Tag Archive | "Second Annual"

Standard Chartered Bank hosts second Annual Global Research Briefing sessions for its clients in the UAE

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Standard Chartered Bank hosts second Annual Global Research Briefing sessions for its clients in the UAE


4182For the second consecutive year,Standard Chartered Bank hosted a Macro-Economic briefing session titled: “Transition and Divergence” for its Corporate, Priority and Private Banking clients at Etihad Towers Hotel, Abu Dhabi on Sunday 26 October. Following the success of those sessions across the region last year, the Bank held similar briefings to clients in Jordan, Bahrain and Qatar. The Bank will also hold two more sessions for is clients in Dubai and Oman on 27 and 28 October respectively.

The sessions are held exclusively for Standard Chartered Bank’s clients; with a cohesive programme that provides in-depth insight and analysis on the global, regional, and local economic outlook as well as the financial picture for the remainder of the year 2014 and next year. At the sessions, Marios Maratheftis, Managing Director, Global Head of Macro Research, Standard Chartered Bank, John Davies, US Interest Rate, Strategist, Standard Chartered Bank and Shady Shaher, Senior Economist, Standard Chartered Bank will provide their insights and outlook on the local, regional and global economy.

Marios Maratheftis, Managing Director, Global Head of Macroeconomic research, Standard Chartered Bank said:

“The economic dynamics in the Middle East and North Africa (MENA) region are increasingly diverging between the Gulf Co-operation Council (GCC) countries and the rest of the region.

The GCC enjoys strong social and geopolitical stability and a hydrocarbon sector that has created wealth and supported investment. This has driven record growth rates in the region in the past five years. Diversification remains fundamental to the region’s economic stability in the long run.  GCC economies are perusing investments in the right direction, addressing infrastructure needs and investing in sectors that will create more opportunities in the long run”.

“Globally, transition has been a main theme for 2014, and this still holds true for both China and the US. China is rebalancing its economy. This theme will continue to apply to 2015 and beyond, but next year also looks set to be one of great divergence, with monetary policy in major economies out of sync for the first time in years. Central banks in the US, UK, Indonesia, the Philippines, Malaysia and Taiwan look set to start increasing policy rates in 2015”.

Mohsin Nathani, Chief Executive Officer Standard Chartered UAE, said:

“Standard Chartered Bank’s Global Research Briefings are an ideal platform where our clients interact with our global and regional economists and experts to gain insights views about the latest social, economic and financial developments affecting the global trade and finance markets.”

“It is our international footprint across the world’s most dynamic markets and our strong on-the-ground presence that continues to deepen our relationships and bring value addition to our clients here.  We remain committed to bringing International expertise and financial solutions to our Corporate and Institutional, Retail, Commercial, Priority and Private Banking clients in the UAE.”

Standard Chartered is one of the leading international banks operating in the Middle East region for over 90 years. The Bank employs more than 3500 employees and out of its regional headquarters in the Dubai International Financial Centre, Standard Chartered manages regional and international conventional and Islamic Banking operations.

MENA Economic highlights:

Growth dynamics are likely to diverge within the MENA region. The GCC will continue to benefit from healthy growth, underpinned by oil and government-led investment. In the wider MENA region, stability is needed to drive genuine foreign investment flows that will help create much-needed jobs

Saudi Arabia has been growing strongly in 2014. The economy is benefiting from robust non-hydrocarbon sector performance, boosted by strong government investment in diversification and infrastructure. The country recently announced plans to open its domestic equities market to foreign investors.

Abu Dhabi’s non-oil sector has been the key driver, boosted by rising spending on infrastructure and economic diversification. Dubai is also growing steadily as all key sectors – including trade, tourism and retail – benefit from strong regional trade flows and from the emirate’s position as a regional services and trade hub and a major tourist destination.

In Qatar, the economy has benefited from a steady acceleration in government spending. The key drivers of long-term growth are National Vision 2030 and the FIFA 2022 World Cup. Infrastructure investment is taking centre stage. Managing inflation risk will be a key challenge for Qatar over the next five years.

In Jordan, the tourism industry – which accounts for more than 15% of GDP and jobs – has been among the hardest hit sectors by regional conflict; tourist arrivals fell more than 14% in 2013.

In Egypt, real GDP growth has posted the strongest turnaround since 2011. FX aid from GCC states and the fiscal reform measures undertaken by the new government have been credit-positive.



Posted in Banking, Corporate & BusinessComments (0)

World Premiere of motor racing documentary, Speed Sisters, to open Doha Film Institute’s second annual Ajyal Youth Film Festival

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World Premiere of motor racing documentary, Speed Sisters, to open Doha Film Institute’s second annual Ajyal Youth Film Festival


4128The second annual Ajyal Youth Film Festival, presented by the Doha Film Institute, will open on December 1 with the world premiere of Speed Sisters by Amber Fares, a thrilling, action-packed and insightful documentary about the Middle East’s first all-woman motor racing team.

Raising the curtain on the festival’s second edition, Speed Sisters takes viewers inside the West Bank’s streetcar motor racing scene where we follow a group of young Palestinian women brought together by their desire to live life on their own terms. The debut feature by Lebanese-Canadian director, Amber Fares, takes an intimate look at the lives of its five subjects and what motivates them to compete as they challenge social expectations, community politics and family dynamics while also facing restrictions of movement by the Israeli military occupation.

The film was developed with the support of the Sundance Institute and Doha Film Institute’s grants programme, along with a variety of international film funds and hundreds of crowdfunding backers around the world.

Fatma Al Remaihi, Festival Director and Acting CEO of Doha Film Institute, said: “We are absolutely thrilled to present the world premiere of Speed Sisters in Doha at the opening night of the Ajyal Youth Film Festival. It is a film that took us by surprise – a first feature by an exciting new director that depicts a very different aspect of life in Palestine than what we are accustomed to seeing on screen.

“Speed Sisters captures the passion and determination these young women have for their sport, as well as the great sense of personal freedom, camaraderie and positivity that motor racing brings to their lives.

“Our festival is dedicated to bringing generations together through cinema, and Speed Sisters is a wonderful example of a film that explores some of the questions and challenges faced by young people in our region around notions of tradition and modernity.”

The director, Amber Fares, will be in attendance for the opening night along with a delegation of the film’s cast and crew.

Amber Fares said: “We have spent five years in Palestine bringing this story to the screen and I am very excited that Doha will mark the start of our festival journey. Speed Sisters is a story about five fiercely determined women and their drive to break through the obstacles in their lives in order to stay true to themselves and their dreams.

We felt it was a perfect fit to launch our film at this youth-oriented event in the Middle East in order to celebrate the energy, hopes and creativity of young people in the region. We are honored to be opening the second edition of the festival.”

Previously announced titles for the festival include the closing night gala which will feature the Middle East premiere of ‘Kahlil Gibran’s the Prophet’, the animated adaptation of Gibran’s beloved book which world premiered at the Toronto International Film Festival last month. Produced by Salma Hayek and made with support from the Institute’s co-financing programme, the film features the work of nine renowned animators who each depict a chapter from the book. Emirati filmmaker and creator of the popular Freej series, Mohammed Saeed Harib, is among the nine directors.

The full festival programme will be announced early November.

The Ajyal Youth Film Festival builds on the Doha Film Institute’s history of community-based programming. Ajyal, meaning ‘generations’ in Arabic, invites people of all ages to come together to discuss cinema through events that inspire creative interaction, opening up a fun, collaborative environment where young people can express themselves. Driven with the goal to inspire and create, Ajyal has been designed to empower the region’s youth and to inspire film enthusiasts of all ages in Qatar and the region.

The second annual Ajyal Youth Film Festival will take place from December 1 – 6 at Katara Cultural Village. The programme consists of daily public screenings of local and international films; family days; special events and exhibitions; the Sandbox interactive digital playground; school screenings; and the Doha Film Experience - Ajyal’s youth jury, where hundreds of young people between the ages of 8 and 21 will watch and discuss shorts and features and decide on the winning films.

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SEDCO Holding Group Demonstrates Best Corporate Governance Practice Through Second Annual Directors’ Forum

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SEDCO Holding Group Demonstrates Best Corporate Governance Practice Through Second Annual Directors’ Forum


4139SEDCO Holding Group, a leading Shari’ah-compliant organization with a portfolio of a diverse spectrum of operating companies and global investments, held its Second Annual Directors’ Forum in Jeddah, Saudi Arabia. Strategic, practical and timely information was presented during the forum. A networking lunch, discussion and a workshop by the Hawkama Institute for Corporate Governance provided helpful peer exchange opportunities on the relationships among the management, board of directors and shareholders.

The purpose of the Forum, was to discuss the latest trends in corporate governance, effective ways in navigating board related issues and shared lessons learned from experts from the Hawkama Institute. Hawkama provided an in-depth workshop on Corporate Governance. The agenda covering topics ranging from corporate governance and its evolution, state of corporate governance in the MENA region, subsidiary governance and board evaluations.

Sheikh Saleh Bin Mahfouz, Chairman of the Board of Directors of SEDCO Holding Group, acknowledged all of the Group’s Board Members and said, “I applaud the efforts of SEDCO Holding Group and the Forum which facilitated another vehicle for the continuing education and cultural enhancement of the Board of Directors. Investors can benefit from this Forum which seeks to improve corporate governance and promote the development of vigilant, dedicated, and well-informed directors.”

Anees Moumina, CEO of SEDCO Holding Group, addressed the attendees as well, stating, “The Group has a great responsibility to our shareholders who expect: business growth, the ability to focus on strategic issues, risk mitigation and strong team effort. We need to ensure that the right controls are in place to deliver profitable, sustainable results leading to market share growth.” Mr. Moumina added that the Group is proud of the efforts that went into today’s Forum.

The Forum offered Directors a unique opportunity to discuss new approaches to critical boardroom issues regarding corporate governance and ultimately re-establishing alignment between corporate strategy and investor interests.

Corporate governance subjects which were covered in the workshop included: the differences between managing and directing, governance in practice, and the four pillars of governance; accountability, responsibility, fairness and transparency. It was further concluded that positive results achieved by solid corporate governance practices include a lower cost of capital and the improvement of operational and share performance.

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More than 100 Real Estate Entities Participate at the Upcoming second Annual Turkish Gulf Congress for Real Estate and Development

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More than 100 Real Estate Entities Participate at the Upcoming second Annual Turkish Gulf Congress for Real Estate and Development


488Under the patronage of His Excellency, Erdogan Biraqdar, Minister of Urban Planning and Development of Turkey, and the supervision of the Founder of Real-Estate Union in Islamic Countries, Dr. Mohammed Mufarreh, the second Annual Turkish Gulf Congress for Real Estate and Development opens its doors in December for visitors around the world. This annual exhibition aims to attract Saudi and Arab families and potential investors to identify real estate investment opportunities in Turkey. This comes in line with the continuous collaborations between Turkey and the GCC countries and economic legislative laws provided by both states to facilitate real estate and economic development.

Organized by Daleel Turkyia Group for Real Estate and Development, in strategically partnership with CNR, the exhibition provides a platform for real estate and investment entities to display investment opportunities and shed light on tourism projects currently under implementation in Turkey. A number of key government personnel will also attend the inauguration from Turkey and Saudi Arabia.

The government of Turkey recently permitted Saudi and Gulf nationals with full rights to own real estate. This led to an increase in Saudi investments; where the most of the total gulf investments in Turkey originate from the Kingdom of Saudi Arabia.

“We are days away from one of the most important real estate exhibitions in the region. Preparations for the exhibition’s inauguration are underway to welcome Saudi, Gulf and Arab families interested to invest or own property in Turkey. We also have a specialized team of Arabic speakers ready to interact with visitors from the Kingdom of Saudi Arabia and neighboring Gulf countries.” Stated Mohammed Mufarreh, the Founder of Real-Estate Union in Islamic Countries and Managing Director of Daleel Turkyia Group.

100 companies and more will be participating in this year’s event, as well as various banks that specialize in loans and mortgage solutions to provide financial services to potential investors.

He also added: “the exhibition will also showcase a number of investment projects that cater to the diverse needs of companies and individuals, including high end apartments, villas, private farms, and land for residential and/or commercial use for Saudi and Arab families to buy at competitive prices. The exhibition will also feature a number of products and tourist promotions.”

Last year’s edition of the Annual Turkish Gulf Congress for Real Estate and Development achieved significant successes and was attended by more than 300 businesspersons and investors from Saudi Arabia and the Gulf region. This year’s edition, which is organized by Daleel Turkyia Group, is a venue for investors and real estate developers to create long-term economic partnerships between Turkey and Gulf countries. Discussion forums and workshops everyday will also follow the exhibition for 3-4 hours.





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Second annual Construction Week Awards holds in Oman

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Second annual Construction Week Awards holds in Oman



3258Construction Week, the region’s leading publication for the construction industry, held their 2nd annual Construction Week Awards - Oman at a lavish gala dinner and awards ceremony for more than 200 industry professionals on Tuesday 19th March at the Grand Hyatt, Muscat.

The Construction Week Awards were first introduced in Dubai, UAE in 2004 and has since grown to have ceremonies in Qatar, Saudi Arabia and since last year - in Oman.

Companies and individuals in the construction sector were honoured in 12 separate categories on the night and will now be entered into the running for the illustrious titles to be won at the overall Construction Week Awards in Dubai in December.

Big winners on the night included Bahwan Contracting Company who won the sought after Contractor of the Year title for its work in the country for the past 12 months.

Other winners on the night were Carillion Alawi for Overall Project of the Year, winning for Majlis Oman and Atkins who picked up the Consultant of the Year award.

“We are very happy to bring the Construction Week Awards back to Oman,” said Walid Akawi, CEO of ITP Business Publishing - publishers of Construction Week.

“The country has such a unique landscape and character which makes the judging of the awards quite different to our Dubai, KSA or Qatar instalments, where skyscrapers tend to dominate the skyline. However, Oman has seen some very important projects delivered in recent years, and with many more in the pipeline, we only see the growth of the Construction Week Awards in Oman in the years to come,” he added.

The Construction Week Awards - Oman were supported by FAMCO as Gold Sponsors, Al Hassan Engineering and Towell Construction & Co as Silver Sponsors, Bahwan Engineering Group, Al Watanyiah United Engineering and Hill International as Category Sponsors and Hewlett, Carillion Alawi and Galfar Engineering as Associate Sponsors. Exhibition organizers Al Nimr Expo were also an appreciated local partner for the event.

The Construction Week Awards ceremony in Dubai will recognise the best industry achievements - not just in the country, but the entire region when the industry gathers at the awards on Wednesday 11th December.





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FedEx launches second Annual FedEx Cares Week in Dubai

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FedEx launches second Annual FedEx Cares Week in Dubai


2170FedEx Express, a subsidiary of FedEx Corp. and the world’s largest express transportation company launches its second annual FedEx Cares Week in Dubai, and its eight globally this September.

Team members will be provided with volunteer opportunities in the United Arab Emirates and the rest of the world.

More than 4,000 FedEx volunteers worldwide will donate their time and talents to serving local organizations, dedicated to improving the quality of life in the communities where FedEx team members live and work.

This year’s FedEx Cares Week local projects include:

• Blood donation drives, in association with the Dubai Health Authority and the Dubai Blood Donation Centre
• Supporting Dubai Autism Center’s facility maintenance
• Raising funds for the Dubai Autism Center, by placing donation boxes at all FedEx offices and retail locations in Dubai
“FedEx Cares Week gives our team members across the globe the opportunity to make a difference in their own communities,” said David Ross - Senior Vice President of FedEx Express, Middle East, Indian Subcontinent and Africa operations. “A passion for volunteerism is ingrained in the FedEx corporate culture, and FedEx Cares Week is just one of the many ways we join together to give back.”

In addition to volunteering thousands of hours each year worldwide, FedEx is also supporting a Dubai-based educational initiative known as ‘Educate a Child, Build the Nation’, which helps bring computer literacy skills to underprivileged children between the age of 7 and 12 years, paving their way to a brighter future.

The recently launched program is strongly supported by the private and public sectors, which include organizations such as the U.A.E. Ministry of Education, The National Human Resource Development & Employment Authority, General Authority of Youth & Sports Welfare, Bait Al Khair Society, Dubai Charity Association, and others.



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Second Annual ASDA’A Burson-Marsteller Arab Youth Survey challenges stereotypes about Arab youth

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Second Annual ASDA’A Burson-Marsteller Arab Youth Survey challenges stereotypes about Arab youth


• Seven out of ten Arab youth share sense of common identity beyond ethnicity, religion or national background and embrace global citizenship
• Burson-Marsteller Global Vice Chair Karen Hughes, former US Under Secretary of State for Public Diplomacy and Public Affairs, to present study findings in Dubai on March 7
• Prestigious panel of Arab opinion-leaders, drawn from government, business, media, law and arts, will debate implications of survey results

240Dubai, UAE, March 2, 2010: Contrary to the widespread perception of the Middle East as a region defined by conflict and a growing East/West cultural and political divide, the vast majority of Arab youth prioritise harmonious relations with the international community and wholeheartedly regard themselves as global citizens.

These are among the key findings of the Second Annual ASDA’A Burson-Marsteller Arab Youth Survey, a groundbreaking study of 2,000 Arab national and expatriate youth between the ages of 18 and 24 across nine Middle East countries – the six Gulf Cooperation Council countries, Egypt, Jordan and Lebanon.

ASDA’A Burson-Marsteller, the Middle East’s leading Public Relations Consultancy and part of the MENACOM Group, will invite Karen Hughes, Global Vice Chair of Burson-Marsteller and a former US Under Secretary of State for Public Diplomacy and Public Affairs, to share highlights of the research at a VIP reception in Dubai on Sunday, March 7, 2010.

Following her presentation, a prestigious panel of Arab opinion leaders, drawn from government, business, media, law and the arts, will debate the implications of the Survey results.  Dr. Tarik Yousef, Dean of the Dubai School of Government will moderate the discussion.  The panel speakers will include :

1. H.E. Ms. Najla Al Awadi, Member, UAE Federal National Council and Deputy CEO, Dubai Media Inc.
2. Abdul Rahman Al Rashed, General Manager, Al Arabiya Television
3. Mustafa Abdel-Wadood, Managing Director, Abraaj Capital
4. Sultan Sooud Al Qassemi, Independent entrepreneur and media columnist
5. Lubna Qassim, Independent Reform Specialist
6. Ali Mustafa, Independent film maker

Among a variety of topics, the Survey polled Arab youth to rate the importance of global citizenship – the shared feeling of identity regardless of ethnic, religious or national background – with seven out of ten respondents interviewed describing the concept as either ’somewhat’ or ‘very important’.

Arab national and expatriate youth in the UAE went even further, with 79 per cent describing it as ‘somewhat’ or ‘very important’. A plurality of youth in every country surveyed concurred with the exception of Oman, where 41 per cent said the notion of global citizenship was either ‘somewhat or ‘very important’.

Sunil John, Chief Executive Officer of ASDA’A Burson-Marsteller, said: “As with the 2008 survey, our second in-depth attitudinal study of Arab youth challenges a number of inaccurate assumptions about the beliefs and behaviour of the Middle East’s largest and most important demographic.

“Far from rejecting globalisation, Arab youth appear to be actively seeking to participate in the trends shaping the international community. Politicians, business leaders, educators, marketers and the media would do well to take note.”

John said: “Arab youth are talented, media aware and eager to make their mark in the world as fully engaged global citizens. The Second Annual ASDA’A Burson-Marsteller Arab Youth Survey zeros in on critical points in the discussion with young people, maximising the effectiveness of communications and bringing decision-makers closer to an increasingly influential and vocal community.”

The second edition of the ASDA’A Burson-Marsteller Arab Youth Survey, which was conducted in October 2009 by leading international polling firm Penn Schoen & Berland Associates (PSB), polled more people and covered more countries than the inaugural study in 2008.

Whereas the first survey involved online interviews with 1,500 youth in six Arab countries, the second study carried out a total of 2,000 face-to-face interviews among Arab youth in nine Middle East nations.

Robert Kellman, Middle East Business Director of PSB, said: “The second survey has greater reach, more depth and is even more representative of the divergent views of young men and women across the major Arab nations than the 2008 study. The interview sample is weighted to reflect the socio-economic make-up of the participating countries, the geographical distribution of population within them, and the opinions of women as well as men.”

The main themes of the survey include:
• Attitudes to the financial crisis
• Access to technology
• Media consumption
• Social media networking trends
• Attitudes to travel and foreign relations
• Use of leisure time
• Spending habits
• Perceptions of leading brands
• Attitudes towards education
• Perceptions of the private and public sector

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