AMEI President Visits Oman to Strengthen Educational Partnerships

Simin Yazdegerdi Curtis

Simin Yazdegerdi Curtis, president and founder of the American Middle East Institute, led a delegation of members of the Institute to the Sultan Qaboos University in Muscat, Oman on Monday.

AMEI is a non-profit and independent organization, headquartered in Pittsburgh, Pennsylvania, which seeks to strengthen cultural, educational and business ties between the United States and countries of the Middle East.

Professor Amer bin Ali al Rawas greeted the AMEI delegates in his capacity as SQU deputy Vice-Chancellor for Postgraduate Studies and Research, along with other official representatives of the university.

During the discussions with the officials from SQU Simin Curtis explained that AMEI is in the perfect position to introduce Pittsburgh’s leading institutions and corporations to the Middle East. Due to their broad knowledge of the region, understanding of the culture and their well-forged corporate and business ties AMEI can more easily succeed at the high-profile networking events for which AMEI has earned a positive reputation.

The group of delegates considered the possibility of obtaining the support of academics from SQU to populate the intensive programs in Arabic which AMEI offers, as well as having them participate in other cultural and business connected activities which focus on the Middle East.

In a statement which urged the delegates to go forward to forge partnerships in the academic, educational and cultural spheres, Curtis said,

“We urge young professionals and business students to do business in Oman. We would like to host Omani students for the academic programs starting in the summer this year.”

Audi Opens Used Luxury Car Business in Oman

Audi Oman

National sales and marketing manager for Audi Oman, Abdel Karim Awwad announced the opening of the German luxury car outlet in Oman last week.

Hoping to reap a share of the pre-owned luxury car market, the car maker launched the Audi Approved Business Unit.

“This facility would enable customers in the Sultanate to purchase fully approved and checked pre-owned Audi cars,” Awwad stated.

Last year proved a favorable one for Audi, selling 1,632 used cars in the Middle East, representing a 39% from the year before. The new business opening in Wattayah, Muscat will meet the growing demand in the Sultanate for excellent used luxury cars.

“The pre-owned car industry is a growing business in Oman as customers are on the look-out for a good deal, but do not want to compromise on quality. We are very proud to have launched our exciting new Approved plus business unit and we are unique in the scope and thorough nature of our 110 multi-point checks that come as standard for every vehicle,” Awwad said.

Audi is looking forward to a good year for Audi sales. Awwad explained, “We have many exciting plans and activities planned for this year. This includes plan for corporate and government accounts in terms of sale, several activities incorporating good offers during the upcoming Muscat Festival that will connect us more closely with our valued customers.”

Global Office Furniture to Open Flagship Store in Oman

Global Office Furniture Solutions is opening their first store in Oman on January 9th in Wattayah. The business world in Oman, who will benefit from the high-quality furniture and full service available from Global Office can thank Al Jassar, the firm which promoted the opening of the store.

Al Jassar Promotion

V.T. Saileshwaran is the managing director of Al Jassar, which has promoted the services from a large range of industries to Oman, including construction, oil, petrochemical and gas, hospital management and more, explained that the showroom of Global Office will focus on the appearance of elegance combined with comfort and convenience.

High Quality Furniture

George Ambrail is the director of sales for the Middle East division of The Global Group. According to him, “The showroom features not just display eye-catching designs but also office furniture that is medically proven.”

Floor Planning

According to Ambrail, the company can also help businesses organize their space in a way which optimizes production and comfort.

“We also give them different views and once they give us the headcount we plan the floor plate based on that brief and take into account how much privacy level each person needs in his cubicle nor his demarcated area and then we provide the floor plans with different perspective views so that they can visualize it before they buy it.”

Ambrail adds that the Canada-based Globus brand is a high-quality brand hard to surpass.

“Oman is a potential market for premium furniture brands. A huge awareness for quality products in Oman has been building up which was lagging a few years ago. Here Globus would fit in perfectly.”

Mercedes-Benz Business Booms by 42% in 2011

Zawawi Trading Company

The division of commercial vehicle sales of the authorized distributor of Mercedes-Benz in Oman, the Zawawi Trading Company (ZTC) saw an increase in sales in 2011 over the previous year by 42%, unprecedented growth in the Sultanate.

This past year marked the 125th year since the invention of the automobile; a year which also coincided with the ZTC’s focused efforts to improve sales in Oman, especially within the commercial vehicles division.

There were several innovative programs established to attract customers, including the Mercedes-Benz “Field Force” which established a mobile workshop team to deliver fast and professional service, and a more personalized relationship between the customer and the seller. Also implemented were on-site vehicle checks, inspections, and driver training programs. The driver training was directed at improving the ability of the owners to maintain their cars while also teaching more defensive and economic driving skills.

The CEO of the Zawawi Trading Company automotive division, Craig Hardie, declared that,

“2011 was a year of great change in the commercial vehicle division of ZTC, as we continue to improve and expand our services and customer experience. This is a trend that we strongly intend to continue well into 2012, with numerous new and exciting projects planned for introduction this year.”

Oman Air Opens Luxury Lounge in Bangkok Airport

The national airline of the Sultanate of Oman, Oman Air, recently opened a new lounge reserved for Business and First Class passengers in the Suvarnabhumi Airport in Bangkok, Thailand.

Convenient Location

Suvarnabhumi Airport

The lounge can be found in a convenient location on the second floor where the G and E concourses meet in the International terminal. The lounge will be open to First and Business Class passenger flying with Oman Air. Passengers can expect the same “award winning” service which they receive when flying on their aircraft.

Work, Rest, Relax

The newly designed lounge can service 40 passengers in the utmost luxury, including a complete business center with private booths which offer free broadband and WiFi connections to the internet.

When the passengers are not working they are welcome to both hot and cold snacks which will be offered according to traditional Arabic style cuisine and oriental offerings prepared under the strict supervision of the chef of the Dusit Thani Hotel in Bangkok.

Happy to Open Lounge

Ahmed Hazeem al Balushi, the district sales manager for Oman Air said at the official opening ceremony that,

“I am very happy to open this wonderful lounge, which comes in our new design. We have focused on the needs of our customers; furthermore the new lounge at Suvarnabhumi International Airport provides our premium guests with ideal conditions for a relaxed stay before their departure. Just like our customers, we waited eagerly for this day.”

Improving Customer Service

The general manager of catering for Oman Air, Aaron Claxton said,

“The opening of this new lounge is a testament of Oman Air’s continual strides in providing its passenger with a seamless travel experience offering “5-star” services and traditional Omani hospitality from the moment they enter the lounge in Bangkok. The lounge has been designed with particular consideration to offering a tranquil and calming oasis while still retaining many of the features of its flagship lounge which opened in Muscat in January 2011.”

GCC Banks Looking to Increase Revenues as Global Crisis Subsides

According to a survey conducted by the Accenture financial services company, banks in the six countries which comprise the Gulf Cooperation Council (GCC) plan to increase their lending to small and medium enterprises, (SMEs) and concentrate more on young people and women to help increase their returns.

Reduced Cost-to-Income Ratio

Amr El Saadani

The survey showed that lenders within the GCC, which includes the United Arab Emirates and Saudi Arabia, will begin to reduce their cost-to-income ratio down to 35% from the current 36% average. The goal is to improve the return on equity investments to an impressive 20% by the year 2015 from today’s 16%, according to the survey, which included the opinions of 47 senior executives at banks in the region.

“The SMEs have traditionally been a small part of the business as the government sector dominates the economy,”said Amr El Saadani, managing director for Accenture’s financial services practice.

“Governments are now diversifying their economies and most banks have indicated they are interested in pushing this business,” added El Saadani.

Still Recovering from Global Crisis

GCC banks are still recovering from the international credit crisis of the past few years, which reduced lending considerably, harmed the investment banking industry, and led to more defaulted loans. Now economic growth is on the rise, spurred by increased government expenditures in response to recent political discontent, and higher prices for oil. This economic boom has also increased lending.

But the loans to SMEs only comprise about 2% of the total amount of lending in the GCC. This is a tiny percentage, especially when compared to about 27% in the countries which comprise the Organization of Economic Cooperation and Development, said El Saadani.

Women and Youth Will Play a Greater Role

It is important to keep in mind that over half of the population of the GCC is under 30 years old; and women-held assets is on the verge of an increase to close to $800 billion by the year 2014, compared to only $500 billion in 2009, added El Saadani.

“Young people are extremely tech-savvy,” El Saadani said.

“Women increasingly are also highly educated, increasingly employed and are becoming extremely demanding customers.”

Inflation Falls to Seven-Month Low in Oman

The Economy Ministry of Oman announced that the inflation for the month of September reached a seven-month low of 3.7% annualized rate. Prices fell 0.3% for the month, due mainly to the slump in the price of gold.

There is an expectation that the Sultanate’s economy will expand by about 4% overall this year, and even higher in 2012, with a hope that it will grow by 4.2%.

Much of the expected expansion is due to the government’s increased investment in the nation’s infrastructure, helping to boost the economy while at the same time laying the groundwork for even more expansion and development.

Middle East Outbound Travel Surging

According to the World Tourism Organization (WTO) the next 20 years will see an enormous increase in outbound travel and tourism from the Middle East, especially from Gulf Cooperation Council (GCC) states.

Population and Incomes on the Rise

The Middle East countries are now experiencing a concurrent rise in population and disposable incomes, which is stimulating a simultaneous surge in outbound travel and tourism. Already the travel marketplace in the UAE and Saudi Arabia alone is worth over $11.4 billion, creating intense interest among Asian and European destinations to attract this multi-billion dollar market, predicted to be worth upwards of $20 billion within the next twenty years.

Exhibition Space Going Like Hotcakes

Supporting this outlook is the increase in interest in the upcoming Arabian Travel Market 2012 trade show, which has witnessed an upturn in inquiries resulting in almost 60% of the exhibition space being taken.

The Group Exhibition Director, Reed Travel Exhibitions and organizer of the Arabian Travel Market 2012, Mark Walsh stated,

Mark Walsh

“The region is not only one of the fastest growing inbound markets, but for some, more crucially, it is one of the fastest growing outbound markets. We have received bookings from all five continents of the world reconfirming the importance of this regions outbound tourism potential.”

Billion Dollar Sector

It is foreseen by the WTO that an added two million Arabs will travel across the globe in the next 20 years, bringing the total of travelers from this region to 37 million. This population of tourists will spend about $20 billion on their trips, and will account for 2.2% of total international outbound travel, representing an increase of 0.7%.

“Those numbers may seem modest, but it is a case of quality not quantity with travelers from this region. According to the WTO, the average tourist from the UAE spends $22,000 a year on flights and accommodation alone, totaling $6.6 billion annually spent on outbound travel. Saudi Arabia’s market is worth an estimated $4.8 billion,” added Walsh.

The Arabian Travel Market 2012 trade show is scheduled to take place from April 30th through May 3rd at the Dubai International Convention and Exhibition Center under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai.

Major Road Project Awarded to L&T Oman

Orders valued at RO $68.4 million, to build two roads, the Wadi Kabir-Darsait Road and the Mahlah-Ghubbrat Al Tam-Ismaiyah Road were secured by the billion dollar global group Larsen and Toubro Oman.

Larsen and Toubro Oman is a subsidiary of the Indian-based engineering, technology and construction company L&T which is estimated to be worth $11.7 billion; is one of India’s largest and well-respected firms operating in India’s private sector, and has developed operations throughout the world during its more than seventy years since its founding.

The orders for the construction were received from the Muscat Municipality and from the Ministry of Transport and Communications. Information regarding the length of time the road construction will take or when the building will begin is not yet available.

Pilgrims to Mecca Offered Deal From Oman Mobile

Customers of Oman Mobile, the mobile phone subsidiary of Omantel, can now more easily stay connected with their loved ones back home while they participate in the Haj.

Haitham Abdullah al Kharusi

The deal was announced by Haitham Abdullah al Kharusi, the vice president of the consumer business unit of Omantel. Beginning on October 26th, and continuing until November 30th this year, Oman Mobile customers will only have to pay a flat rate of 99 baisa per minute when they use their mobile phones in Saudi Arabia while receiving roaming service with Mobily or STC for all calls made between Oman and Saudi Arabia, both incoming and outgoing included.

Al Kharusi explained his company’s new offer:

“Haj is a special time for all Muslims and we at Oman Mobile recognize the importance of keeping our customers in touch with their families wherever they are.

“The new offer will enable our customers to stay in touch with their families and friends back home at low rates introduced for the first time.

“No matter if the customer is subscribed to Mada postpaid or Hayyak prepaid, calling or answering calls, daytime or at night, Oman Mobile customers will enjoy this never- before-offer of a flat rate of 99Bzs per minute.”

Omantel is one of Oman’s leading telecommunications companies, offering Omani citizens a modern network of communications services allowing them to stay connected within the Sultanate and the rest of the world.