Following the success of the inaugural open day in April 2011, the Third Residents Open Day was inaugurated by The Pearl-Qatar’s Director of The Central Authority Directorate (TCAD) Abdulrahim Al-Ibrahim who said the event was part of The Pearl-Qatar’s commitment to deliver exceptional service to residents and visitors.

The Open Day, organized by TCAD, saw UDC senior management and all departments on hand to provide information about the growing list of services available exclusively for residents as well as take feedback.

“The Island is now a thriving and continually growing multicultural community,” Al-Ibrahim said. “TCAD works with all departments, not only to ensure the smooth running of the Island, but also to plan new activities and introduce services that make life easier. Our business is to continue to deliver five star services consistent with The Pearl-Qatar’s glamorous and luxurious image.”

According to Fadi El Kik, Chairman of The Pearl-Qatar Executive Board, TCAD’s strategy is in sync with the board’s overall strategy of making The Pearl-Qatar a top five-star destination in the region. “TCAD is intrinsically engaged with our residents and the Open Day is another way to interact with them and introduce the ever-growing range of five-star services we offer that make the island a luxurious and unique place to live,” El Kik added.

Retailers and service providers at The Pearl-Qatar took part in the Open Day including Vodafone Qatar, Ronautica Middle East (RME), Insure Plus as well as the Island’s health and environment provider Glitter and security service Shield.

A range of activities and entertainment for children took place including face painting, jumping castles and games. [Read More]

A Shell spokeswoman confirmed the purchase while declining to detail its size but the Middle East Economic Survey (MEES) reported earlier that Qatar’s sovereign wealth fund (QIA) was looking at a 3-5 per cent stake.

If Qatar did buy 5 per cent, it would be just ahead of Blackrock, which is currently Shell’s biggest investor with 4.97 per cent, according to Reuters data.

But British stock market rules require any party to disclose a holding of over 3 per cent in a listed company so the absence of a statement from Qatar suggests its interest is below this level.

The Gulf nation’s massive gas supplies have made it rich, allowing it to create a sovereign wealth fund that has been buying up assets, including stakes in listed companies, around the world.

“We are delighted to welcome the Qatar Investment Authority as a long term and major shareholder in Shell, and particularly given our excellent strategic relationship with the Qatari state,” the spokeswoman said in an emailed statement.

Shell operates multi-billion dollar natural gas projects in Qatar.

Shell’s London-listed “A” shares rose 1.1 per cent to trade at 20.74 euros by 1526 GMT, against a 0.4 per cent rise in the STOXX Europe 600 Oil and Gas index.

Eni, whose shares traded up 1.9 per cent at 16.89 euros, had no comment on the MEES report that Qatar was negotiating a stake in it.

Two analysts said the Qatar fund might be interested in buying the ENI stake of around 3.4 per cent that state-controlled finance company CDP could sell to help fund its acquisition of a stake in transmission operator Snam from Eni.

The CDP and the Italian treasury own just over 30 per cent of Eni and annulment of the group’s treasury shares would increase their stakes.

A source close to the matter said a series of sovereign funds had met with CDP to discuss a possible stake in Eni.

“The plan to separate Eni from Snam involving Eni’s annulling treasury shares and the CDP selling the excess stake it would get is in pole position among the options on the government’s agenda,” the source said.

Prime Minister Mario Monti had a meeting with the Emir of Qatar in Rome in April. Monti told reporters at the end of that meeting that Qatari institutions had shown interest in long-term investments in Italy.

In Italy, investors must inform the market regulator Consob when they buy stakes of more than 2 per cent in a listed company.

Attractive commodities

A senior executive of the Qatari fund said in April that the financial crisis had restricted investment in commodities and that he expected a supply-demand gap to emerge by 2016 or 2017.

“We like commodities, we like to invest in commodities. Since 2002, the commodity price trend keeps going up,” Qatar Investment Authority Executive Board Member Hussain al-Abdulla told reporters.

Qatar Holding, a unit of QIA, said last month that it had increased its stake in French oil group Total to 3 per cent and is undecided on buying more shares.

Qatar signed a deal in April to co-invest $US250 million with Barclays’ natural resources private equity investment unit.

QIA has been the most active of the region’s sovereign wealth funds in recent years, deploying profit from its natural gas riches into assets ranging from German sports car maker Porsche to British bank Barclays.

The fund has also been slowly buying into London-listed miner Xstrata recently. Its current holding in Xstrata, which is planning to merge with commodities trader Glencore , is about 7.2 per cent.

On Friday, the Financial Times reported Qatar’s sovereign wealth fund planned to increase its Xstrata stake to at least 10 per cent as part of a long-held strategy to invest in Glencore, suggesting the Gulf state could provide crucial support to the pair’s $US90 billion merger deal.

Qatar surprised many observers by passing on the Glencore initial public offering last year as rival Abu
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The campaign was launched on March 29 at Al Bayan Independent Secondary School for Girls by INJAZ Qatar Chairwoman Sheikha Hanadi bint Nasser bin Khaled Al Thani. In an inspirational speech to students and supporters Sheikha Hanadi shared her experience as a successful business professional. Students asked questions about her aspirations when she was an adolescent student, seeking advice on how to begin their own professional journeys.

“I believe it is our duty to invest in the youth of Qatar, inspire them through our experiences and allow them to flourish into successful entrepreneurs. It is important that we encourage students throughout their journey, allowing them to make mistakes and teaching them that failure is the key to success,” said INJAZ Qatar, Chairwoman Sheikha Hanadi bint Nasser bin Khaled AlThani.

Earlier this month Ibrahim Jaidah, Managing Director of Arab Engineering Bureau spoke to Qatari youth at Tarek Bin Zyad Independent Secondary School where he discussed his journey towards becoming CEO of AEB. Abdulhakeem Mostafawi, CEO of HSBC Qatar, also spoke at Misab Bin Omair School encouraging students to become future business leaders of the nation.

INJAZ Qatar provides a link between schools and successful role models from the business sector. Executives from INJAZ Qatar’s partners teach INJAZ Curricula at various schools and universities across Qatar.

BLC provides a platform for senior level executives to engage with secondary independent schools; which also partner with INJAZ Qatar. The program allows them to share their professional journeys, success stories and challenges, equipping students with valuable life and career skills and inspiring them about professional success.

Executive Director Aysha Al Mudehki commented, “After the success of last year’s campaign we are excited to announce participants for 2012. The initiative aims to inspire and motivate Qatar’s youth by giving them the opportunity to engage with successful, local role models. At INJAZ Qatar, it is our mission to channel mentorship by Qatar’s business leaders to help inspire an entrepreneurial culture and help foster business innovation among Qatar’s youth.”

The Business Leaders’ Campaign engages business and social leaders of key companies with schools across Qatar. Senior executives participating in the coming month in the campaign include Martin à Porta, CEO of Siemens who will speak at Qatar University on May 16th, Bothaina Al Ansari, HR Director of Qtel, and Dr. Izzat Dajjani, Managing Director/CEO of Citibank N.A Qatar.

The BLC campaign is running over the spring and fall of 2012 reaching over 1000 students. For more information, executives interested in participating in this campaign are kindly requested to contact Program Manager, Zeina Hasbany at zeina@injaz-qatar.org
[Read More]

Former national champion Poulomi Ghatak also could not qualify for the Olympics after a 2-4 loss in the second round late last night.

After a brilliant first round, Sharath and Amalraj drew a blank in the second round to crash out of the final Olympic qualifier. They needed to at least reach the quarterfinals to qualify for the Games.

The 2006 Commonwealth Games gold medallist, Sharath lost 1-4 to lower-ranked Wang Yang of Slovakia to see his hopes of making it to his third successive Olympics go up in smoke.

Achanta, placed 127 in the global chart, lost the first two games 10-12, 7-11 to the 159th ranked Slovakian before making a comeback in the third game (12-10).

However, he lost the next two games 5-11, 7-11 to let go his chance of making it to the marquee event.

In other match of the day, Amalraj, who showed great promise by defeating second seed Emmanuel Lebesson of France in the first round, went down to Latvia`s Matiss Burgis without posing much of a fight. The Indian lost 4-11, 7-11, 8-11, 6-11 in lop sided encounter.

In the women`s section, Poulomi went down fighting to Taipei`s Chia-Hui Lin in a 2-4 marathon late last night.

The Indian paddler displayed some great fighting spirit as she came back from behind to level the scores before succumbing to 244th ranked Lin.

After losing the first two games 9-11, 8-11, the Bengal girl clawed her way back into the match by winning the next two sets 12-14, 11-6.

But that did not prove enough as Lin won the following games 11-8, 11-4 to seize the initiative.

Earlier Kumaresan Shamini failed to advance to the second stage after she lost to Joanna Parker of England to finish at the third spot in her group. [Read More]

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(MENAFN – Qatar News Agency) Qatari Businessmen Association (QBA) on Wednesday announced it will organize a business etiquette and international protocol course in collaboration with the business consulting group as of May 20 and runs for three days.

QBA Chairman HE Sheikh Faisal Bin Qasem Al Thani told a press conference here today that the event ,to be attended by 60 emerging businessmen, aims to provide leading services to the Qatari business community and attracting the senior officials and executive directors in all fields to help them facilitate the trade relations and bridge the cultural and langusitic barriers with their respective counterparts.

HE Sheikh Faisal further said the QBA is keen to select the elite of specialists having wide experience and world fame to lecture the participants with a view to reviving , burnishing and refining the skills of elite the participant businesswomen and businessmen and improving the qualitative performance and ways to deal with the media.

It is worthy to mention that the QBA has been engaged in a number of distinctive initiatives to provide clearer dialogue and structure to better assist and advance the development of the business environment. Qatar Businessmen Association strengthens business growth through leadership, prosperity, information, communication, and governmental and community involvement.

Our association serves as a strong catalyst that offers a solid foundation for the economic development of Qatar s private sector and provides a forum for idea exchange.

Together, we aim to be a major vehicle, consensus builder and advocate for a thriving economic climate in the State of Qatar.The foundation of the Qatari Businessmen Association stemmed from a necessity to link the State s strategic plans with those of the Qatari business community.

It is capable of simultaneously engineering economic growth and prosperity; and establishing and promoting private sector’s activities on both a local and foreign level.

The QBA’s vision is to act as a catalyst for the promotion of diversified investment flows, modern entrepreneurial spirit and corporate development in Qatar by continuously improving the business environment taking into account social development, international and regional trends as well as national interests.Its mission is motivated and encouraged by a state government policy that stresses the need to support and enhance the private sector role in the economy.

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She noted the Qatar Investment Authority had already invested in global tourism, including a resort in Cuba.

Premier Cox said a Qatari delegation planned to tour Morgan’s Point and other tourism-related development opportunities after yesterday’s signing ceremony.

And she said the new Qatar-Bermuda ties could also further “the Ministry of Finance’s strategy to position Bermuda to attract the global Islamic financial services industry”.

She revealed Bermuda’s expected to be a keynote sponsor of a planned Islamic Conference in New York in September of this year.

Premier Cox further said that the new ties with Qatar could also create opportunities for Bermudian students to study in the Middle East.

Bermuda and Qatar signed a Double Taxation Agreement (DTA) yesterday and on Wednesday a Memorandum of Understanding with the Minister of Qatar responsible for trade was inked.

Both Premier Paula Cox and Qatar finance official Moftha Jassim Al Moftah said they saw the signing of the two agreements as the start of a new phase in relations between the Island and Qatar, which could in turn lead to the development of new business and investment opportunities for both countries. .

“This Government has as a priority the issue of jobs and being open for and to business and of moving in the right direction as we get our economic recovery/stimulus actions on track inclusive of increasing diversification of opportunities from and with broader markets,” the Premier said at a news conference at Camden, attended by a host of senior Government officials, and business people.

“Today the Government of Bermuda lays down our trump card to further Bermuda as a western hub for the Islamic financial services industry.”

Mr Al Moftah called the agreements a “starting point” that could elad to more economic cooperation and ties between the two countries, and “not only in financial services”.

“I hope we will reach our goal of more joint investment,” he said.

She added: “The Double Taxation Agreement (DTA) signed today enters Bermuda among Qatar’s impressive DTA network of 50 DTAs and positions us to market Bermuda as an interconnecting domicile for Bermuda and investment from and to those 50 countries with which Qatar has DTAs.

“As well, investors in countries that to date do not have a DTA with Qatar can establish domicile in Bermuda and benefit from the Qatar Bermuda DTA and the DTA network.

“The DTA also provides incentive to Qatar entities including Qatar Airways, also Bermuda’s reinsurance industry and shipping companies around the world that have Qatari or GCC ownership interests.”

She continued: “Yesterday the Minister of Business Development and Tourism the Hon Wayne Furbert, in collaboration with some of our international business service providers, hosted a Bermuda/Qatar Business Development trade mission for the Qatar delegation. No doubt this will be followed up with a Bermuda Business Development and Tourism Trade mission to the Gulf Cooperation Council (GCC) region with the assistance of our new friend, the State of Qatar.”

On the MOU, Premier Cox said: “That MOU which I cosigned covers economic, commercial and technical cooperation, including industry, mines energy, agriculture, communications, transportation, construction, labour and tourism, which sets out that Qatar will assist Bermuda to make further inroads in the GCC region and Bermuda will position ourselves as a hub to assist Qatar to further diversify structures to access western markets.”

The Premier said the Memorandum provides that Qatar and Bermuda agree to establish a Joint Trade Committee for Economic, Commercial and Technical Cooperation “to meet alternatively on periodic basis, as agreed by both parties, in the territory of the two countries following a request from either party”.

Premier Cox said the Qatar agreements may not only benefit the business community.

“Your Excellency this is a time of economic challenge around the World,” she said. “The Government assures our people that we are pursuing further diversity of opportunity for the man in the street as well as well as for our international business stakeholders.

“Your Excellency, you and I have discussed a host of opportunities that can benefit Mr and Ms Bermuda. We have discussed yesterday practical investment opportunities that ultimately create jobs, a priority of this Government. I am pleased to advise that visits are planned today post the signing to look at potential joint venturing on development projects, including tourism-related opportunities. I acknowledge also in our audience today development principals of Morgan’s Point, Messrs Craig Christensen and Nelson Hunt.”

Mr Christensen and Mr Hunt of Southlands Ltd are behind a proposed $1.8 billion Morgan’s Point resort.

“The combination of today’s DTA and yesterday’s Memorandum creates opportunities for Bermudians, particularly for our students to study in the Middle East. The Minister of Education the Hon. Dame Jennifer will look at possible opportunities,” Premeir Cox said.

“There is opportunity for Bermudian businesses large and small to explore cross border trade with Qatar and the GCC region.”

Qatar in 2010 had the world’s highest GDP per capita while the economy grew by 19.4 percent, the fastest growth in the world. It’s proved reserves of natural gas are said to exceed more than five percent of the world total.[Read More]

“We are delighted to welcome the Qatar Investment Authority (QIA) as a long term and major shareholder in Shell, and particularly given our excellent strategic relationship with the Qatari state,” said Ross Whittam, a London-based spokesman for Shell.

The company’s comments followed a report on the purchase today in the Middle East Economic Survey. Shell said it will issue a statement when any shareholder’s stake rises above 3 percent. The QIA didn’t immediately return calls or emails sent outside of office hours.

Shell rose as much as 1.7 percent, the most since April 26, and traded up 0.5 percent at 2,060 pence as of 11:22 a.m. in London. The company’s market value is 133 billion pounds ($214 billion), and a 5 percent stake would be worth $10.7 billion.

The QIA is also negotiating to buy a stake in Italy’s Eni SpA (ENI) after taking a 3 percent stake in Total SA (FP), the report said. A spokeswoman for Eni declined to comment.

Shell said last month that its Pearl gas-to-liquids venture in Qatar will reach full capacity by the middle of the year. The $18.5 billion plant, which converts gas to liquid fuels such as kerosene and diesel, began operating last year and is the most expensive energy project in Qatar’s history.

Once fully operational, it will be able to convert 1.6 billion cubic feet a day of gas into 140,000 barrels a day of liquid fuels such as kerosene and base oil that are normally produced in a refinery. The facility will also make 120,000 barrels a day of condensate and liquid petroleum gas. [Read More]

“I am not into politics but I am hopeful that if Iranian rail companies are invited they can do a good job in rail and metro network development in the PGCC states, especially in Qatar. There are many good and specialized companies in Iran that are into rail network development”, said Dr Mohammad Montazeri, Deputy Managing Director of Tehran Metro Line 6 at Tehran Urban and Suburban Railways. Montazeri was here to make a presentation on Tehran Metro at the ‘3rd Annual Middle East Rail Opportunities’ (MERO) that concluded yesterday.

“I am here to participate in the conference in my individual capacity and not representing any organization… I have been to Qatar several times in the past also, what I have noticed that the city has progressed a lot, specially the transportation sector.”

MERO was a two-day conference-cum-exhibition event where railway companies from around the globe discussed on project updates, recommendations on opting the best strategies, proposing advancing innovations and tailor made solutions to the region’s challenges.

Asked if there are any specific reasons for Iranian companies not participating in the event, he said: “This is a commercial sort of gathering… I believe that businesses have no boundaries. Maybe Iranian companies are not aware about this event.”

“There is a cultural bondage between Iran and the PGCC countries. We share many things in common, and in terms of quality, Iranian companies are on a par with other global players and enjoying price competitive advantage against their European and American counterparts due to proximity and other factors”.

“There are not much people who know about the remarkable progress we have achieved in the field of public transportation especially the Metro”, added Montazeri.

Iran has a well developed rail and metro network of about 13000km. Tehran Metro through its 990km of rapid transit system serves over two million commuters daily. The Metro system consists of four operational lines and continuously surging over the last 15 years with construction having begun on a further two lines in 2007. So far, Iran has seven cities with rail network and two with Metro connectivity. The early plan of Metro began way back in 1974.

There is a huge difference in the number of people in day and night in Tehran as people prefer to live in the outskirts of the capital due to the availability of easy transportation system.

As per the latest statistics available Iran’s railway network is expanding by about 500 km per year. The country has also extensive plans to electrify its rail network. According to plan, its railway lines are to reach 15,000 kilometers by 2015 and 25,000 kilometers by the year 2025. In 2009, €17bn in foreign investment in rail industry have been secured.

However, the majority of transportation in Iran is still road-based. Although, the government plans to transport 3.5 percent of the passenger volume and 8.5 percent of the freight volume by rail but due to financial constraints and crippling sanctions most of its mega projects have been put on hold.
(Source: The Peninsula)
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