Category: Uncategorized

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

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

Sovereign bond market: 20 years on, Mexico becomes an emerging market success story

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In the 20 years since the Tequila Crisis, Mexico has undergone an impressive transformation. The implementation of sound macroeconomic policies has been welcomed by global investors, resulting in greater confidence in the country’s credit risk profile, while recent structural reforms are expected to boost growth, investment and competition. Mexico has emerged as an attractive market for investors seeking balanced strategies in an emerging market context – namely, interesting yields and well-contained risk. The country has been classified as investment grade by major ratings agencies, with an “A3” rating from Moody’s and a “BBB+” by Standard & Poor’s and Fitch, and is headed towards a select

Mabanee: Real estate

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THE COMPANY: Mabanee is a shareholding real estate firm that is widely recognised for owning The Avenues Mall. It was listed on the Kuwait Stock Exchange in November 1999 and is currently the largest real estate company in the country, with a market capitalisation of KD824m ($2.84bn), representing around a third of the Kuwaiti real estate sector. The Avenues is planned to include four phases, three of which are currently operational. The most recent phase ended in 2012 at a total cost of KD171m ($589.12m). The current occupancy for all three phases is 100%. Phase four of the mall is currently being planned and will

National Bank of Kuwait: Banking

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THE COMPANY: Recognised as the leader in the local banking industry, National Bank of Kuwait (NBK) was established in 1952 as the first local and national bank, and the first joint stock company in Kuwait and the Gulf region. NBK is the largest financial institution in Kuwait with total assets of KD21.8bn ($75.1bn) and the top market share at around 32% of banking services. NBK has steadily earned the highest credit ratings among Middle Eastern banks from international agencies in recognition of its high quality of assets, strong financial performance and solid capital base. Moody’s, Fitch Ratings and Standard & Poor’s have assigned NBK long-term

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

An eye online: Cybersecurity gets more attention in the region

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Regional and global trends indicate people are conducting an increasing number of transactions over digital networks and storing more of their data online. This has shifted the security requirements of governments, corporations and citizens alike, as high-profile security breaches at large corporations and government offices around the globe have brought the issue of securing digital content into focus over the past decade. Kuwait, which depends heavily on its oil and gas industry, is particularly aware of the need to improve the protection of its assets and information through a greater focus on digital safeguards and cybersecurity. The Kuwait Petroleum Corporation – the country’s national oil

George Richani-CEO-Al Ahli Bank of Kuwait

The right dose: Demand for pharmaceuticals is set to rise as the population ages

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Kuwait is set to witness significant demographic changes over the coming decades, with far-reaching consequences for the local pharmaceuticals industry. High birth rates and continued immigration mean that the population is increasing in absolute terms and is set to reach 4m by 2020 and 6.3m by 2050, according to estimates by the UN’s Economic and Social Commission for West Asia. The population is slowly ageing: birth rates have fallen steadily, from 5.1 children born per woman in 1982 to 2.6 in 2012, according to World Bank indicators. At the same time, life expectancy continues to rise. Although figures from Kuwait alone are not available, the

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

Substantial investment: A series of mega-projects are set to boost hospital capacity

Posted OBG AdminPosted in Uncategorized

Kuwait’s overall development strategy is contained in a government plan known as Kuwait Vision 2035. Health care forms a big part of Vision 2035, with the government placing belief in the relationship between a healthy economy and a healthy workforce. Furthermore, while birth rates in Kuwait remain high compared to many Western countries (2.6 children born per woman in 2013, according to World Bank figures), a combination of falling birth rates and longer life expectancy means that the country’s demographic profile is set to age: in the GCC as a whole, the proportion of over 65s is set to rise from around 2% in 2015

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

On the front lines: Enhancing the Kingdom’s cybersecurity readiness

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The growing security threat posed by cyber-attacks as Saudi Arabia becomes ever more reliant on IT has led to the development of a national information security strategy (NISS) and increasing investment in cybersecurity. Demand for cybersecurity products comes from both the government and private sectors. “Cybersecurity is big business in Saudi Arabia. All the major companies have dedicated significant budgets to ensuring they have the proper protection,” Jean Yves Tolot, CEO of the electronic security firm Thales, told OBG. This has drawn a large number of multinational IT and security companies to the market, with some of them forming innovative partnerships with local IT and

Pham Hong Hai-CEO-HSBC Vietnam

Record levels: With remittances continuing to grow, banks are tapping into the market for money transfer services

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According to a statistical bulletin released by the Saudi Arabia Monetary Authority (SAMA) in early 2015, the amount of money remitted by expatriates in 2014 reached a record high. In total, SR153.3bn ($40.9bn) was transferred to the home countries of the nation’s foreign labour force, representing a rise of 3.6% over the previous year. Data published by the UN Economic and Social Commission for Western Asia (ESCWA) show that 1.2 people arrived in the country per 1000 population between 2005 and 2010 – a trend