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2261AMMAN, JORDAN -  – Fairmont Hotels & Resorts will welcome a new hotel to its growing portfolio in the Middle East – the Fairmont Amman, expected to open in 2014.

This luxurious hotel will be situated next to the Fifth Circle in the heart of Amman, less than 30 minutes from the airport, adjacent to the Embassy District, the new Royal Jordanian headquarters, the Abdali Development and its growing commercial enterprises as well as the desirable residential community of Abdoun.

The Fairmont Amman will feature 290 luxurious guestrooms and suites including Fairmont Gold, the brand’s exclusive lifestyle offering featuring amenities such as private reception and guest lounge.  The hotel’s food and beverage offerings will provide unique concepts designed to add flair and sophistication to an already exciting city. There will be a number of specialty restaurants and bars taking full advantage of the views and outdoor venues. Guests can relax and rejuvenate in Willow Stream, Fairmont’s signature Spa brand, as well as enjoy panoramic city views from the pool deck.  For corporate events, weddings and local galas, over 2,000 square meters of function space, including an 800 square meter ballroom, , will allow Fairmont to customize all aspects of meetings and events for meeting planners.

A contemporary design in harmony with the Jordanian landscape is under the aegis of award-winning WATG, the world’s leading design consultant for the hospitality, leisure and entertainment industries. Interior Design will be led by London-based GA Design International, with over twenty years of experience and with offices located in London, Budapest and Kuala Lumpur.

Isam Khatib and Partners, the developer of the Fairmont Amman, has established one of the largest and most reputable real estate groups in the country, with vast experience in developing high end commercial and residential projects.

“Amman is a key gateway destination in the region, and this property will be an important addition to the growing Fairmont brand,” said Jennifer Fox, President, Fairmont Hotels & Resorts. “Jordan has seen increasing investment in a variety of business sectors and we believe the market will respond positively to the entry of a new luxury hotel in the capital.  We are privileged to join with Isam Khatib and Parteners who are well regarded for their expertise in this industry, and we look forward to the debut of this exciting property.”

One of the oldest continuously inhabited cities in the world, Amman blends heritage and history with modernity, offering visitors a welcoming destination for business or leisure. Fairmont Amman joins Fairmont Bab Al Bahr, Abu Dhabi, UAE; Fairmont Dubai, UAE; Fairmont Heliopolis, Cairo, Egypt; Makkah Clock Royal Tower, A Fairmont Hotel, Saudi Arabia; Fairmont Nile City, Cairo, Egypt; Fairmont Palm Jumeirah, Dubai, UAE (2012); Fairmont Fujeirah, UAE (2012); Fairmont Riyadh, Business Gate (2012) and Fairmont Towers, Heliopolis, Cairo, Egypt.

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Intel, QRCE organize three Workshops on Entrepreneurship

Intel, QRCE organize three Workshops on Entrepreneurship

2251December 19, 2011 Amman - Intel and Queen Rania Center for Entrepreneurship (QRCE), organized three workshops aiming at developing entrepreneurship skills among the youth, and motivating them to launch projects to serve their society.

Delivered by a leading expert from Haas School of Business at the University of California-Berkeley, the first workshop focused on developing Entrepreneurship culture at Universities via training, teaching and competitions. The 2-day workshop saw participations from more than 20 University professors from seven Arab countries, discussing topics related to Entrepreneurship curriculum development and ways to foster Entrepreneurship at their campuses.

The second workshop, Innovation Camp, witnessed more than 30 participants from Intel Youth Enterprise Program. Students managed to develop necessary skills needed to translate innovative ideas into successful projects that could create new jobs in Jordan and reduce unemployment for the youth in the country. At the end of the camp, the best individual ideas and group projects were honored, and received in-kind, and monetary prizes. The third workshop organized, focused on starting and growing for Profit and Social Enterprises, and presented cases studies relevant to the region.

“Intel aims at supporting entrepreneurship in the Middle East through developing partnerships with leading national entrepreneurship development organization such as QRCE,” said Ferruh Gurtas Corporate Affairs Director Intel Middle East, Turkey, & Africa.

“Intel’s entrepreneurship programs aim at providing the youth in the region with the tools and resources, helping them overcome the socioeconomic problems hindering their progress, and empowering entrepreneurs to translate their ideas into projects, which could spur new employment opportunities for them and others. It comes in line with Intel’s vision and investments reaching USD 100 million in training and preparing youth for innovation and creativity,” he added.

For his part, Executive Director for QRCE, Farhan Kalaldeh praised the strategic partnership with Intel and the preliminary results of the youth activities, which, in its totality, sought to establish a generation capable of innovation and development, in face of global challenges. 

He said, “Intel’s support and efforts allowed us to attract a large sector of young innovators, whom we expect to succeed in creating employment opportunities that would gradually reduce unemployment.”

Kalaldeh reaffirmed the role of these workshops and their compatibility with the Center’s objectives and other programs organized to support the spirit of entrepreneurship and perseverance within different youth groups. 

Best Group Projects:
• Activeni: Helping Companies with their CSR Initiatives by recruiting and training interested Youth.
• Wadafak: An online platform focused on career planning and development for Youth.

Best Individual Submissions:
• Mohammad Eliwat:  A new service to help companies in meeting right candidates for specific job opportunities.
• Anas Salhiyeh: A project to create more awareness on current and future needs for employment in the country.

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KIB opens new branch at Fintas

KIB opens new branch at Fintas

2193Kuwait,: Kuwait International Bank (KIB) today opened its latest branch at Fintas in the presence of HE Sheikh Dr. Ibrahim Duaij Al-Sabah and Sheikh Mohammad Al-Jarrah Al-Sabah, Chairman of Al-Dawli.

Sheikh Mohammad Al-Jarrah Al-Sabah commented: “We are very proud to be opening our seventeen new branch in Fintas today.   Our strategy continues to be to seek to expand our branch network across Kuwait, so that we may  provide greater convenience to our customers, as well as allowing us to  expand our potential “Al-Dawli” customer base.

“Customer interests are a top priority for KIB and Al-Dawli aims to provide high quality and creative banking products to customers to help them cope with the demands and needs of modern living.”

Sheikh Mohammad added: “This new branch at Fintas has been fully equipped with integrated systems and helpful and well trained employees who are dedicated to providing  business and retail customers with the very best services, all of which are fully compliant with Shariah banking requirements.

He concluded: “Our location at the centre of the Ahmadi Governorate will also provide both greater convenience for customers in the area, and be attractive to new customers who are seeking the unique range of quality banking products that Al-Dawli can offer”.

The new branch at Fintas will provide fully Shariah-compliant banking services for retail and business customers from today.  The branch is KIB’s seventeen branch to open in Kuwait.

KIB, as one of Kuwait’s leading Islamic financial institutions,  is committed to providing service  and product excellence.  In this context, KIB has developed a range of standards and service measuring tools which helps it to successfully deliver innovative customer services and satisfaction.

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2188Doha - Qatar: Qatargas Chief Executive Officer, Khalid Bin Khalifa Al-Thani, today stated Qatargas would continue to seek, for now and well into the future, increased energy efficiencies across its facilities to ensure stability and  a better tomorrow for future generations.

Presenting a paper on “Supporting the objective of creation of a stable source of income for the State of Qatar,” in the Qatar Ministerial session of the 20th World Petroleum Congress, the Qatargas CEO Khalid Bin Khalifa Al-Thani stated:

“For Qatargas through the vision of His Highness The Emir Sheikh Hamad Bin Khalifa Al Thani and under the guidance of His Excellency Dr Mohammed Bin Saleh Al Sada, Minister of Energy and Industry for the state of Qatar, our track record as a secure and reliable supplier, coupled with our unique geographical positioning and world class facilities in Qatar, allows us to serve both the Pacific basin as well as the Atlantic basin LNG markets. Qatargas now supplies 19 of the 24 LNG importing countries worldwide.  We have delivered over 2300 cargoes to date. We can be certain that the geographical spread of our markets will continue to develop and, through this, we can realise our goal of supporting a stable source of income for the state of Qatar. We’ve established and maintained a proven record and will continue to supply our customers on a safe and reliable basis.”

The Qatargas CEO noted that Qatargas has been transformed in the space of just a few years; from what was a two country-supplier, ranked some way below the industry leaders, to the largest LNG producing company in the world, with a production capacity of LNG at 42 million tonnes per annum (MTA). The company has extended its customer reach to one of truly global proportions, both through its long term customer base and through relationships and contracts established to facilitate short term trades.

“Today we have grown into a best practice operating company model. The concern for safety and the environment are core values, and today we are at the leading edge using technologies which, whenever possible, minimise the impact on the environment.”

Qatargas manages its offshore operations which include a total of 85 wells that send an average of 7.3 billion cubic feet of natural gas every day for onshore processing. The company also manages four joint ventures, Qatargas1, the world’s first fully integrated value chain Qatargas2, Qatargas3, Qatargas4, G2), four world class mega liquefaction Trains each with a production capacity of 7.8 MTA of LNG, and Qatar’s first condensate refinery, the Laffan Refinery, which is designed to be one of the largest condensate refineries in the world.

In addition, Qatargas is currently undertaking the “Jetty Boil-off Gas (JBOG) Recovery Project” which aims to recover gas currently being flared during LNG ship loading at the Port of Ras Laffan, and the Plateau Maintenance Project (PMP) that will ensure the production capacity of Qatargas 1 is maintained at 10 MTA of LNG. Besides, the company is also a stakeholder in the Qatar Helium 2 Project, which is a joint venture owned by Qatargas 2, Qatargas 3, Qatargas 4 and Ras Laffan Liquefied Natural Gas Company Limited (3).

Khalid Bin Khalifa Al-Thani  went on to state: “We are fortunate to have built over the past 27 years a trust and understanding, which has developed into strong relations, with our globally recognised shareholders – all leaders in the global energy industry –  namely  Qatar Petroleum, ExxonMobil, Royal Dutch Shell, ConocoPhillips, Total, Marubeni, Mitsui, Cosmo, and Idemitsu. All have contributed remarkably to the realisation of the state of Qatar’s vision to be the largest LNG producer in the world.”

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2186Doha, Qatar:: Qatargas achieved another milestone today as it announces the signing of a Tripartite Sales and Purchase Agreement to supply Liquefied Natural Gas (LNG) to Chubu Electric Power Company and Shizuoka Gas Company at a signing ceremony during the 2011 World Petroleum Conference in Doha.

Under the binding terms of the Tripartite SPA, Qatargas will transport and deliver ex-ship a minimum of 0.2 million tonnes per annum (MTA) of LNG to a cluster of LNG receiving terminals located in Japan including Chita, Kawagoe, Yokkaichi, Joetsu and Sodeshi, all in Japan. Qatargas will supply the agreed volumes to Chubu Electric Power Company and Shizuoka Gas Company from the Qatargas 1 joint venture starting from 2016.

Khalid Bin Khalifa Al-Thani, Chief Executive Officer of Qatargas said: “This agreement is remarkable in many aspects. It further nurtures our long lasting relationship with Chubu Electric Power Company while it welcomes Shizuoka Gas Company as the first new long-term Japanese buyer of LNG, in addition to those 8 buyers which formed the currently existing consortium purchasing LNG from Qatargas 1 joint venture for contracts signed in 1992 and 1994. It is also an example of how Qatargas can grow its share of the Japanese gas market in partnership with Chubu Electric Power Company.”

He further stated that: “Under the guidance of His Excellency Dr. Mohammed Saleh Al Sada, Minister of Energy & Industry of the State of Qatar and Chairman of the Board of Directors at Qatargas, Qatar has again demonstrated its continuous support to Japan as a nation and one of the world’s most important economies. This agreement is further testimony of our long-term reliable commitment to Japan and the innovative ways in which Qatargas is able support new customers. Whether for a very large sale of LNG or for a smaller volume like under this Tripartite SPA, Qatargas values all of its customers and seeks to assist them all in their aspirations to grow in the future.”

The agreement was signed by His Excellency Dr. Mohammed Bin Saleh Al Sada, Minister of Energy and Industry, Mr. Yuji Kakimi, Managing Executive Officer and General Manager of Fuels Department of Chubu Electric Power Company and Mr. Seigo Iwasaki, Chairman and  Chief Executive Officer of Shizuoka Gas Company.

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IMC – Jordan praises Gulf trade mission

IMC – Jordan praises Gulf trade mission

Funded by the European Union (EU) in cooperation with Jordan Enterprise Development Corporation (JEDCO)

216313 December 2011-Amman, The Institute of Management Consultants and Trainers IMC–Jordan praised the positive results of the Trade Mission, after an official visit to UAE and Oman.

Preceded by a “Business Integration” workshop, the trade mission aimed at stimulating and promoting the Jordanian consulting sector within the GCC, introducing to both public and private sectors the benefits and services provided by its members that could enhance companies’ capabilities and competitiveness.

“Our trade mission succeeded in raising awareness regarding the importance of the consulting sector, its role in developing productivity, and its ability to assist in running projects seamlessly by minimizing technical and management crisis they might face,” said Tamara Abdel Jaber, Chairperson of the Board of Directors IMC–Jordan.

Tamara illustrated that the trade mission embodied the strategic project goals, funded by the European Union (EU) in cooperation with Jordan Enterprise Development Corporation (JEDCO), which aims at developing the consulting sector in Jordan, mainly the much-needed ability to export its services to neighboring countries.

Abdel Jaber praised the efforts and support of both the EU and JEDCO, estimated at 117 thousand Euros, the project is considered vital for IMC-Jordan in the development of its services in order to provide exposure and visibility for its members and enhance their capabilities in providing the regional markets with the necessary Jordanian expertise.

In addition to presentations and sessions, IMC–Jordan exhibited the governing criteria and standards for the sector’s stakeholders, over viewing the “Best Practices,” and “Benefits of Management Consulting” documents drafted by IMC–Jordan to provide the basis for comprehensive occupational standards for the management consulting and training sector.

Additionally, IMC–Jordan presented the “Classification System”, which provides an online data bank enterprises can utilize to determine the consultants they could employ categorized according to experience and specialty.

“This mission embodied the role, status, and objectives of the Institute that aims at organizing the sector according to international standards to ensure a consistent level of services, as a flight from randomness and haphazard practices,” said IMC–Jordan Executive Director, Reema Nasser.

“We had a real chance to introduce the vision and mission of IMC–Jordan to the participants, in addition to gapping the communication bridges between the members and their colleagues in various Arab countries. We motivated and encouraged them to establish similar institutes capable of serving and supporting various sectors, since consulting and training are cornerstones of modern economy,” she added.

It is worth mentioning that the annual income of the Jordanian financial and management consulting, training, and business solutions sector is estimated at USD 220 million, with the Gulf having the largest slice of the Arab cake, albeit a modest one considering the annual income of the global market of the consulting sector is estimated at USD 250 billion.

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Kuwait’s Global eyes second restructuring of $1.7bn debt

Kuwait’s Global eyes second restructuring of $1.7bn debt

2147Creditors of Kuwait’s Global Investment House have agreed to delay repayment of the principal of their debt to the middle of next year, the company said on Monday, so it can undertake a second restructuring.

Global, which is battling tough market conditions, also said in a statement that all creditors had agreed to delay an increase in interest payments to the same date, June 10 2012.

The investment bank said in September it was asking lenders for a delay to principal repayments on debt due in December to allow for a renegotiation of a $1.7bn debt restructuring plan it agreed in 2009.

“The creditors’ agreement to these amendments will provide the appropriate work environment for constructive negotiations to reach a new agreement to restructure the company’s debts,” Global said.

Global has also agreed with bondholders to delay the repayment on a 45 million dinar ($162.45 million) bond to June 2012 from April 2012 to help finalize the wider restructuring, it announced earlier this month.

The company reported a net loss of KD54m for the nine months to September 30.

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Kuwait’s Alafco posts surge in net profit

Kuwait’s Alafco posts surge in net profit

2145Kuwait’s Aviation Lease & Finance Co (Alafco) posted a near quintupling in net profit to KD47m ($169.68m) for the full year ended Sept 30, the company said in a statement on Monday.

Alafco said that its board has approved a cash dividend of 10 fils per share for the fiscal year.

The Kuwait-based firm posted a full-year net profit of KD10.8m in 2010.

Alafco has a customer base of 16 airlines globally. Its lease portfolio increased to 48 aircraft during the year as it took delivery of eight new aircraft last year, the company said.

The company placed a $4.6bn expanded order for 50 Airbus A320neo passenger jets at the Dubai Air Show last month.

It obtained financing facilities worth $313.3m during the year from local and international banks, Alafco said, without naming the lenders.

The firm also announced that it has leased three of its Airbus A320 aircraft to Vietnam’s low-cost carrier VietJet Air.

Alafco will lease the planes to the Vietnamese private airline for 8 years, it said in a statement on the Kuwait Stock Exchange, and the operation will start within three months from the date of delivery.

The planes were released from the services of Kuwait Airways, and the market value of each aircraft is above $40m, it said.

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Qatalum represents Qatar’s newest energy-related industry at 20th World Petroleum Congress

Qatalum represents Qatar’s newest energy-related industry at 20th World Petroleum Congress

2103The events of the 20th World Petroleum Congress wrapped up at the Qatar National Convention Centre in Doha on Thursday, after five days packed with sessions covering all aspects of the world’s petroleum industry, from technological advances in upstream and downstream operations, to the role of natural gas, renewable and alternative energy, the management of the industry and its social, economic and environmental impact.

Qatalum, the state-of-the-art aluminium smelter constructed in line with Qatar’s long-term economic diversification strategy, was present as a representative of Qatar’s newest energy-related industry: aluminium. The smelter, which achieved full production earlier this year, was also a Gold Sponsor of the event.

The triennial World Petroleum Congress, which ran from 4 to 8 December under the patronage of HH Sheikh Hamad Bin Khalifa Al Thani, Emir of the State of Qatar, is considered one of the industry’s premier events, and attracted more than 5,000 participants from around the world, including more than 900 participants from Qatar, and 35 ministers from countries active in the petroleum industry.

The theme for this year’s congress was ‘Energy Solutions for All - Promoting Cooperation, Innovation and Investment’, and focus was on the debate on solutions aimed at providing global access for all to reliable, affordable and sustainable energy in both the near and long term future.

With the world’s third largest natural gas reserves and more than 900 trillion cubic feet of proven natural gas reserves in the world’s largest non-associated natural gas field, Qatar was a natural choice for the hosting of this important event. The country is also the world’s single largest supplier of liquefied natural gas, and in recent years the Qatari government has devoted significant resources to the development of natural gas, particularly gas-to-liquids projects. This energy is now being channelled in a new direction - gas-to-solids, in the form of aluminium. And this is being accomplished through Qatalum, Qatar’s first aluminium smelter.

Speaking of Qatar’s newest energy-related industry, Qatalum CEO Tom Petter Johansen said, “Aluminium has a notably positive economic effect locally, regionally and internationally, as it is used in a wide variety of sectors, such as construction, transport and marine industries. GCC countries are rich in the raw materials required to produce aluminium, which also lowers the production cost in the region significantly. This, together with the implementation of long-term strategies that aim to develop the region’s aluminium industry, have ensured that the region is well positioned to be one of the world’s main aluminium producers. And through Qatalum, Qatar is positioned to be at the forefront of this development.”

Johansen explains that Qatalum is committed to ensuring that Qatar’s shift in focus to gas-to-solids is a successful one. “At Qatalum, we are committed not only to ensuring that we produce the highest quality primary aluminium, but also to ensuring that the progress we have made thus far is sustainable. To this end, we have entered into a number of partnerships and agreements that will ensure the industry’s continued growth, as well as build the foundation for a knowledge-based industry that is sustainable over the long term, and will provide Qatar with economic diversity and sustainability. Our vision is to become a sustainable economic catalyst, using Qatar’s gas energy to create a valuable commodity - aluminium.”

Qatalum is a state-of-the-art aluminium smelter with a production capacity of 585,000 metric tonnes per year that will enable Qatar to contribute a significant portion towards GCC aluminium production. The smelter aims to become a sustainable economic catalyst at the heart of turning Qatar’s gas energy into a valuable commodity - solid aluminium, and hopes to create a strong, knowledge-based industry not only in Qatar, but throughout the region.

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Tempting Offers this Holiday Season at Marina Hotel Kuwait

Tempting Offers this Holiday Season at Marina Hotel Kuwait

249Kuwait, 5 December, 2011: Marina Hotel Kuwait is celebrating this holiday season with exciting offers from 15th December 2011 -30th December 2011. Pamper yourself and your loved one this month and enjoy the charm of genuine Arabian hospitality with a room for two just for KD 77 net, inclusive of buffet breakfast for two and no service charge for your stay.

With a multitude of facilities and services, you can break the daily routine and enjoy some peace of mind with the room package on offer. You can enjoy the vibrant white sands of the private beach along with the state of the art Coral Reef Health Club facilities and amenities– all not far away from your favourite shopping destination.

The fun doesn’t stop here; guests and their families can experience a luxurious escape, and indulge themselves at the hotel’s two renowned restaurants with their freshly prepared, appetizing delicacies. Experience fine dining as ‘The Six Palms’ restaurant serves a scrumptious breakfast buffet, while the ‘Atlantis’ restaurant, which specializes in International and Mediterranean cuisines, would be an exceptional choice for the mouth-watering aroma of its fresh menu choices with a magnificent sea view.

In close proximity to Marina Mall and the Crescent, it is an ideal location for family leisure. The award winning Marina Hotel Kuwait is the destination to be for its dedication to a unique guest experience and high standard of quality service.

Marina Hotel Kuwait offers the perfect venue for the holiday season under the twinkling lights and the cool breeze of the Arabian coast.

For more information, please visit our website:

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