Category: Uncategorized

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

To boldly go: A new state-led, UAE-based space agency aims to send an unmanned probe to Mars

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In July 2014 the UAE’s leaders announced the launch of a full-fledged space exploration programme. The establishment of the UAE Space Agency (UAESA) followed more than a decade of development activities in aerospace engineering and satellite communications, and is at the centre of a long-term plan to build Emirati capabilities “in the fields of aerospace and space exploration, to enter the space industry, and to make use of space technology in a way that enhances the country’s development plans”, according to the UAE’s president, Khalifa bin Zayed Al Nahyan. The UAESA’s first objective is an unmanned mission to Mars, which is scheduled to take place

George Richani-CEO-Al Ahli Bank of Kuwait

Screen grab: New data about television viewing habits bodes well for broadcasters and advertisers

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The UAE’s television industry has undergone an important shift in the way it conducts business, not to mention a sea change for the regional advertising market, following years growing viewership. “Electronic audience measurement is the default system in more than 60 countries around the world,” Christopher O’Hearn, general manager of the Emirates Media Measurement Company (EMMC), a firm responsible for data collection technology called tview, told local media in 2014. “By introducing it to the UAE, tview allows broadcasters and advertisers to make like-for-like comparisons of their return on investment and ultimately will lead to significant growth in what is generally agreed to be an

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

Risk management: Federal credit bureau aims to boost confidence in the system

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One sign of enduring strength in Dubai’s credit markets is that multiple obstacles have not hindered growth. This includes external factors, such as lower oil prices and a recent history of credit struggles. In the past year, another challenge to lending growth has been Al Etihad Credit Bureau. While in the long term this new actor is expected to enhance the lending market by helping banks to manage risk, in the early stages of a credit bureau’s introduction into a financial system, the sudden focus on consumer risks is often a disincentive to lend. Moving Forward Banks are now obliged to conduct credit-specific background checks

Peter Wong-Deputy Chairman and Chief Executive-HSBC

Bond rush: Regional bond market activity reaches unprecedented heights

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A combination of factors has led to a rise in bond issuances from GCC member states across the first half of 2016. Over the period, bonds and sukuk (Islamic bonds) issued in the GCC hit $39bn, accounting for 15% of the region’s total outstanding bonds ($263bn) as of June 2016, and nearly equalling the value of issues in the whole of 2015. At a value of bn, sovereign bonds accounted for 51% of the new debt. (https://romantichoneymoonisland.com) Supply & Demand  A number of elements have coincided to catalyse this bond boom. First and foremost is the desire for financing in GCC nations, which were all

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

Conserving resources: Policymakers are looking to reduce costs by encouraging efficient consumption and rationalising subsidies

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Across the GCC, spending cuts have come to the forefront of fiscal discussions as hydrocarbons exports continue to fetch lower prices on global markets, resulting in decreased revenues. Subsidies, in particular, have been on the chopping block. In January 2016, Qatar announced plans to raise petrol prices by 30% to help address its expected budget deficit of $12.8bn for the 2016 fiscal year. Its state fuel company, Woqod, correspondingly announced price hikes from $0.27 to $0.36 per litre of high-octane fuel. The move was only

Theo Williams-Country Manager-AJEAST Nigeria

Strong prospects: The life segment is poised for significant expansion

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Life insurance which has been the largest component of Indonesia’s insurance industry in recent years, recorded a significant decline in revenues in 2015. According to the Indonesia Life Insurance Association (AAJI), in the first nine months of 2015 the life insurance segment saw revenues decline by 26.3% in total, on the back of a 152.7% drop in investment yields. Indonesia’s life underwriters rely heavily on investment-linked products (ILPs), which, due to volatility on the Indonesia Stock Exchange (IDX) and a sharp fall in the rupiah, saw downward pressure in 2015. More broadly, the decline in oil prices since mid-2014, as well as slowing Chinese demand

Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

Growth driver: Sustained growth makes the food and beverages industry a priority for spending and investment

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The combination of Indonesia’s 250m-strong population and its robust agriculture and fisheries sector create an almost ideal operating environment for the food and beverage industry. These opportunities have not been lost on international or local companies, and the segment continues to attract some of the most significant investment of any industrial segment. The segment’s relevance for Indonesia is apparent, not only in its role of providing sustenance for the country’s growing population, but also for its significant contribution to the economy – food and beverage

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

Click to purchase: The e-commerce segment is widely considered to be a key driver of growth

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With one of the fastest rates of internet uptake in the world and the largest economy in South-east Asia, Indonesia has witnessed the rapid expansion of its e-commerce segment over the past decade. According to a 2015 report published by the Indonesian E-commerce Association (idEA), between 2011 and 2015 online sales in the country expanded at a compound annual growth rate (CAGR) of nearly 69% for the period. In early 2016 Indonesia’s Ministry of Communication and Information Technology (MCIT) announced that the total value of the e-commerce segment was expected to be worth over $130bn by 2020, making it one of the region’s largest. By

Pham Hong Hai-CEO-HSBC Vietnam

Concrete proposals: Cement sales have increased rapidly in recent years, with 2016 set to follow that trend

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The cement industry in Indonesia is set to reach new highs in 2016, as the government’s expansive infrastructure agenda drives domestic demand and sales growth across the country. Existing producers are rushing to increase capacity with the launch of new facilities, while a host of new foreign players has also entered the market in recent years, bolstering production capacity and foreign direct investment (FDI) inflows, and helping the country to overtake Vietnam as the leading regional cement producer. Domestic Strength  Domestic cement sales have recorded

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

Turning tide: Updated legislation has led to a pipeline of renewable projects

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Renewable energy has long been a core part of the electricity mix in Nigeria, with its three hydroelectric dams contributing around 20% of power supply. However, with the passing of a new national renewable energy policy, including targets and feed-in tariffs for various forms of renewables, the country hopes to take an even bigger step. The goal is to source 10% of renewable energy from sources other than large-scale hydro by 2020, an objective outlined in the National Energy Masterplan. That implies a total of 2000 MW of new, renewables-based generation. The Law  The National Renewable Energy and Energy Efficiency Policy became law in 2015