GFH
Parties to the Caspian Energy Hub (CEH) have signed memorandums of understanding with three leading educational facilities to provide services as part of the CEH initiative to further enhance Kazakhstan’s utilization of its oil and gas reserves. CEH was first announced last month in Astana by the Kazakhstan government, Gulf Finance House (GFH), PFC Energy International and four Kazakh partners. The university of Texas at Austin and Delft Technical University in the Netherlands were identified as the schools that will form the foundation of a locally accredited specialized college (LASC). These two institutions with accredited programs in the field of energy will be working together as partners toward the enhancement of educational services at CEH. At the same time, LMK Resources (LMKR), Dubai, has been selected to provide world-class technical training programs and operate two state-of-the-art geophysical data interpretation and visualization facilities at the Technical and Services Center (TSC). Kazakh President Nursultan Nazarbayev, said: “The Caspian Energy Hub is an important and integral part of the socio-economic development of Kazakhstan. We have the vision, the will, and the knowledge base to implement an industrial, service, research and educational center of excellence that will attract the biggest names in world energy.” The announcement of the educational component of CEH was made during a ceremony at this year’s World Economic Forum at Sharm El-Sheikh to mark the signing of an agreement between all the partners including the Kazakhstan Sustainable Development Fund (Kazyna), Kazakhstan Holding for Management of State Assets (Samruk), Mangystau Investment Company (Mangystau) and Dunie Stock Energy.
Deutsche Bank
Deutsche Bank has recorded a 100 percent annual increase in its foreign exchange trading volumes year on year since it offered FX as an asset class to its clients in the Middle East. Recently, Deutsche Bank for the fourth year running secured the lead position in Euromoney’s annual FX survey as the largest foreign exchange bank by volume. Its share of global turnover broke the 20 percent barrier for the first time this year, to record a 21.7 percent global market share. The bank was also voted as the top provider of FX services globally. The global foreign exchange market continues to grow at an accelerated pace, with reported turnover rising by 41 percent in 2007 to $175 trillion from $125 trillion in 2006. Growth in reported turnover in the Middle East is estimated at 42 percent annually and is poised to increase. Ricardo Honegger, head of global markets for the Middle East and North Africa at Deutsche Bank, said: “Deutsche Bank is the market leader in foreign exchange in the region, and our most notable success has been our ability to achieve a high level of penetration across the full spectrum of the Middle East client-base. The growth in our global market share reflects a very healthy contribution from Deutsche Bank’s regional FX franchise. ”
Zain Group
Zain Group, a major mobile telecommunications in the Middle East and Africa, is sponsoring the international concert honoring Nelson Mandela’s 90th birthday and raising funds for his charitable work. At the concert, which will be held in London, many of the world’s most powerful and instantly recognizable figures and an audience of 46,664 will pay their tributes to one of the world’s most loved leaders, Nobel Peace Prize Laureate and icon of freedom, Nelson ‘Madiba’ Mandela, as he turns 90 later this year. Mandela will arrive in London in June to take part in a series of events to mark his birthday, a very rare occasion since he is now finally “retired from retirement.” Zain Group CEO Dr. Saad Al-Barrak said: “We are proud to be part of this event honoring Mandela, a global icon whose sacrifices for the African people are well known to all. It is in line with Zain’s global ambitions and corporate social responsibility philosophy that we participate in the raising of funds for the Mandela Foundation.” Zain is offering people in Africa the chance to participate in this event by using its mobile phone networks in Africa to send text messages wishing Nelson Mandela a happy birthday. All the money raised from this will be given to the Nelson Mandela Foundation to be used in its charitable work. In addition Zain is making arrangements for people in Africa to see the event. Mandela said at the announcement of the concert: “You all know that I am supposed to be retired but my friends and the charitable organizations that bear my name want to use my 90th birthday year to raise funds to continue our work and so of course I want to help them. So, we have a bargain - I am going to London and they will host a concert at Hyde Park, which will raise awareness of our continuing work and much needed funds.”
Kodak
Kodak has launched its breakthrough V1273 touchscreen digital camera. This 12-megapixel, 3x optical zoom camera boasts an impressive 3-inch touchscreen LCD for large icon displays and finger tip friendly picture editing and management. The innovative smart capture feature automatically identifies the scene and adjusts settings for a great picture in just about any environment. Arif Khan, Area Manager Kodak (Near East) Inc., said: “The touchscreen trend is appearing in the latest gadgets and V1273 is an example of Kodak’s accomplishment in introducing innovative yet simple technology to consumers at the best available prices.” Billed as the ‘hero’ of V series, the V1273 touchscreen camera incorporates an all-glass Schneider-Kreuznach Varigon lens with extra 5X digital zoom that push the EasyShare zoom factor up to a total of 15X. The digital image stabilization automatically minimizes the blur caused by camera shake and delivers sharper pictures. “Now, you can create panoramic shots by combining up to three shots together into one large picture with panorama stitch mode and with the patent Kodak Perfect Touch feature correct poorly captured images in an instant. With MPEG-4 compression, this slim masterpiece allows you capture more video while using less memory, and mark special spots in your video with video bookmarking. HD-enabled, the V1273 takes incredible high definition still pictures and videos for viewing on HDTVs with the Kodak HDTV Dock,” he added.
Bonyan Group
Bonyan International Investment Group, a major real estate developer in Dubai, showcased its AED3.5 billion ‘Eye of Ajman’ at three-day Cityscape Abu Dhabi 2008, which ended last weekend at Abu Dhabi National Exhibition Center with aims of attracting high value investors for the new project after achieving 70 percent sales during the first day of the event and following an initial road show held earlier in the week in Dubai. Located 20 minutes from Dubai, the ‘Eye of Ajman’ project is an accessible community development, which comprises well-appointed plots to provide an outstanding site for mixed-use developments, with a strategically outlined network of roads to facilitate smooth traffic within the city. The developer has allocated plots to accommodate the construction of buildings and plots, which can be used for commercial, residential, offices and hospitality developments.
Hanco
Al Tala’a International Transportation Co. Ltd. (Hanco) has been awarded the highest recognition this year at the MENA (Middle East and North Africa) Travel Award ceremony held in Dubai recently. Hanco has received the platinum award under category “Best rent-a-car - local brand” in recognition of its best transportation services. MENA Travel Awards are based on customer evaluation for service provided and its Chairman Hamad S. Al-Sulaiman says that Hanco is the recipient of this top MENA Travel Award for the 5th consecutive year, starting from year 2003. Over the years, Hanco has made drastic improvements in all areas of its service and now with the positive vision and aggressive approach by its new board of directors Hanco is contemplating on various future plans for taking HANCO to newer heights in the transportation industry. “Hanco has always strived to be a market leader in the transportation industry. It has increased its fleet by almost 25 percent. Also, it is expected to increase to 40 percent by the end of this year.
Green Laser Technology
Green laser technology that sweeps airport runways to scare away birds could help regional civil aviation authorities to combat a large threat to aircraft safety during take off and landing. Bird and wildlife strikes to aircraft costs the US civil aviation industry more than $600 million annually, while 220 people have been killed world-wide as a result of bird strikes in the last 20 years. According to the International Civil Aviation Organization, 90 percent of bird strikes occur at or near airports during take-off or landing and the US Federal Aviation Administration has reported 61 percent of bird strikes occur at less than 30 meters. Nearly 65 percent of bird strikes occur at dawn or dusk, when birds are on runways in search of food. Lord Ingenierie will use the Airport Show, taking place at Airport Expo Dubai from June 2-4 to educate the Middle East aviation industry about their latest generation green laser technology, which is already used by more than 40 airports around the world. The automatic laser system, TOM500 and handheld laser torch, LEM50 were developed by ornithologists from the French Civil Aviation Authority and the technology has proven to be highly effective at clearing birds from runways and airports. The TOM500 laser scans airport runways and surrounding areas at regular intervals, on pre-programmed paths close to the ground, frightening birds away by the stick-like effect of the laser.
NCB
The National Commercial Bank (NCB) launched its Fifth Business Forum in Dubai for Treasury and Corporate clients last weekend. It continued till Saturday. The Forum was attended by a large number of major bank clients and managers. NCB’s CEO Abdulkareem Abu Al-Nasr, who inaugurated the forum stated that the goal of organizing such an event was to offer the bank’s clients more care, strengthen ties with them and show them the latest in the world of economy and business not only in the region but globally. He stated that such events provide a valuable opportunity to interact with major bank clients directly and respond to their inquiries regarding what the bank provides in products and financial solutions, which support their present and future businesses. Abu Al-Nasr added that NCB, which is considered currently the best Bank to offer risk management tools and products, and regional treasury has successfully strengthened its market share to include various banking business areas. It has also succeeded in expanding activities that follow its consistent vision to become “the leading regional financial service group.”
MENA PROJECTS
Six projects in environmental awareness and conservation, cultural heritage and science from the Middle East and North Africa have been short-listed for the 2008 Rolex Awards for Enterprise, the Rolex Awards Secretariat announced in Egypt recently. The renowned philanthropic program, which is to be held in the Middle East for the first time this year, rewards individuals around the world working to advance human knowledge and wellbeing. The regional shortlist, which includes one project each from Jordan, Lebanon, Syria and the UAE and two from Turkey, accounts for more than 10 percent of the international shortlist of 44. The Rolex Awards Secretariat received a record 138 applications from the region for this 13th series, the highest in the program’s 32-year history. “We at the Rolex Awards for Enterprise are very pleased to draw attention to these six unique projects,” Rebecca Irvin, head of the Rolex Awards Secretariat in Geneva, said at a Cairo media briefing.
Samsung
Samsung Electronics has named Yoon-Woo Lee as its new vice chairman & CEO. He replaces Jong-Yong Yun, who has led the company since 1997 and who will now serve as the company’s standing adviser. Dr. Chang-Gyu Hwang, president of Samsung Electronics’ semiconductor business, will replace Vice Chairman Ki-Tae Lee and will lead the corporate technology operations. Ki-Tae Lee will lead the external relations operations at Samsung Electronics. Oh-Hyun Kwon, who has led the System LSI Division at Samsung Electronics’ semiconductor business, was named as the company’s new president of semiconductor business. Hyung-kyu Lim, who heads Samsung Advanced Institute of Technology, was put in charge to set up a new team devoted to developing new businesses. “The latest measure reflects the company’s determination to focus on developing future growth engine, and to find a new momentum to become a world leading company,” the company said in a statement. The newly appointed Vice Chairman & CEO Yoon-Woo Lee joined Samsung SDI in 1968 and since 1977 he started working for Samsung Electronics. He was the president of semiconductor business from 1996 to 2004, and was vice chairman of corporate CTO from 2005 to 2007.
ALJ CSP
Abdul Latif Jameel Community Services Programs (ALJ CSP) has launched the fourth course in “Restaurant Hospitality,” which is being attended by a group of young Saudi males who are prospecting a better future. The progam has been launched with the support of Human Resources Development Fund (HRDF) and in cooperation with Yousuf Naghi Training Center, which is part of Arabia Food Supplies Ltd. During the celebration organized to mark the launch of the course, Ahmed Al-Marhabi, training and employment specialist in ALJ CSP, said that the young Saudis who join the training course would receive a reward of SR2,000 from HRDF and Naghi, after which they will be employed at the Naghi’s Chilies/Fudrackers. Al-Marhabi stated that 13 young males who are graduates of secondary and intermediate schools are joining the course. He added that the Restaurant Hospitality program is well equipped and receives much attention from the management of Yousuf Naghi Center, which makes it one of the best ALJ CSP programs. Management of Yousuf Naghi Center are taking personal care of all details and extending support to the trainees.
