July 07, 2010

Roy Froud

Misys plc (FTSE: MSY.L), the global application software and services company, today announces that the National Bank of Oman (NBO) has selected the Misys trade finance solution to allow NBO to expand its business coverage, meeting customer demands and support its growing trade volumes.

The integrated solution combines the power of the back-office processing system, Misys TI Plus with the award-winning Misys Trade Portal, the e-business console. This will enable customers to connect seamlessly to NBO to conduct their international trade business at the same time as accessing a wide range of financial supply chain services.

Founded in 1973, NBO is one of the largest banks in Oman and the first local bank in the Sultanate. It has a paid-up capital of Omani Rials (OMR) 108.1 million and a regulatory capital of OMR 278 million as of December 31, 2009. The bank serves its customers through 64 domestic branches and 170 ATMs as well as 5 branches in Egypt and 1 in the UAE.

The bank recently conducted a comprehensive evaluation to find a provider to replace its legacy trade finance processing system. This move was part of NBO’s plan to expand its trade finance business via innovative trade products and to grow volumes in traditional business areas.

“We were very impressed by the fully integrated front-to-back trade finance solution offered by Misys,” stated Humayun Kabir ,General Manager Wholesale Banking, National Bank of Oman. The corporate Service Level Agreement–driven workflow and business dashboard incorporated into the system were important differentiating factors. We are confident that Misys TI Plus and Trade Portal will help us to meet our growth targets for our traditional products as well as newer ones, such as factoring.”

“NBO has been using the Misys Equation core banking system for over a decade and after an in-depth evaluation period the management team confirmed that our trade finance solution would benefit the bank most,” added Roy Froud, Director - Middle East & Africa, Misys.  “With our integrated solution NBO will now be able to grow its volumes, boost efficiency and broaden its revenue options more effectively.”

Misys TI Plus is a flexible back-office automation system that supports the complete front-to-back trade finance business of banks. The solution includes customizable workflows that provide visibility and control over the entire transaction lifecycle. TI Plus enables banks to define Service Level Agreements for each customer and apply either customer groupings or bilateral agreements for individual customers. It allows images of commercial documents to be scanned and retrieved later during processing, thus reducing paper use and making documents accessible to all parties involved in the processing.

Misys Trade Portal is an integrated online system that enables banks to provide a fully-featured console for connecting customers to the bank over the Internet. Bank customers can process and review their transactions and receive customized news feeds related to their particular industries. Trade Portal provides a multibank architecture that facilitates access to multiple banks and their consolidated transactions. It can handle traditional trade instruments such as Letters of Credit, Collections, Guarantees and Financing as well as the growing open account services based on Purchase Order and Invoice data. In addition to the traditional deployment model within a bank’s infrastructure, Misys also offers Trade Portal as a hosted solution maintained in an enterprise-class data centre.

Misys has been delivering market-leading Transaction Banking solutions for over 20 years. Its integrated portfolio of trade finance and factoring solutions are used by more than 180 banks around the world to meet constantly changing market requirements.

GE's Advanced 6FA Gas Turbine

MUSCAT, OMAN; July 6, 2010: GE (NYSE:GE) has received contracts totaling nearly $300 million to provide advanced 6FA gas turbines and long-term services for the Salalah Independent Water & Power Project (IWPP), which will help support strong economic growth in the Dhofar region of southern Oman.

The plant, located in the Taqah area of Salalah, about 1,000 kilometers southwest of the Omani capital city of Muscat, will have a capacity of 445 megawatts of electricity and 15 million imperial gallons per day of desalinated water to help meet the region’s growing power and clean water needs.

“Both the power and water demands in the Dhofar region have been increasing steadily over the past several years,” said Bob Whitelaw, Chief Executive Officer of the Oman Power and Water Procurement Company. “The Salalah IWPP is a critical part of the growth and investment plans for the Sultanate’s continued social and economic development.”  

All of the electricity and water output from the plant will be sold under a 15-year power and water purchase agreement executed by the Oman Power and Water Procurement Company and Sembcorp Salalah Power & Water Company, which is 60 percent owned by Sembcorp Utilities and 40 percent owned by the Oman Investment Corporation.

“The Salalah IWPP project demonstrates our commitment to deliver advanced technology solutions and services to support the Sultanate of Oman’s and the region’s growing power and water needs, which are critical to providing its citizens with a high quality of life,” said Joseph Anis, GE Energy’s President for the Middle East.

“This project is another example of the worldwide trend we are seeing toward the integration of power and water production at a single site, especially in the Middle East where population and industrial growth rates exceed many other regions of the world. Water and energy are interdependent; energy is needed to generate desalinated water and water is needed to produce energy. GE has the scale, diversity and expertise to effectively support power and water projects around the world,” Anis added.

GE is supplying five heavy-duty Frame 6FA gas turbines, which are equipped with GE advanced emission control technologies. GE also has signed a 15-year contractual service agreement (CSA) for the project, which will include the supply of parts, repairs and field services, and will provide performance services for the gas turbine-generators and accessory equipment. To date, GE has service agreements, including CSAs, in place at more than 600 sites worldwide.

The Salalah project further expands the presence of GE’s F-class gas turbine technology for projects in the Middle East. It also demonstrates the versatility, output range and operating flexibility of 6FA gas turbines, which have been used in a wide range of applications worldwide and have compiled more than two million hours of commercial service in 30 countries. In June of 2009, GE observed a milestone by shipping its 100th 6FA gas turbine, for a project in Russia.

The Salalah IWPP project further expands GE’s strong presence in Oman and the Middle East. More than 1,000 GE turbines have been installed throughout the Middle East, providing more than 70 gigawatts of electricity.

Building on the success of the new XK and XF models globally and in the Middle East, the introduction of the all-new XJ is a landmark for the revitalised Jaguar Brand. Clearly positioned as the company’s four-door flagship, it extends the appeal of the XJ to a new generation of customers.

Ian Callum, Jaguar Design Director said: “The new XJ is a thoroughly modern interpretation of the quintessential Jaguar. It is the most emphatic statement yet of Jaguar’s new design direction.”

Distinguished by unique exterior and interior design features, the XJ includes, an innovative new panoramic glass roof, an integral part of the all-new XJ’s design concept, enabling the car to have a lower, more streamlined roofline, while dramatically enhancing the feeling of light and space inside.

The all-new XJ’s cabin offers four specification levels – Luxury, Premium Luxury, Portfolio and Supersport – allowing the customer to tailor the car to suit their tastes of choice in colours, veneers and leathers not seen before in a Jaguar.

The XJ benefits from the most advanced, powerful and efficient Jaguar powertrains ever. The XJ features a 5.0-litre naturally aspirated V8 engine with 385 horsepower or a 5.0-litre supercharged V8 available in 470 and 510 horsepower versions.

Proven Jaguar dynamic technologies are taken to new levels in the all-new XJ. Features such as air suspension, Adaptive Dynamics (continuously variable damping), Active Differential Control and quick-ratio power steering deliver the blend of responsive, dynamic handling and refined, supple ride expected from a Jaguar.

Inside the car there are advanced new technologies; 12.3-inch high-definition Virtual Instruments complement an innovative, Dual-View technology 8-inch Touch-screen that can project DVD movies or television programmes to the passenger while the driver views vehicle functions or follows satellite navigation.

Premium surround sound options include the top-of-the-range 1200W Bowers & Wilkins system, as well as advanced infotainment features like hard drive-based audio and navigation systems, and comprehensive connectivity for portable audio and video devices via the powerful Media Hub.

The all-new XJ also takes a new approach to sustainable motoring. Constructed using Jaguar’s aerospace-inspired aluminium body technology, the XJ is lighter than its rivals by at least 150kg which significantly improves performance, handling and economy, while delivering increased strength, refinement and safety.

Alan Whaley, General Manager, Alfardan Premier Motors, said, “We’re delighted to have the All-New XJ in our market. The Jaguar Brand and its new design direction have witnessed a huge success in Qatar and we look forward to taking it further with the new XJ.”

Robin Colgan, Managing Director of Jaguar Land Rover Middle East and North Africa said: “We are very excited about our all-new flagship which sets benchmarks in terms of design, performance and engineering. Jaguar customers in this region look for luxury, individuality and performance and we’re certain the flagship XJ, which is truly beautiful and exhilarating to drive, will enjoy success here, just like the XK and XF.”

The all-new XJ offers extremely attractive cost of ownership with impressive fuel economy and emissions performance across the range. 

This delivery of this precious cargo – including one young lioness, one male lion cub and three spotted hyenas – was provided by Aramex, and marks the second time this year the company has transported lions from the Jordanian capital to South Africa.

This activity was carried out by Aramex in cooperation with the Princess Alia Foundation, a Jordanian non-governmental organisation dedicated to promoting the balance, harmony and respect of all creation.

 The Range Rover celebrates its 40th birthday on 17 June 2010
 The Range Rover was the world’s first fully capable luxury 4×4
 There have been three generations of Range Rover: the original (Classic) in 1970, second-generation (P38a) in 1994 and third-generation (L322) in 2001
 Second model line – Range Rover Sport – launched in 2005 became Land Rover’s biggest selling vehicle worldwide in 2007
 Third model line to be revealed at Paris Motor Show 2010

Alan Whaley, General Manager, Alfardan Premier Motors, said: “With the growing success of the Range Rover brand and the increasing demand for premium vehicle brands in Qatar, we would like to reiterate Alfardan Premier Motors’s commitment to promoting Range Rover in Qatar amongst our discerning clientele.”

Phil Popham, Land Rover Managing Director said “Land Rover has a unique history of product innovation. But the Range Rover probably remains the most historically significant vehicle we have ever launched. It is one of the most important vehicles in the history of motoring.”

Robin Colgan, Managing Director Land Rover MENA said “Range Rover is by far our best selling model in this region – our flagship Range Rover Vogue and Range Rover Sport account for around 80% of our volume and are very popular with ex-pats and local buyers alike. When the Range Rover arrived in the region it was the world’s first luxury utility vehicle, and its arrival coincided with the regions first major oil boom, which meant people had the disposable income to purchase a vehicle that was luxurious but could handle the arduous conditions of the Middle East. This established a special relationship between Range Rover and the Middle East and it’s a relationship that endures to this day.”

There have been three generations of Range Rover. The original, now known as the Classic, went on sale in 1970 and continued in production, with numerous upgrades and a multiplicity of variants, for just over 25 years.

The second-generation vehicle, known as the P38a, went on sale in 1994 and was replaced in 2001 by the current model. The continuing success of the Range Rover ensured that other premium makers jumped into the booming luxury SUV market. The latest version has enjoyed higher annual sales than any previous models and continues to be popular around the world. Sold around the world, from London to Los Angeles, Sydney to Shanghai, Turin to Tokyo, the Range Rover remains the ultimate choice for the luxury SUV customer.

“The Range Rover is really four vehicles in one,” says managing director Phil Popham. “It’s a seven-days-a-week luxury motor car; a leisure vehicle that will range far and wide on the highways and noways of the world; a high performance car for long distance travel; and a working cross-country vehicle.”

From princes to politicians, from rock Gods to rock climbers, from footballers to farmers, the Range Rover has always appealed to a diverse group of customers.

A second model line, the Range Rover Sport, was launched in 2005, aimed at more sports-oriented driver-focused customers. It has been a great success, and in 2007 was Land Rover’s biggest selling vehicle worldwide.

Later this year, a further member of the Range Rover family will be added, taking the portfolio to three model lines. The new vehicle will be smaller, lighter and more fuel efficient, tying in perfectly with the Range Rover brand’s commitment to environmental sustainability. Yet it will be no less premium, no less luxurious, and no less special than the other Range Rover models

A Brief History of Range Rover

1966 Work began on the first Range Rover prototype, known as the ‘100-inch station wagon’
1970 The original two-door Range Rover – known as the Classic – goes on sale
1971 Range Rover receives the RAC Dewar award for outstanding technical  achievement
1972 The Range Rover is the first vehicle to cross the Darien Gap on a British Army Trans-America expedition
1974 Range Rover completes west to east Sahara desert expedition – 7,500 miles  in 100 days
1977 A modified Range Rover wins the 4×4 class in the London-Sydney Marathon, a gruelling 30,000 km (18,750 miles) event and the longest ever speed-based car rally
1979 A specially modified Range Rover wins the first Paris-Dakar rally (a Range Rover wins again in 1981)
1981 First production four-door Range Rover appears along with the first  factory-produced limited-edition Range Rover – the ‘In Vogue’
1982 Automatic transmission becomes available on Range Rover
1983 Range Rover 5-speed manual gearbox is introduced
1985  The diesel-powered Range Rover ‘Bullet’ breaks 27 speed records, including a diesel record for averaging more than 100mph for 24 hours
1987 Range Rover launched in North America
1989 Range Rover is the world’s first 4×4 to be fitted with ABS anti-lock brakes
1990 Limited Edition CSK – named after founder Charles Spencer King – is  launched as a sportier Range Rover
1992 Range Rover Classic is the world’s first 4×4 to be fitted with electronic  traction control (ETC)
1992 Long-wheelbase LSE (known as County LWB in the US) launched
1992 Automatic electronic air suspension introduced, a world first for a 4×4
1994 Second-generation (P38a) Range Rover goes on sale
1996 Range Rover Classic bows out after total production of 317,615 units
1999 Limited Edition Range Rover Linley appears at London Motor Show
2001 All-New Range Rover (L322) launched
2002 Half-millionth Range Rover produced at the Solihull plant
2005 Second model line – the Range Rover Sport – launched
2006 Terrain Response and TDV8 diesel introduced
2009 Range Rover features all-new LR-V8 5.0 and 5.0 supercharged petrol engines and technology updates
2010 Range Rover celebrates its 40th anniversary
2010 All-New compact Range Rover to be revealed at Paris Motor Show

June 24, 2010

The regional electricity network currently servicing the four GCC countries of Qatar, Bahrain, Kuwait and Saudi Arabia, will play a key role in meeting demand for an additional 55,000 MW of power through 2015. The first phase of the grid, which was launched during the second half of 2009, has already been completed. The UAE could be added to the network within 2010.

The transnational system might still not be enough to keep pace with the Gulf’s rapidly growing power consumption. Although ongoing regional capacity is at around 75,000 MW, a projected 9.5 per cent growth in annual demand will require more electricity and energy projects. GCC Power 2010, the 8th Regional Conference for National Committees of CIGRE (the International Council on Large Electric Systems) in the Arab Countries and the 15th Exhibition for Electrical Equipment to be held from October 18 to 20, 2010 at the Ritz Carlton Hotel in Doha, Qatar, will reveal business and partnership opportunities driven by the region’s huge power demand.

“GCC Power 2010 is the only event capable of providing a comprehensive view of the latest developments in electricity and energy affecting the Gulf region. It will combine panel and technical sessions with international exhibitions to offer a full range of information and options to industry and government decision makers. The event will also share valuable insights on Qatar’s thriving energy business, which has emerged as one of the country’s primary growth sectors,” said George Ayache, General Manager, IFP Qatar, organizer of GCC Power 2010.

Energy is among the industries that will benefit from the Qatar Government’s USD 140 billion 2010 budget for investment, infrastructure and business expansion. Qatar is already set to become the world’s single largest producer of liquefied natural gas and produce 77 million tons of the product per year. GCC Power 2010 will thus serve as a major entry point for regional and international power investors and companies interested in doing business with Qatar. 

The GCC Power 2010 Conference will discuss development, technologies and techniques in System Operation and Control, System Planning, Development and Technical Studies, Substations, Power Transformers and Reactors, Switchgear and HV Equipment, Transmission Lines and Cables, HVDC and Power Electronics, and Emerging Technologies.  The accompanying exhibition will welcome trade visitors from the GCC, Europe and the US.

Last year’s edition gathered around 500 international delegates to discuss more than 50 papers on electricity and energy. GCC Power 2010 is owned by CIGRE, the GCC regional committee for large electricity systems.

The two companies have signed partnership agreements consolidating the presence of PII Pipeline Solutions – which provides pipeline inspection and integrity services worldwide - and establishing a joint venture for aftermarket services of oil and gas turbomachinery equipment in Qatar.

The strategic partnership agreements will drive the continued growth of Qatar’s energy industries and consolidate GE’s presence in the Middle East region.

Bottom row from right to left: Mohammed Khaled Al Ghanem, QP Manager- Accounting Management and JV Board Member; Ahmed Saif Al-Sulaiti, Chairman of Al Shaheen; Abdul Rahman Al Shaibi, Operations Manager of QP; Said Al Mohannadi, Operations Director of QP; Saif Al Nuaimi QP Corp. Quality Leader; Said Al Khayari QP Marketing Director; Adel Al Anbari, Managing Director of Al Shaheen; Ghanem Al Kubaisi, QP; Michael Bellamy – GM, PII Pipeline Solutions; Ibrahim Al Othman, CEO of Gulf Drilling International

Top row from right to left: Khurram Majeed and Mohammed Tawfik, Sales Managers, GE Oil & Gas; Abdul Aziz Al Ansari, Sales Leader JV; Ayman Khattab, General Manager GE Oil & Gas Middle East; Bill Al Ashkar, Account Executive for QP; Mohammed Alwan, General Manager JV; Alessandro Gorla, Sales Leader for Turbomachinery Middle East, GE Oil & Gas; and Giovanni Giorgi, JV Company Integration Leader, and Mohammed Al Mannai - HR Manager Al Shaheen.

The planned repayment of the maturing notes was made from cash that had been accumulated in order for GIC to manage its maturing debt profile.

“The accumulation of cash has been a testament to the ability of GIC to maintain a highly liquid balance sheet and to meet its commitments to our investors. In addition to these significant cash resources, GIC maintains a portfolio of investment grade marketable securities in excess of US$ 2 billion and a portfolio of listed equities”, said Hisham Al-Razzuqi, Chief Executive Officer, Gulf Investment Corporation.
 
This liquidity more than adequately ensures that GIC is capable of repaying its maturing liabilities. GIC has always placed a high priority on liability and liquidity management and continues to do so.

Established in 1983, GIC is a regional financial institution owned by equally by the six GCC states. It strives to provide a comprehensive range of financial services that support the development of private enterprise and economic growth in the region. GIC managed to achieve a number of major projects throughout GCC countries with diversified activities covering different sectors via financial, petrochemical, steel, power, communications amongst others.

Kuwait, 20 June, 2010: Kuwaiti owned Safir International Hotel Management has recently won two Middle East World Travel Awards at the prestigious 17th Annual World Travel Awards held at The Address Dubai Marina. The properties Safir Hoda Wali Hotel –Iraq and Safir Al-Sayedah Zeinab Hotel-Syria won the coveted titles of Leading Hotel 2010.

The World Travel Awards was launched in 1993 to acknowledge and recognize excellence in the world’s travel and tourism industry. Being recognized for such an award provides a benchmark for hotels and resorts throughout the Middle East to drive up standards of customer service and business excellence. Votes for the World Travel Awards were cast by 180,000 travel industry professionals from more than 175 countries.

Mr. Helmut Meckelburg, CEO, Safir International Hotel Management, said,” It’s a tremendous achievement for us to win two titles at the World Travel Awards for the Middle East region, these awards are the most sought after and is voted for by members of the travel industry across the world. We have invested significantly in both our properties in Iraq and Syria and these awards illustrate our commitment to providing exceptional service and customer satisfaction across the region. With local insight that comes from over 15 years of experience, we look forward to the continuing success of all our properties”

Safir Al Sayedah Zeinab Hotel is located in Damascus, Syria and features 157 elegant and spacious rooms, ranging from standard rooms, junior suites, presidential suite and executive apartment. Safir Hoda Wali located in Karbala, Iraq boasts of 340 rooms and has a multipurpose meeting room and conference venue that is fully equipped with the latest technology.

Safir Hotel & Resorts is a 100% Arabic Company that manages hotels in Kuwait, Qatar, Iraq, Syria, Lebanon, Egypt, Algeria and Oman. With local insight that comes from over 15 years of experience. Safir Hotel & Resorts will expand its presence in the next few years into all Key Cities of the Mena Region and beyond.

For the perfect vacation or business trip, Safir Hotels & Resorts offers guests a private and relaxing atmosphere, deluxe accommodation, superb dining, memorable entertainment with friendly and efficient service

June 9th, 2010: Acxiom MENA is participating as sponsor and keynote speaker at the 7th Annual Media & Telecommunications Convergence Conference on the 7th & 8th of June in Amman, Jordan. The conference will be the forum for discussion and networking to further the convergence of media, telecom and information technology and push traditionally unconnected interest groups in the three sectors towards operating in an increasingly merged segment.

The 2010 Conference is the perfect forum for networking, discussions and debates on the convergence trends underway in the Arab media and telecom markets.

“Acxiom MENA is striving to be the leading engine powering personalized, multi-channel consumer-centric programs for clients and partners in the MENA region,” said Yousef Hamidaddin, CEO of Acxiom MENA and speaker at the conference. “It is therefore appropriate that this year we encourage taking active role in developing the DM industry by being part of different regional initiatives.”

Hamidaddin said that Acxiom had developed experimental models to improve customer acquisition, relationships and retention, as well as increase market share. “Accurate information on a client’s target market allows us to develop precise, accurate and efficient marketing tools. With the inevitable convergence of the three elements on media, IT and telecoms the potential for business development is great, but it requires increasingly reliable information to drive it to success.”

Hamidaddin concluded, “Acxiom MENA creates actionable insights for clients that eliminate guesswork, by helping marketers execute programs that will deliver as promised, leading to more predictable outcomes and results.”

The company helps clients make smarter decisions on their marketing spend based on measurable results that leads to significant growth in profitability and market share and enables customer recognition across multiple touch points such as: Call centers, mailers, e-mail, websites and evaluation sheets.

Acxiom MENA is the premier provider of direct marketing services in the Middle East & North Africa and provides Database management services, Market strategy and planning, Campaign development (tracking & measurement), Digital Marketing, Call Center & Fulfillment services.

By providing multichannel marketing solutions through data Acxiom MENA bridges its clients with their customers for profitable business relationships.

Accompanying Yousef Hamidaddin, CEO of Acxiom MENA, will be Alaa Al-Shroogi (President Acxiom MENA) and Nevin C. Aydar (Communications Director).