Category: Uncategorized

George Richani-CEO-Al Ahli Bank of Kuwait

Powering up: Rising demand fuels a range of investments in electricity and other public infrastructure

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The rapid growth in Bahrain’s population presents considerable challenges for the private and state providers supplying utilities. As well as routine work to replace, refurbish and improve existing power, water and sewage networks, providers are also required to expand their networks to serve new communities that are being constructed. Even as it works to keep pace with today’s demand levels, the government is also planning ahead to meet the anticipated demands of the country in five to 10 years’ time, particularly when it comes to

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

Going places: The transport network is set for further expansion

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Since August 2015, red single-decker buses have become increasingly common in Bahrain as the Public Transport Network (PTN), launched four months earlier, expanded to 32 routes to cover 77% of the population. The Ministry of Transport and Telecommunications (MTT) declared the event a “key milestone” in the development of an integrated public transport network envisaged in Bahrain’s Economic Vision 2030. However, the MTT, the Ministry of Works (MoW) and other government agencies are appraising plans that to give residents and visitors a greater choice of transport options. Bus Network There were 35 buses operating on 12 routes in the kingdom before the PTN was introduced

George Richani-CEO-Al Ahli Bank of Kuwait

Timing investment: Adding a sixth production line in preparation for a recovery in aluminium prices

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As Aluminium Bahrain (Alba) celebrates the 45th anniversary of aluminium production in Bahrain, the firm is looking to the future and working on the construction of its sixth pot line, an expansion plan that will make the company the world’s largest single-site smelter. A few weeks after Alba announced it would be going ahead with the expansion in July 2015, the company released its half-year results. Total sales were up by 8% year-on-year to BD405.9m ($1.1bn) and net income for the same period was up 107% to BD66.9m ($176.2m). The firm reported that global demand for aluminium had grown 5%. However, first-half 2015 figures also

George Richani-CEO-Al Ahli Bank of Kuwait

Business boom: Rehabilitating the real estate development sector

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Over the past two decades, Bahrain has witnessed an emergence of a number of large-scale real estate development projects that have had a positive impact on the national economy and created countless job opportunities alongside attracting foreign investment to the kingdom. However, what was to be a carefully supervised and highly profitable market has in fact created an overflow of disputes in the Bahrain courts system, for the most part arising from the sale of properties on blueprints to investors whereby attainment of all the necessary government approvals are usually not required at that point of sale. This gave rise to the issue of developers

Pham Hong Hai-CEO-HSBC Vietnam

A hidden gem: The natural beauty of Mergui has caught the eye of developers

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Deep in the south of Myanmar, the Mergui Archipelago is almost off the map. Mostly uninhabited, the islands are home to around 2000 people, mostly Moken, known as “sea gypsies”, many of whom are skilled divers and fishermen living a semi-nomadic lifestyle. Some of the roughly 800 limestone and granite islands are just rocks jutting out of the sea, while others are clad with untouched forest and fringed by white sandy beaches. With its natural beauty, this Andaman Sea archipelago is attracting attention and could be the next frontier in Myanmar tourism. Attractive Although the Myanmar Tourism Master Plan 2013-20 (MTMP) makes no reference to

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

Dressed for success: Fast fashion retailers are gaining popularity among consumers

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The fast fashion business model has revolutionised the apparel industry. By streamlining design, production and distribution, the latest clothing trends can be transferred from the catwalk to the sales rack in a matter of weeks. One of the keys to the success of the model is the near-shoring of suppliers. Inditex, owner of numerous brands including Zara, Pull & Bear, and Massimo Dutti, maintains a network of designers and key suppliers in La Coruña, Spain and has manufacturing facilities in Morocco and Turkey, as well as Asia. New garments can be rapidly produced in small batches and the most successful items can be mass-produced to

Peter Wong-Deputy Chairman and Chief Executive-HSBC

Rent now, own later: A new leasing law should raise the number of homeowners

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Although slower demand affected home sales in Peru in 2014 and 2015, stakeholders are hoping that a recently approved rent-to-lease law will have a positive impact. President Ollanta Humala signed the bill into law in July 2015, and the market is anticipating the new regulation to act on three fronts: encouraging banks to raise the level of mortgage lending, increasing the number of families that can save money for a downpayment and spurring developers to continue construction of new homes as existing demand translates into a rise in sales. In 2014 home sales took a tumble, falling 40% compared to 2013, according to the Peruvian

Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

Focus on food security: GCC nations are working to improve logistics and supply chains as well as secure farmland overseas

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Since Saudi Arabia began reducing its domestic wheat production in 2008, the issue of food security has been high on the agenda for GCC governments. The kingdom, which was once self-sufficient in the grain and even exported to the wider region, recognised a fact that is true across the whole of the Arabian Peninsula. It is running out of water and local production of many agricultural products is unsustainable. As the preservation of dwindling water supplies trumps a secure domestic source of food, Gulf countries

Ahlibank: Banking

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The Company The publicly listed Ahlibank is engaged in commercial banking activities in Oman through a network of 19 branches. It was formed in November 2007 when Ahli United Bank (AUB) acquired a 35% stake in Alliance Housing Bank, a specialised mortgage finance provider. AUB acquired the stake by way of full subscription of Alliance Housing Bank’s capital increase for a total capital consideration of OR50.9m ($131.8m). AUB also signed an agreement for management control for five years. Since the acquisition, Ahlibank has diversified its business portfolio to become a fully fledged commercial bank, including retail finance, corporate finance and trade finance. As of December

Peter Wong-Deputy Chairman and Chief Executive-HSBC

Branching out: New investment is set to transform the downstream gas sector

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Two forthcoming infrastructure investments are set to substantially broaden the Omani downstream gas sector, creating opportunities for new export markets and new domestic industries. The two projects, which will see an estimated $3.6bn of investment, will be based at either end of the country. The first, a liquefied petroleum gas plant to be located in the port town of Salalah, will have a capacity to produce 327,000 tonnes of natural gas derivatives per year, including 153,000 tonnes of propane, 115,000 tonnes of butane and 59,000 tonnes of light condensate. (hypecloth.com) The second project will be located further north at Fahud. The natural gas liquids plant