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AL QEMZI TIGHTENS GRIP ON F2 TITLE RACE

It’s still step by step for Team Abu Dhabi driver after extending his championship lead in Norway

Team Abu Dhabi’s Rashed Al Qemzi has put himself in a powerful position to claim the UIM F2 World Championship for the second time in three years after a composed performance as some of his rivals faltered in the Grand Prix of Norway.

While Germany’s Stefan Hagin took the honours with his first F2 victory, the major outcome from a dramatic Tønsberg race weekend is that Al Qemzi has increased his championship lead from five to 14 points and carries great momentum forward to Italy later this month.

The third round of the series in Brindisi on August 24-25 is followed by the Grand Prix of Portugal in Ribadouro on September 14-15, and on current form Al Qemzi could have the F2 world title wrapped up before the final round on home waters in Abu Dhabi on December 6-7.

There will be no diversion, however, from Team Abu Dhabi’s methodical approach to Grand Prix competition, which is not only to take races one at a time but also to focus step by step on all the elements making up each individual championship weekend.

“The team works hard and prepares hard for every race,” said Al Qemzi. “When we arrived in Norway our aim was to be at the highest level in everything we did, and it’s the same with every Grand Prix. We work as a team to get the best results one step at a time.”

Al Qemzi’s championship position was strengthened in Tønsberg by the disqualification of two of his main rivals, Sweden’s Daniel Segenmark and Norway’s Tobias Munthe-Kaas, for infringements after missing turn marks.

Team Abu Dhabi initially had both drivers on the podium in Tønsberg after Rashed Al Tayer, who had qualified in seventh place, rose to third at the finish.

This followed his strong performance in winning the traditional Speed Run which launched race activities in Tønsberg, but disappointingly Al Tayer later dropped to fifth after being penalised for a lane infringement at the start.

Al Qemzi, the first round winner in Lithuania, secured his second successive pole position in impressive style but then had his own problems at the start of the Grand Prix as his engine spluttered, briefly dropping him behind most of the other 17 boats. But by the end of the first lap he had climbed to second position and over the next 44 laps made sure Hagin had to fight all the way to secure his maiden victory.

Grand Prix of Norway leading positions

  1. Stefan Hagin (GER) 00:36:27:43
  2. Rashed Al Qemzi (UAE) 00:36:28:74
  3. Duarte Benavente (POR) 00:37:00:33
  4. Ferdinand Zandbergen (NL) 00:37:09:71
  5. Rashed Al Tayer (UAE) 00:36:57:99
  6. Héctor Sanz (SPA) 00:36:37:61

UIM F2 World Championship standings

  1. Rashed Al Qemzi (UAE) 35pts
  2. Ferdinand Zandbergen (NL)            21pts
  3. Stefan Hagin (GER)                        20pts
  4. Duarte Benavente (POR)            16pts
  5. Daniel Segenmark (SWE)                        15pts
  6. Brent Dillard (USA) 9pts
  7. Owen Jelf (GB)                         8pts
  8. Rashed Al Tayer (UAE)                         7pts
  9. Ola Pettersson (SWE)                        7pts
  10. Héctor Sanz (SPA) 5pts
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TEAM ABU DHABI’S AL QEMZI  EXTENDS LEAD IN F2 WORLD TITLE RACE

Hagin wins Grand Prix of Norway but second place boosts Emirati’s championship bid as team-mate Al Tayer joins him on podium

Team Abu Dhabi’s Rashed Al Qemzi extended his lead in the 2019 UIM F2 World Championship with a second place finish in today’s Grand Prix of Norway which brought a first series victory for German Stefan Hagin.

The result gives Al Qemzi a 13-point advantage in the race for the F2 title which he won in 2017, and he was joined on the podium by Abu Dhabi team-mate Rashed Al Tayer thanks to a battling performance to finish third in Tønsberg.

After his opening round victory in Lithuania and his second successive pole position, Al Qemzi had high hopes of another win, although he will be content to have grown his lead from
Sweden’s Daniel Segenmark who finished fifth in Norway.

Al Qemzi’s victory hopes might have been over even before a lap had been completed as an apparent mechanical issue left him struggling to leave the start, with the majority of the other 17 boats surging away from him.

But the Emirati driver made a superb recovery, rapidly climbing to second behind Hagin on the first lap and he was piling the pressure on the German when American Brent Dillard crashed to bring a yellow flag on lap 14.

Dillard’s exit saw Al Tayer, who had started in seventh place, move into third, and after the restart, despite Al Qemzi’s efforts to catch Hagin, the top three remain unchanged all the way to the finish.

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EZDAN PLACES US$ 500 MILLION SUKUK

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  • Investor demand in total reaching to c. US$ 1.2 billion, about 2.4 times of the offered amount.
  • Sukuk has a maturity of 5 years and will pay a fixed coupon of 4.875% per annum.

Ezdan Holding Group Q.P.S.C. priced its 2nd Sukuk transaction, under its US$ 2bn Sukuk EMTN Programme established in 2016. The successful US$ 500 million 5 year Sukuk was priced on 29th March 2017, and  attracted an order-book of more than US$ 1.2 billion, with 129 investors from around 30 countries participating.

Commenting on the deal, Mr. Ali Mohammed Al Obaidli, Group CEO of Ezdan Holding said, “We are very pleased at the excellent market reception to Ezdan’s second Sukuk issue. The strong demand for the Company’s second Sukuk is a clear sign of support for the economic fundamentals of Qatar as well as a testament to the continuous sponsorship to Ezdan’s credit from regional and international investors. Investors’ strong interest resulted in the order book being 2.4 times oversubscribed, reaching  c. US$ 1.2 billion, more than the over subscription amount in Ezdan’s inaugural transaction.. We consider debt capital markets as a key source of funding that will enable us to maintain a diversified and balanced suite of financing instruments for Ezdan’s continued growth

Investors from the Middle East took 58% of the issuance, with European investors subscribing for 28% and Asian and other investors taking 14%. In terms of distribution by investor type, banks took 46% of the issue amount, followed by fund managers with 32%, private banks with 12% and other institutional investors with 10%.

Ahmed Abdelaal, Regional Head of Corporate Clients Coverage MENAT, HSBC, added:“It is again a great honour for HSBC to be part of this successful transaction for the second consecutive year. The strong investor participation both regionally and internationally is a reflection of Ezdan Holding’s ever growing franchise and its ability to capitalize on its credit strengths to continue building international investor recognition.

The transaction is the second milestone in Ezdan’s $2 billion Sukuk programme established on 3 May 2016. The issuance was concluded after an extensive investor roadshow in Hong Kong, Singapore, the UAE and London.

Mr Jan- Willem Sudmann, Group Head of Head of International Banking Group at Mashreqbank psc mentioned:I would like to congratulate the Ezdan team on a very successful close of the 2nd issuance of USD 500M under their USD 2B program. The 2.4X oversubscribed transaction with demand from Asia, Middle East and Europe has demonstrated that Ezdan is fast becoming an established issuer and is also recognized by investors as a strong Qatar based enterprise.

We at Mashreq are proud to be associated as Global Coordinator for this transaction with Ezdan and look forward to contributing to their continued successes in the future.”

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DAMAC Properties Awards Contract Worth AED 58.4 million for Main Structure Works of a Villa Cluster at AKOYA Oxygen

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DAMAC Properties, a leading luxury real estate developer in the region, has recently awarded a contract worth AED 58.4 million for the main structure works of villas at Mulberry cluster in AKOYA Oxygen, a 55-million-square-foot lush green development in Dubailand. The main structure works contract has been awarded to Towers Technology Contracting Co LLC – Dubai.

The grading works, final design and mobilisation works at Mulberry cluster in AKOYA Oxygen are all completed. Engineering works and deep service works are in progress.

Mohammed Tahaineh, Senior Vice President – Commercial, DAMAC Properties, said: “We are content with the pace of progress in development across the various clusters at AKOYA Oxygen. The contractors we appoint hold a proven track record characterised by quality work and timely delivery. We are confident that Towers Technology Contracting will deliver on our contractual agreement to complete the main structure works of the villas at Mulberry cluster in AKOYA Oxygen in a timely manner, while maintaining quality standards.”

AKOYA Oxygen presents a tranquil community environment based around greenery and seclusion. Energy-efficient homes are surrounded by lush landscaping and cascading water features. Located off the Umm Suqeim Road extension and around 15 minutes from DAMAC Hills, AKOYA Oxygen will have an up-market resort feel. The development will include contemporary residential properties of various sizes surrounding an 18-hole championship golf course, along with an organic produce market, hydroponic café, luxury wellness centre, outdoor yoga enclave and retail outlets featuring well-known brands.

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Acelity Names R. Andrew Eckert President and Chief Executive Officer

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Acelity L.P. Inc., a leading global advanced wound care company, today announced that it has named R. Andrew Eckert as President and Chief Executive Officer. Eckert succeeds Joseph Woody, who is leaving Acelity following the successful divestiture of the company’s LifeCell division earlier this year.

“We have a proven and experienced leader at the helm as we embark on a promising new phase in the transformation of Acelity,” said Buddy Gumina, Chairman of the Acelity Board of Directors. “Andy brings a significant set of expertise and experience from across the healthcare and technology sectors and will be a tremendous addition to the team as we concentrate on developing and expanding our industry-leading portfolio of advanced wound therapies.”

Eckert is a seasoned executive and brings to his new role considerable experience as chief executive of numerous public and private healthcare technology and services companies. He is the former CEO of TriZetto Corporation, a provider of world-class healthcare information technology and service solutions that was acquired by Cognizant Technology Solutions in 2014. In addition to TriZetto, Eckert has led five other companies, including CRC Health Group, Eclipsys Corporation, ADAC Laboratories, and most recently, Valence Healthcare in 2016. He serves as Chairman of the Board of Directors of Varian Medical Systems, and is a member of the Board of Directors of Becton, Dickinson and Company.

“This is a remarkable time for Acelity as we navigate the complex evolution of healthcare delivery in markets around the world,” said Eckert. “I welcome the challenge and look forward to leading Acelity’s talented team of more than 4,800 colleagues worldwide at this point in the company’s progression. We have an important opportunity to realize growth by embracing the shift to value-based care and delivering to patients and customers innovative products and therapies that address the burdens of treating chronic and acute wounds.”

“On behalf of the Acelity Board of Directors, I would like to thank Joe Woody for his leadership of the company since 2011,” added Gumina. “Joe introduced Acelity to the marketplace by successfully leading the integration of KCI, Systagenix and LifeCell to create a global leader in medical device and technology and oversaw a period of significant expansion in new product development and therapy adoption. With the successful divestiture of LifeCell, we look ahead to an exciting new chapter of growth and opportunity for Acelity.”

“I am proud of our achievements at Acelity during the past several years,” said Joe Woody. “As I reflect on what we accomplished, perhaps most important to me is the number of patients we are able to now reach with the Acelity portfolio. Looking ahead, I know that the passion and drive of everyone at Acelity to improve the lives of people around the world will lead to innovative new solutions in advanced wound therapy and as an ongoing shareholder of Acelity, I am very excited about the company’s next phase of growth.”

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Etisalat Digital to participate in Middle East Security Conference and Awards

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Etisalat today announced its participation at the upcoming Middle East Security conference (MESCON) and Middle East Security Awards (MESA), an event that addresses the issues faced by the security industry, gathers experts to share their experiences and provides guidelines to senior management on focusing their resources to take advantage of future opportunities.

The annual MESA conference and awards ceremony is being held between 11-13 April in Dubai. The two day conference will involve keynote addresses, CISO (Chief Information Security Officer) panels and presentations to be attended by security and risk executives.

Kamran Ahsan, Senior Director, Digital Security Solutions of Etisalat Digital will be delivering a keynote on the first day, titled as  ‘Maneuvering in the Winds of Change-CISOs-You have many fish to fry!’. The thought provoking  speech will focus on the digital world’s new set of security threats which are applicable to almost all industry segments. As organizations embrace digital transformation, CISOs need to make sure that businesses remain resilient to digital risks and continue to furnish services to their customers. The task is not at all easy to deliver. Kamran’s talk will highlight new horizons of CISO’s responsibilities and identifies means to contribute towards a secure digital world.

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