National Bank of Kuwait (NBK) has signed a financing agreement with a Joint Venture led by Associated Construction Co (ASCO) to finance Al Amiri Hospital Expansion project.

The KD98m project is part of Kuwait’s Ministry of Health’s plan to develop the healthcare sector in Kuwait.

The project had been awarded to ASCO who leads a Joint Venture comprising Impresa Pizzarotti and Al Essa Medical Equipment.

“NBK is the leading bank in Kuwait when it comes to project finance,” said Shaikha Al Bahar, NBK Kuwait Chief Executive Officer, following the signing ceremony of the financing agreement at NBK’s headquarters in the presence of George Nasr, ASCO Partner and General Manager and representatives of the participating companies and NBK officials.

Al Bahar added, “Throughout its history, NBK has always been a strategic partner in financing vital projects in Kuwait. NBK’s role in this project is yet again testament to NBK’s professionalism and credibility in the market place.”

Al Bahar stressed, “The Al Amiri Hospital Expansion Project reflects the determination to accelerate the implementation of mega projects. This is critical for boosting economic activity and spurring growth. We hope to see additional development projects being executed in the future allowing the private sector to be involved in a larger scale in developing Kuwait.”

The Al Amiri Hospital Expansion project comprises the construction, maintenance and provision of medical equipment for a new tower at the hospital doubling the existing capacity by adding additional 460 beds and a multi-storey parking block.

Emirates Islamic Bank, one of the leading Islamic financial institutions in the UAE, announced recently the names of winners in the quarterly raffle draw of its popular Kunooz Value Plus Account. Mohammed Baha Din Salah Nahawi won the grand cash prize of Dhs1m, while Shezad Saleem became the proud owner of a studio apartment and Sunil Kumar T Vayaleri won a Bentley GT V8 coupé luxury sports car.

In total, 54 lucky customers won prizes worth a total of Dhs3.1m, during the special introductory offer period that covered the first quarter of this year, including three weekly cash prizes.

“Emirates Islamic Bank’s Kunooz Value Plus Account provides customers with an exceptional way to plan for the future, while at the same time giving them various opportunities to win exciting prizes in a truly Sharia- compliant manner,” said Faisal Aqil, Deputy CEO-Consumer Wealth Management, Emirates Islamic Bank. “We have carefully put together a suite of exciting offers that cover most of the material comforts to which an individual aspires.”

Kunooz Value Plus Account offers an easy entry criterion, and customers who open the account and maintain the minimum required balance have the opportunity to become a winner. Furthermore, the scheme allows customers to win several weekly and quarterly prizes, earn periodic profit and have instant access to their funds through over 100 Emirates Islamic Bank branches and ATMs across the UAE, as well as a broad range of alternative channels.

In view of the popular response to the introductory offer, Emirates Islamic Bank has decided to extend the programme for another quarter, with the next grand raffle draw to be held on 7th July 2013. The bank will also offer a brand new Mercedes-Benz SLS AMG luxury sports car and other exciting prizes.

TECOM Investments, a wholly-owned subsidiary of Dubai Holding, has announced a new operational structure, which will allow the company to further focus on its core business of developing and operating business parks.

The implementation of a new structure comes at a time when the region’s macroeconomic fundamentals are increasingly positive, offering an opportunity for TECOM Investments to ensure it is strongly positioned to capitalise on Dubai’s future growth prospects.

Under the new structure, TECOM Investments real estate business will be segmented into three verticals.

These will be:

- TECOM Development & Planning (Land, Infrastructure and Building Development)

- TECOM Freezone Business Parks

- Dubai Industrial City.

Commenting on the changes, Dr Amina Al Rustamani, Group CEO of TECOM Investments, said:

“The region’s economic outlook looks promising and we are entering the next phase of Dubai’s impressive growth story. We need to be prepared for this opportunity and with this new company structure we will have clear ownership of each of the key success factors and processes to drive business stability and growth.”

Badr Al Gargawi is now CEO of TECOM Development & Planning where he will manage matters relating to land, infrastructure and building development. Mr Gargawi will be responsible for all master planning, construction, infrastructure, and engineering development in TECOM Investments. Mr Gargawi has been with TECOM for 7 years and was previously CEO of Tamdeen and Managing Director of TECOM Business Parks’ Engineering Management unit.

Malek Sultan Al Malek is now CEO of TECOM Freezone Business Parks. Mr Al Malek will be responsible for all TECOM Investments’ free zone assets comprising: Dubai Internet City, Dubai Outsource Zone, Dubai Media City, Dubai Studio City, International Media Production Zone, Dubai International Academic City, Dubai Knowledge Village, DuBiotech and ENPARK. Mr Al Malek has been with TECOM for 10 years and was previously Managing Director of Dubai Internet City and Dubai Outsource Zone.

Abdulla Belhoul is now CEO of Dubai Industrial City. Mr Belhoul will continue to be responsible for TECOM Investments’ onshore assets comprising of offices, logistics facilities, labour accommodation, and industrial land in Dubai Industrial City. Mr Belhoul has been with TECOM Investments for 6 years.

Toyota announced that it has opened its Middle East and North Africa Representative Office (MENARO) in Dubai due to its favorable geographical location, excellent infrastructure facilities, and it’s positioning as a leading regional hub for commerce and industry for multinational and global companies seeking to make inroads into the broader MENA region.

The regional representative office of Toyota is located in Dubai Airport Freezone, one of the fastest growing free zones in the world.

Commenting on the occasion, Dr. Mohammed Al Zarooni, said, “We are delighted that Toyota has selected Dubai Airport Freezone as its base of operation in the region. On our part, we will ensure that the operation of Toyota will receive our full support and assistance, to enable it to achieve its objectives and commercial goals.”

He added, “We welcome Toyota as a valuable member of Dubai Airport Freezone family. This will add great value to our membership portfolio and its impressive list of global partners. The responsibility is now on us to prove to the management of Toyota and its customers that the decision to establish operation in Dubai Airport Freezone is the right decision, and we will prove that through providing Toyota our professional services and facilitate their operations.”

Nobuyuki Negishi, a senior executive and industry veteran with 17 years of experience working within the regional sales and marketing function of Toyota Motor Corporation (TMC) in the Middle East, has taken charge of the new office in his official capacity as the Chief Representative.

Mr. Negishi will be responsible for operations across 18 countries to further enhance the leadership and perception of the Toyota and Lexus brands among customers in the region. In line with its strong 2012 global sales record (Toyota & Lexus) totaling 8.72 million units, the Middle East region also reported a record year selling 660,285 units, resulting in a YoY increase of 31% as compared to the previous year.

Speaking on the occasion, Mr. Negishi said, “Having spent several years in the region and nearly three decades with TMC, I can confidently state that the MENA region has huge market potential and represents a strategically important region for us. I am really happy with the opening of our regional office in Dubai, and I am proud to be appointed as the first chief representative to enhance TMC’s market leadership.”

“I look forward to playing a significant role in leading my team, interacting with our customers and supporting the sales promotions, marketing and communication activities of all Toyota and Lexus distributors in the region to strengthen and consolidate our position as a leader in the MENA automotive industry,” added Mr. Negishi.

He further added, “Dubai was the logical choice as our regional office given its state-of-the art infrastructure and a world class business environment. DAFZA in particular was a compelling location for us representing the best of what Dubai has to offer with its unique facilities and services to enable the opening of our MENARO office.”

Mr. Negishi brings a wealth of automotive experience to his current role with three years spent as Head of Toyota’s Bahrain Representative Office (1997-99). As Chief representative and expert on the region, another key responsibility for Mr. Negishi is to work closely with TMC Japan in strengthening relationships with customers by providing them with appropriate vehicles and outstanding service experience that exceeds their expectations, based on in-depth knowledge and understanding of the ever-changing regional market situation and customer needs.

As part of his efforts to build deeper relationships with the community in Dubai, Mr. Negishi serves as the Chairman of the Japanese Association in Dubai Airport Freezone and as Head of the Golf Club of the Japanese Association of Dubai and Northern Emirates.

In 2012, Dubai Airport Freezone was named number one Free Zone in the World by Foreign Direct Investment (fDi) magazine, moving up from second place in 2011. Previous accolades with fDi include number one Middle East free zone of the Future and number one free zone in the UAE and in the Middle East, in its 2011/12 rankings.

DAFZA’s commitment to quality is recognized by worldwide ISO certificates for Quality, Environment, Health & Safety and Information Security Management System, as well as Complaints Handling System. In 2010, DAFZA won the Dubai Quality Appreciation Programme award in the service category.

Al Khalij Commercial Bank (Al Khaliji) Q.S.C has been awarded by the Institute of Internal Auditors (IIA), at a function, held at the Al Sharq Hotel, on Saturday 18 May.

On behalf of Al Khaliji the award was received by Mr. Prabirendra Ghosh, Al Khaliji’s Group Head of Internal Audit, in recognition of the Bank’s support to the third National Conference on Internal Auditing 2013.

The event, organized by the Qatar chapter of the Institute of Internal Auditors and The Scientific Accounting Association (Qatar University), was held at the College of The North Atlantic-Qatar (CAN-Q) from 19-20 May 2013.

Upon receiving the award Mr. Prabirendra Ghosh said, “We are honored to receive this award, it is part of our commitment to further enhance the knowledge and success of this practice in Qatar. At Al Khaliji, we follow best international standards on auditing, supported by robust governance framework.”

Al Khaliji has always been committed to sponsoring events that contribute to the sustainability of the economy and enhancing the communities where the Bank operates in.

The most talented designers and architects working in the region were recognized yesterday at the Dubai World Trade Centre where INDEX 2013 and the Office Exhibition, the MENA’s leading trade exhibitions for the residential and commercial interior design sector, are taking place.

After the inauguration of INDEX by H.H. Sheikh Hamdan bin Rashid Al Maktoum and of The Office Exhibition by H.E. Humaid Mohammed Obaid Al Qatami, the winners of the The IIDA 2013 Middle East Interior Design Competition, The IIDA 2013 INDEX & Office Exhibition Product Design Awards and of the Fifth Contemporary Majlis Design Competition were announced.

The IIDA 2013 INDEX & Office Exhibition Product Design Awards

‘In_Motion’ by Guialmi, a company with over 40 years of experience in the development of office furniture solutions, was selected by the jury for this award.

“At Guialmi we are very pleased of having been selected for this award that recognizes our work. Even If we have been working with Italian designers and architects for many years now, this product was designed by a young designer from our R&D team. A proof that design culture is now a part of Guialmi DNA. We want to thank ÍNDEX for promoting and supporting this design initiative”, said Jorge Almeida, Export Director of Guialmi.

The IIDA 2013 Middle East Interior Design Competition

The Middle East Interior Design Competition rewarded interior designers and architects with a project located in the Middle East which was completed between 2010 and 2012.

‘One GE Solution Offices’ on Sowwah Square, Abu Dhabi, realized by Ak Design, a Dubai & Abu Dhabi based design practice, was selected by the jury as the best project among all categories.

“We were inspired by the ideology of Ecomagination and wanted to create a great workspace that would translate this into built form, designed to aid staff interaction and productivity. With GE’s commitment to green initiatives, the project was strongly driven by environmental considerations. Also the practicalities and complexities of populating a great number of staff, within the given floor plate, whilst retaining an open, light and spacious feel presented unique opportunities”, said Kim Nielsen, Design Director at AK Design.

Other winners were identified for each participating category of the IIDA The Middle East Interior Design Competition including: Women’s Museum by Enrico Botta Architecture for the Cultural/Institutional/Educational category; Bayt Abdullah Children’s Hospice by NBBJ for the Healthcare category; Westin Abu Dhabi Golf Resort & Spa realized by The Gettys Group for the Hotel category; Slider Station by Bishop Design LLC for the Restaurants; Bin Sina Pharmacies by Brand Creative for the Retails category; and Ahasees Spa & Club at Grand Hyatt Dubai by HBA for Spas/Fitness/Wellness Centers.

The INDEX & Office Exhibition Product Design Awards honoured manufacturers and designers for their excellence in product design serving the residential and commercial office industries, whereas The Middle East Interior Design Competition rewarded interior designers and architects with a project located in the Middle East which was completed between 2010 and 2012. The two competitions, created by International Interior Design Association (IIDA) with the support of dmg events, were ideated to celebrate excellence in product design and interior design in the Middle East

The 5th Contemporary Majlis Design Competition

The winner of the fifth Contemporary Majlis Design Competition, that tasks the region’s design talents with creating a modern and innovative concept for the traditional Arabic meeting and social space, was also announced yesterday; the team of LOCI achitecture+design took the Jury’s Award, beating three other projects displayed at the show with its ‘Flow’ design concept.

Commenting on the design Hani Fallaha, partner of LOCI architecture+design with Hamad Khoory, said: “Inspired by footsteps left in the sand, the Flow Majlis concept came about by the idea of leaving behind your memory for someone else to discover. With sand giving the Majlis its fluid structural integrity one has the ability to sit down and shape his/ her own seat to what suits them best. Derived from the Bedouin ideology, Flow allows people to sit low to the ground, which reflects humbleness, a strong connection to the land and the absence of a social hierarchy.”

The four final designs for the Contemporary Majlis Competition are on display at INDEX in Hall 8 of the Dubai World Trade Centre for the duration of the show. All candidates will have another chance of winning with the second award - the People’s Choice Award - given to the design that collects the most votes from INDEX and The Office visitors. All visitors can submit one vote and the most popular project will be announced on the final day of the exhibitions, Thursday 23rd May, at 12 noon.

INDEX 2013 and The Office Exhibition will be open exceptionally till 9pm tomorrow Wednesday 22nd May.

In line with its commitment to inform public and private institutions in the UAE of the latest work and service developments at various international development institutions and organisations; the Ministry of Finance (MoF) recently organised a workshop to showcase the services provided by the Multilateral Investment Guarantee Agency (MIGA), member of the World Bank Group, and discuss the benefits to UAE investors.

The workshop aimed to encourage UAE entrepreneurs to invest in developing countries through MIGA’s commitment to offer all the necessary studies and information needed as well as to provide them with guarantees against losses caused by noncommercial risks.

Moreover, the agency seeks to attract foreign direct investments into countries with emerging economies in order to create new jobs, strengthen financial systems, exchange skills and provide technical expertise as well as water and electricity supplies.

MIGA also seeks to help developing countries regarding the utilisation of natural resources in an environmentally sustainable manner.

Exeed Industries, a diversified and specialized manufacturing industrial company and INJAZ-UAE supported by Khalifa Fund for Enterprise Development, recently conducted two activities, the Innovation Day Camp and JA Job Shadow Day, as part of their CSR activities for this year that aim to cultivate youth entrepreneurship in UAE.

The workshops saw more than 80 students from local universities mentored by 20 volunteers from Exeed Industries. The sessions included interactive, engaging and hands-on activities that inspire students to become entrepreneurs and encouraged them to pursue self-employment opportunities.

Dr. Kamel Abdallah, Chief Executive Officer at Exeed Industries, said: “At Exeed Industries, we encourage CSR initiatives that have a strategic impact on the community, especially the nation’s youth. Such focused activities empower young people to explore and realize their own career potential. In our interaction with the students, we have observed some measure of reluctance to walk the entrepreneurial path. Our workshops seek to replace such inhibitions with inspiration through highlighting the benefits of entrepreneurship and offering practical ways forward.

“Our collaboration with INJAZ- UAE on these workshops demonstrates the correlation between academic education and the business industry in shaping a student’s personality. The sessions equip them with the skills that they would need to become full-fledged entrepreneurs and remain competitive in today’s world.”

During the first workshop, students were organized into teams and were asked to conceptualize innovative solutions to challenges that they could potentially face in a given enterprise scenario. A jury panel then evaluated their business ideas and selected a winning team with the most creative and practical solution to resolving an issue.

Students expressed their appreciation to the organizers as the two workshops were highly beneficial and engaging.

“I particularly enjoyed the knowledge sharing session that was led by the teams from Exeed Industries and INJAZ-UAE. We received well-defined messages that not only highlighted the challenges that a novice entrepreneur could encounter, but also informed us about how entrepreneurship could become a viable and profitable career option in the long term.” Said one of the students.

The Abu Dhabi Falcon Hospital (ADFH) has been awarded the Middle East’s Responsible Tourism Award by the globally renowned World Travel Awards (WTA).

The World Travel Awards’ Middle East gala was held last night at Le Royal Meridien Beach Resort & Spa in Dubai, UAE where ADFH celebrated winning the prestigious accolade.

ADFH - the largest falcon hospital in the world - is now recognised internationally for its commitment to the UAE’s culture and economy, and for its contribution to biodiversity conservation.

Voting was made open to the public, which ended in April, and success in the regional award category now means that ADFH is on the shortlist of nominees in the ‘World’ category for the Grand Final Gala to be held later this year in Las Vegas, USA.

Since it was established by the Environment Agency - Abu Dhabi in 1999, ADFH has cared for more than 55,000 falcon patients from the Gulf region, treating and examining more than 7,000 falcons each year. In the past six years, it has opened its doors to tens of thousands of tourists from all over the world, making it one of the most sought after tourism destinations in the Emirate.

Dr Margit Muller, Director, Abu Dhabi Falcon Hospital, said, “At ADFH, we celebrate the majestic falcon species and appreciate what role it plays in our society, so it is rewarding to be recognised internationally for our efforts in preserving the art of falconry as it continues to be an important element of UAE culture among today’s - and tomorrow’s - generations. Since opening our doors to global visitors in 2007, ADFH has provided people with the unique opportunity to get close to an important element of UAE culture and heritage - falconry.”

Since it began offering guided tours, ADFH has experienced an annual increase of visitors by 20% and has established itself as one of the main tourism attractions in the Emirate of Abu Dhabi. People have the opportunity to explore the world of falcons as well as the services offered by the hospital which include falcon treatment and lab services, animal shelter services and a pet care centre.

The hospital also carries out a Falcon Breeding Programme and a Saker Falcon Breeding Programme, where the aim is to breed Saker falcons that will be released back into the wild as part of the late Sheikh Zayed Falcon Release Programme.

An Open Day at the end of April celebrated the opening of Rotork Middle East’s purpose-built factory in Dubai. Situated in the Jebel Ali Free Zone, the new premises contain offices and workshops, with initially 15 sales and technical staff and plans for further expansion.

The new 600 square metre facility provides increased local support for business in flow control markets throughout the Middle East, where Rotork has been active since the 1950s.

A Rotork regional presence was first established in Abu Dhabi in the 1970s.

Recent projects involving the Middle East oil and gas industries include the Abu Dhabi Crude Oil Pipeline linking Habshan and Fujairah, the Ruwais Refinery expansion and the New Doha International Airport.

Rotork valve actuation and control technologies are also widely utilised in the area’s water and waste treatment, power generation, desalination, infrastructure and environmental improvement industries.

As well as holding stocks of products and spares locally, the new facility will provide a full range of valve adaptation, retrofitting, site service and asset management activity encompassing electric and fluid power actuators and associated equipment. A driving force behind the expansion is the demand for reduced project downtime, with more scope for planned, emergency and preventative maintenance.

Rotork Chief Executive Peter France and Edward Hobart, HM Consul General in Dubai, performed the ribbon-cutting ceremony, at which Graeme Mullin, HM Trade and Investment Advisor in Dubai and Terry Willis, Regional Director of the Energy Industries Council, were also present.

When asked about the new factory, Peter France replied: “The Middle East region has always been an important market for Rotork. Our success has been built on the need for high quality products that will work in some of the most challenging environmental conditions. The new facility will enable us to respond to the needs of our local customer base and provide expanded services for the complete range of Rotork products. We look forward to further growth as the region continues to develop.”