Nexus Sees Insurance Business Grow by 35% In 2010; Bahrain AGM Hears how Gulf’s Largest Independent Insurance Brokerage is looking to Further Growth across all Business in 2011

Manama, Bahrain - Nexus, the region’s largest independent insurance brokerage, has seen an average 35 percent year-on-year growth in life, savings and general insurance sales to date in 2010, proving that the mind-set of people in the region is becoming more responsive to saving and the need to insure their assets.

The impressive growth in the life and savings business was 33 percent year to date – complemented by a 42 percent growth in general insurance (GI) business, according to figures presented at the Annual General Meeting in Bahrain on December 9.

Deputy CEO of Nexus, Tarun Khanna, said: “Nexus is striding forward after a demanding 2009 when many companies succumbed to the credit crisis. We have seen strong growth in 2010 across all our businesses and I am very excited about 2011 which I anticipate is going to be a great year for Nexus.”

“We are more prepared, more knowledgeable, we have a greater talent base, and we are investing more than ever in training for our people; all of which will enhance the services we offer our clients,” he added.       

“The general insurance side of the business is up and proving very strong. We now have 310 financial consultants working across the GCC and 20 plus of the world’s top insurance providers on board, and we are looking to increase our presence within the GCC in the next few years,” Khanna told AGM delegates.      

In July Nexus was presented with the prestigious “Best Takaful Brokerage” award at the International Takaful Summit in London in global recognition of its professional service to clients requiring Sharia compliant products.

“Nexus is a very responsive and ethical organisation that cares about giving quality advice to all its clients. Winning the Takaful award is recognition that as a company we are ready, and able, to embrace all forms of financial and insurance services to provide our clients with exactly what they want, to fulfil their individual needs,” commented Khanna.

       

The AGM saw the launch of a new Platinum Club for the top twenty financial consultants within Nexus. These twenty top consultants became the founding members of the club in recognition of their outstanding professional performance. Nexus has offices in Dubai, Abu Dhabi, Doha, Bahrain and has plans for future expansion across the region in the coming year.

 About Nexus Group of Companies

Nexus is an exciting force in professional financial services. Our unique approach will help you and your family to accumulate and protect your wealth today and tomorrow.

At Nexus, our expertise and independence mean we are perfectly positioned to deliver the first-class service you deserve. As qualified professionals in wealth accumulation and protection, we are a company you can trust to understand your unique financial situation.

www.nexusadvice.com

Supporting SCAD’s Strategy with Smart Solutions Statistics Centre Abu Dhabi Signs a Partnership Agreement with SAS Middle East

Statistics Centre Abu Dhabi (SCAD) and SAS Middle East signed a partnership
agreement, under which SAS will provide analytical intelligence (AI) software
and services to SCAD for the collection, compilation, storage, analysis and
dissemination of accurate results by the Centre. The partnership supports the
further development of SCAD's IT strategy, which is one of the most important
initiatives of the Center. SAS solutions will assist SCAD to meet its mission
of releasing timely and accurate results of social, demographic, economic,
environmental, and cultural data.

The agreement was signed by H.E. Butti bin Ahmed Al Qubaisi, Director of
Statistics Centre - Abu Dhabi; and Mr Shukri Dabaghi, General Manager, SAS
Middle East, at SCAD's headquarters in Abu Dhabi, in the presence of senior
officials from both sides.

After the signing ceremony, H.E. Al Qubaisi emphasised that the Centre's desire
to achieve the highest levels of automation across the organisation, in order
to better serve SCAD's vision of supporting Abu Dhabi's development plans in
economic, social, environmental, and infrastructure areas by providing the latest
and most accurate databases based on the highest global statistical standards,
in order to meet the needs of decision makers, the business sectors, researchers
and the various other segments of society.

The partnership agreement includes the main license agreement, according to
which SAS has authorized its products of IT software for SCAD; and the Service
agreement, under which SAS will provide consultancy, services and technical
support on the software authorized by the company, referred to as ‘interactive
services’, in addition to technical implementation, design and engineering
services, also known as ‘preliminary services’.

Both sides also agreed that SAS will assign a co-director from its side to
work as a strategic consultant for software users at SCAD, providing the
so called ‘sharing service’, which includes regular meetings with SCAD's

administration team to help in formulating its strategies regarding the usage
of SAS's software in the Centre's current and future projects. The co-director
will also. Further, SAS will also train SCAD’s staff and transfer technological
knowledge skills, while the co-director will help in analyzing the work reports
of the Centre, recommend plans and provide periodic report about latest
developments and situations concerning work software and products at the
Centre.

SCAD is hopeful that this agreement will be of great benefit in terms of
developing a reliable statistical system in Abu Dhabi, underscoring SCAD's
strategic role in support of overall development across all sectors in the emirate.

SCAD is the authorized official body responsible for the collection, compilation,
storage, analysis and dissemination of official statistics, and the release of the
results of social, demographic, economic, environmental and cultural rights
questionnaires and research studies in Abu Dhabi.

The Centre reiterated its commitment to work in cooperation with local
government agencies in conducting statistical research in order to develop a
comprehensive statistical system for Abu Dhabi that would ensures the accuracy
and confidentiality of data, using mainly electronic methods in its transfer.

SCAD is keen to achieve improvements in the analysis of data, and in the data
collection mechanisms, as well as in recording the appropriate metadata of
any type of information that can help in the process of searching, interpreting
or processing of the data itself. This includes metadata in population statistics,
geographical coverage, sampling, classifications, standards, time references,
methodologies, questionnaires, backgrounds, scope of work beside others, in
line with the goals of Abu Dhabi Vision 2030.

About Statistical Center-Abu Dhabi (SCAD)

Statistics center-Abu Dhabi (SCAD) was established in 2008 in accordance
with Law No. (7), to develop and organize statistical work in the Emirate of Abu
Dhabi in particular and the United Arab Emirates in general. SCAD’s purpose is
to produce statistical information that is consistent with the emirate’s orientation
towards sustainable development and strategic plans under the supervision and
with full support of the Executive Council of the Emirate of Abu Dhabi.

Being the of the official statistical data collection agency in the Emirate of Abu
Dhabi, the center assumes the functions of preparing the statistical plans and
programs that serve the emirate’s wider development programs, conducting
statistical surveys across the emirate. SCAD is also responsible for the
collection, classification, storage, analysis and dissemination of official statistics
and the release of the results of social, demographic, economic, environmental
and cultural surveys.

The activities of the Center will encompass all areas relating to social conditions
in accordance with relevant international standards and ethics, such as
independence, professionalism, impartiality, objectivity, confidentiality, cost
effectiveness and quality of statistics.

Smart Grids Middle East 2010 Commences Today in Dubai

Dubai-UAE: 05 December, 2010 – Spintelligent, a division of Clarion Events, today inaugurates the annual edition of Smart Grids Middle East – a key forum for the region’s utility and power sector.

The Smart Grids Middle East 2010 conference has brought together over 200 senior executives - from the utility and power sectors, and from Government energy authorities.  

The event taking place at Dubai’s Shangri La Hotel from 5–7 December, 2010 has attracted over 20 utilities and 20 countries. The conference consists of panel discussions and presentations about the smart grid from three perspectives: technological, commercial, and regulatory.  

Inspired by the need to reduce carbon emissions, save money and improve customer service, the event will highlight intelligent technologies seeking to improve the efficiency, functionality and flexibility of the current power infrastructure.

His Excellency Saeed Mohammed Al Tayer, Managing Director & Chief Executive Officer, Dubai Electricity and Water Authority (DEWA), said: “We have already implemented a number of smart technology measures on our electricity networks such as using the latest SCADA systems, intelligent asset monitoring, control and automation. We have improved the distribution network efficiency by conversion of most of our 6.6 kV networks to more efficient 11 kV networks.

“We have succeeded in reducing substantially our electricity network losses and our unaccounted-for water through network rehabilitation and more optimal network design, engineering, maintenance and procurement. Additionally, on our SmartGrids journey, we have interconnected our electricity grid with neighbouring utilities.”

The conference features keynote speeches on topics of vital importance, including the smart metering revolution, by thought leaders and key players in the utilities and power sector from the Middle East, Europe and the USA. Discussions dwell on changes in the utilities and power industry, and how companies can benefit from this change.

In response to the growing green building and smart city concepts in the Middle East, the conference aims to introduce innovative methods and technologies for greener and more efficient future. The event offers delegates informative sessions on how to build a smart grid city, technologies for intelligent buildings, smart metering and automated metering infrastructure.

Alongside the conference, Metering International, the world’s foremost authority on smart metering will host an exclusive workshop by Dr. Howard Scott on Managing your Smart Meter/ AMI project.

Dr. Howard Scott, Managing Director, Cognyst International, said: “The Middle East is the ideal place to start an AMI or Smart Grid project.  The need to move utility plants to the next generation clearly exist. More importantly, the business case in the Middle East is probably more compelling than anywhere else in the world.  This workshop will address these and other related themes.”

Intelligent buildings and smart, connected cities form important components of the smart grid. According to Pike Research, approximately $200 billion will be spent on smart grid projects by the year 2015. The Smart Grid is a reality for nearly eight per cent of utilities in the world which have begun to implement smart grid projects, and an estimated 37 per cent that are conducting experiments and pilot studies into smart grid projects.

For the second consecutive year, the annual excellence awards will be presented to local industry leaders, utilities and projects that stand out in the region for their quality, innovativeness and efficient use of resources.

Smart Grids Middle East provides an arena where current and future leaders can network with utilities’ and government officials, and develop an understanding of how the smart grid will impact and revolutionise the utility sector in the Middle East region.

About Spintelligent

Spintelligent is part of Clarion Events, a global business-to-business event organizer with over 280 staff in offices in the UK, Netherlands, United States, South Africa, Brazil, UAE and Singapore. 

Spintelligent forms part of Clarion’s specialist energy and utilities portfolio which also includes Synergy and The Energy Exchange.  Spintelligent has established itself as the key strategic information provider to the global metering, meter-to-cash and customer-end technology sector, and as a specialist in African infrastructure development, with a focus on the power and mining sectors. 

For more than 13 years, Spintelligent has been building, sharing, connecting and thinking about the business sectors we serve.  Our industry leading media products – publications, online portals, conferences, exhibitions, industry reports – enable us to share knowledge and insights, build relationships and deliver real business value to our customers and stakeholders. 

Spintelligent is recognized for its print and electronic publications, with market-leading brands including Metering International, ESI Africa and Mining Review Africa. Its regular global events and exhibitions, as well as its critical business intelligence and integrated marketing services make it a leader in its field. The company’s highly skilled resources in management, marketing, research and production allow for unique products 

UAE agency triumphs at Middle East PR awards; Independent agency d’pr beats international agencies to the prestigious Agency of the Year title

Dubai, December 5, 2010: Representing a momentous success for home-grown Middle East communications services, regional public relations agency d’pr pulled off an historic victory at the Middle East Public Relations Association (MEPRA) Awards 2010, taking home four awards including the inaugural Agency of the Year crown.

The Dubai-based agency, which is only six-years-old, also scooped the ‘Young Communicator of the Year’ Award, the ‘CSR & Community Award’ for its Stay Alert, Stay Alive campaign for BMW, and the ‘Business to Business Award’ for its campaign surrounding the Gulf Education Supplies & Solutions show 2010.

d’pr Managing Director Camilla d’Abo said: “This is vindication of everything we’ve set out to achieve as an agency. We have consistently won and retained business due to our commitment to having a bespoke approach to each client and our passion for what we do. We maintain that our regional knowledge and insight coupled with exceptional levels of client servicing and a commitment to creative, bespoke strategies would achieve long term results, and this has proven to be the case.”

Independently established, run and managed, is something d’pr is hugely proud of. “Being ‘home-grown’ we believe leads to better insight and understanding of the unique operating conditions in this region. Not being able to leverage global associations to win business or bring in staff from other offices could be viewed as a disadvantage, but we’ve turned it into a positive. We are more flexible, less bureaucratic and more personalised. Ultimately we believe this allows us to deliver a better level of service and client results.”

Emirati PR Manager Jamal Al Mawed was named ‘Young Communicator of the Year’ for his outstanding work with clients such as BMW and National Bonds. Al Mawed has been with the agency for two years and in that time has demonstrated an outstanding attitude and aptitude as a champion for Middle East Arabic PR professionals, qualities that clearly impressed the MEPRA judges.

“Jamal is a perfect example of how our commitment to developing young Arab talent is paying dividends. What we’ve achieved this year is amazing, but just as importantly we are building a vibrant, dynamic team to ensure our future is even brighter,” said Camilla. “Ultimately it’s all about achieving measurable and relevant results for our clients and we believe the best way to guarantee that is by making sure we have a team comprising the most talented PR practitioners in the region.

The MEPRA Awards were decided by an independent panel of 21 judges chaired by Tim Harrison, Head of Communications for HSBC Middle East.

 

Chair of the judging panel, Tim Harrison commented: “The overall standard of the submissions was exceptional which made the process much more challenging and fulfilling. In the scoring process judges tended to favour campaigns with a high level of difficulty – sensitive or complex issues that needed careful handling – as well as those showing alignment with business goals. As ever, creativity and strong results were the key parameters for a successful campaign.”

Website: www.d-pr.ae

About d’pr

d’pr is a full service PR consultancy offering integrated communications solutions with its sister agency events specialist, d’events. The agency prides itself on delivering creative and innovative PR campaigns, providing strategic consultation on external public relations initiatives, and the implementation of regional media outreach activities.

The business serves a cross section of over 30 brands specialising in banking and finance, real estate, hospitality and retail. Specialist sector knowledge and a network of in-country partners guarantees in-depth, measurable communication campaigns throughout the MENA region.

About d’events

d’events was launched in Dubai in 2004 as a corporate events agency. The scope of services comprise brand and product launches, corporate hospitality, sports events and industry conferences.

In 2010 d’events has delivered over 50 events for brands including Nokia, Montblanc, HSBC, Daily Mail Group, Imperial Tobacco Group, Cartier, Rolls Royce and BMW.

Barclays appoints John Vitalo as CEO of IBIM for Middle East

London - Barclays PLC (“Barclays”) today announced the appointment of John Vitalo as Chief Executive Officer of Investment Banking and Investment Management (“IBIM”) for the Middle East. This new post will be in addition to his existing roles in Johannesburg as CEO of Absa Capital and his local responsibility in South Africa for Absa Wealth.

In his new IBIM role, John will be responsible for building out IBIM’s three businesses of Barclays Capital, Barclays Wealth and Barclays Global Investors in the region and report to Roger Jenkins, Executive Chairman of Barclays Investment Banking and Investment Management, Middle East.

The Middle East region offers substantial business opportunities for Barclays. Many of the largest sovereign funds are based in this region as well as high net worth individuals and leading world class companies. All these clients are looking for investment management, advisory, wealth creation, risk management and financing solutions which Barclays is in a unique position to provide.

“John has a proven track record of building businesses and deepening client relationships. His appointment will continue the growth of Barclays successful businesses in the Middle East for the benefit of our clients,” said Roger Jenkins, Executive Chairman of Barclays Investment Banking and Investment Management, Middle East.

For his Africa (including South Africa) investment banking responsibilities as CEO of Absa Capital, John will continue to report to Maria Ramos, CEO, Absa Group and Benoit de Vitry, Head of Global Markets-Trading, Europe and Head of Commodities and Emerging Markets at Barclays Capital. He will also report to Maria Ramos and Tom Kalaris, CEO, Barclays Wealth, for Absa Wealth. John will split his time between Johannesburg and Dubai.

This appointment highlights further the importance of Africa and the Middle East to Barclays, emphasising the importance the firm places on growing its businesses in these regions. Absa Capital is one of the leading investment banks in sub-Saharan Africa and its performance will continue to be an ongoing priority for John and Barclays Capital. The build out of Absa Wealth in South Africa will also be John’s priority.

“We are delighted John has been given additional responsibilities. This reflects the huge progress made by all the team at Absa Capital and the strength of its management team,” said Maria Ramos, CEO, Absa Group.

Emirates Forges Ahead With Increased Middle East Services

DUBAI, U.A.E., 12th May 2009 – The Middle East will once again get a boost from Emirates with the airline today announcing an additional 12 flights per week to major travel hubs in the region; bringing the airline's total number of weekly flights across the Middle East to 197.

Effective 1st July, the 12 additional flights will serve five major Middle East cities including; Kuwait, Amman, Damascus, Sanaa and Doha; and all additional flights will be serviced by the Airbus A330.

Ahmed Khoory, Emirates' Senior Vice President, Gulf, Middle East & Iran said: “The demand for services to these regional gateways has never been stronger. The Middle East is one of the only regions in the world expected to post passenger traffic growth in 2009 and this is reflected in our increased services.”

“The Middle East continues to be one of Emirates' most important markets. Connecting through Dubai, travellers from the region have direct, convenient access to nearly 100 destinations globally. These additional services will provide passengers with even greater choice when selecting their flight.”

Emirates will introduce two additional weekly flights to Kuwait, two additional weekly flights to Amman, three additional weekly flights to Damascus, four additional weekly flights to Doha and one additional flight to Sanaa, making it a daily service.

Khoory added: “With one of the largest fleets in the world, totalling 134 aircraft, Emirates has the capacity and the resources to connect the millions of people living in the Middle East with the rest of the world, comfortably and reliably. This is the third major increase in flights across the Middle East for Emirates this year and is testament to our resolve to offer travellers in the region the best possible connectivity.”

The additional flights bring the airline's total weekly operation to: 28 flights to Kuwait, 14 flights to Amman, 14 flights to Damascus, 32 flights to Doha and a daily flight to Sanaa.

Emirates has an extensive Middle East network and currently flies to 14 cities across the Middle East each week.

Further expanding its services globally, Emirates has this month commenced a daily service to San Francisco and Los Angeles. In addition to this, from June 1st the Emirates Airbus A380 will begin servicing Bangkok and Toronto and later in the year will service Seoul from December 1st. This month has also seen the commencement of a daily A380 service to Sydney and Auckland.

EMIRATES INCREASES FLIGHTS TO THREE KEY MIDDLE EASTERN HUBS

DUBAI, U.A.E, 29th March 2009: Reinforcing and strengthening the airline’s commitment to the Middle East, Emirates has today announced increased services to three of its key regional gateways including; Dammam, Beirut and Tehran.

Starting from the 1st May, Emirates will introduce two additional weekly flights to Dammam, three additional weekly flights to Beirut and an extra two weekly flights to Tehran, further reinforcing the airline’s extensive operations across the Middle East.

“The Middle East is one of the most active aviation markets in the world and an integral part of Emirates operations,” said Ahmed Khoory, Emirates' Senior Vice President Commercial Operations - Gulf Middle East & Iran. “The addition of these flights has been implemented in recognition of the increased demand for services across the Middle East and will provide much needed capacity on these perpetually busy routes.”

“The enhanced capacity will also offer excellent connections to Emirates extensive global network as well as provide extra flights for the thousands of expatriate residents who live and work in Dubai but whose family is still based in their home country.”

Recent statistics released by the International Air Transport Association (IATA) show that demand for services across the Middle East grew 3.1 per cent in January 2009 despite the global economic downturn, with Emirates well placed to capitalize on this growth.

The additional flights to Beirut, Dammam and Tehran marks the second significant increase in flights across the Middle East for Emirates - in February Emirates added capacity to Amman, Riyadh and Jeddah - bringing its weekly operation to: seven flights to Dammam, 17 flights to Beirut and 21 flights to Tehran.

The airline has an extensive Middle East network covering 14 cities with 180 flights per week. With the additional flights to Dammam, Beirut and Tehran starting May 2009, Emirates will serve the region with 187 flights per week.

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.”

CROWNE PLAZA LAUNCHES PERSONAL HOTELIER, AN EXCLUSIVE SERVICE FOR DISCERNING BUSINESS TRAVELLERS

Dubai, February 3, 2009 – InterContinental Hotels Group (IHG) has launched a brand new service, Personal Hotelier, across the Crowne Plaza estate throughout Middle East and Africa. Guests staying in Club rooms or on the Crowne Club floor can now enjoy the undivided attention of a hotelier dedicated to catering to their every need.

Crowne Plaza Personal Hotelier is an initiative that provides guests one point of contact, one face, one name and one telephone number to call prior to and during their stay at the hotel. This exclusive service is designed to alleviate the stress of corporate travel, allowing the guest more time and space to think, resulting in making their business trips more efficient and effective.

Commenting on the launch, Haitham Mattar, Director of Marketing Middle East and Africa, said, “Most of our guests are frequent business travellers. While they tend to enjoy travel, it can be exhausting and hectic so we decided to introduce a service to help them get the most of their time with us. “

From the moment a booking for a Club room is made, a member of the Personal Hotelier team will be assigned to the guest, contact them to introduce themselves and then offer them any assistance if required. A personal hotelier can help guests with everything for business needs, such as updating a presentation, printing documents, making reservations at a restaurant or spa and even personal shopping.

The pilot program, conducted at Crowne Plaza Dubai Festival City, received an overwhelmingly good response. Results from a survey* conducted amongst guests who participated in the program demonstrated that 95 per cent rated the service excellent with regards to its efficiency and usefulness.

The Personal Hotelier service is available to guest who book Club rooms or on the Crowne Club Floor at all Crowne Plaza properties across Middle East and Africa.

World Economic Forum highlights centrestage role of the Middle East in ‘Shaping the post-crisis world’

Dubai, UAE; February 2, 2009: The 39th Annual Meeting of the World Economic Forum in Davos-Klosters concluded its deliberations, today, highlighting the centrestage role that the Middle East region will play in ‘Shaping the Post-Crisis World.’

Nearly 100 government heads and business leaders from the Middle East region attended the five-day summit in Davos-Klosters, participating in panel discussions and generating healthy debates on topics as wide-ranging as Sovereign Wealth Fund management to sustainable development.

The deliberations and call for action taken up at Davos-Klosters will be further revisited at the World Economic Forum on the Middle East 2009 to be held from May 15 to 17 at the Dead Sea, Jordan under the theme ‘Home-grown Strategies for Global Success.’ The Middle East meet will focus on the role of the region in addressing critical global challenges ranging from systematic financial risk to resource management and political extremism.

Subsequently, government heads, business leaders and civil society leaders will meet in Dubai from November 20 to 22 for the 2009 Global Agenda Summit. Dubai is hosting the Global Agenda Summit for the second consecutive year. The event is essentially a closed door meet of 70 specialist councils of over 1,000 subject experts, who will brainstorm the major global challenges and provide recommendations to policy makers.

The Davos-Klosters meeting put forth several reports that serve as effective pointers for future policy-making. Attended by more than 2,500 participants from 96 countries including 41 heads of state or government and over 1,500 business leaders, the meeting’s primary focus was on the current financial crisis and the ways to stablise and relaunch the global economy. Global risks including climate change, food and water security, as well as peace and security in the Middle East were key topics of discussion.

In one of the landmark initiatives, the governments of Qatar, Singapore and Switzerland extended their patronage to the creation of the Global Cooperation Project, an unprecedented multi-stakeholder, multi-media dialogue to develop a 21st century vision of a wider global co-operation system.

“There is a serious deficit in global cooperation when compared to the wide range of pressing challenges such as climate change, energy security, food security, terrorism and proliferation of nuclear weapons. With new players emerging on the world stage and a continuing mismatch between 20th century institutions and 21st century challenges, the international system needs to intensify collaboration and develop innovative solutions,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

The report, ‘Green Investing: Towards a Clean Energy Infrastructure,’ presented at the meeting warns that unless at least US$515 billion per annum is invested in clean energy between now and 2030, carbon emissions will reach a level deemed unsustainable by scientists, causing temperatures to rise by two degrees globally.

Another stark warning was on water use with experts reiterating that “water is the nexus linking together a web of food, energy, climate, economic growth and human security.” A report released at the meeting states that many places in the world are on the verge of “water bankruptcy” following a series of regional water “bubbles” over the past 50 years that fuelled economic growth.

The meeting also highlighted the need to finish the long-stalled Doha Round of multilateral trade talks, with trade officials and academic experts, stating that it is “the single most valuable step global leaders can take to keep the current economic crisis from triggering a destructive protectionist backlash.”

Participants at the meeting will continue their discussions about the key issues on the global agenda in a new virtual network WELCOM (the World Economic Leaders Community), a social network exclusively reserved for the Partners and Members of the World Economic Forum.

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.”

HOLIDAY INN EXPRESS STRENGTHENS MIDDLE EAST PRESENCE

DUBAI, 24th January, 2009: InterContinental Hotels Group (IHG) and Ishraq Gulf Real Estate Holding Co. will further strengthen the Holiday Inn Express brand in the Gulf in 2009 with two new properties in the UAE and Bahrain.

Due to open in the summer in Dubai’s Al Garhoud district, Holiday Inn Express Dubai Airport will offer 381 rooms. It will be the fourth Holiday Inn Express in the Emirate.

Holiday Inn Express Manama will be the brand’s first venture in the Middle East outside Dubai. The 249-room property is expected to open in the third quarter of 2010.

IHG & Ishraq sees healthy demand for limited service hotels as high real estate prices and growing competition for travellers encourage the region’s hospitality sector to diversify. The third Holiday Inn Express hotel – the Holiday Inn Express Dubai Jumeirah – opened last September.

John Bamsey, Chief Operating Officer, IHG, Middle East and Africa (MEA), said: “Delivering on our promise of Great Hotels Guests Love is about offering a diversity of choice to meet different customer expectations. Holiday Inn Express brings reliability and quality to the limited service sector – and the confidence that comes with one of world’s best-known hotel names, Holiday Inn.”

Bamsey said: “Globally, Holiday Inn Express is one of the fastest growing brands, opening an average of two hotels a week, with 1889 hotels and a further 728 hotels in the pipeline, worldwide. We see great potential for the chain in the Middle East.”


Both Holiday Inn Express properties will be operated by Ishraq Hospitality Management, a subsidiary of Ishraq Gulf Real Estate Holding Co., the exclusive developer of Holiday Inn Express hotels in the GCC, excluding Saudi Arabia.

Sami Al Ansari, Chief Executive Officer, Ishraq Gulf Real Estate Holding BSC, said: “We’re confident Holiday Inn Express Airport Dubai will continue the successful trend started by our three other properties in Dubai – and we’re excited by the opportunities in Bahrain.

“We’re fully committed to developing more than 20 Holiday Inn Express properties over the next five years in the region.”

IHG announced in 2007 the worldwide relaunch of the Holiday Inn brand family (comprising Holiday Inn Hotels and Resorts, Holiday Inn Express and Express by Holiday Inn). The US$1 billion relaunch is bringing improved consistency and service levels, as well as a more contemporary brand image and identity, to almost 3,200 hotels worldwide. The global relaunch is expected to be completed by the end of 2010.

Dubai tops ‘Middle East Cities of the Future’ ranking by fDi magazine

Dubai, January 21, 2009: Dubai is top of the league in the Middle East Cities of the Future ranking by fDi magazine, scoring highest points for economic potential, business friendliness, infrastructure and quality of life. Dubai scored 471 amongst 20 cities in the region evaluated, with Jeddah, Abu Dhabi, Manama, Riyadh and Ras Al Khaimah in the next five places, respectively.

Produced by the Financial Times group, fDi is the premier publication for the business of globalisation, and is regarded as the single most trusted source of information for companies involved with international expansion.

The Middle East Cities of the Future were ranked according to 76 criteria listed under Economic Potential, Business Friendliness, Tax & Other Costs, Human Resources, Quality of Life, Infrastructure and Foreign Direct Investment. Dubai ranked highest in four of these categories.

HE Mr Sami Al Qamzi, Director-General of the Dubai Department of Economic Development (DED), said: “The top score of Dubai in the Middle East Cities of the Future ranking is a testimony to the concerted approach of DED, under the guidance and leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to create a high-growth environment and boost the economy by implementing strategies to attract foreign investment to the emirate. The result for Dubai is based on an evaluation of 76 parameters that, in essence, cover the entire aspects of the economy.”

He added: “One of the focal areas of DED is to create a robust and business friendly destination with utmost ease in setting up and managing businesses. The success of our approach has been reiterated by the high scores achieved in the fDi ranking. DED‘s foreign investment office headed by Mr Fahad Al Gergawi is dedicated to attracting regional & international foreign investment in Dubai, and one of the key objectives is to develop closer co-operation with key international investment partners.”

Mr Al Gergawi said: "This top-ranking highlights the opportunities that exist in Dubai for investors when evaluating the potential for international expansion. Dubai is very investor-friendly and enjoys a strategic location. The recognition as a leading destination by fDi magazine reinforces our commitment to ensure that our international partners realise and experience the competitive advantages offered by the Emirate.”

The Economic Potential category, in which Dubai topped the list, evaluated parameters such as 2009 GDP growth forecast, National GDP, economic initiatives, inflation, cash surplus, high-tech exports, industrial production growth and growth of urban population. “Winning this award and ranking high in many of the categories reflect Dubai's success in diversifying our economy, and the potential for growth that the Emirate offers despite the challenges that the state of the global economy brings at this point in time,” explained Mr Al Qamzi.