Arab British Chamber of Commerce Newsletter 19 by Distinctive Media Group Ltd

Arab-British Business Volume 39 Issue 3 September 2015 Monthly bulletin of the Arab British Chamber of Commerce

KUWAIT FORGES AHEAD WITH MAJOR INFRASTRUCTURE PROJECTS Page 19

GAZA APPEAL Even before the ceaseﬁre agreement was in place, Muslim Aid were on the ground responding to the needs of the people of Gaza with emergency aid and relief. Working with local partners and UN agencies, Muslim Aid are working on long-term development programmes in order to rehabilitate Gaza’s services.

ACT NOW

Text Freedom £10 to 70660 020 7377 4200 - muslimaid.org

Text costs £10.00 plus network charge. Muslim Aid receives 100% of your donation. Obtain bill payer's permission. Customer care 02073774200

If your organisation would like to support Muslim Aid’s work in Gaza please contact Corporate Partnerships for more information.

CHAMBER NEWS

NEW MEMBERS

Monthly bulletin of the A-BCC Editorial Team Abdeslam El-Idrissi Cliff Lawrence David Morgan Dr Yasmin Husein Arab-British Chamber of Commerce 43 Upper Grosvenor Street London W1K 2NJ Tel: +44 (0) 20 7235 4363 Fax: +44 (0) 20 7245 6688 d.morgan@abcc.org.uk (English Editorial)

Achieveglobal Middle East The Old Coach House Castle Eden DURHAM County Durham TS27 4SU Tel: +44(0)1429 839 248 Fax: +44(0)1429 838 890 Email: john@achieveglobalmiddleeast. com www.achieveglobalmiddleeast.com Contact: Mr John Cartmell, Regional Director Activities: Provider of sales, leadership and customer training programmes to corporates in the Mideast Class National Company for General Trade and Contracting Fahaheel Block 73 Building 5 Mubarak Abdullah Al Dabous Building Office Number 50 Mezzanine Floor KUWAIT Tel: +965(0)9911 2222 Email: classalwataniya@h Contact: Mr Naser Alfadhli, CEO Activities: General trade and contracting

Craig International Supplies Ltd Denmore Road Bridge of Don ABERDEEN Aberdeenshire AB23 8JW Tel: +44(0)1224-701 888 Fax: +44(0)1224-701 880 Email: cis@craig-group.com www.craig-international.com Contact: Ms Jill MacDonald, Joint Managing Director Activities: Oil, gas and petrochemicals Eleven Zero Limited 79 College Road HARROW Middlesex HA1 1BD Tel: +44(0)203 586 Fax: +44(0)203 178 Email: saeid@11zero.com www.11zero.com Contact: Mr Saeid Nik Akhtar, CEO Activities: Sources, imports, markets and distributes different high-end famous international brands

y.husein@abcc.org.uk (Arabic Editorial) continues page 7

www.abcc.org.uk

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CONTENTS ABCC MEMBERSâ&#x20AC;&#x2122; NEWS

KHARTOUM INTERNATIONAL FAIR

Advertising

NEW SUEZ CANAL OPENS

Distinctive Publishing Tel: 0845 884 2343 john.neilson@distinctivegroup.co.uk

BUSINESS & PROJECT NEWS

TRANSPORT SECTOR OPPORTUNITIES

KUWAIT INFRASTRUCTURE

ARABIC SECTION

TENDERS

BUSINESS EVENTS

Disclaimer Distinctive Publishing or Arab-British Chamber of Commerce cannot be held responsible for any inaccuracies that may occur, individual products or services advertised or late entries. No part of this publication may be reproduced or scanned without prior written permission of the publishers and Arab-British Chamber of Commerce. ISSN No: ISSN 0958-8116

Trade Mission To saudi arabia CiTies: Riyadh, Jeddah saturday 24 – Thursday 29 October 2015 Closing date: Friday 28 august 2015

In partnership with: arab British Chamber of Commerce aBCC, founded in 1975, is a membership organisation that exists to promote trade and investment relations between the United Kingdom and the arab world. Based in London, United Kingdom, aBCC work closely with the arab and British business community, government ministers, diplomats and heads of state.

Pre Mission Briefing: Thursday 8 October 2015 The London Chamber of Commerce and industry (LCCi) together with the arab British Chamber of Commerce (aBCC) will be leading a Trade Mission to the Kingdom of saudi arabia from saturday 24 to Thursday 29 October 2015. The mission will visit Riyadh and Jeddah offering opportunities to meet with government officials, business leaders and key stakeholders.

WHY saudi? For years, saudi arabia has been the Gulf ’s biggest construction market. The Kingdom has huge budgetary resources to proceed with expanding infrastructure, building new cities and modernising airports and other key installations. More than $3tn worth of development projects are expected to start on site in the Kingdom by 2020. Underway are already an impressive mix of mega-cities, public transport projects (over 4000km of roads as well as a national railway), social infrastructure such as healthcare and education, road infrastructure, public housing and mega towers. Projects that are attracting special attention at the moment are the new metro lines in Riyadh, Jeddah and Mecca, and the new mineral processing and integrated fertiliser plants at Ras al Khair in the north east of the country.

www.londonchamber.co.uk/international

THe beneFiTs oF JoininG THis Mission • Pre-visit and in-country briefings providing market information and advice on how to do business in saudi arabia • Networking opportunities and client hospitality at the business reception • Group visits to leading saudi contractors and building sites • Personal introductions to key decision makers • Your company profile in the trade mission brochure, circulated to companies in Jeddah and Riyadh • Visit saudi Build, the leading saudi exhibition in the building and construction sector • Market research provided through UKTi’s Overseas Market introduction service (OMis) scheme • extensive local media coverage to heighten your presence in the market • services of an experienced mission manager before and during the visit • Discounted flights courtesy of Saudia • discounted hotels and transfers

WHo sHouLd Consider JoininG THis Mission? Companies in: • Construction • infrastructure • education and training (related to the infrastructure sector) • Project management • Facilities management • Construction products manufacturing

• • • • •

Construction equipment international law Project financing Recruiting Banks

saudi buiLd saudi Build 2015, the 27th international Construction Technology and Building Materials exhibition, provides contractors, real estate developers and building owners with a full range of building solutions. saudi Build is the largest business to business construction fair in the Kingdom. For more information visit www.saudibuild-expo.com or contact stuart@overseasfairs.co.uk

ProGraMMe (subject to change) daTe

LoCaTion

TiMe

aCTiviTY

saturday 24 October 2015

London

depart London

sunday 25 October 2015

Riyadh

Mission briefing

Group meetings with leading construction companies Business Networking Reception at the British embassy

Roundtable with members of the saudi British Joint Business Council

Visit saudi Build exhibition

Riyadh

Free for participants’ own meetings

Jeddah

Flight to Jeddah

Jeddah

Business Networking Reception at the British Consulate

Wednesday 28 October 2015

Jeddah

all day

Group meetings with relevant local stakeholders

Thursday 29 October 2015

Jeddah/London

depart Jeddah

arrive in London

Tuesday 27 October 2015

Riyadh

THe CosTs

eLiGibiLiTY

• Par ticipation fee: £395 (There is a discounted rate of £295 for LCCi Premier Plus Members and aBCC Members).

To accompany this trade mission, your business must be established within the UK and selling or marketing a British product or service. Applications are subject to approval by LCCI and you will be notified after the closing date for applications as to whether you have been successful.

• Optional extra: Overseas Market introduction service (OMis) provided by UKTI, (prices vary subject to specific requirements) – to be commissioned by Thursday 20 august 2015.

TraveL Discounted flight rates are offered by Saudia. Competitive travel package offered by appointed travel agent. For detailed information on travel and accommodation, please refer to the full application pack.

HoW To aPPLY For the full application pack, please contact the Mission Manager: Marta Zanfrini, international Business executive, London Chamber of Commerce and industry. e: mzanfrini@londonchamber.co.uk or T: +44 (0)20 7203 1822

Our preferred travel partner

6407/30/052015

Monday 26 October 2015

ARABIC LANGUAGE TRAINING Full Day for Beginners

The one-day rapid language training for beginners has been designed by native speakers to pass on the most accurate knowledge in the shortest period of time. Benefit your professional and business relationships with Arabs by taking part in our expedited one-day training session Learning Arabic as a foreign language has benefits of all sorts. Whether you are going on an official or business visit, knowing basic phrases and expressions can help to interact well and blend in. Al-so, your guests from the Arab world may visit you. It would be highly desirable to communicate with them on the basic level in order to appear as good hosts and get closer to closing that important deal.

Arabic is one of the most spoken languages with over 200 million speakers around the world. It is spoken in 24 countries and is the official language of northern Africa, the Arabi-an peninsula, and in much of the Middle East. As the religious language of Islam, it is the language of millions of Muslims around the world. It is also one of six official languages of the UN. The Chamber provides courses in learning the Arabic language for various levels and for gaining a cultural under-standing of conducting business in the Arab world. The ABCC’s certified training courses can tailor lesson content, location and times to meet specific delegates’ needs. For more info email Cliff Lawrence on cliff.lawrence@abcc.org.uk or Tel: 02076594881

Course Dates : 22nd Oct & 29th Oct 12th Nov & 26th Nov Time: 9:30am to 4:30pm Cost ABCC Members £170 + VAT Non Members

£200 + VAT

Arab-British Chamber of Commerce 43 Upper Grosvenor Street, London W1K 2NJ www.abcc.org.uk

NEW MEMBERS

from page 3

NEW MEMBERS Elite Luxury Lifestyle 47 Park Street Southwark LONDON SE1 9EA Tel: +44(0)7985-480 024 Email: info@eliteluxurylifestyle.com www.eliteluxurylifestyle.com Contact: Ms Ruth Oti, CEO Activities: Luxury leisure services for wealthy customers from holidays and private jets to event management and personal shopping JLL Emaar Square Building 1 Office 403 PO Box 214029 DUBAI UAE Tel: +971 4 426 6999 Email: Evgeniya.Lyapunova@eu.jll.com www.jll-mena.com/ Contact: Ms Evgeniya Lyapunova, Operations Executive Activities: Real estate specialists including commercial and London residential property KS International Consultants & Public Accountants Office 54 Building 315 (Diplomat Tower) Road 1705 Block 317 Diplomatic Area Manama BAHRAIN Tel: +973 17831171 Fax: +973 17831170 Email: ahmed@ksi-me.org Website: www.ksi.org Contact: Mr Ahmed Alsulaiman, Managing Partner Activities: Auditing, corporate finance, risk management, business plans, bookkeeping services, policies & procedures

Laronkarn Ltd Chartwell House 38 Church Street MALVERN Worcestershire WR14 2AZ Tel: +44(0)1684 899 306 Fax: +44(0)1684 893 322 Email: info@laronkarn.co www.Laronkarn.co. Contact: Ms Fiona Homes, Director Activities: Consultancy for agrochemicals/ Biocides; manufacturer of vertebrate repellents Naylor Drainage Limited Clough Green Cawthorne BARNSLEY South Yorkshire S75 4AD Tel +44(0)1226-794014 Fax +44(0)1226-791376 Email: elaine.jackson@naylor.co.uk http://www.naylor.co.uk Contact: Miss Elaine Jackson Activities: Manufacturer of building and construction products Omega Ark Group Plc 17 Red Lion Square LONDON WC1R 4QH Tel: +44(0)7812-022551 Email: info@omegaark.com Contact: Mr Gavin Kaye, Consultant Activities: Investment, commodities and financial products

Rosewood UK Partners Ltd 20-22 Wenlock Rd LONDON N1 7GU Tel: +44(0)8446 5459 Email: sales@rosewooduk.com Contact: Ms Sharmeen Basu, Managing Director Activities: High-end luxury corporate goods including hampers, gift baskets and food Security Services International SSI 95 High Street Gorseinon SWANSEA West Glamorgan SA4 4BL Tel: +44(0)179-270 0087 Email: info@securityservicesinternational.co.uk www.securityservicesinternational.co.uk Contact: Mr Russell Grey, Managing Director Activities: Security services provider, specialising in VIP and UHNW protective services including close protection, residential security, international travel security and driver services Associate Member Miss Lina Khashogji Ph.D Student Kingston London Tel: +44(0)758-441 8181 Email: lina.k@live.co.uk

MEMBERS NEWS

OUTER TEMPLE CHAMBERS Ministry and many other corporate and private clients from around the world including the UK, the USA and Western Europe. He was the Honorary Legal Adviser to the British Consulate in Jeddah from 1998 to 2010. Working in both English and Arabic, he is well positioned to represent clients in the English and Saudi courts and official circles and in any other jurisdiction where his dual qualifications gain him rights of audience. He is also the holder of an official Saudi Translation Licence: Arabic to English and English to Arabic. Ali Almihdar is frequently invited to lecture on law in the UK and abroad. He lectured in London at SOAS on, “The Means of Proof in the Sharia System of Law” and at the SaudiBritish Society, Cambridge University and at the Arab-British Chambers of Commerce, where he drew comparisons between certain aspects of Sharia and English Common Law.

Dr Ali Almihdar (centre) with friends and colleagues

Dr Ali Almihdar, a Barrister with Outer Temple Chambers, was recently awarded a PhD in Law by Alexandria University, an occasion that was marked by a reception at the Middle Temple, London, on 2 July. Dr Ali Almihdar divides his professional time between Saudi Arabia and London and brings to the Bar of England and Wales extensive experience of legal practice in the Middle East. His work covers the full spectrum of commercial legal practice from advice to drafting, arbitration to advocacy. He specialises in Commercial Fraud, Business & Banking, Anti-corruption legislation, Financial Services, Environment, Commercial and Corporate and Sharia. He has offered Saudi legal advice and services over a wide range of subjects including advising clients in negotiation of contracts, formation of Saudi companies, foreign capital investment licences for temporary or continuing commercial activities in the Kingdom, shipping, intellectual property matters, agency and distributorship, Sharia finance, construction

projects, arbitration, litigation before Saudi courts and tribunals, labour law matters, wprivate client, succession and general Saudi corporate legal advice. Educated in law at Churchill College, Cambridge (MA & LLM), Dr Ali Almihdar’s legal career started as Legal Adviser to the Saudi Ministry of Petroleum and Mineral Resources, and then expanded (through Almihdar Law Firm (ALF) established in Jeddah, 1976), to handling work for that

He is the author of The International Perspective - Middle East Chapter in Lissack and Horlick on Bribery 2014 and the Saudi Arabian Chapter in Tolley’s International Succession Law, 2015. Dr Ali Almihdar’s legal assistant at Outer Temple Chambers is Caroline Kerswell, who can be contacted at: caroline.kerswell@ outertemple.com www.outertemple.com/barristers/93/index.html

MEMBERS NEWS

RAK FREE TRADE ZONE OPENS 100 NEW WAREHOUSES

ABCC member Ras Al Khaimah Free Trade Zone (RAK FTZ) has opened 100 new warehouses in its technology park, for clients involved in trading as well as light and medium industrial manufacturing.

With flexible warehousing opportunities at RAK FTZ, companies that conduct trading and manufacturing operations at the free zone can effectively meet the needs of their customers, it stated.

The RAK FTZ move highlights its ongoing commitment to provide a full range of world-class facilities to meet investors’ needs, said a statement from the company.

Ramy Jallad, the acting CEO, said: “The opening of the 100 new warehouses underlines our initiative to offer modern infrastructure that is not only of the highest quality, but is also tailored to meet the specific requirements of individual business owners.”

RAK FTZ had embarked on the Dh47million ($12.7 million) project to answer the rising demand for facilities where activities such as shipping, storage and product redistribution can be managed, it added. Supervised and managed by RAK FTZ engineers, the newly constructed warehouses have been made from advanced, high-performance materials. They feature reinforced concrete flooring designed mainly to accommodate the heavier machinery that is often used in industrial manufacturing, said the statement. These facilities have their own water supply connections and fire-safety mechanisms such as sprinklers, suppression systems and fire detectors. Besides these units all have their own kitchen, bathroom and office, it said. The RAK FTZ warehouse project includes new infrastructure such as roads, water and electrical connections, a central firefighting network, drainage, and other features.

“We are continuously striving to provide a wide range of ready-made, cost-effective facilities that are designed to help companies reach their full potential,” he added. Eyad Ismail, an engineering manager, said: “We have equipped the warehouses with valuable features to accommodate a broad range of industrial facility requirements.” “Apart from having higher ceilings and bigger doors to enable loading and unloading of big trucks, the new warehouses come with removable precast hollow core walls. This means that when companies grow, they have the option to expand their floor space to as much as 8,600 sq m,” he added. For more on RAK Free Trade Zone: http://rakftz.com

GROSVENOR HOUSE APARTMENTS BY JUMEIRAH LIVING Combining the refined services of a luxury hotel with the comfort and generous living space of a private Mayfair residence, Grosvenor House Apartments by Jumeirah Living offers a unique experience for both short and extended stays. Situated on London’s exclusive Park Lane, minutes from the businesses of Mayfair and within easy reach of the city and London’s major airports, the 130 stylish suites range from Studios to the 5-Bedroom Grosvenor Penthouse and offer unrivalled luxury in the heart of the capital. Our specially created ‘At Home with Jumeirah Living’ programme offers a truly unique way to enjoy your new Mayfair home. For business travellers, our home office service, personal valet, choice of newspapers and adaptors are all items that can help you work efficiently, effectively and enjoy effortless living from the moment you arrive. The spectacular guest-only Atrium is the ideal place to meet, conduct business and dine. Flooded with natural daylight from the 7-storey glass roof, the Atrium has the feel of an outdoor café, with the privacy and calm of your own secluded courtyard. Contact Cassie Delaney-Brown Marketing Executive Sales and Marketing Grosvenor House Apartments by Jumeirah Living Tel: +44 (0)20 7518 4855

CHAMBER NEWS

TRADE SERVICES

RISK-BASED APPROACH TO QUALITY MANAGEMENT ISO 9001:2015 UPDATE – FDIS 9001 ISSUED THE PUBLICATION OF ISO/FDIS 9001 ON 9 JULY 2015 IS THE LATEST STAGE IN THE ISO 9001 REVISION PROCESS, SAYS SGS, THE INSPECTION, VERIFICATION, TESTING AND CERTIFICATION COMPANY. This is the last formal draft before final publication of the formal revised version which is currently scheduled for September 2015. FDIS 9001 positions the new version of the standard as an integral part of an organisation’s efforts towards the broader aim of sustainable development and promotes it as a tool for improving an organisation’s overall performance. It encourages more internal and external stakeholder focus as part of the adoption of a risk-based approach to quality management and emphasises the importance of adopting a Quality Management System (QMS) as a strategic decision for an organisation. In addition to renaming and repositioning some QMS activities, other significant new requirements have been introduced.

ORGANISATIONAL CONTEXT The ‘context’ of an organisation - or its ‘business environment’- refers to the combination of internal and external factors and conditions that can have an effect on an organisation’s approach to its products and/or services. As a result, consideration of an organisation’s context must now be an element of the QMS design and implementation process.

RISKS AND OPPORTUNITIES A vital part of the planning and implementation of a QMS is a new requirement to identify the risks and opportunities that can potentially impact the operation and performance of the QMS, as well as the corresponding ‘proportionate’ actions to address them.

LEADERSHIP Top management are now required to demonstrate a greater direct involvement in the organisation’s QMS, and the absence from the FDIS 9001 of the need for a specific

‘Management Representative’ is partly an attempt to ensure that ‘ownership’ of an organisation’s management system is not simply focused on one individual. There is now a focus on ‘leadership’ rather than just management of the QMS.

DOCUMENTED INFORMATION The terms ‘documented procedure’ and ‘record’ used in ISO 9001:2008 have both been replaced throughout the FDIS 9001 by the term ‘documented information’. This is defined as information that is required to be controlled and maintained by an organisation, though it is up to each organisation to determine the level and type of documentation necessary to control its own QMS.

ISO 9001:2008 TRANSITION Organisations which are already certified to ISO 9001:2008 will have three years from formal publication of ISO 9001:2015 in which to transfer to the new version of this standard. Based on the current publication schedule, this transition period would end in September 2018. For more information, contact Lesley Pilbeam, Marketing Manager, SGS Tel: 01276 6977670; Email: lesley.pilbeam@sgs.com You can visit www.sgs.co.uk/iso90012015transition to download materials about the transition.

OTHER QMS REQUIREMENTS There are also other changes to QMS requirements, including: n Proposed specific requirements for organisations in relation to the execution of a process approach when planning, implementing and developing a QMS n Identification of the competence necessary for personnel doing work that affects its quality performance n Identification and maintenance of the knowledge needed to ensure that an organisation can achieve conformity of products and services n A risk-based approach to ascertain the type and extent of controls suitable to all types of external provider.

STRUCTURE AND TERMINOLOGY The FDIS 9001 adopts the clause structure specified in Annex SL, which is now the required framework for all new and revised ISO standards. The stated intention behind this is to ensure that the final version of ISO 9001 is aligned with other management systems standards. By utilising the Annex SL structure, it is intended to present QMS requirements in a more consistent, rational manner and not simply offer a template for the elements of an organisation’s QMS. It is important to note that for those organisations that already have an ISO 9001 compliant QMS, there will be no requirement to change their existing QMS procedure and document structure, or the terminology they use, to mirror that specified in FDIS 9001.

THE 5TH ANNUAL SANTANDER INTERNATIONAL DESK CONFERENCE 2.30pm -7.30pm, Monday 21 September 2015 VENUE: Canning House, 15 Belgrave Square London, SW1X 8PS We’re pleased to invite you to our 5th Annual International Desk Conference, which for the first time is taking place in London Attendees include our International Desk teams from around the world, along with representatives from our key partners and strategic banking alliances. The event will include panel discussions followed by a chance to network with the expert speakers and attendees from China, USA, UAE, Germany, Brazil, Mexico, Argentina and from many more places. We hope you can join us for the event. John Carroll Head of International Santander UK CONTACT international.events@santander.co.uk

SUDAN

INTERNATIONAL FAIR OF KHARTOUM – NOW IN ITS 33RD YEAR

25 January – 1 February 2016 Fairground, Khartoum, Sudan The International Fair of Khartoum is a general trade fair featuring wide range of exhibits from different sectors, for example, but not limited to: n n n n n n n n

Industrial Agricultural machinery and equipment Information technology Energy and mines Building materials Medical supplies Services Consumer goods such as ready-made clothes and household appliances

The International Fair of Khartoum is held annually at the Fairground in Khartoum, Sudan. It is one of the country’s most prestigious trade fairs. Established 1976, the Fairground is located at a unique site on the left bank of the Nile, 3km from the city centre and Khartoum international Airport. The fair’s total area

is 429,000m2 including five well-equipped international pavilions with a total area of 13500m2. Halls ranging from 1,800m2 to 2,600m2 are available to flexibly accommodate every conceivable trade fair or congress. The exhibition centre is well prepared for a large volume of visitors. More than 135,000 visitors can attend one event. Participating companies come from Arab, African, European, Asian, Pacific and Latin American countries. Businesses from 16 nations took part in the last exhibition held in January 2015. The event is usually inaugurated by the President of Republic of the Sudan and attended by key government ministers and officials. The Sudanese economy offers diversified investment opportunities in different sectors

and the International Fair of Khartoum is an effective means of entering the market. The Sudanese Free Zones & Markets Co Ltd is the organiser of the International Fair of Khartoum. For further details of how to take part contact the company directly at the address below or visit the official website. Contact Sudanese Free Zones & Markets Co Ltd Fairs & Conferences Directorate PO Box 2366 Khartoum, Sudan Tel: +249 183 26 36 24 Fax: +249 183 26 36 37 Email: info@ifksudan.com http://ifksudan.com

EGYPT

NEW SUEZ CANAL OPENS AND ECONOMIC ZONE PLANNED Egypt’s President Sisi has issued a decree establishing a Suez Canal economic zone, the country’s state news agency said.

It has been predicted that the Canal’s expansion will add $100mn a year to the economy and create a million jobs.

The new zone is the second step in developing the Canal region after Egypt inaugurated a major extension of the Suez Canal on 6 August.

The new bypass waterway will reduce overall canal transit times from 20 to 11 hours. According to projections by the Suez Canal Authority, daily transits will rise from their current level of 49 ships to 97 merchant vessels by 2023.

The government hopes the initiative will stimulate an economic turnaround in the country and the upgrading of the Suez Canal has been described as Egypt’s “21st century mega-project”. The estimated $8.2 billion newly-opened extension includes an additional 35km channel which runs parallel to parts of the existing 145-year old canal. The presidential decree published in the official gazette establishes a major new zone around the canal which will be used to develop an international industrial and logistics hub that should attract foreign investment. The project, which will span over 460km2 and involve six ports, will include 1,000 factories and will offer investors 18 projects worth nearly $40bn, officials said. The development project will be carried out over three to five years. The Suez Canal earns around $5bn for Egypt each year. The country estimates that the new Suez Canal, which is now finished, should increase revenues by 2023 to $15bn. The project is seen as a symbol of national regeneration and a means of stimulating the economy.

Egypt expects the economic zone to eventually contribute about a third of the country’s economy, according to Egypt’s investment minister. Since opening in 1869, the Suez Canal has been an essential component of international maritime trade, allowing shippers on Europe-Asia voyages to cut more than 5,000 miles off a voyage around Africa. After tourism, the Canal is the second major contributor to the national economy. In 2014 the Suez Canal generated $5.3bn in revenue from tolls; over the past decade, according to the Egyptian Central Agency of Public Mobilisation and Statistics (CAPMAS), transit fees from the Canal have contributed $47bn to the country’s economy. In 2014 16,700 ships transited the Canal, while over the past decade 182,300 vessels have used the channel. Parts of the Canal remain too narrow for two-way traffic so Suez authorities arrange for ships to take turns passing in convoys heading in alternate directions. Egypt has been trying for decades to reduce the bottlenecks. It added three side channels

in 1955 and another three in 1980. The authorities have also worked in recent decades on dredging projects to deepen the Canal to ensure access for larger vessels. Over the next three months Egypt plans to promote investment in the Suez Canal Zone in locations as far afield as Abu Dhabi, Beirut, Moscow, Barcelona, Marseille, Hamburg, Milan and Lisbon by participating in business conferences and trade fairs. In order to encourage investment, the Suez Canal project is being considered an Economic Zone of a Special Nature (SEZONE), which means reduced tax rates for investors; a legal framework for the second stage of the canal’s development is to be drawn up. In research published on 13 August, international credit ratings agency Moody’s said that the Suez Canal extension would take time to affect positive credit and it expected limited credit-positive effects during the current fiscal year. The New Suez Canal project would support Egypt’s credit quality through increased current account receipts and government revenue, stated Moody’s, as reported by the Egypt Daily Observer. Finally, it added that the degree of support would depend on the acceleration in global trade growth “which seems unlikely to materialise quickly”.

Sources: Ahram; Reuters, 12/08/2015; UPI, 11/08/2015

EGYPT

EGYPTIANS ‘CAN BUILD CAIRO CAPITAL IN ONE YEAR’

NEW SUEZ CANAL ‘SHOWS THE WORLD WHAT EGYPTIANS ARE CAPABLE OF’

Egyptian construction firms will be able to build the New Cairo Capital in one year, said a top official, underlining that Egyptians are committed to achieving their goals. Mohamed Abdel Raouf, board member of the Egyptian Federation for Construction and Building Contractors (EFCBC), cited New Suez Canal as an example, calling on the government to devote the same effort to implementing the capital project as had been put into the canal. He noted that the design of the Cairo Capital should be an opportunity for Egyptian construction companies to apply global rules and regulations to compete on a global scale. “Egyptian experts abroad should return to the country to participate in building the new administrative capital because many Egyptians have successful work outside,” added Abdel Raouf. “We have almost half a million jobs available in the construction of the new administrative capital through Egyptian construction companies.” He pointed out that all ministries and foreign embassies should be moved to the new Cairo Capital to reduce the pressure in Cairo. The government must commence with the project’s general plan through major consulting offices, as the first step to starting the project’s implementation, and to attract

investment, Abdel Raouf said. The project’s second step is to connect facilities to the Administrative Capital, Abdel Raouf explained, noting that the New Urban Communities Authority (NUCA) has allocated EGP 5bn in the current budget for fiscal year 2015/2016. He highlighted the need to commence construction on the axial roads leading to the capital, to plan the city alongside the surrounding internal and external roads to facilitate the project’s implementation. After planning and connecting the project, it will be offered to companies and major real estate developers, he said. He also noted the difficulty of achieving the project through one company. The new administrative capital officially debuted in Sharm El-Sheikh’s Egypt Economic Development Conference (EEDC), as the country’s latest mega-project, with a total cost of $45 billion and an area of 700 sq m. The population capacity of the new administrative capital is five million people and will include a cosmopolitan city, 25 neighbourhoods, roads that are 250km in length, an airport, a presidential palace and parliament headquarters. In addition, it aims to provide 1.7 million jobs.

Egypt Daily News, 03/08/2015

The final countdown to the opening of the New Suez Canal on 6th August saw a consortium of media communications companies working round the clock as final preparations were put in place. A global communications campaign was implemented by an international alliance which included WPP, Memac Ogilvy, Agence Publics and Media Waves Communications. Founded in 1999 in Egypt by Nagwa Emad, the PR and Marketing Communications guru, Media Waves worked with Memac Ogilvy and Emeco Travel to manage all aspects of the launch event’s media relations, press visits and logistics. “It is such an honour to be working on such an important project. We work around the clock yet we take pride in each and every detail we do because we feel how important this project is to Egypt, Egyptian people and the World at large, “said Nagwa Emad, in the run up to the launch. She added: “This project is more than just a launch or an event; it is showing the world what Egyptians are capable of. Most importantly, it’s a huge step towards the future for the Egyptian people.” Adapted from a Media Waves Press Release

BUSINESS & PROJECT NEWS

SCOTLAND INCREASES FOOD AND DRINK EXPORTS TO UAE BY 25% Scottish food & drink exports to the MENA region grew to almost £225m in 2014 from £188m in 2013, according to new figures released by Scottish Development International (SDI) – the Scottish Government’s investment and business development agency. The UAE market ranks 8th place in terms of the biggest export destinations for Scottish food and drink. Globally, Scottish food and drink exports were valued at £5.1bn in 2014, according to new figures extracted from official HM Revenue & Customs (HMRC) Trade Statistics, which represents a growth of £37m on 2013 figures and surpasses the £1.1bn previous record for the first time. The news indicates increasing international awareness and appreciation of the quality and provenance of Scottish food, and Scotland’s distinguished heritage as a foodproducing nation. The increase has been driven primarily by fish & seafood imports from Scotland, up 44% to almost £4m, and imports of cereals (which include biscuits and baked goods) were also up 17% to just over £7m. In the UAE, Scotland has seen a 25% rise in food and drink exports in 2014 from their

value in 2013 to £124m, which is significant as it sees the UAE jump from 15th place to 8th in terms of biggest export destinations, SDI said. This is followed by Lebanon with an increase of 14% to reaching almost £52m and Saudi Arabia 30% to £12m in 2014. Tom Marchbanks, Regional Manager Middle East, Scottish Development International, commented: ‘‘The huge increase in exports of Scottish food to this region reflects the growing demand from Middle Eastern chefs, buyers and consumers for our premium produce, and a growing recognition of Scotland as a ‘Land of Food and Drink’. “In September, Dubai will be the host city for ‘EMEA - TO THE TABLE2015’, one of the top international fora for food and beverage decision makers. “Then, in October, we will be introducing some key Middle Eastern buyers to Scottish companies and industry organisations on Scottish soil at the Showcasing Scotland event in Gleneagles,” Marchbanks concluded.

Scottish Development International, 29/07/2015

“Algeria is the largest country in Africa, the Arab world and the Mediterranean, possessing one of the most important solar resources in the world,” the minister told the 1st session of the informal ministerial

An international consortium of sovereign wealth and pensions funds, including a London-based division of the Kuwait Investment Authority (KIA), is lining up a bid to buy London City Airport for $3 billion, according to press reports. Wren Infrastructure Management, a London-based division of the KIA, is part of a consortium that is lining up a bid for the airport which is located in the heart of the city and used primarily by business executives. The KIA is the world’s fifth largest sovereign wealth fund with some $592bn in assets. Canadian giant Ontario Teachers’ Pension Plan and investment fund manager Hermes have joined together to lodge the bid for airport, according to a report in the Daily Telegraph. City Airport, three miles from the Canary Wharf financial district, catered for about 3.6 million passengers last year. It aims to serve 6 million a year by 2023. The airport had core earnings of $71.8mn (£45.8mn) in 2014, up 9.3% on 2013.

ALGERIA POTENTIAL TO BE WORLD LEADER IN RENEWABLES Algeria has the potential to become a world leader in the field of renewable energies, the country’s Minister of State, Minister of Foreign Affairs and International Cooperation Ramtane Lamamra, has stated.

KUWAIT IN $3BN BID TO BUY LONDON CITY AIRPORT

consultations preparatory to the COP21, United Nations Climate Change Conference. “Our aim is to set up - next year if possible - an African Forum of Renewable Energies as a platform bringing together the African decision-makers with their partners as well as CEOs of public and private companies,” he said.

APS, 21/07/2015

The airport is 75%-owned by Global Infrastructure Partners (GIP), which also owns Gatwick and Edinburgh airports. It bought the airport for $1.1mn in 2006. Oaktree Capital Management holds the remaining 25%. The Mayor of London turned down the airport’s proposed expansion plans earlier in the year but his decision is currently under an appeal.

Sources: The Daily Telegraph, 18/08/2015; Arabian Business, 20/08/2015

BUSINESS & PROJECT NEWS

AUTO SECTOR TO CREATE 90,000 JOBS IN MOROCCO BY 2020 Morocco’s automotive industry is expected to increase job opportunities in the next five years, as the country becomes a favourite investment destination for many of the world’s leading car manufacturers. Car production in Morocco will create 90,000 new jobs by 2020, according to the president of the Moroccan Association for Industry and Automotive Trade (AMICA), Hakim Abdelmoumen. Speaking at a press conference, Abdelmoumen added that Morocco is witnessing an “industrial revolution”, creating thousands of new jobs, thanks to the investment by major car manufacturers. France’s PSA Peugeot Citroen earlier announced that it will open a manufacturing plant in Kenitra. This would create 4,500 direct jobs and 20,000 indirect jobs by the time the factory becomes operational in 2019.

Mr Abdelmoumen noted that PSA Peugeot was encouraged to invest in Morocco after the success of Renault, which opened a plant in Tangier in 2012. On 5 May 2015, the Renault-Nissan plant in Tangier celebrated the production of its 400,000th vehicle since opening in February 2012. “Thanks to this progress in its production capacity, the Renault plant in Tangier will be one of the biggest Renault production units in the world”, commented Jacques Prost, Directing Manager of Renault group in Morocco.

MAP, 26/07/2015

BAHRAIN’S NON-OIL SECTOR GROWS 5% IN FIRST QUARTER Bahrain’s non-oil sector, which constitutes more than 80% of Bahrain’s GDP, saw strong growth at 5% in the first quarter of 2015, the latest Bahrain Economic Quarterly (BEQ) issued by the Bahrain Economic Development Board (EDB) revealed. Broad-based real GDP grew 2.9% on an annual basis, and strong labour market activity, with employment increasing by 5% compared with the same period last year. The social and personal services sector grew by 8.3% year-on-year, overtaking the hotels and restaurants sector as the fastestgrowing sector. This sector is primarily made up of private healthcare and education activities. The manufacturing sector also saw 5.9% year-on-year growth. Despite global economic challenges, the report finds that forward-looking indicators point to a high degree of continuity in the regional non-oil economy, reflecting the strength of key structural growth drivers and

the commitment of regional governments and investors to long-term projects. Strong growth of 7.5% year on year was reported in the construction sector, which is in line with the sector’s momentum that became apparent in the second half of last year and reflects continued infrastructure activity. Growth in the transport and communications sector followed closely with a 7.3% year on year expansion.

BNA, 22/07/2015

GCC EDUCATION DRIVES REFURBISHMENT BUSINESS Demand for new private school facilities across the GCC is driving onsite refurbishments, with a number of companies looking to secure multimillion dollar projects in the sector. An increasing population, rising numbers of inbound expatriates, and the importance placed on high quality education, has resulted in an active pipeline of around 355 educational projects, the majority of which (92%) are being developed in Saudi Arabia, followed by Qatar, Kuwait, Oman and the UAE. Alpen Capital puts enrolment increases at GCC private schools at a 5.7% CAGR between 2013 and 2020. The GCC region is expected to see a recurring spend of $150 billion on the education sector in the next couple of years. In addition, the number of hotel refurbishment projects in Dubai is also expected to dramatically increase in the run-up to Expo 2020. JLL, a leading real estate investment and advisory firm, said that Dubai is set to see an increase of 28,000 new hotel rooms by 2018.

Khaleej Times, 17/08/2015

WATER HARVESTING PROJECT LAUNCHED IN PALESTINE The Emirates Red Crescent (ERC) has launched a Dh1.45 million water project that will contribute to stimulating the Palestinian economy through provision of water for agricultural purposes. During the opening ceremony, Governor of Hebron, Kamel Hamid, praised the president, government and people of the UAE for supporting the Palestinian people. He said the project was of vital importance, as it would improve the living conditions of 100 farmers. The ERC has drilled 100 wells to harvest rainwater to be used for irrigating farms.

Emirates News Agency, WAM, 13/08/2105

BUSINESS & PROJECT NEWS

DUBAI MEDICAL TOURISM REVENUE TOPS $211M IN Q1 Dubai has treated 118,727 domestic and inbound medical tourists in the first quarter of 2015, resulting in revenues of Dh778 million ($211.5mn) according to latest figures released by the Dubai Health Authority (DHA). Dubai is seeking to position itself within the top 15 destinations in the world for medical tourism and the first in the region.

the remaining 16% from mainly UK and Commonwealth of Independent States (CIS) countries.

Patients were received in 16 private hospitals licensed by DHA and members of the Dubai Medical Tourism Club.

Almost 44% of the medical tourists are in the age group of 25 to 45 years and 10% are 65 years and above. The top health specialties used by the medical tourists are orthopaedic surgeries, dental treatment and cosmetic dermatology.

Dr Layla Al Marzouqi, Director of Health Regulation and the Dubai Medical Tourism project at the DHA, said: “In 2012, the total revenue from medical tourism was Dh652mn ($177.5mn) and now in quarter one of 2015 the revenue is Dh778mn ($211.5mn).

SES Smart Energy Solutions, based in Jebel Ali free zone, is to develop what it says is the first onfield temporary hybrid plant that uses diesel and solar power in the Kingdom of Saudi Arabia. “This will further enhance SES offering in the region, namely for remote sites where SES specialises in providing on demand short to medium-term energy solutions,” said Waleed Isaac, the firm’s managing director. The 14-megawatt plant will be completed under a five-year power purchasing agreement using technology supplied by the Italian firm Building Energy.

The National, 19/07/2015

Emirates News Agency, 18/08/2015

Some 46% of medical tourists were from Asian countries, 25% from GCC and Arab countries, 13% from African countries and

AMEC FOSTER WHEELER WINS UPPER ZAKUM EXTENSION Amec Foster Wheeler, a UK-based leader in global energy, has been awarded an extension to its existing Project Management Consultancy (PMC) contract for the UZ750 project in the Upper Zakum (UZ) oil field, in the UAE. The contract was award by the Zakum Development Company (Zadco), which operates the field through a venture involving the Abu Dhabi National Oil Company, ExxonMobil and the Japan Oil Development Company.

DEVELOPING HYBRID DIESEL AND SOLAR TECHNOLOGY IN SAUDI ARABIA

Foster Wheeler’s ongoing engagement in this strategically important project,” commented Roberto Penno, Group President, Asia, Middle East, Africa & Southern Europe, Amec Foster Wheeler.

The UZ750 project to redevelop the Upper Zakum (UZ) Field, located 84km north-west of Abu Dhabi, began in 2008.

The project is recognised as the second largest oil field in the Gulf and comprises four artificial islands with associated drilling and production facilities.

“This UZ750 contract win cements Amec

Amec Foster Wheeler, 18/08/2015

KERRY LOGISTICS WINS MIDEAST AIRFREIGHT DEAL WITH DEBENHAMS Kerry Logistics, logistics service provider in Asia, has won a contract with British multinational retailer Debenhams to support the department store’s growing export market in the Middle East. Kerry Logistics Network Ltd will handle all airfreight from Debenhams’ distribution centre (DC) in Peterborough to various destinations including Dubai, Bahrain, Qatar, Egypt, Jeddah, Saudi Arabia and Jordan, said a company statement. The Middle East is a key growth market for Debenhams, which trades out of 246 stores, across 28 countries, and is available online in 70 countries. Kerry Logistics PR, 12/08/2015

BUSINESS & PROJECT NEWS

26 FIRMS IN QATAR’S ART MILL DESIGN CONTEST The global search for the designer of the Art Mill in Doha, envisioned as one of the world’s leading cultural centres, is gathering momentum as Qatar Museums (QM) announced a list of 26 architects, chosen from 489 submissions. Qatari firm Arab Engineering Bureau, whose architectural projects include HSBC and Barwa headquarters and the Foreign Ministry building, is among competitors from countries including Spain, Japan, Russia, South Africa, Turkey and Canada and will move to the second stage of the design competition.

OMAN IDENTIFIES SITES FOR NEW AIRPORT Bukha, Lima and Al Harf are among four locations identified by Oman’s Ministry of Transport and Communications as potential candidate sites for the establishment of a new domestic airport in Musandam Governorate in the north of the Sultanate. The fourth site is Khasab, which is already home to a tiny airport whose potential expansion is severely constrained by its location in the midst of high mountains. Pinpointing the most ideal of these four candidate locations, among other prospective sites in this mountainous enclave, is the crux of a consultancy services contract currently being eyed by a number of international and local engineering consultancy firms. According to officials, the successful bidder will advise the government on the most advantageous location — from the geographical, technical, aeronautical and financial standpoints — for the establishment of a modern gateway designed and built in line with Musandam’s reputation as a strategically important enclave and tourist hotspot.

Oman Daily Observer, 18/08/2015

The project involves redevelopment of a spectacular and historic waterfront site in the centre of Doha, at the heart of an emerging cultural quarter of the city. The Art Mill is conceived as a vibrant and multi-layered civic and cultural presence, a focus for the emerging campus of museums and cultural institutions at the eastern end

ISLAMIC WEALTH MANAGEMENT SET TO BE “NEW FRONTIER” Islamic wealth management is going to become be the “new frontier” for the global Islamic finance industry as a growing number of Islamic high-net worth individuals keeps looking for Shariah-compliant types of investment. According to Thomson Reuters’ Global Islamic Asset Management Outlook 2015, Islamic funds – which are already a $60bn industry – are forecast to grow to at least $77bn by 2019, but the latent demand for Islamic funds is projected to grow even higher to $185bn. Kuala Lumpur-based Islamic Financial Services Board says Islamic finance assets are heavily concentrated in the Middle East and Asia, with the GCC countries accounting for the largest proportion of Islamic financial assets with 37.6% of the global total. Initially, Europe led the initial drive of Islamic wealth management, but now other Shariah-based players have joined the market, especially in the GCC and Southeast Asia.

Gulf Times, 21/07/2015

of the Corniche. Occupied by Qatar Flour Mills, the site extends into Doha Bay, with the Arabian Sea on three sides. Two British practices, David Chipperfield Architects and Adam Khan Architects, made it onto the list of 26.

The Peninsula, 20/08/2015

KSA ACCOUNTS FOR 75% OF GCC IPOS IN Q2 Initial public offering (IPO) performance in the GCC showed signs of recovery in the second quarter of 2015 compared to the first quarter, suggesting interest in listing ahead of the traditional quiet holy month of Ramadan and summer period, a PricewaterhouseCoopers report said. The most active IPO market in Q2 2015 was the Kingdom of Saudi Arabia, which accounted for 75% of the total number of IPOs and 87% ($1.0 billion) of total money raised, according to PwC’s Capital Markets and Accounting Advisory Services report. A total of 4 IPOs were seen in the GCC in Q2 2015 with total proceeds of $1.15bn compared to 1 IPO in the previous quarter of the year raising $185.4mn. The well received and largest IPO in the quarter was by Saudi Ground Services Company which raised a total of $751.9mn and listed on the Saudi Stock Market (Tadawul).

Saudi Gazette, 03/08/2015

TRANSPORT SECTOR

GULF TRANSPORT OPPORTUNITIES Expansion of Saudi Arabia’s Madinah Airport The Kingdom of Saudi Arabia’s aviation sector is a dynamic industry due to the country’s expanding population and increasing religious tourism. The Kingdom is working to streamline the industry through infrastructure development, privatisation initiatives, and market liberalisation. Keeping up with the growing need, the KSA opened the first phase of its airport expansion project. The $1.2 billion expansion plan consists of a three-level terminal covering over 156,940m2 with 16 aircraft stands and boarding bridges. The initiative is seen as a positive move towards airport privatisation and economic diversification. For Haj and Umrah pilgrims who are looking travel to Madinah, the airport expansion plan comes as a boon without disguise. However, the Madinah airport is also likely to be the harbinger of heightened economic activity and the precursor to other privatisation initiatives. Frost & Sullivan estimates that the KSA has close to 11 million tourists annually of which 5.7 million are aviation passengers. Aviation traffic is likely to grow at a Compound Annual Growth Rate (CAGR) of 27.2% over the next decade or so. In view of this, the airport expansion project assumes special significance. The new airport is expected to significantly boost Madinah’s economy. Besides improving commercial trade to more than $107 million, almost 20,000 new job opportunities will be created and housing accommodation for an excess of 100,000 residents will require new construction work. This will also directly boost infrastructure and connectivity of the city. The Madinah airport project was constructed and will now be operated as a private enterprise. The KSA has been steadily moving towards aviation privatisation and the sale of Saudia Airlines was the first of multiple such steps. The new airport is a move in the same direction as the KSA looks to enhance competitiveness and efficiency in the aviation sector. “Privatisation is seen as a welcome move as it provides a more competitive environment for airports to function. Besides improving efficiency, privatisation ensures that the

airport management will have a more focused business outlook that could contribute to the economy of the KSA,” says Vinod Cartic, Senior Consultant, Business and Financial Services, Frost & Sullivan. “Growth is also more likely in the privatisation set up with airports looking to non-aeronautical revenue sources as well.” With the need to support an entire business environment, airports have a more varied source of revenue, leading to diversification. “Given that airport revenue is tied to economic cycles and uncertainties, diversified sources of revenue can help stabilise the airport’s cash flow. Studies indicate that as airports mature in terms of traffic, non-aeronautical revenue increases correspondingly,” Cartic added. Cartic also suggested that the Madinah airport could also pave the way for a Madinah Aerotropolis - an urban planning concept where all economic and business activity revolves around the airport. Apart from the geographical size and the economic impact, an aerotropolis serves to boost significantly the airport’s non-aeronautical revenue. The non-aeronautical revenue associated with an aerotropolis like Madinah will also boost the economy of the city. The KSA took giant strides in developing the aviation sector with the liberalisation policy initiated in 2007. However, with the expansion of the airport, safety standards in a privatised airport will attract significant attention. Prevention of monopoly and illegal tie ups between the airport, airlines, and aerotropolis management will be a big challenge. Simultaneously, with the expansion of the airport, there is a growing requirement for trained line staff. With the KSA economy given a boost by high oil prices, a burgeoning young population with higher disposable income, enhanced aviation infrastructure, and an open capital market attracting greater foreign investment, the overall outlook for the KSA’s aviation sector is very positive.

Frost & Sullivan, 15/07/2015

ARCHITECTURAL WORKS OPPORTUNITIES FOR DOHA METRO STATIONS Qatar Rail, which oversees the construction of Qatar’s integrated railway network, showcased architectural opportunities in the works for the Doha Metro stations for project managers, design and build contractors and suppliers. The “Architectural Works for Doha Metro – Phase 1” awareness conference served as an ideal platform to share Qatar Rail’s procurement strategy, the packages and prequalification process, and the projects including the interior fit out for the stations, the structure for the elevated stations as well as the landscaping plans. Mohamed Timbely, Senior Director, Architecture and MEP, Qatar Rail, briefed attendees on the Doha Metro’s architectural works - materials and finishes, on Qatar Rail’s architectural branding guidelines as well as on the status and opportunities for materials and furniture, fixtures, and equipment. The first phase for the project’s architectural works, covering 37 stations, is slated for completion by 2018 while the second, extending to 60 stations, by 2030. Branding for the project’s architecture elements will pour into three subsets of Qatar Rail’s guidelines: network identity, line identity and station identity. The project’s branding concept stems from a myriad of distinctive beacons of Qatar’s heritage and culture, infusing traditional design elements into a modern look and feel. To this end, a recognizable network brand and consistent line identity will be punctuated by unique curated exhibits across each station that will transpire in shelter cladding, ceilings, floors, walls, vaults, interior and exterior lighting. Kaldoon Truman, Senior Director, Contracts and Procurement at Qatar Rail, detailed the project’s material and tender requirements, general subcontracting conditions, tenderer instructions and pretender requirements. A third prequalification round has been launched to attract more participants and will be completed by September 2015. The agreed “Vaulted Spaces” station design is derived from historic Islamic architecture but used in a modern way.

Saudi Gazette, 16/07/2015

KUWAIT

KUWAIT FORGES AHEAD WITH MAJOR INFRASTRUCTURE PROJECTS Kuwait’s construction industry is forging ahead with several large infrastructure projects and planned developments worth an estimated $123.6 billion, according to MEED. The total value of contracts awarded by Kuwait in 2015 amounted to $28bn (KD8.4bn) by the beginning of August, MEED Projects stated. Kuwait recently approved the construction of a series of power plants, desalination facilities and other infrastructure projects worth a total of around $9.9bn (KD3bn), the finance ministry has said. This comes at a time when it has been predicted that Kuwait’s total spending on energy projects will reach $100bn over the next five years with the implementation of the government’s 2030 strategy. This was an estimate made by organisers of the Big 5 Kuwait construction exhibition, which opens at the Kuwait International Fair on 14 to 16 September. Kuwait’s construction market is growing and growth is being driven in large part by the energy sector. According to the International Monetary Fund, energy projects constitute 40% of total construction projects as of May 2015. The Big 5 Kuwait trade event is expected to provide updates on Kuwait’s 2035 renewable energy targets as well as its green building framework, among other initiatives that all form part of the country’s ambitious programme of investment. Kuwait drafted a new investment law as part of its development plan, according to Oxford Business Group. The long-term economic vision for the country spanning 2009 to 2035

aims to reduce the economy’s oil dependency by transforming the country into a diversified commercial and financial hub. The initiative comprises five separate fiveyear plans. Running from 2015-20, the latest plan sets aside $116bn for a broad range of projects, including 45,000 new housing units, a metro and railway system, and a new refinery. One key challenge for Kuwait is to meet the soaring demand for electricity from both domestic users and industry and the planned projects will add around 3,580 megawatts of capacity. There are also new projects for waste treatment and developments designed to improve education. The ministry did not set a timescale for most of the initiatives, except for a sewage plant which will start by 2020. Projects are to be 50% funded by finance raised through stock market offerings. Among the new projects, Kuwait plans a second phase of the gas-fired Az-Zour North power and desalinated water plant that has an initial capacity of 1,800 MW. It will also build the first phase of the Khairan power plant with 1500 MW of capacity, which will use different types of fuel, and the Al Abdaliyah power plant with a capacity of 280 MW, of which 60 MW will be from solar energy while the rest will be fed by gas. Kuwait plans to generate 15% of its energy needs from renewable sources by 2030, with the first of up to 100 solar-powered fuelling stations operating by 2017, Oil Minister Ali Saleh Al-Omair said in June. A pilot 70MW project in the Shagaya desert

zone west of Kuwait City was expected to be completed by next year. Partnership projects between public and private sectors have achieved results, the minister said. A body has been established in accordance with international standards to help Kuwait implement projects in a competitive and professional manner, Deputy Prime Minister and Minister of Finance said. The body’s higher committee has approved six projects and their tenders were offered at the beginning of August, he added. Kuwait confirmed that these projects will be jointly implemented by both public and private sectors as Kuwait seeks to boost the participation of the private sector in its sustainable development. Kuwait also plans to maximise the use of latest technologies on the new projects and services provided. Furthermore, the country aims to transfer knowledge; create jobs for nationals; attract investment and support the local economy to alleviate burdens on its budget. A monthly update of recent developments in selected sectors in Kuwait is published by the National Bank of Kuwait (NBK) and can be found online: www.kuwait.nbk.com/InvestmentAndBrokerage/ ResearchandReports/MonthlyBriefs_en_gb.aspx

News sources: Kuwait Times, 16/08/2015; Gulf Base, 10/08/2015; Trade Arabia, 19/08/2015; OBG, 18/03/2015

DIGITAL BANKING

DIGITAL BANKING GAINS POPULARITY IN UAE Mobile banking is the fastest-growing segment across the globe due to its increasing popularity and the UAE is no exception. It is part of the core banking strategy of most of the financial institutions that are developing mobile apps to cash in on the high demand from the bankers. Latest data suggests that UAE banking customers are conducting more of their everyday banking through their mobile phone. The UAE market as a whole remains very branch-driven, but high usage of online banking and mobile banking is prevalent in addition to branches. According to global intelligence and media provider RFi’s 2015 first-half survey of UAE retail banking customers, there is a high penetration of digital banking usage among the UAE population, with 82% of UAE customers using at least one digital banking channel. About 61% have in fact conducted online banking via a mobile device, while 57% have used a mobile app. According to the survey, 32% of the UAE banking population are frequent users of banking via an app on their mobile device, using it at least once a month. Approximately, 39% use online banking via their mobile device once a month. The survey said 36% of UAE banking customers believe that their main financial institution offers good mobile banking, while 38% believe that it always offers the most up-to-date technology. The RFi research shows that the UAE possesses a large smartphone penetration level, with 97% of UAE phone owners holding smartphones. About 17% of the UAE population surveyed would prefer to pay a bill via an app using a mobile phone in the first half, up from 15% in the second half of 2014. It further said 17% would prefer to transfer money to a family member or a friend this way, up from seven percent in the second half of 2014. Abdulla bin Khalaf Al Otaiba, senior managing director of global retail and commercial at National Bank of Abu Dhabi, said mobile banking is far more efficient than traditional branches. Perhaps, most importantly, mobile banking has the potential to be a game-changer in terms of customer service. He said technology is changing the very definition of service and mobile banking helps to improve

the service and relationship between a bank and its customers. “We have recently launched mobile banking in May 2015. It is expected that global mobile banking users and usage will exceed 1.75 billion in 2019, representing 32% of the global adult population,” Al Otaiba told Khaleej Times. A pressure towards change in distribution channels is occurring at the global level, with a clear trend away from branch channels and towards digital channels and call centres. The branch channel has dropped from 73% of applications worldwide prior to 2011, to just 60% in the last year, while usage of digital channels for applications has almost doubled, from 19% to 37%, according to RFi’s research. This global shift has come about with the help of the proliferation of mobile digital devices such as smartphones and tablets, as well as the digital native generation, helping to push the boundaries of digital uptake and exerting a strong influence over how banks distribute their products to consumers. According to the RFi study, consumers in the UAE have a high level of trust in new payment technology, a high level of interest in using new types of payments and are more likely to be able to envisage a cashless world. These findings suggest that the UAE is primed for adoption of alternative payment methods. “At Emirates NBD, approximately 80% of the transactions are already performed via digital and direct channels such as online, mobile, ATMs and call centre. As a result of our integrated multichannel approach to optimise our channel mix and improve the service to our customers, this percentage has been growing over the last few years,” Pedro Cardoso, head of multichannel and CRM at Emirates NBD, told Khaleej Times. “We aim to reach 90% of total transactions outside the branch though various convenient channels in the next three years, if not before. This is helping us to serve customers better and more efficiently as we grow our business.

“Our mobile banking transactions are growing by more than 70% year on year, and this year we expect it to reach 20% of all branch transactions. Yes, we think the fact that Dubai and other emirates in the UAE are transforming into smart economies will contribute to sustain the growth of mobile and digital banking services in years to come.” The UAE currently lags far behind in digital application levels, relying almost exclusively on the branch and call centre channels. However, RFi data indicates that banked customers in the UAE are among the most ready to rapidly move towards digital channels by 2020, falling just behind urban retail banking customers in China in this metric. “I think it is widely apparent that the mobile banking market in the UAE is growing at a phenomenal pace. Indicative of our success, the HSBC Mobile Banking app has now been downloaded approximately 80,000 times across the UAE, growing at about 120% last year in comparison to 2013,” Khalid Elgibali, head of retail banking and wealth management for the UAE and Mena at HSBC Bank Middle East, said. “With approximately 770,000 log-ons, a large number of customers downloading the app are using it regularly, as a result of which transactions on this channel have witnessed an 80% year-on-year growth,” he said. Noor Bank’s head of customer experience, Dr Fraz Chishti, said replacement of the physical cards with mobile devices is gaining ground. As more and more POS machines accept NFC/RFD communications, and digital services become available on mobile devices, banks will see the growth of device+based POS transactions as compared to cardbased.

Agencies, 03/08/2015

SAUDI ARABIA E-LEARNING

SAUDI ARABIA GETS AHEAD IN E-LEARNING CURVE An increased emphasis on e-learning in Saudi Arabia’s education system, coupled with targets to modernise teaching methods, underpin a wider drive to diversify the economy away from oil and create more jobs. Last year, a five-year SR80 billion ($21.3bn) plan was approved to develop Saudi Arabia’s education sector, in addition to the annual allocation to the Ministry of Education. As part of the plan, 25,000 teachers will be trained overseas and resources are to be allocated to improve the online capabilities of educational institutions and promote e-learning. The government’s ongoing commitment to education was underlined in the budget for 2015, when it received a quarter of the total government spending allocation, or SR217bn ($57.8bn), up 3% on last year’s allocation.

E-LEARNING DRIVE Governments, private schools and corporations are also moving to adopt a digital approach to education. In the Middle East, revenues in this segment are expected to rise from $443m in 2013 to $560.7m by 2016, according to a report by electronic education solutions provider Docebo. The e-learning market in the region is set to expand by 8.2% annually as governments invest heavily to support the initiative. Saudi Arabia in particular sees digitalised education as a means to reach more citizens and broaden their knowledge base. Ten years ago the government created the National Centre for e-Learning and Distance Learning (NCEL) which is tasked with implementing the national plan to develop e-learning in the Kingdom. “The government has taken a comprehensive approach to the e-government rollout by emphasising e-services, e-commerce, and e-learning,” the centre’s general manager, Abdullah Al Megren, told OBG. “Creating an entire online library accessible to all Saudi students, both throughout the Kingdom and overseas, has been a great step in the right direction. This is giving students equal opportunities of access regardless of location.” University education in particular has received a boost in recent years, according to Abdullah Al Mosa, president of online higher learning institute the Saudi Electronic University. “E-learning is now growing faster than ever before in the Kingdom, especially with a greater emphasis being placed on the sector’s development by the ministry itself,” Al Mosa told OBG.

Saudi Electronic University

Initiatives include working with partner universities as well as developing up to a quarter of courses online. “We are also seeing that local universities are working with their foreign counterparts in developing suitable e-learning curricula, such as our relationships with Colorado State and Franklin University in the US.”

OPPORTUNITIES AND CHALLENGES Technology and solution providers also see significant potential for growth in the Saudi educational sector. In a recent interview with local media, Mohammed Al Abbadi, general manager at Cisco Systems Saudi Arabia, said education offered one of the greatest opportunities for growth. “By partnering with educational institutions, government administrations and communitybased organisations, we are delivering ICT education through effective in-classroom learning combined with innovative cloudbased curriculums,” he said in June. One of the challenges faced by Saudi Arabia is ensuring its educators have the necessary skills to use the new technology. This is less of an issue in fully compartmentalised packages, such as many of those utilised in the corporate world where learning can be conducted fully online. However, in schools where there is more interaction between educators and students and where learning makes use of digital tools rather than being online, ensuring teacher quality will be of the utmost importance.

Academics agree that improving support mechanisms for teachers as well as providing a professional support base for e-learning is imperative in the Kingdom. “Organisational support, in the form of incentives, was found crucial to motivating faculty members to engage in distance education,” according to a paper entitled “E-learning in Saudi Arabia: Past, Present and Future” by the Near and Middle Eastern Journal of Research in Education. “There is a need for qualified teachers and instructors who can understand and implement the technology to deliver quality output”. To answer this challenge, the stateoperated Tatweer Company for Educational Services (T4EDU) has stepped up its teacher development programmes. In conjunction with educational services provider Pearson, T4EDU is working to sharpen the focus on training educators who in turn will provide courses to teachers on the latest developments in teaching science, technology, engineering and maths. Some of those digital tools are already in place, while others – in particular software packages and the policies for their use – are still being developed.

Oxford Business Group, 29/07/2015 For further reports from OBG see http://www.oxfordbusinessgroup.com

ECONOMY

WORLD INVESTMENT REPORT 2015 UNCTAD’s World Investment Report 2015 shows a decline in Foreign Direct Investment (FDI) inflows in 2014 by 16% to $1.2 trillion, but also shows that recovery is in sight in 2015 and beyond. FDI flows now account for more than 40% of external development finance to developing and transition economies.

The World Investment Report is this year subtitled, Reforming International Investment Governance. It sets out to address key challenges in international investment protection and promotion, including the right to regulate, dispute settlement, and investor responsibility. Furthermore, the report examines the fiscal treatment of international investment, including contributions of multinational corporations in developing countries, fiscal leakage through tax avoidance, and the role of offshore investment links. Inward FDI flows to developing economies reached their highest level at $681 billion with a 2% rise, the report shows. Developing economies have extended their lead in global inflows. China became the world’s largest recipient of FDI. Among the top 10 FDI recipients in the world, five are developing economies. The low level of flows to developed countries persisted in 2014. Despite a revival in cross-border mergers and acquisitions (M&As) overall FDI flows to these economies declined by 28% to $499bn. They were significantly affected by a single large-scale divestment from the United States. Investments by developing-country multinational enterprises (MNEs) reached a record level: developing Asia now invests abroad more than any other region. In fact, nine of the 20 largest investor countries were from developing or transition economies. Most regional groupings and initiatives experienced a fall in inflows in 2014. The groups of countries negotiating the Transatlantic Trade and Investment Partnership (TTIP) and Trans-Pacific Partnership (TPP) saw their combined share of

global FDI inflows decline, the report shows. The ASEAN countries (up 5% to $133bn) and the RCEP (up 4% to $363 billion) bucked the trend. By sector, the shift towards services FDI has continued over the past 10 years in response to increasing liberalisation in the sector, the increasing tradability of services and the growth of global value chains in which services play an important role. In 2012, services accounted for 63% of global FDI stock, more than twice the share of manufacturing. The primary sector represented less than 10% of the total. The significance of private equity funds in the global M&A market, with $200bn in acquisitions in 2014, was reflected mainly in transactions involving large companies. Sovereign wealth funds (SWFs) are increasingly targeting infrastructure internationally. There are more than 100 SWFs, managing over $7trn worth of assets and accounting for about one tenth of the world’s total assets under management, but FDI constitutes only a small proportion of those assets. The value of FDI by SWFs rose in 2014 to $16bn, ending a three-year decline. Some SWFs have been engaging in long-term investments through FDI, including through cross-border corporate acquisitions and overseas real estate purchases. More than half of SWFs have started or expanded FDI in infrastructure, which represents an important asset class for them, because of both the sector’s largescale investment opportunities and its relatively stable returns. State-owned MNEs’ international expansion

has decelerated; in particular, their crossborder M&As declined by 39% to $69bn. At the end of 2014, some 5,000 MNEs had an estimated $4.4trn in cash holdings, 40% more than during the 2008–2009 crisis. However, there are signs that the largest 100 MNEs and companies in specific industries such as utilities are beginning to reduce their cash reserves. International production rose in 2014, generating value added of approximately $7.9trn. The sales and assets of MNEs’ foreign affiliates grew faster than their domestic counterparts. Foreign affiliates of MNEs employed about 75 million people. North Africa saw its FDI flows decline by 15% to $11.5bn. It fell overall because of tension and conflict in some countries in the region, despite significant inflows in others. In fact, FDI into Egypt grew by 14% to $4.8bn, while flows into Morocco grew by 9% to $3.6bn. Meanwhile, the security situation in what UNCTAD categorises as the West Asia region led to a six-year continuous decline of FDI flows (down 4% to $43bn in 2014); weakening private investment in parts of the region is compensated by increased public investment. In GCC economies, government-led investment in construction has focused on infrastructure while oil and gas development has opened up opportunities for foreign contractors to engage in new projects through non-equity modes. FDI outflows from the region decreased by 6% to $38bn, due to the fall of flows from Kuwait and Qatar − the two largest investors in the region. The report estimates that FDI will grow steadily over the next three years. It says global FDI inflows are projected to grow by 11% to $1.4trn in 2015. Expectations are for further rises to

ECONOMY

$1.5trn in 2016 and to $1.7trn in 2017. Both UNCTAD’s FDI forecast model and its business survey of large MNEs signal a rise of FDI flows in the coming years. The share of MNEs intending to increase FDI expenditures over the next three years (2015–2017) rose from 24 to 32%. Trends in cross-border M&As also point to a return to growth in 2015. The report identifies risks to the predicted recovery in factors such as the ongoing uncertainties in the Eurozone, potential spill overs from conflicts, and persistent vulnerabilities in emerging economies. Investment policy measures continue to be geared predominantly towards investment liberalisation, promotion and facilitation. In 2014, more than 80% of investment policy measures aimed to improve entry conditions and reduce restrictions. A focus was investment facilitation and sector-specific liberalisation, for example, in infrastructure and services. UNCTAD data shows that, in 2014, 37 countries and economies adopted at least 63 policy measures affecting foreign investment. Of these measures, 47 related to liberalisation, promotion and facilitation of investment, while 9 introduced new restrictions or regulations on investment; the remaining 7 measures were of a neutral nature.

Only 8% of measures between 2010 and 2014 were speciﬁcally targeted at private sector participation in key sustainable development sectors like infrastructure, health, education, climate-change mitigation. There is a pressing need for systematic reform of international investment agreements, the report argues. As is evident from the heated public debate and parliamentary hearing processes in many countries and regions, a shared view is emerging on the need for reform of the regime to ensure that it works for all stakeholders. The report concludes that the question is not about whether or not to reform, but about the what, how and extent of such reform. UNCTAD estimates contribution of MNE foreign afﬁliates to government budgets in developing countries at approximately $730bn annually. This represents, on average, some 23% of total corporate contributions and 10% of total government revenues. The relative size and composition of this contribution varies by country and region. It is higher in developing countries than in developed countries, underlining the exposure and dependence of developing countries on corporate contributions. On average, the government budgets of African countries depend on foreign corporate payments for 14% of their funding.

social contributions, and other types of taxes and levies, than through corporate income taxes. An investment perspective on tax avoidance puts the spotlight on the role of offshore investment hubs (tax havens and special purpose entities in other countries) as major players in global investment. Some 30% of cross-border corporate investment stocks have been routed through offshore hubs before reaching their destination as productive assets. The outsized role of offshore hubs in global corporate investments is largely due to tax planning, although other factors can play a supporting role. MNEs employ a range of tax avoidance levers, enabled by tax rate differentials between jurisdictions, legislative mismatches, and tax treaties. Tax avoidance practices by MNEs lead to a substantial loss of government revenue in developing countries. At a particular disadvantage are countries with limited tax collection capabilities, greater reliance on tax revenues from corporate investors, and growing exposure to offshore investments. Ongoing anti-avoidance discussions in the international community pay limited attention to investment policy.

New investment restrictions related mostly to national security concerns and strategic industries such as transport, energy and defence.

Furthermore, the lower a country is on the development ladder, the greater is its dependence on non-tax revenue streams contributed by ﬁrms.

The role of investment in building the corporate structures that enable tax avoidance is fundamental. Therefore, investment policy should form an integral part of any solution to tax avoidance.

Measures geared towards investment in sectors important for sustainable development are still relatively few.

In developing countries, foreign afﬁliates, on average, contribute more than twice as much to government revenues through royalties on natural resources, tariffs, payroll taxes and

The full UNCTAD report, World Investment Report 2015, Reforming International Investment Governance, can be found online at www.worldinvestmentreport.org/

‫‪ARABIC SECTION‬‬

‫التحكيم في القانون العراقي‬ ‫‪Arbitration in Iraqi law‬‬

‫بقلم د‪ .‬ليث األنباري‬ ‫دكتوراة في القانون الدولي الخاص‬

‫األصل أن تتولى الدولة بواسطة محاكمها فض المنازعات القانونية بين األفراد‪ ،‬لكن تطور القانون قد انتج منذ وقت طويل آلية بديلة لحل النزاعات‪،‬‬ ‫تتمثل في إختيار األطراف لشخص يتولى الفصل في النزاع‪ ،‬وتحديد المركز القانوني لكل منهما‪ ،‬من حيث الدائنية والمديونية‪.‬‬ ‫ويمثل التحكيم ضمانة رئيسة لقطاع األعمال‪ ،‬خاصة عند العمل في دولة أجنبية تنتمي إلى مجموعة الدول النامية‪ ،‬حيث يفضل رجال األعمال عدم‬ ‫الخضوع إلى النظام القضائي الوطني‪ ،‬وذلك لعدة أسباب‪ ،‬أبرزها أن المستثمر األجنبي اليألف البيئة القانونية للدولة المضيفة‪ ،‬خاصة عندما ينتقل من‬ ‫دول القانون العام "‪ "Common Law‬إلى دول القانون المدني "‪"Civil Law‬؛ كذلك المستوى العالي من تدخل الدولة في العقود‪ ،‬وخاصة عقود‬ ‫القطاع الحكومي؛ العامل األكثر تأثيراً في الدفع إلى التحكيم هو قصور النظام القضاء الوطني عن اإلستجابة إلى متطلبات التجارة الدولية‪ ،‬من حيث‬ ‫القانون الواجب التطبيق عليها‪ ،‬ووجوب حل النزاع خالل مدة زمنية قصيرة‪ ،‬وصيرورة الحكم نهائياً‪ ،‬بما يؤمن اليقين القانوني ألطراف العالقة‬ ‫القانونية‪.‬‬ ‫وإستجابة لهذه المتطلبات‪ ،‬فقد إعترف قانون اإلستثمار العراقي (عدد ‪ 13‬لعام ‪ )2006‬في المادة السابعة والعشرين بقدرة األطراف على إختيار‬ ‫اإلختصاص التشريعي والقضائي لحل النزاعات العقدية الناشئة‪ ،‬بأن يتضمن العقد نصا ً يحدد القانون الواجب التطبيق على أي نزاع ينشأ بين أطرافه‪،‬‬ ‫والمحكمة المختصة بنظر هذا النزاع‪ ،‬سواء أكانت هذه المحكمة تابعة لدولة ما أو هيئة تحكيمية؛ كما إن تعليمات تنفيذ العقود الحكومية (عدد ‪ 2‬لعام‬ ‫‪ ،)2008‬أجازت للشركات العامة والوزارات تضمين عقودها مع الشركات األحنبية شرط التحكيم‪ ،‬وذلك في العقود اإلستراتيجية وعقود المشاريع‬ ‫المهمة (المادة الثامنة)‪.‬‬ ‫ولكي يحقق " التحكيم " غايته كضمانة إجرائية‪ ،‬فإنه يتطلب باإلضافة إلى تقرير جوازه‪ ،‬أن يكون قابالً للتنفيذ مباشرة‪ ،‬شأنه في ذلك شأن األحكام‬ ‫القضائية الصادرة عن المحاكم األجنبية‪ .‬غير إن األمر ليس كذلك في القانون العراقي إذ أن قانون تنفيذ األحكام األجنبية (عدد ‪ 30‬لعام ‪ )1928‬يسري‬ ‫فقط على األحكام الصادرة عن محاكم تابعة لدولة أجنبية‪ ،‬كما إن العراق لم ينضم لحد األن إلى إتفاقية نيويورك ‪ 1958‬الخاصة بتنفيذ قرارات التحكيم‬ ‫األجنبية؛ لذا فإن محكمة تمييز العراق اإلتحادية قد صدقت على قرار لمحكمة بداءة رفض منح الصفة التنفيذية لقرار تحكيم صادر غرفة التجارة‬ ‫الدولية (‪[ )ICC‬قرار محكمة التمييز عدد ‪ 108‬لعام ‪ ،2013‬الهيئة المدنية المنقولة]‪.‬‬ ‫ويقوض هذا بالطبع ضمانة مهمة لإلستثمار الجنبي‪ ،‬ويؤثر سلبا ً في األمان القانوني في العراق؛ مع ذلك فإن القانون العراقي اليخلو من وسيلة لتفعيل‬ ‫هذه الضمانة‪ ،‬ذلك أنه يعترف بقرار التحكيم متى كان صادراً بإشراف محكمة عراقية‪ ،‬فقانون المرافعات المدنية (عدد ‪ 83‬لعام ‪ )1969‬قد تولى تنظيم‬ ‫التحكيم في الباب الثاني من الكتاب الثالث من القانون في واح ًد وعشرين مادة‪ ،‬منها المادة (‪ )252‬التي نصت على إنه‪ ":‬إذا ثبت للمحكمة وجود‬ ‫إتفاق على التحكيم أو إذا أقرت إتفاق الطرفين عليه أثناء المرافعة‪ ،‬فتقرر إعتبار الدعوى متأخرة إلى أن يصدر قرار التحكيم"؛ وتطبيقا ً لهذا النص‬ ‫فقد قررت محكمة البداءة المتخصصة بدعاوى العقود ذات العنصر األجنبي إستئخار قضية وزارة المالية العراقية ضد شركة فينكانتيري وكانتييري‬ ‫نافالي اإليطالية لحين صدور الحكم من هيئة التحكيم في غرفة التجارة الدولية (‪ ،)ICC‬وذلك لوجود إتفاق على التحكيم سابق على إقامة الدعوى أمام‬ ‫المحكمة العراقية‪ ،‬وقد صدقت محكمة التمييز اإلتحادية على القرار (قرار الهيئة المدنية‪ /‬منقول‪ 1921 /‬لعام ‪.)2012‬‬ ‫ويمضي العراق حاليا ً في سيبيل توفير الضمانات القانونية لإلستثمار األجنبي‪ ،‬حيث يقوم مجلس شورى الدولة بدراسة إتفاقية نيويورك الخاصة بتنفيذ‬ ‫األحكام القضائية وقرارت التحكيم األجنبية تمهيدأ لرفعها إلى مجلس النواب العراقي لغرض تشريع قانون باإلنضمام إليها؛ كما إن المجتمع القانوني‬ ‫العراقي قد شهد ألول مرة تأسيس مركز للتحكيم التجاري الدولي تابع لغرفة التجارة؛ لكنه مسجل كمنظمة غير حكومية (‪ ، )NGO‬وهذا نقص آخر في‬ ‫القانون العراقي‪ ،‬مرده أن نقابة المحامين عند تشريعها لنظام المكاتب القانونية اإلستشارية (تعليمات عدد ‪ 3‬لعام ‪ )2009‬قد حظرت على مثل هذه‬ ‫المكاتب ممارسة التمثيل القانوني [المحاماة] أو العمل كهيئة تحكيم‪.‬‬ ‫لذا فإن مايحتا جه القانون العراقي في سبيل تقوية األمان القانوني بتوفير الضمانات القانونية للتجارة الدولية واإلستثمار األجنبي في العراق‪ ،‬هو‬ ‫تعديل قانون تنفيذ األحكام األجنبية ليشمل قرارات هيئات التحكيم الدولية‪ ،‬وتنظيم التحكيم المحلي بتعديل تعليمات مكاتب اإلستشارات القانونية بما يبيح‬ ‫لها العمل كهيئة تحكيم‪.‬‬ ‫لالتصال واالستفسار‪:‬‬ ‫بغداد العراق‬ ‫‪Dr Laith Al Anbari‬‬ ‫‪Doctorate in private international law‬‬

‫‪Alanbarilaith@gmail.com‬‬

‫‪+964(0)7708-001-898‬‬

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‫‪25‬‬

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‫ ‪ARABIC SECTION‬‬

‫‪ -7‬الموردين‪ /‬مصدر البضاعة‬

‫‪ -10‬خدمة الشحن والتوصيل‬

‫الموردين الذين‬ ‫من الموارد المهمة أيضا لك كمتجر الكتروني هم‬ ‫ّ‬ ‫ستجلب منهم بضائعك‪ ،‬إذا كنت تتعاون مع شركات كبيرة أو مثال‬ ‫ماركات معروفة من األفضل أن تتأكد من إتمام أمورك معهم في هذه‬ ‫المرحلة‪ .‬وينصح أن تجعل جميع تعامالتك بعقود رسمية موقعة من‬ ‫الطرفين لكي تضمن حقك وتكون األمور واضحة منذ البداية‪ .‬ومن‬ ‫األفضل أن تعرض العقود قبل توقيعها على مكتب محاماة متخصص‬ ‫لكي تأخذ منه خدمات استشارية للمشاريع الصغيرة والمتوسطة‪.‬‬

‫أحد أهم أساسيات متجرك اإللكتروني هو اختيار شركة الشحن التي‬ ‫ستقوم بتوصيل المشتريات لعمالئك‪ ،‬هناك العديد من شركات الشحن‬ ‫الموثوقة مثل ‪ ،DHL ،FedEx‬وخدمة البريد العادي وعشرات من شركات‬ ‫الشحن األخرى‪ .‬الجدير بالذكر أن بعض هذه الشركات تقدم خدمة الدفع‬ ‫عند االستالم والبعض اآلخر ال يقدمها‪.‬‬

‫ولكونك مؤسسة تجارية لها سجل تجاري‪ ،‬سيكون تعامل شركات الشحن‬ ‫معك بشكل مختلف‪ .‬بمعنى أنه يمكنك فتح حساب لديهم بحيث يتم تخفيض‬ ‫سعر الشحنة الواحدة لك على حسب عدد شحناتك التي ترسلها في الشهر‬ ‫الواحد‪ ،‬كلما زاد عدد الشحنات كلما قل مبلغ الشحنة الواحدة‪ .‬وبعد أن يتم‬ ‫‪ -8‬تجهيز الموقع االلكتروني‬ ‫فتح الحساب لدى شركة الشحن باسمك‪ ،‬ستقوم شركة الشحن بتسليمك‬ ‫وهي المرحلة الممتعة جداً من مراحل إنشاء متجرك اإللكترونية بوليصات شحن خاصة بك (مطبوع عليها بيانات ال ُمرسِ ل الذي هو‬ ‫حيث أن تطوير الموقع اإللكتروني لمتجرك هو من أجمل وأمتع متجرك) وكل ما عليك هو فقط تعبئة بيانات المرسل إليه – الذين هم‬ ‫المراحل التي ستمر بها‪ .‬والموضوع سهل وممتع ذلك أن شبكة عمالؤك‪.‬‬ ‫اإلنترنت مألى بالموضوعات الجاهزة لمتاجر الكترونية يمكنك‬ ‫استخدامها وتنصيبها بنقرة زر واحدة‪.‬‬ ‫‪ -11‬خدمة التغليف (‪)Packaging‬‬ ‫– ابدأ أوال بحجز الدومين الخاص بموقعك‪.‬‬ ‫– اختر المنصة األنسب إلدارة المحتوى‪ ،‬هناك العديد من منصات‬ ‫التجارة االلكترونية سهلة االستخدام وبعضها مجاني‪ .‬من أشهرها‬ ‫‪ ،Magento ،WooCommerce ،OpenCart‬وأخيرا منصة ‪.Shopify‬‬

‫بعد أن يقوم العميل بعملية الشراء‪ ،‬البد أن تقوم بتجهيز مشترياته بشكل‬ ‫آمن وأنيق حتى يتم شحنه وإيصاله للعميل دون أضرار أو نقص‪ .‬في‬ ‫الواقع‪ ،‬توجد جهات عديدة تقدم خدمات التغليف إال انها يمكن أن تكون‬ ‫غير ذي جدوى اقتصادية لمشروع ناشىء وذو إمكانية بسيطة‪ .‬لذلك‪،‬‬ ‫يجب البحث عن جهات يمكن أن تقدم لك هذه الخدمة بالكمية التي نريدها‬ ‫وبالسعر الذي يناسبك‪.‬‬

‫– ابدأ بتطوير واجهة متجرك بنفسك‪ ،‬أو يمكنك شراء أحد‬ ‫الموضوعات (الثيمات) الجاهزة وتنصيبه مباشرة‪ ،‬ويختلف (الثيم)‬ ‫على حسب المنصة التي قمت باختيارها‪ ،‬أو يمكنك االستعانة بمطور‬ ‫‪ -12‬مبروك عليك متجرك اإللكتروني‬ ‫ويب ليقوم ببناء المتجر لك‪.‬‬ ‫اآلن أنت جاهز للدخول إلى عالم التجارة واألعمال ‪ ...‬مبروك‬ ‫– من المهم أثناء تطوير موقعك اإلنتباه ألدق التفاصيل‪ ،‬حاول بقدر‬ ‫المستطاع أن يكون موقع متجرك مريحا ً وسهل االستخدام وكل جزء واآلن ماذا تنتظر؟ ابدأ فوراً ببناء متجرك االلكتروني األول! ولكن‪...‬‬ ‫منه واضح تماما للمستخدم‪ .‬ومن الضروري جدأ أن تجعل خيارات‬ ‫الدفع متعددة ليختار منها العميل ما يناسبه ويثق به‪ ،‬وهذه النقطة‬ ‫مهمة جداً وتستحق منك جدير االهتمام‪.‬‬ ‫‪ -9‬فتح حسابات بنكية لمتجرك‬ ‫آن الوقت اآلن لتبدأ بفتح حسابات بنكية لمتجرك الصغير حتى‬ ‫يستطيع عمالؤك تحويل المدفوعات لك (من المهم أن نذكر هنا أنه‬ ‫يتوجب عليك إصدار سجل تجاري لمتجرك حتى يمكنك فتح حساب‬ ‫بنكي باسم المؤسسة‪ ،‬حيث غالبا ً يشترط وجود سجل تجاري خاص‬ ‫بمشروعك حتى يتم فتح الحساب)‪ .‬ولزيادة االحترافية‪ ،‬يمكنك إصدار‬ ‫بطاقة فيزا على الحساب البنكي لمؤسستك لتستخدمه في فتح حساب‬ ‫‪ PayPal‬خاص بمتجرك‪ ،‬وتجعله ضمن خيارات الدفع في المتجر‪،‬‬ ‫حيث أن طريقة الدفع ‪ PayPal‬يعتبر مفضل لدى أغلب الزبائن لما‬ ‫يوفره من موثوقية‪.‬‬

‫‪ARABIC SECTION‬‬

‫كيف تنشأ متجرك االلكتروني األول؟‬ ‫أن إنشاء متجر خاص بك على شبكة‬ ‫اإلنترنيت يجب أن يكون عمالً‬ ‫مدروسا ً ومحسوبا ً إذا ما كنت ترغب‬ ‫بالوصول إلى النجاح‪ .‬وهنا يمكننا أن‬ ‫ندرج عدداً من الخطوات الرئيسية‬ ‫في إعداد مشروعك الخاص على‬ ‫الشبكة العنكبوتية‪:‬‬ ‫‪ -1‬فكرة المشروع‬ ‫أن فكرة المشروع األول لمتجرك‬ ‫هي أهم ما في األمر‪ .‬أن إيجاد فكرة‬ ‫مميزة هي عين النجاح‪ .‬فخذ وقتك‬ ‫تماما ً في البحث عن فكرة لمتجرك‬ ‫اإللكتروني القادم‪ ،‬تأمل ما حولك‪،‬‬ ‫واسأل نفسك‪ ،‬ما هو الشيء الذي‬ ‫أتمنى لو أن هناك متجرا إلكترونيا‬ ‫خاص لبيعه؟ اسأل من حولك أيضا‬ ‫هذا السؤال واجمع إجاباتهم‪ ،‬ربما‬ ‫تكتشف فكرة لم تخطر ببالك من قبل‪.‬‬ ‫‪ -2‬دراسة الجدوى وبناء نموذج العمل التجاري‬

‫‪ -4‬ماذا ستبيع في متجرك؟‬

‫أن الخطوة الثانية بعد أن تجد الفكرة هي دراسة مدى جدوى‬ ‫البضاعة أو المنتج‪ ،‬هي ثاني أهم ركن من أركان المشروع‪ .‬ما هي‬ ‫مشروعك مالياً‪ .‬إن كل مشروع ناجح البد وأن سبقه دراسة متأنية‬ ‫البضاعة أو المنتج الذي ستبيعه؟ وكيف ستبيعه؟ وهل يحتاج إلى تغليف‬ ‫لمدى جدواه اقتصاديا ً حتى ال يضيع المال والجهد سدا‪ .‬أن كنت ال‬ ‫أو تعبئة أو ما شابه؟‬ ‫تعرف كيفية إعداد دراسة الجدوى لفكرتك يمكنك االستعانة بالعديد‬ ‫من الجهات االستشارية التي تقدم خدماتها للمشاريع الصغيرة‬ ‫أن الشكل النهائي للبضاعة التي ستبيعها مهم للغاية‪ .‬البحث والمقارنة‬ ‫والمتوسطة بأسعار مناسبة‪.‬‬ ‫مفيدة في هذه النقطة‪ ،‬أبحث عن منتجات مشابهه لمنتجك‪ ،‬سواء في‬ ‫في الكفة األخرى من الميزان‪ ،‬البد أن تبدأ ببناء نموذج العمل السوق المحلي أو العالمي‪ ،‬وقارن منتجك بهذه المنتجات‪.‬‬ ‫التجاري (‪ )Business Model Canvas‬الخاص بمشروعك‪ .‬وهنا هل هناك ميزة في منتجك ليست موجودة في غيره؟‬ ‫الباس من قراءة الكتاب الشهير "ابتكار نموذج العمل التجاري"‬ ‫المترجم إلى اللغة العربية‪ ،‬ذلك أن هذا الكتاب ثمين من المهم أن كيف يمكنك االستفادة من مميزات المنتجات الموجودة مسبقا في السوق؟‬ ‫يكون موجود في مكتبة كل رائد أعمال محترف‪.‬‬ ‫وأحرص على أن يكون منتجك متفوق على غيره‪.‬‬ ‫‪ -3‬تصميم هوية متجرك‬

‫‪ -5‬تسعير البضاعة أو المنتج‬ ‫هي مرحلة مهمة ودقيقة يجب أن تتأنى فيها وتختار السعر األنسب‬ ‫لمنتجك بحيث تحقق فيها هامش ربح يعود عليك بالنفع‪ .‬هناك عدة أنواع‬ ‫للتسعير‪ ،‬وعليك اإلطالع على بعض المصادر مثل كتاب "فن التسعير"‬ ‫للكاتب جون لينكولن‪.‬‬

‫بعد الفكرة واتضاح معالمها ودراسة جدواها االقتصادية عليك أن‬ ‫تنطلق إلى إيجاد هوية مشروعك االحترافية الخاصة‪ ،‬وذلك بتصميم‬ ‫هوية متكاملة لمشروعك واختيار شعار مميز ذو تصميم وألوان‬ ‫مميزة تكون واجهتك للناس كلما تحدثت عن مشروعك‪ .‬أن تصميم‬ ‫شعار المتجر تدل على احترافيتك في تصميم الهوية التي اخترتها‬ ‫لمشروعك‪ .‬وفي هذه المرحلة يجب عليك االستعانة بالمواهب ‪ -6‬التسجيل التجاري والرخصة‬ ‫المتوفرة في مجال تصميم هويتك التجارية التي تعكس الصورة‬ ‫وهي كل المتعلقات التي تظهر مشروعك بحلّة‬ ‫المشرقة لمشروعك‪.‬‬ ‫احترافية ورسمية‪ ،‬ابتداءاً من األمور المالية‬ ‫وإنتهاءاً بإصدار السجل التجاري للمشروع‪ ،‬وهي‬ ‫خطوة مهمة جداً‪ ،‬وكذلك تسجيل عالمتك التجارية‬ ‫الخاصة بك‪.‬‬

‫‪26‬‬

‫‪27‬‬

‫ ‬

‫ ‪ARABIC SECTION‬‬

‫العقارية‪ ،‬السيد ليونرس‪ ،‬مدير مؤسسة‬ ‫(‪ .)William Carrington‬وقال ليونرس‬ ‫عن وضع السوق والمستشرين في‬ ‫أفضل المناطق في لندن بأنه "ال أرى‬ ‫تحسنا ا في ظروف السوق قبل شهر‬ ‫أيلول (سبتمبر) ‪."2015‬‬

‫أن الزيادات الضريبية تبدأ في صفقات‬ ‫العقارات بقيمة من غاية ‪ 937،000‬ألف‬ ‫جنيه إسترليني‪ ،‬وإن أولئك الذين‬ ‫يشترون عقارات بأقل من هذا يدفقون‬ ‫اآلن ضريبة أقل‪ ،‬ويتم دفع نسبة ‪%12‬‬ ‫ضريبة على العقارات بقيمة متا فوق‬ ‫‪ 1.5‬مليون جنيه إسترليني‪ .‬وأضافت‪:‬‬ ‫ان "المشترين ذاتهم الذين كان‬ ‫أوزبورن بصدد مساعدتهم‪ ،‬هم ذاتهم‬ ‫الذين وضعهم أوزبورن في موقع غير‬ ‫جيد أو "غير في صالحهم‪ ،‬وفي الوقت‬ ‫نفسه‪ ،‬قد جمدت المبيعات األغلى سعرا‪،‬‬ ‫مبيعات العقارات الفاخرة‪ ،‬وهذه خطوات‬ ‫سيئة جداا جداا"‪.‬‬

‫وقال جوني موريس‪ ،‬رئيس قسم األبحاث ووسيط عقارات‪ ،‬أن عدد المستثمرين الذين سجلوا في مؤسسة (‪ )Hamptons International‬أو الذين‬ ‫أبدوا رغبة في شراء عقارات فاخرة في وسط لندن‪ ،‬قد انخفض بنحو ‪ %10‬في النصف األول من هذا العام مقارنة مع نفس الفترة من العام‬ ‫الماضي‪.‬‬ ‫وقال موريس أن المستثمرين الذين يشترون الشقق عدة بقيمة تتراوح بنحو ‪ 500،000‬جنيه إسترليني في لندن يحصلون على عائد أرباح عند‬ ‫التأجير بنسبة تتراوح ما بين ‪ ،%5-4‬مقارنة مع حوالي ‪ %2‬في تأجير مساكن فخم في أفضل المناطق في لندن‪.‬‬ ‫وقال كوري بميل‪ ،‬مدير مؤسسة كناري وارف ودوكالندز‪ ،‬أن وكالة (‪ )Chestertons‬توسطت في إنهاء صفقة بيع ‪ 11‬شقة في برج بروفيدانس‬ ‫(‪ )Providence Tower‬في شرق لندن لمستثمر واحد مايو‪ .‬ومن المقرر أن يتم االنتهاء من بناء البرج في العام المقبل‪.‬‬ ‫وفي منطقة كنسينغتون في لندن وتشيلسي‪ ،‬وهما من أغلى البليات الملكية في المملكة المتحدة‪ ،‬تم إنهاء صفقات بيع ‪ 137‬منزالا في شهر نيسان‬ ‫(أبريل) ‪ ،2015‬وهو أدنى معدل شهري منذ مارس عام ‪ ،2009‬وفقا لبيانات تسجيل األراضي‪.‬‬ ‫وانخفضت قيم بعض العقارات في بعض من أفضل أحياء مدينة لندن‪ ،‬والتي تراجعت اسعار عقاراتها منذ فرض التغييرات الضريبية األخيرة‬ ‫وضريبة الختم الجديدة‪ ،‬هذا وفقا ا ‪ Knight Frank LLP‬الوسيط في مؤسسة نايت فرانك (‪ .)Knightsbridge‬الذي أكد انخفاض األسعار في األشهر‬ ‫السبعة وشهر تموز بنسبة ‪ %2.3‬في منطقة نايتسبريدج‪ ،‬وبنسبة ‪ %0.6‬في منطقة نوتينغ هيل‪.‬‬ ‫وعن تراجع قيم وأسعار العقارات في قلب‬ ‫مدينة لندن‪ ،‬قال جايلز حنا‪ ،‬نائب الرئيس‬ ‫األول في كريستيز العالمية العقارية‬ ‫(‪)Christies International Real Estate‬‬

‫"أن هذا ما هو إال تصحيح مؤقت‪ ،‬ولكني‬ ‫أعتقد أن ‪ PCL‬سيستمر بالنمو في نهاية‬ ‫المطاف"‪ .‬وأكد بأن مثل هذا الوضع مر‬ ‫مرت به المدينة مرات عديدة‪.‬‬

‫‪ARABIC SECTION‬‬

‫العقارات الفاخرة في أحياء لندن مثل نايتسبريدج ومنطقة بلغرافيا ووصفت ديل هذا التحول بأنه "خطوة سيئة جدا" من قبل أوزبزرن‪،‬‬ ‫أصبحت من المناطق التي اليفضلها حتى أغنى المستثمرين العقاريين‪ .‬وإن بدل أن يستفاد الناس الذين هم بحاجة من التخفبض الضريبي‪ ،‬فهو‬ ‫أن المشتثمرين العقاريين األكثر غناءا يحاولون االبتعاد عن االستثمار افاد الناس ليسوا بحاجة للمساعدة في التحايل الضريبي‪.‬‬ ‫وشراء العقارات الفاخرة في لندن‪ ،‬أو أنهم قد "طردوا" منها وذلك بعد‬ ‫الضرائب الجديدة (ضرائب المبيعات) التي أدخلها وزير الخزانة وقال ديل مع المستثمرين يشترون اآلن المزيد من المنازل في مناطق‬ ‫البريطاني‪ ،‬جورج أوزبورن‪ ،‬في شهر كانون األول (ديسمبر) ‪ ،2014‬أقل تكلفة‪ ،‬وأسعار أقل من عتبة أوزبورن ترتفع ومالك المحتلين‪ ،‬الذين‬ ‫والتي ارتفعت لتصل إلى ‪ %12‬من تكلفة المنازل والعقارات الفاخرة في كان يجب أن يستفيد من التخفيضات الضريبية‪ ،‬ويتم معاقبة‪.‬‬ ‫بريطانيا‪.‬‬ ‫وتقول ديل‪ ،‬أن أوزبورن قد ساهم في إدخال عقارات لندن الفاخرة في‬ ‫تقول المدير الشريك في شركة (‪ )Black Brick Property Solutions‬ووكيل مرحلة "الركود"‪ ،‬وإن المستثمرين "مستمرون بإنفاق نفس المبالغ‪،‬‬ ‫بيع وشراء العقارات كاميال ديل بأن زبائنها ينفقون في المتوسط ‪ 2‬إال أنهم يقسموها على العديد من العقارات األرخص ثمنا ا في مناطق أقل‬ ‫مليون جنيه إسترليني (أو ما يعادل ‪ 3.1‬مليون دوالر) أقل على كل ثمناا‪ ،‬في سوق األقل من ‪ 1‬مليون جنيه إسترليني‪ .‬وحول تراجع عدد‬ ‫معاملة شراء عقاري هذا العام‪ ،‬وأنهم يبدون اهتماما أكبر في المناطق الصفقات المعقودة في بيع وشراء عقارات لندن‪ ،‬تقول أنه لحد ‪ 23‬تموز‬ ‫األرخص من مدينة لندن‪ ،‬مثب منطقة هاكني وشورديتش‪ ،‬ذلك ألن (يوليو) ‪ 2015‬قد قدمت النصح واالستشارة بشأن ‪ 25‬صفقة شراء‬ ‫شراء منزل فاخر بقيمة ‪ 5‬ماليين جنيه إسترليني ودفع نحو ‪ 000،364‬ألف عقارات بمتوسط قيمة بنحو ‪ 1.5‬مليون جنيه إسترايني مقابل نحو ‪12‬‬ ‫جنيه إسترليني ضرائب‪ .‬وبدالا عن هذا يهرول المستثمرون األغنياء إلى صفقة على عقارات بمتوسط قيمة ‪ 3.54‬مليون جنيه إسترليني في الفترة‬ ‫شراء ‪ 10‬شقق كلفة الواحدة ال تتجاوز ‪ 000،500‬ألف جنيه إسترليني نفسها من العام الماضي‪ .‬وانخفضت مبيعات المنازل الفاخرة في لندن‬ ‫وعدم دفع الضريبة التي فرضها أوزبورن على شراء العقارات الفاخرة‪ .‬التي تتجاوز قيمتها بمبلغ ‪ 2‬مليون جنيه إسترليني فما فوق‪ ،‬انخفضت‬ ‫أنه التهرب الضريبي بعينه‪.‬‬ ‫إلى الثلث في الربع الثاني من العام الماضي‪ ،‬هذا وفقا ا لخبير البيانات‬

‫‪28‬‬

ECONOMIC FOCUS CHAMBER NEWS

ADVERTORIAL

ADCB and Santander have forged an innovative and dynamic partnership Abu Dhabi Commercial Bank (ADCB) was established in 1985 and is now one of the UAE’s largest and most respected banks. As at the end of March 2015 ADCB employs in excess of 4,000 staff (of 62 nationalities) and serves some 600,000 retail and 50,000 corporate clients across a network of 48 branches in the UAE together with overseas branches in India, Jersey and representative offices in London and Singapore. Total assets (end March 2105) exceed GBP 36.6 Billion with a market capitalisation (excluding treasury shares) of approximately GBP 6.0 billion. ADCB is a full service commercial bank offering a full range of retail banking, wealth management, private banking, corporate and commercial banking, investment banking, foreign exchange, interest rate and currency derivatives and Islamic products/structures, project finance and property management. ADCB established a representative office in London in 2014 and provides advisory services, referral and introduction to corporate and commercial clients in the UK wishing to avail of trade, cash and treasury services in the UAE for which the bank has enjoyed an unrivalled series of major awards. The office also works with UK partners organisations and specialists to support their UAE clients requiring banking services in the UK market. In the UK the bank has formed an alliance with Santander UK to serve and support those of their clients who seek to take advantage of the dynamic and fast-growing export to the UAE, now one of the UK’s Top 10 export markets. Santander Group is a diverse retail and commercial bank with 1,157 branches in the UK and around 14,000 worldwide; more than any other international bank.

between the UK market the UAE and wider GCC and MENA markets. ADCB and Santander are proud to support the work of the Arab British Chamber and their membership.

ADCB Awards: Santander in the UK provide strong local knowledge and expertise and are increasingly the bank of choice for ambitious businesses seeking to expand internationally. Working closely together – and both as active members of the Arab British Chamber of Commerce in the UK – the two banks have forged an innovative and dynamic partnership in driving bilateral trade for UK and UAE businesses alike. Through Santander’s award-winning Trade Portal commercial and corporate entities are able to identify and explore potential trade relationships in new markets such as the UAE which the two banks are then able to support through appropriate cash, trade and risk management solutions. ADCB and Santander owe their success to their relationship approach; looking to harness a full understanding of client businesses and their unique requirements. The banks deliver a customer-centric and service-led model and are proud to increasingly be the banks of choice to support ventures

Best for Cash Management, UAE 2015 – Euromoney

Best Trade Finance Provider in the UAE 2015- Euromoney

Best Bank for Cash Management in the Middle East 2015- Global Finance

Best Supply Chain Finance Provider Award, Middle East 2015- Global Finance

Best Trade Finance Bank in UAE 2015Global Finance

Santander Awards: l

Best Business Current Account Provider - Business Moneyfacts 2015

Best International Solutions Provider Business Moneyfacts 2015

Innovation in the SME Finance Sector (Santander Trade Portal) - Business Moneyfacts 2015

Business Bank of the Year - Business Moneyfacts 2015

TENDERS

TENDERS EGYPT REQUEST OF INTERNATIONAL OFFERS TO EXECUTE PHASE ONE OF ADVANCED METERING INFRASTRUCTURE (AMI) Scope of Work This involves the replacement of 3 million existing electricity meters with smart meters (with the replacement of the remaining 7 million meters to be covered under phase 2 of the project). Offers are hereby requested from experienced companies and/ or consortia to supply the first 3 million meters as per the requirements & specs, also test, pilot & deploy the meters within 2 years period and provide operations & maintenance of the end-to-end solution for a period of three years after deployment Document Cost: LE5,000 Bid Bond: $5,000,000 Contact Egyptian Electricity Holding Co (EEHC) Nasr City, Abbassia, Cairo Tel: 02 - 27882778/ 26038197 Website: http://www.egelec.com/mysite1/ contact/contactus.htm Deadline: 15/10/2015

CONSTRUCTION OF ZAHRAA EL MAADI KV PACKAGE B 22/220/500 KV SUBSTATION Scope of Work This project involves (a) nine single phase autotransformers 167 MVA each plus one spare phase with its accessories, overhead line AVRs & 22 kV bear conductors with related accessories as specified in bid documents - volume, (b) six single phase 500 kV shunt reactors, 33.33 MVAr each plus 1 spare phase with its accessories three of which to be installed at South Helwan Power Plant and 4 of which at Assuit 500 kV substation. Request of international offers from capable bidders Document Cost: $2,000 Bid Bond: $350,000 Contact Egyptian Electricity Transmission Co (EETC) 5 Sixth October St, off El Bahr El Aazam St, Opposite Pharaonic Village, El Mounib Giza, Egypt Tel: +20 2 35716390 Fax: +20 2 35716390 www.moee.gov.eg Deadline: 08/09/2015

CONSTRUCTION OF OVERHEAD TRANSMISSION LINES INTERCONNECTIONS OF SOUTH HELWAN POWER PLANT & ZAHRAA EL MAADI SUBSTATION TO THE 500 KV POWER GRID Scope of Work Project under funding extended from the World Bank for the construction of Sukhna Power Plant including all components of the double circuit transmission lines (excluding tower design) including (a) OHTL South Helwan / Zahraa El Maadi 100 Km length & (b) OHTL Zahraa El Maadi/ Sokhna/ El Tebbin of 15 Km length for completion in 18 months Request of international offers from capable bidders Document Cost: $2,000 Bid Bond: $900,000 Contact Egyptian Electricity Transmission Co (EETC) 5 Sixth October St, off El Bahr El Aazam St, Opposite Pharaonic Village, El Mounib Giza, Egypt Tel: +20 2 35716390 Fax: +20 2 35716390 www.moee.gov.eg Deadline: 12/10/2015

CONSTRUCTION OF ZAHRAA EL MAADI 500/220/22 KV SUBSTATION & ITS SCADA AND TELECOMMUNICATION SYSTEMS TO CONNECT IT TO THE NATIONAL ELECTRIC CONTROL CENTRE (NECC) & CAIRO REGIONAL CONTROL CENTRE (CRCC) UNDER FINANCE FROM THE WORLD BANK Request of international offers from capable bidders Scope of Work Scope also includes the erection, putting into operation of nine 500/220/22 kV single phase autotransformers 167 MVA each plus 1 spare phase with their accessories, also O.L.T.C., AVRs and its 22 kV air insulated conductors, also the erection & putting into operation of 3 single phase 500 kV shaunt reactors, 33.33 MVAR capacity each with their accessories one each end of the 500 kV single circuit O.H.T.L. line extending South Helwan P./ Assuit 500 kV substation plus one spare phase with its accessories which will be installed at Assuit 500 substation site all for completion in 18 months. Document Cost: $2,000 Bid Bond: $400,000 Contact Egyptian Electricity Transmission Co (EETC) 5 Sixth October St, off El Bahr El Aazam St, Opposite Pharaonic Village, El Mounib Giza, Egypt Tel: +20 2 35716390 Fax: +20 2 35716390 www.moee.gov.eg Deadline: 08/10/2015

IRAQ SOUTH OIL COMPANY Ministry of Oil Republic of Iraq Details of latest tenders from the South Oil Company, Basrah, can be found here: http://www.soc-basrah.com/tenders. php?lang=en Supply of Mobile Diesel Engine Spare Parts Tender No: 1307/2015 You can find the conditions for submitting offers on the website: www.oil.gov.iq - www.mrc. oil.gov.iq Contact Midland Refineries Co (Daura Refinery) Ministry of Oil Iraq info@mrc.oil.gov.iq Deadline: 29/09/2015

OMAN CONSTRUCTION OF GROUNDWATER RECHARGE DAM IN WILAYAT IBRI, DAHIRA GOVERNORATE AT WADI SULAIF (IBR) Tender No: 37/2015 Document Cost: RO1950 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: +968 24602652 Email: Tenderom@Omantel.net.om Website: http://www.tenderboard.gov.om/ eng/ Deadline: 07/09/2015

CONSULTANCY SERVICES FOR STUDIES AND DESIGN OF THE PORT OF SALALAH (PHASE3) Tender No: 35/2015 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: +968 24602652 Email: Tenderom@Omantel.net.om Website: http://www.tenderboard.gov.om/ eng/ Deadline: 26/10/2015

CONSTRUCTION OF MATAH ALTURUQ - QURAYHA ROAD Tender No: 36/2015 Document Cost: RO2550 Contact Oman Tender Board Muscat Oman PO Box 787/133

TENDERS

Al Khuwair Tel: +968 24602652 Email: Tenderom@Omantel.net.om Website: http://www.tenderboard.gov.om/ eng/ Deadline: 07/09/2015

WITH DUBAI ELECTRICITY & WATER AUTHORITY FOR DEWA SMART INITIATIVE RELATED TO CONNECTING SOLAR ENERGY TO HOUSES AND BUILDINGS IN THE EMIRATE OF DUBAI (SHAMS DUBAI INITIATIVE). SEE:

QATAR

https://e-services.dewa.gov.ae/Tenders Deadline: 31/12/2015 Supply, Installation, Testing & Commissioning of SCADA Operations Technology Training Centre (OTTC) and Associated works Tender No: 2421500032 Document Cost: AED1000 Contact: Dubai Electricity & Water Authority Office of the Contracts Manager Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae Website: www.dewa.gov.ae Deadline: 01/10/2015

PROVISION OF STEVEDORING SERVICES AT QP PORTS AND MAINTENANCE OF CT7 Tender No: GT15108400 Scope of work includes supply of personnel, equipment, tools, services and expenses necessary to provide stevedoring services at RLC and MIC Ports and maintenance at CT7 on continuous basis and also on a call-off basis Bid Bond: QR395,0000 Document Cost: QR500 Contact Qatar Petroleum PO Box 3212 Doha, Qatar Tel: (974) 4440 2000 Fax: (974) 4483 1125 Website: www.qp.com.qa Deadline: 04/10/2015

PROVISION OF MANPOWER FOR OIL SPILL RESPONSE SERVICES Tender No: GT15108500 Bid Bond: QR1000000 Contact Qatar Petroleum PO Box 3212 Doha, Qatar Tel: (974) 4440 2000 Fax: (974) 4483 1125 Website: www.qp.com.qa Deadline: 04/10/2015

EPIC MODIFICATION OF GAS RECYCLING PLANT, DUKHAN MECHANICAL WORKSHOP, UNDERGROUND DIESEL TANK, AND ASSOCIATED ELECTRICAL AND MECHANICAL WORKS Tender No: GT15108000 Bid Bond: QR150,000 Contact: Qatar Petroleum PO Box 3212 Doha, Qatar Tel: (974) 4440 2000 Fax: (974) 4483 1125 Website: www.qp.com.qa Deadline: 04/10/2015

UAE INVITATION TO PV EQUIPMENT MANUFACTURERS TO REGISTER THEIR PHOTOVOLTAIC EQUIPMENT

SUPPLY, INSTALLATION, TESTING & COMMISSIONING OF HASSYAN COAL (HSYNCOAL) 400KV STATION AND ASSOCIATED MODIFICATION WORKS Tender No: 2131500045 Document Cost: AED5000 Contact: Dubai Electricity & Water Authority Office of the Contracts Manager Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae Website: www.dewa.gov.ae Deadline: 30/09/2015

SUPPLY OF CABLE PROTECTION TAPE Tender No: 2051500045 Document Cost: AED200 Contact Dubai Electricity & Water Authority Office of the Contracts Manager Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae Website: www.dewa.gov.ae Deadline: 16/09/2015

SUPPLY OF EARTHING TRANSFORMER Tender No: 2051500046 Document Cost: AED200 Contact: Dubai Electricity & Water Authority Office of the Contracts Manager Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae Website: www.dewa.gov.ae Deadline: 14/09/2015

SUPPLY & INSTALLATION OF CIVIL PARTITIONS, MEP, IT AND ASSOCAITED WORKS FOR VARIOUS DEWA LOCATIONS (RATE CONTRACT) Tender No: CG/0008/2015 Document Cost: AED500 Contact Dubai Electricity & Water Authority Office of the Contracts Manager Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae Website: www.dewa.gov.ae Deadline: 14/09/2015

SUPPLY OF PULSE TYPE SELFCLEANING INLET AIR FILTERS FOR GAS TURBINES AT ‘H’ PHASE-I STATION, AL AWEER Tender No: 2051500031 Document Cost: AED500 Contact Dubai Electricity & Water Authority Office of the Contracts Manager Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae Website: www.dewa.gov.ae Deadline: 09/09/2015

SUPPLY OF UNMANNED AERIAL VEHICLE (UAV) FOR OVERHEAD LINE INSPECTION

SUPPLY, INSTALLATION, TESTING AND COMMISSIONING 132KV CABLE LAYING WORKS FOR DERAILND, SAHIL, DERATWRKS, GULFVIEW, ARABGULF, SEIFDERA, VIEWS, MRINACMIN, BAHRJUMR, THRDNSHB, SUSTAIN, OPRTUNTY & MAADEN 132/11KV SUBSTATIONS AND ASSOCIATED WORKS

Tender No: 2131500043 Document Cost: AED500 Contact Dubai Electricity & Water Authority Office of the Contracts Manager Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae Website: www.dewa.gov.ae Deadline: 15/09/2015

Tender No: 2131500044 Document Cost: AED5000 Contact Dubai Electricity & Water Authority Office of the Contracts Manager Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae Website: www.dewa.gov.ae Deadline: 08/09/2015

PALESTINE

PALESTINE STANDING UP FOR CAPITAL MARKETS Mr Ahmad Aweidah, CEO of the Palestine Exchange (PEX), answers questions about the challenging environment in which it operates.

HOW DOES PALESTINE STAND UP FOR ITS CAPITAL MARKETS? The Palestine Exchange (PEX) has modern regulations for disclosure, trading, listing, membership, and settlement of disputes. Our regulator, the Palestine Capital Market Authority (PCMA) was established in 2004. It has obtained IOSCO full membership and keeps its legislation as per best practice in line with international standards. Palestine has a robust banking sector which supports a sound Palestinian capital market. The investment environment is liberal and there are no capital gains or dividends distribution taxes. The exchange has a diversified base of 49 listed companies in five sectors: banking and financial services; insurance; investment; industry; and services. The grand majority of those companies are profitable with average dividend yield and P/E for the last five years of 6.28% and 13.85% respectively. The technology used plays a vital role in having a stable and efficient capital market. Our trading, Depository and Surveillance systems are provided by NASDAQ OMX. We invest continuously in our IT infrastructure and that’s why we didn’t have any failure in trading or CDS over the last eight years. Our listed companies are obliged to follow the International Financial Reporting Standards (IFRS) in preparing their financial statements and the presence of the international big four accounting companies in Palestine helps in improving the quality of financial reporting. Finally the friendly environment vis-à-vis foreign investors, as there are no currency exchange or capital movement restrictions and no restrictions on foreign ownership. I believe these are the attractive factors of Palestine’s capital market.

PEX IS THE ONLY EXCHANGE IN MENA WITH SOLE PRIVATE OWNERSHIP. HOW WOULD YOU DEFINE THE MERITS AND CHALLENGES FOR THIS PARTICULAR ASPECT? The merits of being a private sector exchange include:

n The ability to create an entity in accordance with international best practice while being shielded from government bureaucracy and political meddling. n Separating the supervisory side, (the CMA, government), from the execution side, (the PEX, private sector), enhances the regulatory role of the CMA as one branch of the public sector isn’t merely supervising another. Private sector exchanges tend to understand the needs of the business sector and the listed companies and can act more forcefully against stifling regulation or inhibiting taxation laws. n Management flexibility, the exchange as a private sector entity is able to change managerial, organisational and technological structures while attracting top professional talent. n Better transparency due to legal and governance requirements unimpeded by political meddling. n Obtaining investor confidence at home and abroad by leveraging the private sector’s good reputation and relatively constant abilities. And the challenges can be summarised as: n The hesitation of some business groups to list their companies on an exchange that could be controlled by a rival investment company. In reality, any potential conflict of interest in this regard can be alleviated by a competent and powerful market regulator to ensure full transparency in the exchanges operations and governance. n Being a for-profit-company, the exchange might be tempted to focus on the business side rather than the regulatory side and engage in a race to the bottom in terms of listing quality and trading standards. Again, the reality is different, owners of an exchange company are well aware that credibility and confidence play a critical role in attracting listings and trading (and therefore revenues); probably more so had the exchange been government owned with little regard for profitability or economic feasibility. Here again, the presence of a competent regulatory authority helps in balancing business versus quality requirements. n Enforcing laws might be easier if the exchange is within the public sector (government exchanges rarely argue back with the regulator).

YOU HAVE DELIVERED A SUSTAINABLE ROW OF LISTINGS OVER THE RECENT YEARS. WE WONDER HOW THE INVESTORS RESPOND TO IPOS? We managed to list 15 new companies over the last five years three of which were established through IPOs and the response at that time was great; all three offerings were oversubscribed. I believe an IPO’s success, in any case, depends upon the nature of the company, its future prospects and its IPO marketing budget.

SOME OF THE GLOBAL AND EMERGING STOCK MARKETS AROUND THE WORLD ARE CRITICIZED DUE TO POOR DIVIDENDS POLICY. PEX IS ONE OF THE RARE GOOD EXAMPLES HERE. WHAT IS YOUR SILVER BULLET? PEX is blessed with its profitable listed companies. The grand majority of our listed companies have been profitable in 2014, about two-third of those companies distributed dividends in both cash and stocks of about $171m. I think dividend payment is a sign of a healthy financial position of a company and a way to reward the company’s shareholders and keep them engaged and interested in its stock.

WHAT ARE THE MEANS TO ENABLE THE LOCAL CAPITAL MARKETS TO DEVELOP FURTHER? Capital markets are correlated with the general economic conditions of a country, from our own experiment, we can say that to develop a capital market you need to have a developed legal environment that protects investors; tax reforms should be taken into account by having a tax free capital market to attract more investors. You also need to liberalise or open the capital market by allowing foreign investments to increase investors’ base and finally you need to develop the market size by channelling local pensions into the domestic capital market. Of course having a national code of governance to protect the interest of minority shareholders, strong disclosure rules and regulations to discipline misbehaviour will effectively support a local capital market that can efficiently allocate capital to support economic growth.

Federation of Euro-Asian Stock Exchanges, August 2015

TRADE SERVICES

ARAB BRITISH CHAMBER OF COMMERCE www.abcc.org.uk

FOREIGN OFFICE SERVICE

BUSINESS EVENTS

BUSINESS EVENTS, TRADE FAIRS AND CONFERENCES SPECIALITY & FINE FOOD FAIR – TRADE ONLY 6-8 September 2015 London Olympia Contact Emily Mosedale Event Co-ordinator Email: administration@montex.co.uk Tel: (020) 7886 3092 www.specialityandfinefoodfairs.co.uk 18TH ANNUAL GRI EUROPE SUMMIT 2015 10-11 September 2015 InterContinental Paris Le Grand France Contact Global Real Estate Institute (GRI) Tel: +44 20 7121 5060 Fax: +44 20 7388 8740 Email: info@globalrealestate.org Website: www.globalrealestate.org 5TH BASRAH INTERNATIONAL EXHIBITION FOR HOUSING AND BUILDING 10-13 September 2015 Basrah City, Iraq Contact Pyramids Group Tel: 00 964 77 0876 0504 Fax: +90 216 575 11 01/02 Email: samir@pyramidsfaireg.com GULF GLASS The only glass industry in the MENA region 14 - 16 Sept 2015 Dubai World Trade Centre, Dubai, UAE Contact DMG World Media Dubai Ltd Maude Aimee Tel: +971 4 445 3705 Email: maudeaimee@dmgeventsme.com Website: www.gulf.glass MATERIALS HANDLING MIDDLE EAST The region’s largest exhibition for the warehousing, supply chain, and logistics industries 14 - 16 Sep 2015 Dubai World Trade Centre, UAE Contact Dubai World Trade Centre PO Box 9292 Dubai Tel: +971 (0)4 332 1000 Email: info@dwtc.com Website: www.dwtc.com PAPER ARABIA Exhibition for Paper, Packaging and Printing 14 - 16 Sept 2015 Dubai World Trade Centre, UAE Contact Al Fajer Information & Services PO Box 11183 Dubai, UAE Tel: +971 4 340 6888 Fax: +971 4 340 3608 Website: www.paperarabia.com THE 5TH ANNUAL SANTANDER INTERNATIONAL DESK CONFERENCE 2.30pm-7.30pm, Monday 21 September 2015 Canning House, 15 Belgrave Square, London, SW1X 8PS Contact John Carroll

Head of International Santander UK Email: international.events@santander.co.uk MENA Power and Water Summit 2015 27-28 September 2015 Dubai, UAE Contact Exhibeo Business Group Email: info@exhibeogroup.com http://exhibeogroup.com INCOTERMS - ALL YOU NEED TO KNOW 9.30 am – 1.00 pm, Tuesday 29 September 2015 Addleshaw Goddard, Sovereign House, Sovereign St, Leeds LS1 1HQ Contact Chamber International Tel: +44 (0)845 034 7200 Email: hayleyn@chamber-international.com www.chamber-international.com WE ARE INTERNATIONAL Seminar for anyone who wants to start exporting or to be inspired to go global and grow 30 September 2015 Deloitte LLP, City Square, Park Row, Leeds, West Yorkshire LS1 2AL Contact Chamber International Tel: +44(0)845 034 7200 Email: info@chamber-international.com Website: www.chamber-international.com MOROCCO INDUSTRY EXPO Morocco International Building, Construction & Industry Exhibition 5-8 October 2015 Morocco Contact Pyramids Group Tel: +90 216 575 28 28 Fax: +90 216 575 11 01/02 Email: info@pyramidsfair.com www.moroccoindustryexpo.com MOROCCO ENERGY EXCHANGE The Waldorf Astoria Edinburgh – The Caledonian, Edinburgh 12 October 2015 Contact Lauren Andrews Marketing Manager, CbI Meetings Tel: +44 (0)1424 721 667 Email: lauren@cbi-research.com INTERBUILD JORDAN FAIR 2015 8th Fair & Conference for Construction Technologies, Building Industry, Architecture, Decoration, Lighting, Building Installation Techniques, HVAC & R 12-14 October 2015 Halls of Zara Expo 3rd Cycle near Grand Hyatt Amman Hotel Amman, Jordan Contact Golden Gate for Exhibitions PO Box 340 Amman 11941 Al-Jubeiha, Jordan Tel: +962 6 565 8501 Email: info@jordan-fairs.com Website: www.jordan-fairs.com

IOE INAUGURAL GREEN LIGHT TO EXPORT CONFERENCE Thursday, 15 October from 9.15am-4pm Hilton Metropole Hotel, Birmingham NEC Contact The Institute of Export Export House Minerva Business Park, Lynch Wood Peterborough Cambridgeshire Tel: +44(0)1733 - 404400 Fax: +44(0)1733 – 404444 www.export.org.uk/contact-us CAIRO BUILD 3rd International Building, Construction, Municipal Equipment and Natural Stone Exhibition 15-18 October 2015 Contact Pyramids Group Tel: +90 216 575 28 28 Fax: +90 216 575 11 01/02 Email: info@pyramidsfair.com Website: www.pyramidsfair.com/pyramids-group/ EXPORT DOCUMENTATION Accredited by the British Chambers of Commerce 21 October 2015 Bradford Chamber Business Park, Bradford Contact Chamber International Tel: +44(0)845 034 7200 Email: info@chamber-international.com Website: www.chamber-international.com UKTI MARKET VISIT TO DUBAI AND ABU DHABI – CONSTRUCTION & INFRASTRUCTURE SECTORS 22-26 November 2015 Market Visits & Overseas Exhibitions enable companies to understand their international market better. The visits enable delegates to meet potential contacts, and showcase their products or services to new audiences. UKTI supports companies to attend these programmes through a range of funding Contact UKTI Market Visits Email: missions@uktilondon.org.uk Tel: +44(0)20 7089 2327 www.gov.uk/ukti SHALE GAS ENVIRONMENTAL SUMMIT Providing a platform for discourse on current developments in the industry Holiday Inn Kensington Forum, London 26-27 October 2015 Contact Andrew Gibbons SMi Group Tel: +44 (0) 207 827 6156 Email: agibbons@smi-online.co.uk www.shalegassummit.co.uk SAUDI BUILD The 27th International Trade Exhibition for Construction Materials &Equipment & Environmental Technology 26-29 October 2015 Riyadh International Convention & Exhibition Centre, KSA Contact Riyadh Exhibition Company Ltd PO Box 56010

BUSINESS EVENTS

Riyadh 11554 Kingdom of Saudi Arabia Tel: +966 1 2295604 Email: info@recexpo.com Website: www.recexpo.com SAUDI STONE-TECH 18th International Trade Exhibition for Stone & Stone Technology 26-29 October 2015 Riyadh International Convention & Exhibition Centre, KSA Contact Riyadh Exhibition Company Ltd PO Box 56010 Riyadh 11554 Tel: +966 1 2295604 Email: info@recexpo.com Website: www.recexpo.com THE MIDDLE EAST FORUM 27 October 2015 11th Floor, 6 Mitre Passage, Peninsula Square London SE10 0ER Contact Global Diplomatic Forum Tel: +44 (0) 208 853 3293 Email: ydf@gdforum.org Website: www.gdforum.org/ OIL AND GAS CYBER SECURITY 30 November - 1 December 2015 Holiday Inn Kensington Forum, London Contact Andre Brown Tel: +44 (0) 20 7827 6058 Email: abrown@smi-online.co.uk www.oilandgas-cybersecurity.co.uk

TRANSFORMING AFRICAN ECONOMIES FOR GLOBAL COMPETITIVENESS Global African Investment Summit 1-2 December 2015 Central Hall, Westminster, London Contact TGAIS Email: programme@tgais.com Tel: +44 (0)203 772 6022 Website: www.tgais.com

ARAB HEALTH 2016 The largest Medical Technology Exhibition in the Middle East 25 - 28 January 2016 Dubai, UAE Contact Association of British Healthcare Industries Limited 250 Waterloo Road London Tel: +44 (0)20 7960 4360 Fax: +44 (0)20 7960 4361 www.abhi.org.uk/

Erbil International Exhibition for Construction & Masterplan 1-4 December 2015 Erbil, Iraq Contact Pyramids Group Tel: 00 964 77 1626 6965 Email: info@pyramidsfaireg.com www.pyramidsfair.com/contact/ A SUSTAINABLE FOOD FUTURE - PRODUCTION, SUPPLY AND CONSUMPTION 7 - 8 December 2015 Chatham House, London Contact Daniel Mitchelmore Chatham House Tel: +44 (0)20 7314 2785 Email: conferences@chathamhouse.org www.chathamhouse.org/

INTERNATIONAL FAIR OF KHARTOUM Trade Fair for Industrial, Agricultural Machinery, IT, Energy & Mines, Clothing, Building Materials and Medical Supplies 25 January â&#x20AC;&#x201C; 1 February 2016 Fair Ground, Khartoum Contact Sudanese Free Zones & Markets Co Ltd PO Box 2366 Khartoum, Sudan Tel: +249 183 26 36 24 Fax: +249 183 26 36 37 Email: info@ifksudan.com http://ifksudan.com/en/#

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Europe Arab Bank is uniquely positioned to help your business take advantage of Europe and North America trade flow and investment opportunities in MENA. As part of the Arab Bank Group, with the largest banking network in the Arab region, you gain seamless access to 16 MENA countries and a network of 600 branches around the world. Learn more: www.eabplc.com +44 20 7315 8500 ÂŠ Europe Arab Bank plc 2014 All Rights Reserved. Registered in England and Wales number 5575857. Registered Office: 13-15 Moorgate, London EC2R 6AD. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Not all products and services are regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

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