khalij Commercial Bank (al khaliji) Q.S.C. has inked a deal to finance the Alfardan Properties’ up and coming Kempinski Marsa Malaz Hotel Resort, with a total investment cost of almost QR 1 Billion. Alfardan Properties, one of the companies under Alfardan Group umbrella, is renowned for luxury turnkey residential and commercial developments in addition to 5-star hospitality projects such as Kempinski Residences and Suites. #]

[#

Commenting on the deal, Robin McCall, al khaliji’s Group Chief Executive Officer said:
“As the country looks to the future, and continues with its economic growth, companies such as Al Fardan Group Holding will be at the forefront of Qatar’s development. We are therefore privileged to be associated with one of the most ambitious hospitality projects in Qatar – the Kempinski Marza Malaz Hotel Resort. ” McCall further added, “In al khaliji, we have set about growing a next generation bank as we aspire to become one of the most highly rated and well-respected banks in Qatar. This milestone agreement is a confirmation that al khaliji is a reliable business partner and a strong source of financing for development projects in all sectors in the country.”

Omar Hussain Alfardan, President and CEO of Alfardan Properties and Alfardan Group, commented:
“The Kempinski Marsa Malaz Hotel Resort clearly reflects our vision to provide iconic luxury developments focused on superlative hospitality service to Qatar and the region. This uniquely themed hotel resort which we foresee to become a popular destination for international guests visiting Qatar, will truly display the luxury, authenticity and excellence Alfardan Properties is known for. Our partnership with al khaliji is a key strategic move thus, supporting our commitment to join hands with establishments that share our aspiration in developing the country with mega hospitality and tourism developments in line with vision of H.H. the Emir Sheikh Hamad Bin Khalifa Al Thani and Heir Apparent H.H. Sheikh Tamim Bin Hamad Al Thani. We are therefore proud to join hands with al khaliji, who share our vision of provision as we continue to consolidate our market presence and develop projects that reflect Qatar’s growing status as a distinctively unique haven for luxury hospitality.”

K.C. Dalal, Deputy CEO of Alfardan Group, said: “Alfardan Properties’ strong alliances and solid track record within the banking community have been important factors that have given us greater flexibility to develop some of the most innovative and luxurious hospitality projects in Qatar. Moreover, we are strongly committed to partner with institutions that add value to our projects and to the Alfardan Properties portfolio. The invaluable support of al khaliji Bank therefore plays an instrumental role for the success of such developments done by Alfardan Properties; especially that the company has plans on expanding with newer and bigger luxurious developments in Qatar and neighboring countries in the region.

Awarded an ‘A-‘ credit rating by international rating firm Fitch in 2011 and reaffirmed in 2012, al khaliji has the capabilities and expertise to provide the right financing solutions. As a pioneering Qatari financial institution, al khaliji understands the requirements of its preferred clients and provides them with the financial assistance through a group of banking professionals who are able to support and service their clients’ needs through their personalized service, partnership approach, swift approvals, and simple procedures.

al khaliji recognizes that every company is unique and its customized banking solutions help its clients to make the best of every opportunity for their businesses.

For more information about al khaliji, please visit www.alkhaliji.com.

- ends-

about al khaliji

al khaliji is Qatar’s pioneer “next generation bank”, offering a full range of conventional banking products and services to premium, business, corporate and international customers in Qatar, UAE and France.

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange since 2007, with QR 33.7 billion in total assets and QR 17.3 billion in customer deposits as of December 31, 2012.

Al Khaliji France is al khaliji’s subsidiary in Paris, France, with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services.

al khaliji products and level of service reflect the Bank’s belief that to be a successful financial institution, the Bank must meet the needs of both this generation and future generations of employees, customers, investors and business partners.

al khaliji was awarded with a positive Fitch Rating. With a Long Term Issuer Default Rating of ‘A-’ and a Short Term Issuer Default Rating of ‘F2’, this facilitates streamlined access to resources all over the globe.

Achieving financial objectives is critical to sustaining prosperity in any market, at al khaliji long-term sustainability is maintained by balancing the commitment to achieving results with the commitment towards the development of people and the community.

Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.
#]

publié le 29 April 2016

Al Rayan Investment Acts as Sole Listing Advisor for Qatar First Bank

press release

Al Rayan Investment LLC, a Doha based Shari’ah compliant investment firm, and a wholly-owned subsidiary of Masraf Al Rayan, has successfully advised Qatar First Bank (QFB) on its debut listing on the Qatar Stock Exchange (QSE).

Al Rayan Investment acted as the “Sole Listing Advisor” for QFB, a leading Shari’ah compliant bank based in Qatar, which offers investment opportunities and innovative financial solutions with local, regional and international reach. The listing on the domestic bourse is a landmark transaction, which marks several significant milestones including: (i) the first new listing on the QSE in 2016; (ii) the first Qatar Financial Center licensed entity to be listed on the QSE; (iii) the first private sector entity to be listed on the QSE in six years; (iv) and the first bank to be listed on the QSE in nine years.

Commenting on the listing, Mr. Haithem Katerji, Chief Investment Officer of Al Rayan Investment, said:
“This transaction demonstrates not only Al Rayan Investment’s leading position in the Qatari market, but also our strong execution capabilities, tenacity and professionalism for successfully completing strategically important transactions for our clients. We remain committed to fulfilling our clients’ investment banking needs as their “trusted advisor”, by adopting a partnering approach and leveraging our knowledge of the local regulatory requirements”.

Mr. Ziad Makkawi, QFB’s Chief Executive Officer, said:
“Our listing on the QSE was always a top priority, and we are proud to deliver on this promise to our shareholders who have supported us all these years and to the Qatar market in general. The listing represents another significant milestone in the Bank’s quest to grow, expand its offerings and provide a ‘Signature of Excellence’ to its clients”.
Mr. Makkawi added:
“Al Rayan Investment worked closely with us to understand our strategic requirements and goals as well as our shareholders objectives and managed the transaction through an intense process to ensure seamless execution within a short period of time.”

QFB will be listed under the Banking and Financial Services Sector on the QSE with a share trading symbol “QFBQ” as announced by the QSE. The guiding trading price for the first day of trading will be QAR 15.0 per share with a price fluctuation limit of 30% up or down, which will be permitted only for the first day of listing; however, on the second day and thereafter a price fluctuation limit of 10% up or down will apply as is the case for all other listed companies.

Mr. Katerji added:
“We believe QFB’s listing will pave the way for other listings on the QSE, including Al Rayan Qatar Exchange Traded Fund (Al Rayan ETF), the first exchange Traded fund in Qatar, which is expected to be launched in the coming months. Al Rayan ETF is expected to further contribute to the development of the local capital market by improving market depth and liquidity”. Mr. Katerji also commended the dedication and support provided by various regulatory authorities for facilitating the listing process.

About Al Rayan Investment
Al Rayan Investment is authorised by the Qatar Financial Centre Regulatory Authority (QFCRA) and has a leading track record in financial advisory and asset management. Within financial advisory, Al Rayan Investment provides a broad range of capital markets, M&A and corporate finance advisory services. While, Al Rayan Investment’s asset management division manages over QAR 3 billion of client assets which are invested in GCC listed equities, sukuk and money market instruments. Al Rayan Investment recently won the coveted ‘Qatar Asset Manager of the Year’ MENA Fund Manager Performance award in 2016 for the third consecutive year, underscoring its leadership in asset management and its rigorous investment discipline. The Asset Management division has been mandated by Masraf Al Rayan to be the fund manager of the upcoming Al Rayan ETF.

About Qatar First Bank LLC
Qatar First Bank (QFB) is one of the first independent Shari’ah compliant financial institutions regulated by the Qatar Financial Centre Regulatory Authority. Launched in 2009 as an investment bank, QFB has since evolved to broaden its offering to combine the best of a private bank with bespoke investment solutions tailored for the protection, preservation and growth of wealth. QFB has a diversified shareholder base of prominent individuals and institutions from Qatar and the GCC. QFB’s team of professionals have the knowledge and expertise to provide world class, exclusive and cutting edge financial solutions underpinned by the Bank’s commitment to deliver excellence in all aspects of business. www.qfb.com.qa

publié le 18 May 2010

Algeria: Alstom launches the first Citadis tramway tests in Algiers

[#Alstom launched the first Citadis tramway tests in Algiers—in the presence of Amar Tou, the Algerian Minister of Transport. The test track in Bordj El Kiffan (in the suburbs of the Algerian capital) is nearly 2 kilometres long#].
[#
The goal of the on-track trials is to test the interface between the rolling stock, the catenary system and the track. Traction, braking and speed performance will also be verified. Testing will be conducted along the entire line as construction is completed and will involve each of the Citadis trainsets ordered by the Entreprise du Métro d’Alger (EMA).

The tramway in Algiers, the first city in Algeria to install a modern tram system, is a turnkey project awarded by EMA to “Méditerrail”*, a consortium headed up by Alstom in 2006. The contract includes the production of 41 Citadis tramways and the construction of a 23-kilometre line with 38 stations. The Algiers tramway will serve the area to the east of Algiers, from the Carrefour des Fusillés (Hussein Dey) to the centre of Dergana, in the eastern suburbs. EMA awarded Alstom two other major contracts in 2008 for turnkey tram systems for the cities of Oran and Constantine. The three contracts were placed with Alstom under the development programme launched by the Algerian government in response to growing demand for public transport.

Its innovative, eco-friendly rail transport solutions have made Alstom Transport the leader in the North African market. To date, a total of 1,382 Citadis tramways have been ordered by 34 cities around the world, while a further 60 cities have new tramway projects in the pipeline.#]

*Méditerrail: Alstom, ETRHB, Todini

About Alstom Transport

[#Alstom Transport develops and offers the most complete range of systems, equipment and services on the rail market, with sustainable transport always in mind. Alstom Transport can manage an entire transport system, from rolling stock to signalling and infrastructure, and offers turnkey solutions. In 2009-2010, Alstom Transport recorded sales of €5.8 billion. Alstom Transport is present in over 60 countries and has 27,000 employees.#]

publié le 7 April 2013

Alstom will supply equipment for HFO-fired steam power plant, in Saudi Arabia

press release

[#Alstom has been awarded a contract to supply equipment for the Yanbu 3 power and desalination plant located on the Red Sea coast in the western part of Saudi Arabia. This will be one of the country’s first supercritical power plants to run on heavy fuel oil. This investment is part of Saudi Arabia’s objective to expand its power generation base while minimising impact on the environment. The contract is worth around €750 million(1).#]

[#Alstom’s part in the contract includes the basic engineering of the power block, advisory services during detailed engineering and procurement, supervision services during construction and commissioning and delivery of main equipment for 5 x 620 MW units including the steam turbines and generators, the HFO-fired(2) supercritical boilers, electrostatic precipitators and the flue gas desulphurization system. The plant is due to enter commercial operation in 2016.

Alstom will supply the equipment to Al-Toukhi Company for Industry, Trading & Contracting, which is leading the consortium in charge of the engineering, procurement and construction (EPC) of the plant for the Saline Water Conversion Corporation (SWCC), one of the leading power and water utilities in the region.

The project is of great significance for SWCC and for Saudi Arabia in general. The plant will produce 3100 MW power to meet the increasing electricity demands as it will supply sweet water and feed the grid in the western part of the country where the cities of Jeddah, Yanbu and the holy cities Mecca and Madinah are located. The balance power and extracted steam will be fed into the associated new Yanbu 550’000 m3/d desalination plant which will be a key supplier of water to the city of Madinah.

“The Yanbu 3 project will add 2700 MW of cleaner high-efficiency power to the Saudi grid and steam to a new desalination plant thanks to our market-leading supercritical technology combined with Alstom’s ability to integrate equipment into complete and complex power projects,” said Andreas Lusch, Senior Vice President for Alstom’s steam business.

Alstom has equipped over 20% of Saudi Arabia’s installed power generation base. Its steam turbine technology also features in Shoaiba – the region’s biggest power plant and aptly called the ‘Giant of the Middle East’. Its environmental control systems in operation at projects like Rabigh IPP, Shoaiba 3 and Yanbu 2 are enabling the country to reduce power plant emissions.

Alstom is the world leader in supercritical and ultrasupercritical steam power plant technology and has already supplied or has under construction over 36 GW capacity globally including projects in South Africa, Germany, Poland, Malaysia and China.

(1) This contract has been booked in fiscal year 2012/13.#]

publié le 10 May 2011

Alstom’s Citadis tramway begins commercial service in Algiers

[#On 8 May 2011, Algeria’s Transport Minister Amar Tou, and the President of the Algiers Metro Authority
(EMA), Aomar Hadbi, ushered in the start of commercial tramway service in Algiers, the first Algerian city to
possess a modern tram network. Also on hand for the event were Samir Karoum, President of Alstom Algeria,
and Jean-Pierre Gollot, Alstom Transport Deputy General Manager in Algeria, along with Ali Hadad, Président
Directeur Général representing ETRHB on behalf of the Mediterrail consortium1 charged with constructing
and equipping the first tramway line.
#]

[#Exploited by the Urban and Suburban Bus Transportation for Algiers (ETUSA), Alstom’s Citadis tramway runs
on the line’s initial segment, which Mediterrail delivered to the EMA in December 2010. This stretch of the
line, 7.2 km in length, links Bab Ezzouar to Bordj El Kiffan districts in the eastern suburbs of Algiers and
serves 13 stations, from “Bananiers – H Moukhtar Zerhouni - Lycée” to “Bordj El kiffan - Colline Mohous”.
With the completion of two additional sections currently under construction (Hussein Dey– Bab Ezzouar and
Bordj El Kiffan–Dergana), the line will extend 23 kilometres and includes 38 stations along with eight transfer
hubs.

Alstom, the project leader for the Mediterrail consortium, is providing a comprehensive service that includes a
portion of the civil engineering, all the infrastructure (platform, rails, electrification, signalling, ticketing), the
workshop-depot at Bordj El Kiffan and the central command post. Alstom is also supplying the fleet of 41
Citadis trainsets, already delivered in full. In addition, Alstom will be responsible for maintaining the tramway
system equipment and the Citadis tramsets for 10 years.
The Algiers tramway trainsets, were specially designed to meet the EMA’s operating needs and feature both
the proven equipment standard on all Citadis trams, representing years of accumulated Citadis expertise, and
a number of customized elements, including the design of the driver’s cabin, the livery, and the interior
fittings.
Algeria’s first tramway is notable for its accessibility, large capacity, and comfort. The integral low floor and
eight lateral doors ensure easy, level access from the platforms, especially for those with reduced mobility.
Each tramset is 40 metres in length and can accommodate from 300 to 400 passengers during peak travel
times. The air conditioning and large tinted glass windows, plus the seating and wide aisles, passenger
information displays in French and Arabic, and quiet engine operation are all designed to ensure pleasant
travel conditions.

This transport infrastructure project is part of the development programme initiated by the Algerian
government in response to a growing demand for public transport. As a structural feature of the capital’s
policy of expanding eastwards, this project is symbolic for the country, and the reintroduction of trams 50
years after they were phased out will contribute significantly to the development and modernization of
Alstom Transport – 48 avenue Albert Dhalenne – 93482 Saint Ouen Cedex
Algeria’s main conurbations. Thanks to its expertise and know-how, Alstom has also been selected by EMA to
construct tramways in Oran and Constantine.
To date, more than 1,500 Citadis trams have been ordered by 36 cities worldwide, and some 60 additional
cities plan to launch tramway projects in the next few years, including more than a dozen cities in Algeria2.
Tramways are undeniably successful: they help to develop sustainable mobility, provide a means of
restructuring and modernizing the urban area and enhance the architectural heritage of cities, whilst boosting
urban and suburban services.

About Alstom

Alstom Algeria is helping to develop Algerian infrastructures through its three divisions (Transport, Power and
Grid) within the framework of a long-term partnership based on technology and sustainable development.
The Transport division has continually increased its number of permanent employees in the country (to over
600 today) and has established cooperative relationships with its Algerian partners. Like the contract for the
electrification of the Algiers suburban lines for ANESFIF-SNTF3 in 2009, those currently in progress for the
tramways in Algiers, Oran and Constantine on behalf of EMA illustrate Alstom’s commitment to delivering
innovative, eco-friendly solutions to improve mobility within Algeria. Through its contracts and local
investment strategy, Alstom is helping to develop Algeria’s infrastructure and railway equipment thanks to
long-standing relationships that boost bilateral cooperation in transport whilst supporting growth and
employment in the manufacturing sector. To that end, Alstom, EMA and Ferrovial joined forces in November
2010 to create CITAL, a joint venture for tramset assembly and maintenance. Registered with the National
Trade Registry Centre in March 2011, CITAL is set to construct a facility in Annaba, with assembly operations
expected to begin in 2013.
Alstom Transport develops and offers the most complete range of systems, equipment and services in the rail
market with sustainable transport always in mind. Alstom Transport is capable of managing complete
transport systems, from rolling stock to signalling, maintenance and infrastructure, as well as offering turnkey
solutions. During the 2010-2011 fiscal year, Alstom Transport reported sales of 5.6 billion euros. Alstom
Transport is present in over 60 countries and has 26,000 employees.#]
1 The Mediterrail consortium consists of Alstom Algérie Spa, Alstom Transport SA, ETRHB and Todini.
2 Source: EMA
3
ANESRIF: ANESRIF (Agence Nationale d’Etudes et de Suivi de la Réalisation des Investissements Ferroviaires) / SNTF: Société Nationale du Transport Ferroviaire.

publié le 29 January 2014

American Express World Luxury Expo Returns to Riyadh

press release

World Luxury Expo is returning to the luxurious Ritz-Carlton Hotel, Riyadh from 28-30 January 2014. The highly anticipated three day event is titled sponsored by American Express and held in association with The Saudi Investment Bank.

HRH Princess Nouf Bint Faisal Bin Turki Al Saud, as Chairperson of Nayyara Exhibitions, will again host the American Express World Luxury Expo in association with The Saudi Investment Bank. The exhibition will showcase selected luxury brands and services, from a broad selection of luxury categories, appealing to a highly discerning and select group of VIP guests.

Nizar Abou Hassan, Director Premium Products Management, American Express Saudi Arabia Limited, said “Our promise to deliver service excellence and world class experiences are showcased in our renewed commitment to supporting the World Luxury Expo in 2014. The dedicated Cardmember’s access lane along with the American Express Salon Prive’ offering new and exclusive experiences to our Cardmembers and guests. We look forward to welcoming our local and international luxury brand partners who will be exhibiting a selection of their most prestigious and exclusive products in one spectacular venue.”

Comments Jihad Slim, Chief Executive Officer at Nayyara Exhibitions, “Nayyara is proud to partner with World Luxury Group to bring The American Express World Luxury Expo to Riyadh for the second year. This is an event which will continue to grow every year for many years to come, with plans for Riyadh to become one of the world’s most important luxury exhibition centres.”

Adel Al Mahboob, General Manager at The Ritz-Carlton, Riyadh, says “We look forward to again hosting the event, which we believe is becoming an annual signature event for Riyadh. The Ritz-Carlton, Riyadh enjoys a pre-eminent address in the capital; originally envisioned as a royal guest palace for visiting dignitaries and heads of state. The hotels’ stately architecture mirrors the extraordinary lifestyle that this event represents.”

World Luxury Expo features carefully selected exhibitors from luxury categories including fine art, high-end jewellery, fashion, hand-crafted time pieces, designer furniture and exquisite table settings, fine dining, luxury executive cars and sports cars, private aviation and luxury travel. All participating exhibitors are recognised within their respective fields, showcasing superior quality and craftsmanship.

Comments Samer R. Al-Rayan, Group Head of Sales, Marketing and Public Relations, at The Saudi Investment Bank, “The Saudi Investment Bank is again proud to be associated with AMEX World Luxury Expo. Our sponsorship yet again demonstrates our commitment to delivering world class banking services and products designed to cater to the affluent lifestyle of the our valued platinum and premium clientele and invited guests who attend the event.”

Toni E. Yazbeck, Marketing Director at Mohamed Yousuf Naghi Motors (MYNM), the exclusive and official importer of BMW, MINI & Rolls-Royce Motor Cars in Saudi Arabia, comments “We are pleased to be a part of World Luxury Expo, an event which enhances our association with luxury and reinforces our status as the world’s leading choice for MYNM BMW Group at a palatial and iconic venue in Saudi Arabia. It is befitting that MYNM BMW Group, which represents the luxury automotive, is taking part.”

Comments Adele Liu of Adele Consulting, the exclusive Representative of Citrus Art and Adele Luxury Art Craft, “We will be presenting ancient relics and artifacts at World Luxury Expo, sourced from the Far East, created using the Cloisonné technique. Cloisonné is an ancient technique for decorating metalwork objects, used in recent centuries using vitreous enamel, and in older periods with inlays of cut gemstones, glass, and other materials. The resulting objects are considered highly desirable and sought after. Adele will also present a customized selection for Middle East clients of delicate Chinese silk, fine teas and a tailor-made collection of collectors’ pieces that are inspired by the ancient silk-road, carrying stunning treasures from the Far East, seen yet again passing through the Middle Eastern world.”

A selection of other luxury goods and services which invited guests can look forward to viewing at World Luxury Expo include Ajmal Perfumes, Nayyara Weddings, Hamilton Grand luxury golf residences at the internationally famous St. Andrews golf course, Evian will be showcasing the limited edition designer bottle collection by Elie Saab, Golden Caviar, antiques and collectors pieces by Asag Art, UBS, luxury accessories by BB Luxury, Porto Design, Kingdom Key Real Estate, organic premium skincare range by Alternatifs, a collection of supercars, and much more…

Those looking to attend AMEX World Luxury Expo in association with SAIB can request an invitation and pre-register online at http://world-luxury-group.com/preregister/riy2014

Following the exposé in Riyadh, World Luxury Expo will continue to Jeddah in March and then Bahrain, Kuwait, Abu Dhabi and Doha in 2014, creating an on-going annual signature series of events in the GCC region.

www.worldluxuryexpo-riyadh.com

publié le 7 December 2011

Another Success For Qatar:al khaliji’s Investor Relations’ Website Ranks Number 1 Across The Middle-East

[# As investors await the decision of Morgan Stanley Capital International (MSCI) on whether it upgrades Qatar from “Frontier” to “Emerging” market status, the announcement of the KWD Middle-East Webranking Survey’s results sent a strong signal on the commitment to transparency and best disclosure practice of Qatar and MENA’s listed companies.#]

[#

  • Global Financial Communications and Investor Relations firm KWD ranks al khaliji as top Investor Relations’ website for all publicly listed companies in the entire Middle-East
  • The ranking acknowledges al khaliji’s Board and Management commitment to transparency and best stock market practice
JPEG - 19.9 kb

This commitment is especially marked by al khaliji, which took the top ranks in transparency and best online Investor Relations (IR) practice across the entire Middle East region.

After having ranked number 2 in the MENA region in 2010, al khaliji’s website emerged this year as the overall winner among the region’s 138 largest listed companies from Bahrain, Egypt, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, and the UAE. Also, for the third year in the row, al khalij’s website was ranked as number 1 among all Qatari listed companies.

The Bank was presented with the award on December 5, 2011 during a seminar entitled “Success in digital Investor Relations” organized by KWD and M:Communications in Dubai.

“We are delighted to come out on top of KWD’s annual survey” commented Mr. Robin McCall, Group Chief Executive Officer of al khaliji.

“Middle-Eastern publicly listed companies are reputed to have a low level of transparency and to show less information compared to companies in other parts of the world. However, at al khaliji, we have focused on being as transparent and informative as possible with our website. Our shareholders, investors, analysts, and customers confirm that our website is their first destination when seeking information about the Bank, and we are proud to be recognized for this achievement”.

In its annual review, KWD Webranking’ survey looks at websites on 140 criteria that are assessed by regional and international analysts and investors to identify the websites that share the most investor information. In addition, the survey covers information available for investors, analysts, fund and asset managers for the 900 largest companies by market cap in more than 40 countries.

All 900 companies’ websites are ranked at least twice by two different consultants.

Charbel Cordahi, Head of Investor Relations, and Pauline Bejjani, Investor Relations Officer represented al khaliji at the awards ceremony.

“Having a strong IR website is very important for publicly listed companies: investors always place a premium on IR communication, the most cost-effective way to provide a large audience with all information they need. A best practice IR website helps as well to comply with regulations: it shows adherence to the principle of equal access and is an excellent compilation for investor related information” said Christiaan de Beer, al khaliji’s Group Chief Financial Officer.

al khaliji’s online IR strategy serves both professionals and retail shareholders, covers financial and non-financial information, and provides the information in a timely manner with updates about the strategy, overview of past events, and summarized essential share and dividend information.

De Beer commented on the online strategy’s impact:
“Achieving a fair market valuation – reflected in the share price – is one of IR’s main goals . At al khaliji, we know that a good IR website helps managing expectations in relation to current and future performance and assists IR achieve its objectives of heightened company profile, easier access to capital, more liquidity in shares, and a fair share price”.

McCall concluded by congratulating the Investor Relations team for their achievement and dedication and said:
“We are delighted to see that our efforts to implement a higher degree of transparency via our website have been recognized for the third year in a row by KWD. We are proud to see al khaliji taking the lead among the region’s largest listed companies and wish this will positively impact MSCI’s awaited decision for the upgrade of Qatar from Frontier to Emerging market status”.

al khaliji’s award-winning website can be found at www.alkhaliji.com.

about us

al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to retail, business, corporate and institutional customers.

Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services. 

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange Index, with QR 23.85 billion in total assets and QR 11.58 billion in customer deposits as of 30 September 2011.
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
While financial objectives are key to sustaining our prosperity in any market, at al khaliji we believe that long-term sustainability is maintained by balancing our commitments to achieving our results, with the commitment towards the development of people and the preservation of natural resources. 
Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.
#]

publié le 31 August 2014

Appointment of New Group Chief Executive Officer at al khaliji

Press release

Al Khalij Commercial Bank (al khaliji) Q.S.C. announced the official appointment of Mr. Fahad Abdulla Al Khalifa as Group Chief Executive Officer

In making the announcement on behalf of the Board, H.E. Sheikh Hamad Bin Faisal Bin Thani Al Thani, Chairman and Managing Director, acknowledged Mr. Al Khalifa for his achievements and experience.

"Mr. Al Khalifa’s skills and career history match the aspirations of al khaliji bank. Having wide banking experience, he has demonstrated commitment to the banking sector in Qatar, gaining the trust and appreciation of the board. We are confident Mr. Al Khalifa’s appointment, as al khaliji Group’s CEO, will contribute to the bank’s capabilities and leadership while strengthening its position in Qatar and the region. On behalf of the al khaliji Board of Directors and al khaliji employees we would like to warmly welcome Fahad to his new position ”.

Al Khalifa is a senior banker with over 20 years of experience, he has held prominent positions in Qatari banks, including Qatar Central Bank and Qatar National Bank (QNB), which translates into knowledge and perspective with regards to the local and regional market. Al Khalifa is a graduate from the Seattle University in the United States with a Bachelor of Science Degree in Finance.

For more information about al khaliji, please visit www.alkhaliji.com.

about al khaliji

al khaliji is Qatar’s pioneer “next generation bank”, offering a full range of conventional banking products and services to premium, business, corporate and international customers in Qatar, UAE and France.

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange since 2007, with QR 48.3 billion in total assets and QR 25.3 billion in customer deposits as of June 30, 2014.

Al Khaliji France is al khaliji’s subsidiary in Paris, France, with a network of branches in the UAE covering Abu Dhabi, Dubai, Sharjah, and Ras Al Khaima. This branch network offers customers and businesses local, regional and international banking services.

al khaliji products and level of service reflect the Bank’s belief that to be a successful financial institution, the Bank must meet the needs of both this generation and future generations of employees, customers, investors and business partners.

al khaliji was awarded with a positive Fitch Rating. With a Long Term Issuer Default Rating of ‘A’ and a Short Term Issuer Default Rating of ‘F1’, this facilitates streamlined access to resources all over the globe.

Achieving financial objectives is critical to sustaining prosperity in any market, at al khaliji long-term sustainability is maintained by balancing the commitment to achieving results with the commitment towards the development of people and the community.

Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.

publié le 18 December 2012

AQ UAE launches first-ever Exclusive Gold & Diamond jewelry brand Hand Made in Dubai.


The Origin:

Inspired by the purity of Diamond, the precious of 18kt Gold and the smart Elegance from France, Aq uae is exclusively hand made in Dubai under High-End Quality demands.

The story:

Aq uae is playing between the words “Aqua” as a drop of water referring to the clarity of Diamonds and UAE as Made in Dubai. It’s also part of the creator’s family name “Acquaviva” which means Alive Water in rough translation.

The collection:

This is an ideal gift to make any occasion exclusive, “Diamonds are a girls’ best friend” (Marylin Monroe).
Four lines translate the roots of Aq uae around the bracelets’ universe:

  • The first line “Sur un fil” is purely designed to follow the contemporary luxury codes based on refinement. Declined in 1, 2 or 3 diamonds with a large variety of fashionable color bracelets for daily wear or full gold chain for the evening to make everyone finding a jewelry matching their own taste.
  • The second line “Paris Dubai” is a journey for modern women looking for trendy jewelry. The curved shape of the diamond pave setting is fitting perfectly our wrist and the versions in yellow and white gold are the perfect combinations to wear all at the same time.
  • The Third Line “Charms” is offering a range of symbols to reflect its own personality or a key moment in life. Feel free to combine several bracelets to make your jewelry unique.
  • The last but not least “My first diamond” is dedicated to our lovely kids, so precious from our eyes that we want to afford them the best and what a better gift for the eternity than a first diamond.

About Karine Brunel-Acquaviva:

Karine comes from a family with three generations linked to the watch and jewelry industry in France. Post graduated from a well-known business school in Paris, she has collaborated for more than 10 years with leading luxury international groups before moving to Dubai in 2008.
A creative and entrepreneurial person, Karine had a dream to create a jewelry brand inspired from Paris to Dubai, thus, Aq uae is born!

publié le 2 February 2013

Arab Business Club’s Delegation Visit to Thumbay Group

[# Keen on providing its members with the greatest opportunities and opening the doors for promising and lucrative business opportunities, Arab Business Club , the region’s premier community for investors, business leaders and decision makers, organized on January the 29th its first delegation visit for the year 2013. The delegation, comprised of chosen members, visited Gulf Medical University ’s Campus and attended a reception, presentation, site tour and lunch all prepared by Thumbay Group of Companies with the attendance of its founder and president, Mr. Thumbay Moideen.#]

[#

The visit started at 11 AM with a cocktail reception that saw the club members and Thumbay’s executives networking and exchanging opinions and ideas.

The receptions was followed by a seminar in one of the university’s amphitheaters, The seminar opened by a speech by Mr. Hamdan Mohamed Al Morshedi, president and chairman of the board, Arab Business Club , who said: "Delegation visits are one of Arab Business Club ’s traditional activities that have proved to be exceptionally useful in bringing our members together and introducing them to market-leading players and decision makers. This is only the first visit of several delegation visits planned for our members throughout 2013."

"Today we are visiting THUMBAY GROUP OF COMPANIES, a business conglomerate headquartered in Ajman, United Arab Emirates. The group has progressed vigorously over the years and is managed by highly experienced professionals headed by the group’s President Mr. Thumbay Moideen, A man of vision and dynamism, with a determination to succeed. I want to thank you all for coming and thank our gracious host and I promise you an exciting year full of business-generating events and activities with Arab Business Club ’s ambitious plan for the year 2013," he concluded.

The floor was given then to Mr. Thumbay Moideen, founder and president, Thumbay Group of Companies, who thanked the delegation for their visit saying: "It’s an honor to welcome you into our campus and we I want to thank my friend Hamdan and Arab Business Club for organizing this visit."

" We are always looking forward towards expanding our business and the reason we are having this meeting with Arab Business Club members is to explore the prospects of cooperation and the expansion opportunities that we might find both locally and regionally. Thank you again for your visit and I hope that you enjoy your visit to this university which is we’re extremely proud of." He concluded.
Mr, Thumbay’s speech was followed by a detailed presentation about Thumbay Group and Gulf Medical University in particular, given by Mr. Vinod Abraham, Director of external and international affairs, Thumbay Group, followed by exchanging of gifts of appreciation between Mr. Hamdan Mohamed Al Morshedi and Mr. Thumbay Moideen . An exciting site-tour followed, through which the delegation got

to see first-hand the advanced level of education and training the students are getting in Gulf Medical University .
The site tour was followed by a delicious lunch full of tasty dishes prepared by Mr. Thumbay’s own "The Terrace" restaurant.

About Arab Business Club :

Arab Business Club is a platform that brings together elite businessmen, investors and decision makers from the region and from all over the world, a platform where we bring together investment opportunities and the investors capable of grabbing and seizing them, a platform where the boundaries of culture and language vanish paving the way for prosperous and fruitful businesses and partnerships between prominent Arab businessmen and their colleagues from around the globe.

4 years after establishment -the club was established in 8 August 2008- as a global network with offices in New York and Dubai and carefully selected members, the club now can count more than 8500 members from 27 members, with ambassadors in Bahrain, Oman, KSA, Egypt, Germany, Sweden, UK, Spain, Qatar, Kuwait, Russia, Italy and Tatarstan. The unique services and upscale bespoke activities, the club organizes, will allow you to build important and fruitful business relations, built on credibility, transparency and mutual benefits, will allow you to share your ideas and projects with people who can help see them achieved and will allow you to find the perfect opportunity to invest your money and resources and achieve the success you aspire to.

About Thumbay Group of Companies

A business conglomerate headquartered in Ajman, United Arab Emirates. The group has progressed vigorously over the years and is managed by highly experienced professionals headed by the group’s President Mr. Thumbay Moideen, A man of vision and dynamism, with a determination to succeed.

In the year 1998, Mr. Moideen established the THUMBAY Group, U.A.E. Under his dynamic leadership it went on to achieve tremendous growth, and in the process, provided means of livelihood to hundreds of families over the last decade.

The Thumbay Group has since ventured into Health Education, Healthcare, Medical Research, Diagnostics, Retail Pharmacy, Health Communications, Information Technology, Retail Opticals, Wellness, Hospitality and Real Estate. The group operates today in 11 sectors, employing more than 2200 employees from 175 nationalities.

Photos: Please visit www.arabbusinessclub.org for more photos of this event.

Please confirm your attendancet o events@arabbusinessclub.org or call +971 4 358 3000 or +971 55 968 7167.

To know more about membership, arrange a visit to your company/factory, and our advertising please contact:

Tel: +9143583000 Mobile Kathy : +971559687167 , Anna, +971559687143 or email events@arabbusinessclub.org#]

publié le 3 December 2009

Arab publisher slams western media on Dubai

[#A leading Arab publisher, editor-in-chief and columnist has slammed the western media for its ‘senseless campaign’ against Dubai and its economic difficulties.#]

[#Writing in the English language Gulf Daily News, Anwar Abdulrahman, chairman of Bahrain-based Dar Akhbar Al Khaleej Press and Publishing House, said the ‘vitriolic, misinformed attacks’ launched over the last few days had unfairly tarnished Dubai’s government.

“They violate every basic ethic of level-headed thinking with many previously reputed pens staining their own names in a phenomenal drift of emotion without reason. Their senseless campaign against Dubai has unfortunately rendered them blind to reality,” he said.

Mr Abdulrahman, who last month addressed members of the House of Lords in London at a forum on Bahrain’s human rights movement and freedom of speech achievements, added: “Of course, many individuals have lost fortunes, but when we look at corporate losses, which basically means western banks involved in financing Dubai-based companies, these were simple business transactions or contracts. There was never any guarantee from either the Dubai government or the UAE to bail them out.

“Yet western financial companies willingly lent or invested in Dubai projects for one reason - quick profit - without remembering that if one expects rewards, don’t ignore the risk.”

Mr Abdulrahman said the same media personnel lambasting Dubai today were only two years ago hailing it as a shining example deserving to be emulated by the entire region.

“Reportage after reportage certified Dubai as a symbol of perfect vision and achievement. No one asked, argued or cast doubt on the wisdom of such enormous construction taking place in Dubai, but raced to buy anything and everything for the sake of easy money.

“This was nothing short of rapacity, greed and avarice on a grand scale. Now ’Operation Defamation’ has become their goal,” he added.

“British banking institutions that lent so lavishly to Dubai should remember that in their own country four million housing units are desperately needed. Yet they assumed that the profits from Dubai would be much more, so poured in cash hoping for a bumper bounty.

“Why did such sophisticated bankers not realise that Dubai could not sustain such gigantic growth with its limited population? It is up to them now to pick up the pieces - not Dubai’s government.”

Mr Abdulrahman said Dubai’s government had done much to develop the emirate, from hotels to beaches, shopping centres and tourism, adding that these were working assets since Dubai would remain a magnet for holidaymakers.

“Admittedly Dubai over-invested in this field. What a shame it had no vision to also build up two sectors that always perform in good and bad times - industry and agriculture. But no economy is perfect,” he said.

Mr Abdulrahman said countries like Britain and the US were burdened with astronomically greater debts than Dubai.

“Why are the wolves howling at Dubai when there is ’silence of the lambs’ about their own nations?” he concluded.#]

Tradearabia

publié le 17 January 2010

Armani at the Burj

[#The first Armani brand hotel is expected to be opened by the first quarter of 2009 and is under construction as part of the Burj Dubai development. The Dubai ’Armani Hotel’ will include 175 guest rooms and suites, five restaurants and a spa, covering more than 40,000m².#]

[#
Alongside the hotel, the Burj Dubai will also offer 160 luxury residential apartments all designed by Giorgio Armani and fully furnished with a specially designed line of products from the Armani Casa home furnishings collection.

The schedule of Armani hotel openings to follow Dubai will be Milan, London, and New York along with the first resort. Giorgio Armani said, "This marks the beginning of a new chapter in the Armani story. In this our thirtieth anniversary year, I cannot think of a more energising prospect than bringing my philosophy of style and design to a collection of hotels and resorts.

"Today, more than ever before, fashion has expanded to encompass our way of life, not just how we dress, but where we live, which restaurants we eat at, which car we drive, where we go on holiday and which hotels we stay in.

"I strongly believe that for those people who enjoy the Armani fashion and home furnishings collections there will be a real enthusiasm for the possibility to now stay at an Armani hotel or resort. This continues our ongoing strategy of building the Armani universe into a comprehensive lifestyle brand."#]

publié le 27 February 2010

Artemis masters the wind of the desert and closes in on Team Aqua

press release

[#Chris Bake and his Team Aqua still lead the fleet race ranking of the Al Maktoum Sailing Trophy RC 44; however Torbjorn Tornqvist’s Artemis is now only two points behind ahead of the last day. Igor Lah’s Ceeref isn’t far either, currently third overall and eight points behind. The last day will be intense!#]

February 26, 2010 – It was another very interesting day off Dubai, with a very hot wind blowing up to 25 knots and the sky covered with sand and dust from the desert. Torbjorn Tornqvist and his team enjoyed those tough conditions: they got the best results today with a second, a third and a first place and are now only two points away from the leader Team Aqua.

The first regatta of the day was the closest one, with the top five boats crossing the arrival line in less than fifteen seconds. Leading during most of the regatta, Team Aqua had to avoid Katusha – who broached brutally in front of them – at the windward mark, by crash-tacking and heading to the less favoured right hand side of the course. Ceeref, Artemis and No Way Back benefited from this incident to take the lead and cross the arrival line in this order. “We were not far from seeing two RC 44’s sink", explained Chris Bake at the end of the day. “It was a really close one and we were all quite shaked by this incident!"

Team Aqua recovered well during the second regatta of the day, sailing to the left of the course before tacking at the first big left shift and extending its lead throughout the race. The second beat saw a different – and rare – scenario, with Team Sea Dubai recovering from a fairly big deficit by sailing on their own to the right and climbing up to the second place, just ahead of Artemis.

The third race gave Torbjorn Tornqvist the opportunity to close in on Team Aqua. Artemis took an excellent start whilst his main opponent struggled at the Race Committee end of the line, suffering during the beat as the wind was slowly shifting left. The boats then started heading for the windward mark, tacking one after the other over Team Aqua. “That’s the game", commented Bake. “I would have done the same." As a consequence, Artemis, Katusha and Team Austria started extending their lead, finally crossing the arrival line in this order after a fabulous fight. “I just can’t tell you how much I have enjoyed today", said Torbjorn Tornqvist a few minutes later. “Those boats are really something special in those conditions. It’s just fantastic."

Three to four more races are scheduled tomorrow weather permitting it. A bad storm is announced over Dubai tonight, and even rain is expected. A rarity in Dubai!

The results so far show that all the teams have managed to finish races in the top five whilst seven of them have achieved top threes. As for the leaders, their worse result is a sixth for Team Aqua and a fifth for Artemis. Last but not least, four different teams have managed to win races. The consistency in the top five definitely seems to be the key to victory!

They said:

Torbjorn Tornqvist, helmsman, Artemis: “The wind was strong but we were within the limits of this boat and I never worried. We had no failures and could concentrate entirely on our racing."

Chris Bake, helmsman, Team Aqua: “We had a very good day and we sailed well. However, there were some little details that cost us a lot."

Bob Little, helmsman, Katusha: “The level is very high and it is tough for me. I have made several mistakes that have cost us a lot. But it got better in our last race. It’s the first time I steer this boat with so much wind, so I need to adapt. Luckily the team was great and they helped me a lot."

Raimondo Tonelli, helmsman, Team Sea Dubai: “I usually steer foiling Moths and I am a bowman on bigger boats, so it isn’t easy for me here, especially with this wind: the competition is very tough. But it is great and I enjoy it a lot. I am impressed how precise and sensitive the helm is."

Fleet race, provisional results after seven races:

(Ranking, name of team, helmsman, results, points)
1) Team Aqua (Chris Bake), 1, 2, 1, 2, 4, 1, 6 – 17 points
2) Artemis (Torbjorn Tornqvist), 3, 4, 5, 1, 2, 3, 1 - 19 points
3) CEEREF (Igor Lah), 2, 7, 3, 3, 1, 5, 4 - 25 points
4) Team No Way Back (Pieter Heerema), 4, 1, 7, 7, 3, 4, 5 - 31 points
5) Katusha (Bob Little), 5, 5, 2, 8, 8, 7, 2 - 37 points
6) Team Sea Dubai (Raimondo Tonelli), 6, 6, 8, 4, 6, 2, 7 - 39 points
7) Team Austria (René Mangold), 8, 3, 9, 5, 9, 8, 3 - 45 points
8) Team Islas Canarias Puerto Calero (Daniel Calero), 7, 8, 4, 9, 5, 6, 9 - 50 points
9) BMW ORACLE Racing (Mike Perris), 9, 9, 6, 6, 7, 9, 8 - 52 points

Photo: Copyright Nico Martinez / RC 44 – A great start for Artemis during today’s last regatta, whilst team Aqua struggles at the Committee end of the line.

Information to the media:

During events, news items, results, photos and updates are posted on the Class website throughout the day at http://www.rc44.com/en/live

Video news updates will be available on Thursday, Friday and Saturday evening on the Class website: http://www.rc44.com/en/gallery/index.php?idIndex=198&key=196. The event summary will be posted as soon as possible after the end of the last regatta.

Notes to the editor:

The RC 44 is a light displacement, high performance One Design sailing boat. It was designed by four-time America’s Cup winner Russell Coutts, together with Slovenian naval architect Andrej Justin. The RC 44 was created for top level racing in international regattas under strictly controlled Class Rules. The concept and the design features of the RC 44 are dedicated to the amateur helmsmen racing in fleet and match racing sailing events. The Class partners are: Oracle and SLAM (official clothes).

For more information, high resolution photos and video footage please contact:
Bernard Schopfer
bernard.schopfer@maxcomm.ch
M: +41 79 332 11 76
MaxComm Communication
media@maxcomm.ch
P: +41 22 735 55 30

publié le 7 May 2008

Artists from UAE, Morocco display their artwork in Rabat

A number of Emirati and Moroccan artists are to participate Tuesday in an arts exhibition in the Moroccan capital, which aims at boosting cultural cooperation between Abu Dhabi and Morocco.The exhibition will continue until the 4th of May.

The new exhibition is organized by Abu Dhabi Authority for Culture and Heritage (ADACH) organizes, in collaboration with the UAE’s Ministry of Culture Youth and Community Development and Morocco’s Ministry of Culture.

ADACH is boosting its cultural cooperation with Morocco following the huge success of the “Neo-Impressionism” exhibition, organized by ADACH, where ten artists from both UAE and Morocco took part last January.

Abdullah Al Amiri, Director of Art and Culture at ADACH said that “these important initiatives are aimed at bringing together Arab artists and intellectuals, and increasing ties of brotherhood and exchange of knowledge and skills.”

The exhibition “will allow participants to benefit from the experience of others, and discuss artistic styles and schools of art involved in the event,” he added.

’Neo-Impressionism’ presented a variety of artwork rich in colourful symbols, fine lines, and other artistic characteristics that are expressive of human and natural aspects.
The ten participants at ’Neo-Impressionism’ were: Ibtisam Abu Anam, Ahmed Zubeita, Hasan Al Alawi, Abdul Latheef Zein and Mohamed Bustan from Morocco; Mohamed Ali Yousef, Muna Al Khaja, Abdul Qader Al Rayes Obaid Suroor and Abdul Rahim Salem from UAE.

publié le 5 March 2012

Bahrain : The GCC Private Banking Conference

[#[#Representatives of financial institutions from more than 15 countries will take part in a special event organised by Euromoney with focus on private banking and wealth management in the GCC in Bahrain this week.

The first Euromoney GCC Private Banking Conference will be held on March 7 at the Ritz-Carlton.

Euromoney is working together with the Bahrain Economic Development Board (EDB) to create a special event in Bahrain at a time of significant global uncertainty and change.

The financial institutions include the Central Bank of Bahrain (CBB), the OECD, Credit Suisse, Investcorp, UBS, National Bank of Bahrain, Ahli United Bank, Arcapita, Arab Bank, Premier Group, Mumtalakat, DBS, Bank of Tokyo Mitsubishi, BNP Paribas, Citi and Goldman Sachs.

“The private banking and wealth management industry is a vital part of the GCC economy” said Richard Banks, director of Private Banking at Euromoney Conferences.

“The industry and the market it serves are changing fast. We’re delighted to be able to work with the EDB to create a day long strategy forum to take the temperature of the industry here in Bahrain and the wider region.”

Shaikh Mohammed bin Essa Al-Khalifa, chief executive of the EDB said: “We are delighted to be hosting this event in Bahrain. There is an increasing demand across the Gulf economies for sophisticated products and advice to help people manage their wealth.”

“We, in Bahrain, are proud to play an important part in this industry. Financial services accounts for over 14,000 jobs in Bahrain and we see private banking as an important part of developing this industry in the future.”

The event will include contributions from the CBB global regulators, international banks, and local and regional wealth managers. It will focus on how the industry is changing and how it can and must adapt to meet the challenges it faces.

Rohit Walia, executive vice chairman and CEO, Bank Sarasin-Alpen Group –Middle East & South Asia stated: “The world of private banking is changing at a rapid pace with the current market conditions and evolving regulatory framework and investor preferences.”

“Private banks need to respond to these changes and review their approach to business. I look forward to the exchange of views with other business leaders on the topic,” he added.#]#]

publié le 13 April 2014

Bahrain Economic Development Board participates in ABTEC 2014

press release

The Economic Development Board (EDB) participated in the Arabian Banking Technology Exhibition and Conference (ABTEC) 2014 which is being held at the Bahrain International Centre for Exhibitions and Conference between April 8th and 9th.

The event is considered one of the regionally pioneering platforms that links the finance and technology sectors in the Middle East and North Africa (MENA) region, representing the largest gathering for experts in the field of financial technology. It is the result of an important initiative launched by the National Innovation Society, and is supported by the Central Bank of Bahrain (CBB) and the EDB.

EDB Chief Economist, Dr Jarmo Kotilaine, delivered presentation entitled “Current trends in the regional financial services sector”, where he discussed the economic, regulatory, and market developments shaping the banking sector in the Middle East.

The seminar highlighted the importance of structural economic drivers in ensuring positive growth and fueling the demand for financial services. Key factors in this regard include demographic dynamics, economic diversification, and the establishment of large scale infrastructure projects, as well as the government’s role in this sector. Among other things, Dr Kotilaine shed light on the decreasing contribution of the non-hydrocarbons sector in the country’s GDP, which accounts for less than 20% while virtually all other sectors have expanded.

Also explored were the effects of regulation and policies in the financial sector, with the stricter regulations that were recently introduced in the sector in response to the global crisis being highlighted. New regulatory reforms, , most notably the Basel III standards, play an important role in forcing banks to adjust their operations. This has fueled the demand for alternative fnding solutions. Also the rise of Sharia compliant transactions highlights the ongoing process of diversification and innovation in the sector.

Dr Kotilaine also described the banks’ role in the region as having gradually become less central, while the role of capital markets have grown rapidly, especially with respect to fixed income markets. This is in line with the development of the financial services’ products through the launch of long term savings, SME lending, and mortgages, as well as the changing role of foreign providers as European banks retreat from syndicated loans field.

This year’s ABTEC 2014 is being held under the theme “Turning digital disruption into transformational opportunities”, with various initiatives being discussed on the ways for financial institutions to reinvent their business models to present more digital value

The EDB has a long-standing history of supporting events that discusses the financial services sector such as the World Islamic Banking Conference (WIBC), with the latest being held in December last year.

publié le 30 August 2011

Bahrain economy records 19.8pc growth

[#Bahrain’s economy has bounced back registering a significant growth of 19.8 per cent during the second quarter of this year due to the government reform efforts, said senior officials, citing data.#]

[#The growth rate at constant price registered an increase of 0.8 per cent during the second quarter, compared to the same period last year and about 1 per cent compared to 2009, according to preliminary figures released by Central Informatics Organisation (CIO).

’Bold decisions taken by Gulf governments during the recent incidents, particularly Saudi Arabia and the UAE, have helped boost business sentiment in the country and improved the investment climate for the private sector,’ CIO president Dr Mohammed Al Amer stated.

’This positive impact will encourage foreign and institutional investors to return to Bahrain,’ he added

The country’s economy grew 19.8 per cent at current prices during the second quarter compared to the same period last year, due to an increase in international oil prices, the CIO data showed.

The oil sector contributed 1.9 per cent to the growth, while non-oil sector 0.6 per cent. Retail banks registered a growth rate of 3.7 per cent at constant prices, the data said.

Services sector also showed stable growth with goods producing industries surging 2.9 per cent, transportation and communications 8.6 per cent, government services 4.9 per cent, social and personal services 12.9 per cent, electricity and water 17.3 per cent, wholesale and retail trade one per cent and agriculture and fishing 8.3 per cent, while building, construction and real estate activities, business services and hotels and restaurants dropped by 1.8 per cent, 3.8 per cent and 17.4 per cent respectively.#]

Tradearabia

publié le 7 April 2011

Bahrain GDP grows 4.5pc to $23bn in 2010

[#Bahrain’s economy accelerated in the final quarter of last year from the previous three months and grew 4.5 percent in 2010 as a whole, beating forecasts, data showed on Thursday.#]

[#
The kingdom’s economy grew 1.1 percent in the fourth quarter of 2010, accelerating from a revised 0.9 percent increase in the third quarter.

Full-year growth beat a Reuters poll forecast for a 4.0 percent expansion and outperformed 3.1 percent growth in 2009.

The kingdom was rocked recently by its worst public unrest since the 1990s as anti-government protesters took to the streets, but its economy continues to recover from the global economic downturn, helped by robust oil prices.

The construction and real estate sectors though have yet to return to pre-crisis levels. The financial sector, which accounts for nearly 21 percent of the economy, is only slowly picking up from the financial crisis and a regional property crash.

Gross domestic product compared with a year earlier rose 4.2 percent in the fourth quarter, slowing from a 4.4 percent increase in the third quarter.

The hydrocarbon sector grew 0.2 percent in real terms in 2010, while the financial sector added 5.2 percent. The statistics office did not release data by expenditure.

Bahrain’s nominal GDP reached 8.627 billion dinars ($22.9 billion) in 2010, the data also showed.

Analysts polled by Reuters in March cut their real GDP growth forecast for Bahrain to 3.4 percent for 2011, from 4.2 percent expected in December following the unrest. The government still sees a 4.5 percent expansion.#]

Reuters

publié le 10 July 2013

Bahrain Private Sector Recovery Set To Continue

Press relaese

The robust growth witnessed in the Bahraini private sector in 2012 is set to continue this year, according to the latest Bahrain Economic Quarterly, issued today by the Bahrain Economic Development Board (EDB).

Bahrain saw overall GDP growth of 3.4% in 2012, but the pace of the expansion in the non-oil sector reached 6.7%. According to EDB estimates, overall growth in 2013 is expected to exceed 5% on the back of a rebound in oil production and ongoing expansion in the non-oil sector.

All sectors of the Bahraini non-oil economy recorded growth in 2012. Among the largest sectors, manufacturing grew by more than 9% whilst financial services expanded by 3.5%. Strong performances were also seen in social and personal services, one of the most dynamic sectors of the economy in recent years, which grew more than 10%. Hotels and restaurants saw 26% growth as the sector rebounded from the 2011 slow-down. In general, the report found that “economic activity has now largely normalized across the non-oil economy.”

The Quarterly argues that this return to growth in the private sector has been underpinned by favourable credit conditions and a strong export performance. The increase in bank lending in Bahrain in 2012 peaked at 18% in April, before levelling out at approximately 6%, a growth level that has continued into the first quarter of 2013. This increased lending has also been aided by strong liquidity among Bahrain’s retail banks, which remain in robust health.

The report also noted that the dynamics for private sector recruitment “are looking increasingly promising” after more than 2,000 private sector jobs were created for Bahraini nationals in the last three months of 2012, in comparison to a slight contraction in the same period in 2011.

Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of Bahrain EDB said: “The ongoing growth in Bahrain is encouraging and we are seeing signs that it has continued into 2013, underpinned by solid economic fundamentals. This sustainable growth is essential in maintaining the process of rebalancing and diversifying the Bahraini economy and in creating employment and opportunities for Bahrainis.

“As the Bahraini economy expands and the broader economic conditions continue to improve across the region, this will open more opportunities for international businesses that are looking to take advantage of the opportunities within the $1.4 trillion Gulf market.”
The full report can be downloaded from www.bahrainedb.com.

publié le 4 April 2015

Barwa Bank appoints Sheikh Abdul Rahman Bin Fahad Al Thani as Head of Government Sector

Press release

Barwa Bank, Qatar’s most progressive Shari’ah compliant service provider, announced the promotion of Sheikh Abdul Rahman Bin Fahad Al Thani as Head of Government Sector.

Prior to joining Barwa Bank in 2011, Sheikh Abdul Rahman Bin Fahad Al Thani held senior roles at Qatar International Islamic Bank and the Islamic Bank of Britain in London. With over seven years of experience in the Corporate and Government banking sectors, he has been recognised for his diligence, work ethic and ability to cope with challenging business environments.
Sheikh Abdul Rahman Bin Fahad Al Thani holds a bachelor’s degree in International Business Management from the University of North Umbria in Newcastle, United Kingdom.
Commenting on the appointment, Mr. Khalid Yousef Al-Subeai, Barwa Bank’s Acting Group Chief Executive Officer said:

"Long-term individual development is one of our priorities at Barwa Bank. As the most progressive Shari’ah compliant bank in Qatar, we’ve made it our mission to embrace professional development, culture, innovation and creativity by incorporating professional development within our overall corporate strategy.

On behalf of everyone at Barwa Bank, I would like to congratulate Sheikh Abdul Rahman Bin Fahad Al Thani on this well-deserved promotion. I am fully confident of his contribution to meeting the needs and requirements of our Government sector clients”.

publié le 30 May 2015

Barwa Bank awarded by Euromoney for Innovation in Islamic Finance

Barwa Bank, Qatar’s most progressive Shari’ah compliant service provider, has been recognized by the Euromoney Awards for Innovation in Islamic Finance 2015 for its lead role in international Sukuk issuance. Against a number of criteria across key metrics including innovation, cross border presence and industry growth contribution, Barwa Bank won two awards for Her Majesty’s Treasury GBP 200 million UK Sovereign Sukuk, as well as for the International Finance Facility for Immunisation Company/GAVI $ 500 million Sukuk.

In June 2014, Barwa Bank’s appointment as one of five Joint Lead Managers for the UK’s GBP 200 million debut Sovereign Sukuk marked its integral role in a landmark transaction that saw the first Shari’ah compliant issuance by a western nation; the total order book ran to close to 2 billion GBP, with nearly half being generated through Barwa Bank.

Issued in November 2014, the IFFIm (International Finance Facility for Immunisation Company) benchmark medium term Sukuk addressed a humanitarian cause, its proceeds channeled into the provision of free vaccines and health systems for the world’s poorest nations. Alongside the World Bank, the acting Treasury manager, Barwa Bank was mandated among four other banks as Joint Lead Manager and bookrunner for the IFFIm Sukuk; an assignment that has not only highlighted Barwa Bank’s prominent role as a lead on cross-border, scalable and high-profile Sukuk issuance transactions, but that also perfectly exemplified the bank’s commitment to instilling core Islamic finance values in innovation.

In a statement Khalid Yousef Al-Subeai, Acting Group CEO, said: “Our role as the only Qatari and fully Islamic bank mandated on the UK Sovereign Sukuk was nothing short of a major testament to our vision, commitment to adding value to our clients and quality of our team.”

“As we hone, expand and continuously rethink our expertise and role in the international Islamic Capital markets – more so as a leading debt capital market house in the region and across borders – this recognition by the Euromoney Awards for Innovation in Islamic Finance 2015, an institution with weight, credibility and stringent standards for excellence, is proof and reassurance that we are on the right track,” he added.

About Barwa Bank

Barwa Bank is a Shari’ah compliant bank in the State of Qatar, established in Doha and licensed and regulated by the Qatar Central Bank. Barwa Bank provides a full range of Shari’ah compliant banking services including retail, corporate and commercial banking, private banking, real estate finance, structured finance, investments and asset management.

publié le 30 June 2015

Barwa Bank net profit up by 4% for the first quarter of 2015

Press release

On the heels of a record performance marking the fiscal year 2014, Barwa Bank, Qatar’s most progressive Shari’ah compliant service provider, capped the first quarter of 2015 with equally remarkable results.

The results showed that the bank’s net profit soared by 4% to reach QAR 209 million, compared with QAR 201 million corresponding to the same period in 2014. This robust growth was reflected across the bank’s balance sheet and verticals; standing at QAR 40.5 billion, total assets jumped by 24% year-on-year, underpinned by significant growth in Barwa Bank’s financing portfolio, which itself registered an increase of 22% to exceed QAR 25.1 billion.

Customer deposits also strongly stands at QAR 21.1 billion, while earnings per share rose from QAR 0.66 in the first quarter of 2014 to QAR 0.70 in Q1 2015.

H.E. Sheikh Mohamad bin Hamad bin Jassim Al Thani, Chairman at Barwa Bank Group, commented on the strong performance:

“While the region’s economic and financial landscape is undergoing transformative changes that are reshaping our sector, we’ve seen this dynamic environment positively challenge our drive and determination to grow and expand our presence in the Qatari market and beyond. Our performance in the first quarter of 2015 is a reflection of this focused growth strategy; while several landmark deals and partnerships that we had closed in 2014 offered us a head-start into this year, our Q1 results demonstrate Barwa Bank’s commitment to long-term, carefully studied and cautiously progressive growth to both our group and our key stakeholders.”

Mr. Khalid Yousef Al-Subeai, Acting Group CEO added:

“Underlining our growth strategy over the past few years and going forward is an uncompromising stance on strong profitability and solid revenue stream. We’ve poured focused and great efforts and investments into ensuring that our growth and expansion would not be at the expense of our P&L balances. Our revenues increased by 6% and our expenses were reduced by 4% during the first quarter of this year, bringing our cost-revenue ratio down to 38% from 42% in 2014. In parallel, our non-performing assets accounted for 1.6% of the total financing portfolio, down from 1.9% for the same period in 2014. As we continue to undertake ambitious projects and expansion plans, our priority remains on maintaining a healthy growth trajectory with long-term, solid prospects.”

- Ends-

publié le 14 April 2015

Barwa Bank net profit up by 41.5% in 2014

Press release

Barwa Bank’s financial results for 2014 showed strong growth across all segments, with Net Profit reaching QAR 713 million, up by 41.5% as compared to 2013. Total assets grew by 14% reaching QAR 38 billion, driven mainly by strong growth in the bank’s financing portfolio which grew from QAR 19.3 billion to QAR 23 billion, an increase of 19% over 2013.

Customer deposits stood at QAR 21.9 billion at the end of the year from QAR 21.2 billion in the 2013, representing a 3% increase. Earnings per share (EPS) were at QAR 2.40 for 2014, 43% higher than the previous year.

H.E. Sheikh Mohammad bin Hamad bin Jassim Al Thani, Chairman of the Board of Directors of Barwa Bank, commented on the strong results:

“2014 was another outstanding year for the bank, with growth continuing unabated across all segments and subsidiaries. This strong performance would have not have been possible without the exceptional leadership, foresight, and fortitude of everyone at Barwa Bank; to the Board of Directors, Executive Management, and the entire team at the Bank I extend my deepest thanks and gratitude for delivering yet again another strong year.”

Based on the outstanding performance and excellent results, the board recommended a 10% cash dividend to shareholders.

“I would also like to welcome our new major shareholder the General Retirement and Social Insurance Authority, who will prove to be a valuable asset to the Bank as we continue with our growth trajectory and delivering innovative Shari’ah compliant financial services in line with our strategic goals and the aspirations of the Qatar National Vision 2030. I would also like to thank our previous major shareholder Barwa Real Estate and wish them well in their future endeavours.

Khalid Yousef Al-Subeai, Acting Group CEO added:

“We are proud of our achievements in 2014, where we maintained the title of fastest growing bank from a Net Income perspective. We continue to improve our service offering to our loyal clients through a full range of Shari’ah compliant commercial banking services at Barwa Bank, investment banking services through wholly-owned subsidiary The First Investor, and specialised leasing and consumer finance through subsidiaries First Leasing Company and First Finance Company, puts the bank in a unique position to offer a ‘one stop shop’ service to customers.” 

Barwa Bank continued increasing its footprint within Qatar, with the opening of its seventh branch in the prestigious Medina Centrale at The Pearl-Qatar. In addition, digital innovation took to the forefront in 2014 with both the mobile and internet banking platforms revamped to offer even more convenient services to customers.

Barwa Bank’s expertise continued to be sought after, with the corporate team’s involvement in major sukuk issuances in 2014.

In June, the bank was appointed as one of five Joint Lead Managers for the UK’s GBP 200 million debut sovereign sukuk, a landmark transaction which saw the first issue of a Shari’ah compliant debt instrument by a western nation. Later in the year, Barwa Bank was also appointed by the International Finance Facility for Immunisation Company (IFFIm) as Joint Lead Manager and bookrunner; this sukuk issue was overseen by the World Bank who acts as Treasury Managers for the issuer.

Locally, Barwa Bank provided financing for the development of the Doha Metro Gold Line as sole book runner in a deal worth more than QAR 3.65 billion (over USD 1bn).

Khalid Yousef Al-Subeai, Acting Group CEO also commented on the commitment to Qatarisation:

“Barwa Bank remains committed to the development of its most important asset, human capital, and has achieved 25% Qatarisation at a Group level.

“The Bank further cemented its commitment to Qatarisation efforts by establishing a dedicated Qatarisation department within HR with the responsibility to identify, attract, and develop Qatari banking professionals.“

Barwa Bank and its subsidiaries continue to be recognised with regional and international accolades, with Barwa Bank clinching over 15 awards, most recently for the ‘Best Internet Banking Brand Middle East 2014’, ‘Best Mobile Banking Brand Middle East 2014’, and ‘Best Customer Service Banking Brand Middle East 2014’ at the Global Brands Awards.

In addition, The First Investor was recognised at the Banker Middle East Product Awards 2014 for the ‘Best Investment Fund’ and First Finance Company was recognised for ‘Best Personal Finance’.

publié le 7 July 2014

Barwa Bank opens Representative Office in Dubai International Financial Centre (DIFC)

Press release

Barwa Bank, Qatar’s fastest growing Shari’ah compliant banking service provider, has announced the opening of a Representative Office in Dubai International Financial Centre (DIFC).

Khalid Al Subeai, Acting CEO at Barwa Bank, said, "This is the first time Barwa Bank has opened an office overseas and is testament to our commitment to developing the Shariah-compliant financial market outside as well as within Qatar."
Keith Bradley, Group Chief Operating Officer & GM International, Barwa Bank commented, "Barwa Bank has been providing facilities to public and private sector companies in the UAE for three years now. Opening a Representative Office is a logical next step as we seek to deepen existing relationships and enhance the level of service we can provide."
Jeffrey Singer, CEO of DIFC Authority, commented, "We are delighted to welcome Barwa Bank to DIFC. In line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai is well-positioned to become a hub for Islamic finance, and we look forward to supporting the growth of businesses such as Barwa Bank, who are looking to expand their Shari’ah compliant offering across the wider region."
Currently in its fifth year of operation, Barwa Bank is well established to play a major role in the development of the banking and financial services sector in Qatar in the years to come, enjoying strong relations with major corporates, an increasingly growing SME portfolio and one of the fastest growing retail banking activities in the country. This momentum is expected to increase in 2014, as it continues to build up activities, and cement its position as a major Shari’ah compliant banking group in Qatar and the region.

publié le 4 July 2010

Bena Properties, Member of Cham Holding, Signs Agreement with Accor Group to Manage Two Hotels at Taj Halab

[#Bena Properties, the real estate development and investment arm of Cham Holding and the largest Syrian private real estate company, signed today a management agreement with Accor Group. The agreement appoints Accor Group to manage two hotels at Bena Properties.#]

[#Accor Group enters the Syrian market for the first time with two of its hotel brands. Featuring 129 and 150 keys, the four-star Novotel hotel and three-star ibis hotel will create a new addition to Aleppo’s as well as the national hospitality scene.

Commenting on the agreement, Accor Middle East Managing Director Christophe Landais said: "The signature of Novotel & ibis Aleppo today, our first Accor hotels, is only the beginning of what I am confident to be a fruitful and long-term collaboration with Bena Properties& Cham Holding. Our first entry into Syria’s promising travel and tourism market reinforces our commitment to the Middle East market which plays a vital and robust role in Accor’s global expansion plans. This agreement with Cham Holding and Bena Properties
allows us to contribute to Syria’s local economy by driving growth in the tourism sector."

Mr. Hawazen Esber, CEO of Bena Properties
, said: "At Bena Properties , we plan developments that create a difference and offer added values to the local hospitality sector. We found in Accor Group a perfect choice that adds variety to Aleppo’s hotel industry needs, and comes in line with our vision for Taj Halab to provide a destination that meets and exceeds expectations of visitors coming for leisure, tourism or business. This is the latest addition to our hospitality portfolio, our first hotel in Damascus is already under construction and we will soon announce our resort development in Lattakia."

With total build-up area of 200,000 square meters, Taj Halab features seven historical buildings dating back to 1920 which will be restored and used as a boutique hotel. It will also offer a shopping mall, in-door and out-door restaurants as well as a conference centre and an open-air plaza for exhibitions and events. Taj Halab will be completed in 2014.

About Cham Holding

With a start-up capital of $360 millions, Cham Holding
was launched in 2007 by the collaboration of 73 top Syrian investors, with an investment strategy that revolves around creating opportunities for both of the Syrian public and economy. Cham Holding
aims to achieve its investment strategy through a series of projects in Property Investment and Development, Tourism and Hospitality, Finance and Banking, Transportation, Healthcare, Education and Manufacturing.

About Bena Properties

Bena Properties is the real estate development and investment arm of Cham Holding.Bena Properties
is the largest Syrian private real estate company with a diverse portfolio that consists of a range of hotels and resorts, master-planned communities, and mixed-use centers.

With determination to play a leading role in boosting the local economy, Bena Properties is playing a major part in developing the Syrian hospitality sector; by 2013, Bena Properties
’ hospitality portfolio will be the Levant’s largest, with more than 1,200 keys and 26 F&B outlets currently under development.

Bena Propertiesis already active in the four major Syrian cities - Damascus, Aleppo, Lattakia and Tartous - and is currently developing several projects in prime locations totaling more than 2.2 million square meters.Bena Properties aims at becoming the preferred partner for regional and international investors. Its mission is to trigger the Syrian economy and its vision is to build communities.

About Accor Middle East

Accor ME is one of the fastest growing hospitality groups in the Middle East. Currently, the company’s regional portfolio includes a total of 33 operational hotels in nine countries. Among the existing global brands ranging from Sofitel, Novotel, Mercure and ibis, new brands such as Pullman and Adagio are emerging as strong players in the region.

With over 25 years of regional experience, Accor ME is the first to establish a training academy. Dubbed as Tamheed - Accor Academie Middle East, the training facility is dedicated to educate and prepare staff at all levels and ensure optimal career development.#]

For further information please contact:
Fida Salloum
Weber Shandwick PR
Tel: +963 11 211 37 36
Cell: +963 (0)947 77 74 52
Fax: +963 11 211 37 35
E-mail: fida.salloum@promoseven.com

publié le 12 February 2012

Blog Your Way to a Free Weekend at Coral Hotels & Resorts

[#Coral Hotels & Resorts has launched an exciting contest on its website that invites people to have their say on the brand.

Girma Wossenseged, VP – E-commerce Development, HMH – Hospitality Management Holdings, said, “It is a great way to engage with our guests – something that people are fascinated with and enjoy. In addition to the different perspectives for our brand, it brings us an instant feedback without being staid.

The participants have to write about 300 words on “why anybody should stay at a Coral Hotel” in order to enter a draw. The winning entry will receive a complimentary weekend stay (2 nights including breakfast for maximum 2 adults and 2 kids) at any hotel of their choice across our network of properties (subject to availability).

The response to the competition has been excellent. Girma confirmed, “We are receiving a lot of entries. Of course some are amateurish ramblings but there are others that are absolutely awesome. It is going to be very hard to select a winner that will be done by a special panel of journalists and marketing experts led by our agency MPJ – Marketing Pro-Junction.”

Last date for submitting entries is March 31, 2012. Terms & Conditions Apply.

For more information visit http://www.coral-international.com#]

publié le 22 May 2010

Burj Khalifa welcomes its first residents in Armani Residences UAE,

[# Burj Khalifa, the world’s tallest building described as ’A Living Wonder’ now has its first residential community. The world’s first Armani Residences in Burj Khalifa recently welcomed its first residents.#]

[#Close on the heels of the launch of the world’s first Armani Hotel in Burj Khalifa, Emaar Properties, the developer of the mixed-use tower, has handed over homes to buyers of Armani Residences, who now have the world’s most prestigious address.

Mr Ahmad Al Matrooshi, Managing Director – UAE, Emaar Properties, said: “From ‘History Rising,’ to ‘A Living Wonder,’ Burj Khalifa has now truly come to life with the first residential community in the luxurious Armani Residences.”

He added: “Already, with the opening of Armani Hotel Dubai, the tower is buzzing with activity, and with the imminent hand-over of The Residences and The Corporate Suites, Burj Khalifa will become a vibrant lifestyle community.”

Home-owner orientation for The Residences, luxury homes in Burj Khalifa, and The Corporate Suites, a collection of high-end offices also in the tower, is currently underway.

Armani Residences is developed through a collaboration of Emaar and Giorgio Armani S.p.A. Personally designed by fashion legend Giorgio Armani, the one- and two-bedroom apartments in Armani Residences celebrate luxurious modern living. Located on levels 9 to 16 of the tower, they offer spectacular views of the city and Downtown Dubai.

Ranging in size from 100 to 200 sq metres, the homes are a reflection of Giorgio Armani’s personal approach to elegance and style. Every aspect of the home has been carefully designed to reflect his impeccable and refined taste.

Residents will have access to the range a host of amenities at Armani Hotel Dubai including eight innovative outlets and a serene spa. In addition to the highest standards in security and safety and 24x7 support services, the homes feature smart-home technology and have fully automated systems for security, temperature and drapery control, lighting, and air-conditioning. The fittings and finishes are to world-class standards – every aspect designed by Giorgio Armani.

Among other amenities in Burj Khalifa are four swimming pools, an exclusive residents’ lounge, health and wellness facilities, and At.mosphere, the world’s highest fine dining restaurant at Level 122.#]

www.emaar.ae

publié le 6 January 2010

Burj Khalifa: a new start for Dubai

[#The official opening is now more about Dubai trying to regain its previous optimism and ambition. Emaar Properties will be hoping the celebrations offer a chance to forget the past 12 months and start afresh#]

The Gulf does not have a long tradition of constructing tall buildings. With convention dictating that buildings should not be higher than the local mosque, many Arab states have stuck to low-rise architecture.

The recent economic boom turned that tradition on its head, with skyscrapers being built all around the Gulf. The most impressive, the 818-metre-high Burj Dubai renamed Burj Khalifa.

[#The project was launched in 2003, the same year the 1-kilometre-tall, 120-storey Nakheel Tower in Dubai was announced. Kuwait’s proposed 1,001-metre Mubarak al-Kabir tower was unveiled in 2006. In Qatar, the 570-metre Doha Convention Centre Tower was announced the same year. Jeddah’s mile-high Kingdom Tower was launched two years later.

The downturn has led to the Nakheel Tower being cancelled and the Doha and Kuwait projects being put on hold, while the Kingdom Tower project has been scaled back. So it is all the more surprising that it is Dubai – the Gulf economy hit hardest by the downturn – that has managed to complete a record-breaking tower.

The lack of progress on the rival projects puts the achievement into perspective. Having modified the design after construction had already started, to make the tower more than 100 metres taller, engineers had to overcome unprecedented technical and logistical challenges, from pumping concrete higher than ever before to ensuring that up to 12,000 workers could be on site on time every day.

When it was conceived, the Burj Dubai was to have been a celebration of the emirate’s transformation into a world-class financial and commercial hub. But its official opening on 4 January is now more about Dubai trying to regain its previous optimism and ambition.

Having been hit hard by the global financial crisis in 2009, the tower’s developer, the local Emaar Properties, will be hoping the celebrations offer a chance to forget the past 12 months and start afresh.
#]

publié le 25 January 2011

Business visitors qualify for extra perks in new deal from Coral Deira-Dubai

[#Specifically targeting business visitors to the city, the Coral Deira – Dubai is offering a competitive rate and unrivalled extras on a year-round basis, designed to appeal to the travelling executive.#]

[#The nightly rate offered is AED 450, and this includes not only unlimited Internet access and free breakfast, either in-room or at the Al Nafoora restaurant, but also discounts on laundry and food and beverage bills plus a welcome fruit basket and free transfers to the Deira City Centre.

In addition, all guests on this package will receive an upgrade to a suite when available, with VIP services and amenities, and will also qualify for free transfers and access to the sports and recreation facilities at the Coral Beach Resort – Sharjah.

According to general manager, Mohammed El Kahla, the promotion has been designed to address every requirement of the business guest, meeting the need for comfort, communications and creative leisure.

“Executives have to be in touch through the Internet; they expect quick service and a responsive staff who can attend to their every need, and they appreciate the opportunity to relax if they have a few hours to spare. With this package, the Coral Deira – Dubai can service all these requirements.

“In addition, we are offering a competitive set rate, valid year-round, that accommodates the corporate desire to know in advance exactly how much they are paying for a room in Dubai, rather than being subject to the seasonality of demand.”

Coral Deira - Dubai is strategically located in the commercial hub of Dubai within easy reach of main business establishments and leisure districts. It is just 10 minutes’ drive from Dubai International Airport, close by the legendary Dubai gold and spice souks and a short walk from popular shopping centres.

More information from
+ 971 4 2128234 / 2128235,
email: reservations@coral-deira.com
or visit www.coral-deira.com#]

publié le 1 February 2014

Celebrating love at Amwaj Rotana-Dubai

This Valentine’s, get away from the routine of daily life and celebrate love at Amwaj Rotana Jumeirah Beach – Dubai

Amwaj Rotana, Jumeirah Beach Residence, is delighted to offer the lovebirds an unforgettable Valentine’s this year. The utmost romantic experience is promised with the best packages.

An Air of Romance

As we go into Valentine’s season, plan a special outing for you and your partner.
At Benihana, say Aishite Imasu, Japanese for “I love you” with a special Valentine’s menu. Or, say “ti amo” at Rosso instead with an authentic Italian meal that is sure to evoke your senses inside and out. At Horizon, encounter an abundance of food to match the abundance of romance on this occasion.
How will you say Happy Valentine’s this year?
Special Valentine’s menus will feature luxurious ingredients guaranteed to exude an air of romance such as truffle, golden saffron, passion fruit and the love essential, dark chocolate.

- Valentine’s buffet at Horizon: AED 199 per person (soft drinks, juices and water) / AED 279 per person (including free flow of house beverages)
- 4-course menu at Benihana: AED 259 per person (food only)
- 4-course menu at Rosso: AED 259 per person (food only)

A Love of Chocolate

Many people’s love for chocolate is pure and simple. Nothing can take the place of this classic, especially not at Valentine’s.
1 – 14 February
Atrium
Even if you aren’t a chocolate lover, chances are that you have given someone chocolate as a gift.
Chef Gianluca and his team will keep themselves busy in our kitchen whipping up treasurable chocolate delights for the season of Valentine’s and proudly displayed at Atrium for you to take home a piece.
Tease your taste buds with luxurious chocolates made from an array of tasty ingredients like nuts and fruits in white, milk and dark chocolate.

For reservations or more information, please contact us on +971 (0)4 428 2000 or via email at fb.amwaj@rotana.com.

Celebrate Love

Amwaj Rotana will whisk you away on a romantic journey where you can enjoy a luxurious stay with breakfast, dinner at Rosso and an Aromatherapy massage for two.
You can surprise your loved one with a bouquet of flowers, bottle of sparkling wine and pralines in the room too.

To book your romantic spot this Valentine’s, call +971 (0)4 428 2000 or via email at reservations.amwaj@rotana.com.

Terms and Conditions:
- Offer is subject to availability
- Offer is valid for stays between 13 - 15 of February 2014
- Other terms and conditions may apply

About Rotana

Rotana currently manages a portfolio of over 85 properties throughout the Middle East and Africa with an aggressive expansion plan in place. Rotana has chosen to acknowledge how precious time is by making all time spent in their range of hotels ‘Treasured Time’. This means Rotana has pledged to understand and meet the individual needs of all guests. In so doing, Rotana has evolved its product brands to include, Rotana Hotels & Resorts, Centro Hotels by Rotana, Rayhaan Hotels & Resorts by Rotana and Arjaan Hotel Apartments by Rotana. Treasured Time. The Rotana promise to you.

Further information on any Rotana property, its brands or reservations can be obtained by visiting rotana.com or by contacting one of the regional sales offices.

publié le 28 March 2011

Chedid Re selects Qatarlyst technology

[#Chedid Re has strengthened its presence in the financial services market by utilizing the insurance transaction software Qatarlyst to provide advanced business processing solutions to its growing client base.#]

[#Chedid Re partners now benefit from the decision to adopt Qatarlyst, a new solution developed by the Qatar Financial Centre Authority (QFC Authority) to streamline insurance transactions through the intelligent use of sophisticated yet accessible technology.

Commenting on Chedid Re’s decision to introduce Qatarlyst, Managing Director Mr. Jihad Ghanem said: “Our growth plans across all our markets and products are keeping pace with the market developments. This growth cannot be achieved without state-of-the-art technology. So, we believe that the Qatarlyst solution is the right choice which will provide key benefits for all Chedid Re stakeholders”.
Qatarlyst is a web-based solution accessed via a standard web browser from anywhere in the world, making it both cost-effective and ideal for Chedid Re transactions. With robust security architecture and the ability to link directly and securely to in-house systems, Qatarlyst offers the flexibility of the web with the stability of high-cost internal systems and architectures.

James Sutherland, Qatarlyst’s Chief Executive Officer, said: "We are delighted that Chedid Re has selected Qatarlyst to help them improve efficiency, manage information and control their (re)insurance placement and acceptance activities. Chedid Re’s decision proves that leading brokerage firms have identified Qatarlyst as a trusted business partner offering a winning combination of flexibility and security.”
One of the MENA regions fastest growing reinsurance brokers, Chedid Re delivers comprehensive reinsurance and retrocession treaty and facultative solutions to over 170 insurance companies spread in 22 countries in the MENA region and Europe through offices in Beirut, Dubai, Limassol and Riyadh. Chedid Re has won the prestigious Reinsurance Broker of the Year award from the MENA Insurance Awards in both 2010 and 2011.

About Qatarlyst

Qatarlyst S.P.C. is ultimately owned by the Qatar Financial Centre (QFC) Authority. It has been established to underpin Qatar’s commitment to developing into a leading reinsurance and captive insurance hub.
Qatarlyst, has worked closely with some of the region’s most influential and important insurance and reinsurance companies, as well as leading brokers, to create a solution that boosts operational productivity, accelerates placement and acceptance at the same time as increasing#]

publié le 30 January 2011

Chedid Re wins the 2011 Reinsurance Broker of the Year award

Press release

[#Chedid Re has been named “2011 Reinsurance Broker of the Year” for the second year in a row by the MENA Insurance Awards (previously Gulf Insurance Awards). The prestigious award was presented to Chedid Re Chairman Mr. Farid Chedid during the competition’s 2011 awards ceremony, held at The Address in Dubai.#]

JPEG - 8.1 kb
Farid Chedid: “Winning this leading award two years in a row is a tribute to our excellence”

[#
A distinguished panel of judges comprising eminent industry leaders, practitioners and regulators from MENA and global markets agreed that product innovation, integrity, strong financial performance, commitment to customers and a proven track record of success set Chedid Re apart from all other reinsurance brokers in the region.

Receiving the award, Mr. Farid Chedid said: “It is a great honor to be named ‘2011 Reinsurance Broker of the Year’ at the MENA Insurance Awards. Winning this leading award two years in a row is a tribute to the excellence of our team members and an acknowledgement of the leading position Chedid Re holds within the reinsurance industry.”

“We are extremely gratified to receive this recognition of our contributions. Chedid Re remains committed to our innovative approach in developing reinsurance business relationships, providing our clients with expert reinsurance solutions, and building a stronger reinsurance industry in the key global market.”

One of the fastest growing reinsurance brokers in the MENA region, Chedid Re delivers comprehensive reinsurance solutions to over 170 insurance companies in MENA and Europe through offices in Beirut, Dubai, Limassol and Riyadh. For more information please visit www.chedidre.com#]

publié le 24 August 2010

Christian Louboutin boutique to open in Dubai

Christian Louboutin is to open a boutique in Dubai’s Mall of the Emirates Fashion Dome on September 1st. The opening will mark the first boutique of the designer’s in the UAE and will offer styles for both men and women. The boutique will be the company’s third in the Middle East after openings in Jeddah, Saudi Arabia and Beirut earlier this year.

publié le 7 January 2014

Classical French cuisine genius Christophe Muller to head promotion at Sofitel Abu Dhabi Corniche

Paul Bocuse protégé will head a promotion at La Mer seafood restaurant, at the five-star Sofitel Abu Dhabi Corniche, from February 10-13.Masterchef Christophe Muller, who leads the kitchen at the three-Michelin-star L’Auberge du Pont de Collonges – the Lyon gastronomic home of Paul Bocuse – will also headline a chateau dinner at Sofitel on February 11, in conjunction with Domaine de Montille and Château de Puligny-Montrachet.

Chef Christophe is one of the few culinary recipients of the coveted Meilleurs Ouvriers de France which honours the Republic’s finest craftsmen.
www.gourmetabudhabi.ae

publié le 17 January 2010

Club Med considers Abu Dhabi resort

Family-focused French holiday company Club Med is in talks with firms in Abu Dhabi and Ras Al Khaimah as it considers launching a resort in the UAE. According to the National, Abu Dhabi is a front runner due to is availability of beaches, environmental policies and tourism strategy that emphasises culture and nature. Last week, Club Med signed a deal with Oman’s Muriya Tourism Development to open a luxury resort in Salalah, due to begin operations in late 2012.

publié le 29 September 2012

Confirmation on GFH Capital’s involvement in the deal to acquire Leeds United

press release

[#Further to the news published in the Gulf Daily News (Bahraini Newspaper) on the 25th and 26th Sep 2012, referring to the proposed acquisition of Leeds United Football Club (LUFC).

Gulf Finance House (GFH) would like to confirm that GFH Capital Limited, a 100% subsidiary of Gulf Finance House, has signed an exclusive agreement to lead and arrange the acquisition of Leeds City Holdings, the parent company of LUFC.

According to a recent study released by Deloitte, LUFC is one of the best supported clubs in English Football with a higher average match day attendance than most Premier League teams. In addition, LUFC has a large and passionate fan base and a rich history of success in English Football over the last 40 years.

Football teams in England have recently received a significant revenue boost due to the re-negotiation of broadcasting rights and it is expected that from next season each team in the Premier League will receive a minimum of GBP 60m per season due to the increase in broadcasting rights. LUFC would also benefit from this if it can achieve promotion to the Premier League.

Due to a confidentiality provision, no further details can be given about the commercial terms of the transaction.#]

publié le 25 January 2011

Coral Beach Resort – Sharjah launches Incentive Scheme for the Travel Trade

[#In a bid to encourage travel agents to book clients in to the Coral Beach Resort – Sharjah, the hotel sales team has devised an incentive scheme offering rewards that extend to a 14-night free stay with air travel included.#]

[#According to general manager, Jean-Pierre Simon, the idea is to familiarise agents with the extensive facilities and attractions of the resort as well as encourage them to promote it to their clients.

“The travel trade is bombarded with information on a daily basis, and we want to keep the Coral Beach Resort – Sharjah front of mind as well as make it easy and rewarding to make bookings,” he said.

The ‘Divert and Land at Coral Beach Resort Sharjah’ scheme offers rewards for agents that book 200 or more room nights, starting with a double room for seven nights with breakfast included.

The more rooms sold, the greater the amount of perks, including airport transfers, meals, desert safaris, chauffeur-driven sightseeing, water park entry and free visas and air tickets.

The promotion is applicable for room nights produced between January 14 and March 22, 2011, and is open to all travel agent employees, valid for both group and FIT reservations – redemption of rewards can be made at any time during 2011 outside of peak periods for CIS visitors.

The Coral Beach Resort – Sharjah is located on one of the emirate’s principal sand beaches and features 156 spacious rooms as well as a range of leisure activities for all ages, including children’s pool, indoor playroom and complimentary Kid’s Club as well as tennis, badminton, volleyball and two outdoor swimming pools.#]

publié le 14 October 2010

Coral Deira – Dubai hosts Emirates Culinary Guild Monthly Meeting and Suppliers’ Showcase

[#The Rasoi Indian restaurant at the Coral Deira – Dubai was the venue for the recent meeting of the Emirates Culinary Guild, with more than 100 members in attendance to view the showcase of products and supplies on display.
#]

[#A wide variety of local manufacturers and importers used the meeting to touch base with the cream of the UAE’s culinary profession, some like EMF taking the opportunity to introduce cakes and chocolates suitable for the upcoming festive season, while others such as RAK Porcelain displayed new tableware ranges – a staple for many hotels in the country.

Among the tastings on offer were samples provided by Gulf Seafood, frozen food importer Aramtec and Fonterra, the latter with a range of dairy products.

According to Mohammed El Kahla, general manager of the Coral Deira – Dubai, the venue provided a perfect location for industry professionals to meet, mingle and exchange information: “Given the fact that the ECG is an association of professional chefs committed to the advancement of the culinary art in the UAE, it was an honour for us to host this showcase for them, and we are delighted that so many of the members involved in the preparation of food took time out from their kitchens to come along.”

Coral Deira - Dubai is strategically located in the commercial hub of Dubai within easy reach of main business establishments and leisure districts. It is just 10 minutes’ drive from Dubai International Airport, close by the legendary Dubai gold and spice souks and a short walk from popular shopping centres.#]

For more information about Coral Deira – Dubai visitwww.coral-deira.com

publié le 23 January 2011

Coral Suites Hotel – Fujairah named Official Hotel for the 3rd ITF Tennis Championship

[#From January 17th to the 22nd, one hundred and fifteen Junior Tennis players, representing fifty-one countries worldwide, participated in the 3rd edition of the Fujairah Junior Tennis Championships at the Fujairah Tennis & country club.#]

[#Over one hundred and eighty matches were played in Under-18 and Under-14 Boys and Girls Categories- including singles and doubles, which makes this tournament stand as one of the largest Tennis event for the calendar year.

The organizers were pleased to announce the Coral Suites Hotel - Fujairah as the Official Hotel for the tournament. The Hotel is assisting in ensuring this international tournament remains a success and exceeds all expectations by once again hosting all the players during their stay in Fujairah.

All players competed for valuable international ranking points. In addition to visiting players, there are visiting coaches, parents, friends and a full complement of regional ITF White Badge Officials and Supervisors. It is estimated this tournament brings close to two hundred visitors associated directly to the tournament in Fujairah each year.

Mr. Elie Tohme, General Manager of the Coral Suites Hotel – Fujairah said: “We congratulate all the players who continue to make this event memorable each year.” He added, “I would also like to take this opportunity to thank the many spectators who have been treated to the highest levels of international Junior Tennis each day.”

The tournament concluded on Saturday, January 22nd.

The Coral Suites Hotel, Fujairah is a charming property in the heart of the city. A 5-minute drive from Fujairah International Airport and the World Trade Centre, the hotel is well connected with the other emirates. Here visitors can soak in the ’sun n sea’ and savor the old world charm of Fujairah where life continues at a leisurely pace. With a laid back ambience, extensive gardens and secluded beaches, it makes for an idyllic getaway.#]

publié le 29 June 2010

Corp Exececutive Hotels Apartments - Al Barsha-Dubai Appoints New General Manager

[#Taking over the reins at the new Corp Executive Hotel Apartments – Al Barsha – Dubai is Aamir Pervez, who moves from his previous role as regional sales director at the management company, HMH (Hospitality Management Holdings).#]

[#The new brand is set to become the preferred choice of business travellers seeking service, comfort and every necessary facility at value-for-money rates, offering a modern boutique lifestyle that will appeal to leisure travellers too.

The hotel offers facilities ranging from concierge, valet and dry-cleaning through to all-day dining, 24-hour room service, wi-fi in all public areas, business centre, conference rooms, parking plus rooftop pool, Jacuzzi, sauna and steam and a state-of-the-art gym.

Corp Executive Hotel Apartments – Al Barsha – Dubai which is the first hotel to open its doors under the Corp brand. The challenge to establish a new brand during a period of consolidation in the hotel sector is one that Aamir relishes, particularly given his multi-cultural background that has given him a unique insight in to the requirements of a clientele that is made up of a vast range of nationalities.

He said, “We successfully soft launched Corp Executive Hotel Apartments last month and have enjoyed an excellent response from our guests. All through summer we have exciting promotions lined up that are designed to provide exceptional value to travelers this season. Starting from a special introductory daily rate to fabulous long-stay offer, we have marvelous promotions for both holiday makers and business seekers. We want to make Corp a cultural and social epicenter.”

Born in India and educated in New Delhi, Aamir chose to study to degree level in Europe, moving to Antwerp in Belgium to study for a Bachelor of Business Administration at the European university followed by diploma at Harlem Business School.

Starting out, multi-lingual Aamir – who numbers Urdu, Hindi, Dutch and English among his languages - chose to enter the fascinating world of diamond industry, working for two years in Belgium before moving on to become an international trading manager in Germany and then back to Belgium to work for Universal Telecom Services as operations manager.

The hospitality industry represented another new challenge for Aamir, who travelled to the Gulf to take up a new appointment in the sales team at the Coral Deira in 2006, where he rapidly found his feet and was promoted to become senior sales manager, later transferring to the Coral Boutique Villas as head of sales and marketing.

Success in implementing reservations and promotions strategy led to his further promotion, this time as general manager where he supervised prestigious key accounts as well as oversaw every aspect of operations of the property – winning an excellence award for his efforts.

A further feather in his cap was his latest role as regional sales director for HMH, where he led day-to-day operations of the sales department as well as developing strategy and establishing regional sales operations.

Now entrusted with the management of Corp Executive Hotel Apartments Al Barsha – Dubai, Aamir has a massive challenge at hand, which he is extremely excited about. He said, “We want to offer our guests amenities beyond the basic. We want them to find something special here and want them to come back to it.”
#]
For more information about Corp Executive Hotel Apartments – Al Barsha – Dubai
Visit www.corp-albarsha.com

For media contact:
Hina Bakht
Vice President
MPJ (Marketing Pro-Junction)
Mob: +971 50 6975146
Email: h.bakht@mpj-pr.com
www.mpj-pr.com

publié le 6 June 2010

CORP Executive Hotel Apartments – Al Barsha, Dubai Launches Special Introductory Offer

[#The newly opened CORP Executive Hotel Apartments – Al Barsha, Dubai, has launched a fabulous introductory offer for its guests this season. A two bedroom apartment is priced at AED 399 net while a one bedroom apartment is available for only AED 299 net. The rates are inclusive of breakfast and complimentary Internet facilities.#]

[#Michel Noblet, CEO, HMH – Hospitality Management Holdings, said, “We are delighted to welcome our first guests with these special rates which are extremely attractive and will provide real value to travellers visiting Dubai this season. Our sales and marketing strategy is focused on establishing a strong presence of Corp Executive Hotel Apartments – Al Barsha – Dubai across the GCC, accelerating sales in key feeder markets and growing the business in mid-scale sector in existing and emerging markets.”

Airline arrivals in the region are showing positive growth of around 15%. Tourist arrivals are showing growth of 5 and 9%. GDP in the region is forecast to grow by 4.5%. Putting all this into context: The region still showed 1.3% growth in GDP.

Michel said, “Levels of occupancy in Dubai are still strong. Dubai has come out on top in terms of hotel occupancy and revPAR (revenue per available room) in the Middle East, as per figures from the first quarter of this year, analysed by Deloitte, the business advisory firm. This is a very promising scenario for Corp Executive Hotel Apartments – Al Barsha – Dubai.”

However, with 8,560 rooms due to open in 2010 and 7,623 rooms to open in 2011, according to Lodging Econometrics (LE), Dubai may experience further adjustments in hotel performance.

CORP Executive Hotel Apartments – Al Barsha, Dubai has been designed to appeal to both business and leisure travellers. The deluxe hotel offers contemporary 143 one & two bedroom apartment and is located only a short walk away from the Mall of the Emirates and its world-class attractions. Within 5 minutes drive are Media & Internet City, Jumeirah Beach and Emirates Golf Club. The metro will take guests to the gold souks, the financial district, the tallest building in the world Burj Khalifa, the Dubai Mall and even the Dubai International Airport.

Corporate guests are well served with a fully equipped Business Center and wireless Internet throughout the hotel. The 2 inter-connectable meeting rooms offering the latest A/V equipment and facilities will cater to an expected strong demand from corporate clients and conference delegates.

Further highlights include a state-of-the-art fitness center and aerobic studio, a rooftop outdoor swimming pool and Jacuzzi, a sauna and steam room providing a haven for guests seeking relaxing time out.

Diners can enjoy the all-day-dining room MOOD serving international buffet and a la carte breakfast, lunch and dinner. Alternatively the lobby lounge CAFFEINE stays open round the clock. For a more leisurely experience SNUG offers a bite at the pool bar.

Michel said, “We are very proud of our property. Its location is extremely convenient and the apartments are simply exceptional. Figures thus far exceed our initial forecasts and expectations.”

Part of the introductory offer is an online draw offering 5 people a chance to win 3 nights free stay at the hotel. The first winner will be announced on July 15, 2010 followed by others every subsequent week.#]

For reservations please
call +971 (0) 4 3164040
Mob: 00971 50 5091500
Email: f.matar@corp-hotels.com

publié le 6 December 2010

Countdown to the festive season with carols and more at the Grand Millennium Dubai

[#Launching a calendar of festive events, the Grand Millennium Dubai is to host a special evening of Christmas carols in its lobby on December 13, inviting guests, visitors and staff to join singers from the Wellington School International in a medley of traditional favourites.#]

[#
Starting at 6pm, the singing will accompany a tree lighting ceremony as general manager Alex Kassatly presses the switch to illuminate the magnificent Christmas decorations that festoon the lobby and public areas.

“We hope both guests and local residents will join us in what will be a joyous occasion setting the scene for the start of the festive season,” he said.

“With a host of options for Christmas and New Year to suit all tastes, we aim to cater for every requirement, but the lighting of the tree is a particularly significant occasion in which everyone can participate - and we are delighted to have the excellent choir from the Wellington School International to lead our carol concert.”

In addition, the Grand Millennium Dubai Christmas choir group will lend their voices to the occasion, ensuring a musical treat for the audience – who are invited to also take part in the musical extravaganza.

Located near the Sheikh Zayed Road adjacent to the Dubai Metro, the Grand Millennium Dubai plays host to a variety of restaurants – including Asian, Italian, Belgian and international cuisine - all with festive specials available through December to New Year and beyond.

For more information about the Grand Millennium Dubai visit#]
www.millenniumhotels.com

publié le 12 July 2013

Deloitte: Qatar to invest over US 200 billion in construction projects by 2022

A recent Deloitte report entitled ‘Insight into the Qatar construction market and opportunities for real estate developers’ examines the construction market in Qatar and assesses opportunities for real estate developers in the country. Having been selected to host the FIFA World Cup in 2022 brought forth the opportunity for Qatar to position itself as a regional sporting hub. Qatar National Vision 2013 and programs such as Q2022 are focusing on leaving a legacy for Qatar in terms of football, infrastructure and economic development.

The Deloitte report looks into the government’s strategy of promoting sustainable tourism with the purpose of attracting more tourists and visitors. Projects such as the Qatar-Bahrain causeway is an example of this strategy, as it will help drive regional tourist arrivals in Qatar.

In terms of infrastructure, the Deloitte report examines Qatar’s plans to invest over US 140 billion in transport infrastructure in anticipation of the FIFA World Cup 2022. Plans to construct new roads and a metro system have been put forth in order to support the anticipated influx of football visitors in addition to the airport expansion which is already underway.

Deloitte experts expect this influx to also bring with it an increased demand for accommodation, with numerous worldwide chain hotels actively considering investments in the country. In fact, Qatar Tourism Authority plans to invest about US 20 billion on tourism infrastructure as the number of tourist arrivals grows at a rate of 15.9 percent compounded annually, to reach 3.7 million by 2022. This growth also creates opportunities for the development of commercial units, such as various shopping malls around Qatar.

Environmental sustainability has become a key item in the government’s agenda. One of the key goals for the Q2022 program is to improve environmental sustainability, not only limited to the event but also for the entire country. The Deloitte report suggests that the program may deliver a new environmental sustainability standard and improve nationwide awareness.

It is evident that immense opportunities exist for developers in the region and beyond, due in part to the infrastructure requirements of the FIFA World Cup 2022, and also as part of realizing Qatar’s national vision. Jesdev Saggar, Managing Director, Infrastructure & Capital Projects at Deloitte Corporate Finance Limited commented “With the world focused on Qatar’s every move, it is imperative that the local industry prepares itself for the plethora of international organizations that are ready to descend on Doha. Preparing for the competition is as important to everyone on the built environment, as it will be when the games start.”

These findings are in line with the “GCC Powers of Construction: Meeting the challenges of delivering mega projects” report issued by Deloitte during May 2013. The fourth publication in its series and the only one of its kind amongst the Financial Services industry in the Middle East In a region, the GCC Powers of Construction report highlights that the ingredients for capital projects could not be better in the GCC region as the I&CP (Infrastructure & Capital Projects) market is growing rapidly with governments announcing projects across the Middle East region, utilizing trillions of petro-dollars over the coming years.

According to this Deloitte report, clients’ increasing need for transparency, predictability and sustainability of what they spend provides contractors with an opportunity to reflect on how they can meet this by better operational performance, improved procurement, schedule management and cost reporting.

The Deloitte GCC Powers of Construction Report is produced based on data gathered from surveys and data, supported by interviews with some of the most prominent industry leaders from the region. In addition to articles and interviews examining key industry trends, the Deloitte GCC Powers of Construction report includes a country by country analysis of statistics, key projects, and a SWOT analysis.

The report highlights the case of Qatar, whereby Qatar was the third most active GCC construction market in 2012, with USD 10.4bn worth of contracts awarded. Transport infrastructure dominated Qatar’s construction sector, with four of the five biggest contracts awarded for major transport projects. Hosting the FIFA 2022 World Cup should yield considerable contracts across the construction and infrastructure sectors.

“With significant investment in major infrastructure programs increasing over the coming years across the GCC, contractors, consultants and clients alike need to rethink the way they engage each other if they are to truly realize the benefits each can bring to the process,” concluded Cynthia Corby, audit partner and leader of the Construction industry for the Middle East.

As to Qatar, Deloitte suggests that successful bidders will have to take into consideration a number of factors such as alignment with Qatar’s 2022 program strategic objectives, adherence to sustainability and health and safety standards, innovation, quality and with an overall focus on the legacy theme, which is embedded in the strategy for delivering the Qatar 2022 World Cup.

publié le 16 April 2010

Deutsche Bank Opens Branch in Abu Dhabi

[# Deutsche Bank announced the opening of its first branch in the United Arab Emirates’ (UAE) capital, Abu Dhabi. The branch will be focused on servicing the Bank’s corporate and institutional clients.#]

[#
The inauguration of the new Abu Dhabi branch was marked by the attendance of H.E. Sheikha Lubna Al Qasimi, Minister of Foreign Trade, H.E. Sultan Bin Nasser Al Suwaidi, Governor of the Central Bank of the UAE, Werner Steinmüller, Deutsche Bank’s Head of Global Transaction Banking (GTB) and member of the Group Executive Committee, and many of the Bank’s senior representatives in the region.

In her opening remarks, H.E. Sheikha Lubna said “There is no doubt that the fact that a leading global bank such as Deutsche Bank has been operating in the UAE for more than a decade underscores the strategic perspective of global financial institutions towards the favourable business environment and the competitive atmosphere that the country presents.” H.E. added that the opening of the Deutsche Bank branch in Abu Dhabi serves to further strengthen the economic ties between Germany and the UAE, and added that the expansion
decision demonstrates to the world “the diverse opportunities the UAE presents, not only locally, but regionally and globally as well. It also underlines the robustness of the UAE economy, vitality of its different sectors and its ability to respond to regional and global crises and challenges.”

H.E. Sultan Bin Nasser Al Suwaidi, said “􀋱We welcome the presence of a distinguished financial institution such as Deutsche Bank in Abu Dhabi, and we anticipate that they will play a central role in servicing the local market and the regional and international institutions operating in the UAE. The opening of Deutsche Bank’s branch will add momentum to the banking sector in the country and enrich it further.“

Werner Steinmüller emphasized the strategic importance of the Middle East region to Deutsche Bank, especially the Bank’s regional hub in the UAE.

“Our expansion and continued growth in the UAE is a testament to our unwavering commitment to the region, and is part of a strategic vision that has long recognized the Middle East as an important part of the global economy and financial sector. We are proud of the contribution we have made in the UAE to date, and we look forward to further assisting our clients in the region with their financial needs. The opening of the Abu Dhabi branch is a further significant step in the expansion of GTB. With the recent opening of new branches in the Ukraine, in China and now in the UAE we have significantly expanded our global footprint in commercial banking over the past two years.”

The new branch complements Deutsche Bank’s existing network in the UAE, which includes a branch within the Dubai International Financial Centre, and an on-shore branch, Deutsche Securities & Services. Deutsche Bank first established a presence in the UAE in 1999, with the opening of a representative office in Abu Dhabi. Henry Azzam, Deutsche Bank’s CEO for the Middle East North Africa region, said “The UAE is our regional hub, and we will continue to invest in our growth here, as we further develop our presence as one of the largest foreign investment banks in the UAE and the region. We have acted upon the needs of our clients both locally and globally over the past five years, delivering the products they require in order to grow their own businesses. Through our Abu Dhabi branch, we will bring Deutsche Bank’s expertise and global reach to our clients in the UAE, and offer them best-in-class platforms to support their current and future business needs.”

Initially Global Transaction Banking focused, the new branch will offer traditional commercial banking services such as international trade finance solutions, and cash management & treasury solutions, including taking non-retail deposits in a number of GCC and international currencies. In 2008, Deutsche Bank had received the authorization of the Central Bank of the UAE to conduct wholesale banking through the on-shore branch, which would allow it to take institutional deposits and offer loans and advances to corporate entities, government and semigovernment institutions.

Deutsche Bank also provides custody services on the Dubai Financial Market and the Abu Dhabi Stock Exchange as well as being the first bank to provide registrar services within the UAE. Deutsche Bank is recognized as being the market leader in the administration of internationally issued Islamic products, is a key partner for the banks in the region for cash and trade finance business and provides a best in class multi asset class fund administration platform.
Deutsche Bank
Dana Budeiri
Head of Communications
Middle East & North Africa
Tel: +971 4 361 1744
Mobile: +971 50 640 3924

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 77,056 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
#]

[Deutsche Bank]

publié le 14 July 2010

DFM welcomes trading of NASDAQ Dubai securities through its trading platform

[# Dubai Financial Market (DFM) welcomed today the commencement of the outsourcing agreement with NASDAQ Dubai, in which the trading, clearing, settlement and custody of NASDAQ Dubai securities will operate through the trading platform of DFM, the majority shareholder of NASDAQ Dubai, as of Sunday July 11th 2010. #]

[#[#Following DFM’s announcement in December 2009 of its intention to fully acquire NASDAQ Dubai, by May 2010, DFM (PJSC) completed the acquisition of two thirds of the shares of NASDAQ Dubai from Borse Dubai and NASDAQ OMX, the international exchange group. While working in parallel with the completion of the consolidation, DFM (PJSC) will acquire the remaining third in due course. The successful completion of the outsourcing agreement marks a major development in the consolidation process between the two exchanges.

Under the new arrangements, investors will be entitled to trade on both exchanges using one Investor Number (IN). Investors who do not have an Investor Number from DFM can apply to the exchange for their number free of charge.

NASDAQ Dubai securities will be quoted, traded, cleared and settled in US Dollars. DFM trading hours from 10.00 AM to 2.00 PM will be applied to the trading of these securities. Trading in NASDAQ Dubai securities can be executed through 11 common brokers who are licensed by the regulators of both exchanges. Additionally, settlement at DFM and NASDAQ Dubai is handled by 4 banks, of which 2 are common members.

Trades of NASDAQ Dubai securities will be settled as per DFM’s settlement cycle T+2, instead of T+3.

Essa Kazim, Managing Director and Chief Executive Officer of DFM, said: “Today’s commencement of outsourcing is a major step for DFM, Dubai and the region. We are confident that the increased links and consolidation between the two exchanges will benefit all partners and participants including issuers, investors and brokers. The trading of NASDAQ Dubai securities through the DFM platform not only provides investors with a wider array of product offerings, it also enables DFM’s solid base of over 567,000 investors to trade in these securities, both of which will further enhance liquidity and activity on NASDAQ Dubai.”

“Undoubtedly, the outsourcing of trading, clearing, settlement and custody of NASDAQ Dubai securities is a key milestone in the consolidation between the two exchanges and offers a wealth of practical benefits for various participants. We are grateful for all our members and participants’ efforts who have worked closely with DFM and NASDAQ Dubai to achieve a successful migration. This key development moves us much closer to the completion of the consolidation which will ultimately drive the expansion of Dubai as a centre of capital markets dynamism and innovation.”#]

- Ends-

About Dubai Financial Market: Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company. Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited.#]

publié le 2 June 2010

Discover the Secrets of Royal Indian Kitchens with Cookery Classes at the Holiday Inn Dubai - Al Barsha

Press release

[#Chef Shaukat Ali Qureshi from the Indian restaurant ‘Gharana’ at the Holiday Inn Dubai – Al Barsha, and culinary expert Obeda Oturkar will conduct two-day courses each for Punjab, Lucknow, Jaipur and Hyderabad styles of cooking.
#]

[#Each course, spread over 2 days, includes one starter, a main course, a side dish as well as a rice dish, Indian bread and dessert. Punjab classes will be on June 7th & 9th and Lucknow on 14th and 16th from 11am to 1pm.

Those who cannot attend on a weekday can join the weekend classes on June 12th and 19th or June 26th and July 3rd. The total cost for two classes and the lunch is AED 450.

Mr Reda Moukhtar, General Manager, Holiday Inn Dubai – Al Barsha says, “Guests of all skill levels are invited into our fine dining signature Indian restaurant ‘Gharana’ to learn authentic techniques and recipes, and to feast on a multicourse meal. The classes are hands-on, informative, interactive and fun. Students will learn to prepare flavorful, authentic Indian dishes that are rooted in India’s age-old culinary traditions yet adapted to today’s kitchen and lifestyle.”

Chef Shaukat Ali Qureshi who comes from the legendary Qureshi clan. Being the royal chefs, the 200-year-old Qureshi family prides itself as the guardian of the rich legacy of Nawabi cuisine. Chef Qureshi has perfected the art of cooking like no other in his 40 years of career. The food at Gharana is certainly a proof of that and reveals a real mastery of flavour and texture.

A great atmosphere, great food and great time are assured. You will be provided a vast overview of many traditional styles of Indian cooking, while Abda recounts great stories, giving cultural information, and other anecdotes about Indian culture.

Born and brought up in Mumbai, Abda’s’s interest with different natural foods and their unique benefits lead her to read Naturopathy, Ayurveda and today she is a self taught culinary expert who passionately does Spice & Aroma Cookery. With her energy and creativity, she has taught hundreds of students through her multi-class series. Abda says, “My journey so far has been quite satisfying as many homes have turned to ‘healthy’ alternatives based on my advice.”

“Watching Abda effortlessly prepare delicious meals in our kitchen is a bit like watching a magician pull a rabbit out of a hat. The difference is that with her, you learn the tips and tricks of the process to replicate in your own home,” says Mr Moukhtar

Holiday Inn Dubai – Al Barsha provides a modern and comfortable environment for a relaxed Dubai stay. The hotel is conveniently located on Dubai’s main thoroughfare Sheikh Zayed Road, approximately 20 minutes from Dubai International Airport and 45 minutes from Abu Dhabi Airport. All its 310 rooms are beautifully appointed and equipped with the latest facilities keeping in mind your comforts and needs. The hotel presents a wide variety of conference venues – from small to large, all equipped with state-of the-art technology. Completing the full Holiday Inn experience are fabulous dining outlets, buzzing bars, outstanding banqueting facilities and impeccable service.

Learn the basics of Indian spices, carefully balanced and adapted to today’s kitchen. You will be able to build upon your foundation of spices and techniques. So, embark on a journey to the rich cuisine of the Maharajas! The best part is you do not have dishes to clean afterwards.
#]


For more information please visit: www.holidayinn.com or www.hialbarshadubai.com
For reservations please call Kezia De Rocha on 050-4683746 or kezia@hialbarsha.com


For media contact:
Hina Bakht
Vice President
MPJ (Marketing Pro-Junction)
Mob: 050 697 5146
h.bakht@mpj-pr.com
www.mpj-pr.com

publié le 27 May 2014

DK Ambassador Unveils The Arabian Fashion Week, a New Experience Within France Talents for the Women Coming From Middle East

On 13 June, the first Arabian Fashion Week will be opened in the VIP lounge of the Sofitel Paris Arc de Triomphe 5 stars hotel. This is a grande première. This event is based on a simple idea: allow the women from Middle East to discover the best creators of France from inside. This luxury trip will be soon experienced by a cohort of 20 privileged women : they will for example meet a perfumer, discover a new collection, taste macaroons and enjoy other surprises in company with their host, DK
Ambassador. Major French brands applause the concept and apply for joining in in this adventure "Made in France ".

Djamila and Houssem KERDOUN are the Founders of DK Ambassador. Proud of their French heritage and their Mediterranean roots, they constantly invent events and services to develop new networks of trade, talents and expertise mainly by working with exceptional partners sharing their values. On the occasion of the Marhaba France Fair in Dubai on 2 and 3 May , Djamila said: " I dream to show the marvels of my country , to be the ambassador of our talents and , dear ladies, welcome you
with a white rose. This is for you I created the Arabian Fashion Week and share my dream. "

About DK Ambassador :

DK Ambassador is a French company founded in 2013 by Djamila and Houssem Kerdoun. They extend their entrepreneurial adventure started in luxury transportation based on one ambition: to offer the best of France to a demanding clientele from the Middle East. DK Ambassador offers a range of services to business and family high end travellers. For more information, please visit www.dkambassador.com site.

Press Contact:
Djamila Kerdoun
+33 (0).6.68.64.25.21
contact@dkambassador.com

publié le 21 September 2013

DMCC becomes UAE’s largest Free Zone

press release

The Dubai Multi Commodities Centre (’ DMCC ’) Free Zone is now the UAE’s largest Free Zone with over 7,330 active registrations. With an average of 200 companies choosing to join DMCC each month and a 94% retention rate, DMCC also remains the UAE’s fastest growing free zone.

Ahmed Bin Sulayem, Executive Chairman, DMCC , said:

"We are now the UAE’s largest and fastest growing free zone with over 7,330 active member companies - we remain committed to further growth in order to cement Dubai as the global hub for commodities trade and enterprise.

We are well on our way to achieving our target of 10,000 companies by 2015, at which point we anticipate to be almost at capacity. Our expansion plans, including the DMCC business park and the world’s tallest commercial tower, will cater to large corporations looking to access new markets and will be the next phase in DMCC ’s and Dubai’s growth."

As the demand for commercial space within the DMCC Free Zone continues to grow, with over 74% of the development already occupied, DMCC recently announced plans to build the world’s tallest commercial tower in order to cater to this continued demand. The construction of the tower and 107,000 square metre business park will add an additional 50% of commercial space or 743,224 square metres to the existing 2.9 million square metres of built up area.

"We continue to innovate and complement key trading hubs across the globe to further support Dubai’s ambitious economic development programme. Currently, we are concentrating on serving markets along the new Silk Route and have become a strong facilitator of trade for producing countries in African and consuming nations in Asia, Asean, Europe, South America and the US", Bin Sulayem added.

Since its establishment in 2002, DMCC has welcomed a range of companies from all sectors across the globe, including: Clarkson, Louis Dreyfus, Debeers Diamdel, Conoco Phillips, Rio Tinto Alcan, LVMH, Harley Davidson and Nutricia Danone.

In terms of member demographics, a third of DMCC member companies are from South Asia, a third from the Middle East (including the UAE), and a third from Western Europe and North America respectively.

Gautam Sashittal, Chief Operating Officer, DMCC , added:

"This year, over 95% of the companies that have chosen to operate from the DMCC Free Zone are new to Dubai, which further demonstrates DMCC ’s and Dubai’s continuous appeal as a business destination where SMEs and multi-nationals alike can utilise our full-service toolkit, trade with confidence and grow their business. Due to its unique offering, strategic location, modern infrastructure and customer focus, the DMCC Free Zone enjoys a 94% retention rate."

With 65 mixed-use commercial and residential towers and over 220 retail outlets in operation, there are currently over 75,000 people working and living within Jumeirah Lakes Towers. The transformation of one of its lakes into a 55,000 square metre community park and the road networks within the development are due to be completed by the end of this year.

About The Dubai Multi Commodities Centre

The Dubai Multi Commodities Centre ( DMCC ) is a strategic initiative of the Government of Dubai, was established in 2002, with a mandate to provide the physical, market and financial infrastructure required to set up a commodities market place in Dubai. The Centre attracts key players throughout the entire value chain of a wide range of commodities sectors, together with relevant support industries such as finance, logistics and insurance. DMCC has established a robust infrastructure, including free zone status, trade networking platforms, secure vaults and purpose-built storage facilities. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including 50-year guaranteed 0% corporate and personal income tax, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment. DMCC has also implemented a dedicated compliance policy in the organisation, which is in line with the compliance related laws and regulations of the UAE Federal Government and the competent international bodies. DMCC owns three fully operational towers which host the majority of the physical, market and financial infrastructure including the Jewellery & Gemplex facility, the specialised diamond and pearl exchanges and gold vault.

publié le 8 July 2014

DMCC reaches new heights with record numbers across its trade, free zone and financial services businesses

Press release

Innovation, new product lines and record numbers in commodity businesses
• 30 per cent growth with 1,027 new companies in the first half of 2014, bringing total to almost 8,900

• DMMC Tradeflow completes 900 transaction worth a total of over $200 million

• ’Burj 2020 District’ with the world’s tallest commercial tower, ’Burj 2020’ underway
Dubai - DMCC , the largest free zone in the UAE and one of the world’s leading commodity hubs, today announced that it registered 1,027 member companies in the first six months of 2014, bringing the total number of companies operating at the DMCC Free Zone to over 8,865, a 30% increase compared to the same period in 2013.

Ahmed Bin Sulayem, Executive Chairman, DMCC , commented:
" DMCC continues to attract members at an unprecedented rate and we are proud of the ever increasing contribution to Dubai’s overall economy. By driving foreign direct investment we will ensure Dubai remains the regional and international trade and tourism hub.

"The strength of the leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai is inspiring and we will continue to do everything we can to support His Highness in fulfilling his vision for Dubai supporting, in particular, the three pillars of ’Smart Government’, the development of SMEs and helping Dubai to become the global centre for the Islamic Economy."

Gautam Sashittal, Chief Executive Officer, DMCC , said:
"At DMCC we are passionate about creating a sustainable and optimal international environment for trade and enterprise. Everything we do has a longer term strategic view in order for DMCC to stay relevant now and in the future whether it is enhancing the customer experience, innovation, diversification of our business portfolio or strengthening trading ties internationally. We embrace change and thrive on strong international competition as this is what makes the organisation dynamic, driven and nimble in an exceedingly fast moving market".
Free Zone Update
DMCC recently announced a major expansion with the building of the ’Burj 2020 District’ with the world’s tallest commercial tower, ’Burj 2020’ as its centrepiece. The ’Burj 2020 District’ is well underway with four global design firms currently participating in a Masterplan design competition with ground-breaking planned in 2015.

In addition, the DMCC is also bringing to market a 14-floor ’glass box’ style building, ’One JLT’, which is being constructed in the heart of the free zone and is due for completion in 2015. Both projects will cater to the increased demand of large multi-business and multi-national companies seeking to domicile their operations in an efficient, single-owner, commercial space.

In June, DMCC was also named by the Financial Times’ global fDi Magazine as ’Best Free Zone of the Year for SMEs - Middle East & Africa’ and ’Best Free Zone of the Year for SMEs - UAE’ in their Middle East Free Zones of the Year rankings and awards for 2014 / 2015. While today 70% of DMCC ’s free zone members are SMEs, the Free Zone is also home to multi-nationals such as American Express, Diamdel (DeBeers), Glencore Xstrata, Harley Davidson, Louis Dreyfus, LVMH, Nutricia Danone and Rio Tinto Alcan.
The Free Zone also launched its ’ DMCC Member Portal’ in May, making all free zone services available online. This initiative is also part of DMCC ’s strategy to further support His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai’s Smart Government initiative. The ’ DMCC Member Portal’ powered by Salesforce, is completely transforming the customer service experience when setting up a new business or renewing licences, as it enables members to request multiple services online from any device at any time.

Commodities and Financial Services Update
Continued strong commodity trading in Dubai has further cemented the Emirate’s position as a major global trading hub.

The value of gold passing through Dubai in 2013 increased to US$ 75 billion from US$ 70 billion in 2012, making it the global bullion hub with 40% of the world’s physical gold now passing through the Emirate.

In the first five months of the year, trade volumes of rough diamonds increased by 13% to 63 million carats. The Dubai Diamond Exchange (DDE), a DMCC platform, hosted the first tender of Zimbabwe rough diamonds held in Dubai in March, demonstrating a trend of commodities reaching buyers directly from mines via tender and auction processes. The Dubai Diamond Exchange (DDE) hosted a further 11 diamond tenders featuring polished and rough diamonds to date (30 June). Rough diamond tenders included goods from most major producing countries: Zimbabwe, Angola, South Africa, Guyana, Russia and DRC.

In the DMCC Tea Centre, a record quantity of throughput, facilitation and value-addition services in H1 2014 (20m kgs) compared to H1 2013 (7.5m kgs), was perfectly paired with new innovative solutions and product lines. New trade finance mechanisms now allow growers from around the world to take advantage of the option of collateralisation of their stocks for working capital, while market offering in terms variety of tea products has increased following DMCC Tea Centre’s recent strategic joint venture with the leading German tea company Hälssen & Lyon to offer a wider range of specialty and flavour teas as well as fruit and herbal infusions.

DMCC ’s commodity trade facilitation activities were also supported by numerous signature events.

In March 2014, DMCC and the GJEPC hosted the Global Gem and Jewellery Fair (GGJF), a B2B platform, for the first time in Dubai. The fair attracted a record 131 exhibitors from India and Dubai and was visited by more than 1,600 industry participants from across the globe.

April saw DMCC ’s 5th Global Dubai Tea Forum 2014 (GDTF), with over 400 delegates from 31 different tea producing and consuming countries putting the focus firmly on the challenges and opportunities that comes with tea’s ranking as the world’s most popular drink after water.

DMCC also hosted the third global Dubai Precious Metals Conference (DPMC) in April with a record attendance of over 500 international delegates. Key topics on the agenda ranged from ’Engaging with Africa’ to ’Jewellery consumption moving East; to ’Leveraging Dubai’s position as the global hub for commodities trade’. The DPMC is now firmly established as the annual global conference for the precious metals industry.

DMCC continues to innovate and progress in responsible supply chain management for gold and other precious metals in order to promote an inclusive and compliant marketplace. In addition to the 5-step DMCC Practical Guidance and the Dubai Good Delivery (DGD) standard, DMCC introduced two new accreditation programmes in January 2014 known as the Market Deliverable Brand (MDB) and the Responsible Market Participant (RMP).

The Dubai Gold and Commodities Exchange (DGCX) continued its innovation, further consolidating its profile as one of the most important exchanges in a region extending from Africa to Asia. In February 2014, DGCX collaborated with the Dalian Commodity Exchange (DCE) to launch their respective polypropylene futures contracts concurrently. The DGCX traded 5.75 million contracts, valued at US$ 172 billion. The exchange also received the MENA Forex Awards: Best Derivatives Exchange 2014 in June 2014.

Continuing its efforts to support Islamic finance in the commodities space, DMCC Tradeflow, the online exchange for physical commodities in the UAE, handled over 900 Commodity Murabaha transactions within the first 6 months of 2014, with a total value of over US$ 200 million. In January 2014, UAE’s Minister of Economy, His Excellency Sultan Bin Saeed Al Mansoori, presented Ahmed Bin Sulayem, Executive Chairman of DMCC , with the Outstanding Contribution to Islamic Finance Award at the annual Mena Fund Manager Fund Service ceremony. Bin Sulayem in turn dedicated the award to His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai.

Trade Missions and International Relations
As part of DMCC ’s ongoing drive to look for ways to facilitate and cater to the needs of traders and investors in an ever-changing economy, a series of international meetings and events took place during the first half of 2014.

Ahmed Bin Sulayem, Executive Chairman, DMCC , took part in trade delegation visits to Canada’s Toronto and Vancouver, the latter more specifically for the Globe 2014 International Forum on Business and the Environment at the Vancouver Convention Centre in March. A visit to Italy also resulted in DMCC being invited to take part in the Vicenzaoro Dubai April 2015 as a strategic partner, the event will be hosted at the World Trade Centre. Bin Sulayem also travelled to Ecuador, Colombia and Mexico to further strengthen trading relations between Dubai and Latin America. In June, DMCC also hosted its 4th annual London dinner, which brought together over 100 guests and dignitaries.

DMCC Free Zone Infrastructure and Community Update
The Jumeirah Lakes Towers road networks were completed ahead of schedule in January.

DMCC also opened the 55,000 sq/m JLT Community Park in January making it the largest park of its kind in New Dubai and greatly enhancing the work and live element in the community. DMCC will continue to explore the addition of new amenities across the 200-hectar development in line with community demand.

Leading by example Concordia, a DMCC joint venture and master community agent of Jumeirah Lakes Towers, is implementing a centralised security management system for the entire DMCC Free Zone. Concordia also recorded strong growth with a 32% revenue increase compared with the same period last year and delivered a 100% contract retention rate.

Brand Update
The exponential growth seen during H1 2014 across the DMCC business is underpinned by its ’One Brand Strategy’ which launched in February 2014 with the tagline ’ DMCC - Made for Trade. This has helped create greater clarity for its customers and members. DMCC has since transitioned away from its previous JLT sub-brands with all platforms now represented under one ’ DMCC ’ brand umbrella including entities such as the DMCC Free Zone and the DMCC Tea Centre.

About DMCC - MADE FOR TRADE

Businesses around the globe look for a place where they can expand, access new markets and conduct their day-to-day operations in a secure, transparent and modern environment. DMCC provides this infrastructure with its existing 66 mixed-use commercial and residential towers and over 220 retail outlets in operation. With an average of 200 companies choosing to join DMCC each month and a 94% retention rate, DMCC remains the UAE’s largest and fastest growing free zone with over 8,800 member companies. www.dmcc.ae

publié le 28 May 2012

Doha fashion divas collaborate

[# Boutique Dados is proud to announce its first collaboration with fashion and image diva Maisa Taha to present a truly unique fashion event at Dados Boutique, The Pearl Island Qatar.#]

[#
Combining their passion for fashion, La Vedette Fashion and Image Consulting owner Maisa Taha and Dados Boutique and Beauty co-owner Heba Al-Okar helped Dados clients decide what’s hip, what’s hot and what’s now and above all what suits each of their personality and body shape!

Mixing and matching items from Dados Boutique’s new summer collections, Maisa Taha provided expert personal image advice to help the women of Qatar make their very own personal style statement – funky to classy, sassy and cool, hot and sultry, and everything in between.

Unabashedly glamorous, precious and playful, the entire Dados Boutique experience is a natural extension of co-founder Heba Al Okar’s philosophy to stock only exclusive, one-of-a-kind amazing item.
Distancing themselves from mass commercial fashion, Dados Boutique presents a fashion oasis focused on the incredible couture quality of its clothes.

“DADOS BOUTIQUE offers a style experience you will respect forever; the hippest international designers, fashions that mark a place in your heart from Rutzou, Kage, Tube Gallery, Les Nereides, Falamank, Lei Van Kash and other select style brands,” observed Heba Al-Okar.
Maisa Taha is one of Qatar fashion’s driving forces. An unparalleled eye, she is shaping the way women in Qatar see fashion, championing the importance of image as a way of life.
Maisa Taha’s La Vedette concept offered Dados Boutique clients its full range of consultancy on hair colour and style analysis, make-up consultations, wardrobe analysis & management, personal shopping, makeovers and image consulting.
All are supervised by experienced makeup artists, hairdressers, and stylists to ensure the needs of each individual are the priority.
“I am excited by this collaboration: this was the first time Dados Boutique collaborated with an Image Consultant to help women look and feel their best in every social or professional situation. This is the sign of an important fashion evolution and I am thrilled to be part of it,” confessed Maisa Taha.

Driven by her enthusiasm for style and passion for beauty, Maisa Taha earned diplomas in fashion, makeup and image consulting, as well as being the official Association of Image Consultants International Ambassador for Qatar.

“La Vedette Fashion and Image consulting helps private clients to develop strong first impressions, inner confidence and the fresh look and feel they truly deserve, with the highest levels of exclusivity and personalized treatment.”

DADOS BOUTIQUE: The Pearl-Qatar 3. Open Sat - Thu 10:00 - 21:00 and Friday 16:00 to 21:00. Telephone (+974) 4498 0033#]

publié le 26 April 2014

Doha Metro: First TBM ‘Lebretha’ Arrives on Time

press release

Qatar Railways Company (Qatar Rail), the company overseeing the construction of the integrated railway network, has taken delivery of the first of 21 tunnel boring machines (TBMs).

TBM S-865, also known as ‘Lebretha’ was manufactured by Germany’s Herrenknecht, and is the first of four TBMs which will be launched for the Doha Metro as part of the Red Line North Underground project – the design and build (D&B) joint venture that is being led by Italy’s Salini Impregilo, with South Korea’s S. K. Engineering & Construction Co. Ltd, and Galfar Al Misnad Engineering & Contracting W.L.L. (ISG JV).
For the Red Line North Underground project, a total of four TBMs (named Lebretha, Al Khor, Al Mayeda and Al Bidda) are proposed to bore the required rail tunnels.
TBM Lebretha will be assembled and launched from the Al Wahda site towards West Bay Central. At West Bay Central it will be disassembled and re-assembled at Al Wahda and then travel towards Doha Golf Course. It will bore the West Tunnel of the Drive while TBM Al Khor will bore the East Tunnel when it arrives.
TBM Lebretha will travel a distance of approx. 7.954 km and will take approx. 22 months to complete – between Q3 2014 to Q2 2016). The average speed will be between 14m/day to 21 m/day, depending on ground conditions. And its daily excavation quantity will be approx. 680m³, with a predicted total excavation quantity of 5,408,720m³.
Each of the TBMs for the Doha Metro measure 7.05m in diameter and 120m in length, therefore to ensure transportation was successfully managed, TBM Lebretha was dismantled into 22 sections which were easier to transport including the cutter head.
It commenced its journey, by sea, to Qatar and finally arrived over the weekend at the Doha Port. Some residents may have seen the sections of TBM Lebretha travelling along Al Corniche earlier this week making their way from the Doha Port to the first launch site of Al Wahda, next to the Qatar Exhibition Centre.
Qatar Rail extends its appreciation and special thanks to Qatar Rail team working on the Red Line North project, and also to the Doha Port team that unloaded the sections; the Customs Department for their quick response in clearing all necessary formalities; and to the Civil Defense which safely escorted the sections to the Al Wahda construction site.
All these organizations worked in collaboration to ensure the success of the project, which is in line with all the major pillars of the Qatar National Vision 2030.
It will take a few months to re-assemble TBM Lebretha into a complete machine and Qatar Rail will provide regular updates in the newspapers and on our corporate website – www.qr.com.qa – on the progress and everytime we receive delivery of a new TBM.
The scope of work for the ISG JV on the Red Line North project comprises the design and construction of approx. 13.4km twin-bored tunnel, including seven underground stations, between the proposed Msheireb Underground Station and Doha Golf Course via Doha West Bay. The tunnels will be built at an average depth of approx. 20 meters below ground.
The arrival of a further 20 TBMs will be seen over the coming months, to be utilised not only by the Red Line North Project but also by 3 more projects:
• Red Line South – led by QDVC and comprising G. S. Engineering and Construction and Al Darwish Engineering – will receive 5 TBMs.
• Green Line – led by PORR and comprising Saudi Bin Laden Group and Hamad bin Khaled Contracting – will receive 6 TBMs.
• Gold Line – recently awarded to a D&B JV led by Aktor SA and comprising Larsen and Toubro (L&T), Yapi Merkezi Insaat ve Sanayi Anonim Sirketi (Yapi Merkezi), Sezai Turkes Feyzi Akkaya Marine Construction (STFA) and Al Jaber Engineering – will receive 6 TBMs.
All of the Joint Ventures delivering the D&B contracts for Qatar Rail include Qatari companies and have all been selected upon completion of a successful competitive bidding.

publié le 7 June 2016

Dr Mohammed Nasser Al Qahtani, Deputy CEO of Al Meera named the Businessman of the year

press release

In its second edition, Qatar Today Business Excellence Awards (QTBEA) brought together the top businessmen and dignitaries in the country to celebrate the resilience of Qatar’s economy, honoring Dr. Mohammed Nasser Al Qahtani, DCEO of Al Meera consumer goods company (Q.S.C) as the businessman of the year.

Dr. Al-Qahtani deserved this recognition, as a prominent Qatari Businessman, following the astonishing financial results and significant profits made by Al Meera, and the opening of several new branches as well as the renewal and revamping of existing ones, not to forget reaching new heights on the Qatar stock exchange.
Among the most prominent achievements since Dr. Al-Qahtani joined Al Meera in 2011 is the great expansion with a leap growth in sales that same year that has exceeded by one billion QR . That same year, Al Meera acquired Qatar Markets Company W.L.L.’s (Giant Stores) and Al Oumara Bakery, which provided five new sale outlets in different areas totaling 15,000 square meters. These acquired businesses contributed 208 million QR and 10.3 million QR in sales and net profit respectively, and this had a positive impact on the company’s share, which maintained its value on the Qatar stock exchange.
Moreover, Al Meera continued in 2012 its steady growth in addition to the buying of 5 stores in oman with the its Omani partner, National Investment fund Company (NIFCO), reaching a total of 29 branches in Qatar and 5 other in Oman. Additionally, during this year, Al Meera bought the franchise right to WHsmith, which was set for inauguration at the Ezdan mall, Nuaija Mall and Hyatt plaza.

The year of 2013 was recognized by the opening of two new state of the art neighbourhood malls in Nuaija and Legtaifiya. In addition, Al Meera brought easy shopping to the communities in Beverly Hills 3 and Barwa Messaimeer. Al Meera took its chain of operations a step further that year by bringing the first Géant Hypermarket to Qatar as a result of transforming its Giant Stores at the Hyatt plaza, and turning it into a renowned international name. By the end of the 2013 financial year, group sales were up by 29.4% to 1.946 billion QR

While in 2014, Al Meera completed the construction of the 9 new, modern community shopping malls in Qatar, while also revamping and renovating it’s already existing stores.

Not to forget, in 2015, the company opened 10 branches new branches that were equipped with state-of-the-art elements.

Currently, Al Meera is working on following up on its plan to establish 14 new branches in various regions of the country, as it has already started the works at five shopping centers last year in each of North Sailiya (Al Miarad), Leabaib 2, Al Wakra (West), Umm Salal Ali, and Bu Sidra, which are expected to be delivered within the next three months. In addition, The Company had recently awarded contracts to Al Khayarin Group Contracting and Trading and Al Muftah Contracting Company, to build six new stores in the coming period with a total contract value of QR 238,730,146. The company also signed a Memorandum of Understanding (MOU) for the operation and management of two shopping centers, in Fox Hills North and North Residential Villas districts in Lusail City.
Furthermore, Al Meera’s expansion plans also include the opening of new branches to serve students at Qatar Foundation for Education, Science and Community Development, where contracts were recently signed for the operation of two spaces at student housings (around 80 square meters each), and a space at the Students Center in Education City (approximately 150 square meters).
Dr. Mohammed Al-Qahtani business man of the year, has been responsible for elevating Al Meera, making it one of the fastest growing companies in Qatar. Dr Al-Qahtani did this through the implementation of the state’s economic and social strategies inspired by the QNV 2030 by building a strategic expansion plan in Qatar during the previous few years. Through these developments he established Al Meera as “Your Favourite Neighbourhood Retailer”, a chain that abides by the highest international standards not only meeting the consumer requirements but also gaining their complete satisfaction.

Dr. Al-Qahtani is currently Al Meera’s Deputy CEO, previously elected as Dalala Holding’s chairman, with a bachelor’s degree in law from Oman. He joined the oil and gas sector for 10 year by joining Qatar Gas, where he also got his masters in commercial law from the university new castle In the UK graduating with honors. He went on to receive a scholarship from the ministry of education for his PHD in international commercial law from Durham University, and returned back to joining the commercial sector being with Al Meera Consumer Goods Company, and a board member at Widam Food.

publié le 15 February 2009

DTCM AND CHINESE OFFICIALS DISCUSS GROWTH OPPORTUNITIES

[#Officials of Dubai Department of Tourism and Commerce Marketing (DTCM) met a high-level official delegation from the Chinese city of Dalian which was in the emirate to explore growth opportunities in various sectors, including tourism.

The delegation from the business capital of northeast China was headed by Mr. Xiao jing Zhang, Director General of the Economic and Trade Bureau of Dalian Development Area. The other members were Ms. Wang Yanhui, Deputy Director General of Dalian Development Area, Dalian Export Zone, Mr. Zhang Shikun, Director of Dalian Development Area and Mr. Lu Sheng, Director of Trade and Technical Development Bureau.

DTCM Executive Director Operations and Marketing, Mr. Mohammed Khamis bin Hareb, chaired the meeting which was also attended by Mr. Hamad bin Mejren, DTCM Executive Director of Business Tourism, and Mr. Salah Al Ansari, DTCM Director of Visitors Information Bureaus.

The meeting discussed the possibilities of marketing both cities mutually as tourist destinations as well as other business opportunities.

Mr. bin Hareb briefed the visiting delegation about various initiatives of Dubai in general and DTCM in particular, including the opening of three DTCM representative offices in the China last year.

NOTE TO EDITORS:

DTCM is the principal authority for the development of tourism in Dubai, one of the world’s most popular destinations. Established in 1997, it is the sole licensing body for the hotel establishments and tourism-related businesses. Its supervisory role covers heritage sites, cruise terminal and convention bureau. DTCM has 18 overseas offices, including three in China and two in Saudi Arabia.
www.dubaitourism.ae

<http://www.dubaitourism.ae/>

#]


Mohamed Abdul Mannan
Department of Tourism
and Commerce Marketing
Tel. + 971 4 223 00 00 Fax: +971 4 223 00 22
P. O. Box 594, Dubai, U.A.E.
Website: www.dubaitourism.ae

publié le 28 March 2009

DTCM DISCUSS NEW INITIATIVES TO PROMOTE DUBAI TOURISM

INITIATIVES AIMED AT ENSURING DUBAI TOURISM INDUSTRY’S COMPETITIVENESS

[#As part of its continued efforts to market Dubai as a leading leisure and business destination and maintain tourism industry’s market competitiveness, the Dubai Department of Tourism and Commerce Marketing (DTCM) discussed with key tourism industry representatives a number of new initiatives to promote Dubai across the world.#]

[#Held at the DTCM Head Office, the meeting was chaired by the DTCM Director General, Mr. Khalid A bin Sulayem, and attended by Mr. Mohammed Khamis bin Hareb, DTCM Executive Director for Operations and Marketing, and Mr. Eyad Ali Abdul Rahman, DTCM Executive Director Media Relations and Acting Director Business Development. It was attended by representatives from the hotels and tourism companies.
The meeting reviewed the global tourism industry market trends and a number of new initiatives aimed at attracting more visitors to Dubai from across the world, especially the Arabian Gulf Cooperation Council (AGCC) states, and boosting hotel occupancies which remained during the months of January and February this year.#]

[#Mr. bin Sulayem said the new initiatives over the remainder of the year will help generate even better levels of hotel occupancies and help draw more tourists from different parts of the world.During the meeting, it was agreed that the hoteliers will offer best rates and holiday packages to the visitors, especially during the summer months, details of which will be announced in due course.The high occupancy levels recorded by hotels since the start of this year has prompted the DTCM and its tourism industry partners to come out with new initiatives to capitalize on the encouraging market scene.#]

[#Dubai retained its strong position with its hotels posting all-time high record revenues of AED15.25 billion and a double-digit increase in room inventory in 2008, one of the most economically-challenging times for the global tourism industry.Dubai hotel establishments played a host to 6,996,449 guests in 2008, up from 6,951,798 visitors in the previous year. In 2004, Dubai hotels received 5.4 million guests followed by 6.16 million in 2005.The slight increase in guest numbers enabled Dubai hotels and hotel apartment posting AED15.25 billion in revenues, an impressive increase of 15 per cent over the previous year.#]

[#In the year 2007, the revenues were to the tune of AED13.26 billion on the back of a 22.4 per cent growth.A 15.9 per cent increase was also recorded in the number of hotel rooms and hotel apartments, which stood at 49,598. In 2007, the number of hotel rooms and hotel apartments were 42,807 after a 4.8 per cent growth over the previous year.The tourism and hotel sectors directly contribute 19 per cent to Dubai’s GDP, while their indirect contribution to GDP stands at 32 per cent in 2008. In the last week of February, the average occupancy of five-star beach hotels was 95 per cent with the average room rate for the five-star hotel being AED1239.#]

[#A three-month familiarization programme -Keep Discovering Dubai- targeting 2000 tour operators, MICE agents and Media representatives had been launched by DTCM in cooperation with Emirates Airlines and other key players of Dubai’s tourism industry to provide them a hands-on experience of Dubai.#]

NOTE TO EDITORS:

DTCM is the principal authority for the development of tourism in Dubai, one of the world’s most popular destinations. Established in 1997, it is the sole licensing body for the hotel establishments and tourism-related businesses. Its supervisory role covers heritage sites, cruise terminal and convention bureau. DTCM has 18 overseas offices, including three in China and two in Saudi Arabia.
www.dubaitourism.ae

<http://www.dubaitourism.ae/>

#]


Mohamed Abdul Mannan
Department of Tourism
and Commerce Marketing
Tel. + 971 4 223 00 00 Fax: +971 4 223 00 22
P. O. Box 594, Dubai, U.A.E.
Website: www.dubaitourism.ae

publié le 22 February 2009

DTCM HOLDS JOINT MEETING OF HOTELS AND TOURISM COMPANIES

[#The Dubai Department of Tourism and Commerce Marketing (DTCM) organized a joint meeting of Hotel and Hotel Apartment Group and Travel and Tourism Group at the Jumeirah Emirates Tower Hotel to discuss a wide range of issues relating to the emirate’s tourism industry.

The meeting was chaired by DTCM Director General Mr. Khalid A bin Sulayem and attended by senior officials from DTCM and Roads and Transport Authority (RTA) and Department of Civil Aviation (DCA) in addition to representatives from the two groups.

The meeting discussed issues relating to the tourism industry in the emirate and ways to strengthen the industry and better coordination among various government organizations to attract more visitors to the emirate.

The meeting discussed ’Rediscover Dubai’ programme that will be jointly conducted soon by DTCM and Emirates Airlines in association with hotels and tour operators. The familiarization programme will bring 2000 tour operators and media representatives from various parts of the world and help the efforts to promote Dubai in established and emerging tourism outsource markets.

The meeting also discussed various promotional and marketing campaigns that DTCM is taking in certain markets.

The RTA officials - Mr. Nasser bu Shahab and Mr. Abdul Malik Ibrahim- briefed the participants about various projects and initiatives of the authority and answered queries raised by them.

DCA official, Ms. Hannan Al Mazim, briefed the participations about various programmes and responded to queries concerning a variety of issues relating to the tourism industry.#]

NOTE TO EDITORS:

DTCM is the principal authority for the development of tourism in Dubai, one of the world’s most popular destinations. Established in 1997, it is the sole licensing body for the hotel establishments and tourism-related businesses. Its supervisory role covers heritage sites, cruise terminal and convention bureau. DTCM has 18 overseas offices, including three in China and two in Saudi Arabia.
www.dubaitourism.ae

<http://www.dubaitourism.ae/>

#]


Mohamed Abdul Mannan
Department of Tourism
and Commerce Marketing
Tel. + 971 4 223 00 00 Fax: +971 4 223 00 22
P. O. Box 594, Dubai, U.A.E.
Website: www.dubaitourism.ae

publié le 2 May 2009

DTCM PUTS UP BIG STAND TO SHOWCASE DUBAI AT ARABIAN TRAVEL MARKET

[#132 CO-PARTICPANTS JOIN DTCM TO SHARE 1152 SQUARE METRE STAND DSF-DSS, DNRD, DUBAI POLICE, RTA & DCB AMONG CO-PARTICIPANTS
DTCM BRINGS 172 HOSTED BUYERS FOR WORLD’S THIRD BIGGEST TOURISM FAIR.#]

[#
With a stand measuring 1152 square metres, 74 booths and 132 co-participants from public and private sectors, the Dubai Department of Tourism and Commerce Marketing (DTCM) will be making a spectacular showing at the 16th edition of the Arabian Travel Market (ATM) at the Dubai International Convention and Exhibition Centre (DICEC) from May 5 to 8.

Dubai Stand (UAE 2500) will be located in Hall 3 of DICEC. The first three days will be exclusively for the travel and tourism industry professionals, while the concluding day will be for general public, according to the ATM organisers, Reed Travel Exhibitions.

ATM-2009 will see the participation of 2229 companies from 60 countries.

The world’s third biggest travel and tourism fair is being held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, and the auspices of the DTCM.

The department convened a meeting of the co-participants on April 29 at Al Bustan Rotana Hotel to brief their representatives about the highlights of this year’s annual show, DTCM initiatives and the business and networking opportunities that would be available at the show during its four day run.

It was addressed by the DTCM Director Overseas Promotions, Mr. Saleh Mohammed Al Geziry, Mr. Talal Al Suwaidi, Head of Region India, Middle East & Southern / Eastern Africa at DTCM’s Overseas Promotions and Ms.Nadege Noblet, Regional Account Manager-Middle East & North Africa at Reed Travel Exhibitions.

Mr. Al Geziry thanked the government and private sector organizations for their overwhelming support to the DTCM to create a strong presence for Dubai at the ATM-2009 being held against the backdrop of global economic slowdown and one of the most-challenging operating landscapes for the tourism industry.

He said: "Dubai Stand size has increased to 1152 square metres this year from last year’s 1080, while there is a 28 per cent increase in the number of Hosted Buyers that DTCM is bringing this year for the co-participants."

He briefed the gathering about the DTCM’s promotional and marketing initiatives and the highlights of the Dubai Stand at the ATM-2009, including the hosting of 172 Hosted Buyers by the department this year, 28 per cent more than the previous edition.

Dubai Stand will be appealing to the visitors through a variety of attractions, including an Arabic Calligraphy Art Gallery and photo galleries on Events in Dubai and Old and New Dubai. A separate section will feature the international awards that DTCM won in 2008 and 2009.

A Heritage Corner will be another highlight at the Dubai Stand, which is expected to be a big draw for nearly 20,000 trade visitors and consumers projected to attending this year’s event.

Representatives from each of the DTCM’s 18 Overseas Representation Offices will also be on hand to support the Dubai co-participants on the matters pertaining to their respective markets.

The department has published a booklet offering details about its co-participants and contact details.

The IT department of DTCM will be showcasing the online services provided to the industry, while the Events organized in Dubai will be highlighted by the DTCM Events. DTCM’s Business Development will be promoting Go Green Dubai Tourism initiative. Dubai Convention Bureau will be promoting the emirate’s Meetings, Incentives, Conferences and Exhibitions (MICE) industry and DTCM’s One Stop Information Centre (OSIC) will be on hand to explain its services rendered to the industry and general public.#]

NOTE TO EDITORS:

DTCM is the principal authority for the development of tourism in Dubai, one of the world’s most popular destinations. Established in 1997, it is the sole licensing body for the hotel establishments and tourism-related businesses. Its supervisory role covers heritage sites, cruise terminal and convention bureau. DTCM has 18 overseas offices, including three in China and two in Saudi Arabia.
www.dubaitourism.ae

<http://www.dubaitourism.ae/>

#]


Mohamed Abdul Mannan
Department of Tourism
and Commerce Marketing
Tel. + 971 4 223 00 00 Fax: +971 4 223 00 22
P. O. Box 594, Dubai, U.A.E.
Website: www.dubaitourism.ae

publié le 28 March 2009

Dubai Golf City Launch Prestigious Tilal Dubai Community

[#Dubai, March 26, 2009: Dubai Golf City LLC is pleased to announce that the development of its prestigious master-planned golfing community Tilal Dubai continues, with the sales and marketing launch that took place on Wednesday, 25 March 2009.#]

[#Tilal Dubai is a unique residential and golf course development being built in Dubailand, Dubai. Stretching out over 55 million square feet of landscaped greenery, it is comprised of an imaginative array of residential, sports and leisure quarters built around themed 18 hole golf courses. Tilal Dubai will be a low density development with an emphasis on privacy. Its location on naturally rolling topography at up to 50 metres above sea level, makes it some of the highest elevated land in the Emirate of Dubai. With residences situated above surrounding golf courses, it will offer some of the best and most uninterrupted views of undulating greenery in the region.#]

[#The select number of exquisite residences bordering the golf courses range from mansions and large villas to well appointed duplex apartments. The homes are designed to sit in harmony with the golf experience to guarantee Dubai Golf City’s position as a destination for golfers and non-golfers alike.#]

[#Dubai Golf City LLC is pleased with the progress of works at the site, including the initial 18 hole championship “Oasis Golf Course” (expected to be playable at#]


For all sales enquiries, please contact:
Mr. Aslam Khan
Vice President – Sales & Marketing
Dubai Golf City LLC
P. O. Box 87442, Dubai, U.A.E.
Tel: +971 4 511 8412
Mob: +971 50 441 5311
Fax: +971 4 511 8501
a.khan@dubaigolfcity.ae
For all media enquiries, please contact:
The CEO’s Office
Dubai Golf City LLC
P. O. Box 87442, Dubai, U.A.E.
Tel: +971 4 331 1000
Fax: +971 4 331 0808
r.camball@dubaigolfcity.ae

About Dubai Golf City LLC: Dubai Golf City LLC is a company jointly owned by the Thani Investments group, UAE and the Al Oula Real Estate Development group, KSA. The Thani Investments group is led by Abdullah Saeed Al Thani and has over 25 years experience in the oil & gas, mining and commercial sectors. Amongst other industries, the Al Oula group is one of the largest property developers in the KSA

publié le 10 September 2012

Dubai International Financial Centre grows 6% in first half 2012

press release

[# Dubai International Financial Centre (DIFC), the financial and business hub connecting the region’s emerging markets with the markets of Europe, Asia and the Americas, updates the market today on its continuous positive performance throughout the first half of 2012.#]

H1 Highlights
•The net total of active registered companies operating in the Centre grew to 899 (FY 2011: 848), an increase of 6%
• 90 commercial licences were issued in H1 2012 compared to 64 licences in H1 2011, a year-on-year increase of 41%
• Occupancy of DIFC-owned commercial offices in the Gate District increased to 98% (FY 2011: 95%) of the leasable space
• Occupancy in DIFC-owned retail space remained consistent at 96%
• Commercial office space within third-party developments under DIFC’s management is 86% occupied, compared to 72% occupancy at year end 2011

H. E. Abdul Aziz Al Ghurair, Chairman of the Board of Directors of DIFC Authority commented;
"The strong principles on which DIFC is founded - effective regulation and a dynamic business environment - position DIFC well to continue its development as a world financial centre. There are promising opportunities for significant expansion of DIFC both in terms of the number of companies operating here and the range of activities in which they are engaged."

Operating Review

DIFC has continued to strengthen its position as the international financial centre of choice in the region. As of 30 June 2012, 899 active registered companies had a presence in DIFC (FY 2011: 848 companies), with 329 regulated, 465 non-regulated companies, and 105 retailers (FY 2011: 322 regulated, 423 non-regulated, and 103 retailers). The number of employees working in DIFC stands at around 13,000.

Interest from North America and Europe continues to increase as western multinationals look to diversify their operations and expand towards the East. DIFC also witnessed sustained interest from Middle Eastern and Asian firms looking to increase their exposure to opportunities arising in Africa and the West. Today, the geographical diversity of the Centre’s total number of regulated companies reaffirms DIFC’s growing status as a global financial centre.

Approximately 36% of regulated member companies come from Europe, 26% from the Middle East, 16% from North America, 11% from Asia, and 11% from the rest of the world.

In the first half of 2012, DIFC issued 90 commercial licences, representing a 41% increase in registrations from same period last year (FY 2011: 135 registrations; H1 2011: 64). The Centre welcomed 9 new regulated companies including:
o Coutts & Company
o Swiss Re Corporate Solutions Ltd
o NBAD Investment Management (DIFC) Limited
o ICAP Securities Limited
o CIMD (Dubai) Limited
o Stonehage Trust holdings (Jersey) Limited

Amongst the licences were 73 issued to new non-regulated companies including:
o Booz & Company (M.E.) LLC
o BMW Finance (United Arab Emirates) Ltd.
o Marubeni Europower (Middle East) Limited

DIFC also attracted 8 new retailers including Mint Leaf of London and Brownbook Publishing FZ LLC.

As it continues to develop its modern and supportive infrastructure, major international firms took up significant additional space within the Centre including ES Bankers, which trebled its presence during the first half of this year.

DIFC remains the financial hub of choice for the world’s leading companies with 17 of the world’s top 25 banks1, eight of the world’s ten largest insurers2, eight out of 15 top law firms3, ten of the top 20 money managers4 and seven of the top ten consultancies5 all based in the Centre.

This is also underlined by Dubai’s ranking in the Global Financial Centres Index, which tracks competitiveness among 77 international financial hubs. Dubai is ranked the leading financial centre in the region and was also named amongst the top five centres where companies are thinking of opening offices. Moreover, a report from the Economist Intelligence Unit commissioned by Citi, entitled Hot Spots - Benchmarking global city competitiveness, ranked the most competitive 120 cities in the world for their demonstrated ability to attract capital, business, talent and tourists. Dubai was ranked 40 overall and the first in the MENASA region. Dubai was also ranked 10th overall for its financial maturity.

Soft Infrastructure Development

To remain competitive and operate as per the highest regulatory standards, DIFC continues to develop its internationally-recognised regulatory framework and legal system in order to support the growth of financial services and commercial activities.

During the first six months of 2012, four legislative proposals were published for public consultation and have been submitted for enactment by the Ruler of Dubai. These include amendments to the Employment Law, DIFC Law No. 4 of 2005; the Real Property Law, DIFC Law No. 4 of 2007; and the Data Protection Law, DIFC Law No. 1 of 2007. They also include a draft law and regulations for Non-Profit Incorporated Organisations.

At the same time, DIFC has further strengthened its efforts to develop its relationships with strategic counterparties and organisations. In H1 2012, DIFC Authority signed three mew Memoranda of Understanding (MoUs) with TheCityUK, the Australia Gulf Council and New South Wales Trade & Investment.

Physical Infrastructure Development

As new companies join and existing companies expand, demand for space at DIFC continues to grow. A total of 179,700 square feet of new space was occupied in H1 2012 representing 60% of those leased during the whole of 2011 (FY 2011 262,000 square feet).

Occupancy of the DIFC-owned commercial offices in the Gate District (Gate Building, Gate Precinct and Gate Village) remains high above 98% of the leasable space (total commercial office space: 1,379,103 square feet), while occupancy within the DIFC-owned retail space has remained consistent at 96% (Total DIFC-owned retail space: 226,397 square feet).

In the first six months of this year, the Property Lease Management Agreement (PLMA) between DIFC and a number of units in Liberty House expired. As such, third party owned office space managed by DIFC under the PLMA now includes the Currency House, Currency Tower and some units in Liberty House with a total area of 531,659 square feet. These are 86% occupied.

Office space in third party owned office space not managed by DIFC remains available and includes the Index Tower, Park Towers and Emirates Financial Towers as well as a number of units in Liberty House. The total space occupied in these buildings stands at around 349,407 sq ft though occupancy rates for the total space available in these developments are not available to DIFC.

publié le 10 September 2013

Dubai International Financial Centre Records 7% Growth in Active Registered Companies and Employment in First Half of 2013

press release

Net total of 979 registered companies with a combined workforce of 15,000 currently operating within DIFC’s financial ecosystem

Dubai International Financial Centre (DIFC), the financial and business hub connecting the region’s emerging markets with the markets of Europe, Asia and the Americas, updates the market today on its continuous positive performance throughout the first half of 2013.

H1 2013 Highlights

The net total of active registered companies operating in the Centre grew to 979 (FY 2012: 912), an increase of 7%
94 commercial licences were issued in H1 2013
1000 net new jobs created and 15,000 employees working in the Centre
The total leased commercial space increased by 122,300 square feet in H1 of 2013 representing a 6% increase over the total commercial space leased as of December 2012
Occupancy of DIFC-owned commercial offices in the Gate District increased to 97% (FY 2012: 94%) of the leasable space
Occupancy in DIFC-owned retail space increased to 99%, compared to 98% occupancy at year end 2012

Jeffery Singer, CEO of DIFC Authority commented;

Dubai International Financial Centre has witnessed numerous achievements over the last decade, and the last six months have been a continuation of our success. The Centre’s unique infrastructure, internationally recognized legislative and regulatory framework, and dynamic business environment have positioned DIFC to become a financial ecosystem. By connecting the region to the world, and the world to the region, DIFC provides excellent opportunities for companies based in the Centre to operate and expand their business, as reflected in the success and growth of Dubai’s economy.

Operating Review

DIFC has continued to strengthen its position as the international financial centre of choice in the region. As of 30 June 2013, 979 active registered companies had a presence in DIFC (FY 2012: 912 companies), with 365 regulated, 481 non-regulated companies, and 133 retailers (FY 2012: 345 regulated, 450 non-regulated, and 117 retailers).

Interest from North America and Europe continues to increase as western multinationals look to diversify their operations and expand towards the East. DIFC has also witnessed sustained interest from Middle Eastern and Asian firms looking to increase their exposure to opportunities arising in Africa and the West. Today, the geographical diversity of the Centre’s total number of regulated companies reaffirms DIFC’s growing status as a global financial centre catering to the region. Approximately 36% of regulated companies come from Europe, 27% from the Middle East, 16% from North America, 11% from Asia, and 10% from the rest of the world.

In the first half of 2013, DIFC issued 94 commercial licences.
The Centre welcomed 31 new regulated companies. These companies included:

_ China Construction Bank (Dubai) Limited
_ Bank of Baroda
_ Agricultural Bank of China
_ Asia Capital Re

49 licenses were issued to new non-regulated companies, including:

_ FTSE International (MEA) Limited
_ Dar Al Sharia Limited
_ Vitol Dubai Limited

DIFC also attracted 21 new retailers in the first half of 2013, including The Magazine Shop and Max Electronics, compared to 22 for the full year 2012 equal to the total number of outlets that registered with the Centre in 2012.

As DIFC continues to develop its modern and supportive infrastructure, major international firms expanded their operations within the Centre.

DIFC remains the financial hub of choice for the world’s leading companies with 21 of the world’s top 25 banks, 11 of the top 20 money managers, 6 of the world’s 10 largest insurers, and 6 out of 10 top law firms all based in the Centre.

Dubai has emerged as one of the Top 10 international financial centres, ranked 6th in The Banker’s (FT Business) ranking of international financial centres. Dubai ranks 3rd on inward FDI in financial sector and 5th on foreign listings (% of total listings).

Soft Infrastructure Development

DIFC continues to develop its internationally-recognised legal and regulatory framework in order to support the growth of financial services and commercial activities in the region, while operating under the highest global standards.

During the first six months of 2013, DIFC Authority proposed the amendment of a number of DIFC laws and regulations through the DIFC Laws Amendment Law, DIFC Law No. 1 of 2013 (“DIFC Laws Amendment Law”), in order to comply with the requirements set out by the OECD Global Forum on Transparency and the Exchange of Information for Tax Purposes (“OECD Global Forum”), and aligning the Arbitration Law, DIFC Law No.1 of 2008 (“Arbitration Law”) to the New York Convention.

In addition, DIFC Authority is also proposing to include transitional provisions in the Non-Profit Incorporated Organisations Law, DIFC Law No.6 of 2012 (“Non Profit Incorporated Organisations Law”) to allow existing non-profit organisations to become Non-Profit Incorporated Organisations without having to dissolve and re-incorporate.

Physical Infrastructure Development

As new companies join the Centre and existing companies expand their operations organically, demand for space at DIFC continues to flourish. The total leased commercial space increased by 6% over the total commercial space leased in December 2012 to 122,300 square feet in the first half of 2013.

Occupancy of the DIFC-owned commercial offices in the Gate District (Gate Building, Gate Precinct and Gate Village) remains high at 97% of the leasable space (total commercial office space: 1,371,000 square feet), while occupancy within the DIFC-owned retail space has increased to 99% (total DIFC-owned retail space: 230,000 square feet).

Third party owned office space, managed by DIFC under the Property Lease Management Agreement (PLMA), includes Currency House, Currency Tower and a number of units in Liberty House. The total area of these combined spaces is 530,000 square feet, 94% of which is currently occupied.

Third party owned office space not managed by DIFC includes units in the Index Tower, Park Towers and Emirates Financial Towers, Precinct Building 1 and 6, as well as a number of units in Liberty House, with the total space currently occupied in these buildings standing at approximately 372,000 square feet.

publié le 16 January 2011

Dubai is world’s best shopping destination, survey reveals

Press release

[#Dubai Department of Tourism and Commerce Marketing (DTCM) has announced that a new survey has named Dubai as the world’s top shopping destination among shoppers in the Arab World. Proactive marketing initiatives conducted by DTCM to promote travel and tourism attractions as well as business amenities in Dubai have helped cement the Emirate’s reputation as a popular shopping destination by shoppers in the Arab World and other countries worldwide.#]

[#
Shopping-oriented festivals such as the Dubai Shopping Festival (DSF) and Dubai Summer Surprises (DSS) have likewise strengthened Dubai’s claim as a global shopping haven.

"Dubai has an exciting mix of amenities that give customers a truly unique and pleasurable shopping experience. Moreover, Dubai’s impressive collection of international brands and retail outlets rival those of any other shopping city in the world - a key attribute that gives the Emirate a distinctive edge as the best shopping destination in the Arab World. Dubai Department of Tourism and Commerce Marketing will build on this distinction to develop more innovative campaigns and promotional activities that will further reinforce the reputation of Dubai as the world’s shopping capital," said Eyad Ali Abdul Rahman, Executive Director Media Relation Division & Business Development, DTCM.

In addition to a long list of luxury brands and a wide variety of retail choices, Dubai’s shopping centers have also been globally recognized for their distinctive amenities, such as the one-of-a-kind indoor ski slope at the Mall of the Emirates, and the majestic view of the iconic Burj Khalifa tower at the Dubai Mall.

Dubai was trailed in the ranking by Paris, which sits at a distant second with 13 per cent of the vote, followed by Beijing, Istanbul and London at joint third with 5 per cent each. New York, Beirut, Hong Kong, Bangkok and Tokyo complete the top 10, according to the survey, which polled 2,900 people from different Arab countries.

The survey by Yahoo! Maktoob Research revealed that 32 per cent of Arab shoppers rank Dubai as the best in a list that included prominent global cities such as London, Paris and New York.#]

publié le 21 February 2008

Dubai Mega Projects Conference coming up

As Dubai continues to set the pace for construction in the Gulf region, MEED - the business information specialist and conference organiser - has announced details of its fourth Dubai Mega Projects Conference. The event will take place on 3 and 4 March 2008 at the Al-Murooj Rotana Hotel in Dubai. The conference will provide insights into upcoming mega projects and look in detail at progress of existing projects such as Dubailand, Bawadi and Waterfront.

With Dubai’s population set to more than double to 3.5 million and tourist numbers to rise to 15 million by 2010, growth in the construction industry will continue. The aim of the city’s mega projects is to provide a mix of residential, commercial, leisure and tourism facilities to satisfy this growing population and large tourist influx.

A strong rental market in Dubai currently offers yields of up to 10% per annum driven by high demand for property especially among the expatriate community who makes up 80% of the population. This, combined with low purchase and sales costs, increasing availability of mortgages and high quality build make the property market very desirable, especially when surrounded by commercial and leisure facilities that are available in many mega project plans.

Edmund O’Sullivan, Chairman, MEED Events said: “Dubai can claim to be the current worldwide leader in mega projects. The range, scope and scale of what has been launched and what is planned is truly inspiring. MEED’s Dubai Mega Projects Conference brings together all of these visionary ideas into one place. We will be looking at new projects as well as examining progress on more established developments.”

Matt Joyce, Managing Director-Waterfront, Nakheel who is speaking at the conference added: “Nakheel is one of the world’s largest and most innovative real estate developers. We are a major player in the transformation of Dubai and the creator of some of the world’s most iconic developments. We are changing the map of Dubai, playing a key role in shaping the city’s future with a portfolio of landmark developments that will add more than 1,000 kilometres of new waterfront and create homes for 3,000,000 people.

“Waterfront is perhaps the largest and most ambitious urban development project in the world to date: a real ‘megaproject’. Located on the Western shores of Dubai, Waterfront will transform empty desert and sea into an international community for an estimated population of 1.5 million people that is twice the size of Hong Kong Island. The conference will give attendees the chance to gain a valuable insight into what it takes to build such a city; an exemplar sustainable city that is founded on the principles of resource efficiency, social equity, and economic prosperity.”

Other confirmed expert speakers include: Nicholas MacLean, Managing Director, CB Richard Ellis; Michael Proffitt, Chief Executive Officer, Dubai Logistics City; Saeed Ahmad Saeed, Chief Executive Officer, Limitless; and Khalifa Al Zaffin, Director of Projects, DP World.

With an array of industry leaders and government officials already confirmed to attend, the event promises unrivalled opportunities for developing new business partnerships and new investments.

More information about the Dubai Mega Projects Conference 2008, including latest news, pre-conference workshop and full conference details, can be found atwww.meed.com

publié le 10 July 2013

Dubai Properties Group Announces Development of JBR Beach Club

Press release

Dubai Properties Group (DPG), a member of Dubai Holding, and the master developer of Business Bay, Dubailand and JBR has announced today that plans are underway for a Beach Club development at its flagship destination, The Walk at JBR.

The developer has confirmed that a design competition was conducted for the project and the process of appointing the successful architect is in the final stages.

The Walk at JBR is one of the most distinctive and popular entertainment and shopping destinations in the UAE, welcoming over 10 million visitors in 2012 alone. The JBR beach club is one of the first in a series of new developments that will further cater to JBR residents and visitors to The Walk, with work to start on the project later this year. DPG will be making further announcements on additional projects for The Walk in the near future.

Speaking about DPG’s plans for The Walk at JBR, Khalid Al Malik, Group CEO of Dubai Properties Group said: “We always look for further opportunities to enhance our destinations and communities. The JBR beach club will further add to the quality of living that residents currently have, offering them additional services and leisure facilities.”

- See more at: http://dubaipropertiesgroup.ae/news/dubai-properties-group-announces-development-jbr-beach-club#sthash.SL1bnrNW.dpuf

publié le 3 December 2009

Dubai World crisis to slow UAE recovery: IMF

[#The International Monetary Fund expects to cut its 2010 growth forecast for the UAE as economic activity slows due to the debt woes of state-owned Dubai World, a top IMF official has said.#]

[#Masood Ahmed, director for the IMF’s Middle East and Central Asia Department, told reporters the IMF was looking at revising down its forecast for the UAE’s non-oil gross domestic product to "significantly lower" than the 3 per cent it had projected in October. That would still be higher than the close to zero forecast the IMF has forecast for the UAE in 2009.

Despite the turmoil surrounding the Dubai crisis, Ahmed said he did not anticipate the UAE would need any financial support from the IMF and could easily deal with the fallout with its own resources.

He said the crisis at Dubai World, one of the emirates’s flagship holding firms, could lead to higher credit borrowing costs and may also impact other countries as the conglomerate postpones projects and disposes of assets.

Households could also be hit by lower remittances as workers, many of them from neighboring countries, are put out of jobs or unable to find work.

"Our anticipation is that there will be a significant reduction in that growth rate, down from 3 pe rcent, probably somewhere between 1 per cent and 3 per cent," said Ahmed following a preliminary assessment of the Dubai situation.

A Reuters poll on Monday showed that Gulf Arab states will enjoy solid growth rates next year, with UAE GDP growth up 2.9 per cent in 2010.

Dubai, one of the seven emirates that make up the UAE, has been rocked by the crisis at Dubai World, which announced late on Monday it will meet with creditors to delay payment on $26 billion in debt.

Ahmed said the announcement of the amount of debt it is seeking to restructure "helped to put boundaries around the amount and the scope of the debt restructuring."

He said the IMF was also encouraged by Dubai World’s announcement it will strive for equitable treatment of creditors in the debt talks but emphasized they should go further to ensure a smooth transition.

"We do believe that continuous engagement and communication with creditors and investors will be critical to ensure an orderly and timely solution," he added.

Ahmed said direct financial impact on international banks that lent money to Dubai World is expected to be "contained and manageable".

"We don’t see that will be an issue," he said, also noting support by the UAE central bank for domestic banks.

He said the Dubai crisis could lead to financiers and investors paying closer attention to guarantees of commercial corporations owned by governments, and may also trigger a broader reassessment of commercial risk and property.#]

Reuters

publié le 22 April 2016

During visit of French President to Jordan, Egis signs strategic agreement in water supply sector

press release

Nicolas Jachiet, Chairman and CEO of Egis, has signed an agreement with the Jordanian government for the improvement of drinking water supply in the governorates of the North of Jordan. This project in which Egis will provide technical assistance to the Yarmouk Water Company (YWC) will address problems relating to drinking water shortages in Jordan and connected with the huge influx of Syrian refugees into the country since 2011.

The Yarmouk Water Company manages 80 million m3 of water per year. Between now and 2030, a further 30 million m3 will be necessary to meet drinking water requirements in the governorates of the North of Jordan (Irbid, Mafraq, Jerash and Ajloun).

Since the beginning of the armed conflict in Syria in 2011, the arrival of refugees has compounded the problems facing the supply of drinking water, which was already under considerable strain due to growing demand for water, limited resources and a high ratio of water loss on the main network, otherwise known as non-revenue water (NRW).

This led the Yarmouk Water Company to take the decision to launch a long-term programme to improve water distribution capabilities in each of the governorates in question.

Over a period of 14 months, teams from Egis Eau in association with VINCI Construction Grands Projets will contribute their extensive technical skills to assist the contracting authority in the delivery of this vast project.

This will involve performing work on existing networks (diagnosis, prioritisation, replacement and renovation) but also introducing operational and asset management tools, collecting data (taking measurements on the network) and analysing findings through the use of indicators.

A project with many issues at stake

The project implemented under the auspices of the FASEP, an aid fund backed by the French Ministry of Finance, will run pilot schemes on two zones: a rural zone and an urban zone. In each of these zones, the project breaks down into three phases:

1) Network operation and reduction of non-revenue water

· Improve the network’s operating capacity

· Improve the quality of water supply and the revenue of YWC in some water service areas (by reducing NRW).

2) Asset management

· Improve the ability of YWC to manage its distribution and production facilities

· Optimise maintenance and renovation plans in certain water service areas

3) Performance management

· Improve energy efficiency and reduce YWC’s pumping costs in certain water service areas

· Develop and test innovative, measurable and performance-based approaches and methods to effectively reduce non-revenue water.

About Egis

€937 million managed turnover in 2015

13,000 employees

Egis is an international group offering engineering, project structuring and operations services. In engineering and consulting, its sectors of activity include transport, urban development, building, industry, water, environment and energy. In roads and airports its offer is enlarged to encompass project structuring, equity investment, turnkey systems delivery, operation and maintenance services and mobility services. Employing 13,000 people, including 8,300 in engineering, the group generated a managed turnover of €937 million in 2015.

Egis is 75%-owned by the French "Caisse des Dépôts" and 25%-owned by Iosis Partenaires (a "partner" executive and employee shareholding).

publié le 27 March 2012

EFG Hermes and QInvest Look to Create Strategic Alliance

[# EFG Hermes Holding S.A.E and QInvest are pleased to announce they have agreed to explore a potential strategic alliance. The aim is to create a leading investment bank with operations in the Arab world and beyond, comprehensively covering the Middle East, Africa, Turkey, and South and South East Asia.
#]

GIF - 5.3 kb

[#Both institutions will immediately begin assessing potential synergies and proceed with discussions, following which an announcement as to whether an agreement has been reached or not will be made. In the case of an agreement, the parties will announce the general framework of a joint venture and a timetable for its implementation, subject to the appropriate regulatory approvals.

The businesses included within the scope of discussions will be Securities Brokerage, Asset Management and Investment Banking. EFG Hermes Private Equity will be excluded from the scope of discussions.

Commenting on this announcement, QInvest said: “We look forward to establishing a potential alliance with EFG Hermes that would position our firms to leverage continuing economic growth and play a pivotal role in the long-term development of the region.

“The alliance would enable us to bring the expertise necessary to capitalize on the desires of many regional and foreign investors who are seeking to play a significant role in the region’s economic development and are willing to invest across the Arab region, Africa and Asia. By bringing together our own capabilities at QInvest, with EFG Hermes’ position as the region’s largest investment banking presence across the Arab markets, we are confident we can create the leading investment banking platform of choice across Africa, the Arab world and South / South East Asia,” QInvest added.

EFG Hermes commented, saying: “We share a common vision with respect to the future prospects of various markets including Egypt and other high-potential economies in Africa and Asia.”

“A potential alliance with QInvest through which we can combine our expertise in our chosen businesses would be a significant turning point in supporting investments in the Arab world. Our primary objective in these discussions will be to create an investment banking platform that will play a vital role in the flow of foreign capital into the region while enabling Arab investors to participate in future investment opportunities in the regions that will fall under the umbrella of this new platform,” EFG Hermes concluded.

About QInvest

QInvest was licensed by the Qatar Financial Centre Authority in April 2007 and is authorised by the Qatar Financial Centre Regulatory Authority. The firm has authorized capital of USD 1 billion and paid up capital of USD 750 million.

The QInvest shareholder structure includes Qatar Islamic Bank and other institutional investors, as well as prominent high net worth individuals from across the region. The platform offers a broad range of expertise which enables QInvest to deliver a high value service to clients, seamlessly covering advisory, financing and investment needs. Business lines include investment banking, investment management, brokerage and wealth management, with dedicated origination and placement teams.

With over 130 staff, including 75 front office professionals, QInvest’s talented team of investment bankers brings a valuable mix of both international experience and regional knowledge, enabling the Firm to pursue opportunities across its chosen markets of the Middle East, Africa, Turkey, South Asia and South-East Asia.

Extending beyond this geographic focus, the firm also pursues opportunistic transactions globally where it identifies high value propositions for clients.

For further information about QInvest, please visit www.qinvest.com.

About EFG Hermes

Established in 1984, EFG Hermes is the leading investment bank in the Arab world. The Firm specializes in Securities Brokerage, Investment Banking, Asset Management, Private Equity and Research. EFG Hermes is listed on both the Egyptian and London stock exchanges. The recent acquisition of a 65% stake in Credit Libanais marks the first step towards EFG Hermes’s transformation into a universal bank and will enable it to rapidly expand into retail and commercial banking.

Through its operations in Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria and the UAE, with over 1,000 employees of 25 nationalities, EFG Hermes serves a considerable and diversified client base from the Middle East and North Africa to Europe, Africa and the United States. Our clients include governments, corporations, financial institutions, high net worth clients and individual customers.

For further information about EFG Hermes, please visit www.efghermes.com.
#]

publié le 20 December 2012

EFG International to be title sponsor of Sailing Arabia – The Tour

press relase

[#Oman Sail today announced that EFG International, a leading global private banking group, will be the main sponsor of Sailing Arabia – The Tour 2013, the Gulf region’s only long distance offshore sailing event. EFG International will be the title sponsor of the race, which will involve elite teams from across the region and around the world. Thanks to its involvement, the event will be named “EFG Bank Sailing Arabia – The Tour 2013” and will take place between 10th to 25th February of next year.#]

[# The title sponsor will also participate directly in the race with its team EFG Bank Monaco, named to reflect the “EFG Bank Sailing Academy” partnership with the Monaco Yacht club, and pointing to the bank’s business presence in 30 locations around the world.

Sailing Arabia – The Tour had its first edition in 2011 with the aim to promote the Middle East as an international sailing race destination and to establish a competition that is considered part of the international sailing agenda. Thanks to the perfect winter climate conditions in the Middle East, the regatta has already achieved a place in the calendars of the world’s leading sailors, and is now a firm fixture on the international circuit. During the fifteen day 2012 race, 63 sailors in 9 one-design keelboats competed fiercely over 760 nautical miles of challenging conditions, calling at 7 world class regional marinas and setting high expectations for 2013’s event.

David Graham, Oman Sail CEO commented: “It’s an honour for us to have EFG International as a sponsor of the 3rd edition of Sailing Arabia – The Tour 2013. EFG International is a globally recognised name in private banking and has sponsored a number of high profile sporting events, with sailing as one of its focal points. Our partnership with EFG International, which is the first time they have sponsored sailing in the Gulf, will draw considerable attention to this unique event, and provide invaluable support to Oman Sail in our efforts to rejuvenate the great tradition of competitive sailing in the region.”

George Catsiapis, Managing Director, commented: “EFG International has a strong commitment to sailing, and is pleased to be the title sponsor of Sailing Arabia - The Tour 2013. Thanks to the success of the previous editions of the race, and Oman Sail’s commitment to youth mentoring and sail training, we felt that the sponsorship was a good fit with our sponsorship goals, and we are confident that EFG Bank Sailing Arabia – The Tour 2013 will go a long way to establishing the sport in the hearts of the Gulf’s people.”

EFG Bank Sailing Arabia – The Tour 2013 will feature teams from across the region and from the top echelons of the international keelboat circuit competing in a fleet of identical Farr 30 boats, one of the Grand Prix racing world’s most exciting platforms. With 15 days of intense racing along the Gulf coast, from Bahrain to Qatar, through Abu Dhabi, Ras Al Khaimah, Dibba, and Mussanah to the finish line at Muscat, the race will provide regional sports fans with a window into the excitement of the physically demanding and highly strategic sport of offshore sailing.

In addition to the Sailing Arabia – The Tour 2013, EFG International also sponsors: EFG Bank Mandrake (competing in leading regattas across Asia); EFG Bank Sailing Team (competing in the Melges 24 class, Europe); EFG Bank Sailing Academy, Monaco Yacht Club; BACARDI Sailing Week, Miami and Newport; The Star Winter Series, Florida; and The Antigua Classic Yacht Regatta.

EFG Bank Sailing Arabia - The Tour 2013 is taking place between 10th to 25th February 2013 travelling across the Gulf between Bahrain, Qatar, United Arab Emirates and finally Oman.#]

publié le 14 March 2015

Egis, in association with Systra, to carry out design studies for future metro in Medina, Saudi Arabia

The Medina Metro Development Authority (MMDA) has just awarded Egis, in association with Systra, a contract to carry out the design studies of the future metro network in Medina. The contract relates to three lines (green, blue, red) stretching a total of 95 km, including 25 km underground and 48 km overhead.

The project is part of an ambitious plan initiated over the past few years by Saudi Arabia to develop and modernise its transport infrastructure. As the second holiest city in the country, Medina has to deal with an influx of several million pilgrims each year.

The metro is due to enter into service in 2020, with the project divided up into two distinct phases.

The consortium’s assignments

The consortium will be tasked with carrying out the feasibility studies and the preliminary design for the metro, including the preparation of invitation to tender documentation for "Design and Build" contracts. Over a 12-month period, the project team based in Medina will draw on all of Egis’ expertise required for this huge project: civil engineering, architecture, environment, rolling stock, signalling, telecoms, operating strategy, etc.

This new contract comes as a complementary addition to the metro services provided currently by Egis in the Middle East in the fields of project management and works supervision contracts. Indeed, since 2013, Egis has been in charge of the project management and construction supervision of three lines of the future Riyadh metro, in partnership with Systra and the American firm Parsons. Egis is also active in Qatar on the project management of the Doha metro (civil engineering of its yellow line, civil engineering and equipment of Musheireb and Education City stations), and more recently on the project management of the overhead and ground-level sections of the Doha metro.

About Egis

€881 million turnover in 2013

12,000 employees

Egis is an international group offering engineering, project structuring and operations services. In engineering and consulting, its sectors of activity include transport, urban development, building, industry, water, environment and energy. In roads and airports its offer is enlarged to encompass project structuring, equity investment, turnkey systems delivery, and operation and maintenance services. Employing 12,000 people, including 7,500 in engineering, the group generated a turnover of €881 million in 2013.

Egis is 75% owned by the French "Caisse des Dépôts" and 25% owned by Iosis Partenaires, (a "partner" executive and employee shareholding)

publié le 30 August 2011

Eni signs Memorandum with the Libyan NTC

Press release

[#Under the terms of the Memorandum, Eni and NTC are committed to creating the conditions for a rapid and complete recovery of Eni’s activities in Libya and to doing all that is necessary to restart operations on the Greenstream pipeline, bringing gas from the Libyan coast to Italy#]

[# Eni and the Libyan National Transitional Council (NTC), which is recognized by Italy and the international community as a legitimate representative of the Libyan people, today signed a Memorandum that strengthens cooperation in Libya between the parties.

Under the terms of the Memorandum, Eni and NTC are committed to creating the conditions for a rapid and complete recovery of Eni’s activities in Libya and to doing all that is necessary to restart operations on the Greenstream pipeline, bringing gas from the Libyan coast to Italy.

Furthermore, with reference to the joint declaration signed on May 31, 2011 by the Italian government and NTC, Eni has engaged in providing a first supply of refined petroleum products to NTC to contribute to the basic and most urgent needs of the Libyan population. Eni will also provide technical assistance to assess the state of facilities and energy infrastructure in Libya and to define the type and extent of operations required to safely restart activities.

Eni has been active in Libya since 1959 and is the largest foreign player in terms of hydrocarbon production. The Memorandum signed today represents, in this delicate time for Libya, confirmation of the robust relationship between Eni ans NTC, who are evaluating various possible forms of cooperation in order to ensure the timely resumption of operations in the oil & gas sector and to enhance the country’s natural resources to benefit the Libyan people and in respect of the existing contract. Eni also provides NTC with humanitarian aids by supplying medical equipments.#]

publié le 16 November 2014

Environmental heroes in focus as earthrise returns to Al Jazeera

Painting rhino horns pink and deploying drones to save wildlife; aquapods and fish boxes for sustainable fishing; from urban mining to urban farms; marine rejuvenation and island sustainability; the new series of earthrise highlights innovative solutions to environmental issues around the globe.

Al Jazeera focuses on the people around the world making the planet a better place, in the return of award-winning environmental and conservation series earthrise. Premiering on Al Jazeera English on 17 November at 2230 GMT (10.30pm London), the series is unique in highlighting ‘earth heroes’ across the world who are coming up with solutions to environment problems.

Giles Trendle, Director of Programmes at Al Jazeera English: “Earthrise highlights positive and uplifting environmental stories at a time when global audiences are increasingly aware of the need to take better care of the planet. This is the sixth series of a popular and colourful show that focuses on solutions-oriented journalism. ”

In the premiere episode on 17 November earthrise reporter Russell Beard joins Kenyan-born ‘local hero’ Martin Wheeler, otherwise known as Birdman, as he channels his love of birds into his own passion for flying. From his small paramotor (a powered paraglider), Martin works with local rangers to identify poaching threats from the air, relaying locations and information back down to the rangers on the ground. The second story highlights how a hunting ban on sea otters is helping to improve marine forests known as seagrass beds, in Monterey, California.

In the second episode on 24 November, earthrise looks at one of TIME magazine’s top 25 inventions of 2012, the ‘Aquapod’ and how it is helping farm healthier and more eco-friendly fish in Mexico. Secondly, rangers in South Africa have come across a rather novel solution to protect rhinos from poachers – turn their horns pink. As the number of rhinos killed for their horns escalates to crisis level, conservationists in the Kapama Game Reserve are injecting the horns of rhinos with a mixture of insecticide and indelible dye of the type used by the security industry. The dye not only spoils the highly prized horn for trophy purposes but also makes it detectable by airport scanners and toxic for human consumption.

On 1 December, we look at how the critically endangered Sumatran orangutan is being given a boost thanks to two major Indonesian NGOs who have planted hundreds of thousands of trees in degraded areas, and released nearly 200 primates into the restored area, monitored by remote controlled drones, allowing rangers to locate and check up on the orangutan groups once they’ve been released. Secondly, earthrise looks at the surge in urban mining and visits Umicore in Belgium, one of the world’s most efficient metal recycling plants.

On 8 December we visit the Elwha River in Washington state, USA site of the worlds’ largest dam removal project where the National Park Service, in partnership with the Lower Elwha Klallam tribe and an army of local volunteers, are restoring the ecosystems and reintroducing salmon back to the wild for the first time in over 100 years

On 15 December, earthrise features a Bangkok start-up called EnerGaia, who are pioneering an urban farming model that uses neglected urban spaces to cultivate spirulina, a fast-growing blue-green algae that converts carbon dioxide into nutrients, protein and oxygen. In contrast to the large, shallow, open-air ponds traditionally used to grow spirulina, EnerGaia’s small closed-system tanks can be installed on whatever land is available, including rooftops in urban centers. Secondly, a marine biologist, a fisherman and a food entrepreneur have launched the UK’s first responsibly sourced commercial fish box scheme, modelled on organic vegetable boxes. Their aim is to create an alternative market for fresh, local seafood that’s sustainably caught. Finally, earthrise looks at Europe’s first "nutrient recovery reactor" and how it is reclaiming the phosphorus from human waste and turning it into fertiliser pellets, thereby making money and protecting waterways by recycling valuable minerals.

Finally, on 22 December, earthrise looks at reducing carbon emissions on the Caribbean island of Barbados. The island is a world-leader in solar thermal technology, with over a third of homes fitted with solar water heaters – saving millions of dollars in imported fossil fuel costs and millions of tonnes of carbon dioxide every year. With the help of some pioneering ‘local heroes’ the shift to a greener economy is also beginning to happen in many other areas, including food and tourism. Russell Beard travels to the sunshine nation hoping to lead the way in small-island sustainable development.

Join the conversation by tweeting @AJEarthrise and watch the series online at http://www.aljazeera.com/programmes/earthrise/

Note for Editors
Broadcast and repeat time times from earthrise programs Monday 17th November to Friday 26th December inclusive (6 episodes):
Monday 2230GMT (10.30pm London)
Tuesday 0930GMT (9.30am London, 11.30am Johannesberg, 3pm New Delhi, 8.30pm Sydney)
Wednesday 0330GMT (9am New Delhi, 2.30pm Sydney)
Thursday 1630GMT (12.30pm Toronto, 4.30pm London, 6.30pm Johannesberg, 10pm New Delhi)
Friday 0530GMT (4.30pm Sydney, 11 am New Delhi)

Press materials, including images available to download here (link not to be published): https://www.dropbox.com/sh/etjtxjevhaqo8eb/AAAFVOZ16VlvDD3gldm00TCTa?dl=0

publié le 21 February 2008

Eqarat.com sells highest office space in the world for AED 44 million

Eqarat.com, the Dubai-based total solutions provider to the real estate sector, has announced that it recently sold the highest office floor in the world for a total value of AED 44 million, encompassing a total of 11,000 square feet of sophisticated and functional work space on the 94th floor of Burj Dubai, presently the tallest skyscraper being built.

The impressive property was purchased by a European investor through the assistance of Eqarat.com, which has resulted in the successful acquisition of the most coveted commercial real estate property within the globally renowned landmark.

"Purchasing property in Dubai has become a simplified process; however intense competition not only among property developers, but even with high profile investors who are always on the lookout for the most profitable developments in this rapidly developing emirate, has presented customers with difficulties in acquiring their ideal properties. It brings us pride to have successfully facilitated the sale of the most sought-after commercial space in Dubai at present, as a result of our market strategy, which we have gained through extensive knowledge of the local market. This success further reiterates the trust that investors have for us, which serves as our foremost motivation to further improve our services and satisfy the demands of highly discerning customers," said Ali Al Rahma, CEO, Eqarat.com.

publié le 7 March 2012

Etihad Towers, Abu Dhabi to host the French Embassy in the UAE

[#His Highness Sheikh Suroor bin Mohammed Al Nahyan signed an agreement with His Excellency Alain Azouaou, the French Ambassador in the UAE, marking a high profile tenant for Etihad Towers, Abu Dhabi. The French Embassy will function from the dedicated office tower of the newest and most prestigious integrated lifestyle development in the capital city.#]

[#Developed by Sheikh Suroor Projects Department (SSPD), Etihad Towers, Abu Dhabi was launched at a glittering ceremony on December 1, and is today, one of the most sought after developments in the city. With the new office move, all Embassy services will be integrated including business services that are currently being conducted from the Hamdan Street office.

His Highness Sheikh Suroor said: “The agreement with the French Embassy underlines the premier position of Etihad Towers, Abu Dhabi, as the first choice for business entities and organisations in the capital city. This luxury development is a symbol of the world class work and living environment that Abu Dhabi has to offer, and we are confident that these new premises will contribute to further strengthening the UAE-French relations, nurtured over the past 40 years.”

The French Ambassador said: “Ever since the establishment of formal diplomatic relations between the UAE and France 40 years ago, our relations have grown considerably. We look forward to strengthening these relations with the UAE nationals and residents as well as the French community, by providing them a convenient and central location. The choice of these state-of-the-art offices illustrates our desire to offer excellent working conditions to the embassy’s employees and a welcoming environment to meet visitors.”

The French Embassy, with over 80 staff members – the number doubling in the past decade - offers Diplomatic Chancellery, consular services, cultural, economic, military, management, cooperation with police, and relations with the International Renewable Energy Agency (IRENA). The French community in the UAE has also grown over the years, with more than 16,000 French residents, some 5,000 of them in Abu Dhabi.
The French Ambassador said that by choosing a prestigious building, close to the Ministry of External Affairs, France is highlighting its privileged relations with the UAE. “This demonstrates that throughout the year, we will serve as a strategic partner through our diversity in cooperation – business, commercial, financial, military, defence, cultural and educational, among others. The choice of Etihad Towers, Abu Dhabi, marks our commitment to the relations with the UAE for the years to come.”
The new embassy will span over 2,000 square metres on levels 27 and 28 of Etihad Towers, Abu Dhabi.

‘Working at Etihad Towers’ provides more than 45,000 sq metres of leasable space over 52 floors. Several high profile regional and international companies and organisations have already partnered with Etihad Towers, Abu Dhabi with the leasing progressing well. These new tenants are currently undertaking their interior design, and fitting out works.

Mr. Sami Al Khuwaiter, Project Director at SSPD, said: “We are thankful to the French Embassy for opening their office premises in Etihad Towers, Abu Dhabi. The luxury development offers the opportunity to be part of a vibrant lifestyle development with luxury homes, high-end retail, a five-star hotel – Jumeirah at Etihad Towers, and many leisure amenities in close proximity.”
With an emphasis on environmental sustainability, ergonomics and the highest specification, the offices can be laid out in a highly flexible manner that best suits the tenant’s business. Facilities include on-site underground car parking, professionally managed reception areas, high speed elevators, concierge services and 24/7 security.
- ends-
Photo Caption
(R-L) His Highness Sheikh Suroor Bin Mohammed Al Nahyan and His Excellency the French Ambassador Alain Azouaou sign the agreement to lease two floors of Etihad Towers, Abu Dhabi.

About Etihad Towers, Abu Dhabi:

With five stunning towers that sparkle iridescently, Etihad Towers is a reflection of everything that Abu Dhabi is and will be - modern, sophisticated and luxurious. Developed by Sheikh Suroor Projects Department (SSPD), Etihad Towers is an impressive sculptural feat designed by Australian architects DBI Design.
Changing the Abu Dhabi skyline forever, the towers offer the most amazing vantage points - with sweeping panoramic views over the vibrant city and Arabian Gulf. Set in the most desirable and exclusive beachside Al Ras Al Akhdar district of Abu Dhabi and located near the world-renowned Corniche, Etihad Towers is designed, inside and out, to give the people who live, work and stay the most memorable and enriching of experiences.
Etihad Towers offers you a wide selection of services, amenities and luxuries, including a total of five unique towers that range from 54 to 75 floors, reaching over 300 meters high and covering over half a million square meters.
Three spectacular residential towers offer a total of 884 apartments and penthouses, ranging from one to five bedrooms. Jumeirah at Etihad Towers, Abu Dhabi features 382 elegant hotel rooms and suites, 199 luxurious serviced apartments, and an amazing array of beauty, fashion and relaxation amenities including the Talise Spa.
The prestigious office tower has state of the art systems, infrastructure and proficiently managed facilities. Shopping at Etihad Towers opens doors to an exclusive selection of designer boutiques offering luxury fashion, jewelry, timepieces, accessories and more.
There are four levels of underground car parking, with valet parking and a capacity for approximately 3,000 cars. Etihad Towers has its own private beach, one of Abu Dhabi’s largest and most contemporary convention centers and a grand ballroom catering for guests of up to 2,000.#]

publié le 24 December 2009

Eurosport Group launches Eurosport Arabia

[# From Casablanca to Cairo, Jeddah to Dubai, sports fans across the Arab world will now have a preferred online and mobile destination for breaking news and LIVE sports updates.

Available in Arabic and French, Eurosport Arabia, brings superb editorial coverage and last-minute sports updates across 19 countries* in Middle East and North Africa (MENA) with 8 region-specific landing pages (Egypt, Morocco, Algeria, Tunisia, Saudi Arabia, UAE, Qatar, Syria) catering to the preferences of local sports fans. A total of 12 regionalised pages will be available in the coming months.

The exciting partnership deal, announced in May, leverages the stand-out qualities of two trusted brands: Eurosport, the European leader in sports coverage and news, and du, the most innovative telecommunications operator in the Middle-East.

Eurosport Arabia sees Eurosport reinforce its position as a leading sports entertainment group by extending its geographical and digital footprint into dynamic new regions. This new site represents Eurosport’s 10th local language site.

"MENA is a strategic region for the Eurosport Group. This dynamic market is expected to grow to over 268 million mobile and 100 million online users by 2014 which should create a $5.5 billion revenue opportunity in digital commerce, content and advertising. Today there is a very high demand for digital content and a low level of competition in the region and Eurosport Arabia aims to fill the gap in the sports digital marketplace and stimulate the growth of digital services in the MENA region" explains Laurent-Eric Le Lay, Eurosport’s Chairman and CEO.

"The region is home to millions of passionate sports fans using internet and mobile as their main sources for sports information ... it is our mission as leading sports entertainment group to engage with fans around the globe. With Eurosport Arabia we are extending our digital footprint to the Middle-East and sharing our passion for sport and expertise with the Arab world" adds Laurent-Eric Le Lay, Eurosport’s Chairman and CEO.

A online survey conducted in October 2009 by Effective Measure confirmed that MENA is home to passionate sports fans:
. over 80% of on-line sports fans in the MENA are very or extremely passionate about sports,
. 40% of sports fans spend more than 16 hours on-line per week both at home and at work,
. over 27% of sports fans in the region are females.

Eurosport Arabia is based in Dubai and has a staff of full time sports editors representing different nationalities from the MENA region. The digital services will leverage Eurosport’s unparalleled editorial expertise and extensive knowledge of the sports environment as well as Eurosport Arabia’s multi-cultural editorial team’s understanding of the local sports fans needs.

eurosport.arabia.com offers:

• Arabic and French content, giving the site an international, regional and multi-local aspect, with region-specific landing pages.
• UGC, online communities, blogs, polls, competitions, games Eurosport Arabia will take engagement and interaction to a new level
• Eurosport Arabia will also be the first digital Arab destination to offer breaking news for ALL major sports and events - from football to motorsports to basketball, from summer and winter Olympics to the World Cups.
• Services such as the LIVE box combined with SMS and Twitter notifications ensure that fans never miss a game, wherever they are. Eurosport Arabia offers a comprehensive LIVE DATA and LIVE Commentary offer.
[click here for more details]

Combining the best of content with the best of digital technology, Eurosport Arabia unleashes the potential of sports fans across the Middle-East and North Africa - one of the fastest growing consumer groups on the planet.

Eurosport Arabia also offers advertisers and agencies an exciting and unique platform to promote their brands and products across the entire MENA region and around the positive values associated with sport. To know more about advertising on Eurosport Arabia click here or visit www.eurosport.corporate.com#]

* Morocco, Algeria, Tunisia, Libya, Mauritania, Sudan, Egypt, Saudi Arabia, Yemen, Oman, UAE, Bahrain, Qatar, Kuwait, Iraq, Syria, Jordan, Lebanon, Palestinian Territories

publié le 4 March 2012

Family Time at Park Regis Kris Kin Hotel Dubai

[#To attract families and couples Park Regis Kris Kin Hotel Dubai has launched two fantastic promotions. ‘Kin Deal’ is tailored to suit the needs of families while ‘Regis Romance’ is ideal for couples.#]

[#Scott Butcher, General Manager, Park Regis Kris Kin Hotel Dubai, said, “These are wonderful offers for couples and families with some excellent benefits. Promotions such as these are all about creating experiences to build relationship with our guests. We are pleased to offer more for less especially in times where everyone is tightening their belts.”

Guests can, no doubt, enjoy truly superb value. When a couple books the Regis Romance, they will get to stay in a Deluxe Double Room for AED 950 along with in-room breakfast, 4-course dinner in Kris, as well as special welcome amenities.

Similarly, families can take advantage of the Kin Deal and check into a Superior Jr. Suite Twin Bedded Room (King / Queen Bed) for AED 990. Part of the deal are buffet breakfast for the full family in Le Metro, dinner for parents in Kris and for the two kids in the room with baby-sitting service, plus welcome amenities.

  • Regis Romance

Rekindle your romance at Park Regis Kris kin Hotel Dubai. Book the ‘Regis Romance’ package for AED 950

And Enjoy

  • Deluxe Double Room Accommodation
  • In Room Breakfast
  • Dinner in Kris with a View - upscale signature restaurant of the hotel located on the 19th Floor offering 360 degrees views of Dubai. Includes a glass of bubbly rose in Kris Lounge, followed by 4 course set menu and 1 bottle of house wine in Kris Restaurant. The beautiful ambiance is enhanced by live contemporary jazz music.
  • Special welcome amenities

The above rate is per room per night and is subject to availability

  • Kin Deal


Book your stay at the Park Regis Kris kin Hotel Dubai & take advantage of our family offer:
AED 990 Superior Jr. Suite Twin Bedded Room (King / Queen Bed)

Package Includes:

  • Buffet Breakfast in Le Metro
  • A Dinner for Parents in Kris with a view including 3 course set menu & -* 1 bottle of house beverage
  • Dinner for children in the room and babysitting for 2 hours
  • Welcome amenities

The above rate is per room per night and is subject to availability for maximum of 2 adults and 2 children

Dubai local attractions such as Dubai Ski, Cruise and Dubai Museum Tour can be arranged by the Hotel at a special rate
For more information please visit http://www.parkregisdubai.com#]

publié le 7 January 2014

FINALISTS SELECTED FOR 2014 GOURMET ABU DHABI STARS AWARDS

presse release

Second Round of voting for UAE capital’s ‘Oscars of Hospitality Industry’ now open
Abu Dhabi, UAE. 15th December 2013: Forty finalists have now been selected for the 10 hotly-contested public accolades of the 2014 Gourmet Stars Awards – an annual highlight of the UAE capital’s annual culinary festival, Gourmet Abu Dhabi, which runs across 20 of Abu Dhabi’s leading restaurants from 4-19 February 2014.

Round Two of public voting is now open until 23 December through the official Gourmet Abu Dhabi website www.gourmetabudhabi.ae. Widely recognised as the ‘Oscars of the local Hospitality Industry’, the awards recognise individuals and restaurants that have contributed most to the UAE capital’s expanding hospitality sector. Following public voting, a four strong judging panel will spend two weeks touring the shortlisted venues to cast the final vote.
“Competition among newcomers and established favourites on Abu Dhabi’s culinary scene is stronger than ever, as they continue raising the bar to secure the region’s leading food & beverage honours - the Gourmet Stars Awards,” said Noura Al Dhaheri, of the Gourmet Abu Dhabi organising committee. “The votes cast by the public and the industry during the first round demonstrate significant interest in the awards, and we now invite all visitors to Abu Dhabi’s diverse and vibrant dining scene to cast votes for their favourites and recognise the emirate’s culinary creativity, quality and service excellence.”
A multitude of chefs, restaurants and front-of-house professionals are vying for the 2014 dining honours, with four of the emirate’s big-name chefs contending the Executive Chef of the Year accolade, and the capital’s best Eastern Mediterranean, French, Steakhouse and Thai restaurants competing for the coveted Restaurant of the Year gong, all to be decided by the public vote.

The programme features 12 industry awards – two of which are not open to public voting – and are segregated into three categories - ‘Chef’, ‘Service’ and ‘Restaurant’ – and include: ‘Executive Chef of the Year’, ‘Acqua Panna & S.Pellegrino Restaurant Chef of the Year’, ‘Regional Cuisine Chef of the Year’, ‘Valrhona Pastry Chef of the Year’, ‘Sub-Zero & Wolf Food & Beverage Manager of the Year’, ‘Regional Cuisine Manager of the Year’, ‘A. Ronai LLC Restaurant Manager of the Year’, ‘Restaurant Host of the Year’, ‘Restaurant of the Year’ and ‘Regional Cuisine Restaurant of the Year’.
The two awards introduced at the festival’s fifth anniversary programme in 2013: ‘Best Use of Local Produce by a Chef’ and ‘Best Sustainability Practice Award’ are judged on separate criteria for evaluating and judging, and are aimed at encouraging the Abu Dhabi hospitality industry to increase awareness and use of fresh and organic local produce.
Winners will be announced during the glittering gala dinner on 19 February at the newest addition to Abu Dhabi city’s iconic skyline, the five-star The St. Regis Abu Dhabi, that draws the curtain on the festival’s sixth showing.
Ticket reservations for the Awards Gala dinner will open early January through www.gourmetabudhabi.ae

ABOUT GOURMET ABU DHABI:

Gourmet Abu Dhabi was conceived to serve as a focal point in the emirate’s drive to be internationally-recognised as a leading global gastronomy destination. With an operational mandate to foster increased service standards in the food and beverage industry, the event incorporates industry-leading restaurants as well as new additions to Abu Dhabi’s rapidly maturing fine dining scene.
As the event has evolved, it has also been used to highlight the increasingly diverse fine dining options available across the emirate’s world-class portfolio of hotels. More recently, Gourmet Abu Dhabi has been utilised as a vehicle to promote traditional Emirati cuisine and cooking techniques to participating international masterchefs and diners.

publié le 1 May 2010

First Armani Hotel Opens in Dubai

[#it took a little longer than expected but the first Armani Hotel has opened in the world’s tallest building, the Burj Khalifa tower in Dubai. The hotel is the first landmark tenant in the building. The 160-room hotel marks the Italian designer’s first foray into the hotel business.
#]

[#Every bit of the hotel’s design was overseen by Armani and is a consistent vision of his neutral, minimalist luxe style. The staff wear Armani suits and dresses. The hotel is designed to be exclusive and only those who have room or restaurant reservations can gain access to the area of the Burj Khalifa that houses the hotel. Your stay comes with the sevices of a "lifestyle consultant," a personal concierge who sees to all your needs. Such fine digs will cost you. Rates start at $750 and night and a suite can run you $2,500 although opening specials in the fast rising heat of late spring will net you a studio for $550 and an Armani Signature Suite for $2,200. Restaurants include Armani/Amal, offering Indian food with modern presentation, Armani/Hashi for sushi and Japanese plates, and Armani/Peck, an Italian style deli. Click through after the jump for a look at the Armani hotel, a space that seems very true to the look of Armani’s existing boutiques and restaurant offerings.#]

publié le 11 January 2009

FIRST ATTEMPT FROM OMAN TO SAIL ROUND THE WORLD TO DEPART TOMORROW FROM MUSCAT

[#Oman Sail’s 75-foot trimaran ’Musandam’ is ready to depart on her circumnavigation of the globe under the new colours of Oman and with a 5-man crew, including Mohsin Ali Al Busaidi, who is to attempt to become the first ever Omani to sail around the world. Weather dependent, Musandam will depart Marina Bander Al Rowdha for the start line tomorrow, Thursday, 8th January 2009 at 1400hrs.

In their first attempt to sail Musandam non-stop from Muscat to Muscat, Mohsin and the international crew on Musandam are likely to sail over 40,000 kilometres via the Indian Ocean and the three great Capes of the Southern Ocean - Cape Leeuwin (south-west tip of Australia), via the Cook Straits (NZ) to the notorious Cape Horn (tip of South America) and Cape of Good Hope (southern tip of South Africa) before turning left and heading back towards Muscat. The five crew will endure the calms and heat of the tropics for only ten percent of the journey and will spend the majority of the trip in the freezing and hostile Southern Ocean where temperatures, with wind chill, will regularly be below -10oC.

To find out more about the trimaran Musandam, log on to the Oman Sail website at www.omansail.com and read below the latest news from crew member Charles Darbyshire about their departure plans and some of the weather they expect to encounter en route
Musandam crew:
Loik Gallon (FRA) - Skipper
Mohsin Ali Al Busaidi (Oman)
Thierry Duprey Du Vorsent (FRA)
Charles Darbyshire (GBR)
Nick Houchin (GBR)

Q: Is Musandam ready to go? What is left to do before departure?

Charles Darbyshire: Musandam is ready to leave! Everything that is needed for the round the world trip is onboard. A few days before the team broke up for a two-week Christmas break, the tool boxes and spares boxes were sealed with a cable tie to stop anything being used from our onboard kit - a sure sign we are nearing the end of our preparation. The last things to be added in the days before the boat’s departure on 8th January will be the food, and personal clothing and possessions. Over the Christmas break although divided by many thousands of miles a common thought has been lurking in the back of everyone’s mind - what else... What else do we need to do, what else may we have missed, what else could be done to make life better onboard, more reliable, more comfortable... The odd phone call or email between the team to exchange these ideas calms the mind.

The food is all packed up having been planned and assembled by Diane Johnson a nutritionist, and her husband Tim. Imagine shopping for five people for 80 days - everything from main meals (all freeze-dried, of course, just add hot water to re-hydrate!) to snacks, sweets, drinks, toilet and kitchen roll. It all needed to be listed, purchased and bagged up. We are taking enough food for 80 days - each day there is just 5kg of food for the crew, consisting of two main meals, a sweet desert, drinks, breakfast and snack bars. Something around 4000 calories per day for the hot sections of the race course (the first and last third approximately) and raising to around 6000 calories for the Southern Ocean. If it’s not in the bags when they get loaded on the 6th of January then it’s not going round the world, we can’t go and shop for something, we can’t get something delivered - if it’s not onboard we’ll manage without it.

Q: What is the weather pattern you expect on departure and outline the weather Musandam will experience round the world?

For now it’s still a bit too early to tell what the exact weather will be like for our departure - but we will get an accurate picture within a few days of the start. But the northern part of the Indian Ocean is notorious for it’s light airs - the Volvo Ocean Race fleet passed somewhere similar four weeks ago, and one of their powerful boats got stuck for two days - managing just 60 kilometres in one 24-hour period -something we’ll be looking to avoid if possible! Heading down the Indian Ocean our first major challenge is where to cross the famous Doldrums - a wide band of light airs where Trade Winds from the northern hemisphere meet with those from the southern hemisphere - a vast melting pot of opposing winds that cancel each other out - and towering thunder storm clouds that move masses of air in each squall - we’ll have to be fast to react to those, and change sails quickly.

Once through we are off south - via a blocking high pressure system that sits to the south west of Australia - its exact location changes often. Forecasts will show tempting holes to pass through only to close again with a new forecast update (every 6 hours there is a new forecast). This will be the final hurdle before the great expanse of the Southern Ocean - where waves circle the globe unopposed by land, they gather speed and size from each storm. Eight and 10 metre high waves are not uncommon! The Vendée Globe fleet (solo round the world racers) are there right now, and this ocean has claimed a few casualties - two dismastings, capsizes and a broken leg give a chilling reminder that nothing can be taken for granted. Solo sailing in the Southern Ocean is a different sport though and although it will be a real challenge for Musandam and us - the freezing temperatures, rain, snow and huge waves - we will have each other so share our concerns and fears. Five crew, all reliant on each other, is such a different prospect from tackling this ocean single-handed. When we see our first albatross, our first really big wave or our first big storm we’ll share it together knowing we are not alone, we have each other.

For anyone that has grown up sailing, the Southern Ocean is a pinnacle, though to be there day after day will be wearing. Meeting up with some old sailing friends during the last few days they all agreed they’d love to go there for an afternoon’s blast - spending 4 or 5 hours surfing down the big waves, but not more after 4 hours, then they would be cold, a bit damp, and ready for a hot drink, good food, and a comfortable bed! We will have this day after day for something like 30 days. It really is the ultimate challenge.

To read more about the challenge facing Musandam’s crew and race Mohsin around the world on your own computer boat, log into http://www.omansail.com

To download these images and others, please go to the Oman Sail online Media Zone: http://media.omansail.com. You need to fill out the online accreditation form online to access these images which you can do by going to this link.

To unsubscribe or to change the frequency of the updates you are receiving, please email your request to salim@omansail.com

For further press information, please contact:
Emily Caroe
International Media Manager
Mobile Number:+44 7785 565929
Email: emily@omansail.com
For further information on Sultanate of Oman, Ministry of Tourism, _ _ _ please contact:
Peter Keage
T: +968 96624487
E: peterk@omantourism.gov.om

Notes to Editors :

About the 75-foot trimaran ’Musandam’ round the world attempt :

Mohsin Al Busadi will now join professional French sailors Loik Gallon (skipper) and Thierry Duprey and British sailors Charles Darbyshire and Nick Houchin on the 75-foot trimaran in an attempt to sail the boat round the world from Muscat on 8 January 2009, past the world’s Great Capes, around Antarctica before returning to Muscat. The 23,000 mile journey will be strewn with danger from icebergs to 50-foot waves in the Southern Ocean. If successful, the circumnavigation is anticipated to take between 80-100 days. Up until 15 years ago, no one had ever completed a non-stop round the world journey aboard a sailing multihull and still today it remains the hardest challenge a sailor can ever dream of tackling. Fewer than 20 boats have succeeded and one of the most famous of them all, Ellen MacArthur’s former Castorama trimaran, is now about to set off around the planet once more, this time under her new name Musandam and flying the colours of the Sultanate of Oman.

About the Extreme 40 ’Masirah’ programme:

The Extreme 40 Masirah finished in 4th place overall in the 2008 iShares Cup and then won the Arabian Extreme 40 Challenge that took place in Dubai and Muscat in early December 2008. Masirah will again compete in the 2009 iShares Cup series, but with the aim that for this series one member of the crew drawn from the Oman Sail Racing Team. The 2009 series will be hosted across five different European countries including the UK, France, Germany, The Netherlands and Switzerland.

About the Arabian 100:
The first of the new One Design Arabian 100 trimarans will join Musandam in future ocean challenges. The components of the first Arabian 100 are being built at Boatspeed in Sydney (Australia) using the same moulds as the 105’ Sodeb’O trimaran [Sodeb’O is currently attempting a solo round the world circumnavigation to beat the existing record held by Francis Joyon], and assembly will take place in Salalah, Oman next summer. #]

publié le 19 December 2010

First French sukuk seen early 2011

[#The first Islamic bond, or sukuk, issue out of France could happen early next year, the chief executive of the French Deposits Guarantee Fund, said on Wednesday.#]

[#In the beginning of 2011 we could see the first French sukuk under French law,’ Thierry Dissaux said at a conference in Dubai, without elaborating on details. At least one French Islamic corporate bond, or sukuk, had been expected in 2009 but was delayed by legal hurdles#]

publié le 22 October 2010

France in focus for Al Baraka in 2011


[#Al Baraka Banking Group has confirmed its plans to open in France, saying it will open up five branches in metropolitan France from 2011#]

[#Press reports in France claim that Al Baraka Chief Executive Adnan Yousif confirmed the bank’s intentions to establish a presence in the country. The news that Al Baraka Banking Group plans to set up in France follows two years of activity by the French authorities aimed at attracting Islamic banking institutions. Al Baraka itself has been involved in a feasibility study which began in 2009.

The extension of the Bahrain-based bank’s international network, including Malaysia and Indonesia, will be financed by issuing a $200 million Sukuk which should come to market in December. Al Baraka has selected Deutsche Bank and Standard Chartered as advisers.#]

publié le 23 March 2016

France Ranks Sixth in the MasterCard-CrescentRating Global Muslim Travel Index 2016

France is the sixth most popular destination in the global Muslim travel market, according to the most comprehensive research released on this the sector.
The MasterCard-CrescentRating Global Muslim Travel Index (GMTI) 2016, which covers 130 destinations, saw France drop one position from last year on the list of non- Organisation of Islamic Cooperation (OIC) destinations.

Singapore retained its pole position for the non-OIC destinations, which also saw Thailand, UK, and South Africa take the top spots with Hong Kong taking the fifth position.

Malaysia kept hold of the top spot for OIC destinations with UAE moving up to second place while Indonesia jumped two places to take the fourth spot.

The study also revealed that in 2015, there were an estimated 117 million Muslim visitor arrivals globally, representing close to 10 percent of the entire travel market. This is forecasted to grow to 168 million visitors by 2020 equal to 11 percent of the market segment with a market value projected to exceed US$200 billion.

Asia and Europe were also revealed as the two leading regions in the world for attracting Muslim visitors - accounting for 87 percent of the entire market.

"The MasterCard-CrescentRating Global Muslim Travel Index 2016 has now become the number one tool for destinations around the world to realign their strategies to reach out to the Muslim consumer. One of the biggest trends we are seeing is non-OIC destinations making a concerted effort to attract the Muslim tourist and they now represent over 63 percent of the destinations covered in the GMTI. For example, Japan and Philippines have taken some major steps over the last few months to diversify their visitor arrivals and boost their economy in the process," said Fazal Bahardeen, CEO of CrescentRating & HalalTrip.

"Many already successful destinations around the world are looking to diversify their visitor base to maintain tourist growth rates in today’s increasingly competitive travel market. The fast growing Muslim travel segment is an opportunity in plain sight but in order to benefit from it, it is crucial to understand the needs and preferences of Muslim travelers and how to adapt and tailor products and services for them. We believe that the GMTI provides real value to businesses and governments looking to tap into this important market segment," said Matthew Driver, Group Executive, Global Products & Solutions, Asia Pacific, MasterCard.

The GMTI 2016 is the most comprehensive research available on one of the fastest-growing tourism sectors in the world, which represents 10 percent of the entire travel economy.

The GMTI looks at in-depth data covering 130 destinations, up from 100 in 2015. This is the first time such thorough insights have been provided on one of the world’s fastest-growing tourism sectors.

The Index helps destinations, travel services and investors to track the health and growth of this travel segment while benchmarking their individual progress in reaching out to this growing market.

All 130 destinations in the GMTI were scored against a backdrop of criteria that included suitability as a family holiday destination, the level of services and facilities it provides, accommodation options, marketing initiatives as well as visitor arrivals.

Each criteria was then weighted to make up the overall index score. This year, two new criteria - air connectivity and visa restrictions - were added to further enhance the Index.

France had an Index score of 51.6 placing it 32nd in the overall combined ranking. Singapore scored 68.4 with Thailand posting 59.5. Malaysia had an Index score of 81.9 placing it at the top position in the overall combined ranking.

The overall average GMTI score for the complete 130 destinations currently stands at 43.7. From a regional perspective, Asia Pacific destinations lead with an average GMTI score of 56.5.

About CrescentRating Pte Ltd

CrescentRating is the world’s leading authority on halal-friendly travel. The company’s vision is to lead, innovate and drive this segment through practical and deliverable solutions in what is regarded today as one of the fastest growing segment in the tourism sector. The company uses insight, industry intelligence. lifestyle, behaviour and research on the needs of the Muslim traveller to deliver guidance on all aspects of halal-friendly travel to organisations across the globe.

CrescentRating’s services now include rating & accreditation, research & consultancy, workshops & training, ranking & indices, event support/partnerships and content provisioning.

Website: http://www.crescentrating.com

Twitter: http://twitter.com/crescentrating

LinkedIn: https://www.linkedin.com/company/crescentrating

About MasterCard

MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 destinations and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardAP and @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.

publié le 19 January 2014

Freehold Title deeds for all investors in Abu Dhabi Investment Zones

presse release

The Abu Dhabi City Municipality today announces that it has registered Musataha contracts (land development contracts) for residential units of Aldar Properties P.J.S.C. located within Investment Zones. These units will be registered under the Freehold Law of the Emirate of Abu Dhabi, and accordingly property ownership deeds will be issued to investors owning these units.

This law applies to all owners in Aldar Investment Zone properties and owners will be able to apply for freehold title deeds through Abu Dhabi City Municipality. This is an important step in the strategic plans aimed at enhancing the property market for investors in Abu Dhabi as well as supporting the economic vision of Abu Dhabi 2030.

Owaida Al Qubaisi, Acting Executive Director of Municipal Services Sector, Abu Dhabi City Municipality, said: “These services reflect the rising demand for owning high quality residential units in Abu Dhabi. Musataha contracts allow for the acceptance of applications from property developers within Abu Dhabi Investment Zones, besides issuing all documents necessary for obtaining free hold deeds.”

Al Qubaisi added, “The cooperation between Abu Dhabi City Municipality and Aldar Properties aims to streamline the registration, attestation and delivery of title deeds of residential units within the Investment Zones of Aldar Properties, and step up joint cooperation in the interest of all residents, thus better organizing the real estate market in Abu Dhabi Emirate. The Municipality stands ready to lend support and assistance to Aldar Properties, as well as other property developers, towards facilitating the processing of title deeds of residential units in a civilized manner that fulfills the objectives of the comprehensive urbanization drive in Abu Dhabi and the applicable governing rules.”

Commenting on the agreement H.E. Abubaker Seddiq Al Khoori, Chairman of Aldar Properties PJSC, said, "This marks the launch of a very important phase in the development of the real estate market in Abu Dhabi, a phase which presents us with new opportunities for growth and development offered by Abu Dhabi’s economy. We believe in Aldar Properties that attracting long-term foreign investors will bring great benefits to Abu Dhabi in particular and to the UAE in general so that we can continue our path of construction and development.”

He added, " On behalf of Aldar, I would like to extend our sincere gratitude to Abu Dhabi City Municipality and to all the parties concerned who contributed to this great achievement which serves to enhance the sustainable growth we are currently witnessing in the real estate sector in the country."

Meanwhile, Aldar Properties’ Deputy CEO, Mohammed Khalifa Al Mubarak commented, "This step will carry a direct and positive impact on all investors and stakeholders within the real estate sector. It is an important move to further develop the real estate market in Abu Dhabi, and comes in response to the growing demand we are witnessing today for high-quality residential units offered by Aldar Properties."

In the same context, Hussain Al Junaibi, Director of Real Estate, Abu Dhabi City Municipality, said that the Municipality had previously cooperated with a host of property developers including Tamouh, the main developer of Al Reem Island, in registering title deeds of residential and commercial units of Marina Square Project at Al Reem Island, besides cooperating and supporting property developers generally.

"The Municipality is keen to maintain and boost cooperative relationships with leading national entities and firms operating in the property development sector, in line with its objectives of delivering quality and effective services," said Al Junaibi in a final remark.

publié le 22 February 2009

Global crisis ’will be good for UAE property sector’

[#The global financial crisis will ultimately be good news for the UAE’s real estate market, a prominent Dubai businessman said on Thursday.

Abdullah Al Harbi, CEO of Eye of Dubai, a company that promotes the emirate to investors across a range of industries, said the six-year boom had created a "number of small and, in some cases, unscrupulous real estate developers springing up everywhere".

He claimed people who were hairdressers or valets one week had set up as real estate developers the next without the necessary capital to support their ventures.
Story continues below ↓
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"The fact that many of the people starting up these companies were either inexperienced in the market...or just plain unscrupulous and looking to make a quick buck, meant that not all projects that had been launched had necessarily been properly planned, which is just a recipe for disaster, and sooner or later something was going to give," he said.

"I believe that although the global financial crisis may have set off the correction that is now taking place in the market,it was unavoidable and it would have happened eventually.

"Looking at it like that, it is better that it is happening sooner, so that Dubai, in particular, can now develop a more realistic and mature property market that will stand firm and continue to grow for many years."

Al Harbi’s comments came following the International Property Show 2009 (IPS 2009), which took place in Dubai earlier this week.

"Property shows such as IPS 2009 are really important to show investors and others that the real estate market in Dubai, and the region in general, is still strong, and that there are many projects that are still going ahead that are good investment prospects," he added.#]

publié le 13 January 2013

Global economy on recovery course in 2013 but risks remain says Barclays

press release

[# Barclays revealed its January 2013 edition of “Compass”, a monthly flagship of Wealth and Investment Management research dedicated to providing investment advice and recommendation to investors across the region.#]

[#
The report advises investors who continue to face several very visible uncertainties in 2013, which includes: the resolution of the US ‘fiscal cliff’, the on-going euro crisis, and a rebalancing of the Chinese economy. Nonetheless, Barclays regional strategists believe that investors’ portfolios should be positioned with a unifying theme in mind: the overall outlook for the global economy and for risk assets which is slowly but gradually improving.

Kevin Gardiner, Head of Investment Strategy EMEA, for the Wealth and Investment Management division at Barclays, said: “As the cloud begins to lift in 2013, we continue to favour equities and high-yield credit, and recommend smaller than usual positions in cash and especially developed government bonds. We do not expect a major government to default on its obligations, but bonds look very expensive.”

Despite a likely tumultuous start to the year, the opportunity set in 2013 for investors looks compelling. Gardiner recommends that investors’ should focus particularly on small and mid-cap US stocks, as earnings continue to grow faster. With a supportive environment – including the on-going measures by The Federal Reserve, European Central Bank, and the Bank of Japan, investors should be overweight on Developed Market Equities.

The Euro zone economy is likely to remain laggard in 2013. The sheer uncertainty surrounding the single currency is affecting business and consumer confidence, particularly in countries undergoing the most stringent fiscal retrenchment (In particular, Italy and Spain, which both seem set to shrink even further in 2013).

“Although the immediate fortunes of Asia’s economies continue to ebb and flow – buffeted by the global economic tide – the region’s overall growth story remains intact. China, India and Indonesia have intensified efforts to restructure their economies, shifting from investment-led expansion to a more consumption-driven growth model, and we believe these efforts will begin to bear fruit in 2013 and beyond. Despite divergent strategies, Asian economies are well-positioned to capitalize on improvements on the horizon for the global economy”, he concluded.

About Barclays

Barclays moves, lends, invests and protects money for customers and clients worldwide. With over 300 years of history and expertise in banking, we operate in over 50 countries and employ over 140,000 people.

Our customers and clients benefit from access to the breadth of expertise across Barclays. We’re one of the largest financial services providers in the world, engaged in retail banking, credit cards, corporate and investment banking, and wealth and investment management.

We are a leading global wealth and investment manager providing international and private banking, wealth planning, trust and fiduciary services, investment management, brokerage services and research to private and intermediary clients around the world.#]

publié le 10 January 2010

Government Media Office Established 
in Dubai

[#His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued a law establishing the Dubai Govt Media Office.#]

[#The new unit, which will be annexed to the Dubai Ruler’s Court, comes within efforts to enhance channels of communications with the local, Arab and international media community and mobilise resources for conveying an accurate image of events in Dubai and delivering the Dubai message in a clear, objective and effective style, on par with the highest of international standards.

Shaikh Mohammed also issued a decree appointing Ahmed Abdullah Al Shaikh, Media Escort to Shaikh Mohammed, as Director-General of Dubai Government Media Office.

The law stipulates that Dubai Press Club, Falcon and Associates, and Dubai Media Affairs Office (Brand Dubai) will also come under the umbrella of the Dubai Government Media Office. Brand Dubai was created in June to preserve Dubai’s image while Falcon and Associates, created the same month and also headed by Ahmad Abdullah Al Shaikh, can establish and own media-related commercial institutions.

Both the law and the decree are effective immediately.

All these units will join forces to ensure coordination in auditing information and standardising media messages. It will be a dynamic official channel and serve as a focal point for local, regional and international media outlets for information regarding the Ruler and Government of Dubai and ensure delivery of facts without ambiguity.

The new unit will coordinate with government departments to provide the media with news on activities 
of Shaikh Mohammed and Government of Dubai and organise press conferences of the Ruler and the Government.#]

Wam

publié le 9 September 2010

Grand Millenium Dubai to host a grand opera evening

[#A grand gourmet evening, a grand venue and a grand performance are promised by management at the Grand Millennium Dubai which is to host an opera gala on October 28 with a performance by the European Chamber Opera (ECHO) under the direction of artistic director, Stefan Paul Sanchez.#]

[#One of Europe’s most reputed touring opera production companies, ECHO has nearly two decades of experience bringing the drama and vocal perfection of opera to new audiences in the US, Europe, the Far East and Middle East, operating under the patronage of famed Spanish soprano, Montserrat Caballe.

Artistic director, Stefan Paul Sanchez trained as a singer and pianist at the Royal Academy of Music in London and was principle baritone for New Sadlers Wells Theatre prior to founding of ECHO in 1991, since when he was made associate of the Royal Academy in recognition of services to music.

His aim was give top stars of tomorrow vital experience in new environments, stressing dinner opera as a key staple of ECHO’s programme, where productions from the company’s principal repertoire have been specially redesigned for the more intimate surroundings of a grand hotel ballroom.

According to hotel general manager, Peter Mansourian, the experience is one that will assail all the senses, combining gourmet cuisine with the delights of a professional opera performance drawn from the greats of the 18th and 19th century.

“The invitation only event will be a grand affair, one we are sure will delight our guests and clients,” he said. “The Al Thuraya venue on the 20th floor offers a stunning setting, starting with panoramic views during cocktails and then moving on to a sumptuous ballroom showcase that is entirely complementary to the evening’s entertainment.”

Part of the proceeds from the evening will be donated to Al Noor Training Centre for Children with Special Needs Currently the Centre serves 265 children.

Located near the Sheikh Zayed Road in Dubai, the hub for business and retail opportunities, the Grand Millennium Dubai is equally convenient for beach, golf and city, just 20 minutes’ from the international airport and adjacent to the Dubai Metro.#]

publié le 1 November 2010

Grand Millennium Dubai to host a grand opera evening

[#Prestigious European touring group will hit the high notes in the sumptuous 20th floor environs of the Thuraya Ballroom#]

[#A grand gourmet evening, a grand venue and a grand performance are promised by management at the Grand Millennium Dubai which is to host an opera gala on October 28 with a performance by the European Chamber Opera (ECHO) under the direction of artistic director, Stefan Paul Sanchez. Chocoa and Al Habtoor Leighton are the main sponsors of the event while the support sponsors are Aggreko, Royal Gass and Jonson Diversy.

One of Europe’s most reputed touring opera production companies, ECHO has nearly two decades of experience bringing the drama and vocal perfection of opera to new audiences in the US, Europe, the Far East and Middle East, operating under the patronage of famed Spanish soprano, Montserrat Caballe.

Artistic director, Stefan Paul Sanchez trained as a singer and pianist at the Royal Academy of Music in London and was principle baritone for New Sadlers Wells Theatre prior to founding of ECHO in 1991, since when he was made associate of the Royal Academy in recognition of services to music.

His aim was give top stars of tomorrow vital experience in new environments, stressing dinner opera as a key staple of ECHO’s programme, where productions from the company’s principal repertoire have been specially redesigned for the more intimate surroundings of a grand hotel ballroom.

According to hotel general manager, Peter Mansourian, the experience is one that will assail all the senses, combining gourmet cuisine with the delights of a professional opera performance drawn from the greats of the 18th and 19th century.

“The invitation only event will be a grand affair, one we are sure will delight our guests and clients,” he said. “The Al Thuraya venue on the 20th floor offers a stunning setting, starting with panoramic views during cocktails and then moving on to a sumptuous ballroom showcase that is entirely complementary to the evening’s entertainment.”

Part of the proceeds from the evening will be donated to Al Noor Training Centre for Children with Special Needs Currently the Centre serves 265 children.

Located near the Sheikh Zayed Road in Dubai, the hub for business and retail opportunities, the Grand Millennium Dubai is equally convenient for beach, golf and city, just 20 minutes’ from the international airport and adjacent to the Dubai Metro.#]

publié le 12 February 2012

Grand Millennium Dubai to Tap European Market at ITB 2012

[#A delegation from the Grand Millennium Dubai, led by its Director of Sales, will be participating in the International Tourism Bourse (ITB) 2012, the world’s biggest travel and tourism exhibition, being held in Berlin from March 7 to 11.#]

[#"It’s important for us in the hospitality sector to keep our ear to the ground if we are to understand global travel trends, both for business and leisure. ITB Berlin is the ideal forum to touch base with travel agents and tour operators from over 180 countries around the globe,” observes Peter Mansourian, General Manager of the Grand Millennium Dubai. 
“Europe is a growing feeder market that’s important for us and since this is the contracting season it’s crucial for us to be in Berlin at this time,” comments Peter.
The hotel will be part of the DTCM stand this year. “Dubai’s Department of Tourism and Commerce has been leading strong delegations to the show for over two decades and has helped establish the UAE as one of the best tourism destinations in the world,” he explains.
According to Peter, things are looking up for the hospitality sector this year with hotel occupancy levels showing a rising trend since January and STR Global reporting an average 8-9% rise in RevPar in 2011.
“The success of a hotel depends on accessing both the business and leisure markets. We are ideally suited to support the UAE’s tourism thrust, considering we are a prime five-star property strategically located in the heart of new Dubai,” he adds.
The 343-room Grand Millennium Dubai, part of the Millennium & Copthorne Hotel group, offers an outstanding guest experience at a competitive price to both international and regional visitors with its range of leisure and meeting facilities, restaurants and bars, swimming pool and other amenities.
For more information about the hotel visit http://www.grandmillenniumdubai.com
#]

publié le 7 November 2010

Gulf returning to solid growth path

[# The Institute of international Finance have published a report called
Gulf Cooperation Council Regional Overview.The report said that the GCC region is returning to solid growth, underpinned by higher oil prices that are supporting robust government spending and exports. Real GDP is projected to increase by 4.0% in 2010 and 4.6% in 2011.
#]

[#Credit growth has remained weak more than two years into the crisis due to increased provisioning for NPLs and weak private sector demand. The combined current account surplus is projected to widen from $62 billion in 2009 to $119 billion in 2010 and $134 billion in 2011. The region’s gross foreign assets will rise to $1.7 trillion by end-2011. Further strengthening of banks’ balance sheets is a key precondition for a recovery in credit growth. Beyond the short term, the region will need to find new growth engines through further diversification of the economy and enabling an autonomous and more dynamic private sector.

Inflationary pressures are generally limited as further declines in rents in the UAE, Qatar,
and Kuwait (an important component of the CPI) persist. The consolidated current
account surplus is projected to widen from $62 billion in 2009 to $119 billion in 2010 and
$134 billion in 2011 mainly due to firmer oil prices. As a result, the region’s gross foreign
assets will rise to $1.7 trillion by end-2011. Slightly more than half of these assets are in
the form of Sovereign Wealth Funds (SWFs). With relatively little external debt, the region’s
net foreign assets position of $1.2 trillion (equivalent to 113% of GDP) is substantial.#]
The Institute of international Finance

publié le 2 May 2011

HH Sheikh Maktoum Opens Arabian Travel Market

Press release

[#HH Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, today officially opened Arabian Travel Market 2011, in the presence of senior government officials, leaders of the regional and international travel industry and high profile exhibitors participating in the event.#]

[#The event programme for day one of ATM gathers some of the largest travel and tourism organisations in the Middle East and internationally, from both the public and private sector. HH Sheikh Maktoum toured the exhibition floor, which featured local and regional representatives including Dubai’s Department of Tourism and Commerce Marketing, Abu Dhabi Tourism Authority, the Saudi Commission for Tourism and Antiquities, the Egyptian Tourism Authority and the Bahrain Ministry of Culture.

“Regional inbound and outbound tourism professionals are currently riding a wave of optimism, especially in the United Arab Emirates and Saudi Arabia. Recent estimates for hotel occupancies in both countries suggest a healthy double digit increase, according to industry professionals. Naturally, Qatar will provide a lift for the whole region as infrastructure projects begin in earnest, in preparation for the FIFA World Cup 2022,” said Mark Walsh, Group Exhibition Director, Reed Travel Exhibitions.

ATM also features representatives from other key areas of the globe, including some of the largest travel and tourism organisations in Europe, Asia, the US and South America. Among international officials participating in the event are Alain Azouaou, Ambassador, French Embassy Abu Dhabi and Gonzalo De Benito Secades, Ambassador of Spain.
Jean-Paul Tarud Kuborn, Chilean Ambassador to the UAE, also joined senior figures from tourism ministries in Cyprus, Malaysia and the Philippines.

ATM is a comprehensive four-day travel trade event, held from 2-5 May 2011, comprising an exhibition, conference and seminar programme, which this year is sponsored by new exhibitor, the Mexico Tourism Board, along with specialist industry days including travel agents day, careers day and consumer day.

Topics on day one included the luxury travel sector, aviation, the future of travel and hotel concepts of the future. Speakers include some of the region’s most influential business leaders, including Tim Clark, President, Emirates Airlines, Adel Ali, Group Chief Executive Officer, Air Arabia and Helen Beck, Director of EMEA, Royal Caribbean International.

Highlights of the sessions tomorrow will include the cruise sector, green initiatives, Middle East tourism trends along with technology and online marketing.

With a diverse range of international participants, ATM unlocks business opportunities within the Middle East for inbound and outbound tourism professionals.

Arabian Travel Market is held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai. Now approaching its eighteenth year, the show has grown to become the largest showcase of its kind in the region and one of the biggest in the world. In 2010, Arabian Travel Market featured 2,236 exhibitors across more than 20,000 square metres, attracting more than 22,000 visitors.

The ATM exhibition, spanning more the 20,000 square metres of floor space and over 2,200 exhibitors, showcases a broad range of accommodation options, tourism attractions, new airline routes and travel technology.#]

publié le 3 January 2012

HMH – Hospitality Management Holdings Targets Growth in Saudi Arabia Following Regional Sales Meeting

press release

[#With 12 hotels and 38 per cent of its portfolio concentrated in Saudi Arabia, HMH – Hospitality Management Holdings is focusing on the Kingdom as a major growth area – a message drummed home at a regional sales meeting held at the Coral Hotel Dhahran in the Eastern Province.#]

[#[#Hosted by HMH Regional General Manager, Rushdi Al Ashkar and Regional Director Sales & Revenue Management, Sadiq Iqbal, the event brought together 30 sales and revenue team members as well as general managers of the Coral International Hotel Al Khobar, Coral Hotel Dhahran, Coral Beach Hotel Jubail and the EWA Executive Hotel Apartments.

“Although HMH has only been operating in Saudi Arabia for five years, starting with the launch of the Coral International Hotel Al Khobar, we have already established a firm reputation for quality and international standards, while competing with exceptional value rates,” said Mr Al Ashkar.

“With eight hotels under development, giving us an exceptional network across the Kingdom, the stage is set for HMH to become one of the leading players in the hospitality sector in the country poised to become one of the most dynamic in the region.”

Among the topics under review at the workshop were local issues with confirmations and cancellations, sales and booker incentives and development plans, as well as plans for road-shows and travel exhibitions.

Focusing on revenue management, Mr Iqbal reviewed sales consolidation initiatives and introduced new reporting guidelines aimed at monitoring the performance of sales, reservations and revenue team against their individual goals and yearly hotel budgets.

“With the help of these reports, general managers and sales heads will be able to track hotel sales performances against business and financial budgets and provide assistance to meet any shortfalls or deal with exceptional trading circumstances,” explained Mr Iqbal.

HMH will open its second Corp Executive Hotel in Saudi Arabia this year, in Al Khobar, as well as new Coral Hotels in Dhahran and Jeddah, and is also looking at potential for its ECOS ‘green’ brand.

“While facilities and services are key, we are reliant on our sales teams for business at our hotels, and were delighted with the response at the workshop, underlining the overall corporate commitment to success,” concluded Mr Al Ashkar.

For more information about Coral Hotels & Resorts visit http://www.coral-international.com
#]#]

publié le 11 November 2010

Holiday inn Dubai - Al Barsha offers festive from around the world

[#With a venue and a celebration for every taste, the hotel serves up a complete menu of Christmas and New Year promotions.
Capitalising on its array of restaurants, the Holiday Inn Dubai – Al Barsha has designed an extensive package of dining, overnight and stay-at-home treats for guests and residents this year, to ensure there is something for every taste.
#]

[#Kicking off the festive season, there is a Yuletide carol celebration with traditional songs sung by the hotel’s own Christmas choir, while the Xmas House in the lobby has a selection of cookies, ginger houses and live cooking stations creating a true festive mood.
Those staying at home with friends and family can take the strain out of the holidays with a take-away turkey, roasted to perfection and complete with stuffing and all the trimmings – prepaid orders should be made 48 hours in advance.

On Christmas Eve, dinner in The Gem Garden features a convivial buffet enhanced with carol singing and a great value cost of just AED195 per person, inclusive of house beverages, while a Christmas Day buffet lunch offer the bonus of a visit from Santa Claus for the same price.
Even more tempting is the stopover package – a AED1,400 price tag for a double room plus dinner at The Royal Buddha, a memorable treat for those seeking a hassle-free Christmas or New Year.
As the bells ring in the New Year, the Holiday Inn Dubai – Al Barsha also has a variety of tempting offers from around the world, including a Lebanese buffet at Al Sarab with dancing and live entertainment as well as the best of Lebanese cuisine, priced at just AED650 per person inclusive of house beverages.

A Thai dinner buffet at Royal Buddha costs AED450 per person, again with free house beverages and the a selection of Thailand’s finest dishes, while the Gharana is serving up an Indian buffet at its Bollywood Night, complete with live entertainment in true Bollywood style – price here is AED350 per person.
Those who like variety can take advantage of the All-You-Can-Eat New Year’s Eve offer at Sushi Folie for AED 175 per person inclusive of two glasses of house wine.
According to general manager, Reda Moukhtar, the wide selection of promotions has been devised to offer diners a choice of how and where to celebrate: “We know Dubai is home to an array of nationalities and we aim to ensure at the Holiday Inn Dubai – Al Barsha that there is a festive favourite on the menu for everyone,”#]

For more information and reservations,
please visit www.hialbarsha.com

publié le 6 January 2011

Holiday Inn Dubai - Al Barsha Hotel Receives International Award in Cairo, Egypt

[#The annual Star Performers Awards was recently held in Cairo, Egypt and at the gala event InterContinental Hotels Group (IHG) recognised hotels and people for their outstanding performance and contribution to the business and the local community in which they operate. The winners are chosen from thebest performing hotels of IHG’s 700 hotels across Europe, Middle East and Africa.#]

[#At the awards held at City Stars Complex, the first integrated urban development in the Middle East with three IHG hotels on the impressive site, Holiday Inn Dubai Al Barsha located in Dubai was awarded the Quality Excellence Award.

The Quality Excellence Award recognises hotels that excel in delivering the best guest experience and satisfaction.

Mrs. Roxana Jaffer, Resident Director, of Holiday Inn- Dubai Al Barsha visited the capital of Egypt, to accept the award and said “This award recognises all the hard work and team effort we’ve put in this year. We’re constantly striving to go the extra mile so guests can expect a consistently top notch experience when visiting our hotel and we’ll continue to work together to keep delivering the same experience each year.”

Kirk Kinsell, IHG’s president Europe Middle East & Africa said, "We are fully committed to supporting and developing our people; our hotels are only as good as the people working in them. We aim to provide the right environment, support and inspiration they need to fulfil their capability and these awards are a reflection of the fantastic talent we have working in our hotels across Europe, Middle East and Africa.”

For more information about Holiday Inn Dubai Al Barsha please visit www.holidayinn.com#]

publié le 17 January 2016

Holiday Inn Dubai – Al Barsha Launches an Exclusive Club Floor & Club Lounge

press release

Holiday Inn Dubai – Al Barshalaunches an exclusive Club Floor & Club Lounge on 1st of January, 2016. Where classic elegance is articulated in eloquent style, comfort and luxury has to be lifted to its zenith.

A Full floor of 53 rooms from its portfolio of 309 elegant and contemporary rooms have been refurbished and upgraded to stylish and chic Club rooms. Bundled with exclusive benefits such as full day Club lounge access with culinary delica¬cies and beverages, happy hours, personalized treatment, and many more, the proposition of upgrading your stay a well as express check-in and check-out service at a dedicated desk is a very attractive proposition. Further, a blend of exceptional facilities, gorgeous amenities and highest quality of service makes Holiday Inn Dubai – Al Barsha the leading destination for international travelers. It is indeed a perfect destination for couples and business travelers to unwind and relax with an upbeat choice of in-house restaurants and bars, with close proximity to major Dubai local attractions.

The exclusive Club Floor & Lounge Special Privileges are:

UPGRADED ROOMS WITH:
• 42” In TV
• iPod Docking station
• Turn - Down service with special treats
• Daily Newspaper
• Nespresso Coffee
• Welcome Fruit platter
• Fresh Orange juice making facilities
• Special Amenities

USE OF CLUB LOUNGE:
• Express Check-in & check-out
• Conti Breakfast: 0630 - 1030 hrs
• Afternoon Tea: 1500 - 1700 hrs
• Happy Hours: 1800 - 2000 hrs (For guests 21 years +)

OTHER:
• Complimentary Laundry
• Departure Drop to the airport

About Holiday Inn Dubai – Al Barsha

Set in the heart of New Dubai, Holiday Inn Dubai – Al Barsha is a perfect blend of contemporary design and classic elegance. The hotel has 309 rooms including 54 suites. Each room is equipped with the latest facilities, tastefully decorated to meet every guest’s needs and comfort. Business houses have access to a wide variety of conference venues equipped with state-of-the-art technology. Completing the
Holiday Inn experience are the award winning restaurants “The Royal Budha” (Thai), “Gharana” (Indian) and “Xennya Terrace” (Rooftop Terrace) as well as bars, banquet facilities and impeccable service.

For more information please visit: www.holidayinn.com or www.hialbarshadubai.com
Find us on Twitter https://twitter.com/HolidayInnDubai or Facebook https://www.facebook.com/hidubai

From creative Thai cuisine at The Royal Budha, to traditional Indian experience coupled with enchanting live entertainment at Gharana, to an array of generous buffets at The Gem Garden, the hotel offers a variety of f&b options.

The Gem Garden | All Day Dining

All-day dining with a difference. The Gem Garden’s minimalist Zen styling is the ideal place any time of day or night. The food, on the
other hand, is anything but minimalist, with a combination of generous buffets and classic a la carte dishes.

The Royal Budha | Fine Dining -Thai - What’s On Award Winner
Award winning creative cuisine delivered in a stylish setting under the watchful eye of a towering Buddha makes this a royal treat. Situated
on the ground floor, this contemporary Thai restaurant is the perfect blend of tradition and innovation.

Gharana | Casual Dining - Indian
An experience of the Indian subcontinent through the kaleidoscope of elements of familiar monuments and the culinary tastes of that
region leads this restaurant to be labeled exotic with live entertainment.

The Q | Sports Bar

Suspended UV lit snooker cues add a dramatic feature in the ceiling to a fresh and modern monochromatic back drop. White floors and
walls, super comfy large black sofas and upholstered bar stools make this an ideal spot to watch your latest sporting events on massive
cinema screens around the circular bar.

Lounge@Barsha | Coffee Shop

Meet and Greet Lounge: PASTRIES & SPECIALITY TEAS
This elegant lobby lounge is ideal for business and social get-togethers. A selection of pastries, sandwiches and hot or cold refreshments
are served throughout the day.(Free wi-fi)

The Q Underground | Retro Venue
A chic underground spot where the most exotic elixirs are in free flow. A swell party venue to boot, football, cricket and Mardi Gras, get
shaken but not stirred. A favorite haunt for comedy, quiz, karaoke and salsa to make a buzzing carnival.

Xennya Terrace | Hubbly Bubbly Bar

Xennya on a higher level. This rooftop terrace overlooks Dubai’s mesmerizing skyline.
Make friends over amazing settings, fine wine and our generously stocked bar.
Dolphin Bar | Roof Top Bar
The perfect venue to soak up the atmosphere of Dubai. Enjoy a refreshing daytime swim followed by an even more refreshing cocktail, or
sip at sundown with a relaxing drink over the panoramic view of the Burj Al Arab.

About Holiday Inn®: Started over 60 years ago and with close to 1,200 hotels worldwide today, the Holiday Inn® brand is the most
widely recognized lodging brand in the world. During that time, it was the first hotel brand to launch a computerized reservation system
in 1965, one of the first international hotel brands to establish a presence in China in 1984 and the first to take an online booking in 1995.
The ‘Kids Eat & Stay Free’ programme is available at every Holiday Inn® property, and KidSuites® rooms at every Holiday Inn Resort® hotel,
demonstrates the long-standing commitment of the Holiday Inn® brand to serving family travelers, along with a comfortable atmosphere
where everyone can sit back and relax.
For four consecutive years, the Holiday Inn® brand has been ranked “Highest in Guest Satisfaction Among Mid-scale Full Service Hotel
Chains”, according to the J.D. Power and Associates North America Hotel Guest Satisfaction Index Study.
For more information about Holiday Inn® and Holiday Inn Resort® or to make a reservation, visit www.holidayinn.com. Find us on Twitter
http://www.twitter.com/holidayinn or Facebookwww.facebook.com/holidayinnhotels.

About IHG® (InterContinental Hotels Group): IHG® (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global
organisation with a broad portfolio of hotel brands, including InterContinental® Hotels & Resorts, Kimpton® Hotels & Restaurants, HUALUXE®
Hotels and Resorts, Crowne Plaza® Hotels & Resorts, Hotel Indigo®, EVEN™ Hotels, Holiday Inn® Hotels & Resorts, Holiday Inn Express®,
Staybridge Suites® and Candlewood Suites®.
IHG franchises, leases, manages or owns more than 4,900 hotels and 727,000 guest rooms in nearly 100 countries, with more than
1,300 hotels in its development pipeline. IHG also manages IHG® Rewards Club, the world’s first and largest hotel loyalty programme with
more than 90 million members worldwide.
InterContinental Hotels Group PLC is the Group’s holding company and is incorporated in Great Britain and registered in England and
Wales. More than 350,000 people work across IHG’s hotels and corporate offices globally.
Visit www.ihg.com for hotel information and reservations and www.ihgrewardsclub.com for more on IHG Rewards Club. For our latest news,
visit: www.ihg.com/media and follow us on social media at:www.twitter.com/ihg, www.facebook.com/ihg and www.youtube.com/ihgplc

publié le 20 August 2010

Holiday Inn Dubai Launches Pakistan Flood Relief Appeal

[#In response to the international appeal for donations to help victims of the unprecedented floods in Pakistan, the Holiday Inn Dubai – Al Barsha has launched a scheme to collect and arrange distribution of necessary food, medicines, clothing and blankets to those left with nothing after fleeing their homes and livelihoods.#]


[#
“Holiday Inn Dubai – Al Barsha Loves You” Campaign Continues – But this Year in a Different Way.
The Hotel Launches Pakistan Flood Relief Appeal

Donations of food, medicines, clothing and blankets are invited
for urgent distribution to those displaced by floods
as part of a ‘Holiday Inn Loves You’ campaign

According to Resident Director, Roxana Jaffer, business contacts have already responded to the appeal, and she is urging the public to come to the hotel with their donations as quickly as possible: “This scale of this humanitarian crisis is overwhelming, but everyone can do their bit by providing something to help, whether it is warm clothing, non-perishable foodstuffs or simple medicines.
“More than 14 million people have been displaced and monsoon rains and flash floods are continuing to make mere survival a battle - we urge the people of Dubai to do all they can to assist our appeal.”
Staff at the Holiday Inn Dubai - Al Barsha will be manning collection and sorting areas in their free time, while an appeal to guests to donate a dollar at check-out as well as every Iftar has already started to see dividends.
Donations (see list attached) can be made throughout the day at the hotel reception or left with the night concierge at other times, with sorting and packaging carried out at the Gharana restaurant from 20.00 hours onwards.
Mrs Jaffer stressed the hotel was already working closely with local community organisations in Pakistan to ensure all funds and items of clothing, blankets, medicine and dry foods reach the hands of the displaced.
Last year the Holiday Inn Dubai – Al Barsha had organised a similar campaign for Al Noor Center for Children with Special Needs in Dubai.
For more information, please contact 04 323 4333: www.holidayinn.com or www.hialbarshadubai.com

Based on the UN recommendations the following items are required urgently:
 
Food: (non perishable items only): 
Rice, lentils, red kidney beans, pulses and other grains, packaged dates, nuts/dry-fruits in packets, cooking oil, spices/salt;
Tea/sugar/dried milk/high energy biscuits
Medicine:
Water purifying tablets, antiseptic creams, anti malarial tablets;
Treatments for typhoid, cholera, infection;
Painkillers, including Paracetamol, Bruffen, Voltaren, buscopan, Panadol, Adol, Disprin, Septran, Ponstan;
Anti diarrhea, anti emetics (vomiting);
Dettol, antibacterial soap, iodine for water sterilization;
Antibiotics - Amoxillin, Augmentine, Actified;
Cough syrup/tablets;
Glucose, multivitamins, oral rehydration solutions;
Boxes of bandages.

Clothing/Bedding: 
Clothes of any size, for men, women and kids plus shawls, jackets, blankets.

#]
For media contact:
Hina Bakht
Vice President
MPJ (Marketing Pro-Junction)
Mob: +971 50 6975146
Email: h.bakht@mpj-pr.com
www.mpj-pr.com

publié le 3 June 2009

ibis Mall of the Emirates opens in Dubai

Growing Accor Hospitality economy hotels network in the Middle East

[# ibis Mall of the Emirates has opened which adds 204 modern rooms to Dubai’s economyhotel market.Strategically situated at the heart of the ultimate leisure, entertainment and shopping mall in Dubai, Mall of theEmirates, the new ibis provides guests easy access to attractions such as the largest indoor family entertainmentcentre in the United Arab Emirates and the biggest indoor ski dome in the world.
#]

[#For business travellers, the hotel
is also accessible to Sheikh Zayed Road and near the business hubs of Dubai Media City and Dubai Internet City.
The hotel will serve both business and leisure travellers; offering year-round value pricing as well as the superior
facilities and services expected by visitors to Dubai.
With initial room rates starting from Dh299, the hotel expects to cover all economy markets with appeal to
business travellers saving on costs as well as families travelling to Dubai for shopping or a city break.
ibis MoE has 153 double rooms, 49 twin-bed rooms and 2 special needs rooms. Many of the rooms are
interconnected and suitable for families, while all will feature IDD telephones, satellite flat screen TV, high speed
Internet and WiFi connections, as well as 24-hour laundry service.
Other facilities include WiFi in lobby and public areas, underground car park, free safety deposit boxes at
reception, complimentary scheduled airport shuttle service, plus a variety of dining options including the “Amici”
all-day dining Italian restaurant; the 24-hour Snack Service and the “Ezaz” bar.
ibis is committed to the ’15 minutes satisfaction contract’ which is the illustration of ibis’ concrete commitment to
quality. If a customer reports a problem which is the hotel’s responsibility, the teams are committed to finding a
solution within 15 minutes maximum, 24 hours a day, every day of the week. If no solution is found, the client is
invited.
Now that ibis Mall of the Emirates has opened, it will expand ibis’ network to five operational hotels in the region.
Christophe Landais, Managing Director, Accor Hospitality Middle East comments: “ibis Mall of the Emirates hotel
is a major component of our well planned expansion in the Middle East. This 5th hotel is one of the planned
network of 10 ibis hotels for the short term in the Middle East: five ibis hotels with 1,434 rooms are currently in
operation (four in UAE, one in Kuwait) and 5 ibis hotels with 1,069 rooms are under development in UAE,
Bahrain, Jordan, Kuwait and Oman to be opened by 2011.
ibis is our leading and resilient worldwide economy brand. We plan to maintain our number one position in this
segment in the region, acquired since the opening of ibis Dubai World Trade Centre in 2003. Simplicity,
standardization and a full food and beverage (F&B) offering are the marks of success of ibis. These qualities
strongly contribute to guest satisfaction and translate to higher profitability,” he added.#]

ibis, the worldwide economy hotels brand of the Accor group, offers consistent quality accommodation and services in all its hotels, for the
best local value: a well-designed and fully-equipped en-suite bedroom, major hotel services available 24/7 and a wide choice of on-site food
and beverage options. The quality of the ibis standard has been recognised by the International Organization for Standardization certification
ISO 9001 since 1997. ibis is also the world’s first hotel chain to demonstrate its environmental commitment through securing the ISO 14001
certification, which has already been awarded to nearly one third of its hotels.
Established in 1974, ibis is the European leader and one of the first economy hotel chains in the world, with more than 94,000 rooms and 810
hotels in 40 countries, including 4 in United Arab Emirates and 1 in Kuwait .
For additional information, please visit www.ibishotel.com

Notes to Editors:

Accor Hospitality ME is one of the fastest growing hospitality groups in the region.
Currently, the company’s portfolio includes a total of 27 operational hotels in seven countries in the Middle East. Among the existing global
brands ranging from Sofitel, Novotel, Mercure and Ibis, new brands such as Pullman and Suitehotel are emerging as strong players in the
region.
With over 25 years regional experience, Accor Hospitality ME is the first to establish a training academy, Tamheed - Accor Academie Middle
East, which is dedicated to train all staff levels ensuring career development.

Accor, a major global group and the European leader in hotels, as well as the global leader in services to corporate clients and public
institutions, operates in nearly 100 countries with 150,000 employees. It offers to its clients over 40 years of expertise in two core
businesses:
• Hotels, with the Sofitel, Pullman, MGallery, Novotel, Mercure, Suitehotel, Ibis, all seasons, Etap Hotel, Formule 1 and Motel 6 brands,
representing 4,000 hotels and nearly 500,000 rooms in 90 countries, as well as strategically related activities, such as Lenôtre;
• Services, with 32 million people in 40 countries benefiting from Accor Services products in employee and public benefits, rewards and
loyalty, and expense management.


PRESS CONTACT
ibishotel.com/press
Charlotte Thouvard
Tel: +33 (0)1 45 38 11 28
Cell: +33 (0)6 25 02 03 33
Charlotte.thouvard@accor.com

publié le 30 August 2011

Interview of Abdallah Schleifer: issues of conflict Libyan

[#[#Professor Abdallah Schleifer is a veteran journalist who has covered the Middle East for American and Arab media for more than thirty years. He is currently Professor Emeritus at the American University in Cairo.He gives for France-moyenorient, The French Middle East and North Business Resource, his analysis of the Libyan conflict.#]

What political future for Libya after 40 years of reign of Khadafi?

Despite dire warnings in the press, namely the same stuff that would make it difficult if not impossible for the rebels to defeat the regime (tribalism,regional divide of East vs West., likely breakdown of the NTC and militia alliances, particularly liberals vs Islamists) I believe the chances of a successful transformation of a liberated Libya into a reasonably functioning stable democracy are very good. Unlike Afghanistan and Iraq where US armies of liberation quickly turned into armies of occupation there are no American . NATO or Qatari boots on the ground — or what there might be—special forces training the rebel army and perhaps serving as field spotters identifying targets on the ground for NATO warplanes, do not in anyway constitute an army of liberation/occupation,

In Iraq there were no Iraqi armed force4s participating in their own liberation, except for a quickly thrown together "militia" for Ahmed Chalabi of little more than a 1,000 armed me who were driven into Baghdad where they engaged not in fighting but pro stealing cars as well as providing Chalabi with personal security, The NTA has within it’s leading council Libyans who never left Libya for exile and have local following as as well as political experience as defectors from the Qaddhafi regime. And the NTA has the benefit of support from American and British foreign policy establishment that has certainly learned from the Iraqi debacle.

What is the role of Islamist political scene in the new Libya?

That is not terribly clear, and quite possibly exagerated. The fact that the rebel fighters shout "Allahu Akbar!" does not signify Islamist identity. Egyptian troops commanded by the late President Anwar Sadat raised that slogan when they stormed the Bar Lev in 1973 and even the soldiers of the ultra secular Turkish Army spontaneity chanted "Allahu Akbar" when they went ashore on Cyprus to forestall an attempt by Greek officers who had staged a coup d’etat in Athens and intended to unify Cyprus by force.

There are obviously Islamist fighters among the rebel forces — and a few of them have been quoted in the press as saying that in light of America’s support for the Uprising they are no longer anti-American.Nor does the membership of the NTC relfect any strong Islamist presence.

How the vast oil resources will help to rebuild the country?

Rebuilding should be quite easy. First there is an extraordinary amount of Libyan money abroad — many billions of dollars, frozen during the hostilities so Qaddafi could not use those funds, and they will now be made available to the new government. Secondly as soon as security is restored the oil technicians will return and Libyan oil should be quickly flowing.

Why the West have been surprised by the Arab revolt?

The West tends to look at the Arab world either with lens focused entirely on the Arab-Israeli conflict and that particular horizon was not turbulent or particularly clouded on the eve of the Arab Revolt. Or they look at the Arab world in the context of the security of the oil producing regimes whose cradle to grave public welfare for their own citizenry suggested quite correctly a passive domestic political environment.

As an expert of the Arab world, are you witnessing an irreversible political and economic renewal of the Arab world?

Aside from Libya I am not yet certain how irreversible the changes promised by "the Arab Spring" Uprisings will be. I do not think non violent resistance will bring down the Assad regime — it didn’t bring down Mubarak or Ben Ali — what it did was pusuade the respective Egyptian and Tunisian armies to stage soft coup d’etats. But the Syrian Army high command as well as the elite forces doing the serious repression are dominated if not entriely composed of Alawite Syrians who will certainly fear a bloodbath of reprisals by the Sunni majority which has suffered much under the Alawite minority dictatorship. So unless there are signifciant defections by the Sunni rank and file in the conscript army and Sunni officers to be found to lead them the prospects do not look terribly promising, A similar situation exists in Yemen.#]


S. Abdallah Schleifer
Emeritus Professor & Senior Fellow
Kamal Adham Center for Journalism Training & Research
School of Global Affairs & Public Policy
The American University in Cairo

publié le 1 May 2010

Is Dubai set to bid for 2020 Olympics ?

[# The selection of Dubai to host the first SportAccord convention is another important step in emergence of Dubai as a centre for global sports, said Prime Minister and Vice President of United Arab Emirates (UAE) Sheikh Mohammed Rashid Al Maktoum on Sunday.#]

He added UAE hosting such events for sport players from around the world will help to create new partnerships, reported Emirates news agency (WAM).

"Our guests learn about this region. We will learn more about their specialised business, and this will help our region to play a bigger role in the world of sport.

Asked on Dubai’s bid for 2020 Olympics, Sheikh Mohammed said for this moment, there is no bid, and UAE still in the process of evaluating on whether or not to pursue the goal.

"We are conducting feasibility studies to evaluate the costs and benefits of a bid, and our ability to meet the criteria to host the Olympic Games," he explained.

However, he added that this process will do good for Dubai, as it will help to identify the strengths and weaknesses of the transportation systems, tourism facilities, sports venues and other vital infrastructure.

"This learning process will benefit Dubai even if we never bid for the Olympic Games," he said.

On chances whether Dubai has a chance to host Olympics 2020, he said: "We have a lot to offer. Dubai already has a well-developed infrastructure and a good track record of staging international sporting events.

"But, we also have to consider the summer heat, which can be a serious problem for athletes. We will have to take an honest look at our weaknesses as well as our strength," he stressed.

"Sport always breaks down barriers between people. This convention is part of that process," Sheikh Mohammed, who is also the Ruler of Dubai, said in an interview on the sidelines of the global sports event.

Leaders and players from the world of sport will gather in Dubai on Sunday for SportAccord, the world’s largest sport convention. This convention, being held for the first time in the Middle East, will bring together members of the International Olympic Committee’s powerful executive board, the leaders of international sports federations and top executives from the sports industry.

Asked on the role of sport in UAE and Dubai, Sheikh Mohammed said sports is an integral part of the growth strategy for Dubai especially in economic, as hosting international sport events will generates income for Dubai as well as raises its name in international profile.

"Our world-class venues and other quality infrastructure have helped make Dubai a top destination on the global sports calendar. And more importantly, our focus on sports protects our health and our heritage.

"Modernisation and prosperity have brought many benefits to Dubai and the UAE but people are more sedentary. So, sports is one way to address the rising rates of obesity and diabetes," he said, adding that about 40 percent of UAE’s children have diabetes.

publié le 19 October 2010

JCDecaux wins 10-year exclusive advertising contract for all 26 airports in Saudi Arabia

Press release

[# JCDecaux the No.1 outdoor advertising company in Europe and in the Asia-Pacific region, and No.2 worldwide, announced that its subsidiary JCDecaux ATA has entered into a 10-year contract for the exclusive advertising concession covering all 26airports in Saudi Arabia.#]

[#
JCDecaux ATA is a 60/40 joint venture between JCDecaux and its Saudi Arabian partner ATA. JCDecaux is the leading outdoor advertising player in the MENA[1] region thanks to a unique premium outdoor advertising platform that includes prime locations targeting high-profile audiences in these fast growing markets.

The contract covers 4 international airports in Saudi Arabia; King Abdulaziz International Airport in Jeddah, King Khaled International Airport in Riyadh, King Fahd Airport in Dammam and Prince Mohammad Bin Abdulaziz Airport in Madinah, and 22 domestic airports across the country.

With an estimated quarter of the world’s total petroleum reserves fueling its hundred-billion-dollar infrastructure and investment projects, Saudi Arabia is the most thriving economy in the region.

General Authority of Civil Aviation (GACA) has been implementing aggressive expansion plans for its international airports and also upgrading its domestic airports. The two main airlines in the country - Saudi Arabian Airlines and Nas Air– are also increasing their number of international and domestic routes and expanding their fleets to support the new airport infrastructure.

The 26 airports have shown continuous and robust growth, jointly handling45.3 million passengers in 2009, with39.4 million travelling through the 4 international airports[2]. At the same time passenger traffic in the Middle East achieved the highest growth in the global market and a 7.1%[3] increase in 2009.

In 2009, JCDecaux the world’sN°1 in airport advertising, reached 33% of air travellers around the world through its airports platforms. This represents a total of 1,430 million passengers out of the 4,378 million[4] people who travel by air worldwide.

His Excellency Abdullah Rehaimi, President of General Authority of Civil Aviation in Saudi Arabia, said: “Managing the aviation network in the region’s centre of growth and development, GACA is dedicated to raising our facilities and services to international standards to meet rapidly growing demand. This partnership with JCDecaux ATA will help us achieve this goal, providing a one-stop shop across the Kingdom, handled by the world’s leading outdoor advertising company. We believe this will be a long-term and mutually beneficial association with JCDecaux ATA.”

Jean-Charles Decaux, Chairman of the Executive Board and Co-CEO of JCDecaux, said: “We are delighted to be awarded this contract by GACA and to become the N°1 in airport advertising in Saudi Arabia, the 56th country where the Group is present. This is a strategic move that will strengthen JCDecaux’s position as the leading player in the MENA1 region, introducing a unique premium outdoor advertising platform. Our prime location networks will target high-profile audiences in the fast growing markets of Saudi Arabia, the UAE, Qatar and Algeria. Through our airport advertising concessions in these regions, we will reach 100 million passengers a year. This contract underlines the professionalism, expertise and continuous innovation shown by JCDecaux’s regional teams and the success of the wider Group at managing large international airport platforms. It reinforces JCDecaux as the N°1 worldwide in airport advertising.”#]

publié le 16 May 2010

Kempinski to open its Nile front premier boutique hotel in Cairo on 20 June 2010

Press release

Set to open June, Kempinski will have its first hotel in Cairo, Egypt to show case how understated and cool luxury can be, introducing the art of simple things done beautifully.

Kempinski Nile Hotel will be the first boutique hotel in Cairo with a particular vision, offering things that have not been offered in this vibrant city before. Kempinski globally stands for the oldest luxury brand in the hotel industry, and has its roots and history in Europe. Unlike other big hotels that have set up shops in Cairo, Kempinski intends on borrowing from Cairo’s rich local flair, blending both cultures to create a unique hotel experience.

Kempinski Nile Hotel will replace an old hotel on the river banks in one of Cairo’s most strategic downtown spots to set a new standard of hotelier traditions on the Nile banks. Whilst still holding onto its precious location in the lively heart of Cairo, the hotel was revamped in a record time of 30 months, where the décor and character have been changed, evolving into a more contemporary set-up that captures the essence of style and relaxed elegance. The warm and refined atmosphere combined with the state of the art , will be the masterpiece of the hotel that will create the signature moments for its guests.


The interior design of the 191-room boutique style hotel was done by the world renowned French architect Pierre Yves Rochon where he masterfully created an entity that evokes luxury, whilst resonating with the opulence of Egypt’s time-honored culture depicted in his choice of the murals adorning the walls of the Lobby.
Reto Wittwer - CEO & President for Kempinski Hotels commented during his recent trip to Cairo: “Cairo is a city where we have long been interested to establish Kempinski’s presence. We are particularly delighted to open in Cairo with such a great property on the banks of the Nile. TMG is a strong partner who shares our vision of strong positioning and market leadership. Together we will redefine authentic European hospitality traditions which Cairo at present longs for. We strongly believe that Kempinski Nile Hotel will be a great addition to Kempinski’s Collection of Individuals located in many of the world’s most renowned cities and resorts.”
The core values of Kempinski are innovative, witty and daring. “We offer a remarkable journey and create new traditions.” says the hotel’s General Manager Axel Ludwig on how he plans to bring Kempinki’s vision to Cairo.


Axel Ludwig, General Manager, Kempinski Nile Hotel added “The prime location of the property, combined with its superlative facilities, give Kempinski a great opportunity to positively establish the brand in Cairo. The Hotel design, location and views offer a great competitive advantage ,positioning Kempinski at the onset of market penetration in the Egyptian capital. Kempinski Nile Hotel is set to offer the key values of City Boutique hotels. The contemporary elegant design combined with the warm charming atmosphere and the tailored service reflect the European luxury and life style blended with the Egyptian culture and authenticity.” “It’s not overloaded, but it’s understated and sleek, functional, beautiful, cozy and charming. The hotel will serve as an oasis of peace, relaxation and art. We want to enrich people’s lives and well being, we are not just another status icon for rich people,” added Ludwig.
With a philosophy of borrowing from the richest aspects of local culture, 500 different paintings and 250 sculptures have been selected from local artists to be placed throughout the hotel “art is one of the key values of the experiences.” Art and exquisite design will have a touch on everything.
The lobby is a chocolate lounge, offering a respite from the city with a little bit of indulgence. “Chocolate makes people happy and there’s so much positive energy with it too.” Multiple outlets are being planned to offer unique food and beverage experiences whether it’s the rooftop or Floor 10, serving contemporary French Cuisine or a more culturally intimate experience in Osmanly: the ottoman restaurant inspired by Egypt’s rich history in association with Turkey and the Ottoman Empire.
A hip shisha bar is also on the drawing table to celebrate one of the oldest traditions in Egypt. However next to the traditional Arabic Shisha, Kempinski will offer a collection of Designer Shishas from London, Paris, Moscow and Beirut with selected tobaccos and Oriental chill out Music presented by a DJ in Shishawy. Kempinski will combine Egyptian culture with European Lifestyle kicking it up a few notches with a different style and flair. 
“It’s about simplicity, attention to details, smooth experience and style. It is about taking care of the individual to enrich his experience and so to add value to his life.” Added Ludwig 

- ends -

Editor’s Notes: The Kempinski name is proudly borne by a growing collection of distinguished properties around the world. Europe’s oldest luxury hotel group, Kempinski has built its reputation on the belief that exclusivity and individuality are key elements of true luxury. Each year, an increasing number of guests come to appreciate these qualities, as Kempinski adds new hotels and resorts in Europe, the Middle East, Africa and Asia. While this growth reflects the strength and success of the Kempinski brand, the collection will remain a limited one, where exclusivity can be nurtured and individuality can flourish.
Kempinski is a member of the Global Hotel Alliance. Global Hotel Alliance is the world’s largest alliance of independent hotel brands. It uses a common technology platform to drive incremental revenues and create cost savings for its members, while offering enhanced recognition and service to customers across all brands. GHA currently comprises of Anantara, First, Kempinski, Leela, Mirvac, Marco Polo, Omni, Pan Pacific, PARKROYAL, Shaza, The Doyle Collection and Tivoli, encompassing nearly 300 upscale and luxury hotels with over 65,000 rooms across 48 different countries

To book or for further information visit
www.kempinski.com
www.globalhotelalliance.com
www.flyasiana.com
www.staralliance.com

Contacts:
Eman El Yassaky
Public Relations Manager
Kempinski Nile Hotel
Garden City - Cairo
T: 0020 2 279 80000
F: 0020 2 279 57157
Eman.yasaky@kempinski.com

For media contact:
Hina Bakht
Vice President
MPJ (Marketing Pro-Junction)
Mob: 00971 50 697 5146
h.bakht@mpj-pr.com

publié le 12 July 2010

King’s visit to France postponed

[# Custodian of the Two Holy Mosques King Abdullah has postponed a visit to France that would have seen him open an exhibition of Saudi Arabia’s archaeological treasures at the Louvre Museum and possibly attend the July 14 Bastille Day festivities.
#]

[#A spokesman at the Kingdom’s Embassy in Paris confirmed Friday that the visit had been postponed and a new date had not yet been set.

King Abdullah had been scheduled to meet President Nicolas Sarkozy as the two countries look to develop their relationship ahead of France taking over the G20 chairmanship next year. Saudi Arabia is the only Arab member in the bloc of leading economic powers.

Riyadh said on July 5 it was also preparing to sign an agreement on cooperation in civilian nuclear energy during the visit.

Both countries have been in talks for more than one year but have yet to disclose details about the cooperation.
#]

publié le 30 August 2012

Kuwait Finance House demonstrates financing services at Al-Kout Mall

press release

[#Kuwait Finance House (KFH) will be found at Al-Kout Mall from August 30th until September 1st, in order to demonstrate and promote its financing products and services.

This is part of KFH’s efforts to reinforce means of direct communication with its clients and raise awareness regarding its services; especially at shopping malls that are crowded with various age groups of people.

Director of the Agency’s financial services Taleb Rifai said, KFH’s presence also seeks to shed light on previous promotion campaigns that the bank has launched earlier, and answer any questions the public might have.

It is worth noting that KFH’s booth at the mall is manned by employees from various KFH departments, such as direct sales, cars, and local real estate.

It is worth noting that KFH is keen to reach its clients wherever they are, whether through marketing teams that can be found at malls, governmental authorities, and private institutions, in addition to its network of branches that offer full fledged banking, commercial, and real estate services.

KFH financing services include consumer financing that allows clients to pay installments after six months, financing of all kinds of used and commercial cars, financing clients who need furniture and home appliances, maintenance services, and full insurance up to five years.

The bank also allows its clients to receive the things they have purchased outside Kuwait, while paying for those items in Kuwait.

KFH allows clients to pay the first installment after nine months, and installments can be paid for up to 15 years. Such services include constructions materials.
#]

publié le 17 January 2010

Kuwait, France ink nuclear agreement

Kuwait has signed a cooperation agreement with France to help the world’s seventh largest crude exporter to develop nuclear energy and provide assistance in determining its future needs, AFP has reported. The 20-year agreement allows the "supply of nuclear material, equipment and facilities," training, exchange of technology information and research. However, the treaty does not stipulate the building of a nuclear power plant.

publié le 6 December 2014

Kuwait: Jazeera Airways reports September 2014 Operational Performance

press release

Jazeera Airways released its September 2014 Operational Performance Report today, which shows a 5% increase in total flown passengers from September 2013 and an on-time performance of 96%.

Jazeera Airways issues its Operational Performance Report on both a monthly and annual basis. The Report is based on official figures and statistics from Kuwait’s Directorate General for Civil Aviation (DGCA). On-time performance is reported based on results by independent US-based OTP tracker, FlightStats.

Jazeera Airways saw a 9% increase in flown passengers from September 2013 on routes serving Istanbul, Beirut and Amman. The increase in flown passengers comes during a low-season month when families return from summer holidays into the school season.

Flown passengers also increased on routes serving Egypt, increasing by 18% from September 2013 to the five cities served during the month. The airline increased its market share on the Kuwait-Cairo route by 9% increase from September 2013.

The report also shows that Jazeera Airways continues to hold healthy market shares on the Dubai, Bahrain, Jeddah and Riyadh routes ranging from 8 to 16%.

About Jazeera Airways:

Established in 2005, Jazeera Airways Group is a Kuwait Stock Exchange-listed company. The company has 15 fully-owned Airbus A320s in operation, distributed between its airline business, Jazeera Airways, and its fully-owned leasing business, Sahaab Aircraft Leasing. Sahaab has assets placed with Virgin America, SriLankan Airlines, Flynas, TAP and Jazeera Airways.

In 2013, the airline carried 1.1 million passengers in total across its network that includes today high-demand business, leisure, family, and weekend destinations such as Dubai, Bahrain, Beirut, Alexandria, Amman, Istanbul, Sharm El Sheikh, Assiut, Luxor, Mashhad, Sohag, Jeddah, Riyadh, Cairo and Al Najaf.

Jazeera Airways is an IATA member airline and operates one of the youngest Airbus A320 fleets in the Middle East.

publié le 25 December 2010

Launching your Islamic Fund in Paris

Edited by Paris EUROPLACE which undertakes four major activities to promote and develop the Paris financial market

Why should you choose France to set up your Islamic fund?

  • No regulatory hurdle to Islamic fund management: 1/ The market regulator (AMF) is explicitly authorizing Shariah compliant funds; 2/ Several Shariah compliant funds are currently distributed in France.
  • Fast initial procedures and easy and quick procedures for further fund launches. In France, once your Asset Management Company is afloat, only two to four weeks are necessary for the launch of new funds, whereas in most financial centers such as Luxemburg, a whole new procedure for each product is required.
  • Some French institutional investors are obliged to invest in France-domiciled funds. Therefore, the purpose of targeting the French market would be better served if funds were to be domiciled in France.
  • Visibility and Brand-awareness: France is recognized worldwide for creating an “Islamic Finance friendly environment” as testifies the commitments of Mrs. Christine LAGARDE, French minister of Economy, and that of the Paris market Place. Also, France is being closely watched by the media in the Middle-East and North Africa region and by the Islamic investment community globally.
  • Tax reliefs: French investors may benefit from tax reliefs on the purification proceeds donated to French charities (up to 66% tax reliefs for investors on the donated moneys).
  • Cost efficiency: France is a cost efficient domiciliation location. French Monetary Authority (AMF) main requirements
  • No specific condition for Islamic Collective Investment Schemes (CISs), explicitly recognized by the AMF (17 July 2007 Recommendation), as long as regulatory and statutory requirements are complied with.
  • Asset Management Company should keep its independence in stock selection and be able to assess the Islamic stock-selection criteria.
  • ETFs and index-linked funds: the index should comply with all conventional requirements of diversification, representativeness and security.
  • Purification of income: it is possible to distribute some or all of the CIS’s distributable income to a charity, as long as this option is explicitly stated in the prospectus. Note that for French resident investors, the waiver of income is a donation that can attract tax relief for the investor.

Procedure and timetable

  • Setting your Asset Management Company: French funds must be managed in an Asset Management Company duly registered in France. It usually takes two to three months to obtain registration by the AMF.
  • Launching your fund: once the management company is settled, only two to four weeks are usually necessary for each new fund to be registered.
  • Possibility to delegate the management to a foreign company: in some cases, it is possible to delegate the management to another Asset Management Company based in a foreign country. The regulatory framework and the registration process for Asset Management Companies in that foreign country will be taken into consideration by the AMF before granting the possibility to delegate the management. For example, Asset Management Companies based in Switzerland and managing foreign funds are not registered at the local market authority. Therefore, the AMF might consider them as ineligible for a management delegation.
  • Distribution in France of a fund managed by a company registered in another European country: if a management company is registered in another European country, the fund should be pre-cleared for distribution in France by the AMF. This process can be up to two-month long. Bilateral agreements for UCITS III funds for local distribution exist between the AMF and other foreign regulators. Please check the existing agreements for any specific location. Example of Islamic funds launched in Paris
  • ETF: BNP Paribas launched the easyETF DJ Islamic 100, following the “Dow Jones Islamic Market Titans 100 Total Return” index, in 2007.
  • UCITS-III SICAV: Crédit Agricole Asset Management (CAAM) listed the first “Shariah” compliant SICAV (open-end CIS), currently under distribution for retail investors. The three compartments are benchmarked against DJIMindices.
  • Retail equity fund: “Karama éthique” is an equity fund launched in September 2009 by the BRED and Banque Populaire network in France.
  • Life insurance: AGF-Allianz has launched a life insurance product distributed in the Reunion Island (French department).
publié le 2 March 2016

Leading Shari’ah-compliant responsible investment firm announces support for Responsible Finance Summit

press release

The upcoming Responsible Finance Summit in March is excited to announce the support of SEDCO Capital, the renowned Saudi asset management firm. The Summit will host a discussion between leaders in the Islamic finance and responsible investment to identify how to fully realise the emerging market responsible finance opportunity.

The global responsible investment industry represents almost a third of all managed assets globally, however, it is dominated by institutions and assets invested within developed markets with only limited connections to the rapidly growing Islamic finance industry. Shifts are beginning to occur whereby responsible investment firms looking towards emerging markets to find long-term economic growth potential that developed markets can no longer offer.

As these investors expand beyond their presence in developed markets, they need to make a concerted effort to build bridges between responsible investment and Islamic finance. Greater cooperation will help enable responsible finance to widen its geographical footprint and, in particular, help to support sustainable, equitable and inclusive economic growth, especially across emerging markets with Muslim majority populations.

Speaking ahead of the Summit, Hasan Al-Jabri, CEO of SEDCO Capital said: "We are delighted to participate in the Responsible Finance Summit and are very happy to see the world starting to embrace our Prudent Ethical Investment approach among a truly groundbreaking gathering of key stakeholders from the traditional responsible finance and Islamic finance sectors. We are excited to support efforts to build alliances and increase the measurable impact of the responsible finance industry in line with the Islamic prudent principles that complement the ESG direction of building sustainable economic development. The critical discussions about a comprehensive approach that is very much aligned with our firm’s values."

Established in 1976, SEDCO Capital was the first Shari’ah-compliant signatory of the PRI, considered a definitive benchmark for the burgeoning global appetite among asset managers and asset owners for responsible investing. SEDCO Capital manages assets across a diversified spectrum of investments in real estate, equities and other businesses with a total AUM of $3.9 billion.

Hosted by Bank Negara Malaysia, organised by the RFI Foundation and co-organised by Middle East Global Advisors, the Responsible Finance Summit will take place on 30-31 March at Sasana Kijang, a renowned center for knowledge and learning excellence established by Bank Negara Malaysia. For more information on the Summit, please visit www.rf-summit.com. Join the conversation on responsible finance at #RFS2016 @RFIFoundation.

ABOUT THE RFI FOUNDATION:

The RFI Foundation is a non-profit organisation with a mission to identify a neutral, nonpartisan and universal value proposition that encourages convergence of responsible finance practices. By highlighting the shared standards around principles that govern the sector, Islamic finance will further contribute to a more diverse and representative thinking around the growth, trajectory and development of responsible finance.

Visit us at www.rfi-foundation.org.

ABOUT MIDDLE EAST GLOBAL ADVISORS

Connecting markets with intelligent insights & strategic execution since 1993.

Middle East Global Advisors (MEGA) is the gateway connectivity and intelligence platform to opportunities in the rapidly developing economic region that stretches all the way from Morocco in the West to Indonesia in the East - The Middle East North Africa Southeast Asia (MENASEA) connection. We pride ourselves for being at the heart of these diverse markets for over 22 years.

Visit us at www.meglobaladvisors.com.

publié le 24 April 2016

Lockton Opens New Morocco Office in Casablanca Financial City

press release

Lockton, the largest privately-held, independent insurance broker in the world, today announced the opening of its new Morocco office, based in Casablanca Finance City, an economic hub for the region. Lockton’s Middle East operations serve clients in the marine, aviation, energy, power, hospitality, construction, and other industries with risk management, insurance, and employee benefits consulting services.

Lockton’s Morocco operations officially opened at a launch party in Casablanca attended by senior market executives, clients and members of Lockton’s executive management including Lockton Middle East and North Africa Chairman Wael Khatib, Lockton, Inc. President and CEO John Lumelleau, and Chief Operating Officer Glenn Spencer.

“Clients across the region value the unique expertise and experience that we offer,” said John Lumelleau, Lockton, Inc. President and CEO. “This expansion in Casablanca is an exciting opportunity for the entire Lockton organization.”

Salah El Kadiri will lead the Lockton operation in Morocco and West Africa, supporting regional and multinational clients with operations in the region. He has been an executive director in Lockton’s Middle East and North Africa operations in Dubai for the past seven years.

Wael Khatib, Senior Partner & Chairman of Lockton (MENA) said, “The new Casablanca operation is part of Lockton’s continued efforts to enhance our regional capabilities for clients. We are committed to personalized engagement and the drive to see our clients succeed.”

Khatib added, “Salah El Kadiri started his career in Casablanca and is a well-known and respected professional in Morocco and the international market. I look forward to continue working with him and his team who I am confident will create a positive impact on the clients we serve.”

Saïd Ibrahimi, CEO of Casablanca Finance City (CFC) Authority, said, “We are proud to welcome in CFC the world’s largest privately owned, independent insurance brokerage firm. Lockton is the first international Lloyd’s broker to join our business ecosystem, reinforcing CFC’s positioning as a Pan-African reinsurance hub.”

Salah El Kadiri commented, “It is a privilege to be part of the Lockton team and witness the rapid growth the business has achieved in the region. I look forward to serving our Lockton Casablanca clients and building on the remarkable track record for clients in the region.”

Lockton will continue its expansion plans in countries across the MENA region. Lockton currently has operations in Dubai, Abu Dhabi, and Jordan.

About Lockton

More than 5,600 professionals at Lockton provide 48,000 clients around the world with risk management, insurance, and employee benefits consulting services that improve

their businesses. From its founding in 1966 in Kansas City, Missouri, Lockton has attracted entrepreneurial professionals who have driven its growth to become the largest privately held, independent insurance broker in the world and 10th largest overall. For seven consecutive years, Business Insurance magazine has recognized Lockton as a "Best Place to Work in Insurance."

publié le 22 December 2015

LuLu Group to invest US$ 300 million in Egypt; opens first hypermarket in Cairo

press release

LuLu Group has set its foot in Egypt by opening its first hypermarket in Cairo, capital of Egypt. The 119th hypermarket was inaugurated by Khalid Hanafy, Egyptian Minister for Trade, in the presence of Galal El Saeed, Governor of Cairo, Mohamed Abdul Sayed, Advisor to the Prime Minister, Khalifa Thunaiji, Deputy UAE Ambassador to Egypt, and other high ranking government and civil officials. Yusuff Ali M.A., Chairman of LuLu Group, Saifee T. Rupawala, CEO, Ashraf Ali M.A., Executive Director, Mohamed Althaf, Director of LuLu Egypt, and other top company officials were also present on the occasion.

The new store is located in Twin Plaza, opposite Police Academy, on the Zakir Hussein road extension in the 1st settlement of New Cairo. Spread over an area of 170,000 square feet, the new store is specially designed to offer the residents with a world class shopping experience like never before with fair prices and friendly service. The hypermarket will provide the widest range of quality and value-for-money products all under one roof.

Commenting on LuLu Group’s Egypt plans, Yusuff Ali said, "We consider Egypt as a very important market for us and our experience of more than four decades of success and accomplishment in the retail industry is sure to help us become the most popular retailer in the region. Egyptians are already well aware of LuLu and we hope to bring world class shopping closer to them in various important locations of this great country. As per the plan, we intend to invest EGP 3 billion (US$ 300 Million) in setting up 10 new hypermarkets in the next 2 years across Egypt”.

"The hypermarket will also offer a window of opportunity to local community. We will encourage the Egyptian agricultural sector by procuring & promoting local agricultural produce and also export them to our stores across the GCC and Far East. Currently we are exporting EGP 50 million and this will go up to EGP 150 million next year”, Yusuff Ali added. Main exporting products include fruits & vegetables, meat, fish, cheese and pickles. LuLu also plans to set up its own food processing plants to further boost the exports.

"We believe that having a strong national workforce is vital to our long-term success as it helps in creating sustainable community living. Currently, there are more than 800 Egyptians employed at our new hypermarket in Cairo and we intent to employ 10,000 more Egyptians in the next 2 years. We already have more than 3,000 working in our operations in GCC countries and will continuously train them in our various operations", said Yusuff Ali.

The new hypermarket provides the widest range of quality and value-for-money products all under one roof. It has separate sections for fresh fruits and vegetables, meat and poultry, dairy products, ready-to-eat products and a live bakery. The outlet also offers a huge area dedicated to electronics, IT products, home appliances, sports, furnishing and furniture, kitchenware, toys, stationery, and health & beauty products. The new hypermarket also offers a wide choice of world-class fashion brands and products for men, women and children. A special area is also dedicated for promoting local products and handicrafts of Egypt.

The systematically arranged sections promise customers an easy and hassle-free shopping experience. Extra-wide aisles, extensively laid out counters and ample parking space are some of the distinguishing features of the new store.

publié le 30 July 2015

Middle-East: Egis and Projacs seal a strategic partnership to develop new opportunities

press release

Egis acquires 51% of Projacs, the leading project and construction management firm in the Middle East. This transaction represents a new stepping stone for the development of both Egis and Projacs.

A reputed project management consultancy firm in its market Founded in 1984, Projacs offers a wide and integrated range of project management services mainly relating to building projects.
The firm is firmly established in the Gulf Cooperation Council (GCC) countries (Saudi Arabia, Bahrain, Oman, Qatar, United Arab Emirates and Kuwait) and also operates in neighbouring countries. With a workforce of 700 people and a turnover of USD 70 million in 2014, the company is a leading figure in the region, ranking among the global top 15 in the ENR (Engineering News Record) list of project management consultancies (excluding American firms). The firm also has its own training institute which accounts for 11% of its annual business.

A strategic partnership

With over USD 2500 billion worth of projects under planning, bidding or execution across the MENA region, both Egis and Projacs see significant opportunities for partnership and have over the past few months began sharing resources and capabilities as well as developing joint approaches for business development. “We are proud of Egis’ ongoing successes in the Middle East and are confident about our outlook in this promising region. To cement our commitment and build a sustainable business cluster, we thought critical to partner up with an established player in the Middle East. The integration of Projacs within Egis will allow the group to round out its project management expertise in the Middle East region and reinforce its position on
projects in the fields of buildings and urban development” commented Nicolas Jachiet, Chairman and CEO of Egis.

“With 20 offices across the MENA region, Projacs has an unparalleled coverage of the region and an unmatched track record in project and construction management services, particularly in relation to buildings in the Middle East. We continue to have our share of project/construction management and construction supervision for impressive government programs such as for the National Guard in Saudi Arabia, the Ministry of Education and the Public Authority for Applied Education in Kuwait or the Qatar Olympic Committee as well as for private sector clients such as on the development of nine Accor hotels in Saudi Arabia, the new National Bank of Kuwait head office landmark or the City Stars new development in Sharm Alsheikh. On the other hand, Egis holds significant capabilities in design and engineering in sectors which Projacs does not currently cover such as infrastructure, transport, water, energy and large-scale urban development. These are sectors which we believe will feature significant growth and opportunities in the region. We expect this strategic
partnership to be highly beneficial to both firms as we each leverage on the complementary strengths and capabilities of the other” commented Dr. Nabil Al-Qaddumi, founder and Chairman of Projacs.

The Middle East: a key region for Egis

Egis has been present in the Middle East for several years and holds the view that the region is a highpotential global market in a large number of fields such as infrastructure, buildings, water, energy and urban development. Egis generated 7% of its 2014 turnover in the Middle East. Among the most notable regional projects awarded to Egis since 2012 feature:

- Project management and construction supervision of three lines of the future Riyadh metro in Saudi
Arabia;
- Project management for the Doha metro in Qatar;
- Design studies and construction supervision of 130 km of expressways in Doha;
- The design of the urban development of the new cities of Taif and Badr in Saudi Arabia;
- Technical management of a data center in Riyadh;
- Project management of the King Faysal Hospital in Jeddah, Saudi Arabia.
More recently, the group also won contracts for:
- The renovation of aviation infrastructure at Riyadh airport;
- Assistance to the Saudi civil aviation authority for the commissioning of new infrastructure at the
King Abulaziz airport in Jeddah;
- Design studies for the future Medina metro in Saudi Arabia;
- Project management of all of the Elevated sections of the Doha metro;
- The design review and works supervision of the new project to extend the Doha West wastewater
treatment and recycling plant;
- Design studies and works supervision of the Um Al Houl Economic Zone (QEZ-3) in Doha;
- Engineering, procurement and construction management (EPCM) contract for rehabilitation of Al
Karaana lagoon in Qatar;
- Construction supervision of the main sewer in the sanitation system in the city of Doha as part of the
IDRIS programme.
3
There are currently 500 Egis employees working in the region on the various projects.
About Egis

  • €854 million managed turnover in 2014
  • 12-* ,000 employees

Egis is an international group offering engineering, project structuring and
operations services. In engineering and consulting, its sectors of activity
include transport, urban development, building, industry, water, environment
and energy. In roads and airports its offer is enlarged to encompass project
structuring, equity investment, turnkey systems delivery, operation and
mobility services. Employing 12,000 people, including 7,800 in engineering,
the group generated a managed turnover of €854 million in 2014.
Egis is 75% owned by the French “Caisse des Dépôts” and 25% owned by Iosis
Partenaires, (a “partner” executive and employee shareholding)

publié le 10 September 2012

MIG Bank Announces the Opening of Its Representative Office in Hong Kong

press release

[#MIG Bank, a leading Swiss bank providing online trading services for private and institutional clients today announced the opening of a representative office in Hong Kong. The opening of this office brings MIG Bank closer to its clients and business partners in Asia and represents a first step of the Bank’s planned growth in this strategically important region. In accordance with local regulations, the representative office will be able to market the Bank’s banking services in Hong Kong and function as a liaison between the Bank and its local customers.

Commenting on the opening, Hisham Mansour, Chief Executive Officer of MIG Bank said, “We are delighted to be opening a representative office in Asia. It will help to facilitate smoother communications with Asia-based clients and business partners in their own languages and time zones and, we will also be able to offer assistance to the Asia account management team in Switzerland. This is an exciting first step in our planned geographical expansion”.

About MIG Bank

MIG Bank is the largest Swiss bank focused on providing online foreign exchange (FX), contracts for difference (CFDs) and bullion trading, as well as an expanding range of banking services, to private and institutional clients in over 120 countries worldwide. It offers the latest technology and deep liquidity together with a unique, fully transparent trading model for FX trading that guarantees best price execution. Its team of financial and economic experts provides premium technical analysis and research reports for its clients on a daily basis. In addition, it delivers world class business partnership solutions for banks, financial institutions and brokers through its white label, asset manager and business finder programs.

Headquartered in Neuchatel, Switzerland, MIG Bank is regulated and supervised by the Swiss Financial Market Supervisory Authority or FINMA, the regulator of Swiss financial markets and is ISO certified for Quality Management & Information Technology Security Standards (9001 and 27001), offering the highest level of integrity and transparency to traders.

For further information please visit www.migbank.com.#]

publié le 1 July 2010

MoneyGram International Announces Network Expansion in Morocco

Press release

[#MoneyGram International (NYSE: MGI), a leading global money transfer company announces it has signed three new agents in Morocco that will offer money transfer services under the MoneyGram name. These agents are Credit Immobilier et Hotelier (CIH), MEA Finance / Canal M and WafaCash.#]

[#Credit Immobilier et Hotelier, a mortgage lender, will broaden it services to offer money transfer in 150 locations and will introduce MoneyGram to a new set of customers. MEA Finance / Canal M, an experienced money transfer service provider with branches in immigrant neighborhoods, brings 100 locations to the network and WafaCash, a local bank, will strengthen MoneyGram’s network by adding 400 new agent locations across the country. With these new additions, MoneyGram has 2,022 agent locations in Morocco.

”Morocco is an important and growing remittance market for MoneyGram. We are very pleased to enter into new partnerships that not only allow us to meet customer needs by the kinds of services we provide as well as the proximity to where customers work and live, but will strengthen our brand via their established businesses,” stated Nigel Lee, MoneyGram executive vice president of Europe, Middle East, Africa and Asia Pacific regions.

According to the World Bank, an estimated $6 billion was sent to Morocco in 2009, landing it in the top 20 remittance markets. Countries that send the most money to Morocco include Spain, Italy, France, the United States and Canada.

MoneyGram also signed five-year renewal agreements with Casablanca-based EuroSol and Quick Money/Efloussy, two money transfer providers that have been agents since 2003. MoneyGram, which has had a presence in Morocco since 1998, has a total of eight agents in Morocco. Other agents are Credit du Maroc, Damane Cash and Cash One.

About MoneyGram International

MoneyGram International offers more choices to people separated from family and friends by distance or those with limited bank relationships to meet their financial needs. A leading global payment services company, MoneyGram International helps consumers to pay bills quickly and safely send money around the world with funds arriving at available agent locations in as little as 10 minutes. Its global network is comprised of 200,000 agent locations in more than 190 countries and territories. MoneyGram’s convenient and reliable network includes retailers, international post offices and financial institutions. To learn more about money transfer or bill payment at an agent location or online, please visit www.moneygram.com or find us on Facebook.#]

publié le 7 May 2008

Morocco’s Shariah-compliant equities are tops

Equity markets in Morocco, Egypt and Nigeria delivered the highest returns for investors in companies deemed to comply with Islamic law during the first quarter of 2008, according to Standard & Poor’s Global Benchmark Shariah Index Series.

Conversely, Shariah-compliant equities in Turkey, China and India experienced the largest declines over the quarter. During the first quarter of 2008, Shariah-compliant equities in Morocco returned 34.45% on a total return basis, followed by Egypt (18.93%) and Nigeria (13.42%). In Turkey, Shariah-compliant stocks fell by 26.67%, followed by China (-26.57%) and India (-26.43%)

publié le 11 May 2008

Morocco: AM group activities increase 15% in 2007

The Moroccan national flag carrier group Royal Air Maroc (RAM and subsidiary Atlas Blue) witnessed a 15% rise in its activities in the period 2006-2007, with passengers’ traffic reaching some 6,334,385.

According to a communiqué issued by RAM, the company has continued its growth and sustained its economic stability and competitiveness in the market, in a context marked by the increase of competition and high fuel prices.

RAM’s international traffic progressed 17% in 2007, while that of Atlas Blue jumped 55%, the same sources added.

According to this document, the company achieved a net income of USD 14.9Mn, while its turnover totaled some USD 1.5Bn, with an increase of 9.6% compared to 2006.

Atlas Blue turnover doubled to reach USD 254Mn in 2007.

These results were made possible due to "the mobilization of RAM’s employees, and their commitment and daily efforts," the communiqué went on to say.

RAM said the six first months of 2008, which are characterized by the tough world juncture, made the oil bill soar by 60% for the company.
Source: MAP

publié le 1 July 2010

NBAD & MoneyGram launch international money transfer via mobile phones

[#The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has joined hands with MoneyGram International (NYSE: MGI), a leading global money transfer company, to become the first MENA bank to allow mobile phone international remittances to more than 200,000 locations across 190 countries & territories around the globe.#]

[#
The agreement between MoneyGram and NBAD will make it easier and more convenient for consumers in the UAE to send money transfers via their mobile phone to family and friends around the world. The partnership also gives MoneyGram access to NBAD’s account holders in the UAE and extends the benefits of safe and reliable money transfer services to a new category of consumers.

Arrow money transfers, including MoneyGram international remittances, can be carried out from a current account and prepaid cards.

Almost two years after NBAD introduced its Arrow service, the country’s first mobile phone money transfer and payment service, the Bank has integrated Arrow with MoneyGram to enable consumers to transfer funds directly from their NBAD or a prepaid account to persons outside the UAE via mobile phones.

UAE has been recognised as a major source of remittances worldwide. The World Bank recently estimated remittances from the UAE to be between US$15 billion and US$20 billion in 2009 with potential to continue growing in the coming years. In GCC, the size of the remit market is nearly US$50 billion.

UAE also has one of the highest mobile phone penetration rates in the world as the rate for mobile phone users in the UAE stood at more than 190% of the population.

"An overwhelming majority of expatriates in the UAE remit money to their families in their home countries. The Bank wanted to bring to the market a product that serves this large demographic. We worked very methodically for more than a year with our partners to fine-tune the Arrow service to ready it for consumers to use it to conduct international remittances," said Saif Al Shehhi, the Senior General Manager of Domestic Banking Division at NBAD. "NBAD understands a key component to delivering quality service is by being a leader in innovation. The Arrow mobile phone payment service and its expansion into international remittance is another example of NBAD’s innovative leadership in the market place."

"With more than 4 billion mobile phones in use around the world today, we recognize the critical role that mobile technology is playing in the evolution of the remittance market. This partnership with NBAD reinforces our commitment to deliver innovative mobile money transfer products and services and provide consumers with more accessible, affordable and secure options to send cash around the world," said Nigel Lee, MoneyGram’s executive vice president for Europe, Middle East, Africa, and Asia Pacific.,

The expansion of the Arrow service to international remittances with MoneyGram constitutes the third phase of enhancement and improvement to Arrow. In the first phase, introduced in November 2008, Arrow allowed customers to access their bank accounts via mobile phones to pay, send, and receive money domestically 24 hours a day.

NBAD developed the Arrow service with Luup, a world leader in the mobile payment industry.

In the months that followed the initial introduction in November 2008, NBAD and Luup increased the range of its services outside NBAD current account holders to include transfer from prepaid cards linked to salary (Ratibi cards), and to non-NBAD customers who could transfer funds from their prepaid cards. Offering international remittances through MoneyGram is the culmination of 18 months of work that NBAD and Luup have undertaken in developing this service.

"NBAD strives to provide services and products that genuinely deliver utility and value to consumers. Given how many people need to remit money to other countries, this service greatly meets a need in the market place," said Ahmed Al-Naqbi, the Senior Manager of Channels and Electronic Banking Services at NBAD. "As UAE’s Number One Bank, NBAD is on the forefront of bringing to the market the latest banking technology to provide customers with a fast, secure, reliable and convenient banking experience."

"This new partnership with NBAD will start to define the use of Mobile remittances in the UAE as well as the region," said Richard Meredith, MoneyGram’s Regional Director for Middle East, Pakistan & Afghanistan. "This service demonstrates one of MoneyGram’s core values in making remittances convenient."

Notes and contacts

About NBAD

The National Bank of Abu Dhabi (NBAD), The Number One Bank in UAE, was incorporated in 1968 and is listed on the Abu Dhabi Securities Exchange (ADX), under stock code (NBAD). Ranked as one of the top 50 safest banks in the world, NBAD currently operates across 13 countries on four continents.

NBAD has a network of more than 100 branches in the UAE in addition to cash offices that are spread out in remote locations to provide banking services to customers all over the UAE. The branch network is widened further with more than 330 ATMs through which customers perform a variety of transactions.

Besides brick & mortar branches, NBAD provides 24 hour internet banking access through NbadOnline and NbadDirect, the SMS-based payment service (Arrow) as well as account access and personalised customer support through its 24-hour Call Centre.

NBAD’s overseas network stretches from Oman, Kuwait, and Bahrain in the G.C.C.; Egypt, Libya, and Sudan in Africa; UK, France, and Switzerland in Europe; Hong Kong and Jordan in Asia to Washington, D.C. in the U.S.A. Overall, NBAD has nearly 50 branches and 60 ATMs outside the UAE.

NBAD provides its customers with a wide variety of financial services targeting all segments of the consumer and corporate markets in addition to fund management, brokerage, financial markets, leasing, property management and private banking businesses.

The bank is organised into various client-focused divisions. They are the UAE Domestic Banking, International Banking, Financial Markets, Corporate and Investment Banking, Abu Dhabi National Islamic Finance (ADNIF), and Global Wealth comprising of Private Banking and Asset Management Group, and the wholly owned stock brokerage company Abu Dhabi Financial Services (ADFS). The Bank’s wholly owned subsidiaries, Abu Dhabi National Leasing Company (ADNL) and Abu Dhabi National Properties (ADNP) are part of the Corporate and Investment Banking division.

NBAD is rated senior long term/short term A+/A-1 by Standard and Poor’s, Aa3/P1 by Moodys and AA-/F1+ by Fitch giving it one of the strongest combined rating of any Middle Eastern financial institution. Committed to the service of the UAE society, NBAD has a written Corporate Social Responsibility Mission, which forms an important element of the Bank’s overall strategy.

NBAD is an award winning leader in the UAE and GCC financial services industry. In 2009, NBAD won the prestigious UAE Corporate Governance Award by Hawkamah, Institute of Corporate Governance; the Human Resources Development Award in Banking Sector from Emirates Institute for Banking and Financial Studies; Best Bank in the UAE for the third time in the last 10 years from Euromoney; Retail Bank of the year from Arabian Business; Best Personal Loan in the Middle East from Bankers Middle East; Best Local Bank in the UAE from emeafinance; Deal of the year from Project Finance Magazine; Best Company for Investor Relations in the UAE from Middle East Investor Relations Society; Corporate Finance, Structured Finance & UAE Deal of the year from Islamic Finance News; and Strategic Banking Web Award from the Pan- Arab Web Academy.

The Bank was ranked in the World’s 50 Safest Banks in 2009 by Global Finance and recognised as a superbrand by Superbrands, the independent authority and arbiter on branding.

In previous years, NBAD has also won other prestigious awards such as the Sheikh Khalifa Gold Award, the Mohammed Bin Rashid Al Maktoum Business Award, the Dubai Quality Award, the Middle East Excellence Award 2008, ACN Arab Technology Award for the Banking & Finance, CIO Award of The Year, the Middle East e-Banking Country Award, the Outstanding use of IT in Financial Services Award, and excellence award for Best use of Technology from Banker Middle East. NBAD, The Number One Bank in UAE, is poised for further growth in line with its Vision - To be the Number One Arab Bank.#]

You can learn more about this press release by visiting - www.nbad.com

Contact Details
Name :Ehab Khairi
Telephone: 971 2 6111190
Email :ehab.khairi@nbad.com

publié le 5 November 2010

New Hotel Manager for Dusit Thani Lakeview Cairo

Press release

[#Jiri Kobos, Managing Director, Dusit Thani International and General Manager of Dusit Thani Lakeview Cairo, announced the appointment of Ahmed El Hady as Dusit Thani Lakeview Hotel Manager.#]

[#Ahmed brings to Dusit Thani Lakeview 19 years of experience within the field of hospitality, having held several positions at different International hospitality chains. His most recent role was the Regional Director of Sales and Marketing for Hyatt Hotels & Resorts in Egypt and Jordan.

Ahmed will be directly responsible for overseeing the day-to-day operations of the hotel, ensuring the implementation of the unique service for which Dusit Thani is known.

“Ahmed is a leader who brings quality management skills that help in growing revenue while enhancing guest service,” said Jiri Kobos, Managing Director Dusit Thani International, “We welcome his proven track record and leadership,” added Kobos.

The picture shows Jiri Kobos, Managing Director welcoming Ahmed El Hady to Dusit Thani Lakeview Cairo.#]

www.dusit.com

publié le 21 January 2015

New Hotel Opening: Pullman Dubai Jumeirah Lakes Towers Opens Doors

press release

Pullman, the upscale international hotel brand has opened at Jumeirah Lakes Towers, the marque’s second hotel in the UAE, and fourth in the GCC.

The property commenced soft operations on January 1, with 155 rooms of its 354-strong inventory online, as well as three of its food and beverage outlets: Seasons all-day dining, La Vue terrace lounge and Ahlan lobby café.

The hotel is on course to achieve full operations on February 1, when its full complement of rooms and suites, as well as the remainder of the restaurants and lounges which include an eclectic Lounge and Italian restaurant get underway.

Commenting on the latest property to be added to the Luxury and Upscale portfolio from Accor Hotels, Fadeel Wehbe, General Manager of Pullman Dubai Jumeirah Lakes Towers, said:
"We are determined to bring a superior level of hospitality to the offering in JLT and our surrounding communities. We are confident that our unique approach, attention to detail and unrivalled service will be a welcome addition to both visitors and residents looking to sample the Pullman experience for themselves."

Boasting six food and beverage outlets in total the remaining venues to open are: Amarillo, an upmarket tapastry bar, Manzoni a specialty Italian restaurant and the rooftop poolside bar.
Pullman Hotel & Residence Jumeirah Lakes Towers will offer 354 elegantly furnished rooms. suites and serviced apartments for long-term guests, and include 162 Superior rooms, 39 Deluxe rooms, 69 Executive and Deluxe Executive rooms and eight rooms for differently abled guests.

Suite configurations include 10 one-bedroom, six two-bedroom and two three-bedroom suites, all of which provide guests with access to the Executive Lounge, located on the 16th floor.

There are a total of 58 serviced apartments in the property comprising of one, two and three bedroom units.

The hotel offers 11 meeting rooms, complete with state-of-the-art technical facilities and meeting packages.

For relaxation or even working out, the hotel offers the Fit & Spa by Pullman and a roof top pool, complete with a pool bar.

About Pullman Hotel & Residence Jumeirah Lakes Towers:
Towering high at 137 meters and located amidst world-class commercial and residential developments, just minutes from Dubai’s best entertainment, leisure and shopping destinations, Pullman Hotel & Residence Jumeirah Lakes Towers is a marquee location for business and leisure travelers. Less than 30 minutes drive from the Dubai International Airport, adjacent to the metro station, which is connected to the newly introduced Dubai Tram, the hotel makes it very convenient to explore the city.

Elegant and contemporary in design with a warm ambience, that makes one feel right at home, The Pullman Hotel & Residence Jumeirah Lakes Towers is situated in Cluster T of the master planned, lakeside community. Ideally situated on the Sheikh Zayed Road, the property sits in close proximity to Dubai Marina, the TECOM business districts, and the world-famous Emirates Golf Club, as well as Dubai’s main shopping destinations. The 35-storey tower features 354 rooms, 278 deluxe rooms and 76 luxurious suites and serviced apartments, with a comprehensive food and beverage offering, fitness and spa facilities and conference and events venues.

About Pullman::
Pullman is the upscale international hotel brand of Accor, the world’s leading hotel operator, present in 92 countries with over 3,500 hotels and 160,000 employees. Located in the main regional and international cities and in prime tourist destinations, Pullman Hotels & Resorts is principally designed to cater for the requirements of cosmopolitan, seasoned travelers, whether they are travelling alone, with their clans or with colleagues. The brand’s establishments offer a new approach to upscale hospitality. The Pullman network has almost reached 80 hotels in Europe, Africa, the Middle East, Asia-Pacific and Latin America where ideas, histories and cultures meet. Our objective is to have 150 hotels around the world by 2015-2020. Pullman, like most of Accor ’s brands, is proud to offer the Le Club Accorhotels loyalty program.

Further information concerning the Pullman hotels is available on www.pullmanhotels.com

publié le 20 May 2008

North Africa’s leading banks have the potential to reach investment grade

Standard & Poors The North African banks that Standard & Poor’s rates are on a good credit trajectory and the strongest of them have the potential to eventually reach investment grade, said Standard & Poor’s Ratings Services in a report published today, "North Africa’s Leading Banks Are Now On The Path To Investment Grade But Getting There May Take Time."

"A supportive economic environment, more committed regulators, and foreign shareholders are benefiting North African banks, although discrepancies among them are still large," said Standard & Poor’s credit analyst Mohamed Damak.

Standard & Poor’s rates three out of the five countries of North Africa and 12 banks in these three countries. We rate five banks in the Republic of Tunisia (foreign currency BBB/Stable/A-2, local currency A/Stable/A-1), four in the Arab Republic of Egypt (foreign currency BB+/Stable/B, local currency BBB-/Stable/A-3), and three in the Kingdom of Morocco (foreign currency BB+/Positive/B, local currency BBB/Positive/A-3).

"Banks still have a way to go before reaching the ’BBB’ world but corporate governance, risk management, and transparency could make the difference," added Mr. Damak.

"In assigning our ratings, we may give a bank’s stand-alone credit quality some uplift to reflect our expectation of strong likelihood of external support. In North Africa, such support comes from foreign shareholders for private-sector banks and governments for public-sector banks.

We classify the three North African countries we rate as "supportive" toward their banking sectors and place the latter in our Banking Industry Country Risk Assessment (BICRA) Group 8."

_ Source: menareport.com

publié le 25 December 2015

NR_Novotel & Adagio Abu Dhabi Al Bustan pledges commitment to Planet 21 goals

press release

NR_Novotel & Adagio Abu Dhabi Al Bustan pledges commitment to Planet 21 goals
Abu Dubai - Novotel & Adagio Abu Dhabi Al Bustan, part of Accor Group commemorated Sustainable Development Week with their team members, as part of the 21 commitments made by Accor Group to sustainable development.

The seven pillars of Planet 21 include health, nature, reducing carbon footprint, innovation, supporting the local community, employment and conducting a transparent business. Keeping this in mind, the staff at Novotel &Adagio Abu Dhabi Al Bustan organised different training workshops on ’Healthy Eating and Maintaining a Balanced Diet’ for their staff.

In addition, employees of Accor Group also enjoyed a day out, packed with activities such as short distance races, sack races and tug of war among several others. To showcase their support for sustainable development, each team from the hotel created artworks using recycled materials.

Accor Group and its properties take pride in adopting the Planet 21 commitments in their day-to-day operations by reducing water use; recycling its waste and this reducing its carbon footprint.
"We provide guests and employees with a healthy environment. At Accor, we engage our business partners and integrate them into the responsibility chain. We work proactively to respond to customer expectations and support the development of new business models making Planet 21 vital for the hospitality industry," said Dominique Mercier, General Manager, Novotel& Adagio Abu Dhabi Al Bustan.

Accor Group has so far planted three million trees as part of a global reforestation project supported by the United Nations.

About Novotel
As the mid-scale hotel brand within the Accor group portfolio, Novotel offers close to 400 hotels and resorts in 60 countries, situated in the centre of major international cities from business districts to tourist destinations. Novotel’s consistently high standard of service contributes to the well-being of both business and leisure travellers: think spacious, modular-design guestrooms, balanced cuisine available 24/7, excellent meeting facilities, attentive staff, dedicated children’s areas and rejuvenating wellness facilities. The Novotel Group is a pioneer in sustainable development and all Novotel hotels participate in the Green Globe Worldwide Environmental certification programme.

About Planet 21

Intrinsically linked to sustainable development, the name PLANET 21 refers to Agenda 21, the action plan adopted by 173 Heads of State at the 1992 Earth Summit in Rio de Janeiro. It also echoes the urgent need to focus efforts in the 21st century to change our production and consumption patterns with the goal of protecting our planet, its people and their environment.

publié le 26 September 2010

Palestine: Jericho 10,000 Project

[#This year Jericho, the city of Palms, will be celebrating 10,000 years of history and heritage. As the oldest continuously inhabited city in the world, Jericho has so much to offer to any visitors.#]
[#
As of 10-10-10 the city will be hosting different events and festivities with the official launching of the Jericho 10,000 project taking place on 13-10-2010.

The vision for the project is to build on the ancient history, culture, religious heritage and unique geography of the area in a bid to solidify Jericho as a key tourism attraction for local, regional and international tourism. The Ministry of Tourism & Antiquities together with the private sector, donors, and local authorities in the area are developing the necessary tourism infrastructure in Jericho and the Jordan Valley. From site restorations and rehabilitation to developing new themed routes for visitors that combine spiritual, cultural and nature based dimensions to their overall visitor experience. Cultural events and activities are planned throughout the year leading up to October and will extend well into 2011. Encouraging investment in Jericho and the Jordan Valley are another key component of our master plan for the area.

The Jericho 10,000 Project Steering Committee has opened the doors for those who are interested in investing in the area and looking forward towards its sustainable development. #]

TRAVELPALESTINE.PS

publié le 19 December 2010

Paris EUROPLACE International Financial Forum 2010 / DIFC – Dubai

Press release

[#Paris EUROPLACE, the association representing the global finance, investment and related business community of Paris, France and Dubai International Financial Centre (DIFC), the UAE-based financial and business centre and gateway between the Middle East, Africa and South Asia region (MEASA) and the world, have jointly organized today their first International Paris EUROPLACE Financial Forum in Dubai. This event is being held following a Memorandum of Understanding signed between DIFC and Paris EUROPLACE in January 2009 to strengthen the links between the two financial market places.#]

[#In the context of the French presidency of G20 in 2011, this one-day event titled "The Dubai-Paris Partnership: Facing a Multi-polar World" has seen senior representatives of both Dubai and Paris financial centres participate in a meaningful debate and discussion.

Dr. Nasser Saidi, Chief Economist and Head of External Relations, DIFC Authority, and Arnaud de BRESSON, Managing Director, Paris EUROPLACE have jointly opened the Forum.

Arnaud de BRESSON has highlighted the dynamic role played by Paris EUROPLACE in the European and international discussions to set up a new post-crisis international financial architecture.

More specifically, in the current context, he has stressed the strong political will amongst the European Union Member States to preserve and reinforce European monetary union. He has underlined that European governments are committed to reduce budget deficits with penalties in case of failure, to increase the European stability fund and to create new mechanism for sovereign debt restructuring. "As the Paris marketplace has proved more resilient in the financial crisis than many other financial centers, it is well positioned to facilitate the access to GCC (investors and issuers) to all the opportunities offered by the Euro markets" said Arnaud de Bresson, Managing Director of Paris EUROPLACE.

Paris financial center benefits from diversified portfolio of activities:

  • a booming stock market with the presence of NYSE Euronext (the leading stock exchange in the world in terms of market capitalization and trading volumes),
  • a leading position in Europe for corporate bonds (with 35% of total issuance)
  • the strength of its asset management pool: with €2,610 billion under management, Paris ranks n°2 in the world in investment funds
  • a strong presence of international investors (40% hold Paris equity markets)

Furthermore, Paris financial center offers new promising post-crisis opportunities in:

  • covered bonds which offer high return and low volatility to institutional investors,.
  • long-term savings, to attract long-term investors, including Sovereign Funds,
  • commodities and environmental finance,
  • Islamic finance: Paris EUROPLACE has played a leading role in developing the positioning of Paris in Islamic finance with development of Sharia compliant investment funds, the organization of favorable regulatory environment to issue Sukuk and the welcoming of Islamic banks in Paris. Thierry DISSAUX, Special adviser for financial affairs at the French Treasury, has announced the approval during the AAOIFI annual Sharia board meeting, of Sukuk structures governed by French law which will soon be available on the marketplace

Last, Mr. de BRESSON has focused on the benefits driven from the MoU signed between Paris EUROPLACE and DIFC which aims to reinforce cooperation between the two marketplaces. "The MoU that we signed end at developing exchanges of information on financial regulation, enhancing links in financial education for market professionals, developing cross initiatives in Islamic finance as well as joint financial forums in Dubai and Paris".

Malachy McALLISTER, Head of Global Banking, HSBC France, has underlined the assets of the Paris financial marketplace to attract Islamic Finance:

* Important players in key sectors: energy, communications, transportation and a good quality of corporate debt
* Good reservoir of very clever and competent skills as HSBC which is an important player in Paris has testified
* Recognized expertise in real assets which is key for Islamic finance
* French government has a very important approach to organize Islamic finance and French legal system can provide a robust framework
* France has a very ethical approach to regulation

Dr Nasser Saidi emphasized the increasing importance of emerging markets as they have become the main engine of world growth during the last two years while advanced economies experienced a deep contraction, unseen since the Great Depression. He explained that the tectonic shift of the world economy towards the East is highlighted by the new role of emerging markets which contributed for more than two-thirds to global economic growth since 2002, as well as a similar share of both the growth in world trade and foreign direct investment. He also pointed out that most foreign direct investments (FDI) are now South-South, with the Middle East being the second fastest growing region in the world for FDI. He further underscored that emerging economies have developed an endogenous capacity to grow decoupling from mature economies.

Dr Saidi has then stressed the need of emerging financial centres to cooperate and build a stronger and more sustainable network across the world for the benefit of all stakeholders, especially after the recent global financial crisis gave rise to a multipolar world. He said that the crisis will contribute to the demise of the hub-spoke financial markets model centered on London and New York and give impetus to a transition to a decentralized model, which will prevent the enormous accumulation of savings in just one or two financial centres. He explained that the world now needs a new international financial architecture of networked financial markets which provides a more stable and sustainable ’spider web’ structure based on the new economic geography. He highlighted that the emerging ’spider-web’ nodes all have names ending in ’ai’: Dubai, Mumbai and Shanghai.

Dr Saidi illustrated the latest IMF GDP figures for the GCC, showing how the region continues to grow even during the last two years. He also gave an example of how the DIFC with its state of the art regulatory framework, judicial system, and modern physical infrastructure, was able to contribute positively Dubai’s economy resilience and how it enables the Gulf region to manage and control its natural and financial wealth.

Dr Saidi then confirmed the deep commitment of both the DIFC and Paris Europlace to developing economic co-operation between and initiating a continuous dialogue to share knowledge and expertise. He pointed out that the DIFC would like to work with Europlace to set up the legal and regulatory framework for Shariah compliant products and services in France and continental Europe, and gave an example where the DIFC would be able to facilitate the issue and listing of Sukuk and other Shariah compliant securities by French companies and by the Government of France.

Dr. Saidi emphasized that the DIFC has a lot to offer the French business community and was confident in the success of the partnership. He explained that the DIFC is located in the heart of the United Arab Emirates, which has a safe, secure, economically, politically and socially stable environment with superb infrastructure and a highly skilled, educated and multi-cultural workforce.With its deep pool of wealth, the region offers an exciting opportunity for French companies seeking to grow, with the DIFC constituting their ideal launch platform.#]

publié le 1 January 2011

Paris Gallery strengthens partnership with Christian Bernard Middle East

[#UAE. Luxury retailer Paris Gallery strengthens its partnership with Christian Bernard Middle East, the regional subsidiary of the Christian Bernard Group in France, with the expansion of Cacharel fashion jewelry in its major store locations in the UAE.#]

[#Now available in 5 major Paris Gallery outlets, and launching in Paris Gallery Lamcy Plaza and Ibn Battuta stores in the next few days, Cacharel fashion jewelry is becoming a strong player in the fashion jewelry segment of the market owing to its Parisian and Haute Couture origins and charming designs.

The Fall-Winter collection boasts of rhodium-plated 925 sterling silver jewellery with black and white zirconia in enchanting floral garden designs, as well as the introduction of gold-colored jewelry with dainty charms and hand-painted enamel.

“We are extremely proud of Cacharel’s performance in our store launchings this year and for 2011, we are targeting the brand’s expansion in more stores and having presence in our shops in Ras Al Khaimah and Sharjah,” explains Joseph Fernandez, Paris Gallery Brand Manager.

“The support that Christian Bernard Middle East has extended to us has been most instrumental in the successful launching of the brand,” he adds.

Cacharel also has a strong presence in Kuwait, Qatar, Saudi, Bahrain, Oman, and will be part of the pilot offerings of Paris Gallery in Syria which will open in early 2011.

As part of its festive season offerings, Cacharel is giving away a delightful handbag charm for every Cacharel silver jewellery purchase.

Part of Cacharel’s vision is to develop a shop-in-shop concept in major Paris Gallery stores which will showcase the brand’s full essence and where customers can be taken to a wonderful and imaginative world of nature, the flower garden, and the French Riviera.

Cacharel jewellery is available at Paris Gallery Festival City, Paris Gallery Mirdif City Center, Paris Gallery Dubai Mall, Paris Gallery Marina Mall in Abu Dhabi, and Paris Gallery Bawadi Mall in Al Ain.

Cacharel is exclusively distributed by Christian Bernard Middle East.#]

bi-me

publié le 7 April 2011

Parsons -Aecom win $42m Qatar light-rail project

[#US engineering firms Parsons and Aecom have won Qatar’s QR155 million ($42.5 million) Lusail light rail construction contract.

Qatar Railways Company and property developer Qatari Diar signed the deal in New York at the Business and Investment in Qatar Forum.

The five-year project will cover 30km of track, 7km of which are underground, 24 stations (seven of which are underground), service depots and a viaduct, in Lusail City, which Qatari Diar is building north of the capital Doha.

The Lusail Light Rail Transit System is part of the Qatar Railway project which is a $40 billion integrated railway system that will cover all major areas in the country and consist of three transport modes: long distance, metro and freight, according to a report in the Gulf Times.

The Qatar Railways Company is wholly owned by Qatari Diar Real Estate Development Company#]

publié le 31 May 2013

Peter Fort Appointed Chief Executive Officer of Ras Al Khaimah Free Trade Zone

press release

HH Sheikh Ahmad Saqr Mohammed Al Qasemi, Chairman of the Ras Al Khaimah Free Trade Zone Authority (RAK FTZ) – one of the fastest-growing and most cost-effective free trade zones in the UAE - today announced the appointment of Peter Fort as the new Chief Executive Officer, effective April 28, 2013.

In addition to his mandate as CEO, Mr. Fort acts as the Senior Economic Advisor to the Government of the Emirate of Ras Al Khaimah (RAK). In his new dual role he will spearhead the continued growth of RAK FTZ and channel investments into the emirate, reinforcing RAK’s growing reputation in the region.

Announcing Mr. Fort’s appointment, Sheikh Ahmad said: “Peter has played a leading role in the regional investment banking sector and has an intimate knowledge and understanding of our industry and the competitive landscape in which we operate. I welcome him onboard as we move into a new and exciting growth phase for the free zone.”

“With his extensive knowledge and experience, I am confident that he will play a pivotal role in driving RAK FTZ initiatives and help achieve our objectives; in close co-ordination with our strong board and management team,” he added.

Mr. Fort joins the free zone from a 10-year tenure with Morgan Stanley, where he was Head of Mergers, Acquisitions (M&A) and Restructuring for the Middle East and North Africa (MENA). He has played an instrumental role in building Morgan Stanley’s presence in the Middle East since 2006 and has led over 50 international, regional and domestic M&A and restructuring transactions across a variety of sectors.

Commenting on his appointment, he said: “I am honoured to have the confidence and support of the RAK FTZ board, and look forward to working our talented employees to further develop the reputation, products and service offerings of the free zone. Our strategy is to leverage our dynamic and diversified business model as we seek new growth opportunities. We will continue to focus on innovation and execution of our portfolio of products and services as well as technology enhancements designed to benefit our clients and the emirate.”

Mr. Fort graduated with honours from Harvard University with a BA in international political economics, subsequently earning his Masters in Business Administration, with a focus on Finance, from the University of Chicago’s Graduate School of Business, where he graduated first in his class.

publié le 3 December 2011

Premium Banking with al khaliji now even more convenient

  • Banking now literally at your door with ‘Doorstep Banking’
  • Premium Banking customers also get access to 600 airport lounges with ‘Priority Pass’

[#Building on the popularity of its innovative Premium Banking service, Al Khalij Commercial Bank (al khaliji) QSC announced that the service has now been enhanced to ensure that it provides even greater value.
“al khaliji’s Premium Banking service is a result of us staying true to our customer-focused strategy,” said Robin McCall, al khaliji’s Group Chief Executive Officer. “We have been keen on listening to our customer’s demands, and the improved and enhanced Premium Banking service is a result of this.”#]

JPEG - 40.4 kb
Al Khaliji Bank

[#al khaliji’s rationale behind the new Premium Banking service was explained further by Andrew Ball, the bank’s Group Head of Consumer Banking.

“Most banks focus on pricing and rates,” explained Mr. Ball. “While we recognize that these are important elements in a banking relationship , we believe that there are other components that customers look for and that is precisely what we focus on - we have built our proposition around the customer and believe that we can provide the very best, hassle-free banking experience. Ultimately, we believe that this will drive customer loyalty and a long term, mutually beneficial relationship”

Several elements make up al khaliji’s Premium Banking service: a dedicated, qualified relationship manager, access to exclusive premium centers, wealth management and investment services, preferential rates on loans, household benefits and ‘Doorstep Banking’ – a unique service in the Qatari market, and a complimentary ‘Priority Pass’ membership.

“Our ‘Doorstep Banking’ service actually describes a number of services which allows our customers to conduct their banking at their home or office,” said Mr. Ball. The traditional banking model in Qatar is branch based with customers having to visit their branch to undertake transactions or meet with their relationship manager. This isn’t always convenient and doesn’t put the customer at the centre of the relationship. With al khaliji, your relationship manager will come to you so you can handle your personal banking requirements, such as a loan application, cheque book, or a financial review to discuss your future investment plans, that would normally require you to go to a branch. We have actually been testing this service for some time and the feedback we have received is very encouraging. This is an exclusive service for our Premium Banking customers and we are planning to broaden the scope of service in the very near future.”

‘Priority Pass’ is the world’s largest airport lounge access program. With over 600 airport lounges included in the membership, Premium Banking customers can enjoy comfort, peace, and quiet at virtually every airport in the world.

“Our research showed us that our Premium Banking customers are extensive travelers, therefore, we included membership to ‘Priority Pass’ as a sign of our further commitment to the convenience of our customers,” added Mr. Ball.

Premium Banking is offered to both Qataris and Expatriate residents. To see if you qualify for this exclusive service, please visit www.alkhaliji.com, or call 44940000.


about us

al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to retail, business, corporate and institutional customers.

Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses local, regional and international banking services. 

Headquartered in Doha, al khaliji is one of Qatar’s leading banks and a member of the Qatar Exchange Index, with QR 23.85 billion in total assets and QR 11.58 billion in customer deposits as of 30 September 2011.

At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.
While financial objectives are key to sustaining our prosperity in any market, at al khaliji we believe that long-term sustainability is maintained by balancing our commitments to achieving our results, with the commitment towards the development of people and the preservation of natural resources. 

Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest ‘next generation bank’ news and information.
#]

publié le 2 October 2011

President of Monaco Government Tourist and Convention Authority Arrives in Riyadh Today

press release

[#Mr Michel Bouquier, President of Monaco Government Tourist and Convention Authority is arriving in Riyadh today to boost tourism between Kingdom of Saudi Arabia and Monaco. This is Mr Bouquier’s first visit to Saudi Arabia. During his three day visit, Mr Bouquier is expected to meet top tourism officials, prominent members of the travel trade and other industry experts to highlight the significance of KSA for Monaco as well as explore new opportunities for boosting leisure and business travel between the two countries.

A French national, Bouquier has over three decades of professional experience. He said that his goal for Monaco is to develop a multi-faceted strategy: To spread the tourist flow year-round, mainly through the conference and incentive market and in attracting sophisticated international independent travellers. “The aim is, of course, to remain competitive through a targeted and segmented sales and marketing strategy and to be creative in meeting the demands of today’s traveller. As I have done previously, I will focus on the synergy of all partners, and professional bodies to develop strong and long term strategic alliances”.

Mr Bouquier will be addressing an exclusive press conference at the Marriott in Riyadh on October 3 to reveal more details about his strategy for tourism between KSA and Monaco.#]

For more information about Monaco log on to http://www.visitmonaco.com

publié le 1 July 2015

Prince Alwaleed Pledges His Wealth to Philanthropy $32B, A Groundbreaking Gift Dedicated to Philanthropy

Early in my life I had a dream that I have always hoped to realize. I have thought about it most of my days and have shared it with some of my closest friends and family for more than a quarter of a century. I wished to wake up one day to see a world of tolerance, acceptance, equality and opportunity – for all.

In order to make this dream come true, I wished to contribute to the elimination of poverty and famine, and to support development, health and education in the most deprived communities. I wished to encourage social entrepreneurship to achieve long-term, sustainable change both locally and globally. I wished to alleviate the suffering from the pain of economic scarcity.

“Based on my dedication and passion for philanthropic work for the past 35 years, I now pledge to donate my entire wealth to the Alwaleed Philanthropies, which work in the main fields of intercultural understanding and supporting needy communities, through health promotion, eradication of diseases, provision of electric power to remote villages and hamlets and building orphanages and schools, and much more. As well as providing disaster relief and empowering women, youth and poverty alleviation. This donation will be allocated according to a well-devised plan throughout the coming years. It will be based on a strategy that is supervised and managed by a board of trustees headed by me to ensure that it will be used after my death for humanitarian projects and initiatives.”

Since most of my wealth was achieved from this blessed country, I have made giving back to Saudi Arabia my number one priority, after which our philanthropic efforts will extend to countries around the world in accordance with the regulations governing charitable activities.

You may rightly wonder, why am I doing this? My response is that everyone goes through certain life-changing situations that have a great effect on his or her crucial future decisions. I have had the opportunity to witness, first hand, the challenging conditions of many communities across the globe, first hand, and have stood among those who were suffering and in great need. I have also learned of overwhelming obstacles through meetings with the leaders of countries and communities around the world.

In addition, my foundations have been collaborating with other philanthropic organizations, NGOs, governments and non-profits for decades. Our work is far- reaching, providing humanitarian assistance to ease poverty and famine, supporting development, health and education, and encouraging long-term, sustainable change for the better.

Given the world’s current economic and social conditions, and the devastating effects of war and natural disasters around the world, more collaborative efforts are required from all capable individuals to unify their stand in the effort to alleviate poverty in the most deprived communities and to advance and build their societies.

I am making this announcement today as an illustration of God Almighty’s blessings, following His words in the Holy Qura’an: “But tell of the favors of your Lord,” (AlDhoha). As I see it, the time has come for me to share all that I have to support communities through my foundation, Alwaleed Philanthropies, which aims to initiate and support projects worldwide regardless of religion, race or gender. For 35 years, Alwaleed Philanthropies have developed and sustained projects in more than 92 countries. We collaborate with a wide range of philanthropic, governmental and educational organizations to combat poverty, empower women and youth, to develop communities, provide disaster relief and to nurture cultural understanding through education. Together, we can build bridges for a more compassionate, tolerant and accepting world. Ours is a belief in humanity without boundaries and a commitment towards all.

Press Release
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of the Board of Trustees of the Alwaleed Philanthropies, today announced his intention to donate all of his wealth to philanthropy over the coming years to help build a “better world of tolerance, acceptance, equality and opportunity for all.” This $32 billion philanthropic pledge will help build bridges to foster cultural understanding, develop communities, empower women, enable youth, provide vital disaster relief and create a more tolerant and accepting world. “It is a commitment without boundaries. A commitment to all humankind,” says Prince Alwaleed.

In his announcement, Prince Alwaleed stated:

“Based on my dedication and passion for philanthropic work for the past 35 years, I now pledge to donate my entire wealth to the Alwaleed Philanthropies, which work in the main fields of intercultural understanding, supporting needy communities, through health promotion, eradication of diseases, provision of electric power to remote villages and hamlets, building orphanages and schools, and much more, as well as providing disaster relief and empowering women, youth and poverty alleviation. This donation will be allocated according to a well-devised plan throughout the coming years. It will be based on a strategy that is supervised and managed by a board of trustees headed by me to ensure that it will be used after my death for humanitarian projects and initiatives.”

Prince Alwaleed has supported philanthropy for more than 35 years, donating $3.5 billion thus far through the Alwaleed Philanthropies. One of the leading philanthropic foundations in the Arab world, the Alwaleed Philanthropies serves millions of people across the globe. Prince Alwaleed has formed a board of trustees to oversee this gift, which will focus on finding impactful solutions to some of the most pressing humanitarian issues of our time, without regard to gender, race or religious affiliation.

“Philanthropy is a personal responsibility, which I embarked upon more than three decades ago and is an intrinsic part of my Islamic faith. With this pledge, I am honoring my life-long commitment to what matters most – helping to build a more peaceful, equitable and sustainable world for generations to come,” says Prince Alwaleed.

Through this historic gift, the Alwaleed Philanthropies, which have supported thousands of projects in more than 92 countries worldwide, will continue to partner with a range of philanthropic, government and educational organizations to support impactful programs. The Alwaleed Philanthropies believe that the answers to many of today’s most pressing global issues lie in the hands of youth. They are the leaders of tomorrow.

The Alwaleed Philanthropies have partnered with a wide range of global institutions including The Bill & Melinda Gates Foundation, The Carter Center, and the Weill Cornell Medical College to strengthen health care and control epidemics. On this occasion, Mr. Bill Gates, Co-chair of the Bill & Melinda Gates Foundation commented: “Prince Alwaleed’s generous commitment promises to significantly extend the great work that his foundation is already doing. His gift is an inspiration to all of us working in philanthropy around the world.”

In Saudi Arabia, they have worked on promoting more sustainable communities, through the Housing Initiative, which allows hundreds of thousands of eligible Saudi citizens to receive housing units, or through the Lighting Up Villages in Saudi Arabia Initiative.

Alwaleed Philanthropies also works in the area of women and youth empowerment, by supporting women in the local government field, for example, by providing courses for women to run for Municipal Council elections. Moreover, through the Turquoise Mountain organization, Alwaleed Philanthropies had helped Afghani women by advocating literacy.

As disaster relief providers, Alwaleed Philanthropies has extended a helping hand by its partners in many countries that have suffered from earthquakes and floods, like in Egypt, Jeddah, Nepal and Turkey. In addition to supporting those who had been affected by the Tsunami.

Building bridges between cultures and civilizations, is one of the Alwaleed Philanthropies main areas of focus, its work supports six existing centers in the most prominent international universities (Georgetown, Harvard, Edinburgh, Cambridge and the American University of Beirut and the American University in Cairo) in addition to the Islamic Hall at the Louvre in Paris.

Prince Alwaleed’s passion for humanitarian work, sustainability and change plays a vital role in the creation, mission and vision of the Alwaleed Philanthropies. The wide spectrum of global philanthropic projects undertaken by the Alwaleed Philanthropies are distinguished by their dedication to “building bridges for a better world” – without boundaries– and, regardless of gender, race, or religion.

For more information, please visit: http://www.alwaleedphilanthropies.org

publié le 7 April 2013

Qatar ’set to overtake UAE in projects market’

[#Over the coming five years Qatar could overtake the UAE as the GCC’s second largest projects market with more than $90 billion worth of projects likely to be tendered during the period, a report said.#]

[#
Contract awards are likely to peak at $24 billion in 2014, potentially seeing it overtake the UAE market in terms of project activity, according to the Meed Insight report.

The rapid acceleration in project tendering comes as Qatar seeks to build the necessary infrastructure in time for the 2022 Fifa World Cup.

With a strict timeline for the implementation of many projects, the government has little time to spare for proceeding with its investment plans, the report said.

“Despite hopes that 2012 would be the year that marked a ramp up in activity, delays in tendering and awards mean that 2013 is set to be the pivotal year,” says Ed James, head of Meed Insight.

“This will start with the award of the Doha Metro main packages which are expected to exceed $5 billion and will follow with a raft of contracts on the expressways, local roads and drainage, and sewerage programmes.”

Details of the state’s extensive projects programme are outlined in the Qatar Projects Market 2013 report by Meed Insight.

“According to the government, Qatar plans to spend between $100 billion and $150 billion over the next 10 years on new stadiums, hotels, transport and sewage infrastructure to meet the needs of the global event,” added James. This will turn Qatar into one of the world’s major project hubs almost overnight and represents a fantastic growth opportunity for regional and international contractors alike.”#]

publié le 2 November 2013

Qatar International Boat Show 2013 to attract region’s biggest marine suppliers

presse release

The first edition of the Qatar International Boat Show (QIBS) 2013 will take place from the 12-16 November at the Lusail Marina located within Lusail City. The marina is operated by Dubai-based marina developer and manager Mourjan Marinas. QIBS 2013 promises to provide an industry networking platform, generating solid opportunities for the promotion of new boats and services and creating a luxury market for affluent Middle Eastern and Asian buyers. QIBS will host events both on land and in the water, with around 100 international and local exhibitors attending, 150 boats on display, 5 global and regional launches and an estimated 15,000 visitors.

The opening hours will be from 3.00pm to 9.30pm for both trade professionals and the general public. It will host a variety of motorboats, cruisers, yachts, fishing boats, speedboats, recreational family boats up to 30m in size, and leisure marine products. In addition, dedicated areas will be available, offering information and advice regarding boat servicing, insurance, accessories, water sports, navigation equipment, engines, fixtures and fittings as well as fishing products.

Lusail Marina is a flagship yachting destination and the premier marina facility in the Middle East located along the coast just north of Doha in the prestigious Lusail City development. It features 93 modern floating berths that can host yachts of 10-40 metres in length. Facilities and services include three lounge areas with contemporary shade structures, underwater lighting, black and grey water ‘pump-out’ at the berths, 24-hour security, a five-star concierge service, marina cart service to and from your yacht, deck wash for all yachts and a refreshment kiosk.

Faysal Mikati, Vice President of Snow Comms – the event’s organiser, presented an overview of the boat show in light of the current situation of the maritime industry in the region, and the potential benefits that the QIBS can bring to Qatar.

“We have already signed with some of the biggest marine and leisure supply companies and distributors who seek to capitalise on Qatar’s booming economy and the upcoming marine industry,” he said. “The plan is to put Qatar on the map in terms of the international boat show circuit by becoming one of the main destinations for regional yacht and boat companies, as well as international companies involved in leisure and water sports, seeking investment opportunities in the GCC markets, estimated at around QR 750m.

“Recent studies on salaries of senior management executives, who are key customers for yachts and luxury boats, have revealed that disposable income of managers in the GCC is the highest in the world with all Gulf countries dominating the top six rankings,” he added.

Abdulaziz Al Zeyara, Strategic Planning Senior Manager, Lusail Real Estate Development Company said ’’Lusail Marina aims to become the number one destination for the yachting circuit in Qatar and Lusail City is pleased to be hosting the first edition of the Qatar International Boat Show as we are confident it will be a huge success.’’

Wayne Shepherd, General Manager, Mourjan Marinas said: ’’We are very pleased that Lusail Marina is the official host venue for this important event and to continue our support towards the local boating industry. The Qatar Boat Show is a great step for the marina and boating community here in Qatar, as the industry continues to grow and as Doha continues on its path to becoming a premier yachting destination in the Gulf. ’’

Visitors to the event will not only get to see the latest maritime products and boats but will also be able to enjoy amazing opening and closing ceremonies, the breath-taking ambience of the Lusail Marina and numerous entertainment shows from Europe.

Organised by international agency Snow Comms, and licenced by the Qatar Tourism Authority, the first Qatar International Boat Show 2013 will showcase a promising display of yachts, boats and marine accessories. The event is set to become an ideal marketing and networking platform for leading industry players in the boating and maritime sector in Qatar.

In conclusion, Faysal Mikati said: “We are grateful to our current sponsors, Lusail City, Mourjan Marinas, Qatar Airways as the official carrier, ‘World of Yachts and Boats’ as the official magazine and ‘Sur La Terre’ as the lifestyle partner, and we are also finalising further sponsorships with other prestigious companies in Qatar.”

publié le 3 December 2009

Qatar Islamic has $15m exposure to Dubai World

[#Qatar Islamic Bank said on Thursday it had exposure to a Dubai World Islamic bond maturing in 2017 worth QR54 million ($14.84 million).

The lender is the first Qatari bank to announce its exposure to the Dubai state-owned conglomerate, which is restructuring debts worth $26 billion.

’The financial impact currently will affect the negative investment fair value reserve,’ it said.

’QIB will keep observing the situation and its financial consequences which will be disclosed accordingly.#]

publié le 18 July 2013

Qatar: AIBA EC awards 2015 World Championships to the city of Doha

On Day Two of its 2013-2014 Meeting, the International Boxing Association (AIBA) Executive Committee (EC) awarded the 2015 AIBA World Boxing Championships to the city of Doha (Qatar).

Doha faced stiff opposition in the form of a rival bid committee representing the city of Bangkok (Thailand). Fully supported by His Excellency, Sheikh Saoud Bin Abdulrahman Al Thani, Secretary General of the Qatar Olympic Committee (QOC), the Doha delegation had travelled to Jeju with representatives from the QOC and the Qatar Boxing Federation.

"On behalf of the AIBA Executive Committee, I would like to congratulate the city of Doha for the impressive proposal they have put together", expressed Dr Wu. "The presentation we received today really confirmed the motivation the city and the entire country show in delivering the best AIBA World Boxing Championships ever. It is very exciting for AIBA to explore new horizons and we are looking forward to visit Doha in 2015. The AIBA EC also thanks the city of Bangkok and the representatives from the Thailand Boxing Association who presented us a very good bid".

"We are delighted with the trust and confidence of the AIBA Executive Committee", said Mr. Yousif Al Kazim, Secretary General of the QBF. "We have no doubt that the AIBA World Boxing Championships Doha 2015 will be one of the best in the history of the sport and that new standards will be set in this brand new region for AIBA. The AIBA EC Members know that we will not let them down! I want to take this opportunity to express my gratitude to His Excellency, Sheikh Saoud Bin Abdulrahman Al Thani, QOC Secretary General, for his full support and his guidance in this successful bid".

publié le 30 April 2014

Qatar: al khaliji credit rating upgraded to ‘A’ by Fitch

press release

• Long Term Issuer Default Rating upgraded to ‘A’
• Strengthened franchise, longer track record of solid performance, strong capitalization, and sound asset quality
• Good liquidity and demonstrated ability to grow its lending business according to management’s plan

Al Khalij Commercial Bank (al khaliji) Q.S.C. announced that Fitch Ratings has upgraded its long-term issuer default rating (IDR) to ’A’ from ’A-’. The outlook is "stable".
The ratings upgrade follows a comprehensive review by Fitch. Factors that led to the upgrade included al khaliji’s strengthened lending franchise, longer track record of solid performance and strong capitalization. Fitch noted that al khaliji’s rating benefits from a stable and supportive operating environment and reflects its conservative risk management and sound asset quality.
Commenting on the upgrade, al khaliji Group Chief Executive Officer Robin McCall said "This upgrade from Fitch is a testament to our success in strengthening the franchise operations and delivering a consistent performance that is above the industry average. We have a clear and distinct strategy with a focus on our home market of Qatar and the GCC. We will continue to deliver innovative financial solutions for our chosen preferred clients and to export our strengths to the bank’s operations in France and the UAE. The upgrade is recognition that al khaliji is now a leading player in its chosen markets.
Fitch defines those entities within ’A’ rating as exhibiting “high credit quality and low default risk”. The bank’s short term IDR rating has also been upgraded to ’F1’ from ’F2’ and the ’Viability Rating’ (VR) upgraded to ’bbb-’ from ’bb+’. The support rating has been affirmed at ’1’ and support rating floor raised to ’A’.
al khaliji’s loans and advances increased more than 63 percent year-on-year to QR 22.9 billion in Q1 2014 as well as an increased but measured roll out of the bank’s physical footprint in Qatar, with new branches opening in City Centre, Landmark and The Pearl.
This follows a record year in 2013 that saw substantive loan and revenue growth in line with al khaliji’s strategy.
Asserting that the bank takes the rating agency’s views earnestly, Robin McCall said: “Our strategy has always been to achieve an appropriate balance between risk and return for all stakeholders. We are grateful for the support of both the Qatar Central Bank and the State of Qatar which has allowed financial institutions to flourish in this stable economic climate.”
The assigned rating is an independent and objective opinion on the bank’s risk profile and risk management culture which permeates across the al khaliji Group.

publié le 12 May 2015

Qatar: al khaliji obtains strong first time credit rating from Moody’s Investor Services

Press release

Al Khalij Commercial Bank (al khaliji) Q.S.C, is pleased to announce that Moody’s Investors Services has assigned first time credit ratings of A3 to al khaliji with a Stable outlook. Moody’s defines obligations rated in the A range as subject to low credit risk.

Moody’s reported that the bank’s strong macro profile takes into account its operations in Qatar (Strong-), the UAE (Strong-) and France (Very Strong -) and the fact that al khaliji’s main operations are in Qatar. Solid asset quality, solid capitalization and a strong liquid asset position were also contributory factors in this strong initial rating.
Fahad Al Khalifa, Group CEO, Al Khalij Commercial Bank (al khaliji) Q.S.C commented: “We are pleased with this A3 rating from Moody’s, our second credit rating from the major rating agencies. This strong rating from Moody’s recognizes the continued growth at al khaliji across our operations in Qatar, UAE and France and will assist us as we continue to diversify our sources of funding to support our ambitious growth plans”.
Al Khalifa added, “as our franchise continues to grow, we remain firmly focused on our valued clients. We are relationship driven and will continue to serve all our clients across the al khaliji Group by providing innovative financial solutions coupled with the highest levels of service. The growth in our franchise was a contributory factor in the recent ratings upgrade we received from Fitch”.
al khaliji published its Q1, 2015 financial statements in April, these showed strong growth with Net Profit increasing to QAR144.4 million, up 32% year on year, Loans and Advances growing 31% to QAR 30 Billion supported by strong growth in Customer Deposits which were up 32% on the same period in 2014. al khaliji is already rated A+ by Fitch Ratings, following a ratings upgrade earlier in 2015.

publié le 27 March 2015

Qatar: Egis awarded EPCM contract for rehabilitation of Al Karaana lagoon

Press release

Located in the Al Rayyan region, west of Doha, the Al Karaana lagoon covers more than 4 sq.km and is raising serious environmental problems. Almost 60,000 cubic metres of untreated wastewater per day is discharged onto this site by tanker, most notably causing the contamination of the water table by infiltration, producing foul odours and creating safety risks connected with the transport of sewage.

The Public Works Authority of Qatar, Ashgal, has just awarded Egis an engineering, procurement and construction management (EPCM) contract to rehabilitate this lagoon. Ashgal wishes for the eradication of the lagoon and the site’s comprehensive overhaul, in continuance of the measures taken to date to mitigate its environmental impact.

Egis’ assignments

Teams from Egis will be tasked with identifying and qualifying the lagoon’s waters and sludge in order to appreciate the contamination of the water table and evacuate this waste to the appropriate treatment processes.

They will carry out the design of the wastewater treatment and the soil and water table decontamination, write the tender documentation, perform the design review of the plans and documents submitted by the selected contractor, and finally supervise the works.

Egis will consequently be mobilising all of its engineering capabilities for a period of 23 months to reduce to a minimum the environmental impact of this site, then redevelop it and convert it for new uses, in accordance with its sustainable development commitments.

This new contract gained follows another one awarded several weeks ago, also in the water sector: the extension of the Doha West waste water treatment and recycling plant.

The contract further bolsters Egis’ position in Qatar, where the Group generated almost 33 million euros of turnover in 2014 from its contributions to a large number of infrastructure projects.

About Egis

€881 million turnover in 2013

12,000 employees

Egis is an international group offering engineering, project structuring and operations services. In engineering and consulting, its sectors of activity include transport, urban development, building, industry, water, environment and energy. In roads and airports its offer is enlarged to encompass project structuring, equity investment, turnkey systems delivery, and operation and maintenance services. Employing 12,000 people, including 7,500 in engineering, the group generated a turnover of €881 million in 2013.

Egis is 75% owned by the French "Caisse des Dépôts" and 25% owned by Iosis Partenaires, (a "partner" executive and employee shareholding)

publié le 14 June 2016

QIB Named ‘Islamic Bank of the Year’ in Qatar and the Middle East by The Banke

For the second year in a row The Banker, the world’s longest-running international banking title and the leading monthly title of the Financial Times Group, named QIB the ‘Islamic Bank of the Year’ in the Middle East at the magazine’s prestigious annual Islamic banking awards. 2016 also marks the fourth consecutive time that QIB was selected as Qatar’s ‘Islamic Bank of the Year’.

Established in 1926, The Banker is read by senior decision makers at the world’s foremost financial institutions. Each year, The Banker produces a definitive ranking of the industry’s best Islamic financial institutions in order to promote and reward excellence in the global Islamic banking community.

“We are pleased to have been named the ‘Islamic Bank of the Year’ in both Qatar and the Middle East again this year”, said Mr Bassel Gamal, QIB Group CEO. “These awards are the result of the vision of our Board of Directors and of the hard work put in by QIB’s employees. Thanks to their dedication and professionalism and the loyalty of the Bank’s customers and the continuous support of the board, QIB has become a leader among the region’s Islamic financial institutions.”

In a special report about the magazine’s Islamic Bank of the Year Awards, The Banker explains that QIB was chosen as its Middle East and Qatari Bank of the Year in large part because of its “remarkable growth” in 2015 and its recent involvement in a number of high-profile syndicated deals in the MENA region. According to the magazine, “The judges were impressed by QIB’s corporate banking growth, as well as the Bank’s financial institutions division growth, driven by a greater level of involvement in several bilateral and syndicated financing transactions to regional and international banks”. A leader in the local retail banking market, the Bank continues to increase its market shares in individuals’ financing and deposits.

QIB continues to experience steady growth across a broad range of key performance indicators. In 2015, the Bank’s total income rose 24% to reach QAR 4.51 billion and its net profits grew by 22%, closing out the year at QAR 1.95 billion. During that same time period, QIB’s total assets increased by 32%, with customer deposits rising 37% and financing activities growing an impressive 46%. The total assets of the Bank stand at QAR 127 billion, of which QAR 92 billion consist of customer deposits. These impressive results are driven by robust growth in financing activities, which by end of 2015 reached QAR 87 billion, QAR 28 billion higher than in 2014. The Bank currently commands a 41% share of the Islamic sector in Qatar and 11% of the overall domestic banking sector.

“Winning ‘Middle East Islamic Bank of the Year’ shows how important Qatar’s Islamic financial sector has become in the MENA region”, said Mr Gamal. “In the past few years, QIB has played a leading role in some of the Middle East’s biggest and most exciting financial transactions. We are pleased to be a major player in the region’s Islamic banking market and to help elevate the profile of this influential sector of the financial industry.”

The award from The Banker is added to the other recent attention and praise for the Bank in 2016. QIB was recently recognised by Euromoney as the ‘Best Bank in Qatar’ for the first time. In April, Mr. Bassel Gamal, QIB Group CEO, was ranked first among 100 best-performing CEOs of listed companies in the GCC states at the TRENDS/INSEAD 2016 Top CEO awards. QIB was also named as the ‘Best Islamic Retail Bank’ in the world and ‘Best Islamic Bank’ in Qatar by Global Finance.

publié le 23 January 2011

QInvest exclusively wins ‘Best Sharia Compliant Firm’ award

Press release

[#Qatar’s leading investment bank, QInvest, has exclusively won the prestigious award for ‘Best Sharia Compliant Firm’ at the Private Equity World Awards (PEWA) Gala Dinner in the United Arab Emirates.#]

[#
QInvest’s Chief Executive Officer, Shahzad Shahbaz, said: “We are honored that the PEWA Awards have chosen to recognize QInvest and its achievements. This award affirms the wisdom of our investment strategy that delivers value, performance to investors and innovative investment opportunities to our clients."

In winning the ‘Best Sharia Compliant Firm’ award, QInvest competed against a number of well known investment banks and financial firms in Qatar UAE, KSA, Germany, and Bahrain.

PEWA recognizes the outstanding achievements of the Middle East’s major finance houses who, like QInvest, positively contribute to the development of the region’s private equity industry.

“While these awards acknowledge our past achievements, we are very focused on continuing to bring innovative solutions to the market to leverage future investment opportunities.” Shahbaz concluded.

About QInvest

QInvest was licensed by the Qatar Financial Centre Authority in April 2007 and is authorised by the Qatar Financial Centre Regulatory Authority. The Bank has authorized capital of USD 1 billion and paid up capital USD 750 million.

Led by Chairman H.E. Sheikh Jassim Bin Hamad Bin Jabr Al Thani, and Chief Executive Officer Shahzad Shahbaz, QInvest has created a world class investment banking capability operating under Sharia’a compliant structures, with the highest standards of governance and transparency.

The QInvest shareholder structure includes Qatar Islamic Bank and other institutional investors, as well as prominent high net worth individuals from across the region. The platform offers a broad range of expertise which enables QInvest to deliver a high value service to clients, seamlessly covering advisory, financing and investment needs.

QInvest’s business lines include investment banking, investment management, brokerage and wealth management with dedicated origination and placement teams.

With over 130 staff, including 65 front office professionals, QInvest’s talented team of investment bankers brings a valuable mix of both international experience and regional knowledge, enabling the Firm to pursue opportunities across its chosen markets of the Middle East, Africa, Turkey, South Asia and South-East Asia.

Extending beyond this geographic focus, the firm also pursues opportunistic transactions globally where it identifies high value propositions for clients.

www.qinvest.com#]

publié le 2 August 2013

QInvest’s QMAP funds to be included in the RBC Investor & Treasury Services fund platform

Press release

QInvest, Qatar’s leading investment bank, is pleased to announce the inclusion of the QInvest Managed Account Platform (QMAP) funds to The Global Fund Platform of top 10 global custodian and asset servicer RBC Investor & Treasury Services.

QMAP, launched by QInvest in the first quarter of 2013, is the world’s first open architecture Sharia’a compliant managed account fund platform, which brings the capabilities of some of the best managers in the world to investors, who would like to adhere to the principles of Sharia’a.

Through the RBC Investor & Treasury Services’ platform, investors and fund selectors from across the globe that use the platform’s open architecture environment can now access a wide selection of Sharia’a compliant funds.

The Global Fund Platform helps both managers and buyers fully exploit and adapt to the changing dynamics of the global fund distribution market. It allows fund buyers to optimise fund selection with access to over 90,000 share classes registered with a network of over 400 transfer agents.

Mr. Tamim Hamad Al-Kawari, QInvest’s CEO, said: “QMAP is a pioneering solution that provides QInvest clients and shareholders with a new investment platform that comply with Islamic Sharia’a. We are very pleased to include QMAP offering on the RBC Investor & Treasury Services distribution platform. This will significantly strengthen QInvest’s reach to global investors”.

publié le 16 December 2012

QNB Group receives two prestigious awards from The Banker

[#QNB Group, the largest financial institution in the State of Qatar, and the MENA region, has been awarded the ’Bank of the Year - Qatar’ as well as the ’Bank of the Year - Middle East’ regional Award by one of the industry’s most recognised and respected resources, The Banker.#]

[#Both of the Awards were presented to QNB Group at the Awards Gala Dinner which was held at the Intercontinental Hotel in London on the evening of November 28th.

This latest award for QNB tops off what has been a fantastic year for the Bank which has seen it awarded a slew of awards throughout the past 12 months as well as having enjoyed continued financial success.

As in previous years, the 2012 The Banker Awards will once again set the industry standard for banking excellence with these awards being among some of the most intensely contested by the world’s leading financial institutions. Winners were judged on their ability to deliver shareholder returns and to gain strategic advantage. This draws parallels to QNB’s unwavering commitment to be the institution of choice for customers.

Thanks to this latest win, QNB will benefit from increased market visibility and enjoy this new position. Continuing on, the Bank is still deeply committed to continuously improving the way that it operates through innovative offerings and is always refining its services.

The Banker is one of the world’s premier banking and finance resources, bringing it with a wealth of knowledge and experience. Further, The Banker is a key source of data and analysis for the Banking industry worldwide.

QNB Group recorded a net profit of QR6.2 billion (US$1.7 billion) in the nine months ended 30 September 2012, up by 15.0% compared to the same period last year, demonstrating QNB Group’s success across business activities and the ability to achieve strong growth in profitability for the benefit of shareholders. Total assets increased by 25.3% since 30 September 2011 to reach QR351.0 billion, the highest ever achieved by the Group.

The Group has witnessed rapid international expansion in the past few years and operates in 24 countries around the world through its network, subsidiaries and associate companies employing about 8,500 staff, along with a network of 383 branches and offices and an ATM network that exceeds 780 machines.

- Ends-

About QNB Group
Qatar National Bank (QNB), established in 1964 as the country’s first Qatari-owned commercial bank, has an ownership structure split between the Qatar Investment Authority (50%) and the private sector (50%).

QNB Group has steadily grown to be among the largest banks in the Middle East and North Africa Region and is by far the leading financial institution in the country with a market share exceeding 45% of banking sector assets.

QNB Group has witnessed rapid international expansion in the past few years and operates in 24 countries around the world through its network, subsidiaries and associate companies employing about 7,600 staff from 345 branch and offices that are supported by an ATM network that exceeds 670 machines.

The Group has also extended its regional reach by acquiring stakes in various financial institutions including 35% stake in the Jordan-based, The Housing Bank for Trade and Finance (HBTF), 24% in Commercial Bank International (CBI) based in the United Arab Emirates (UAE), 50% of the Tunisian-Qatari Bank, 51% in the Iraqi-based Mansour Bank, 49% in the Libyan Bank of Commerce and Development and 20% stake in Al Jazeera Finance Company in Doha. QNB Group also retains 51% stake in QNB-Syria, a private stock company established jointly with other Syrian private and public sector institutions which started operations mid November 2009 and operates today more than 15 branches in the Syrian Republic.

QNB Capital, a subsidiary of QNB Group, was established in 2008 providing an array of investment banking services to corporate, government and institutional clients within Qatar and globally. These include one of the best corporate finance teams in the GCC region offering extensive transaction experience, in depth advisory services - including mergers and acquisitions, equity, debt and project advisory, as well as first-class research capabilities.

QNB Financial Services (QNB FS) commenced trading on the Qatar Exchange in May 2011 and is the first independently regulated, licensed brokerage unit launched by a bank in Qatar. QNB FS brokerage offers a multi-market, multi-currency trading platform with access to several GCC markets including Qatar, UAE, and Oman. It also provides a trading solution for buying and selling securities on the US and European markets. QNB FS’ technology platform is enhanced by its in-house research team who provide fundamental research and analysis, sector reviews, and daily commentary on QE listed equities. Its advisory and brokerage teams are structured to service institutional investors, mutual funds, high-net worth individuals, retail and corporate clients locally, regionally, and globally.

QNB Group is among the highest rated regional banks from leading credit rating agencies including Standard & Poor’s, Moody’s, Fitch, and Capital Intelligence. The Bank has also been the recipient of many awards from leading international specialized financial publications.

QNB Group has an active community support program and sponsors various social, educational, and sporting events
#]

publié le 24 February 2012

QNB to Sponsor French Football giants Paris Saint-Germain

press release

[#As the result of its international expansion and steady growth across all banking activities, Qatar National Bank (QNB) Group has signed a sponsorship agreement with Paris Saint-Germain (PSG), a powerhouse of European football and one of the world’s most storied football clubs.#]

[#QNB Group, one of the leading banking brands in the Middle East and North Africa region, will utilise brand placement opportunities at Parc des Princes stadium, the iconic home of PSG, as well as all ancillary club facilities, in addition to having a prominent presence on the Club’s website.

The agreement will help QNB elevate its brand visibility and presence to highlight its growing activities, which are supported by a physical network in 24 countries around the world, including a full branch in the French capital, Paris.

This partnership, which is the first of its stature and calibre for QNB Group outside the State of Qatar, makes QNB Group one of the most prominent partners from the region actively supporting European sport, as well as positions it as a key partner for sport in the city of Paris.

This is an opportunity for QNB Group to highlight its brand’s vision and strategy for the future covering world-class banking and financial services offered by the Group in the markets where it has presence. Additionally, the agreement comes in line with QNB Group’s brand promise of being a partner committed to supporting at every level the growth and successes of the societies and economies in which it operates.

Since 1978, when it established its branch, located near the Arc de Triomphe in Paris, QNB Group has been offering a full range of banking services to individuals and corporate entities. This is supported by the bank’s wide international network which has grown to employ 7,000 staff at 334 branches, offices, subsidiaries and affiliates in 24 countries around the world.

QNB Group was recently recognised as the #1 Banking Brand from the Middle East and North Africa by The Banker Magazine which published its report in February 2012. In addition to being the leading banking brand in the region, the Top 500 Banking Brands of The World report rated QNB Group’s brand the 114th leading brand in the global financial services arena.
#]

publié le 27 August 2011

QOC launches Doha bid for 2020 Olympic and Paralympic Games

The Qatar Olympic Committee (QOC) President H.H. Sheikh Tamim Bin Hamad Al-Thani Friday officially launched Doha’s bid for the 2020 Olympic and Paralympic Games.

[#Following confirmation received from Jacques Rogge, President of the International Olympic Committee (IOC), regarding flexibility on the dates for the 2020 Games, H. H. Sheikh Tamim, said:

“In light of the decision of President Rogge and the IOC Executive Board, I am delighted to formally announce Doha’s bid to host the Olympic and Paralympic Games in 2020. It is fitting that the dream of hosting the Games should come to the Middle East at this time; our bid can inspire peace and is a priority for our youthful region. Sport and Olympism together instil self-discipline, teamwork, drive and help teach all of us the means of achieving our personal goals. To simply have a chance to enter the bidding process is a step closer to realizing something very special for our nation, our region and the Olympic Movement.”

H.H Sheikh Tamim added; “I wish to personally thank Jacques Rogge and the IOC for guiding us through and supporting the QOC in entering the bidding race without the disadvantage of dates. I look forward to working closely with the IOC and the wider Olympic Family hopefully all the way through to the IOC Session in Buenos Aires in September 2013 for what could be an historic moment for the Olympic Movement and the Middle East.”

H.E. Sheikh Saoud Bin Abdulrahman Al-Thani, Secretary General of QOC, said: “We appreciate the understanding shown by the IOC and we have listened and learned from our 2016 attempt to bid for the Games. We have also consulted all of the current Olympic sport International Federations and are pleased to have received a very favourable response to our proposed dates. This has been a fruitful journey, and we are pleased that the IOC has granted us permission to propose hosting the Games between September 20th and October 20th. We know that it is imperative that we guarantee ideal conditions for athletes, technicians and spectators, and ensure events are scheduled appropriately for broadcasters and that is what we will do.”

Sheikh Saoud added: “Doha already has the experience of hosting many international sporting competitions, and we are fully committed to continuing our extensive investment in sport and sporting infrastructure. We have the passion, desire and the commitment to host an Olympic and Paralympic Games that the whole world will be proud of. We would ensure that a Games in Doha will be a fitting tribute to the work of the Olympic Movement to help create a better world through the power of sport.”

Nasser Al Attiyah, an Olympic sportsman, currently preparing for the London 2012 Olympic and Paralympic Games, said: “Doha’s bid for the 2020 Games is designed to inspire hope in a new and youthful Middle East, offer the entire region a chance to connect with the positive values of Olympism and greatly contribute to the promotion of the Olympic Movement throughout the region and around the world. We can bring the world’s greatest sporting event to new audiences and highlight how the spirit of human dignity and peace can be fostered through sport, helping to build bridges of understanding between different cultures, communities and nations.

“As a young boy, I watched the Games through a television screen, today I have the opportunity to actively represent my country in the Olympic Games and for me to welcome my fellow athletes and IOC Family as host to the Games would be a dream come true.”#]

publié le 20 November 2011

RAK FTZ continues impressive growth; 413 companies register in Q3

press release

[#Further reinforcing its impressive success in 2011, Ras Al Khaimah Free Trade Zone (RAK FTZ) – one of the fastest-growing and most cost-effective free trade zones in the UAE – today announced that 413 new companies registered in the third quarter of 2011. This represents a significant increase of 38.6% over the same period last year, when 298 new companies registered.#]

[#The tremendous growth achieved by the free zone is reflected in year-to-date figures with a a total of 1,509 companies registered in the period January-September 2011, compared to 1,173 companies registered in the same period last year - a 28.65% year-on-year increase.

According to recently released statistics, licence renewals also showed impressive growth – with 828 licences renewed between July and September 2011, compared to 753 renewals in the same period last year. The exceptional growth in new registrations and renewals amidst the challenging economic climate re-emphasises the world-class standards, facilities and services on offer at RAK FTZ.

The vast majority of the new companies originate from UAE and India, with other new partners hailing from Afghanistan, France, the Netherlands and Pakistan. Together with new registrations, the total number of registered companies operational at RAK FTZ by the end of Q3 2011 has reached in excess of 5,000.

Commenting on performance, Oussama El Omari, RAK FTZ CEO, said: “The tremendous increase in new registrations and licence renewals in the third quarter of 2011 reflects investor confidence in our business model. We have always believed in offering a transparent and open door investor-friendly environment at RAK FTZ and this has helped us build our reputation as one of the most attractive investment zones in the region.”

“The fact that this achievement came amidst a volatile business atmosphere, and covered the traditionally slow summer months, is even more commendable. We are looking ahead confidently to achieve record growth in our registrations by the end of this year. More importantly, we are thrilled and privileged to be playing a pivotal role in contributing to the economic growth of the emirate, and the UAE as a whole,” he added.

Since the start of 2011, RAK FTZ has focused on powering up its key value-added services for customers through a series of new online and offline marketing initiatives. As part of this, the free zone is planning to officially launch its ‘Home of Business’ campaign this month, which will supported by a strong publicity drive across the print and radio media. To further reinforce its popularity, RAK FTZ was a strong participant at the recent GITEX 2011 event.

The free zone also plans to host a number of business delegations in the coming months, as well as actively participating in key exhibitions in France, in November. RAK FTZ also attracted a significant amount of global interest following recognition from fDi Magazine and Financial Times Business where it was ranked the fourth best overall Middle East Free Zone of the Future by in the publication’s 2011-2012 listing.

With optimistic plans to assist and encourage entrepreneurs, especially SMEs, the multi-award winning RAK FTZ continues to live up to its reputation of ‘best emerging free trade zone’ in the region.#]

publié le 18 April 2011

RAK FTZ posts 17% increase in new company registrations in Q1 2011

Press release

Licence renewal up by 36% compared to the first quarter of 2010

[#RAK FTZ one of the fastest-growing and most cost-effective free trade zones in the UAE - has announced today that 522 new companies have registered with the free zone in the first quarter of 2011, a 17% increase in registrations over Q1, 2010.#]

JPEG - 12.9 kb
Oussama El Omari RAK FTZ CEO

[#

RAK FTZ also announced that a total of 970 licences were renewed during Q1 of 2011, compared to 710 licences renewed in the corresponding period in 2010, representing an increase of 36.6%. The phenomenal growth in new registrations and licence renewals achieved in the extremely challenging economic environment in the region reflects the world-class standards, facilities and services on offer at RAK FTZ.

Among the 522 companies that registered in the January-March 2011 period, the majority (top 10) are from India, followed by United Kingdom, Egypt, Pakistan, Turkey, France, Germany, USA, Jordan and the Russian Federation. With the new entrants, the total number of registered companies operational at RAK FTZ by the end of Q1, 2011 was well over 5,000.

Commenting on the growth, Oussama El Omari, RAK FTZ CEO, said: "The tremendous increase in new registrations and licence renewals in the first quarter of 2011 reinforces our reputation as one of the most attractive investment zones in the Middle East. Our open door economic development policy has gone a long way towards gaining investor confidence from across the globe, as is evident from both the new registrations and the renewals. More importantly, the environment to grow and flourish has become a hallmark of RAK FTZRAK FTZLoading... that is greatly admired by our investors."

"With a positive start to the year, RAK FTZ is looking forward to more successful business liaisons, new company registrations and further increases in revenue - a positive outlook that will do Ras Al Khaimah, as well as the whole UAE, a world of good. That this achievement came amidst a volatile business atmosphere is even more commendable. Our existing and potential clients expect certain standards, and we are committed to meeting those needs and expectations. With some leading companies making their way to RAK FTZRAK FTZLoading..., we are, ultimately, contributing to the economic growth of Ras Al Khaimah and the UAE as a whole," added El Omari.

Since the start of 2011, RAK FTZ has focused on powering up its key value-added services for customers through online and offline marketing initiatives. Some of the marketing activities undertaken in Q1 include RAK FTZ’s participation in the Partner Middle East Roadshow organised by UK Trade & Investment in the UK. The RAK FTZ also organised a seminar in close cooperation with the Middle East Association in London.

Apart from this, RAK FTZ took an active part in the 3rd Mondissimo International Mobility Conference in Paris in March 2011, where El Omari made a presentation on "Growth opportunities in the Gulf Region. This was a great opportunity for RAK FTZ to showcase the key facilities and services on offer at the zone and tap the potential of the French market.

Further emphasising the growing significance of the Indian market and investments from the country, RAK FTZ also organised and executed four road shows in India in Ludhiana, Mumbai, Bangalore and Ahmedabad, apart from one inward business delegation from India to Ras Al Khaimah. Moreover, representatives from RAK FTZ also participated in the World SME Conference in India and the Polish-Arab Investment Forum in Poland, where they made presentations. Similarly, RAK FTZ actively participated in a number of networking events in the US and Turkey.

RAK FTZ impressive growth comes amidst large-scale infrastructure development currently under way in the Northern Emirates, with encouraging support from the UAE Federal government. Logistics and infrastructure are inextricably linked, and future industry sector growth is supported by the ongoing development of vital projects across the country.

This includes a USD 43.3 million plan to construct a 36-kilometre main pipeline to provide Ras Al Khaimah with water, as well as a solar island project.

Additionally, Ras Al Khaimah has announced an ambitious development programme, valued at USD 822 million, to upgrade its road infrastructure, besides upgrading its sewage networks, by 2015, to accommodate a projected population increase to 600,000 residents. All these infrastructure investments will benefit businesses and communities and create opportunities for investors planning to make Ras Al Khaimah their base.

About the Ras Al Khaimah Free Trade Zone

RAK FTZ is one of the fastest-growing and most cost-effective free trade zones in the United Arab Emirates (UAE). With a reputation for affordability, flexibility and broad geographical reach, RAK FTZ is rapidly emerging as the preferred business hub in the region, from which investors can easily access and branch into the emerging markets.

2010 marks RAK FTZ’s 10th year in operation, and in the past decade, it has gone from strength to strength, garnering accolades and awards along the way. Since its establishment in 2000, with only a handful of staff and a few offices, the free zone has grown by leaps and bounds and is now home to some 5,000+ active companies from 106 countries around the globe, employs more than 350 fulltime staff, operates business and promotion centres in four locations in the UAE and has an expanding international presence, with liaison offices in Germany, Turkey, India and the USA.

To learn more about the RAK Free Trade Zone, visit: www.rakftz.com

For further information, please contact:
Cleo Eleazar
Public Relations and Media Officer
Ras Al Khaimah Free Trade ZoneRas Al Khaimah Free Trade Zone
Ras Al Khaimah Free Trade Zone
RAK FTZ, RAK Free Trade Zone Authority (RAK FTZA)
Phone: +971-7-2077173
E-mail: c.eleazar@rakftz.com#]

publié le 9 October 2012

RAK FTZ records increase in new company registrations

press release

[#Ras Al Khaimah Free Trade Zone (RAK FTZ) – one of the fastest-growing and most cost-effective free trade zones in the UAE – today announced a 4% year-on-year increase in new company registrations in the first half of 2012, according to the audited reports by PricewaterhouseCoopers (PwC).
#]

[#

  • Revenue from new registrations up by 10% in H1 2012
  • Company registration up by 4%, compared to last year

A total of 1,145 new companies registered with RAK FTZ in H1 2012, a significant increase from the 1,101 companies registered in the first half of 2011. Revenues from the registrations touched AED 123.55 million, a 10.21% increase compared to the AED 112.1 million generated during H1 2011, revealed PwC in the report.
This growth has far outstripped the budgeted revenue and registration targets for the free zone this year.

In addition, RAK FTZ’s growing reputation also received a major fillip as it was recently named as one of the Top 50 Free Zones in the fDi Global Free Zones of the Future 2012-2013 rankings, which recognised the free zone’s various attributes, including its cost-effectiveness and economic potential, on offer.
The top new companies at RAK FTZ that registered during H1 2012 came from India, the UK, Jordan and Pakistan, among others. A vast majority (62%) of the newly registered companies represent the commercial sector, followed by consulting (28%) and general trading (9%), as shown in the PwC report.
In her comments, Maryam Al Murshedi Al Shehhi, Deputy Director General of RAK FTZ, said: “The RAK Free Trade Zone’s philosophy centres on attracting and maximising the growth of value-added, know-how based, and technologically advanced businesses in Ras Al Khaimah.

This has seen us attracting some top companies to the region over the last 12 years. The tremendous and continuous growth in our new client portfolio reflects the investors’ confidence in our transparent and business-friendly environment.”

“RAK FTZ is a major contributor to the GDP growth of the emirate, and in turn the UAE. The reason we have seen amazing growth is that we not only offer unmatched benefits for our clients, but also extend a strategic hub-and-spoke destination for businesses, especially for those who wish to expand in the Middle East and Northern Africa. The fDi ranking allotted to us also sends out a clear message to the global business community that RAK FTZ is indeed ‘The Home of Business’ in the Middle East,” said Al Shehhi.
She further added: “We are quite confident that RAK FTZ will achieve unprecedented growth levels by the end of 2012.”

To reinforce its growth strategy, RAK FTZ powered up its key value-added services for customers through online and offline marketing initiatives. This included a number of marketing outreach activities in the UAE and the GCC, as also reaching out to prospective investors in India, France, Turkey, Jordan, Nigeria, Russia, Pakistan, China, and other countries. In addition, RAK FTZ participated in several trade visits and conferences in India and China, organised by the UAE Ministry of Foreign Trade.

Emphasising its role as a good corporate citizen, RAK FTZ also undertook a number of Corporate Social Responsibility initiatives within the emirate and beyond in the first half of 2012. These included support to RAK Half Marathon, RAK Terry Fox Walk, RAK Traditional Rowing Regatta, Beat the Heat campaign and Iftar gatherings at labour camps.
RAK FTZ also played pivotal roles in some community initiatives in H1 2012, including the inauguration of a spa, support to the Ramadan volleyball tournament, a can collection drive, sponsorship of the Holy Quran competition and a football fiesta, among others. It also sponsored the 37th Arab Deaf Week activities, organised ‘healthy food day’ for the RAK FTZ staff and sponsored a charity Iftar, apart from extending donations to a number of charity establishments.#]

About Ras Al Khaimah Free Trade Zone Authority:

Ras Al Khaimah Free Trade Zone (RAK FTZ) is one of the fastest-growing and most cost-effective free trade zones in the United Arab Emirates (UAE). With a reputation for affordability, flexibility and broad geographical reach, RAK FTZ is rapidly emerging as the preferred business hub in the region, from which investors can easily access and branch into the emerging markets.
2010 marked RAK FTZ’s 10th year in operation, and in the past decade, it has gone from strength to strength, garnering accolades and awards along the way. Since its establishment in 2000, with only a handful of staff and a few offices, the free zone has grown by leaps and bounds and is now home to some 6,000+ active companies from 106 countries around the globe, employs more than 350 full-time staff, operates business and promotion centres in four locations in the UAE and has an expanding international presence, with liaison offices in Germany, Turkey, India and the USA. To learn more about RAK FTZ, please visit:www.rakftz.com

publié le 15 December 2012

RAK FTZ sheds light on key priorities in the changed business landscape

press release

[#Ras Al Khaimah Free Trade Zone (RAK FTZ) – one of the fastest-growing and most cost-effective free trade zones in the UAE – organised a special business event for its clients on 22 November 2012.
#]

[#The event, held at InterContinental Dubai Festival City in Dubai, showcased a series of presentations from prominent speakers, which shed light on key priorities in the changed business landscape across the region. The event was attended by more than 400 clients of the free trade zone, from different industries such as trading, consulting, and industrial.

Maryam Al Murshedi Al Shehhi, Deputy Director General of RAK FTZ, welcomed the attendees and opened the session. In her welcome note, Al Shehhi highlighted the development and growth of RAK FTZ.

“We have 1,935 new companies in the RAK FTZ family this year, and by the end of 2012, we expect this number to increase significantly. We would like to credit this performance to a host of factors – from our transparent, investor-friendly policies to our strategic location,” she said.

Thanking the clients, Al Shehhi, added, “We would like to thank our clients for their confidence in our unique business model. This initiative to host a business lunch for our clients is aimed at boosting our interaction and commitment to our clients’ growth journey.”

The panel of prominent speakers at the event included Marcus Wallman, Partner - Commercial Advisory at Al Tamimi & Co., and Ammar Haykar, Litigation Partner at Al Tamimi & Co., who addressed the audience on ‘Contracting under the UAE law’. This address was followed by Liz Martins, Senior Economist - Global Banking and Markets at HSBC Bank Middle East Limited, whose topic was about ‘The Middle East and North Africa in a troubled global economy’.

The event also encompassed a speech by motivational speaker Carol Talbot, Owner of Matrix Training Solutions, which focused on ‘Leading from the Inside Out’.

The networking lunch after the event was attended by HH Sheikh Faisal Bin Saqr Al Qasimi, Chairman of RAK FTZ who mingled and chatted with the attendees.

Kholoud El Fouly, Director of Client Relations of RAK FTZ, said: “By gathering our clients and bringing together a panel of experts to talk about the matters that add value to their businesses, we hope that it will produce a host of valuable ideas, support their particular needs and gain insights that can add value to their businesses.

The successful event is one of the many activities planned by RAK FTZ for its clients. El Fouly also revealed that RAK FTZ clients could expect more events in 2013.
#]

publié le 16 January 2014

RAK FTZ wins prestigious EPDA award for best environmental practices

press release

In recognition of its innovative environmental protection initiatives, the Ras Al Khaimah Free Trade Zone ( RAK FTZ ) has received the prestigious Environment Protection and Development Authority (EPDA) award for the Best Environmental Practices in Ras Al Khaimah.

EPDA aims to protect the environment and the sustainability of its resources. It provides environmental awareness services and promotes the concept of environmental citizenship through the application of environmental laws and regulations. It also conducts studies and research that contribute to the protection of natural resources.

The competition took place under three categories: federal government entities, local government entities and hotels. The RAK FTZ won under the local government category, based on a list of standards that includes organising corporate environmental events, promoting green areas, reducing the usage of paper, reducing electricity and water consumption, efficient waste management and Environment, Health and Safety (EHS) initiatives across the organisation.

"Environmental protection is a top priority at RAK FTZ , and it gives us immense pleasure to receive the EPDA award," said Peter Fort, Chief Executive Officer of the RAK FTZ . "We are continuously looking at ways to curb the environmental impact of our processes. This recognition of our dedication towards environmental protection encourages us to continue on our commitment."

Eyad Ismail, Head of Engineering Department, RAK FTZ , added, "We introduced many new environment protection schemes last year, including setting up a safe and comfortable work environment, paperless office initiative, save electricity competition, save energy awareness campaign, fire and safety awareness campaign, fire drills, fixing water-saving faucets in taps, planting trees, sending paper for recycling and others. The RAK FTZ is committed to the cause of a sustainable tomorrow, and we shall continue our efforts proactively."

The award was handed over during a ceremony at the Ras Al Khaimah Chamber of Commerce on 31 December 2013. With the RAK FTZ ’s regular social and environmental initiatives, including its EHS projects, Clean-Up UAE campaign, Healthy Employee Lifestyle Programme (HELP), numerous blood donation campaigns, support to cancer research in the UAE and several sports and educational programmes within the country, the organisation is known for its Corporate Social Responsibility (CSR).

About Ras Al Khaimah Free Trade Zone Authority:

The Ras Al Khaimah Free Trade Zone ( RAK FTZ ) is one of the fastest-growing and most cost-effective free trade zones in the United Arab Emirates (UAE). With a reputation for affordability, flexibility and broad geographical reach, the RAK FTZ is rapidly emerging as the preferred business hub in the region. Investors can easily access its business-friendly services, and branch into emerging markets.

Since the establishment of the RAK FTZ in May 2000, the free zone has gone from strength to strength, garnering accolades and awards along the way. With only a handful of staff and a few offices in 2000, the free zone has grown by leaps and bounds and is now home to 7,000 active companies from 106 countries around the world. It employs more than 350 full-time staff, operates business and promotion centres in four locations in the UAE, and has an expanding international presence, with liaison offices in Germany, Turkey and India. To learn more about the RAK FTZ , please visit www.rakftz.com.

publié le 2 May 2010

RAKBANK Announces AED 228.07 Million Q1 Net Profit

Press release

[#RAKBANK has reported a net profit of AED 228.07 million for the quarter ended 31st March 2010, reflecting a 42.2% growth compared to first quarter of 2009 and 16.7% over the fourth quarter of 2009.#]

[#Commenting on the results, Mr. Graham Honeybill, General Manager said "Although economic recovery is subdued there remain good lending opportunities". The Bank has continued its focus on those products which are core to its business model namely SME, small business financing, mortgages, personal lending and cards, and the success of our marketing efforts are reflected in the first quarter’s results.

Funded Income grows by 48%

Net interest income at AED 372.8 million grew by 48% compared to 31st March 2009. The bank has continued to follow a measured approach to expansion, with a focus on maintaining a consistent and sustainable level of growth through a careful lending policy and actively seeks new lending in its chosen fields and has seen growth in the small business and personal finance segments.

Gross Loans and advances stood at AED 14.8 billion an increase of 6.5% over 31st December 2009 and an increase of 25% compared to 31st March 2009.

During the three months the bank has taken adequate provisions on its loan portfolio. Total impairment charge for the quarter at AED 81.3 million was higher by AED 54.3 million compared to the same period last year. We are, however, seeing an improvement in future trends.

Fee, commission and other income

Fee, commission and other income at AED 152 million was up by 34% compared to 31st March 2009. The Bank will continue its focus on providing a full range of products to its customers supported by excellent customer service.

The Bank continues to invest in product development, technology and other delivery channels and remains in the forefront of Emiritisation in the banking industry.

Assets & Liabilities

Total assets as at 31st March 2010 were AED 18.22 billion, an increase of 6.5% over 31stDecember 2009 and a 26% increase compared to 31st March 2009. The main growth in assets was seen in loans and advances.

During the quarter investments totalling AED 56.3 million matured or were disposed of leaving an outstanding portfolio of AED 352 million at the end of March. The bank intends holding all investments to maturity and does not anticipate any loss on any of its investments, all of which are in the name of domestic institutions.

The growth in the asset book has been supported by a combination of increases in customer deposits and shareholders’ equity. Customer deposits were up by AED 1.2 billion from 31st December 2009 from a combination of term and transaction deposits.

The Bank’s advances to deposits ratio comfortably stood at 91.6% as per the Central Bank of UAE guidelines. The bank has purchased USD 53.5 million of its own bonds from the market due to favourable liquidity conditions.

The Share capital of the bank increased to AED 1,154.44 million from AED 962.03 million after distribution of a 20% stock dividend. Total shareholder’s Equity stood at AED 2.94 billion at the end of March.

About RAKBANK

RAKBANK, is a leading retail bank in the UAE, serving 340,000 customers. Founded in 1976, the bank is one of the country’s oldest local financial institutions and today one of its fastest growing most dynamic banks and a major player in the personal banking sector in the UAE.

The bank offers a wide range of personal banking services through its 27 branches and telephone and online banking channels. It is a leading provider of credit cards and a prominent player in mortgage finance and small to medium enterprise finance.

Customer service excellence is a cornerstone of the bank’s success, with the bank having been voted in 2009 for four years running as #1 Bank in Customer Service in the UAE Annual Bank Benchmarking Study. For more information, visit www.rakbank.ae or contact the Call Centre at +9714 213 0000.
#]
Media Contacts:
Suzan Barhoush,
Dir Tel: 971 4 291 5064,
mobile: +971 50 389 8638,
email: suzan.barhoush@rakbank.ae
Lamis Daoud,
Dir Tel: 971 4 2915055,
mobile: +971 50 597 3247,
email: lamis.daoud@rakbank.ae

publié le 8 August 2010

Ramadan Nights at Cairo’s Latest Gem, the New Kempinski Nile Hotel

[# Celebrating its first Ramadan since its opening earlier this month, the Kempinski Nile Hotel is serving up a bouquet of dining options, designed to appeal to both group and private dining requirements.#]

With its location on the Nile offering panoramic city views, the hotel provides the ideal environment to enjoy authentic Arabian hospitality, said general manager, Fuat Koroglu: “Both hotel guests and local residents can share Iftar or Sohor at our restaurants, either at the atmospheric Osmanly restaurant, our convivial Blue brasserie, or within a dedicated private dining outlet – we offer a choice to suit all tastes,” he said.

Price for Iftar at the Blue and Osmanly restaurants is EGP195, inclusive of cold and hot mezzeh, soup, choice of meat or fish main course, tagine tray, desert buffet, cold and hot beverages. Guests can also request an exclusive private dining Iftar with waiter service. In addition, the Kempinski Nile Hotel is offering a la carte Sohor.

The new hotel, officially opened on July 7th has already garnered a reputation as a destination for the discerning, a top billing it aims to nurture and expand in the coming months.

With 191 rooms and a secluded location in Garden City, it is designated as a boutique property, marrying corporate efficiencies with personal service and charm as well as serving up a range of facilities to suit business and leisure guests, overseas visitors and Cairo residents.

In addition to a flexible check-in and check-out times, on-call butlers, up to date IT facilities, an extensive spa and 24-hour health club facility, the Kempinski Nile Hotel offers a host of dining options including the Osmanly, featuring the best of Turkish, Egyptian and Lebanese cuisine; Blue for all-day dining with the best of market produce; Floor Ten serving up contemporary French cuisine; the Shishawy Café and The Roof, a unique al fresco rendezvous.

For more information and reservations, please visit www.kempinski.com/en/cairo or contact your local travel agent.

Editor’s Notes:

The Kempinski name is proudly born by a growing collection of distinguished properties around the world. As Europe’s oldest luxury hotel group, Kempinski has built its reputation on the belief that exclusivity and individuality are key elements of true luxury. Each year, an increasing number of guests come to appreciate these qualities, as Kempinski adds new hotels and resorts in Europe, the Middle East, Africa and Asia. While this growth reflects the strength and success of the Kempinski brand, the collection will remain a limited one, where exclusivity can be nurtured and individuality can flourish.

Kempinski is a member of the Global Hotel Alliance. Global Hotel Alliance is the world’s largest alliance of independent hotel brands. It uses a common technology platform to drive incremental revenues and create cost savings for its members, while offering enhanced recognition and service to customers across all brands. GHA currently comprises of Anantara, First, Kempinski, Leela, Mirvac, Marco Polo, Omni, Pan Pacific, PARKROYAL, Shaza, The Doyle Collection and Tivoli, encompassing nearly 300 upscale and luxury hotels with over 65,000 rooms across 48 different countries.#]

publié le 7 July 2015

Ras Al Khaimah Free Trade Zone Opens 100 New Warehouses

Ras Al Khaimah Free Trade Zone (RAK FTZ) has opened 100 new warehouses in its Technology Park, for clients involved in trading as well as light and medium industrial manufacturing. The development highlights the free zone’s ongoing commitment to provide a full range of world-class facilities to meet investors’ needs.

RAK FTZ embarked on the AED 47 million project to answer the rising demand for facilities where activities such as shipping, storage and product redistribution can be managed.

"The opening of the 100 new warehouses shows our initiative to offer modern infrastructure that is not only of the highest quality, but is also tailored to the specific requirements of individual business owners," said Ramy Jallad, Acting CEO, RAK FTZ. "We are continuously striving to provide a wide range of ready-made, cost-effective facilities that are designed to help companies reach their full potential."

Supervised and managed by RAK FTZ engineers, the newly constructed warehouses were made from advanced, high-performance materials. They have reinforced concrete flooring designed mainly to accommodate the heavier machinery that is often used in industrial manufacturing. They also have more electrical power capacity than their predecessors.
"We equipped the warehouses with valuable features to accommodate a broad range of industrial facility requirements," said Eyad Ismail, RAK FTZ’s Engineering Manager. "Apart from having higher ceilings and bigger doors to enable loading and unloading of big trucks, the new warehouses come with removable precast hollow core walls. This means that when companies grow, they have the option to expand their floor space to as much as 8,600 square metres."

Additionally, the new warehouses each have their own water supply tank and fire-safety mechanisms such as sprinklers, suppression systems and fire detectors. Each warehouse also comes with its own kitchen, bathroom and office. Further, the warehouse project includes new infrastructure such as roads, water and electrical connections, a central firefighting network, drainage, and other features.
With flexible warehousing opportunities at RAK FTZ, companies that conduct trading and manufacturing operations at the free zone can effectively meet the needs of their customers.

About Ras Al Khaimah Free Trade Zone:

Ras Al Khaimah Free Trade Zone (RAK FTZ) provides award-winning services and world-class facilities, enabling clients to quickly and efficiently set up and grow profitable companies in the United Arab Emirates. Home to more than 8,000 active companies from over 100 countries and over 50 industry sectors, RAK FTZ offers completely tax-free status to its clients, allows for 100 per cent foreign ownership and unrestricted repatriation of profits, in addition to a host of other business-friendly incentives.

Less than an hour’s drive from Dubai, RAK FTZ offers significant geographical advantages for clients to easily access markets in the Middle East, Africa, Europe and South Asia. It caters to the unique requirements of small, medium and large businesses with four free zone parks including business centre facilities, offices, warehouses and land for development, as well as facilities for educational institutions. Since its inception 15 years ago, RAK FTZ has diversified from its traditional focus on industrial manufacturing to also support trading, sales and marketing activities, a wide range of service sectors, as well as logistics and distribution platforms.

To learn more about RAK FTZ, please visit www.rakftz.com

publié le 8 August 2010

Research and Markets: Between 2010 And 2015, Morocco’s Telecom Market Will Grow at a CAGR Of 3.1%, from $4.9bn to $5.7bn

[# The next five years will be marked by an increase in competition in Morocco’s fixed and mobile markets, while adoption of 3G+ handsets is already witnessing solid growth, according to a new report.
#]

[#
“After only four months of launching its GSM-based service, Wana reached 1 million mobile subscribers; the per-second service and the option for customers to use their SIM card for prepaid BlackBerry services, unlimited mobile Internet and MSN messaging are the major reasons behind this growth”

Morocco: New Mobile Competitors Boost Market Share offers a precise profile of the country’s telecommunications, media, and technology sectors based on proprietary data from our research in the market. It provides detailed competitive analysis of both the fixed and mobile sectors, tracks the market shares of technologies and services, and monitors the introduction and spread of new technologies.

The entry of Wana to the mobile market in 2008 and its competitive offers are proving disruptive to market dynamics. "After only four months of launching its GSM-based service, Wana reached 1 million mobile subscribers; the per-second service and the option for customers to use their SIM card for prepaid BlackBerry services, unlimited mobile Internet and MSN messaging are the major reasons behind this growth," says Mehdi Ben Said, Senior Analyst at Pyramid Research. Wana’s market entry as a fixed wireless and limited mobility CDMA operator has also brought major changes to the fixed market.

"The new environment is expected to significantly affect Maroc Telecom’s share of revenue, which is expected to decrease by 13 percent over the next five years, reaching 59.6 percent by 2015," Mehdi says. "Also, new commercial initiatives and promotions introduced in early 2009 by Mditel are making a positive impact on the company’s market share, leaving Maroc Telecom to bear the cost of declining overall growth."

Adoption of 3G+ handsets - a category that includes 3G, 3.5G, and 4G handsets - is already witnessing solid growth in the Moroccan market, making up about 24.1 percent of the handset market by year-end 2010. "Morocco’s booming 3G market and improving purchasing power is a great opportunity," Mehdi adds. "However, Wana’s recent acquisition of a GSM license still offers a stable market share for 2.5G handsets."
#]

Source: Pyramid Research, Inc.

publié le 29 November 2015

Rotana progresses 2020 vision with 14 openings in the year ahead

press release

Rotana Hotel Management Corporation PJSC., one of the leading hospitality management groups in the Middle East, Africa, South Asia and Eastern Europe, is set to continue its ambitious expansion with the opening of 14 properties before the end of 2016.

With flourishing development being made in its growth strategy, Rotana is further strengthening its presence in Turkey and Bahrain, whilst 2016 will also see the opening of the group’s first property in the capital of the Democratic Republic of Congo, marking Rotana’s increasing footprint in Africa. The hotels add 3,769 rooms to Rotana’s existing 13,875–strong room count across its global property portfolio.

Omer Kaddouri, President & CEO of Rotana, comments: “Rotana has a very robust development pipeline for 2016. By extending the Rotana brand into new cities while also reinforcing our market leadership in the Middle East, we have come closer to realising our ambitious vision of operating 100 hotels by 2020. With a carefully considered international development strategy in place, we are constantly looking for growth opportunities and all of these markets presented opportunities for Rotana to extend our award-winning hospitality offering.”

In particular, a breakthrough into Kinshasa in the Democratic Republic of Congo, is a significant landmark for Rotana as this is a new territory for us in which we will be addressing the needs of a rapidly developing market. We are confident that the hotel will offer world-class standards in hospitality and we look forward to expanding our offering for travellers across Africa."

The next 14 impressive properties to be managed by Rotana are as follows:

Dalga Residences by Rotana, Istanbul, Turkey – Opening December 2015
Dalga Residences by Rotana is the first property to open under the group’s “Residences” brand in Turkey. Ideal for guests looking for long stays and permanent residency, this property has been designed to reflect home life. Dalga Residences by Rotana boasts 138 rooms and suites, ranging from studios to three bedroom apartments, each with their own kitchen and access to 24-hour maintenance, 24-hour security team and complimentary housekeeping.


City Centre Rotana, Doha, Qatar – Opening Q1, 2016
Rotana’s second property in Qatar’s capital, the five-star City Centre Rotana Doha will welcome guests to a an elegant 400-room property complete with contemporary rooms and suites, as well as state-of-the-art meetings and banqueting facilities, Bodylines Fitness & Wellness Club and an exciting collection of restaurants. Nestled in the heart of the newly developed West Bay, guests are in close proximity for shopping and exploring local sites.

Downtown Rotana, Manama, Bahrain – Opening Q1 2016
Alongside Majestic Arjaan by Rotana and the recently opened ART Rotana, Downtown Rotana will be the third property managed by Rotana in Manama, Bahrain. The impressive five-star hotel will offer 248 rooms, as well as a number of high-level furnished apartments, suites and entertainment facilities. Guests will have a choice of four dining outlets, each with their own signature cuisine.


Rosh Rayhaan by Rotana, Riyadh, Saudi Arabia – Opening Q1 2016
Located on the popular Al Olaya Street, in the heart of Riyadh, Rosh Rayhaan by Rotana is just a short drive from Riyadh Airport and in close proximity to the shopping districts of the city. Complete with 236 modern rooms and suites, business centre, fitness facilities and a choice of four dining outlets including a specialty restaurant, Rosh Rayhaan by Rotana is set to become a sought-after property for business travellers.

Centro Shaheen, Jeddah, Saudi Arabia – Opening Q1 2016
Set in the heart of Jeddah, Centro Shaheen is located just minutes from high-end malls, national embassies and business districts – making it an ideal base for business and leisure travellers visiting Jeddah. The hotel features 252 rooms and studios in addition to Bodylines Fitness & Wellness Club, outdoor swimming pool, treatment rooms, sauna and steam rooms.

Kinshasa Arjaan by Rotana, The Democratic Republic of the Congo – Opening Q3 2016
Expanding into new territory, Kinshasa Arjaan will be the first of Rotana’s properties to open in The Democratic Republic of the Congo: one of Africa’s largest urban areas. Developed with corporate guests and families in mind, the hotel will boast 101 fully-furnished hotel apartments, four outstanding dining venues, Bodylines Fitness & Wellness Club in addition to five fully-equipped meeting rooms.

Centro Capital, Doha, Qatar– Opening Q1 2016
Keeping in line with its namesake, Centro Capital Doha is located in the heart of Doha’s business district. The first of the four-star Centro brand - managed by Rotana - to launch in Doha, the hotel will be complete with 229 rooms, four dining outlets and two meeting rooms. A contemporary and well-appointed property, Centro Capital Doha will offer affordable accommodation and hospitality which the Centro brand is best known for.

Amman Rotana, Jordan - Opening Q1 2016
The second Jordanian property from Rotana has been designed with up-to-date technology and first-class facilities that will provide its guests with unrivalled comfort and five-star Arabian hospitality. As part of the newly built complex in Al Abdali, a short 20 minute drive from the International Airport, this hotel will feature 412 contemporary rooms and suites, six dining outlets, private swimming pool and fitness facilities as well as fully-equipped meeting rooms.

Vazo Residences by Rotana, Istanbul, Turkey – Opening Q2 2016
Vazo Residences by Rotana, located on the Asian side of Istanbul, will feature 134 spacious apartments divided across three towers, ranging from studios to four-bedroom apartments which are ample in space and offer exceptional facilities.

Centro Waha, Riyadh, Saudi Arabia – Opening Q2 2016
With its central location on Al Olaya Street, a stone’s throw from the city’s business district, Centro Waha will feature 290 spacious rooms and studios. Business travellers will also benefit from the hotel’s state-of-the-art meetings and conference facilities, five dining outlets, 24-hour in-room dining service and Bodylines Fitness & Wellness Club.

Capital Centre Rotana, Abu Dhabi, UAE - Opening Q3 2016
Capital Centre Rotana, which is set to open in Q2 2016, aims to serve both business and leisure travellers. With 315 luxurious rooms, four dining outlets, swimming pool, Bodylines Fitness & Wellness Club, sauna, steam rooms and massage room, guests will benefit from a range of exceptional facilities.

Erbil Arjaan by Rotana, Iraq – Opening Q4 2016
Characterised by modern architecture and state-of-the-art facilities, Erbil Arjaan by Rotana will cater to both long-term guests and business travellers. The property will feature 154 fully-furnished hotel apartments, two outstanding restaurants and five-fully equipped meeting rooms. Moments away from the airport and in close proximity to the local shopping malls, Erbil Arjaan by Rotana is ideally located.


Sulaymaniyah Rotana, Iraq – Opening Q4 2016
Sulaymaniyah Rotana is conveniently located in the bustling centre of Sulaymaniyah city. Complete with 240 modern rooms and suites, business centre, fitness facilities, five meeting rooms and a choice of four dining outlets including a speciality restaurant, Sulaymaniyah Rotana will provide premium hospitality and impeccable service.

Centro Olaya, Riyadh, Saudi Arabia – Opening Q3 2016
Located in the heart of Riyadh, within close proximity to major shopping malls and business districts, Centro Olaya is a prominent address for long-term business travellers and families alike. Designed with comfort and style in mind, the four-star hotel will offer 156 rooms and studios in addition to a variety of world-class leisure facilities.

publié le 16 February 2010

Saudi businessman acquires 10% stake in Six Senses

[#Miami-based Saudi entrepreneur Laith Pharaon has acquired a 10% stake in Six Senses Mauritius, the management arm of Six Senses Resorts & Spas.Pharaon serves as principal for his group, which has previously served as a shareholder of Hyatt and owned several Four Seasons Hotels properties.
#]

[#
Six Senses chairman and CEO Sonu Shivdasani said: “I am personally excited to have an investor and partner such as Laith Pharaon and his father Dr. Ghaith Pharaon. They have an impeccable background in the high-end hospitality business having been significant shareholders of Hyatt and owners of several Four Season Hotels properties, and other luxury-branded properties in the past.

“Their track record of great successes will contribute significantly to the future development of Six Senses, adding strength and vibrancy to the group”.

There is the option for an additional 15% stake to be acquired by Pharaon, based on the achievement of certain milestones.

He said: “I am very excited to be part of Six Senses. By bringing hotel development experience to the management side of Six Senses, I believe this is a win-win situation for both of us”.

Founded by Shivdasani in 1995, Six Senses operates 13 high-end resorts in the Maldives, Thailand, Vietnam, Oman and Jordan and 27 spas under the Six Senses Spa division.
#]

publié le 7 January 2010

Saudi economy to grow by 4.5% in 2010, says Goldman Sachs

[#The Saudi economy will expand 4.5% this year as increased public expenditure paves the way for sustained economic recovery, The National reported, citing a Goldman Sachs forecast.#]

[#Strong balance sheets in the banking and household sectors should also help to ensure that the kingdom outperforms most other GCC members, Goldman said in a research note.

“Saudi authorities currently have considerable fiscal resources at hand, which would enable them to support the economy and ensure that recovery is sustained through 2010,” said Ahmet Akarli, an economist at Goldman Sachs

The US bank expects a budget surplus for the current year of about SAR230 billion, with revenue at SAR860 billion and outlays at SAR630 billion.

Public expenditure could approach 35% of GDP this year, a smaller share than last year, but higher than the shares for the two years prior to that, Goldman said.

“Clearly, Saudi Arabia, alongside the GCC’s other hydrocarbon-heavy economy Qatar, is ideally positioned to benefit from the ongoing cyclical recovery in the global economy and outperform its peers in the Gulf region,” said Akarli.

The IMF has forecast growth of 4% in Saudi Arabia for this year.#]

publié le 17 January 2010

Saudi Fransi: Private sector to grow 3.7% in 2010

Banque Saudi Fransi has said the private sector in the kingdom is expected to recover to 3.7% in 2010, but will remain below the 4.7% of 2008, prior to the global financial crisis, Reuters has reported. The growth will be driven mainly by state spending and bank lending, the lender said. The private sector accounts for about 46% of the kingdom’s Gross Domestic Product (GDP). Private sector growth hit a 14-year low of 2.5% in 2009

publié le 7 November 2010

Saudi tourism authority to launch new magazine

The Saudi Commission for Tourism and Antiquities is set to launch ’FindMe in Saudi’ by early next year, the kingdom’s first official international magazine on business, investment and leisure, Arab News has reported. The magazine, to be published annually, is to include 150 pages of information and promotion on Saudi Arabia. ’FindMe in Saudi’ will be published in English and Arabic and will be distributed both locally and internationally.

publié le 12 August 2012

SEIB Insurance and Reinsurance Company LLC holds suhour for clients

[#SEIB Insurance and Reinsurance Company LLC (SEIB), in the tradition and customs of the Holy Month of Ramadan, hosted a suhour in honor of clients, partners, and other stakeholders. The event was held in the newly-opened St. Regis in West Bay on August 7th.#]

[#“We held this suhour in the giving spirit of Ramadan to simply say ‘thank you’ to all those that contributed to our successes,” said Farid Chedid, SEIB’s Chief Executive Officer. “Our clients and stakeholders have been a pillar of our remarkable achievements in the few short years that we have been in operation in Qatar; in addition, holding the event is also a tribute to the true spirit of Ramadan, the month of giving and thanks.”

Authorized by the Qatar Financial Center Regulatory Authority, SEIB provides tailor-made corporate and retail insurance solutions, and is especially known for handling complex risk cases. For more information, please visit www.seibinsurance.com.

About SEIB Insurance

SEIB Insurance and Reinsurance Company LLC (SEIB) is a national Qatari company, authorized by the Qatar Financial Center Regulatory Authority under QFC license No. 00114 dated October 21st 2009, and boasting a paid up capital of QAR 109,200,000.
SEIB provides turnkey corporate and retail insurance solutions. SEIB’s highly professional and specialized staff will propose tailor-made solutions to meet the expectations of each client.#]

publié le 8 May 2013

SEIB Insurance and Reinsurance Company LLC sponsors Project Qatar 2013

SEIB Insurance and Reinsurance Company LLC (SEIB) announced its participation in Project Qatar 2013 from May 6 - 9, at the Doha Exhibition Center.
Organized by IFP, the 10th International Trade Construction, Building, Environmental Technology & Materials Exhibition will attract key buyers and industry leaders looking for the most up-to-date technology and state-of-the art equipment available on the market.
“With all eyes on Qatar’s booming construction sector, Project Qatar has become an essential access point for industry heavy weights, foreign governments, trade associations and key decision makers to forge deals in Qatar,” said Mr. Farid Chedid, SEIB’s Chief Executive Officer.
Project Qatar is now established as Qatar’s most important exhibition for highlighting the latest products and services needed for Qatar’s fast growing construction sector and has become a destination of choice for regional and international industry professionals.
The 4-day show will provide a unique and dynamic platform for buyers and suppliers to make contacts and drive future developments in Qatar’s multi- billion construction sector. Exhibitors benefit from massive exposure to premier regional agents, dealers, buyers and distributors

“Project Qatar 2013 is a perfect platform for SEIB to share its extensive experience in the insurance of large-scale projects,” explained Farid Chedid. “Qatar’s development rate is phenomenal, and this growth is expected to continue for the foreseeable future. As the country gears up to host the FIFA World Cup in 2022, spending on essential projects, including the construction of stadiums, building a metro and national rail network, improving roads and more than doubling the number of hotel rooms in the country are all set to take shape. The projects are thus going to get bigger in magnitude, and will call for more creative solutions to cover their insurance needs. This is where SEIB can step in, and we are more than happy to share our knowledge with exhibitors.”
This year’s Project Qatar will unveil an advanced matchmaking platform for businesses to meet potential partners and suppliers. Additionally, Project Qatar 2013 will introduce two new events - Facility Management Qatar and Man and Architecture, which will feature some of the most prominent architects in the world and host high level discussions on local architectural projects, challenges, and best practices.
Authorized by the Qatar Financial Center Regulatory Authority, SEIB Insurance provides tailor-made corporate and retail insurance solutions, and is especially known for handling complex risk cases. For more information, please visit www.seibinsurance.com.
dated October 21st 2009, and boasting a paid up capital of QAR 109,200,000.
SEIB provides turnkey corporate and retail insurance solutions. SEIB’s highly professional and specialized staff will propose tailor-made solutions to meet the expectations of each client.

publié le 29 April 2012

SEIB to Participate in Project Qatar 2012

press release

[# SEIB Insurance and Reinsurance Company LLC (SEIB) announced its participation in the ninth edition of Project Qatar, the country’s much-anticipated engineering and construction solutions event.
“Project Qatar 2012 is the ideal platform for us to directly communicate with stakeholders and potential customers,” explained Mr. Farid Chedid, SEIB’s Chief Executive Officer of SEIB. “In the past year, we have introduced products and services relevant to the construction and engineering sector, and we are excited to share our offerings face-to-face to the attendees. These include engineering insurance, professional indemnity insurance, inherent defects and liability insurance, workman compensation, as well as other products.”
Authorized by the Qatar Financial Center Regulatory Authority, SEIB provides tailor-made corporate and retail insurance solutions, and is especially known for handling complex risk cases. For more information, please visit www.seibinsurance.com.

About SEIB Insurance

SEIB Insurance and Reinsurance Company LLC (SEIB) is a national Qatari company, authorized by the Qatar Financial Center Regulatory Authority under QFC license No. 00114 dated October 21st 2009, and boasting a paid up capital of QAR 109,200,000.
SEIB provides turnkey corporate and retail insurance solutions. SEIB’s highly professional and specialized staff will propose tailor-made solutions to meet the expectations of each client.
#]

publié le 29 December 2014

Shangri-La Hotel, Qaryat Al Beri, Abu Dhabi’s Saturday Global Brunch Offers Extra Perks

press release

Guests dining at Shangri-La Hotel, Qaryat Al Beri, Abu Dhabi’s Sofra bld for the Saturday Global Brunch can now enjoy a plunge into the hotel’s private beach and the infinity pool.

“Brunch and Plunge” grants Saturday Global Brunch diners complimentary access to the hotel’s beach and pool facilities – an additional value-for-money experience offering recreational experience before or after enjoying the brunch. Alternatively, guests arriving earlier than the early bird dinner at 5:30pm on a Saturday can also enjoy this complimentary recreational offer.

Saturday Global Brunch with free-flowing house beverages is priced at AED195++ per person or at AED159++ per person for food only. Children aged six to 12 enjoy half price and children below six are free of charge. Saturday Global Brunch is served from 12:30 to 4 p.m. For more information or to make a reservation, please call (971 2) 509 8555 or visit www.shangri-la.com.

Hong Kong-based Shangri-La Hotels and Resorts currently owns and/or manages more than 85 hotels under the Shangri-La brand with a room inventory of over 36,000. Shangri-La hotels are five-star deluxe properties featuring extensive luxury facilities and services. Shangri-La hotels are located in Australia, Canada, mainland China, Fiji, France, Hong Kong, India, Indonesia, Japan, Malaysia, Maldives, Mauritius, Myanmar, Philippines, Singapore, Sultanate of Oman, Taiwan, Thailand, Turkey, the United Arab Emirates and the United Kingdom. The group has a substantial development pipeline with upcoming projects in mainland China, Cambodia, India, Mongolia, Myanmar, Philippines, Qatar and Sri Lanka. For more information and reservations, please contact a travel professional or access the website at www.shangri-la.com.

publié le 4 March 2012

Sharjah: Cool Beach & Pool Package at Coral Beach Resort

[#Coral Beach Resort – Sharjah boasts one of the most idyllic private beachesin the city and has got a terrific promotion for sun, sea and sand seekers this season.Whether you are out to play with waves or for a sun bath, water sports, beach massage,or simply a stroll, it is the perfect beach.#]

[#[#Jean Pierre Simon, Regional General Manager, Northern Emirates, Coral Hotels & Resorts, said, “The weather is absolutely wonderful and it is great to be outdoors. We have got a beautiful stretch of exclusive beach overlooking the Arabian Gulf that is extremely popular with both local families and overseas guests. Recently, we have also introduced a non-smoking zone on our beach that has made it safer for kids as well as others who do not smoke. Our Beach & Pool package offers superb value for money.

TheBeach & Pool package costs AED 199 per person and includes entrance fee for the beach, access to two temperature controlled swimming pools, access to kids club with its own baby pool, buffet lunch, tea / coffee, 30 minutes relaxing beach massage and use of towels& locker. Kidspolicy applies for restaurant and beach.

The promotion is valid until May 31, 2012 including weekends and public holidays. In order to take advantage of this offer guests must mention the Promo Code – CBRGN.

Additional Information

  • Regular Day Pass for beach and pool access is as follows:


Adult – AED 75/- week days and AED 150/- weekends and public holidays.
Child – AED 50/- week days and AED 75/- weekends and public holidays.

  • Fitness Pass – including access to newly opened fitness centre ‘Attitudes’


Adult –AED 100/- week days and AED 175/- weekends and public holidays. Rate includes access to beach, pool and Fitness Centre with towels and lockers included.

  • The Beach & Pool package will cost AED 260 if you want to have lunch at Casa Samak.

For more information about the hotel visit
www.coral-beachresortsharjah.com#]#]

publié le 27 July 2011

Sheikh Saud visits RAK FTZ Technology Park

[# His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, paid an official visit to the RAK Free Trade Zone Technology Park today.#]

[#H.H Sheikh Saud was welcomed by RAK FTZ senior executives including Oussama El Omari, RAK FTZ CEO, and Maryam Al Murshedi, Deputy Director General; along with other RAK FTZ representatives.

Ahead of a site tour of the technology park, El Omari conducted a briefing for Sheikh Saud to introduce some of RAK Free Zone’s Technology Park companies. As part of its ongoing long-term commitment to develop a permanent infrastructure for the Technology Park, RAK FTZ is ramping up its already extensive business support offering to provide the optimum conditions a wide range of activities and investment opportunities required to achieve future success.

The large number of operating companies already registered with RAK FTZ, and located in the Technology Park, encompass diverse sectors from automobile manufacturing and the plastics industry, to electricity cabling, building materials and perfume companies, to name but a few.

“The Technology Park is breaking new ground not only with the construction of new facilities, but through a range of value-added services that are driving both interest as well as opportunity for expansion. The presence of a number of special car manufacturing companies is just one example of the growth areas that have developed substantially over the last few years. These companies are specialized in providing custom-made and they are one of the best vehicles in the world.” remarked El Omari.

Upon conclusion of his visit, His Highness expressed great satisfaction with the progress and performance of RAK FTZ companies and with all the facilities provided by RAK FTZ.#]

publié le 30 May 2012

Shurooq to host first Sharjah-French Round-Table

press release

[#Sharjah Investment and Development Authority, (Shurooq) in collaboration with the French Business Council of Dubai and Northern Emirates (FBC) will be hosting the first Sharjah-French Round-Table this Wednesday 30th May, to highlight and explore the economic, investment, tourism and cultural opportunities that exist between Sharjah and France.#]

[#Taking place at the Sharjah Chamber of Commerce and Industry,the Round-Table will be gathering representatives from more than twenty major French companies as well as a further twenty representatives from the Sharjah government and various leading Sharjah based businesses, with the aim of bringing The Authority and business community closer to the French Business community and creating synergies and opportunities of mutual benefit for both communities.

During this first installment of the Round-Table, Sharjah stakeholders and prominent members of the French Business Community will be discussing a number of topics in line with the Emirates development strategy including logistics, alternative energy sources and environmental issues, travel and tourism, as well as the healthcare sector.

H.E. Marwan bin Jassim Al Sarkal, CEO of Sharajah Investement and Development Authority (Shurooq), remarked, “We are very pleased to be able to implement yet another initiative in line with our vision of enhancing Sharjah’s position as a leading tourism and investment destination. This Round-Table provides an invaluable chance for us to link prospective investors with worthy investment opportunities in Sharjah.”

FBC has been actively working on strengthening its relationships with the various northern Emirates and the Sharjah-French Round-Table follows the Fujairah-French Conference, which was held in September 2011. The Sharjah-French Round-Table will focus on creating even closer ties between Sharjah and the FBC, especially within the framework of the emirate’s progressive economic plan and vision. It is the aim of both parties to work closely on common synergies to develop specific sectors as economic pools and to benefit from mutual expertise.

Claude Valle, President of French Business Council commented, “The discussion creates a highly relevant and effective environment in which to exchange ideas and open up avenues of discussion between industry stakeholders and experts. It is also an excellent vehicle through which to encourage a mutually beneficial interchange of information to foster the development of best practices in and amongst the applicable industries.”

Established in 2009, Shurooq aims to achieve social, cultural, environmental and economic development on the basis of Sharjah’s distinct Arab and Islamic identity, and to encourage investment by adopting the best international standards in providing quality services that help attract investors from the region and the world.

The Authority’s main mission is to provide the necessary facilities and incentives, to overcome obstacles facing investment activities in the Emirate, to evaluate development-related infrastructure projects, and to lay down the necessary plans and groundwork to complete such projects.#]

publié le 9 February 2016

Submit Yourself to Love … This Valentine’s Day at Holiday Inn Dubai – Al Barsha

Love is in the air, let every moment count. Join us for a toast to love in the magical aura of intimacy and affection.

The celebrations of love approach as February the Fourteenth draws near. Get ready to board the love-express and express your love to your special one. This Valentine’s Day, treat your beloved with a fine evening of appetizing, delightful dinner and enthralling entertainment at our exquisite and lavish venues.

Experience the warmth of love on Valentine’s eve at Holiday Inn Dubai - Al Barsha, where the perfect blend of delectable food and heart-warming entertainment awaits you and your soul mate. The ideal combination of delicious food, bursting with
intense flavours and alluring aromas, and aesthetically pleasing environment promises to deliver you the most memorable Valentine’s evening.

Indulge into the delicacies of authentic Thai cuisine or savour the culinary delights of India in the splendidly decorated restaurants with sumptuous surroundings. Rejoice the feeling of being with your loved one in the affectionate ambience of soothing music and comely atmosphere.

The night’s entertainment guarantees to celebrate your beautiful union; Feel the love vibes through the enchanting and spectacular traditional Thai dance, or dive into the romantic tunes of Bollywood, with a chance to dedicate a song or Ghazal to your valentine and articulate your love through the captivating performance of the band.

VALENTINE’S DAY
Sunday 14th February
THE ROYAL BUDHA
Price: AED 345/- per couple
4 Course set menu
Traditional Thai Dance
Timing: 8pm – 10.30pm

GHARANA
AED 295/- per couple
4 Course set menu
Resident band to play to your favorite songs and Ghazals
Timings: 7.30pm – 1.30am

About Holiday Inn Dubai – Al Barsha

Set in the heart of New Dubai, Holiday Inn Dubai – Al Barsha is a perfect blend of contemporary design and classic elegance. The hotel has 309
rooms including 54 suites. Each room is equipped with the latest facilities, tastefully decorated to meet every guest’s needs and comfort. Business
houses have access to a wide variety of conference venues equipped with state-of-the-art technology. Completing the Holiday Inn experience
are the award winning restaurants “The Royal Budha” (Thai), “Gharana” (Indian) and “Xennya Terrace” (Rooftop Terrace) as well as bars, banquet
facilities and impeccable service.
A Full floor of 53 rooms from its portfolio of 309 elegant and contemporary rooms have been refurbished and upgraded to stylish and chic Club
rooms. Bundled with exclusive benefits such as full day Club lounge access with culinary delica¬cies and beverages, happy hours, personalized
treatment, and many more, the proposition of upgrading your stay a well as express check-in and check-out service at a dedicated desk is a very
attractive proposition.
For more information please visit: www.holidayinn.com or www.hialbarshadubai.com
Find us on Twitter https://twitter.com/HolidayInnDubai or Facebook https://www.facebook.com/hidubai
From creative Thai cuisine at The Royal Budha, to traditional Indian experience coupled with enchanting live entertainment at Gharana, to an array
of generous buffets at The Gem Garden, the hotel offers a variety of f&b options.

The Gem Garden | All Day Dining
All-day dining with a difference. The Gem Garden’s minimalist Zen styling is the ideal place any time of day or night. The food, on the other hand, is
anything but minimalist, with a combination of generous buffets and classic a la carte dishes.

The Royal Budha | Fine Dining -Thai - What’s On Award Winner
Award winning creative cuisine delivered in a stylish setting under the watchful eye of a towering Buddha makes this a royal treat. Situated on the
ground floor, this contemporary Thai restaurant is the perfect blend of tradition and innovation.

Gharana | Casual Dining - Indian
An experience of the Indian subcontinent through the kaleidoscope of elements of familiar monuments and the culinary tastes of that region leads this
restaurant to be labeled exotic with live entertainment.

The Q | Sports Bar
Suspended UV lit snooker cues add a dramatic feature in the ceiling to a fresh and modern monochromatic back drop. White floors and walls, super
comfy large black sofas and upholstered bar stools make this an ideal spot to watch your latest sporting events on massive cinema screens around the
circular bar.

Lounge@Barsha | Coffee Shop
Meet and Greet Lounge: PASTRIES & SPECIALITY TEAS
This elegant lobby lounge is ideal for business and social get-togethers. A selection of pastries, sandwiches and hot or cold refreshments are served
throughout the day.(Free wi-fi)

The Q Underground | Retro Venue
A chic underground spot where the most exotic elixirs are in free flow. A swell party venue to boot, football, cricket and Mardi Gras, get shaken but
not stirred. A favorite haunt for comedy, quiz, karaoke and salsa to make a buzzing carnival.

Xennya Terrace | Hubbly Bubbly Bar
Xennya on a higher level. This rooftop terrace overlooks Dubai’s mesmerizing skyline.
Make friends over amazing settings, fine wine and our generously stocked bar.

Dolphin Bar | Roof Top Bar
The perfect venue to soak up the atmosphere of Dubai. Enjoy a refreshing daytime swim followed by an even more refreshing cocktail, or sip at
sundown with a relaxing drink over the panoramic view of the Burj Al Arab.

About Holiday Inn®: Started over 60 years ago and with close to 1,200 hotels worldwide today, the Holiday Inn® brand is the most widely
recognized lodging brand in the world. During that time, it was the first hotel brand to launch a computerized reservation system in 1965, one of
the first international hotel brands to establish a presence in China in 1984 and the first to take an online booking in 1995. The ‘Kids Eat & Stay Free’
programme is available at every Holiday Inn® property, and KidSuites® rooms at every Holiday Inn Resort® hotel, demonstrates the long-standing
commitment of the Holiday Inn® brand to serving family travellers, along with a comfortable atmosphere where everyone can sit back and relax.
For four consecutive years, the Holiday Inn® brand has been ranked “Highest in Guest Satisfaction Among Mid-scale Full Service Hotel Chains”,
according to the J.D. Power and Associates North America Hotel Guest Satisfaction Index Study.
For more information about Holiday Inn® and Holiday Inn Resort® or to make a reservation, visit www.holidayinn.com. Find us on Twitter http://www.
twitter.com/holidayinn or Facebookwww.facebook.com/holidayinnhotels.

About IHG® (InterContinental Hotels Group): IHG® (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a
broad portfolio of hotel brands, including InterContinental® Hotels & Resorts, Kimpton® Hotels & Restaurants, HUALUXE® Hotels and Resorts, Crowne
Plaza® Hotels & Resorts, Hotel Indigo®, EVEN™ Hotels, Holiday Inn® Hotels & Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites®.
IHG franchises, leases, manages or owns more than 4,900 hotels and 727,000 guest rooms in nearly 100 countries, with more than 1,300 hotels
in its development pipeline. IHG also manages IHG® Rewards Club, the world’s first and largest hotel loyalty programme with more than 90 million
members worldwide.
InterContinental Hotels Group PLC is the Group’s holding company and is incorporated in Great Britain and registered in England and Wales. More
than 350,000 people work across IHG’s hotels and corporate offices globally.
Visit www.ihg.com for hotel information and reservations and www.ihgrewardsclub.com for more on IHG Rewards Club. For our latest news, visit: www.
ihg.com/media and follow us on social media at:www.twitter.com/ihg, www.facebook.com/ihg and www.youtube.com/ihgplc.

publié le 28 July 2010

Sweet Smell of Pampering at the Jasmine Spa

Grand Millennium Dubai treats corporate clients to a day out of the office, with spa therapies, gym work-outs and a healthy lunch on the menu

[#For once the suites and restaurants were not the highlight of a hotel tour, as the Grand Millennium management hosted more than 30 of its key corporate accounts on a day out at its Jasmine Spa, where staff were introduced to its extensive treatment menu, as well as other facilities including the state-of-the-art gym and healthy dining options at the rooftop pool deck.#]

[#
According to spa manager Afrah Hamdy, the reaction of the visitors was extremely positive with many of them unaware of the variety of well-being therapies available at the Jasmine Spa: “The feedback from the group was terrific,” she said.

“Obviously, our corporate clients know about the facilities of the Grand Millennium Dubai for business, from meeting rooms to dining, but not necessarily about our excellent range of leisure and recreation facilities, and this was a useful exercise to introduce the Jasmine Spa by allowing the ladies to try out the treatments for themselves.”

Located on the 18th floor of the hotel, the Jasmine Spa features Jacuzzi and sauna, a beauty salon and nine treatment rooms including an authentic Moroccan hammam.

Therapies available include lymphatic drainage, Ayurvedic, Thai, Balinese, hot stone, sports and reflexology massage as well as micro-dermabrasion, seaweed, coffee and other aromatherapy wraps and facials. Tailored programmes for cellulite reduction, stress management, slimming and firming, plus waxing, after-sun, men’s treatments and one-, three- and six-day packages are also on offer at the spa.#]

publié le 19 October 2015

TECOM GROUP’S DUBIOTECH AND ENPARK JOIN TO FORM DUBAI SCIENCE PARK

As part of TECOM Group’s commitment to driving innovation in Science, the company has announced that “Dubai Biotechnology & Research Park” (DuBiotech) and the “Energy and Environment Park (EnPark)” will operate under a joint umbrella to be known as “Dubai Science Park” (DSP). This development is a reflection of TECOM Group’s overall strategy to operate and develop innovative communities, aimed at enabling business success.

The newly formed Life Science, New Energy and Environment business community, Dubai Science Park (DSP) is the realisation of a continued commitment to respond to the evolving needs of the industry, allowing for increased collaboration and innovation.
Dubai Science Park will continue to support both SMEs and global firms looking for a regional base for their Middle East operations, by facilitating a bespoke yet vibrant community. It will create a holistic environment for organisations across the life sciences and energy industries, by continuing to offer flexible, bespoke products and services for every facet of the science sector.

The new identity, Dubai Science Park, is a step towards the ambition to deliver Dubai’s innovation strategy and diversify the economy through the development of the life science, energy and environment sectors.

DuBiotech was established in 2005 to support the Government of Dubai’s vision to transform the Emirate into a knowledge-based economy and develop the region’s life science sector, and its talent pool. Since its launch, DuBiotech has grown into a thriving community of over 230 business partners including global industry players Pfizer, Amgen, Bristol-Myers Squibb, Maquet, Firmenich and IFF. Its sister park, EnPark, which was founded in 2007, has been widely recognised for its work in the field of sustainability and the development of environmental products and initiatives winning a number of high profile awards such as the “UAE Green Brand” in 2012. As a founding member of the Dubai Green Energy Partnership, EnPark has remained at the forefront of development in green energy, conservation and R&D.

The new brand has brought two promising markets together, life sciences and new energy & environment. Over the past 50 years, science innovation has contributed to the world through breakthroughs such as vaccines, telemedicine, and robotic surgery. For emerging markets looking to capture a segment of the life sciences market, medical technology and health informatics look to provide a promising avenue. In addition to this, the region is increasingly focused on alternative energy solutions. According to the Middle East Solar Industry Association (MESIA), in 2014, a record number of solar projects were awarded in the Middle East, a four-fold increase over the previous seven years combined. DSP will provide the perfect platform to foster greater collaboration, as well as helping build longer, richer relationships within the Science sectors.

Marwan Abdulaziz, Executive Director, Dubai Science Park said:

Marwan“DuBiotech and EnPark have been successful business communities for many years. However, as they have evolved, we have seen the opportunity to further drive growth and development and as such, we have combined the entities to achieve greater innovations and serve the wider business community.

“The new brand, Dubai Science Park, in partnership with more than 280 business partners, is focused on achieving our vision of becoming the most innovative and vibrant science community in the Middle East - a place where employees and their families can work, live and flourish.”

To coincide with the launch of the new community, DSP commissioned a White Paper in collaboration with The Economist entitled ‘Innovation in Life Sciences: An emerging markets perspective’. The report provides insight into the importance of nurturing innovation in the field of science, examining common barriers to innovation, the role of government support in nurturing the industry and a look ahead at which facets of the science industry have the most growth potential. The research is focused on successful international strategies for innovation in the life science industry and concludes with recommendations that emerging markets, such as the UAE, can undertake to facilitate their own development.

The report will be launched at an event hosted by Dubai Science Park on 26th October at the Armani Ballroom, Dubai.

About Dubai Science Park

Dubai Science Park (DSP) is the region’s first free zone community that serves the entire value chain of the science sector, dedicated to supporting scientific Entrepreneurs, SMEs and multinational enterprises. Formerly known as DuBiotech and EnPark, it is home to over 280 science companies across the life sciences as well as Energy and Environment sectors.
Designed specifically for the needs of businesses and professionals who work in life sciences, DSP fosters an environment that supports scientific research, creativity and innovation. By providing ample office and laboratory space, a robust infrastructure and a vibrant community for residents, DSP ensures a supportive eco-system for businesses to flourish and bring about sustainable change and improvement to the world around us.
Dubai Science Park aims to play a significant role in Dubai’s Vision 2021 by facilitating a more sustainable and self-sufficient future that maximises the sustainable use of indigenous resources and talent. DSP will achieve this by supporting innovation in the sciences by fostering growth and change in the areas of human science, plant science, material science, environmental science and energy science.

publié le 9 November 2012

THE MEYDAN HOTEL, at the recently held ‘World Luxury Hotel Awards’, was named ‘New Luxury Hotel - 2012’

press release

[#The Meydan Hotel, a member of the Meydan Group, in delighted to announce the above award at the annual World Luxury Hotel Awards held in Kuala Lumpur last week.#]

[#Once again the World Luxury Hotel Awards turned the spotlight on some of the world’s most sought after hotels, lodges, resorts & private islands, as they scooped the world’s most prestigious honors for luxury hotels at the glitzy 2012 Gala ceremony held in Kuala Lumpur on October 13th.

The Meydan Hotel won the prestigious title of “New Luxury Hotel – 2012”

Mr. Abdin Nasralla, Vice President of Meydan Hotels & Hospitality said: “The Meydan is positioned as a Destination Hotel, and we are honored by our connection to horseracing and the world renowned Dubai World Cup. To win this accolade is an incredible achievement for the entire team at Meydan. With the recent opening of the new Meydan Beach facility, our existing tennis academy and the 9-hole golf course at Meydan, we now offer the largest hotel sports offering in Dubai with activities ranging from horseracing, tennis, golf, shooting to blo-karting, jogging, cycling, fitness and aikido.” We are all delighted to add another award into the Meydan family.

Note to Editors:

The Meydan Hotel

The Meydan Hotel provides a prime location to catch the exhilarating action of the racing season, and creates a coveted travel destination all-year round. With 284 extravagantly appointed rooms and suites, The Meydan Hotel will change your perception of travel with unrivalled standards in luxury hospitality.

The Meydan is a true destination hotel and offers a myriad of iconic meeting venues ideal for business and leisure travelers alike.

Bab Al Shams Desert Resort & Spa
Nestled in the dunes of Dubai, Bab Al Shams Desert Resort & Spa is the ultimate luxury retreat. An exclusive low-rise resort surrounded by natural desert landscape, Bab Al Shams offers guests a one of its kind traditional experience that is true to the culture and heritage of the UAE. Bab Al Shams is located in the heart of the desert, adjacent to Dubai International Endurance City, only a 40-minute drive from the city center of Dubai.

For further information about Meydan Hotels and its properties please contact:
Craig Senior
Regional Director of Sales & Marketing
Meydan Hotels & Hospitality
Telephone: +971 4 381 3154
Email: craig.senior@meydanhotels.com
www.meydanhotels.com#]

publié le 13 November 2013

The Novotel Dubai Al Barsha Opens its Doors

presse release

Overlooking the Arabian Gulf, the four-star hotel has an inventory of 465 guest rooms, five food and beverage outlets, ten meeting rooms and a business centre, not to forget a host of leisure facilities.

The Novotel Dubai Al Barsha, is the latest addition to Dubai’s iconic skyline and is fast becoming a recognized beacon in the city. The innovative hanging gardens that can be seen across the hotel’s façade, signals the fresh approach the hotel takes to how it does business and is a core element of the property’s commitment to sustainable development.

Its location beside the Sharaf DG Metro Station and a minute’s walk from the Mall of the Emirates, means Novotel Dubai Al Barsha is ready to cater to both business and leisure customers. Major business hubs of Media City, Internet City, Tecom, Jumeirah Lake Towers, DIFC and the Dubai World Trade Centre are only a short metro ride away. The hotel is also ideal for shopping, beach holidays or to enjoy any of Dubai’s many tourist attractions.

Philippe Montaubin, General Manager commented: "We are delighted to open our doors. The volume, quality and value of our bedroom product has already generated much interest in the market from our corporate and travel trade partners, our meeting facilities are first class and we look forward to tempting guests with our unique Food and Beverage offerings."

The Novotel Dubai Al Barsha is the fifth Novotel property from the Accor Group to open in the United Arab Emirates. The promotional opening price for a standard room is AED 650 exclusive government fee and service charge. For more information or reservations, please call +971-(04)515-6622.

Guest Rooms: Contemporary design, flexibility and technology

Novotel Dubai Al Barsha opens with 465 guest rooms including Superior and Executive rooms, over 100 interconnecting family rooms and 89 fully furnished suites. The interiors have followed a modern approach taken from a fresh colour palette of primary colours. All rooms boast large beds, contemporary bathrooms with eco-friendly products, an LED flat screen TV, high speed wireless internet, work area, laptop sized safety box and temperature controlled air conditioning, along with other modern and high-tech features. Additional design features include backlit headboards, dedicated vanity units and contemporary art. The hotel also offers spectacular views of the city of Dubai and the beach from its forty-one floors.

Meeting@Novotel

Novotel Dubai Al Barsha offers business guests with a unique experience committed to five key elements: instant availability; attention to details; bespoke solutions; dedicated support and well-being. From modern furniture and contemporary design to various set ups and state of the art technology including audio and visual facilities, the hotel’s Business Centre and 10 function rooms cater for meetings, seminars and events, accommodating up to 250 guests. The Meeting@Novotel promotion also provides an all-inclusive, customised meeting service for 10 to 50 participants that aims to inspire innovation. Novotel Dubai Al Barsha also launches the innovative EUREKA meeting concept in the UAE, designed to enhance discussion and creative thinking in a multi flexible meeting room environment, while delivering fully personalised packages. In addition to complimentary Wi-Fi throughout the hotel, there is a dedicated MAC web corner.

Food & Beverage: 24 Hour Catering Solutions

Novotel Dubai Al Barsha plays host to five restaurants and bars: "365", an all-day dining space; "Café Java", a 24 hour boutique pastry take-away coffee corner; "Bubbles", a contemporary Bar lounge with live music; "Deck Se7en", a tropical inspired relaxing poolside terrace, and the region’s only Cajun Louisiana restaurant (New Orleans Speciality), "Cravin’ Cajun".

From mouth-watering local and international bites to sumptuous cocktails, the restaurants and bars aim to satisfy every taste. The catering facilities can accommodate 400 guests in total and the ’round the clock’ service provides 24/7 food and beverage solutions.

In Balance by Novotel: Relaxation and well-being

Open from 6am to 10pm, In Balance by Novotel is the hotel’s fitness and spa facility that offers a range of state of the art Technogym equipment as well as expert personal training services. In the Spa a host of treatments designed to reenergise and revitalise the body and mind including body treatments for both men and women are available, along with seasonal treatments and membership programmes for UAE residents. With seven massage rooms, a designated relaxation area, two saunas, two steam baths and an outdoor swimming pool, guests can enjoy a healthy getaway providing local residents with a tranquil escape from the hustle and bustle of city life.

Family & Novotel: Expertise in family stays

The new hotel caters for families and offers the special Family & Novotel promotion. The offer allows up to two children under the age of 16, sharing the parents’ room to stay and enjoy breakfast free of charge. A 50 per cent discount on the second room is also available for children aged between 8 and 16 years. Other benefits such as late check out until 5pm on Saturday (subject to availability), welcome gifts, supervised Kidz Club, special kid’s menus and baby equipment are also included.

About Novotel

Novotel is a mid-scale hotel of Accor Group, the first hotel operator worldwide, with around 3,500 hotels and 160,000 employees in 92 countries.

Novotel’s consistently high standard of service contributes to the well-being of both business and leisure travellers : think spacious, modular-design guest rooms, balanced cuisine available 24/7, excellent meeting facilities, attentive staff, dedicated children’s areas and rejuvenating health and fitness facilities.

publié le 26 December 2012

Third edition of the ‘Qatar Motor Show’ to open its doors on january 29 2013

press release

Al-Muhannadi: "We strive to make the State of Qatar the most prominent market in organizing exhibitions and conferences in the region."

Doha, Qatar, 26 December 2012: The Qatar Motor Show, the most anticipated event in the Qatari calendar, will open its doors to the public on January 29, 2013 and run for five days to end on the 2nd of February in the Doha Exhibition Center. The newest edition will again be organized jointly by the Qatar Tourism Authority (QTA), q.media Events, and GL events.
“Each rendition of the Qatar Motor Show has put the country squarely on the global automotive industry map,” said QTA Chairman Issa Bin Mohamed Al-Mohannadi. “Last year’s event proved to be even more popular than the first show in 2011, and I am more than optimistic that the 2013 event will break all our previous records. We have an exciting line-up this year of international car brands and events taking place concurrently with the motor show, and I am confident that crowds will be fully entertained and intrigued by what we are offering this time around. I am delighted that we are once again strategically partnering up with q.media and GL Events for the Qatar Motor Show – who have proved to be essential elements in the successes of our previous events.”
The 2013 Qatar Motor Show will showcase brands from across the globe, from family sedans, to SUVs, luxury vehicles, and to sports cars.

“As what has become tradition, the event will happen both inside and just outside the Doha Exhibition Center, with events related to the motor show occurring concurrently,” continued Al-Mohannadi. “Therefore, visitors can also expect to be entertained by drifting shows, a car obstacle course, gymnastic performances, sporting relays, and of course, a classic car show. Visitors can also expect a surprise or two.”

“We have a line-up that will definitely cause a stir, including the unveiling of never-seen before models from renowned car brands, visits and talks from high-caliber celebrities, an area dedicated to one specialized and innovative car brand, and one of the most exciting hyper cars to come to life - with an Arab label,” said Yousif Al-Khater, Chief Executive Officer of q.Media. As we get closer to January 29th, you’ll know more, but we promise that 2013 will yet another unforgettable Qatar Motor Show. We expect the Qatar Motor Show 2013 to be the best one yet.”
The 2012 Qatar Motor Show saw a whopping 120,000 people walk through the doors, an incredible 25% increase from the year before. Visitors came from across the region and beyond, providing a tourism boost to the country for the duration of the event.
“We described last year’s edition as nothing but ‘pure entertainment;” added Al-Khater. “2013, I’d like to think we will be offering ‘pure entertainment plus.’ Just a heads up to the public – prepare to be truly entertained.”
More details are available at the show’s website at www.qatarmotorshow.gov.qa, Facebook at www.facebook.com/qatarmotorshow, or you can follow the event’s Twitter feed at @qatarmotorshow.

About Qatar Tourism Authority

Qatar Tourism Authority (QTA) manages Qatar’s burgeoning tourism industry and develop it through establishing high profile international and local exhibitions as successful annual calendar events in Qatar..

QTA’s mission is to promote Qatar as a world class tourism destination for business, leisure, culture, education and sport. Its role is to showcase the country’s unique cultural heritage and highlight its tourist attractions.

Acknowledged as the fastest growing economy in the world, Qatar has taken its place on the world stage by hosting global sporting events such as the upcoming 2022 World Cup. As a world class business hub Qatar is where visitors can also enjoy some of the finest hospitality in the world with uber luxury leisure facilities and abundant tourist activities.

publié le 3 June 2009

This Summer a Suite stay at Suitehotel Mall of the Emirates

The first Suitehotel in the Middle East, set to meet every possible need, will officially open on May 31st 2009 in Dubai

Strategically located within the vicinity of the Mall of the Emirates on Sheikh Zayed Road, the
hotel offers a new way of hotel living and easy access to a world-class shopping mall and an
indoor ski slope.
Suitehotel Mall of the Emirates consists of 180 suites including 54 Junior Suites (48 square meters
each), 124 Master Bedrooms (31 square meters) and 2 special needs rooms.
The suites are spacious and adjustable living areas designed to accommodate all lifestyles whether it
is for business or for leisure.

Hospitality Space & Pleasure

At Suitehotel Mall of the Emirates, one has the freedom to keep his own schedule, and chooses
when it is convenient to eat, work or relax.
The hotel offers 24/7 Deli Boutique with irresistible freshly made food, as well as the possibility
of dining at "Amici", the Italian restaurant and having drinks at the fully licensed "Ezaz" bar.

Specific services also include:

    • an outdoor temperature controlled swimming pool at the rooftop,
    • an exercise room with the latest fitness facilities,
    • Play Station 3 gaming,
    • a Reading area,
    • an e -Corner in the lobby with free internet access
    • massages offered every Thursday

The hotel provides complimentary scheduled shuttle transfers to and from Dubai International
Airport as well as shuttle transfers twice daily to Jumeirah Beach Park.
Commenting on the opening of the hotel, Mr. Christophe Landais, Managing Director Accor
Hospitality Middle East said, “Suitehotel Mall of the Emirates is an important milestone in our
portfolio as it is the first project of its kind in the Middle East. A Suitehotel has recently been
inaugurated in Marrakech adding to the network of 125 hotels worldwide.”
He further noted: “Given the higher expectations of today’s independent traveler, Suitehotel has
created a new way of hotel living that complies with the changing needs of today’s guests. The
location of Suitehotel Mall of the Emirates caters to both business and leisure travelers targeting
the Jebel Ali area, Dubai Media City and the area around the Arabian Gulf”.

About Suitehotel

An Accor brand, Suitehotel operates 25 hotels in France, Germany, Austria, Switzerland and Morocco. Featuring modular 30-square-meter suites, the chain is continuing to build a network that meets the expectations of today’s independent travelers who are looking for a new way of hotel living.

Notes to Editors:

Accor Hospitality ME is one of the fastest growing hospitality groups in the region.Currently, the company’s portfolio includes a total of 27 operational hotels in seven countries in the Middle East.
Among the existing global brands ranging from Sofitel, Novotel, Mercure and Ibis, new brands such as Pullman and
Suitehotel are emerging as strong players in the region.

With over 25 years regional experience, Accor Hospitality ME is the first to establish a training academy, Tamheed -
Accor Academie Middle East, which is dedicated to train all staff levels ensuring career development.

Accor, a major global group and the European leader in hotels, as well as the global leader in services to corporate
clients and public institutions, operates in nearly 100 countries with 150,000 employees. It offers to its clients over 40
years of expertise in two core businesses:

  • Hotels, with the Sofitel, Pullman, MGallery, Novotel, Mercure, Suitehotel, Ibis, all seasons, Etap Hotel, Formule 1 and Motel 6 brands, representing 4,000 hotels and nearly 500,000 rooms in 90 countries, as well as strategically related activities, such as Lenôtre;
  • Services, with 32 million people in 40 countries benefiting from Accor Services products in employee and public benefits, rewards and motivation, and expense management.


Media Contacts :
International
Charlotte Thouvard
Tél : 33 (0) 1 45 38 11 28
charlotte.thouvard@accor.com
Local
Ferial Kurimbux
Tel : +971 (4) 3322637
ferial.kurimbux@accor.com

publié le 17 June 2010

This Summer Stay for $1 at Coral Beach Resort - Sharjah

[#The Coral Beach Resort – Sharjah announced the return of the hugely popular “$1 promotion”, an incredible offer that can be enjoyed throughout summer. This amazing promotion consists of two nights stay for AED 599 net (single or double room) and the third night for $1 only!#]

[#“It’s the perfect way to help beat the global economic crisis. Say goodbye to the daily grind and worries, and enjoy a fabulous stay at our beautiful hotel at prices that would seem impossible”, said Mr. Jean Pierre Simon, Regional General Manager, Northern U.A.E, Coral Hotels & Resorts. “The promotion caters to seasonal travelers looking for the perfect summer getaway, with longer stays to allow time for discovery and entertainment.”

Whether you seek the tranquility of the sea or the dynamic bustle of a modern city, Coral Beach Resort - Sharjah is ideally located to offer both. Merely 15-minutes from Sharjah International Airport and 45-minutes from Dubai International Airport, the deluxe resort is the perfect choice for discerning business and leisure travelers. For shoppers the greatest attractions are the traditional souks and historical sites of both Ajman and Sharjah.


The hotel boasts a total of 156 comfortable and spacious guest rooms, many of which feature lovely views over the sea. All rooms are modern in design and neatly decorated.

The family-friendly resort offers a fantastic range of leisure activities for all ages. Younger guests will love the children’s pool with slides, shaded playground and indoor playroom. There is also a complimentary Kid’s Club for children aged 2-11 years, which offers a range of supervised activities, beach games and more.

For beach lovers, the hotel offers a beautiful stretch of private sandy beach, as well as two outdoor swimming pools with sunbathing areas. Other leisure facilities include tennis courts, badminton, volleyball and a well-equipped gym.

Diners have a choice of 6 different food and beverage outlets, serving a wide variety of international cuisine such as specialty Italian and seafood restaurants, as well as a poolside restaurant, International Buffet Café and a 24-hour bistro.

There are limited rooms available for the $1 offer. The rates are inclusive of tax and service charges and applicable for single and double occupancy. In addition to great accommodations and unsurpassed service, this deal includes complimentary breakfast.#]

For more information call
009716 5022667 or 009716 5229999
visit www.coral-beachresortsharjah.com

publié le 25 February 2013

Thomson Reuters hosts Seventh Gulf Cooperation Council Regulators’ Summit in Qatar

press release

[#Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, hosts the 7th Gulf Cooperation Council (GCC) Regulators’ Summit in Doha in association with the Qatar Central Bank, Qatar Financial Centre Regulatory Authority and the Qatar Financial Markets Authority.
The two day summit is taking place under the patronage of His Excellency Sheikh Abdulla Bin Saoud Al-Thani, the Governor of the Qatar Central Bank and Chairman of the QFC Regulatory Authority and Qatar Financial Markets Authority.#]

[#The GCC Regulators’ Summit remains the Middle East’s premier event on the topics of regulation, compliance, risk and governance, providing a perfect platform for regulators and financial professionals to meet and discuss challenges, propose solutions and share best practice in a unique conference experience.

The summit will cover key themes including the US Foreign Account Tax Compliance Act (FATCA), harmonized regional regulatory approaches, risk management, anti-money laundering, international sanctions, data security, new international core principles (Basel III, IAIS, IOSCO), GCC securities activities and trends, and many more.

In his opening speech, H.E. Sheikh Abdullah bin Saoud Al -Thani, said, "Cooperation amongst GCC regulators is now a crucial need especially as we move forward with addressing loopholes in the GCC financial and business regulatory frameworks."

"The financial system in Qatar has made landmark achievements in the past few years. We have already established a national credit centre, launched a financial assessment and evaluation institution, and issued a new resolution by the Qatar Central Bank to enhance financial stability," he added.

Sheikh Abdullah bin Saoud Al -Thani pointed out that total assets managed by the Qatar commercial banks have increased by 18% to reach QR817bn in 2012 and QR828bn by end of January 2013. "Customer deposits increased by 26% to reach QR458bn in 2012, while credit line facility grew by 27% to QR477bn," he added.

Basil Moftah, Managing Director, Middle East, Africa and Russia /CIS, said, "It is vital we contribute to enhance confidence around transparency, governance and investor protection in the GCC’s financial markets. To this end, the GCC Regulators’ Summit is the region’s landmark forum for the financial compliance community. The summit provides a networking and discussion platform for authorities, practitioners, advisors and market participants. High-caliber speakers will share their knowledge, experience and best practices on the crucial issues facing the financial services industry."

"Thomson Reuters dynamically connects strategy, operations, and business transactions to the ever changing regulatory environment, enabling firms in the GCC to accelerate while identifying and managing risks. Our Governance, Risk and Compliance (GRC) solutions connect over 125,000 users and more than 300 regulators and enforcement agencies around the globe," he added.

Delegates will discuss emergent regulatory trends during the first day including the Arab Spring’s effect, the GCC unified regulatory approaches, and the new rules, regulations and supervisory initiatives to govern securities. The first day will also feature discussion about the impact of extraterritorial legislation, the new developments in global banking regulations, building a compliance culture, and corporate governance in the GCC.

During the second day, Daniel Gallagher, Commissioner, the U.S Securities and Exchange Commission, will be delivering the keynote speech followed by four sessions focusing on supervision of capital markets and exchanges, enforcement, anti-money laundering and due diligence, and sanctions compliance in response to continuous change.

The 7th GCC Regulators’ Summit will attract over 400 pre-qualified senior delegates from the governance, risk and compliance community, in addition to regional and international regulators and other financial organizations.

Among the top speakers are Michael Ryan, Chief Executive Officer, Qatar Financial Centre Regulatory Authority; H.E Abdullah Al Salmi, Executive President, Capital Market Authority, Sultanate of Oman; Dr. Ashraf Elsharkawy, Chairman, Egyptian Financial Supervisory Authority; Ian Johnston, Chief Executive, Dubai Financial Services Authority; Dr. Ibrahim Turhan, Chairman and Chief Executive Officer, Borsa Istanbul & President, Federation of Euro- Asian Stock Exchange; Tajinder Singh, Deputy Secretary General, The International Organization of Securities Commissions (IOSCO).#]

publié le 10 November 2012

Transfer your salary to al khaliji and benefit from an award-winning Premium banking service

Award-winning Premium Banking service includes Doorstep Banking, Priority Pass, and Fusion accounts

Al Khalij Commercial Bank (al khaliji)’s Premium Banking service, recognized as the best premium banking service in the region at the annual “Banker Middle East Product Awards’ hosted by CPI Financial earlier this year, offers a range of benefits and products for the bank’s customers that are unique to al khaliji. From Doorstep Banking to a Dedicated Personal Relationship manager supported by the best contact centre team in Doha our comprehensive service is convenient, hassle-free and most importantly designed to provide a customer experience that is second to none.

“At al khaliji, the needs of our customers are at the core of everything we do,” explained Gary Mond, al khaliji’s Head of Consumer Banking. “As a result, we have developed a very innovative line of products and rewards from instant issuance of cheque books and debit cards when opening an account to free gold bars when you take out a al khaliji mortgage all - designed with our customers in mind. We enjoy high customer satisfaction and we are confident that all new customers will share this sentiment.”

The bank’s line of Visa cards - Classic, Platinum, and Infinite - offer some of the most lucrative benefits of any credit cards in the country. In addition to no annual fees and zero commission on foreign currency purchases while traveling – the only cards in the Qatari market to offer this – cardholders can also take advantage of 2% cash back on their Platinum cards, as well as purchase protection, extended warranty on all items bought using their Visa platinum card. Customers can also apply for up to six supplementary cards totally free.

The bank’s Fusion account, Qatar’s first account that combines the benefits of a savings and a current account into one, is an innovative approach to banking that places the convenience and reward at the same time. This account allows you to collect up to 2% interest on your monthly balance, while giving you access to your funds at all times through ATMS, branches, and al khaliji’s online banking service. In addition, cheque books are for free and there is no minimum balance required to maintain the account.

al khaliji also offers some of the lowest interest rates in the market on all its loans, with an introductory rate of just 4.99% for personal and vehicle loans, and equally attractive rates for mortgages. Besides flexible repayment schedules and maximum loan limits, the bank promises no hidden fees. Additionally, al khaliji is also offering newcomers to Qatar an opportunity to immediately apply for loans as soon as they start their jobs.

To take advantage of al khaliji’s Premium Banking service, customers must first transfer their salaries to the bank. For more details, please visit www.alkhaliji.com or call the Contact Center at 4494 0000.

publié le 9 January 2015

UAE Ministry of Economy steps up preparations for 5 th Annual Investment Meeting 2015, which has attracted representatives from 140 countries

press release

The UAE Ministry of Economy has stepped up the preparations for the 5th Annual
Investment Meeting (AIM), to be held from 30 March - April 1, 2015 at the Dubai International Convention and Exhibition Centre.

  • UAE’s GDP crossed AED 1.54 trillion in 2014
  • H.E. Al Mansoori: “UAE Foreign Direct Investment inflow continues, with potential to attract more in coming years”

The AIM, which will be held under the theme ‘Sustainable Development Through FDI-Induced Innovation and Technology Transfer’, has attracted representatives from more than 140 countries, with ‘Innovation’ as main discussion topic.
H.E Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, has lauded the forum’s theme, as it comes at a time when the UAE is focusing on ‘Innovation’, reflected in recent announcement of the UAE Cabinet under the directive of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE that 2015 would be the year of innovation.
The UAE Federal Government will launch a seven-year, integrated national strategy for innovation, comprising 30 phases, to push the UAE to innovation forefront globally.
Organisers of AIM have urged countries seeking to attract foreign investment to create the appropriate environment to facilitate investments, and surmount logistical and legal obstacles, as well as encourage innovation among all segments of
society.
H.E Sultan Bin Saeed Al Mansoori said that the cumulative FDI in the UAE stood at AED 223 billion from 2006 to 2013, bringing its total cumulative balance to AED 387 billion from various countries around the world.
H.E. said that the UAE has streamlined FDI, especially in logistics, and quoted a 2014 report by United Nations Conference on Trade and Development (UNCTAD) saying that the UAE was able to attract around USD 10.5 billion of FDI during 2013, compared to USD 9.6 billion in 2012, a growth of 9.2%. H.E Al Mansoori projected an increase in UAE’s GDP to more than AED 1.54 trillion in 2014, compared to AED 1.47 trillion in 2013, an approximate growth of 4.8%.

AIM is expected to attract more than 500 companies from 140 counties, displaying projects, products and services for many economic sectors such as agriculture, agro-industry, trade, construction, education, research, energy, finance, banking, aviation, commodities and management of free zones, insurance, government, healthcare, investment in information technology infrastructure, communications, legal affairs, logistics, pharmaceutical industry, marine and submarines industries, mining, tourism, hospitality, transportation and waste management.
Workshops and several business deals will be held on the sidelines of the forum. It will also see the launch the second FDI Report 2015.
Mr. Dawood Al Shezawi, CEO, AIM’s Organizing Committee says: “Emerging markets’ share of FDIs amounted to 54% in 2013, which underpins the importance of AIM 2015.” A day before AIM 2015, a planning conference will be held to throw light on achieving integrated growth, taking into account the income and living standards, through creating new investment relations with the global economy, which in turn
attracts new technologies.
AIM organizers say the forum has become a global hub for the convergence of expertise and open channels of communication, as well as an ideal platform for innovation, providing tips for developing economies to learn from successful models.

H.E Al Mansoori said: "Preparations for AIM 2015 are in full swing, at a time when the latest International Monetary Fund (IMF) forecast show a 3.3 per cent growth in international economy in 2014 and 3.8% in 2015.”

publié le 20 October 2015

UAE to see 62% rise in number of millionaires by 2020 – Credit Suisse

The number of millionaires in the United Arab Emirates is set to grow by 62 per cent over the next five years, the latest annual wealth report from Credit Suisse has found.

According to the report, the number of millionaires within the UAE is set to increase from 59,000 in 2015 to 96,000 in 2020.

The other Gulf country that is set to see a huge growth in its wealthy population is Saudi Arabia, where the number of millionaires is expected to rise from 50,000 in 2015 to 86,000 in 2020 – a 72 per cent growth.

Overall, the Middle East and North Africa countries have an estimated 330, 000 millionaires (as of 2015), up by more than 240 per cent since 2000. The number of millionaires is projected to rise by another 52 per cent to 500,000 by 2020, the report added.

In terms of the highest average wealth per capita, Qatar topped the Gulf Cooperation Council region with wealth of $157,000 per adult in mid-2015, up 0.8 per cent from the same period last year.

The GCC state also ranked 21st globally in terms of average wealth, up from 29th place in 2000, the report stated.

The UAE came second among the GCC countries with average wealth per adult of $144,400. However the amount marked a 0.3 decline compared to last year. Kuwait’s wealth per adult also fell 7.6 per cent from last year to reach $113,400, the report found.

Meanwhile average wealth per adult in the MENA region declined by 6.9 per cent to $15,800 in mid-2015, from $16,900 in mid-2014. However, this decline is largely due to exchange rate weakness, the report said.

The oil producing countries in the Middle East – specifically the GCC countries – have also been hit hard by the drop in oil prices over the past year. Oil prices are down around 50 per cent compared to the highs of about $114 per barrel in June 2014, which has hit state revenues.

In terms of total wealth, Saudi Arabia ranked first among GCC economies, with an estimated total wealth of $0.7 trillion, followed by the UAE with an estimated wealth of $0.6 trillion.

Overall household wealth in the MENA region totalled $4.4 trillion in mid-2015, down 2.2 per cent since mid-2014. In constant currency terms, however, net wealth increased by 1.7 per cent, the report added.

Globally as well, the report found that wealth fell by $13 trillion from mid-2014 to mid-2015 mainly due to the dollar appreciation. If measured at constant exchange rates, global wealth would have risen by $13 trillion since last year.

Chief investment officer for the UK & EEMEA, Private Banking and Wealth Management at Credit Suisse Michael O’Sullivan said: “We are clearly in a growth industry, with wealth set to continue its upward trajectory. By our estimates, wealth could grow at an annual rate of 6.6 per cent, reaching $345 trillion in 2020.

“Furthermore, the number of dollar millionaires could exceed 49.3 million adults in 2020, a rise of more than 46.2 per cent, with China likely to see the largest percentage increase and Africa as the next performing region.”

publié le 13 June 2010

Uniforms fashion show only at Kempinski Nile Hotel

Amidst intensive preparations for its June opening, Kempinski Nile Hotel threw a wonderful fashion show to showcase the new uniforms of its managers and employees. Presenting the event, amongst his colleagues, was the Hotel’s General Manager Axel Ludwig, who was quoted saying: “We care greatly about our employees morale and support team work especially at this time before the opening. “ To employ this strategy the hotel management have come up with a number of interesting team building activities in preparations for the opening planned in June. One of the most important activities was Felluca race where members of staff raced13 fellucas against each other and their sister property from soma bay in the Nile in front of the hotel,Soma Bay team was awarded the first Kempinski Nile Cup in a celebration held afterwards.


The Hotel team members also took a memorable group picture surrounding one of the pyramids, which will be sent out to their colleagues, business associates and the media all over the world, a sign of their imminent opening and strong presence in Cairo. The family day witnessed 40 of the Hotel’s employees’ families who visited for an orientation tour while savouring the delights of the hotel restaurants.

The hotel management also threw a professional fashion show for the media press and family members of the Hotel employees, where they had the Italian designer Sara Capritti who designed staff’s uniform flown in to attend, as 87 members of staff took to the runway to show off their latest apparel”.

Kempinski Nile Hotel’s strategy is far different than most, for it’s the first time a hotel carries out such activities so close to its opening; a promising sign of the hotel’s excellence and one that is sure to leave its mark on the hosting world in Egypt.

For media contact:
Hina Bakht
Vice President
MPJ (Marketing Pro-Junction)
Mob: 0097150 697 5146
h.bakht@mpj-pr.com
www.mpj-pr.com

Editor’s Notes: The Kempinski name is proudly borne by a growing collection of distinguished properties around the world. Europe’s oldest luxury hotel group, Kempinski has built its reputation on the belief that exclusivity and individuality are key elements of true luxury. Each year, an increasing number of guests come to appreciate these qualities, as Kempinski adds new hotels and resorts in Europe, the Middle East, Africa and Asia. While this growth reflects the strength and success of the Kempinski brand, the collection will remain a limited one, where exclusivity can be nurtured and individuality can flourish.

Kempinski is a member of the Global Hotel Alliance. Global Hotel Alliance is the world’s largest alliance of independent hotel brands. It uses a common technology platform to drive incremental revenues and create cost savings for its members, while offering enhanced recognition and service to customers across all brands. GHA currently comprises of Anantara, First, Kempinski, Leela, Mirvac, Marco Polo, Omni, Pan Pacific, PARKROYAL, Shaza, The Doyle Collection and Tivoli, encompassing nearly 300 upscale and luxury hotels with over 65,000 rooms across 48 different countries

To book or for further information visit
www.kempinski.com/press
www.globalhotelalliance.com
www.flyasiana.com
www.staralliance.com

publié le 19 December 2015

World Bank Group Scales Up Support for Egypt

press release

The World Bank Group’s Board of Executive Directors today endorsed a new Country Partnership Framework (CPF) to support Egypt during a critical period of economic and social transformation. The Board also approved a US$1 billion in a development policy finance operation for Egypt to help the country carry out key economic reforms.

The World Bank Group’s support is tailored to help Egypt address its economic and social challenges. It builds upon the Government of Egypt’s medium-term strategy and national priorities for promoting macroeconomic stability and private sector-led job creation, strengthening service delivery, and fostering social justice and inclusion. Priorities include measures to support fiscal consolidation, reorient public spending towards growth and social services, promote energy security, develop a targeted social safety net, strengthen institutional arrangements to improve service delivery in rural sanitation, and modernize public administration.

The CPF will also help implement the World Bank Group’s strategy for the Middle East and North Africa Region, which is focused on supporting peace and stability, prerequisites for fighting poverty and boosting shared prosperity. “World Bank Group support to Egypt will focus on the country’s urgent need to create more jobs, especially for the youth, improve quality and inclusiveness in service delivery, and promote more effective protection of the poor and the vulnerable,” said Asad Alam, World Bank Country Director for Egypt, Yemen and Djibouti.

The CPF for Egypt, prepared jointly by the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA), covers the period 2015 through 2019. It is informed by consultations with a broad range of stakeholders in Egypt. During this 5-year period, IBRD plans on financing around US$6 billion while IFC plans on financing of about US$2 billion for total World Bank Group financing of US$8 billion.

“Jump starting the economy can’t happen without enabling the private sector to play a catalytic role in diversifying the economy, increasing competitiveness, and creating jobs,” said Mouayed Makhlouf, IFC Regional Director for the Middle East and North Africa. .”IFC will continue to support the private sector and reforms that create a level playing field and a business-friendly environment to support Egypt’s growth.”

The CPF reflects a clear departure from past World Bank support for Egypt. This is not only by its proposed scale, which is considerably larger than in the past, but also by its focus on supporting the country’s efforts to renew its social contract with its citizens. The three closely interconnected key pillars of the CPF are improving governance, supporting private sector job creation, and improving social inclusion.

New US$1 billion Development Finance Support for Egypt

The World Bank Group’s Board of Executive Directors today also approved a US$1 billion operation—the First Fiscal Consolidation, Sustainable Energy, and Competitiveness Programmatic Development Policy Financing (DPF). This is the first in a programmatic series of three annual development finance loans to Egypt.

“We are pleased to support the Government’s reform program of promoting fiscal consolidation, ensuring sustainable energy supply, and creating a supportive business environment for entrepreneurs,” said Asad Alam, World Bank Country Director for Egypt, Yemen and Djibouti. “This program is a central element of our CPF to promote policy and institutional reforms for inclusive growth,” he added.

The DPF supports fiscal consolidation through higher revenue collection, greater moderation of the wage bill growth, and stronger debt management; ensuring sustainable energy supply through reducing energy subsidies and liberalizing the energy market to allow for greater private sector engagement; and enhancing the business environment through a package of reforms designed to cut red tape, reduce barriers to entry, and promote better competition policies. The proposed DPF is part of a programmatic series, with the second and third DPFs subject to satisfactory implementation of the multi-year reform program, particularly with respect to an adequate macroeconomic framework. The operation has been prepared in close coordination with the African Development Bank which is providing parallel financing.

publié le 11 November 2015

World Islamic Banking Conference (WIBC) to Chart Future of Commodities, Currencies and Asset classes in 2016

The World Islamic Banking Conference (WIBC) 2015 will gather seasoned economists, asset managers and investment bankers who will provide a holistic view of asset allocation opportunities for 2016 - covering key countries and regions, energy, commodities and currencies for the 1200 delegates in attendance this December.

For 22 years, WIBC has provided the most influential global and regional insights to help C-level executives shape their business strategy for the year ahead. Some of the topical areas the 22nd edition will cover include the impact of US monetary policy on foreign exchange exposure, whether Europe’s stagnation will drag down North Africa and what China’s disappointing growth numbers mean for the MENASEA economies.

Specifically, the global economic growth (or lack thereof), the ongoing oil crisis and monetary policy changes of the US Federal Reserve and European Central Bank â€" all are absolutely key to assessing the asset allocation outlook for Islamic finance in 2016.

In 2014, the global economy grew at a disappointing 2.6% and although it is forecasted to rise to 3.1% and 3.3% growth rates in 2015 and 2016, it is no wonder the discourse has shifted around a “new mediocre” era of global economic growth as commodity-dependent emerging markets adjust to the new realities of lower prices. At the same time, governments in the Organization of Islamic Countries (OIC) region are faced with the challenge of maintaining increases in public finance - particularly for infrastructure investment - with the need for long-term fiscal sustainability. Interest rates policy from Europe and the US will have a strong influence on financial stability in the Middle East North Africa Southeast Asia (MENASEA) region by impacting the flows of capital towards these markets, and its effects have already been felt in countries like Malaysia.

WIBC 2015’s opportune timing will allow investors and asset managers to take stock of the current state of the global political economy. One of the luminaries joining the debate is Talal Touqan, VP/Head of Research & Advisory at Al Ramz Capital, who emphasized the importance of keeping in mind secular trends affecting business more broadly: “new technologies are speeding up business cycles as well as transforming investment styles into a global context.”

He also shared: “Larger economic channels, plus much higher worldwide correlations, dictate a better understanding of how global factors boil down to regional drivers.” Indeed, the sheer strength of the asset allocation outlook series at WIBC lies in the fact that the event has secured speakers who collectively provide a “glocal” perspective â€" deep local expertise and robust understanding of the global political economy - from across various jurisdictions.

One of the jurisdictions that WIBC will shed light on is Turkey, which will be well represented by pioneers from the Central Bank of the Republic of Turkey, Turkiye Finans and RHEA Asset Management. An emerging Islamic finance market, Turkey’s location at the EurAsian crossroads certainly works in its favor. Indeed, Turkish bank Kuveyt Turk announced that is would launch Germany’s first full-fledged Islamic bank in July 2016, a major milestone in providing sharia-compliant banking services to the European market.

Onur Takmak, Founding Partner & Chairman of Turkey-based RHEA Asset Management who will participate in the asset allocation outlook series at WIBC, said: “Doubling its share in consolidated Turkish banking industry assets to around 5% over the last decade, Participation (Islamic) Banking is anticipated to command 20% of the sector by 2023. With state-owned banks muscling into the industry and further developments expected on the Capital Markets side, Islamic investment vehicles and banking products should reach to wider audiences across different geographic, social and economic segments of the society.”

Turkey joins more than 60 jurisdictions to be presented at WIBC 2015 including Kazakhstan, Indonesia, Sudan, Canada, UAE, Bahrain, USA, Nigeria, Australia, Saudi Arabia and Kuwait.

The Asset Allocation Outlook series at WIBC will take place on 3 December 2015 and will include pioneers from distinguished organisations such as Citi, EFG Hermes Holdings, Magni Global Asset Management, Lazard Gulf, Emirates NBD, RHEA Asset Management, Quantum Investment Bank and London Central Portfolio.

WIBC 2015 is a three-day gathering of the financial industry’s leaders, taking place on the 1st, 2nd and 3rd of December at the Gulf Hotel in Manama, Kingdom of Bahrain. For more information, visit www.wibc2015.com.

ABOUT MIDDLE EAST GLOBAL ADVISORS
Connecting markets with intelligent insights & strategic execution since 1993.
Middle East Global Advisors (MEGA) is the gateway connectivity and intelligence platform to opportunities in the rapidly developing economic region that stretches all the way from Morocco in the West to Indonesia in the East - The Middle East North Africa Southeast Asia (MENASEA) connection. We pride ourselves for being at the heart of these diverse markets for over 22 years.
Visit us at meglobaladvisors.com.

ABOUT WIBC

The World Islamic Banking Conference (WIBC) has established its reputation as the world’s largest and most influential gathering of international Islamic banking and finance leaders for over two decades. With the strategic support of the Central Bank of Bahrain, the next generation WIBC will focus on transforming Islamic finance into a global proposition by facilitating strategic opportunities, addressing systematic challenges and connecting international market players and institutional investors to the industry’s catalysts, thought leaders, partners and institutions.
For over two decades, WIBC has served as a key platform for bankers, institutional investors, asset managers, policymakers, academics and other stakeholders within Islamic finance and banking from key markets such as Luxembourg, the United Kingdom, the Middle East, Sudan, Nigeria, Singapore, Malaysia, Indonesia, and other Asian growth markets. Over the years it hosted globally renowned leaders such as Sir Howard Davies, Former Chairman of the European Central Bank, Professor Robert Kaplan of Harvard Business School, Nicholas Naseem Taleb, the author of “The Black Swan,” and Dr. Mark Mobius, Emerging Markets Guru and Executive Chairman of Templeton Emerging Markets. With its strong focus on cutting edge content, WIBC remains the strategic event for staying ahead of the innovation and technology forces that will shape the Islamic financial services industry in the near future.
To find out more, visit www.wibc2015.com.
Join the global conversation on Twitter via @wibc_2015 #wibc2015

publié le 29 August 2016

World Islamic Banking Conference set to strengthen the ethical proposition of Islamic finance

In strategic partnership with the Central Bank of Bahrain, WIBC 2016 is set to gather over 1300 leaders onto a single platform to chart new areas of growth, address economic uncertainties, and unlock opportunities available for the global Islamic finance industry. The event will be held at the Gulf Hotel in Bahrain on the 5, 6, and 7 of December under the theme of "Economic Uncertainties: Vigilance & Growth".

The 23rd edition of WIBC will celebrate the rich heritage and the legacy of the globally renowned brand, one that has for over two decades promoted excellence, innovation and growth for the USD2 trillion Islamic finance industry. Promising fresh and topical content, the event will help produce a roadmap for 2017 and beyond by harnessing technology, cutting-edge research and powerful speakers.

WIBC is known to traverse boundaries; it has truly evolved into a global phenomenon attracting participants from the Middle East, East and West Africa, Southeast Asia, Central Asia, Europe, and North America. Central bankers, ministers and other dignitaries attend this prestigious event with the view of exchanging best practices and learnings on emerging Islamic finance markets. Last year, WIBC played host to a session on country reports from Kazakhstan, Sudan and Canada, as well as welcomed speakers from the central banks of Bahrain, Pakistan, Kazakhstan and Turkey. This year, WIBC 2016 will welcome a delegation from the Central Bank of Russia, headed by Mr. Alexander P. Torshin, State Secretary - Deputy Governor as a keynote speaker, among others.

WIBC is also known for its emphasis on ethical and values-based business in the context of Islamic finance. Indeed, Ethical Banking and Corporate Social Responsibility will be of prime importance on the agenda.

The emphasis on technology is another great feature of WIBC 2016. Sessions will explore how to take Islamic finance forward in a digitally connected world, producing insights from pioneers and innovators in the financial technology space. Key players from Fintech, mobile banking, crowdfunding, and other tech sources will lead the innovation agenda at the conference. The WIBC audience will play a formative role in the discussions, participating via live voting across sessions.
On the intelligence front, WIBC 2016 will continue building on its track-record as the definitive platform for thought leadership with the launch of several reports in collaboration with leading players in the Islamic Finance and Digital Space.

WIBC leaderboard this year will recognize excellence in the industry through the much-coveted WIBC Performance Awards 2016. The nominees will be announced weeks before the December event and the winners at the Gala Dinner on December 6th.

In addition, as a part of the exhibition, a new feature will be added known as the ‘WIBC Majlis’ which will be an exclusive lounge area for conference participants, speakers and sponsors to gather and network in an informal setting.

The conveners of WIBC, Middle East Global Advisors (MEGA) have partnered with a powerful lineup of premier organizations. They include Kuwait Finance House (KFH), GFH Financial Group, Khaleeji Commercial Bank, Bahrain Islamic Bank (BisB), Al Salam Bank Bahrain, Boubyan Bank, Ithmaar Bank, Grant Thornton, Path Solutions, Luxembourg for Finance, Natixis, Eiger Trading Advisors Ltd, SAB IT, ELIAN, AAFAQ Center for Research in Islamic Economy, DDCAP Group, Fitch Ratings, Bank AlKhair and many more.
WIBC 2016 is a three-day gathering of the financial industry’s leaders, taking place on the 5th, 6th and 7th of December at the Gulf Hotel in Manama, Kingdom of Bahrain. For more information, visit www.wibc2016.com.

ABOUT MIDDLE EAST GLOBAL ADVISORS

Connecting markets with intelligent insights & strategic execution since 1993.

Middle East Global Advisors (MEGA) is the gateway connectivity and intelligence platform to opportunities in the rapidly developing economic region that stretches all the way from Morocco in the West to Indonesia in the East - The Middle East North Africa Southeast Asia (MENASEA) connection. We pride ourselves for being at the heart of these diverse markets for over 22 years.

Visit us at meglobaladvisors.com

publié le 20 February 2010

Young guns versus rock stars at the Al Maktoum Sailing Trophy RC 44

[#Invited by Russell Coutts to skipper BMW ORACLE Racing in Dubai next week, the World Match Race Tour champion 2009 Adam Minoprio gets a fantastic opportunity to test his skills against the world’s best match racers.#]

The first regatta of the RC 44 Championship Tour 2010 will take place next week in the United Arab Emirates. Organised by Dubai International Marine Club (DIMC), the Al Maktoum Sailing Trophy RC 44 will reassemble nine world Class teams and sailors including Ray Davies, Terry Hutchinson, Cameron Appleton, Rod Davis and many more.

Unable to attend the event due to their America’s Cup post-victory commitments, Russell Coutts and Larry Ellison have decided to give the opportunity to an up & coming team to test its skills at the world’s top level. Adam Minoprio and his Black Match Racing team - the winners of the World Match Race Tour 2009 - have been chosen; they will sail onboard BMW ORACLE Racing for this event.

"The boys and I are really looking forward to sailing on an RC 44 yacht" said Adam Minoprio. "I have heard so many great things about the class, so it’s going to be really exciting to finally venture into the class with my core team from the match racing circuit. Even though it’s just for one regatta, we are still going to go out there to win. Sailing in the RC 44 class is an amazing opportunity for us as we will be racing some of the best teams in the world. We feel very fortunate to be given this opportunity from BMW Oracle and very humbled to be asked by Russell to take over and get them a good result while they are busy."

Adam Minoprio will be steering BMW ORACLE Racing during the match races on Monday and Tuesday, whilst will Mike Perris will be at the helm during the fleet regatta (Thursday – Saturday). Other members of the team include David Swete (main), Collin Orsini (grinder), Tom Powrie and Lorenzo Deflice (trim) as well as Revelin Minihane (pit) and Nick Blackman (bow). As for Russell Coutts, he will be back on his boat for the next regatta: “I will be re-joining the RC 44 circuit at the following event in Austria", he said. "After the demands of the AC, I am very much looking forward to it."

Other new faces in the circuit include Terry Hutchinson, who joins the RC 44 Class for the first time on board Artemis and Raimondo Tonelli, who will steer Team Sea Dubai in the fleet races.

The teams involved in the Al Maktoum Sailing Trophy RC 44:

Team No Way Back (Pieter Heerema / Ray Davies)
Artemis (Torbjorn Tornqvist / Terry Hutchinson)
CEEREF (Igor Lah / Rod Davis)
BMW ORACLE Racing (Mike Perris / Adam Minoprio),
Team Aqua (Chris Bake / Cameron Appleton)
Team Islas Canarias Puerto Calero (Daniel Calero / José Maria Ponce)
Katusha (Paul Cayard)
Team Sea Dubai (Raimondo Tonelli / Markus Wieser)
Team Austria (René Mangold / Christian Binder)

Information to the media:

During events, news items, results, photos and updates are posted on the Class website throughout the day at http://www.rc44.com/en/regattas/follow

Video news updates are available every evening on the Class website: http://www.rc44.com/en/gallery/index.php?idIndex=163&key=150 and the event summary is posted soon after the end of the last regatta.

Notes to the editor:

The RC 44 is a light displacement, high performance One Design sailing boat. It was designed by four-time America’s Cup winner Russell Coutts, together with Slovenian naval architect Andrej Justin. The RC 44 was created for top level racing in international regattas under strictly controlled Class Rules. The concept and the design features of the RC 44 are dedicated to the amateur helmsmen racing in fleet and match racing sailing events. The Class partners are: Oracle and SLAM (official clothes).

For more information, high resolution photos and video footage please contact:
Bernard Schopfer
bernard.schopfer@maxcomm.ch
M: +41 79 332 11 76
MaxComm Communication
nmedia@maxcomm.ch
P: +41 22 735 55 30

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