Author: OBG Admin

George Richani-CEO-Al Ahli Bank of Kuwait

A profitable lesson: Private institutions are drawing the attention of financiers

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The UAE’s private education sector is rapidly expanding and Ras Al Khaimah is no exception – as its population rises against a backdrop of economic development, the emirate has seen a number of new private schools open of late, particularly in the post-secondary segment. A focus on science, technology, engineering and maths (STEM) training has benefitted the K-12 and post-secondary segments. Private Market Expansion Although all Emiratis are provided free, state-funded education up to the post-secondary level, the UAE’s expanding expatriate population is unable to utilise this system and has thus driven growth in its private school market. According to a July 2014 report published

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

On the island: Further progress is expected on a major resort development

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When three new hotels with a combined key count of 1440 opened on Al Marjan Island in 2014, Ras Al Khaimah’s new resort destination came to life. Indeed, developers hope to see the area grow substantially in the next few years as a mixed development of holiday homes, restaurants, bars, marinas and up to 20 hotels that will together make a significant contribution to the emirate’s economy and change the shape of its hospitality sector. New Hotels The first hotel to open on the islands, in January 2014, was the DoubleTree by Hilton Resort and Spa with 484 keys. The facility is situated on what

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

On track: Efforts to develop and promote the sector are ongoing

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The tourism industry hit a high note in 2014, with revenues surpassing Dh1bn ($272.2m) and the total number of overnight stays by guests growing by 72% over 2013 to reach 2.14m. As the government intensifies efforts to develop and promote the tourism sector, in line with Sheikh Saud bin Saqr Al Qasimi’s long-term vision for economic diversification, the sector is hoping to attract an increasingly wide range of regional and global visitors. At the same time, budget carrier Air Arabia launched intra-GCC services to RAK International Airport from May 2014, while the emirate’s flagship Al Marjan Island development witnessed a surge in new hotel rooms

George Richani-CEO-Al Ahli Bank of Kuwait

Levelling the playing field: Price reductions and increased competition seen as initial results of reform

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Recent regulatory reforms are starting to produce results in Mexico’s telecoms sector. Although a new legislative bill was signed into law by President Enrique Peña Nieto in June 2013, it was not until mid-2014 that the secondary laws were implemented. (https://canablue.com) The new laws were put in place as a way to curb the supremacy of Amé rica Móvil, which was declared a dominant player by the new sector regulator in 2014 due to its control of over 70% of the mobile telecoms market and

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Wealth of possibilities: A rich supply of natural resources supports the burgeoning mining sector

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Contributing around 5% to the country’s total GDP in 2013, Mexico’s mining sector is among the top 10 world producers for at least 16 minerals. The country is the global leader in silver production and is the tenth-largest copper producer, according to the Mexican Mining Chamber (Cámara Minera de México, Camimex). With a wealth of natural resources, the country is dependent on the mining sector as an important source of income. According to the Mining Development Programme (Prodemin) and the 2014 Camimex annual report, the mining industry will represent the fifth-largest source of external income. Investing For The Future The value of the sector is

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Joining forces: The public and private sectors are working together to develop medical tourism

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Competitive prices, proximity to high-potential markets and a number of hospitals recognised by the Joint Commission International are some of the factors that make Mexico a key player in the global medical tourism industry. According to the investment promotion agency ProMéxico, the segment has posted continuous growth for almost a decade, reaching an estimated $3.08bn in revenues in 2014, up 8% from $2.84bn in 2013, and nearly double the revenues reached in 2006 ($1.55bn). With its sights set on becoming a global reference country in the segment, Mexican authorities, in conjunction with the private sector, are working to develop a coherent strategy to boost industry

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Partners in progress: Mexico looks to the Pacific Rim to expand its economy

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Redefining Mexico’s position in the world, notably by strengthening ties with the Asia-Pacific region, is one of the overarching goals of President Enrique Peña Nieto’s key structural reforms to transform the country into a modern, competitive economy. In order to increase its trade capacity in the region, Mexico became a party to the Trans-Pacific Partnership (TPP) in 2012, an ambitious regional free trade agreement agreed between 12 countries in North and South America and Asia, in October 2015. The TPP aims to liberalise trade in goods and services by reducing tariffs and other barriers in an effort to open markets, while also setting standards on

Mohammed El Etreby-Chairman-Banque Misr

Putting people first: Education reforms are set to help assure future growth

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A raft of structural reforms, aimed at improving competition and efficiency, is being implemented in Mexico in an effort to boost the economy. The impact of these reforms – 11 in total – is expected to be felt increasingly across a number of economic sectors, especially in energy, telecoms and financial services, with taxation, transparency, competition and labour among the areas specifically targeted. Although the full benefits have yet to materialise, the economy is poised for a considerable boost as changes are implemented. While the 2015 mid-term election results allow the current administration to focus on implementing the reforms without political opposition in Congress, capacity

Peter Wong-Deputy Chairman and Chief Executive-HSBC

Measuring up: Fiscal austerity planned for 2015 and 2016

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The sharp decline in international oil prices has forced the government to cut its fiscal spending plans for 2015 and 2016. In part this is because the administration has already committed itself to introducing no further tax increases in 2015, following the hikes that took place at the beginning of 2014 as part of the structural reform programme. The deficit can therefore only be reduced by an adjustment on the spending side. The finance minister, Luis Videgaray, is seeking to do this and to maintain his reputation for fiscal responsibility. He has also decided to introduce a zero-based budget exercise in 2016, an initiative that

Xi Jinping-President of China

Project capital: Infrastructure will benefit from the Fibra E investment vehicle

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As announced during President Enrique Peña Nieto’s state-of-the-union speech in September 2015, Mexico is launching a new energy and infrastructure investment vehicle known as the Fibra E. The new instrument aims to meet one of the country’s current financing challenges. Despite being ready to move on a wide range of major, long-term and profitable infrastructure projects, Mexico faces a short-term squeeze on public sector capital expenditure due to fiscal austerity triggered in part by low oil prices. The Fibra E is designed as a new way of attracting private investors to help bridge the financing gap. Hybrid Product The vehicle is a hybrid that draws