On the sidelines of the UN Climate Action Summit in New York,His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Climate Change and Environment, announced that the UAE will pass a federal law on climate that sets out … Keep Reading
- 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.Email This Post
- 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.Email This Post
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.
- 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.”
- 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.Email This Post
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.”Email This Post
- Middle East M&A benefits from US investment in Industrials & Chemicals sector
- Two major deals led M&A deal value to reach eight year high of US$ 5.5 billion
- Overall Q1 2017 deal value increased 61.8% compared to Q4 2016
Mergermarket, the leading provider of M&A data and intelligence, has published its Q1 2017 M&A Brief for the Middle East. The report shows that the Middle East has benefitted from foreign and domestic investment in Industrials & Chemicals, with the sector driving first quarter M&A to reach its highest value in eight years (16 deals, worth US$ 5.5 billion), increasing 61.8% compared to the final quarter of 2016 (19 deals totalling US$ 3.4 billion). Mergermarket’s MENA Mergers 2017 forum will take place in Dubai on 8th May.
Record value was driven by two sizeable deals of over US$ 1 billion, including US-based Tronox Limited making a US$ 2.2 billion acquisition of Saudi Arabia’s National Titanium Dioxide Company, accounting for 40% of total regional M&A value. As a consequence, the Industrials & Chemicals sector was the most targeted, representing 55% of total Middle East deals, with total value hitting US$ 3 billion across just three transactions. The second largest deal of the quarter was the US$ 1.1 billion acquisition of a 19.83% stake in Arab Bank Group (Jordan) from Saudi Oger Limited, by a group of investors led by Sabih El-Masry.
Ruth McKee Al Ghamdi, Head of Mergermarket MENA, commented:“Amid an era of low oil prices and falling company revenues, MENA M&A is expected to be driven by businesses looking to reduce costs and increase revenue from greater market shares. Most deals are expected to be mid-cap in size with most activity likely to be in UAE, Saudi Arabia and Egypt. There is also an increasing buyout appetite for the technology sector, and this will only have been bolstered by the recent US$ 650 million acquisition of the UAE’s Souq.com by Amazon.com.”
Borys Dackiw, Co-Managing Partner and Head of UAE Corporate/M&A Practice, at Baker McKenzie Habib Al Mulla, commented:”It’s encouraging to see that despite sustained political turbulence, dealmakers in the region have remained resolute. The Middle East has fared well for both domestic and cross-border deal flow, as seen in Baker McKenzie’s recent Cross-Border M&A Index Report, reflecting a positive outcome for M&A activity in the region for the first quarter of 2017. With continual GDP growth predicted in key Middle Eastern countries, we expect to see more overseas investors looking at their options in the region.”
Phil Gandier, Transaction Advisory Services Leader at EY MENA, said:“The M&A pipeline for full year 2017 continues to be strong in spite of market uncertainty and low oil price headwinds. We believe this is an opportune time for industry shaping transformational deals. Amazon’s acquisition of Souq and Tronox’s acquisition of the titanium dioxide business of Cristal are good examples of the type of transformational deals we will see in 2017. Inbound investment and sector consolidation will be the key drivers for MENA M&A.”Email This Post
- Cisco executives and industry experts highlight what it takes to drive sustainable growth in the Digital Era; underscore the need to ‘disrupt to win’
- 1700 delegates attend insightful keynotes and specialized breakout sessions, experience extensive array of solution demos that bring digitization to life
Cisco Connect UAE 2017, the company’s flagship IT and thought leadership event, provided a platform to experience the technology’s leaders latest solutions and gain insights into the latest trends and thinking about digitization. Held at the Atlantis the Palm Hotel in Dubai, the event brought together over 1,700 delegates across Cisco’s customer and partner organizations to network and discuss the huge potential and opportunities the digital era brings to the success of businesses and organizations in the UAE.
Themed ‘Your Time is Now’, the two-day event explored the fundamental positive changes that digital disruption can bring to a company’s value proposition, and its resulting market position, and how the impact is being felt across industries. A theme that recurred throughout the event’s activities was that in today’s digital era, only those organizations willing to transform themselves into a digital business will survive.
Speaking at the event, Shukri Eid, Managing Director – East region, Cisco Middle East said, “In the digital era, new rules will need to be applied while many old rules will need to be disregarded, if organizations are to benefit from accelerated rate of transformational innovation that the world is experiencing. We are continuously seeing new business models being introduced and new industries evolving, which must spur a drastic rethink of how we serve the different industries and what value we bring to our customers and society at large.”
A study by the Global Center for Digital Business Transformation, a joint initiative of Cisco and IMD, reveals that roughly four of today’s top 10 incumbents – in terms of market share – across multiple industries will be displaced by digital disruption in the next five years. To flourish in the Age of Digitization organizations were urged to build their digital operating models with security as the foundation so as to benefit from agility, innovation and growth in today’s digital economy.
Speaking at the C-level executive dinner on the eve of Cisco Connect UAE’s opening, Mike Weston, Vice President, Cisco Middle East, said: “We are fortunate enough to live in a country with a progressive vision which places itself at the forefront of the digitization drive. As the second most tech savvy government globally, the UAE is well positioned to reap the benefits of emerging technologies and capitalize on the opportunities presented by digital transformation. This context presents us with immense opportunities, and responsibilities, as leaders. Not only must the vision for our organizations harmonize with the UAE’s digitization drive – it must also encourage and advance it.”
Shukri Eid opened the event with a strong message ‘disrupt or be disrupted,’ urging UAE businesses to embrace digital disruption for success. He also highlighted Cisco’s commitment to partnering with customers and partners to support them on their digitization journey. Guy Diedrich, Cisco’s Global Innovation Officer, warned that disruption waits for no one and that complacent leaders will get run over in the digital age if they do not act fast to innovate and become agile. Andre Laurent, Worldwide Director of Engineering for Enterprise Networking Sales at Cisco spoke on ‘Network as a Platform for Digital Transformation’.
Hosted by Cisco and sponsoring partners, the event included an executive panel discussion of distinguished government IT leaders and over 75 demos at the World of Solutions, an interactive exhibition area that incorporated the latest solutions from Cisco and its channel partners. It also featured 30 dedicated breakout sessions by Cisco specialists on key technology frameworks including data center and cloud, enterprise networking, security, collaboration and digital industries.
Younus Al Nasser, Assistant Director General of the Smart Dubai Office spoke on Smart Dubai’s initiatives towards becoming the happiest city in the world and the city’s ambition to achieve a happy life for the citizens and residents of Dubai. Ferhad Patel, Intel’s DCG EMEA Sales Director spoke on ‘Vortex of Change’. Additionally, an executive panel of distinguished guests from the Dubai Electronic Security Centre, Telecommunications Regulatory Authority (TRA), Department of Tourism and Commerce Marketing (DTCM) and Expo 2020 discussed the importance of digitization, innovation and security in powering the future.Email This Post
- New NIDO ONE PLUS ORGANIC now available in stores across the UAE
Nestlé launched today its first ever organic growing up milk in the UAE, NIDO ONE PLUS Organic within its much loved growing up milk range. The new product, exclusively made from Swiss organic certified farms, is a high quality organic growing up milk that allows moms to nurture their children and support their growth.
NIDO ONE PLUS Organic powdered milk is created with a child’s health, nutrition and development at the heart. Each serving is tailored to provide toddlers aged between 1 and 3 years with the high-quality ingredients they need as they grow. It is fortified with immunonutrients vitamins A, C and D, iron, selenium and zinc to help the normal function of a child’s immune system, and natural fibres to support their digestive system
Sophia Jalal, Business Executive Officer of Nestlé Infant Nutrition in the Middle East said: “At Nestlé, we know how important it is for moms to establish a healthy eating routine for their kids at a young age and to provide them with the best of nature. By raising their children on organic food, with high quality ingredients, moms will not only support their child’s healthy growth, development, and immune system, but also help preserve the environment during the pivotal stages of growth. These are the core values and standards behind Nestlé NIDO ONE PLUS Organic.”
NIDO ONE PLUS Organic is made using milk sourced predominantly from the Emmental region of Switzerland. The cows are nurtured and cared for by organically certified farmers, in land supported by the Swiss government. They are almost entirely grass-fed, grazing the fields in the foothills of the Alps in the summer and moving to large barns for the winter months.
The organic journey starts with the Swiss farmers that are the trusted experts; many of their families have been farming for generations, so they are able to combine age-old traditions with today’s science – to ensure every child receives quality organic milk. Nestlé supports the farmers that make sure the cows live healthy and happy lifestyles to produce high quality organic milk – just the way nature intended.
Thomas Saurer, Compliance Manager and Expert in Organic Dairy Production at Nestlé Factory in Switzerland (Konolfingen) said “Nestlé incorporates Swiss precision into every step of the production process from cow to cup. Its specialised and state of the art factory is organically certified as per Swiss Organic Certification standards and features an original and precise production line to produce high quality organic growing up milk. Every step of the process is designed to ensure quality, so that every child is provided with the protection and nutrition they deserve.”Email This Post
- Dubai Police tests zero-emissions Toyota Mirai and welcomes its first Lexus ES hybrid to the fleet
Al-Futtaim Motors, exclusive distributor of Toyota, Lexus, Hino and Toyota Material Handling Equipment and leader in sustainable mobility in the UAE, have joined Dubai Police in reinforcing both organizations’ support for 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.
Al-Futtaim Motors also handed over the first Lexus ES 350 hybrid, which will help Dubai Police spread awareness of greener transport solutions, while aiding its efforts in more sustainable mobility.
Major General Abdullah Khalifa Al Merri, Commander-in-Chief of Dubai Police, said: “The introduction of environmentally friendly vehicles into our patrol fleet is important as the Force aims to adopt more sustainable energy sources, including renewable energy, as well as reducing carbon emissions that are harmful to the environment.”
“The General HQ has developed many initiatives to protect natural environments, such as the planting of mangrove trees in the Ras Al Khor area, which has become a globally recognized nature reserve, as well as many initiatives to combat air pollution by reducing traffic congestion and introducing regulations for the maintenance of vehicles to reduce harmful emissions.”Email This Post