Byblos Bank, one of the top three banks in Lebanon, and American Express Middle East (AEME) have announced a new agreement allowing Byblos Bank to distribute and offer American Express Charge Cards to its eligible clients.

Under this agreement, American Express Middle East will issue U.S. dollar-denominated American Express Charge Cards, and Byblos Bank will distribute them to its customers, including The Centurion Card, The Platinum Card, The American Express Gold Card and The American Express Card.

The Charge Cards have no pre-set spending limit and also give Cardmembers access to Membership Rewards from American Express, enabling them to collect points which can be redeemed against a wide variety of reward categories.

“Customer convenience is the driving force at Byblos Bank, and we always seek to provide our customers with superior products and services,” said Mr. Gilbert Zouein, Assistant General Manager and Head of Group Products, Segments, and Marketing.

“The American Express Charge Cards have been tailored to meet the needs of frequent travellers who require financial flexibility wherever they are in the world. We are extremely happy to partner with American Express Middle East to offer these unique products to our customers.”

“American Express Middle East is extremely pleased to sign this partnership agreement with Byblos Bank. We are committed to developing prestigious products that offer Cardmembers compelling offers, outstanding value and first class customer service. The American Express Charge Cards suite is ideally positioned for Byblos Bank’s most premium customer base,” said Mr. Hassan Mokdad, Country Manager, Lebanon, AEME.

With no pre-set spending limit, Cardmembers have the purchasing power that suits their lifestyle. In addition, Cardmembers are provided with personalised service and valuable benefits, such as regional and global airport lounge access, enrolment into the award-winning Membership Rewards programme and, comprehensive travel insurances.

Qatar Islamic Bank (QIB), one of the largest Islamic banks in Qatar and one of the top-five Shari’a-compliant banks in the world, has announced the signing of a deal with the Middle East Dredging Company (Medco) to finance the company’s requirements to undertake access channel dredging work at the New Port Project.

Earlier this month, the steering committee for the New Port Project awarded a key dredging contract to Medco and that company approached QIB for the financing necessary to purchase the machinery, equipment, labour and other necessary works needed to execute the contract.

The agreement was signed on behalf of Medco by Medco Chairman Mr. Abdulrahman A. Abdulghani and Medco Management Team. and on behalf of behalf of QIB by its Acting CEO, Mr. Ahmad Meshari.

Mr Meshari commented in the wake of the agreement, “Signing a financing agreement of this size confirms that QIB is capable of providing Islamic Financing solutions that enable large companies to execute large projects. The New Port Project certainly falls into the latter category and is a development that will make a positive contribution to the Qatari economy.”

He said, “This financing agreement is a milestone for QIB in that it displays our ability to get involved with the biggest projects. New Port Project is part of the Qatar National Vision 2030 and as such, there is a certain amount of prestige that comes from QIB’s involvement also. When complete, New Port Project will revolutionise the way this country handles imports and exports by sea, contributing to increased maritime trade between Qatar and the rest of the world.”

“Our partnership with Medco through financing this mega-project will reinforce our role as a leading bank with a strategic vision of providing financial support to the market, thus supporting the world’s fastest-growing economy and reinforcing Qatar’s position as a country that attracts foreign investment. This strategy confirms that the investment climate in Qatar offers promising opportunities and the reason why QIB concentrates nearly its entire financing portfolio on the local market,” added Mr Meshari.

Speaking on behalf of Medco, the Management Team headed by Medco General Manager, Mr. Laurent Closset, said, “As a Qatari company, are proud to be awarded this contract, and pleased to have Qatar Islamic Bank as the financier of the project. this partnership further strengthens the solid position of the local Qatari banks and companies. It also embodies the robust and growing economy of Qatar which has been made possible by the vision and leadership of H.H. Emir of Qatar and H. H. The Heir Apparent and the honoured Qatari Government.”

“We extend our thanks and appreciation to the Management and the Chairman of the New Doha Port H.E. Mr. Abdulaziz Mohamed Al Noaimi; the Steering Committee Members and the Managing Team for putting trust in Medco to carry out this project,” he added.

The agreement has been signed in the presence of Mr. Bert Deruiter - General Manager - Wholesale Banking, Mr. Abbas Abdul Majeed - Head of Contracting and Real Estate, and Mr. Ahmed Shams, Senior Relationship Manager from QIB side, in addition to the General manager of Medco, Mr. Laurent Closset, along with his Deputy General Manager Mr Raed Mahfouz, and the Chief Finance Officer, Mr. Babar Rais were also present in the signing ceremony.

Only four months since its official unveil at the Detroit motor show, the first models of the new Bentley Continental GT V8 have arrived in the Middle East region. With all of the first shipment of GT V8s presold, the model already looks set to join the flagship W12 as another key member of the Bentley model lineup.

“After the unveil and the subsequent interest it’s great to have the V8 in market,” said Chris Buxton, Bentley’s regional manager for the Middle East, Africa and India. “The GT V8 opens up the Bentley experience to a whole new market of buyers and adds yet another great car to our model line up. The dealers have been swamped with enquiries, so the lucky few who will receive this first batch of cars will be in a very unique and sought after club.”

This new Bentley V8 engine delivers maximum power of 500 bhp (507 PS / 373 Kw) at 6000 rev/min and an extraordinary peak torque of 660 Nm (487 lb ft) which is available across virtually the entire rev range from 1700 to 5000 rev/min, providing exhilarating performance and effortless power delivery in the Bentley tradition. Combined with a new close-ratio 8-speed automatic transmission, this translates into a 0-60 mph sprint time of 4.6 seconds for the GT (0-100 km/h in 5.0 seconds) and a top speed of 188 mph (302 km/h).

The new V8 engine features variable displacement with a highly sophisticated engine management system, ensuring a seamless and imperceptible transition from V8 to V4 mode under light throttle load.

The high-technology V8 also features high-pressure direct injection, low friction bearings, thermal management, energy recuperation via the charging system, and innovative turbo charger packaging for greater efficiency.

The instantly recognisable growl of the new 4.0 litre V8 engine sets it apart from its Bentley stablemates.

Expressing their potent, muscular character, the new Continental V8 is distinguished by a black gloss matrix grille with chrome frame and centre bar, a red enamel Bentley ‘B’ badge, and a black matrix three-segment lower front bumper divided by distinctive body-coloured strakes.

At the rear, unique chromed ‘figure eight’ exhaust tailpipes, a dark lower valance and red enamel ‘B’ bootlid badge emphasise the sporty, contemporary identity of the new V8. The new Continental V8 can be specified with 20-inch alloy wheels as standard or an optional 21 inch six-spoke design, which are available in a dramatic Diamond Black (exclusive to the Continental V8) or Diamond Silver finish.

Inside the cabin, an Eliade cloth headlining, new contemporary Dark Fiddleback Eucalyptus veneers, optional two-tone leather colour split and short centre console continue the fresh, sporting design theme.

The new Continental GT V8 model will be offered beneath the flagship 6.0 litre, 12 cylinder engined GT, which continues to excite customers with a combination of silken refinement and the ultimate power of the twin-turbocharged W12 Continental engine that, in its most potent form, delivers an astonishing 631 bhp (640 PS).

The Continental GT V8 model features a state-of-the-art, all-wheel drive system employing an advanced Torsen differential and a 40:60 rear biased power split. This ensures safe yet dynamic sports car handling in all road conditions.

Since the launch of the original GT in 2003, the W12-engined Continental range has gone from strength to strength with over 50,000 sales worldwide, making Bentley’s factory in Crewe, England, the largest producer of 12 cylinder engines in the world. The W12 story continues to unfold and remains the ultimate expression of Bentley’s engineering strength.

Distinctive sporting style

• Gloss black matrix grille with bright chrome surround and divider
• Three-segment lower bumper with black air intakes and striking body-coloured dividers
• Dark rear lower valance
• Distinctive twin ‘figure eight’ exhaust tailpipes
• Red enamel Bentley winged ‘B’ badges above the front grille, to the bootlid and wheel centres
• 7 exterior colours offered in standard range

Sporty, contemporary interior

• New Dark Fiddleback Eucalyptus veneer unique to the V8 models
• Eliade cloth headlining and pillar trim
• Short centre console in place of W12 through-console
• 4 hide colours offered in standard range
• Unique two-tone leather colour split

Exhilarating, efficient new 4.0 litre V8 engine

• Exceptional power-to-emissions ratio reflecting engine efficiency
• Variable displacement (a technology first proven on the Mulsanne) imperceptibly cuts 4 cylinders on cruise and light throttle
• Engine optimisation technologies boost efficiency
• Turbochargers mounted within ‘V’ for efficiency and fast response
• Switchable engine mounts ensure refinement
• New, close-ratio, 8-speed transmission with ultra-fast shifts
• Over 500 miles (800 km) range on one tank of fuel
• All-wheel drive system with 40:60 rear biased torque split.

- ‘Radish & Vinegar’, ‘Jellybean’, ‘Chocolate Chip’ amongst 255,000 flavor submissions received so far -

United Arab Emirates – Dubai, April 18th, 2012–The Lay’s ‘Flavor Me’ campaign is provoking great excitement amongst Middle East chip fans, with the quest to find the new Lay’s chip flavor receiving over 255,000 submission so far. The campaign has also uncovered the region’s wilder taste traits, with flavors nominated including radish and vinegar, anchovies, chocolate chip, chicken with chilli and jellybeans. 

Commenting on the flavor nominations being made in the GCC, Lay’s Flavorologist and renowned celebrity Chef Osama said: “It has been an exciting journey as I had the opportunity to discover the latest changes in people’s taste buds and preferences, from various flavors and ingredients. We’re trying to find the perfect flavor and I hope that as many people as possible will continue to submit their choices to create a flavor that fits the public’s modern flavor preferences.”

Speaking on behalf of Lay’s and the company’s reason for launching the campaign, General Manager of Saudi Snack Foods, Talal El-Khalil said, ‘This campaign is all about consumer engagement. This is a business–first for Lay’s in the GCC, never before have we opened up a product decision to the public. We believe that this exciting, consumer-focused initiative is the best way of giving the public what they really want.’

As their way of demonstrating their ability to deliver any flavor the public would submit,  Lay’s has also launched two unique  ’Limited Edition’ flavors; Pesto and Sweet Onion.

Lay’s statistics wholly back the company’s decision to introduce consumer empowerment; Lay’s makes and sells around 100 million chips a day across 14 countries in GCC and Levant regions. What the consumer thinks really does matter, and this campaign embraces that.

The 2nd Annual Middle East Islamic Finance and Investment Conference (MEIFIC 2012) which was held at the Dusit Thani, Dubai, saw more than 250 leaders in the international and regional Islamic banking and finance industry engage in critical discussions that focused on charting a new growth map for the Islamic finance industry in the Middle East.

Co-located with the 7th Annual World Takaful Conference (WTC 2012), the event was opened with a special inaugural session featuring Hussain AlQemzi, Chief Executive Officer, Noor Islamic Bank and Group Chief Executive Officer, Noor Investment Group; and Dr. Saleh Malaikah, Chairman, Rusd International Holding Group, Vice Chairman & Chief Executive Officer, Salama Group.

Delivering his inaugural address, Hussain AlQemzi said, “The Eurozone crisis and the protests against the global financial system, which we have seen across the world, present our industry with a golden opportunity. It is now time to talk about how Islamic finance can contribute to long-term inclusive, equitable and sustainable economic growth not just here, in the Middle East, but in every country across the globe. Though it is true that greater awareness of the inbuilt strengths of Islamic finance has contributed towards increased international participation in Islamic financial markets, awareness alone is not sufficient to ensure sustainable growth for our industry. To remain competitive we have to continually innovate and adapt. If we are to challenge the conventional banks’ entrenched position in international financial deals, we must develop the capacity to structure multi-currency and cross border transactions and build scale.”

The inaugural keynote address was immediately followed by a keynote industry leaders’ power debate. The session featuring Moinuddin Malim, Chief Executive Officer, Mashreq Al Islami; Oscar Silva, Chief Executive Officer, Global Banking Corporation B.S.C. (c) (GBCORP); and Geert Bossuyt, Chief Executive Officer, Dar Al Istithmar, analysed the key steps that the industry leaders must take in order to achieve a sustainable growth trajectory for Islamic banking in the Middle East and strengthen the regional and international connectivity in Islamic finance.

Commenting on his participation at the event, Moinuddin Malim, Chief Executive Officer, Mashreq Al Islami, said, “The global Islamic banking and finance industry has been on a steady and consistent growth path with the Middle East being its nerve centre. Though the industry has built a wealth of opportunities and options for investors over the last decade, a lot more still has to be done in order for the industry to successfully compete with their conventional counterparts. The Islamic finance industry in the Middle East is at a crucial evolutionary phase. Regardless of the current socio-political concerns facing some markets in the Middle East, there is large untapped liquidity available at the disposal of investors in the region and it is critical that the Islamic finance industry realizes this potential and utilizes the opportunity to ensure stronger growth for the industry in the region. The theme for this year’s Middle East Islamic Finance and Investment Conference, “Room to Grow”, points at this tremendous opportunity and we hope that the discussions at this important event will seek to build a new growth path for Islamic banking and finance in the Middle East.”

Speaking to the media on the sidelines of MEIFIC 2012, David McLean, Chief Executive of the Middle East Islamic Finance and Investment Conference, said, “Though Islamic banking assets have grown significantly over the past few years, they still only represent less than 1% of the total global banking assets - with more than 50% concentration in the Middle East region and this represents a unique growth opportunity. Islamic finance represents one of the fastest growing segments in the global finance industry and the Middle East region has been at the forefront of the dramatic and exponential growth. Being a significant source of capital, Islamic financial institutions in the Middle East are significantly contributing towards the global development of Islamic finance with an increasing number of Middle East based Islamic financial institutions now taking a more global perspective. With the growing global demand for Islamic finance, the Middle East region is well positioned to be the global hub of Islamic finance linking key markets of Asia, Europe and Africa.”

A similar view was expressed by Dr. Jarmo Kotilaine, Chief Economist of the National Commercial Bank who noted that “global Islamic banks assets have grown considerably from $145bn in 2002 to $1,033bn in 2010″.

Assessing the key growth drivers of Islamic finance in the Middle East, Dr. Kotilaine said, “While Islamic banking assets have grown significantly in the past decade, their share of total global banking assets remains marginal. A near-absence of long-term financing tools and a growing importance of long-term capital projects launched in the region have significantly increased the attractiveness of Islamic finance.”

ExecuJet Middle East has welcomed the largest and latest addition to its 20-strong managed fleet in the region - the new VIP 19-seat Embraer Lineage. Based at Dubai International Airport, it complements ExecuJet’s existing charter offering and is now available for third party charter.
 
With a cabin volume at least double the size of a traditional business jet, a stylish cabin featuring a bedroom, shower, and a very large baggage capacity, clientele can work, dine, relax or sleep while travelling in comfort.

“We are delighted to introduce this Embraer Lineage into our ever-growing family of managed aircraft. Not only is it the largest in our management fleet but, it offers very competitive operating economics. It is a tremendously attractive charter aircraft and we know it will be appreciated by our discerning charter customers,” said Paul van der Blom, Business Development Director and Head of Aircraft Management, ExecuJet Middle East.

In addition to their Charter and Aircraft Management departments, ExecuJet Middle East recently released positive results for their regional sales and FBO services.

“The market for Private Jets in the region is well established and continues to recover although at a slower pace than expected. There is a growing trend towards larger aircraft which has a truly global reach,” Mike Berry, Managing Director, explained.

At Dubai Airshow last year the company announced a strategic partnership with National Air Services (NAS Holding) to develop an FBO at King Khalid International Airport (KKIA) in Riyadh.

“ExecuJet’s approach to regional expansion is based on good local partners and sound business ethics with expansion being organic as well as directed,” Mike Berry added.

Leading pan-EMEA IT solutions distributor broadens market reach of QLogic 10Gb Ethernet, converged networking and Fibre Channel solutions

Dubai, UAE – Sunday, April 1st, 2012 – Avnet Technology Solutions, the global IT solutions distribution leader and operating group of Avnet, Inc. (NYSE: AVT), today announced an extended distribution agreement with QLogic Corp., a global leader and technology innovator in high performance networking. Under the terms of the agreement, Avnet Technology Solutions will offer QLogic’s broad product portfolio, including the company‘s 10Gb Ethernet, Fibre Channel, and converged networking solutions, throughout the Middle East and Africa.

“This agreement emphasizes our commitment to the growing 10Gb Ethernet and converged networking markets and significantly strengthens our Fibre Channel offerings for storage networking,” said Henry Godwin, regional managing director, Avnet Technology Solutions, Middle East and Africa. “With a broad selection of field-proven, high performance networking products from an industry leader, our expanded portfolio will allow us to better serve the needs of today’s cloud service providers and virtualized data centers.”

“Avnet Technology Solutions is one of the major distribution powerhouses in EMEA,” said Franco Mezzullo, vice president, EMEA, QLogic. “This agreement gives resellers in the Middle East and Africa compelling choices for 10Gb Ethernet and converged networking solutions, as well as industry-leading Fibre Channel technology. With renowned customer service expertise, Avnet is well-equipped to assist customers with QLogic’s unique, field-proven networking technologies.”

Partners will benefit from Avnet’s mix of local expertise and global scale. As the leading IT solutions distributor in the region, Avnet’s services offering includes flexible financial solutions and pan-regional logistic services. Avnet’s skilled team of sales and technical specialists helps partners configure and close deals across the region.

QLogic is a global leader and technology innovator in high performance networking, delivering adapters, switches and ASICs that power today’s data, storage and server networks for leading Global 2000 corporations. The company delivers a diverse portfolio of networking products that include 10Gb intelligent Ethernet adapters and Fibre Channel over Ethernet (FCoE) converged network adapters, Fibre Channel adapters and switches, and iSCSI adapters and routers. Leading OEMs and channel partners worldwide rely on QLogic products for their networking solutions.

For pricing and further information on QLogic products, Avnet channel partners should contact their sales representative.

March 31th, 2012 – Al-Riyadh -Being one of the fastest growing Saudi companies in the kingdom, SHASTECH, the leading Saudi distributor and retailer of smart devices, has recently received the Middle East CEO Award 2012 which is presented by the ITP International Group.  

At the awards ceremony, the organizing entities praised SHASTECH’s accomplishments and remarkable presence in the local market, besides its professional capabilities which enabled the company to achieve high growth rates through the last three years.

The ITP International Group also highlighted SHASTECH’s rapid development and stressed its capacity to expand its businesses through concluding commercial agreements and entering into strategic partnerships with local and international enterprises which further strengthened its position, boosting its presence in the kingdom, one of the largest Arab markets in the region.

Expressing his gratitude upon receiving the award, SHASTECH’s CEO, Eng. Tareq Al-Ghunaim, said: “We are truly pleased to receive this tribute which is the highlight of long years of hard work and unrelenting efforts in SHASTECH. I thank the award presenters as well as our distinguished employees whose dedication and commitment made SHASTECH what it is today.”

He added: “I believe this award which comes few weeks after our receiving of Griffin’s 2011 top authorized distributor in the Middle East award will inspire us to intensify our efforts to take SHASTECH to the next level.”

Al-Ghunaim stated that SHASTECH’s accomplishments were enabled by the ongoing dedication of its employees and their professional expertise in developing thorough work plans and executing strategies that go along with market trends and customer needs.

Under its umbrella, SHASTECH has a country-wide chain of strategically located iSTORE showrooms that offer a wide selection of Apple, Griffin, and BlackBerry products and their relevant accessories.

Besides its iCARE centers that provide full technical support for smart phones and tablets, SHASTECH operates its own distribution fleet which is one of the largest and most modern delivery channels in the kingdom that distributes and delivers the products of today’s technology manufacturers, including Samsung, Fujitsu, Belkin, Griffin, and iHOME accessories.

It is worth mentioning that an elite group of CEOs working in the country’s vital 16 business sectors was selected carefully by the ITP International Group to be hosted in the ceremony for their outstanding accomplishments and incessant contributions to develop the community and push the wheel of economy further out.

Axis Communications, the world specialist in network video, announces Axis Camera Companion, an entry-level IP video solution for small installations. Consisting of a free software client and Axis network cameras or video encoders with SD-card support, the solution is designed for systems from one to 16 cameras.

It is ideal for retail stores, offices, hotels or other small businesses that need easy-to-use and future-proof video surveillance with HDTV quality.

“While network video is increasingly replacing analog technology in larger installations, smaller video systems still rely heavily on analog cameras and DVRs,” said Baraa Al Akkad, Regional Sales Manager, Axis Communications Middle East.

“With our new solution, we address a segment of the market that has previously not had easy access to IP video. Since Axis Camera Companion records all video in the cameras or encoders, the solution becomes very simple, reliable and cost-effective. Now even small business owners can enjoy the benefits of network video, such as excellent HDTV image quality, remote access to video and scalability,” he added.

The new solution allows small business owners to use HDTV network cameras to help them clearly identify intruders, shoplifters and other incidents. Video can be viewed live and recordings played back from anywhere - on-site or remotely over the Internet. The system supports motion detection and pan/tilt/zoom control. Video clips and snapshots can be easily exported to colleagues and authorities, and the system supports third-party apps for viewing live and recorded video on leading smartphones and tablets, such as iPhone, iPad and Android.

Unlike analog surveillance installations, Axis Camera Companion does not require a central recording device - a digital video recorder (DVR), network video recorder (NVR), or even a computer. The cameras are powered over the network, eliminating the need for separate power cables. All images are recorded onto a standard SD memory card in each camera, and even if a network fails, the cameras keep recording. This reduces cost, simplifies installation, and makes the system more robust as there is no single point of failure.

The Axis Camera Companion solution consists of three parts: Standard Axis network cameras or video encoders with edge storage support for recording onto SD-cards; a free software client and third-party mobile apps used for viewing live and recorded video; and standard third-party network equipment such as routers, switches, SD cards and NAS devices. Existing analog cameras can be integrated via video encoders.

A majority of Axis network cameras and video encoders with firmware 5.40 or later support Axis Camera Companion. The Axis Camera Companion software will be available for free download from Axis portal from March 21, 2012. The cameras are available through Axis’ security installation and system integration partners.

The next steps for collaborative technology development in the Middle East, which will include the launch of a joint industry project this year, were proposed at an event which brought together 30 of the region’s largest oil players.

ITF, a membership organisation of international oil and gas operator and service companies, united more than 70 senior professionals to establish a vision for collaborative oil and gas technology research and development in the GCC (Gulf Cooperation Council).

The not-for-profit technology facilitator brokered discussion between the parties to tackle the most pressing technology barriers to accessing hydrocarbon reserves. The event was sponsored by Kuwait Oil Company and chaired by James McCallum CEO and founder of Senergy, an energy services company which has an operation in Abu Dhabi.

Presentations were given by ITF member companies including Kuwait Oil Company, Petroleum Development Oman, and Shell on the opportunities and some of the common challenges being experienced in the region.

Ryan McPherson, ITF’s regional director in the Middle East and Asia Pacific said, “The event was a huge success in gaining buy-in from oil and gas companies and providing ITF with a clear directive to move forward with a regional group to deliver the vision for collaboration within the GCC. There has been a clear cultural change with oil and gas companies willing to work together on the similar issues they face. The group will convene again to build on this momentum and define the key technology challenges. We also aim to launch an initial demonstrator project before the end of the year to tackle a regional technology challenge and prove how the ITF process can work.”

The next step will be to identify technology needs specific to the GCC region. ITF will then use its proven process to seek innovative solutions which may qualify for up to 100% funding. Joint industry projects allow member companies to share the benefits, cost and risk of delivering new technologies to the field.

ITF member companies have already identified water management as an initial theme and aim to fast track projects on this over the next few months.

Mr McPherson continues: “Some of the challenges particular to this region are water management, heavy oil and asset integrity, as the fields and equipment are getting older. Enhanced oil recovery is also still a big issue to maximise recovery rates. We hope that by providing a platform for knowledge sharing, the collaboration between our members can speed up critical research and development in these areas.”

ITF is headquartered in Aberdeen, UK and opened a base in Abu Dhabi last year. It has a growing membership of global oil and gas operator and service companies. To date ITF has launched more than 180 joint industry projects and invested more than £60m from early stage projects through to field trials and commercialisation. ITF aims to secure a further £50m for new technologies by 2015.