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All-Emirati crew claim commanding race win while Torrente, Al Qemzi,Al Tayer, Abbate secure title on Necko Lake

Team Abu Dhabi wrapped up their first major powerboat racing title of the season today as Shaun Torrente, Rashed Al Qemzi, Rashed Al Tayer and Italian Tullio Abbate clinched the World Endurance Championships in Augustów, Poland.

This time the honours on the day went to the all-Emirati crew of Majed Al Mansoori, Mohamed Al Mehairbi, Rashed Al Remeithi and Faleh Al Mansoori in Abu Dhabi 36 who recorded a commanding victory in the second of two back-to-back six-hour races to finish runners up in the series.

But sixth place was enough to ensure American Torrente, Emiratis Al Qemzi and Al Tayer and Italian Tullio in Abu Dhabi 35 secured the world endurance crown following their win 24 hours earlier and success two months ago in the 24 Hours of Rouen in France.

They had looked set to complete the series with a 100% winning record after leading comfortably for more than four hours today before being briefly forced out of the race to make technical modifications.

Having shadowed their team-mates in second place virtually from the start, Abu Dhabi 36 suddenly found themselves with a commanding lead and ultimately cruised to victory by 19 laps from the Navikart Soliodaires French crew of Sebastien Lemoine, Olivier Betin and Stephane Lemoine

Russians Konstantin Ustinov and Dimitry Vandyshev and Lithuania’s Edgaras Riabko in Nollet 2 were third another five laps behind.

While these are still early days in the season, the result in Poland underlines the prospect of four world powerboat racing titles ending up at Abu Dhabi International Marine Sports Club.

Ten-times former F1H20 world champion Guido Cappellini, who recently signed a new long-term contract to guide the fortunes of Team Abu Dhabi until 2025, certainly believes the quadruple is possible.

He has already seen reigning world champion Torrente set the pace in this year’s F1H20 series while Rashed Al Qemzi has taken an immediate lead in the UIM F2 championship.

From Poland Cappellini quickly switches focus to the UIM XCAT World Championship in which Torrente and Faleh Al Mansoori begin their title defence in Stresa, Italy next weekend.

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24 Hours of Rouen winners dominate first six-hour race on Necko Lake

 Team Abu Dhabi took a big step towards their first world powerboat racing title of the season today by dominating the opening leg of the Necko Endurance race in Augustów, Poland.

The combination of Shaun Torrente, Emiratis Rashed Al Qemzi and Rashed Al Tayer and Italian Tullio Abbate in Abu Dhabi 35 strengthened their grip on the World Endurance Championships with victory in the first of the weekend’s two back-to-back races.

The result puts them in a commanding position to secure the world endurance crown if they can avoid any mechanical failures or major mistakes in the second six-hour race getting under way at 11am local time tomorrow.

Meanwhile, a fourth place finish on the Necko Lake today means the all-Emirati crew of Majed Al Mansoori, Mohamed Al Mehairbi, Rashed Al Remeithi and Faleh Al Mansoori in Abu Dhabi 36 can take third overall in the championship with a similar performance tomorrow.

With reigning F1H2O world champion Torrente first in action, Abu Dhabi 35 took an immediate lead when the first race got under way as they looked to build on their impressive victory in the 24 Hours of Rouen in France two months ago.

Only briefly did they lose the advantage towards the half way point, firstly to the Navikart Soliodaires French crew of Sebastien Lemoine, Olivier Betin and Stephane Lemoine and then to
Russians Konstantin Ustinov and Dimitry Vandyshev and Lithuania’s Edgaras Riabko in Nollet 2.

At this point there was often as little as two seconds separating the leaders, but over the last two hours Abu Dhabi 35 gradually eased away to complete 294 laps by the finish, three more than Nollet 2 in second place and third-placed Navikart Soliodaires. Abu Dhabi 36 finished 276 laps in fourth position.

If Torrente, Al Qemzi Al Tayer and Abbate avoid problems tomorrow they will deliver the first of four world powerboat racing titles being targeted this season by Abu Dhabi International Marine Sports Club.

Torrente, who leads this season’s UIM F1H2O World Championship, heads straight from Poland to Stresa, Italy to begin his defence of the UIM XCAT World Championship with Faleh Al Mansoori. Meanwhile Rashed Al Qemzi tops the current F2 standings.

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Ericsson and Etisalat conduct 5G trial with outdoor mobility

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  • First 5G trial with outdoor mobility in the region
  • Latency less than half in comparison to 4G

Ericsson (NASDAQ: ERIC) and Etisalat successfully conducted a 5G trial with outdoor mobility today at Etisalat’s Head Office in Abu Dhabi, UAE.

The trial demonstrated 5G capabilities in a real world environment over a live network, including tests on speed, latency and beam steering. The 5G trial system is using 800MHz of spectrum in the 15GHz band, demonstrating over 20 times greater performance than what is currently used in 4G networks. The trial achieved aggregate site throughput of greater than 24Gbps, with a latency less than half of what is seen currently in 4G networks.

Saeed Al Zarouni, SVP/Mobile Network, Etisalat says: “Today’s live demonstration provides a glimpse into the future and what mobile services will be like in the next few years. Today, we conducted the first live 5G trial with Ericsson and the first 5G trial with outdoor mobility in the region. 5G enhances existing services with additional capacity, higher speeds and lower latency, while supporting a large number of machine-type connections.”

Petter Järtby, Head of Etisalat Global Customer Unit at Ericsson Region Middle East says: “Today’s trial is a key milestone of the extensive collaborative efforts between Etisalat and Ericsson to ensure the UAE is ready for 5G. This next generation of technology will enable organizations to move into new markets and build new revenue streams with radically new business models and use cases, including Internet of Things (IoT) applications.”

Today’s trial was a part of the first Ericsson and Etisalat Technology Summit. The event also included workshops and discussions where Ericsson presented its latest technology trends and demonstrations. The event’s sessions and demos touched upon different areas covering 5G, IoT, Network Functions Virtualization (NFV), Cloud and digital transformation.

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Dubai International Financial CentreLaunches Spring Update of 2017 International Monetary Fund Regional Economic Outlook

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  • Non-oil growth rates in GCC region expected to strengthen
  • Overall growth for MENAP region projected at 2.6%  

Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa and South Asia, today launched the Spring update of the 2017 Regional Economic Outlook (REO) for the Middle East, North Africa, Afghanistan and Pakistan (MENAP) region, in collaboration with the International Monetary Fund (IMF).

Arif Amiri, Chief Executive Officer of DIFC Authority, introduced the special report at a launch event that drew the who’s who of the financial industry. Produced by IMF, the exclusive report uses internationally verified data to highlight emerging trends as well as recent economic developments, opportunities and challenges that set the tone for growth, trade and investment in the region.

The latest edition of the MENAP Regional Economic Outlook found that regional growth is expected to remain at 2.6 per cent for 2017, rising to 3.4 per cent in 2018, compared to estimated global growth of 3.5 per cent and 3.6 per cent respectively. Higher commodity prices and stronger global trade will support economic activity, while higher interest rates will – to varying degrees – increase fiscal vulnerabilities across the region.

According to the report, growth in oil-exporting countries of the MENAP region will slow down in 2017 due to the oil production cuts approved under the terms of the recent OPEC+ agreement.

Mr. Amiri said: “The IMF Regional Economic Outlook is a trusted resource for business in the region and everyone involved in the financial sector. 2017 looks set to be defined regionally by a focus on economic diversification, privatisation and on the inclusion of emerging economies in the global financial system – trends which play to DIFC’s strengths and which we support through our enabling ecosystem, solid regulatory framework and strategic location at the heart of the South-South corridor. One of the strongest macroeconomic drivers, in fact, is the rise of emerging market economies. They are generating new investment opportunities and serve as an increasingly important source of capital”.

Jihad Azour, Director of the Middle East and Central Asia Department at IMF, said: “A more favorable global environment—including higher expected growth and some firming of commodity prices—is providing some breathing space for the MENAP region after what has been a difficult period. Non-oil growth for the MENAP oil exporters is expected to accelerate from 0.4 percent in 2016 to 2.9 percent in 2017, although the production cuts following the OPEC agreement are reducing headline growth. For the MENAP oil importers, headline growth is projected to increase from 3.7 percent in 2016 to 4 percent in 2017.”

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Etisalat Group Bids for Mobile License in Sultanate of Oman

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Etisalat Group today announced it has submitted a bid for the mobile license in the Sultanate of Oman.

The bid is in line with Etisalat Group’s expansion strategy considering the market potential and similarities, footprint proximity to its core market, and likely synergies.

The qualified bidders will be announced on 14 August, 2017 by Omani’s Telecommunications Regulatory Authority.

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Huawei’s OpenLab Dubai officially starts operation

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  • Aims to accelerate Middle East digital transformation with global partners

Huawei, a leading global ICT solutions provider, today announced the launch of its OpenLab Dubai, its first to serve customers and partners in the Middle East, and an important part of Huawei’s Global OpenLab program. Huawei plans to add seven new OpenLabs across the world in 2017, and in the next three years will invest US$ 200 million and nearly 1,000 people globally, bringing the total number of OpenLabs to 20 by the year 2019. OpenLab Dubai is committed to providing innovative solutions for IoT, cloud computing, large data, intelligent analysis, eLTE, converged communications and other new technologies to build public safety, smart city, oil and gas solutions, and has attracted YITU, Zenith, Walkbase, 7G , IOmniscient, Nedap, Richfit and more than 20 other partners.

With the “Platform + Ecosystem, accelerate the Middle East digital transformation of the industry”, OpenLab Dubai brings together partners and customers from around the world to discuss the importance of collaboration in the development of a local digital ecosystem.

At the launch ceremony, Mr. Fan Siyong, President of Public Sector, Huawei, said, “The digital transformation is causing disruption across every industry. Huawei has established OpenLabs across the world with the theme “platform + ecosystem”, and is committed to working with global multi-specialty and industry partners to build customer-centric, innovative industry solutions to promote digital transformation and promote ecosystem development through the creation of an ‘open, flexible and safe’ platform that fully supports the ecosystem. Huawei is committed to helping governments and enterprises in the Middle East to rely on new ICT technology and applications to maintain steady growth, achieve excellence and enhance the competitiveness of the ICT industry in the region. Huawei’s OpenLab Dubai was built based on local market demands, talents, and technologies, and will focus on cooperation between enterprises, services, partners and customers in Middle East.

“The special climate, resources, culture and industry in the Middle East pose different challenges compared to other regions,” said Xijiang Lin, Director of Middle East Solution Development Center, Huawei EBG. “OpenLab Dubai will aggregate the world’s best resources to meet local digital transformation needs, and continuously enhance the ICT platform capabilities and development of local ecosystems. OpenLab Dubai is focused on building capabilities to easily apply technical solutions in the actual network environment; developing competitive, commercially viable and industry-oriented solutions; empowering innovation capabilities, rapid response to market demand; achieving industrial chain value aggregation and a customer/partner/vendor win-win-win situation. OpenLab Dubai has been jointly launched with more than 30 solutions and over 20 partners in Public Safety, Smart city and Digital Oil & Gas.

OpenLab Dubai gives customers a hands-on experience of public safety, smart city, oil and gas solutions:

Public safety sector: Based on Huawei’s strong infrastructure of, wireless network, eLTE-LiTRA, cloud computing, large data technology integration, Dubai OpenLab is working with YITU, Zenith and other partners, for face and license plate recognition, population density analysis, public opinion analysis solutions, working towards creating a harmonious and safe social environment

Smart City: Huawei combines low-power, wide-coverage NB-IoT / eLTE-IoT, Smart Gateway, cloud computing and large data, working with Honeywell, Nedap, Johnson Controls, and other partners. Huawei is also working with Esri in data management to jointly build intelligent parking, intelligent buildings, smart meters, intelligent lights and many other smart solutions.

Oil and Gas: Huawei will combine 4G wireless broadband network eLTE with Honeywell and Emerson’s various oilfield sensing devices to provide digital field-wide connection solutions to solve real-time communication problems in oil fields, help oilfield visualization production, improve oil recovery and reduce security risks.

As part of Huawei’s commitment to innovation, OpenLab Dubai will be connected to Huawei’s global OpenLab network, to promote new business models, market demand and technical solutions for the exchange.

At the opening ceremony, eSri, Zenith, Honeywell shared their solutions in public safety, smart city and oil and gas sectors, and their involvement with Huawei’s OpenLab Dubai aiming for a successful digital transformation trend.

At the opening, Huawei also signed a strategic cooperation agreement with Zenith, Esri NeA and Smart IOT LLC. To establish long-term solutions partnerships, aimed at providing customers with industry-leading solutions.

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Vision 2030 “is already the Most Ambitious Financial Programme in the Region’s History” – The Euromoney Saudi Arabia Conference

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  • In partnership with Ministry of Finance, Major Conference Brings Bankers and Speakers from Around the World to Analyse Impact of Kingdom’s Plan for Development  

One year on from its launch, the Kingdom of Saudi Arabia’s Vision 2030 is already shaping up to be one of the most ambitious economic and social transformation programmes in the region’s history, according to experts attending the 12th Euromoney Saudi Arabia Conference in Riyadh today.

More than 1,600 pre-registered delegates attended the first day of the conference, which saw major presentations and interviews with senior ministers from the Kingdom, including H.E. Mr Mohammed Al-Jadaan, Minister of Finance, and CEOs and executives from some of the world’s largest banks.

In his opening comments, His Excellency Mohammed Al-Jadaan outlined the scale of the projects already in process as part of the National Transformation Program (NTP) 2020 and Vision 2030 strategy, and the ambitious goals being pursued.

The Kingdom’s programme aims to raise the private sector’s contribution from 40 percent to 65 percent of GDP, elevate the nation into the top 10 countries on the Global Competitiveness Index, increase foreign direct investment from 3.8 percent of 5.7 percent of GDP, and increase women’s participation in the workforce to 30 percent.

His Excellency Mohammed Al-Jadaan said: “In support of Vision 2030, the Government’s fiscal policies are enhancing financial stability and promoting economic growth across Saudi Arabia. By undertaking structural reforms, the Ministry of Finance aims to strengthen the fiscal framework, diversify revenue sources, support non-oil sector growth and achieve the highest levels of transparency, as we aim to create a stronger and more stable economy.”

Senior executives from Saudi Arabia’s financial sector also took part in on-stage interviews, with H.E. Mr Mohamed El-Kuwaiz, Vice Chairman, Capital Market Authority and Khalid Abdullah Al Hussan, Chief Executive Officer, Saudi Stock Exchange (Tadawul) both commenting on the impact of Vision 2030 to date, and the long-term plans in place to encourage greater national and international investment.

H.E. Dr Ahmed Abdulkarim Alkholifey, Governor, Saudi Arabian Monetary Agency, was interviewed on the Kingdom’s current monetary policy, and its long-term plans to deliver stability and support national goals.

Also representing the Kingdom on the first day of the Conference were Yousef Abdullah Al-Benyan, Vice Chairman and Chief Executive Officer, SABIC and Yasir Faisal Al-Sharif, Chief Executive Officer, Jabal Omar Development Company.

Providing international commentary were senior bankers, Daniel Pinto, Chief Executive Officer – Corporate and Investment Bank, J.P. Morgan and Matthieu Duncan, Chief Executive Officer, Natixis Asset Management.

Other sessions on the first day included panel discussions on the current position of the Saudi Economy, debt capital markets and financial technology sector.

Day Two of the Conference will see a special focus on the housing and real estate sector, opening with a keynote address by H.E. Mr Majed bin Abdullah Al-Hogail, Minister of Housing, Kingdom of Saudi Arabia.

The largest financial conference of its kind in the Kingdom, The Euromoney Saudi Arabia Conference continues to drive economic debate and essential insight for investors, banks and private equity groups around the world.

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Al-Futtaim Motors reiterates its environmental leadership in the UAE

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  • Sharjah Police tests Toyota’s zero-emission Fuel Cell technology and receives 127 new Toyota Vehicles

Al-Futtaim Motors, leader in sustainable mobility and exclusive distributor of Toyota in the UAE, has handed over 127 Toyota vehicles to Sharjah Police, cementing the long-term partnership between the two entities. Al-Futtaim Motors also supported Sharjah Police in their plans to drive the UAE Vision 2021’s sustainable environment initiatives, by test driving Toyota’s zero-emission Fuel Cell technology in the form of the hydrogen-powered Fuel Cell Toyota Mirai.

Unlike battery-powered electric vehicles, Mirai, a hydrogen-powered Fuel Cell Electric vehicle, is driven by an electric motor, but instead of being powered by a battery, it creates electricity through an onboard Fuel Cell stack, using oxygen from the air with the stored hydrogen to power the car, resulting in the release of water instead of CO2 as a byproduct.

The handover, which took place at the Sharjah Police Headquarters, was attended by Saud Abbasi, Managing Director of Toyota at Al-Futtaim Motors, Yousuf Al Raeesi, Director of Government Affairs &Health, Safety, Security and Environment at Al-Futtaim Motors, as well as Brigadier Saif Al Zari Al Shamsi, General Commander of Sharjah Police, Brigadier Abdullah Mubarak bin Amer, Deputy Commander-in-Chief of the Sharjah Police, Brigadier Arif Mohammed Al Sharif, Director General of Human Resources and Support Services Department, Colonel Ali Rahma Al Owais, Director of Support Services Department among other senior officials from both bodies.

“Al-Futtaim Motors has long enjoyed an excellent business relationship with Sharjah Police and today we are happy that we’re extending our partnership with the addition of a host of 127 Toyota vehicles to the Sharjah Police fleet. As the leading automotive distributor in the UAE, we pride ourselves on delivering not just Quality, Durability and Reliability, but also premium after sales services to our government partners,” said Abbasi.

He detailed the many advantages of Fuel Cell Electric Vehicles (FCEV) compared to battery-powered electric cars, mainly in relation to fuel economy and driving range, fueling time and environmental impact.

The 127 vehicles include the powerful Prado, the bold new Camry, the expectations challenging Corolla, the versatile Hiace and the rugged and dominant Land Cruiser Pickup.

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All-new 2017 F-150 Raptor Terrain Modes: Where We’re Going, We Don’t Need Roads

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The all-new Ford F-150 Raptor features six terrain modes designed to handle the most demanding terrains. From off-road rock crawling and desert running to on-road sport mode, Raptor is ready for any type of driving. Here’s a breakdown of each mode.

Normal For everyday on-road driving duties, normal mode is a perfect balance of excitement, comfort and convenience.
Sport Mountain passes are no longer just for Mustang, thanks to Raptor sport mode. For spirited on-road driving, sport mode increases throttle response and provides a sportier steering feel – along with quicker shifting. The transmission holds gears longer to keep you in the power band.
Weather When road conditions are less than ideal, weather mode inspires confidence without compromising driving pleasure. Weather mode automatically engages 4 Auto. AdvanceTrac, throttle response and the shift schedule are optimised for greater confidence in slippery conditions.
Mud/SandFor tackling trails and other off-road treks, the mud/sand setting is your best friend. 4 High and the electronic locking differential automatically engage for driving over loose or soft ground, and optimised AdvanceTrac settings help Raptor keep its footing. Steering is set to comfort, which makes it easier to navigate along tight trails and over obstacles.
BajaBaja mode is where Raptor eclipses the competition. Designed for high-speed desert running, Baja mode places the vehicle in 4 High, AdvanceTrac is programmed to the least intrusive settings, and the throttle map is adjusted for more linear power and improved engine response to give the hardcore off-road driver greater control. The transmission has quicker shifts and holds gears longer – keeping the vehicle in its power band.
Rock CrawlThis setting is for intense off-road driving and rock climbing at low speeds. Rock crawl prompts the driver to place the vehicle in 4 Low, the electronic locking differential is automatically engaged and AdvanceTrac is set to the least intrusive settings for optimum rock climbing ability. Throttle modulation and transmission response are optimised for greater control. Additionally, the front camera allows the driver to see what’s right in front of the truck, and it can be kept on at speeds up to 24 km/h.
Along with the individual AdvanceTrac settings tied to drive modes, Raptor continues the Ford Performance tradition of allowing the driver to programme the system’s settings to match conditions and skill level. The driver can reduce traction control but keep stability control on with a single press of the electronic stability control button; or, by holding the button for five seconds, the driver can turn AdvanceTrac settings off.

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Cayan Group Guarantees 8% ROI on Cayan Cantara Hotel Apartments by Rotana at ‘World Luxury Expo’ from 3 to 5 May, Ritz Carlton Hotel – Riyadh

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  • New luxurious developments in Riyadh and Dubai to be showcased at the exhibition

Leading Saudi real estate property developer Cayan Group will be exhibiting at the 5th World Luxury Expo that will be held in Saudi Arabia on May 3rd-5th, 2017 at the Ritz Carlton Hotel – Riyadh.

Cayan will introduce and exhibit some of their iconic developments that were recently launched in Saudi Arabia and the United Arab Emirates. The developer launched major projects in 2016 and earlier this year that target customers and investors on the lookout for attractive and lucrative investment opportunities.

Commenting on Cayan Group’s participation at the World Luxury Expo, Ahmed Alhatti, President and Chairman of Cayan Group said: “This expo is a great platform for us to showcase our broad portfolio of luxury properties to suit a range of preferences.  Discerning investors are seeking attractive and lucrative investment opportunities especially in Saudi Arabia and the UAE, since both countries have proven over time to be ripe markets for real-estate investments despite the past years’ economic challenges. The timing of this exhibition is a perfect opportunity for investors who are looking for unique special deals, which we are providing at this exhibition. Additionally, we will offer exclusive, luxury residential and hospitality units in the most attractive locations which are characterized by their strategic and economic significance adding unmatchable property investment value.”

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Dubai Land Department sponsors World Bank Land and Poverty Conference

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  • Dubai Land Department brings its successful experience in land registration systems to international forums

Dubai Land Department (DLD) participated in the last edition of the World Bank Land and Poverty Conference as a bronze sponsor of the event held in Washington DC.

DLD met with many international delegations and presented the department’s achievements, also participating in a range of panel discussions as a keynote speaker on real estate registration. In addition, the name and logo of the Government of Dubai and DLD were featured at all World Bank facilities and in the conference publications.

Sultan Al Akraf – Senior Director of the Real Estate Registration Department at DLD – commented: “Our participation in the conference aimed to lend DLD a distinguished presence on the international calendar of events related to real estate registration systems. It also aimed to present our successful experience on the global stage, as the World Bank Conference attracts delegates from all over the world who are keen to exchange their experiences given the importance of this area in urban development, the organisation of smart cities, and the promotion of sustainability.”

Al Akraf added: “We participated with a number of international experts in this field and focused on three key pillars: establishment of a committee to safeguard the owners’ rights, a central database with integrated systems, and a Dubai Real Estate Registration Model that offers transparency, quality and speed.”

He emphasised that the participating delegations provided the latest research and practices, shedding light on a diversity of reforms, interventions and innovations in the worldwide land sector. This year’s theme was on ‘Responsible Land Governance: Towards an Evidence-Based Approach’, focusing on the role of data and evidence for land policy reform, and identifying strategies for broad-based action and monitoring achievements.

Al Akraf headed a round table discussion on ‘Regular Governance Control Over Land through Administrative Data Sources’, which highlighted a diversity of themes addressed by a panel of experts.

The delegation met with the World Bank administration in the presence of the Director of the Conference, the representative of Europe, and the Director of the Registration Organisation. DLD’s team was selected to represent the Arab States, Asia and North Africa, to coordinate the collection of land registration data including land plots owned by individuals and non-governmental organisations. The delegation participated in the Arab States’ session as the official speaker on the challenges of land registration and the real estate sector in the Arab countries. It was agreed to hold a November conference in Dubai to host the Arab countries.

Al Akraf added that a team was formed between DLD and the World Bank in cooperation with the United Nations, to manage the event and define its agenda in addition to developing a specific website for the conference with sections for the agenda and registration.

DLD’s delegation met with representatives of the World Bank to present some of the improvements suggested by the department, which were all approved, such as obtaining information about property registrations, land site and size, and complaints systems relating to the registration of property, to name a few.

The conference has become one of the largest international events in the field of land management and this year’s edition attracted over 1,200 participants including government representatives, academics, civilians and the private sector.

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BravoSolution Tejari, a strategic procurement company, will take to the stage at the annual CIPS Middle East Conference 2017 to discuss how in tough times, smart companies invest in procurement.

Hosted by the Chartered Institute of Procurement & Supply (CIPS), the event will take place under the theme ‘procurement and supply: unlocking competitive advantage’ on Tuesday, 9 May in Abu Dhabi.

Dan Quinn, Senior Vice President at BravoSolution MENA / Tejari, will talk about how an economic slowdown presents an opportunity for companies to invest in strategic procurement solutions to bring down costs and drive growth. He will provide the audience with an overview of some key tools and techniques for identifying and unlocking value quickly.

According to BravoSolution Tejari, the single biggest cost for most businesses come from spend with third parties. By bringing down these costs through procurement, businesses will be able to increase (or replace missing) profits.

“As regional governments recognize the important need to diversify away from oil dependency, the event is an opportunity for companies to discover how it is possible to transform their businesses by unlocking the power of procurement,” said Dan Quinn, Senior Vice President at BravoSolution MENA / Tejari. “Our continued collaboration with CIPS helps to support Middle East companies in transforming conventional procurement into a strategic function.”

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