Saudi Businesswoman Lubna Olayan to Speak in Nadia Younes Memorial Lecture at AUC WHAT

WHAT

Nadia Younes Memorial Lecture titled, “A Vision for the Rising Arab Generation,” organized by The American University in Cairo (AUC). The lecture will discuss the increase in youth demographics, social impact of refugees’ crisis, economic issues and how these topics affect and lead to problems with access to education, brain drain and lack of female participation. The lecture will also look into the different ways to overcome these obstacles through investing in sustainable growth initiatives, female empowerment and fostering innovation and entrepreneurship.

The lecture is part of the Nadia Younes Memorial Fund, which was established in honor and memory of Nadia Younes, who was tragically killed in the bombing of the United Nations headquarters in Baghdad on August 19, 2003, while she was serving as chief of staff to Sérgio Vieira de Mello. In addition to the annual series, the fund has helped establish the Nadia Younes Conference Room, which serves Cairo International Model United Nations members, and the Nadia Younes Award for Public and Humanitarian Service.

The Nadia Younes Memorial Lecture invites renowned international figures in the fields of politics, international relations and humanitarian affairs to speak at AUC. Past speakers have included Kofi Annan (2005), former secretary-general of the United Nations; Dr. Bernard Kouchner (2006), former foreign minister of France and co-founder of Médecins Sans Frontières; Mary Robinson (2007), former president of Ireland and the first female to assume that post; Dr. Gro Harlem Brundtland (2012), former prime minister of Norway, former director-general of the World Health Organization and founder of the sustainability movement; Nabil Elaraby (2013), secretary-general of the League of Arab States; Nabil Fahmy (2014), Egypt’s former foreign minister and dean of AUC’s School of Global Affairs and Public Policy and Michael Møller, UN under-secretary-general (2015); in addition to many other prominent speakers and global leaders.






WHO

The speaker is Lubna S. Olayan, CEO and deputy chairman of Olayan Financing Company. In 2004, Olayan became the first woman to join the board of a publicly listed Saudi company when she was elected to the board of directors of Saudi Hollandi Bank (now Alawwal Bank), where she currently serves as vice chair. Olayan is a trustee of the King Abdullah University of Science and Technology (KAUST), as well as the Asia Business Council. In addition, she chairs the UK-based Alfanar, the first venture philanthropy organization working exclusively in the Arab world. In recognition of her accomplishments, Olayan was named by Forbes as one of The World’s 100 Most Powerful Women in 2016 and 2017, and she was among Time magazine’s 2005 list of the world’s 100 most influential people.




WHERE

Moataz Al Alfi Hall, AUC New Cairo



WHEN



Monday, March 12, 2018; 6:00 to 9:00pm

Gulf Navigation increases its capital through trading rights issue

The move helps major investors increase their shares in the company’s capital and enables Gulf Navigation to get necessary funds for short-term strategic expansions



Dubai, UAE, 6th March 2018: During its meeting held yesterday, the Board of Directors of the Gulf Navigation Holding (PJSC) approved the trading of the rights issued last February to the company’s existing shareholders, without publicly offering the remaining shares. The company's capital now stands at AED 919,209,250. The move is in line with the company’s interim strategy to expand its services and gradually increase the size of its fleet to keep up with upcoming contracts and expansion projects, considering its future expansion plans.

Gulf Navigation Holding announced a maximum of AED 488 million in capital increase through trading of the rights issue from 11 February to 1 March 2018 with a total value of AED 367,542,584. The company’s capital after increase is AED 919,209,250 distributed to 919,209,250 shares at a nominal value of AED 1 per share. The UAE nationals have contributed to 95% of the shares, GCC citizens to 2%, and other nationalities to 3%.

Gulf Navigation decided to settle for what key shareholders have covered because the company has a stage-based operational plan and is gradually increasing its assets and resources. The company's current revenues have been growing significantly thanks to the wise procedures taken by the new management that have led the company to make profits and grow its assets.

H.E. Khamis Juma Buamim, Board Member and MD & Group CEO of Gulf Navigation Holding Group, said, "We have developed our strategic plan, which was approved by the Board of Directors, to be gradual in its growth and assets and is implemented in stages. Since we started executing our strategic plan in mid-2016, we have succeeded in achieving steady progress in revenues. Our progress has encouraged our major investors to increase their shares in the company through trading rights issue, which has been conducted successfully. Our shareholders who wanted to increase their shares in the capital achieved their goals and we are thankful for their trust on us.”

"The amount collected in the capital increase is equal to 82%. This is sufficient to cover the company's interim expansion plans and increase its assets over the short term. Therefore, The Board of Directors has decided to settle for the amount collected from existing shareholders and not go for public offering. The objective of the public offering was to fulfil the need of major shareholders to increase their share in the company. I am very grateful to all those who participated in the rights issue, especially Tabarak Investment, who expressed their great confidence in Gulf Navigation and its strategic plan. We promise our shareholders to be always up to their trust. Based on the directives of the Board of Directors, the company will continue its expansion and increase its assets," added Buamim.



Among the key achievements of the company's new strategic plan was the full restructuring of the company, the settlement of all previous debts and financial and legal issues, and signing agreements and strategic partnerships to launch one of the largest maritime service companies for the oil and gas sector and maritime services in the region. The company has also developed and expanded its services and business including the geographical area of ​​its business, adding two petrochemical carriers to its assets, and refinancing of the petrochemicals carriers. It also succeeded in enhancing its business portfolio and entering into negotiations to acquire new vessels and large shares in regional and international companies to diversify its sources of income and business.

الخليج للملاحة تحقق زيادة رأس مالها عن طريق اكتتاب حقوق الألوية

حيث تحقق تلك الخطوة أهداف كبار المستثمرين في زيادة نصيبهم من رأس المال، كما ستتمكن الشركة عن طريق تحصيلات الاكتتاب من الحصول على التمويل اللازم لتنفيذ التوسعات على المدى القصير من خطتها الاستراتيجية

دبي -الإمارات العربية المتحدة-06 مارس-2018: تماشياً مع استراتيجيتها المرحلية في توسيع خدماتها وزيادة حجم أسطولها بشكل متدرج يتوافق مع القدرة الاستيعابية للعقود ومشروعات التوسع المتوقعة، وبعد النظر في الخطط المستقبلية قرر مجلس إدارة مجموعة الخليج للملاحة القابضة (ش.م.ع) خلال اجتماعه الذي انعقد أمس بما تم الاكتتاب فيه من أسهم الزيادة في رأس مال الشركة من السادة مساهمي الشركة ومالكي الحقوق الذي طرحته الشركة خلا شهر فبراير الماضي للمساهمين ومالكي الحقوق، دون طرح الأسهم المتبقية للاكتتاب العام. وبذلك يصبح رأس مال الشركة 919.209.250 درهم إماراتي.

وقد قامت مجموعة الخليج للملاحة القابضة بالإعلان عن طرح أسهم زيادة رأس المال وقيمتها في الحد الأقصى 448 مليون درهم عن طريق اكتتاب حقوق الأولوية، وقد امتد الاكتتاب من تاريخ 11 فبراير وحتى 1 مارس 2018، حيث بلغت قيمة الأسهم المكتتب بها 367.542.584 درهم إماراتي، ليصبح بذلك رأس مال الشركة بعد الزيادة 919.209.250 درهم اماراتي، موزعة على 919.209.250 سهم بقيمة إسمية درهم إماراتي واحد للسهم، حيث أكتتب مواطني دولة الإمارات العربية المتحدة بنسبة 95 % ومواطنو دول مجلس التعاون بنسبة 2% وجنسيات أخري بنسبة 3%. هذا وقد اكتفت الخليج للملاحة بما تم تغطيته من كبار المساهمين لأن خطتها التشغيلية تمتاز بالمرحلية والتدرج في تنمية أصول الشركة ومواردها، ولأن الإيرادات الحالية للشركة تشهد تزايد كبير من خلال إجراءات عديدة قامت بها الإدارة الجديدة أدت إلى انتقال الشركة نحو الربحية والنمو في الأصول.

وبهذا الصدد صرح سعادة خميس جمعة بوعميم، عضو مجلس الإدارة العضو المنتدب والرئيس التنفيذي لمجموعة الخليج للملاحة القابضة، قائلاً: "لقد صممنا خطتنا الاستراتيجية التي اعتمدها مجلس الإدارة لتكون متدرجة في النمو ورفع الأصول ويتم تنفيذها على مراحل، ومنذ أن بدأنا بتنفيذها في النصف الثاني من عام 2016 ونحن نواصل تحقيق نجاحات وإيرادات متزايدة وبشكل مضطرد، وهو ما دفع العديد من كبار المستثمرين إلى المطالبة برفع حصصهم في الشركة من خلال طرح اكتتاب حقوق الأولوية، وهو ما تم إنجازه بنجاح حيث تمكن المساهمون الراغبون بزيادة حصصهم في رأس المال من تحقيق أهدافهم شاكرين لهم ثقتهم بنا".

وأضاف بوعميم: "مقدار ما تم تحصيله من زيادة في رأس المال يعادل 82% وهذا المبلغ يكفي لتغطية الخطط المرحلية لتوسع الشركة وزيادة أصولها خلال الفترات القصيرة القادمة، وبالتالي قرر مجلس الإدارة الاكتفاء بما تم تحصيله من قبل المساهمين الحاليين وعدم التوجه إلى خيار الاكتتاب العام للحصول على المزيد من التحصيلات، إذ إن هدف الاكتتاب كان الاستجابة لرغبة كبار المساهمين في زيادة حصصهم في الشركة، وهنا أتوجه بالشكر الجزيل لكل من شارك في الاكتتاب، وأخص بالذكر شركة تبارك للاستثمار، والذين أبدوا ثقة كبيرة بالشركة وخطتها الاستراتيجية، ونؤكد للمساهمين أننا سنكون على قدر هذه الثقة، وبتوجيهات مجلس الإدارة ستواصل الشركة توسعاتها وزيادة أصولها".

ومن ضمن أهم الإنجازات التي حققتها الخطة الاستراتيجية الجديدة للشركة إعادة هيكلة الشركة بالكامل وحل جميع المديونيات والأمور المالية والقانونية السابقة وتسويتها، وكذلك إبرام اتفاقيات وشراكات استراتيجية من أجل إطلاق واحدة من أكبر شركات الخدمات البحرية لقطاع النفط والغاز والخدمات البحرية في المنطقة. كما قامت الشركة بتطوير وتوسيع الخدمات والأعمال المقدمة بما في ذلك الرقعة الجغرافية لأعمالها وبضم ناقلتين لأصولها وإعادة تمويل ناقلات للمواد البتروكيماوية ونجحت أيضاً في تنمية محفظة أعمالها والدخول في مباحثات بنائه للاستحواذ على سفن جديدة وحصص كبيرة في شركات قائمة إقليمياً ودولياً لتنويع مصادر الدخل والأعمال.

DGCX Announces the GCC's first Sharia-compliant Gold product with INTL FCStone Commodities DMCC as Market Maker

The first ever Sharia-compliant Spot Gold contract to go live on March 29


Leaving no stone unturned in the lead-up to the launch of its ambitious Sharia-compliant Spot Gold contract, the Dubai Gold & Commodities Exchange (DGCX) today announced INTL FCStone, a leading international financial services firm, as the market maker for the product. DGCX’s physically-backed Sharia-compliant Gold contract is the first-of-its-kind and will mark the Exchange’s entry into the Islamic Finance sector. Trading will commence on the Exchange from March 29, 2018.

DGCX has been working with Ayedh Dejem Group from the Kingdom of Saudi Arabia to launch the Sharia Spot Gold contract, which will be the GCC’s first ever Sharia-compliant Spot Gold product to be listed on a regulated and reputed Exchange platform.

Amanie Advisors LLC, a leading global Islamic Finance advisory firm, has been advising the DGCX on this initiative. The Sharia-compliant Spot Gold contract is certified by reputed Sharia scholars and in line with AAOIFI standards (The Accounting and Auditing Organization for Islamic Financial Institutions).

DGCX’s Sharia-compliant Spot Gold contract is strategically placed to launch at a time when Sharia-compliant investments across the globe are worth an estimated USD 2 trillion, with gold constituting a sizable proportion of those investments.

Les Male, CEO of DGCX, commented: “We are excited to have INTL FCStone come on-board as the market maker for the launch of our Sharia-compliant Spot Gold contract. Given their deep expertise and capability in precious metals trading, INTL FCStone will bring much-needed liquidity to the marketplace and ensure that we have a strong start to trading. There is already a tremendous amount of interest to hedge and invest in this product given the recent trends in global geopolitics and increased volatility in gold. This contract is designed to meet the requirements of the varied trading needs of our customer base within the UAE, Saudi Arabia and the wider GCC region. Our partnership with INTL FCStone will attract more global investment to this product.”

As the largest and the most diversified derivatives bourse in the Middle East, DGCX is confident of the product’s success and believes it will encourage new and existing institutional participants to invest and trade in Sharia-compliant products.

“Gold remains a good hedge against inflation as well as any financial uncertainties and is, therefore, a preferred asset within any prudent investment portfolio. DGCX’s Sharia-compliant Spot Gold will have a wider appeal among investors in the region and worldwide,” Male concluded.

Barry Canham, Global Head of the precious metals business at INTL FCStone, said: “We are honoured to serve as the market maker for DGCX’s Sharia-compliant Spot Gold contract and excited to bring this product to market. Dubai and the MENA region more broadly are integral markets for our global Precious Metals business, and we look forward to promoting greater investment in the area alongside DGCX. Serving as market maker for the Sharia-compliant Gold contract further enhances the services that we offer to our customer base and increases our prominent leadership position within the global bullion market.”

Citizenship by Investment: An alternative investment class with multiple benefits

Brand View: Mimoun Assraoui, CEO of RIF TRUST and David Regueiro, COO, give their analysis of the industry and the company vision


Citizenship by Investment (CBI) industry has experienced an exponential growth in the past years. Low barriers to entry, interesting margins, and a growing number of HNWI interested in this service attracted many new service providers.

The most relevant challenge is the industry regulation, as CBI becomes increasingly regulated, only those adhering to the highest standards are successful and only few investment programs are approved by governments.

“The hardest part in our business is not to sign a client but to deliver” says Mimoun. ''This is why most of our clients prefer to pay a premium just to make sure their application is handled in the most diligent manner”

The “word of mouth” effect is particularly pronounced in circles where confidentiality, privacy, and trust are highly prized, that's how “our clients become our best ambassadors.” continues Mimoun

This industry was created to attract foreign direct investments, and we have seen the positive impacts it had for the economy for the biggest programs like Cyprus, Malta, Portugal, Canada. Some Caribbean countries rely heavily on this money inflow to reinforce their economy. In the case of Dominica, its National Development Program earnings before Hurricane Maria struck, had reportedly reached US$50m per month while St Kitts and Nevis citizenship unit created the Hurricane Relief Fund to contribute to the natural disaster's recovery.

“The capacity of reaction, the sharing and helping, the resilience of its people and the willingness to make the islands a better place is something that is in the Caribbean blood.” Said David Regueiro. Based on that Caribbean spirit and having 2017 as the Year of Giving in UAE, RIF TRUST http://www.riftrust.com/ was involved in different NGO and volunteering activities. “For 2018 we wanted to do something that prevails. We started a project called RIF TRUST Children. We aim to sponsor 12 children, one per month, financing their scholarship. This is just the beginning, we would love to see these children graduating and become members of our family” continues David.

RIF TRUST http://www.riftrust.com/ is an authorized Government agent and the only company belonging to both IMC (Investment Migration Council) and GIIC (Global Investor Immigration Council) the two organizations created to streamline the industry.

“Our aim is to provide a value service to our partners. We offer a plug and play service; something that can be easily added to a catalogue of services of real estate companies, law firms, family offices and wealth and asset Managers” Says Mimoun.

With 20 employees in Dubai's headquarters, covering 14 nationalities. “Obtaining second nationality is a life changing experience. We are like a family, and we treat our clients as part of it. Dealing with advisors having the same background, similar needs, experiences, speaking the same language, is one of our signature assets” adds David.

Mimoun says “This industry has many opportunities but also many pitfalls” our aim is to grow with the industry, offering our clients the most suitable programs and grow our business with third party introducers and established partners

Banyan Tree Hotels & Resorts

This International Women’s Day, we would like to appreciate women’s commendable contribution to society with a special offer: From 1 March to 15 March 2018, save 38% as you book a room for a minimum of 3 nights at any of our participating hotels*; and for the rest of the month, shop at ease onessentials.banyantree.com. Ladies, this means saving on your next trip and getting the item you have been wanting all this while; or book holidays for the women who have inspired you and have made an impact in your life. Gentlemen, appreciate the women of your life with a breathtaking holiday or a gift that they will cherish for years to come. There is no time like the present to celebrate so start choosing your holiday destination and shopping for your favourite products today!

Banyan Tree Angsana

Cassia Banyan Tree Essentials

And here are some exceptional women sharing their inspirational stories:

Ms Claire Chiang is the Co-Founder of Banyan Tree Hotels & Resorts. Taking on the roles of a teacher, author, business lady, wife and a mother, Ms Chiang balances work, life and motherhood flawlessly.   READ MORE

Ms Nopparat Aumpa is the General Manager for Banyan Tree Bangkok, coming full circle after starting her career as a Front Office Assistant Manager at Banyan Tree Group 16 years ago.   READ MORE

The first makers of our ceramic die-cut logo, Khun Seangchan and Khun Sureepon share how their friendship and the communal spirit at Oriental Porcelain – our ceramic factory in Chiang Mai - inspire them to embrace and appreciate their everyday life.   READ MORE

Khun Jum is the Production Leader at Prosper - our producer for scented candles and diffusers. A humble lady who shares how her commitment for her family brings her strength and motivation to keep her going.   READ MORE

Khun Soi serves as the family’s breadwinner due to her husband’s health conditions. She shares with us how her unwavering love and resilience to support her family has empowered her as a woman.   READ MORE

Khun Dow works with her husband as farmers at Thai China Flavors & Fragrance (TCFF) to support a family of 7. She shares how she appreciates the simple things and finds joy in the moments spent with her family.   READ MORE