Zahid/Caterpillar

Talal Zahid, Chairman of the Zahid Group, recently hosted a reception in honor of Jim Owens, chairman and CEO of Caterpillar Inc., a major global manufacturer of construction and mining equipment. Owens’ visit to Saudi Arabia included meetings with senior management of Zahid Tractor & Heavy Machinery Co. Ltd., the exclusive distributor of Caterpillar in the Kingdom, and also meetings with key clients, culminating with a tour of Zahid Tractor’s facilities in Jeddah. Welcoming Owens, Fahad Y. Zahid, executive vice president of Zahid Tractor, said:” We are greatly honored by this landmark visit that underscores the key role our partnership with Caterpillar has played in the development of the Kingdom’s construction industry over the past 60 years. It is a role that continues to grow in importance as the Kingdom embarks on a new, long-term phase of development in which, this time round, mega-projects are the main feature, making the Kingdom one of the most attractive countries in the world in terms of investment opportunities that cover a wide range of residential and commercial real estate development, industrial expansion and infrastructure projects.” Owens said: “I have long looked forward to visiting Saudi Arabia, which is one of Caterpillar’s biggest and most strategically important markets, and at last I can see for myself the immense growth of the Kingdom’s cities, its vast network of roads and highways, and the impressive array of architectural styles. Equally impressive is Saudi Arabia’s resilience to the global economic crisis and the country’s strong financial position that enables it to continue with the mega development projects that are a key component in the government’s efforts to stimulate the economy.”

UBS/BCG

UBS Investment Bank and The Boston Consulting Group (BCG) have published their second annual M&A survey of European CEOs and senior executives. The survey is believed to be the most extensive of its kind in Europe. Responses from 166 CEOs and senior executives from across 700 companies and 22 industries suggest that CEO appetite for M&A is surprisingly healthy. One in five companies (19 percent) expects to announce a significant deal (annual sales over 500 million euros) in 2010. This compares with a more usual figure of 10 percent of companies doing significant deals at this point in the M&A cycle. “This survey identifies that there is a large base of corporate buyers expecting to transact in 2010. Deal appetite is encouraging for where we are in the M&A cycle as Europe is entering its 7th M&A wave. One in five companies expects to do a significant deal next year.

Qatar Airways

Part of the fund-raising proceeds from a Qatar Airways-sponsored international car rally last year have been donated to Doha-based Dhreima, the Qatar Orphan Foundation. The Arabian Gulf Adventures Car Rally involving over 70 Rolls Royce and Bentley car enthusiasts in Doha, began in the Qatari capital and was the first tour of its kind held in the Middle East. The Qatari national airline was the official airline of the event. Qatar Airways Chief Executive Officer Akbar Al-Baker presented a check for 25,000 Qatari riyals on behalf of the rally organizers to Dhreima General Manager Khalid Kamal.

Zamil/Vopak

The Zamil Group of Saudi Arabia and Royal Vopak of the Netherlands have signed a memorandum of understanding to develop a joint venture company for the MENA region. The new joint venture aims to develop independent bulk liquid and liquefied natural gas terminal facilities across the MENA region, in order to provide tank storage services to the oil and chemical majors, trading companies and natural gas suppliers. This is a further step in both companies’ growth strategy in this important and rapidly expanding market. Vopak and Zamil Group believe that developing world-class independent bulk liquid storage terminals at strategic locations will be a significant contributing factor in providing the high quality logistic services required for the region’s continuing development. Vopak is described as the world’s largest independent tank terminal operator specializing in the storage and handling of liquid and gaseous chemical and oil products. Vopak operates 79 terminals with a storage capacity of 27.7 million cbm in 31 countries. The terminals are located for users and the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.

Talentrepublic

Although efforts to promote gender equality have gained momentum over the years, widespread discrimination persists when it comes to employment opportunities for women, according to a report by TalentRepublic.net, an emerging leader in the regional employment service market in the Middle East. The report says women have been hit harder than men by the economic recession, with global redundancy rate among women rising 2.5 percent or almost twice the rate for men during the past year. In fact, studies have shown that up to 77 percent of female middle managers around the world aim for senior level positions in their respective companies. TalentRepublic.net cited a recent study showing that up to 60 percent of working mothers across all income and education levels — up 12 percentage points since 1997 — do not want to give up their working status, preferring to work part-time. However, only a quarter of them are actually able to find part-time jobs. In the Arab world, women have been achieving progress in terms of access to education, although this has not translated into more employment opportunities. In Saudi Arabia, for instance, women account for 56.5 percent of the total number of graduates, outnumbering their male counterparts. Jobs in the private sector, however, have remained relatively scarce for women, prompting the Saudi government to issue a new policy allocating up to one-third of all government jobs to women. - compiled by Arab News