Mirabaud guides investors through minefields; says US$75 oil price is high enough

Dubai, March 1, 2009: At a time of extreme turbulence and dislocation, with conventional investment criteria upside-down, opportunities abound. Mirabaud & Cie, banquiers privés, the 190-year-old private Swiss bankers, joined forces with Lloyd George Management, the Far Eastern investment manager, to guide investors through the minefields that currently surround us all at an investment seminar in Muscat, Oman, today (March 1, 2009).

Mirabaud’s Head of Energy Research, Richard Savage, presented his views, honed over 20 years of experience in the oil industry and oil markets, on the outlook for the oil price going forward. The crude oil price has tumbled from an intra-day high of more than US$147 a barrel last July to less than US$45 a barrel today, as fears of supply shortages have given way to concerns over dwindling demand.

Savage feels, however, that the real driver of the oil price rally was not the intricacies of the supply-demand balance, but instead the same surfeit of liquidity that drove other asset classes to unsustainable highs; the withdrawal of that liquidity leading to the dramatic collapse.

In his view, “the market is once again being driven by fundamentals, and with inventories at near record levels and OPEC sitting on 5 million barrels of spare capacity, we do not expect a recovery anytime soon. In addition, once the price does rally, we do not see a return to a US$100+ per barrel world. We believe a US$75 per barrel oil price is high enough to incentivise all but the most expensive producers; it is high enough to encourage investment in alternative energy sources; and it is high enough to put a break on the explosive demand growth that was the catalyst for the last oil price rally.”

Other subjects raised at the conference included investment opportunities in Asia, delivered by the renowned Asian investor Robert Lloyd George, as well as the Fixed Interest and Currency markets discussed by representatives of co-sponsors Eaton Vance and Sal Oppenheim, respectively.

The keynote speaker was Dr. Marc Faber, Editor and Publisher of “The Gloom, Boom and Doom Report,” renowned for both his firm opinions and entertaining delivery.

“It is at times such as these that the experience and conservatism that comes from one of the most well established private Swiss banks stands the investor in good stead,” said Gilles Rollet, Chief Executive Officer, Mirabaud (Midddle East) Ltd. “Guided by the incisive views of these highly regarded market participants, we feel certain the seminar helped delegates see more clearly through the opaque nature of markets currently prevailing.”

The Private Equity International Middle East Forum: Dubai 2009

London/Dubai, February 24, 2009: The Private Equity International Middle East Forum: Dubai 2009 will take place from March 10-11, 2009, at the Madinat Jumeirah Hotel in Dubai, the event organisers announced today.

Nassef Sawiris, CEO of Orascom Construction Industries, said: “Private capital allows for a very dynamic and fluid management structure where people can grow quickly and shine. Backing smart people with patient capital is the best way to secure the future of the region.”

His contribution to the dialogue underlines the increasing influence and importance of private equity’s role in the Middle East, which leading figures from the regional and international financial world will discuss in detail at the forum.

Participants include: H.E. Shaukat Aziz, the former Prime Minister of Pakistan, Dr Mahmoud Mohieldin, the current Minister of Investment of Egypt, H.E. Dr. Omar Bin Sulaiman, Governor of the Dubai International Financial Centre, and Paul Koster, new Chief Executive of the Dubai Financial Services Authority.

Delegates will also have the opportunity to interact with their senior peers at a series of high-profile regional networking lunches at the event, designed to facilitate interaction, brainstorming and ongoing business development.

Private Equity International has consulted widely to develop a programme that moves the event beyond the traditional trade gathering in order to give participants the means to better understand how the asset class will be evolving – and how best they can be part of that evolution.

David Hawkins, Co-Founder of Private Equity International, said: “In these challenging times senior people want to be able to exchange views and opinions about the things that really matter to them and their business. PEI’s Middle East Forum has always been at the heart of the regional private equity community and even in these difficult times, we have been heartened by the level of interest and support shown by senior level professionals to the event.”

NASDAQ Dubai and The Options Industry Council Sign Licensing Agreement to Promote Middle East Investor Education

Dubai and Chicago, January 29, 2009 - NASDAQ Dubai and The Options Industry Council (OIC), a world leader in equity options education, have signed a licensing agreement to develop an equity options education program for Middle East investors and financial advisors.

NASDAQ Dubai, the international stock exchange serving the Middle East, will tailor content provided by Chicago-based OIC to deliver a comprehensive education program. This will include seminars run by NASDAQ Dubai Academy explaining equity options for institutional and individual investors, as well as brokers.

Options are derivatives that are used around the world to hedge risk. In 2008, 3.58 billion options contracts were traded on exchanges in the U.S. NASDAQ Dubai is working to list equity options in 2009 (subject to regulatory approval), following the launch of its equity futures market in November 2008.

Jeff Singer, Chief Executive of NASDAQ Dubai, said: "Supported by the internationally recognized expertise and training materials of the OIC, NASDAQ Dubai aims to play a key role in delivering information about the opportunities offered by equity options trading. Options traded on-exchange have the potential to become a major asset class in the region as investors seek to insure against risk.”

“OIC has experienced continued worldwide investor interest in the U.S. equity options markets, and the use of this versatile investment tool, generally,” said Gina McFadden, OIC President. “Working with NASDAQ Dubai to bring options education to the Middle East is a natural extension of OIC’s mission to inform investors and their financial advisors about the benefits and risks of equity options.”

Middle East Investor Relations Society signs MoU with UK counterpart

Dubai, January 24, 2009: The Middle East Investor Relations Society (ME-IR Society), a non-profit organisation dedicated to promoting and developing the investor relations profession, announced today that it has signed a Memorandum of Understanding with the IR Society of the UK.

Under the terms of the agreement, ME-IR Society and the IR Society of the UK will extend mutual cooperation to benefit members of both societies. Members will be able to explore speaking opportunities, participate in networking events, attend professional development programmes and webinars, as well as access educational materials produced by both societies.

The MoU was signed recently by Michael Chojnacki, co-founder of the ME-IR Society, and Michael Mitchell, General Manager of the IR Society of the UK, during a ceremony held in London.

“We are extremely pleased to announce this agreement with the IR Society of the UK, a champion of professional standards within the IR community for over 25 years,” said Chojnacki. “The ME-IR Society was established last year to support the development and practice of IR across the region, and encourage the development of international best practices standards. This partnership reinforces this commitment to enhance IR standards in the region.

“We are confident that, through this agreement, members will benefit immensely from the initiatives undertaken by both societies to promote cross-border learning.”

Mitchell said: “We are delighted to be working in association with the Middle East Investor Relations Society. The Investor Relations Society of the UK hopes that we will be able to assist our Middle Eastern counterpart organisation in encouraging the development and understanding of best practice investor relations in the region. We recognise the Middle East is an increasingly important and sophisticated economic and business environment and with increasing diversification of industry, it is paramount that excellent investor engagement and communications becomes standard throughout. We applaud the ME-IR Society in acting as a vanguard for this task.”