Company News

Conducted AED14 million worth of business (to end April ’11) in the UAE; seeks to
expand network


Dubai – June 19th, 2011: The International Reciprocal Trade Organization (IRTA) estimates that trade occurring through reciprocal trade or barter companies has grown from AED30.3 billion in 2004 to AED44.1 billion in 2009/2010 . Approximately 100 reciprocal trade exchanges operate in Europe, the Middle East and Asia accounting for AED5.5 billion worth of trade. Corporate/hybrid exchange companies (in which there may be a cash/barter blend) account for a further AED7.3 billion worth of trade.


BizXchange (BizX) has been offering barter exchange services to the UAE’s business community since 2007. The Middle East arm of a business-to-business barter network based in Seattle, USA, BizX conducted exchanges worth more than AED14 million worth of products and services for its members in the first four months of 2011.

Agreement Between Omantel and Telecommunications Companies in UK, Russia and Iran to Introduce Europe Persia Express Gateway (EPEG) System

Muscat, 18th June 2011:  Omantel has signed a contract in Tehran with three international telecom partners from Iran, the UK and Russia to provide a new express cable system that will ultimately link Frankfurt in Germany to the Gulf.

The new agreement will strengthen Omantel’s growing position as a “Carrier of Carriers” and help ensure that Oman becomes a gateway hub for the region in delivering high speed telecommunication services through the new Europe Persia Express Gateway (EPEG) system.

Senior Omantel executives were in Tehran to formally sign the agreement with colleagues from UK based Cable & Wireless, Rostelcom from Russia and the Telecommunications Infrastructure Company (TIC) of Iran.   

One of the major benefits of the EPEG system will be offering a major alternative cable route from the region to Europe.  Currently most cables go through Egypt and the Gulf of Suez, but by developing this new route from Oman to Germany, operators will have an excellent new alternative to current routes.

The new initiative supports Government’s ongoing focus on Emiratization

June 19, 2011, Dubai: MonsterGulf, a leading online career and recruitment solutions provider in the Gulf region today announced the launch of its initiative ‘Return2Home’ targeting Non-Resident Emiratis residing abroad looking at returning to their origins.

Created to reach out to the Emirati population living abroad who wish to explore opportunities within their homeland, the new initiative supports the UAE government’s ongoing commitment to provide skilled employment opportunities for locals as part of a diversified and sustainable knowledge-based economy.

According to MonsterGulf internal research, there has been a 41% increase in the traffic of people authorized to work in Gulf between January and December 2010. Leveraging its global footprint, Monster.com will target and connect with Emirati jobseekers from United States, United Kingdom, Canada, India and South East Asia and connect them with the opportunities that exist for them in their own country.

Figures from the latest UNESCO – Global Education Digest (2010) show a continuing trend with close to 10%, over 7000, of the UAE’s brightest and most gifted students enrolling overseas for tertiary education. ‘Return2Home’ ensures any talented UAE nationals who sought to further their education and gain international experience overseas, can stay fully aware of emerging employment opportunities in the UAE.

The initiative will also target the corporate/employers who are looking at hiring locals from across the globe. ‘Return2Home’initiative is poised to help employers attract the ‘right talent’ who have the relevant global experience, domain knowledge and are also culturally aligned.

Commenting on Monster’s latest initiative, Mr. Sanjay Modi, Managing Director, (India, Middle East & South East Asia) Monster.com. said, “As an aftermath to one of worst global economic recessions, economic restructuring and downsizing was witnessed across the globe. Against such a dynamic environment, the strength of emerging economies was repeatedly tested, which not only demonstrated economic resilience but also an upturn in its growth trajectory. However, with government promoting Emiratisation, UAE presents a huge opportunity for corporates, which are looking at hiring locals in and outside of UAE.”

“Traditionally the UAE has suffered from a brain-drain effect, with talented individuals seeking employment and ultimately residing in their place of education due to a lack of meaningful opportunities in some specialist fields. However the economy is rapidly diversifying in the UAE, with a wealth of new positions existing in the public and private that quite simply did not exist in previous years when many Emiratis left to study at world-class learning centres.

Against this background, Monster has launched one of its ambitious initiatives. Return2Home enables those graduates to easily stay in touch with opportunities at home. Combining our superior technology, global network, customer equity and first mover advantage, with the launch of Return2Home we aim to strengthen our dominant position in the Gulf recruitment market,” he further added.

About Monster Gulf

Monster Gulf works for everyone by connecting job seekers across industry verticals, experience levels and geographies instantly with leading employers. Monster’s cutting edge Magic Search technology and innovative Magic Filter provide relevant profiles to employers and relevant jobs to jobseekers.

Monster Gulf started operations in 2006 and covers UAE, Saudi Arabia, Qatar, Bahrain, Kuwait, Oman, Jordan, Lebanon and Egypt. Monster Gulf is one of the leading jobsites in the Middle East, working with top enterprises to help them hire the right talent locally and globally.

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CONTACTS:

Nidhi Madan Verma

Monster India

(91) 956 015 5115

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Stephen Reid

Hill &Knowlton

Phone: 971 50 651 7507

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CEO and Senior Management to Live and Work in Shanghai, Reflecting Company’s Global Evolution and Boom in China, Its Second Largest Market after U.S.

Brussels, Belgium – June 16, 2011 – Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced today an unprecedented managerial endeavor to move its Senior Leadership Team to China for one month. From June 8th through July 11th, Starwood President & CEO Frits van Paasschen and the company’s top executives will be headquartered in Shanghai, where they will conduct day-to-day business on a 12-hour time difference with their “usual” operations in White Plains, New York. This unique relocation underscores Starwood’s game-changing growth in China, which recently became its second largest market outside of the U.S. and its fastest growing. The move also reflects Starwood’s innovative approach to cultivate a more global culture in a company that grew up largely in the United States.

“With properties in nearly 100 countries, Starwood is no longer an American company that happens to run some hotels overseas. Today, we’re a global company that happens to be based in New York,” said van Paasschen. “Eighty percent of our future pipeline is outside of North America, and nowhere is more emblematic of our global growth than China, where we will open one hotel every two weeks this year. China’s spectacular transformation is hard to grasp unless experienced firsthand – it’s the proverbial, ‘you can’t really understand a culture until you buy groceries there.’”

From their home base in Shanghai, van Paasschen and seven members of his Senior Leadership Team will conduct daily business in an unconventional effort to understand, appreciate and ultimately leverage different cultural perspectives and approaches to business. In addition, more than 20 Starwood executives from the U.S. and international locations will join the team throughout the course of the relocation. The group will delve into Starwood’s extensive business in China, meeting with local customers, partners and developers, while also touring new properties throughout the country.

Impact of Chinese Travel Market Extends Beyond its Borders

During its month abroad, Starwood’s Senior Leadership Team will also bolster the company’s guest loyalty outreach among Chinese travelers. As one of the world’s fastest growing travel markets, with 100 million outbound travelers expected by 2015, China will play an outsized role in global travel within the next decade. The country continues to be the richest source of new loyal travelers for Starwood, with Chinese enrollment in Starwood Preferred Guest, Starwood’s loyalty program, jumping 71 percent in 2010.

Most “Globally Fluent” Companies Will Win

Based on the anticipated success of Starwood’s managerial experiment in China, the company intends to implement a month-long global relocation annually. Its next high-growth target markets include Brazil, the United Arab Emirates and India.

“It is not just language that gets lost in translation, but also cultural nuances. The companies that will break away in an increasingly global world will be those that are most globally fluent,” said van Paasschen.

China Illustrative of Explosive Growth in Emerging Markets

Starwood’s global relocation is also a symbolic trip, as the company reaches a new milestone: for the first time in its history, Starwood has more hotels outside the U.S. than inside. As the world’s most global hotel company with more hotels in emerging markets than its competitors, Starwood is on the frontlines of globalization, and is experiencing explosive growth in India, the Middle East, Africa and of course, China. Starwood enjoys a first-mover advantage in China dating back to 1985 with the landmark debut of the Great Wall Sheraton Hotel in Beijing, which was the first international branded hotel in the People’s Republic of China. Today, Starwood has more than 70 hotels in China flying eight of its nine brands’ flags and another 90 properties in the pipeline.

About Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1051 properties in 100 countries and territories with 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, and the recently launched Aloft®, and Element SM. The company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.

Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties and other factors that may cause actual results to differ materially from those anticipated at the time the forward-looking statements are made. Further results, performance and achievements may be affected by general economic conditions, including the duration and severity of any global or regional economic downturns, the availability of financing alternatives at acceptable terms, the impact of war and terrorist activity, business and financing conditions, foreign exchange fluctuations, cyclicality of the real estate (including residential) and the hotel and vacation ownership businesses, operating risks associated with the hotel, vacation ownership and residential businesses. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Muscat, 15th June 2011: From today, Oman Air’s First Class passengers will benefit from even greater luxury at Muscat International Airport.

The national carrier of the Sultanate of Oman has joined with Audi to provide a fleet of chauffeur-driven Audi A8s that will whisk passengers from Oman Air’s new First Class airport lounge to their aircraft in unparalleled comfort and style.

Announcing the new service, Abdulrazaq Al Raisi, Oman Air’s Chief Commercial Officer, said:

“Oman Air’s First Class service offers unprecedented levels of luxury and the addition of our lounge-to-aircraft limousine service will provide even greater comfort and convenience.

“The new service will utilise Audi’s flagship A8 limousines, whose refinement and elegance perfectly complement Oman Air’s First Class experience, both at our new, state-of-the-art lounge at Muscat and onboard our outstanding Airbus A330-300 aircraft.

“We are confident that our First Class passengers will welcome this superb addition to Oman Air’s hospitality.”

The new service follows Oman Air’s introduction of First Class cabins to its fleet in October 2009. Each cabin offers just six seats, a lounge area and dedicated flight attendants. The seats are wide, provide direct aisle access and convert to extra-long fully lie-flat beds. Inflight mobile phone and wi-fi connectivity – which is available throughout the aircraft - dovetails with the latest audio and video on demand in-flight entertainment system via USN ports, iPod sockets and a huge 23-inch seatback monitor. A la carte dining and award-winning refreshments add to the exclusivity of the service.

In addition, Oman Air unveiled brand new First Class and Business Class lounges at Muscat International Airport earlier this year. First Class customers can now relax and enjoy fine dining, complimentary massages and the very best of Omani hospitality, before being driven to their waiting aircraft.

Audi’s A8 limousines were chosen because, like Oman Air’s First Class cabins, they provide an unbeatable combination of rear passenger space, style, luxury and technological innovation. Built using the finest materials - including woodwork sanded by hand - the Audi A8 is a fast, powerful and elegant four-door limousine which has received great acclaim for its performance and comfort.

James Oliver, Audi’s General Manager, Oman, added:

“This is a significant milestone in our continued strengthening of the Audi Brand in Oman. The Audi A8 is the epitome of a first class experience where it blends modern technology, with timeless quality and craftsmanship. Just like the state of the art first class cabins on Oman Air’s fleet, this vehicle will collect and deliver its passengers in unbridled levels of comfort and style. Wattayah Motors is delighted to have been selected by Oman Air as their official Vehicle Partner and we are looking forward to a mutually rewarding partnership.”

Corporate Communications & Media

Oman Air

15 June 2011

About Oman Air

Oman Air is the flagship carrier of the Sultanate of Oman. Founded in 1993, the airline has since witnessed massive growth and has played a major role in making Muscat an important traffic hub in the Middle East, supporting the commercial, industrial and tourism sectors.

The airline currently operates direct international flights from Muscat to Gulf destinations, such as Abu Dhabi, Bahrain, Doha, Dubai, Jeddah, Riyadh, Dammam, Kuwait and Al Ain. Within the Middle East region, Oman Air flies to Cairo in Egypt, Beirut in Lebanon and Amman in Jordan.

In addition, Oman Air flies to ten destinations in India – Mumbai, Chennai, Kochi, Thiruvananthapuram, Hyderabad, Delhi, Lucknow, Bangalore, Kozhikode and Jaipur. Within the Subcontinent, Oman Air also flies to Chittagong in Bangladesh, Karachi, Islamabad and Lahore in Pakistan and Colombo in Sri Lanka. Furthermore, Oman Air flies to the Indian Ocean islands of the Maldives, besides the Capital City of Nepal, Kathmandu. Within the Far East, Oman Air destinations include Bangkok in Thailand and Kuala Lumpur in Malaysia.

Among its European destinations are: London in the United Kingdom, Milan in Italy, Munich and Frankfurt in Germany and Paris in France. Oman Air also flies to Dar Es Salaam in Tanzania since June 2010. The most recent destination added to the expanding network of Oman Air is Zanzibar, which was restarted from May 16th 2011.

Oman Air’s fleet consists of Airbus A330s, Boeing 737s, Embraer E Jets and ATRs. Currently, the fleet strength stands at 15 B737-700s/800s, four A330-200s, three A330-300s, two Embraer E 175s and two ATRs 42-500.

The Embraer aircrafts’ induction into the Oman Air fleet follows the contract that Oman Air signed with Embraer for the purchase of five Embraer 175 aircraft from the E-Jets family, with purchase rights for another five aircraft. The remaining Embraier aircrafts are due to arrive within the next three years.

For the future Oman Air has ordered 6 Boeing 787 Dreamliners, which are scheduled for delivery in 2014.

Oman Air unveiled its First Class Mini Suite in October 2009 which marked a further milestone in Oman Air's ongoing drive for quality and comfort. Earlier in 2009, Oman Air had unveiled its new, lie-flat Business Class seat, which offers greater levels of comfort and amenity than many other airlines’ first class products and is fitted on all the new Airbus wide-body fleet.

Marking a pioneering milestone in the history of aviation, Oman Air has become the first airline in the world to offer both mobile telephony and Internet connectivity on board its flights.

Oman Air and Malaysia Airlines entered a code-share partnership in June 2010, opening up more international destinations to their customers. Oman Air’s passengers, who currently enjoy direct flights to Kuala Lumpur and Bangkok, will now be connected to 4 new destinations in Malaysia - Langkawi, Kota Kinabalu, Penang, Kuching, and 2 new destinations in Asia - Singapore and Hong Kong. In turn, passengers flying from Kula-Lumpur to Muscat will be able to connect seamlessly to Amman and Kuwait City, with more options from Oman to Dubai and Beirut as well.

More recently Oman Air entered a code-share partnership with British Midlands International (BMI) announced a code-share agreement that will allow Oman Air’s customers to book flights from Oman’s capital of Muscat to Aberdeen, Edinburgh, Belfast or Manchester, via London Heathrow. BMI’s customers will be able to book flights from any of the airline’s UK departure points through to Muscat. The code-share agreement is effective since 1st April 2011 and customers will be able to book flights through either Oman Air or BMI outlets.

Customer-focused initiative - buyers can own new vehicle every three years

Lower monthly payments compared to traditional car finance

Guaranteed minimum future vehicle buy-back value of 50 per cent after three years

Dubai, June 18, 2011: In line with its long-term commitment to initiatives that benefit its customers, Emirates NBD, a leading bank in the region, announced today a strategic tie-up with Arabian Automobiles, the sole distributor of Nissan Cars in Dubai and the Northern Emirates.

The new agreement will enable customers of new Nissan passenger vehicles to upgrade their cars once every three years through the new guaranteed ‘buy-back’ programme, ‘Nissan Freedom’. In addition, customers availing of an Emirates NBD auto loan will pay lower monthly installments towards their new purchase.

Vehicle buy-back under ‘Nissan Freedom’ is guaranteed by the dealer at the end of the three year term. Customers have the flexibility to upgrade, hand back or continue with the vehicle loan based upon their individual need.

"Emirates NBD offers innovative solutions with strategic partners in order to better serve our customers," said Abdulelah Al Kindy, General Manager - Retail Banking, Emirates NBD. "This new agreement with one of the longest-established automobile distributors in the country will make purchasing a new Nissan vehicle more attractive than ever before. We are delighted to enter into this partnership and look forward to a long-lasting and rewarding relationship."

Mr. Felix Welch, Director Sales & Marketing Arabian Automobiles, said: “We are delighted to be entering into this strategic partnership with the country’s leading bank. With help of Emirates NBD we have been able to make our latest Nissan Freedom finance product both highly appealing and flexible for our customers who are looking for an alternative to traditional bank finance. We hope this agreement paves the way to even greater links between our two institutions.”

Service to extend TASWEEK’s expertise to multiple industries

June 18, 2011

TASWEEK Real Estate Marketing and Development, a leading property advisor and solutions provider, has incorporated Investment Fund Management (IFM) to its list of services. The new service will enable TASWEEK to go beyond real estate and deliver IFM solutions to health, education and various other industries at the local and international levels.

Its new IFM business will enable TASWEEK to open up cross-investment opportunities with its global partners in several growth sectors such as power, agriculture, solar energy, water desalination, recycling, waste management, and manufacturing. The heightened level of transparency and legal compliance required by fund management will also help boost the company’s credibility among local and international investors.

“Our new Investment Fund Management offering will be of great help in extending our business reach and further building up our image as a reliable and progressive organization two successful and profitable years since our inception in 2009. It will also provide great opportunities for us to enhance our investor and partner relationships with multi-cross-investment options. We look forward to setting benchmarks in IFM excellence and establish TASWEEK as a premier investment fund service provider,” said Masood Al Awar, CEO of TASWEEK.

With more than 20 years of innovation and leadership under its belt, TASWEEK Real Estate Development and Marketing has rapidly grown into a one-stop shop for real estate and related services and marketing. TASWEEK’s services span Purchase and Sale of Strategic Assets; Asset Management; Joint Ventures and Strategic Alliances; Marketing Consultancy; and now Investment Fund Management as well.

Dubai, 16 June 2011 – From the beginning of May, Hamburg took the leading role in international air traffic. With its “Knuffingen Airport”, situated in Miniatur Wunderland, the European Green Capital 2011 showcased the world’s first CO2-free airport. Very soon, climate-neutral airplanes will arrive in and depart from the Hanseatic City, thereby living up to its title of European Green Capital.

After six years of planning and development, May 4th saw the opening of the world’s first CO2-free airport. “No doubt the new airport will be one of Hamburg’s main attractions – where else can you observe emission-free arrivals and departures of planes”, says Thorsten Kausch, Managing Director of Hamburg Marketing GmbH, with a cheeky glint in his eyes.