Brian Haughan Appointed as Chief Operations Officer;

Rajeev Agarwal Assumes Role of Chief Financial Officer

Dubai, UAE – March 2, 2010    EastNets, a leading global provider of compliance and payments solutions, announced today that the company has added two key executives to its management team to support its business growth plans. EastNets welcomes Brian Haughan as Chief Operations Officer (COO) and Rajeev Agarwal as Chief Financial Officer (CFO).

Brian will be responsible for overall business operations and is based in EastNets’ Waterloo, Belgium offices.  He brings over 27 years of professional experience, including 21 years at SWIFT where he was Executive Head of Customer Operations for four years, and  Executive Head of Products for two years.

Rajeev holds more than 19 years of professional and managerial experience and is based in EastNets headquarters in Dubai. He holds a CPA from the U.S., a CGA from Canada, a CISA, and a CA.  Prior to his appointment with EastNets, Mr. Agarwal was CFO at OceanLake Commerce Inc. as well as Vice President of Finance for Dyadem, a QLM & process risk management software company. In addition, he was also a Senior Director of Finance at Workbrain, a workforce management software company.

“We are very pleased to have such high caliber executives as Brian and Rajeev join the company and  lead the operations and finances of our organization and help EastNets to grow revenue and improve profitability, streamline financial activities, strengthen our ability to achieve operational excellence, and develop innovative new products,” said Hazem Mulhim, CEO of EastNets. “We look forward to their contributions towards EastNets’ enhanced performance, specifically their

assistance in the delivery of value to the market and our global customer base with high quality solutions and services to improve transparency, resiliency and financial controls.”

• Seminar to discuss sector-wide challenges requiring financial scrutiny

• 9 per cent rise in upstream Gulf oil projects in 2009

Bassam Samman, CEO & Founder of CMCS

CMCS (Collaboration, Management and Control Solutions), a Certified Advantage Partner in the Oracle PartnerNetwork, has announced a half-day seminar to discuss the role of project portfolio management in enhancing capital investments and maintaining the value of Oil & Gas (O&G) projects in the Gulf, at the Le Meridian Hotel - Abu Dhabi today (October 28, 2009). Read the full story

Third quarter revenues stand at AED 487.6 million

Fadi Ghandour, Founder and CEO of Aramex

Aramex (DFM: ARMX), the global logistics solutions provider, announced today its financial results for the three months ending September 30, 2009. The company declared a net profit of AED 41.7 million for the period, an increase of 23 per cent compared to AED 33.9 million in the corresponding period of 2008. Revenues for the third quarter of this year stood at AED 487.6 million, a decline of 11 per cent compared to AED 545.7 million in the same period last year. Read the full story

Total assets stand at AED 82.9 billion; deposits touch AED 66.1 billion

His Excellency Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler’s Court of Dubai and Chairman of Dubai Islamic Bank

Dubai Islamic Bank (DIB) announced today its financial results as of September 30, 2009, demonstrating its resilient operations and robust core business despite global challenges facing the financial services sector.

The bank reported a net profit of AED 1.12 billion for the first nine months of 2009, continuing the trend of positive performance in the year to date. In line with its long-term prudent and conservative approach, DIB has made impairment provisions of AED 403 million for the same period, impacting its net profitability. Read the full story

His Excellency Mr Sami Al Qamzi, Director General of the Dubai Department of Economic Development (DED), honoured the Dubai team involved in fulfilling the requirements of the ‘Doing Business 2010’ report of the International Finance Corporation and World Bank. The concerted efforts of various governmental organisations in the UAE have contributed to elevating the country’s position by 14 ranks to No 33 in the report. Read the full story

Mohamed Al Sari, Managing Director of GGICO

Gulf General Investment Company PSC (GGICO) announced net profit of AED 198 million for the 1st half of 2009, with revenues of AED  3.1 billion. Read the full story