New Saudi King Greets Egypt’s Sisi at Airport

“Abdel Fattah el-Sisi” by Kremlin.ru.

In an unusual break of protocol, the new king of Saudi Arabia, Salman, met Egypt’s President Abdel Fatteh el Sisi at the airport when he arrived for high level meetings in Riyadh on Sunday, March 1. The unusual move was an expression of the King’s positive feelings towards Sisi particularly at a time when parts of the Arab media have questioned whether past close ties between the two countries will continue with the rein of the new King.

This is the first time since Salman’s rise to power that the two leaders have met for in-depth talks on regional issues. The talks are considered crucial in light of the growing turmoil in the region. The pair is expected to discuss security in the Red Sea as a result of political upheavals in Yemen. It is expected that other issues will be discussed with the aim of strengthening Arab and Sunni unity. Riyadh perceives threats coming not only from Iran, but also from Islamic State extremists.

John Kerry will also be in the region this week. The US Secretary of State is there to discuss finding a deal with Iran to curb their nuclear development program which Saudi Arabia sees as a threat from its main regional rival.

Pipeline Attack Halts Natural Gas Flow From Egypt to Jordan

Egyptian Pipeline Attacked by Militants

In the first bombing of the pipeline in over a year, the flow of natural gas was disrupted from the Sinai Peninsula to Jordan. The attack came after Egyptian president, now former president, Mohammed Morsi was forced from power last Wednesday by Egypt’s military. Morsi, who supports, and is supported by, the Muslim Brotherhood, was elected to head the Egyptian government only one year ago after former President Hosni Mubarak was ousted from power as a result of the “Arab Spring” uprisings in early 2011.

The attack on the pipeline took place just south of the Sinai town of El Arish. The pipeline was attacked several times from early 2011 until a year ago, during the violence that forced Mubarak from power. The pipeline bombing also follows attacks on the regional airport and at security checkpoints in recent days.

No casualties were reported as a result of the bombing, which was perpetrated by unidentified militants who detonated explosives, causing a fire and damaging the pipeline. The Egyptian army has declared a state of emergency in certain areas along the Suez shipping route after the attack on the airport in the vicinity caused fear that oil exports would be disrupted. The price of crude oil rose as a result of the uncertainty.

Job Opportunities Exploding in UAE and Other Gulf States

Sanjay Modi, Managing Director of Monster.com

Over the course of the past year available jobs as listed on the internet has soared in the UAE by 33 percent. The figure, which was announced by the monthly Monster Employment Index, is based on online job posting activity which the index tracks in 12 leading industry sectors in the six GGC countries and in Egypt.

June’s Monster Index shows that the UAE leads the rest in the increase in online job postings over the past twelve months, while Kuwait followed closely with a 30 percent increase in job opportunities from June 2011 until June 2012. Qatar was tracked with a 23 percent gain.

Overall the increase was even more impressive, growing by an incredible 39 percent annually. Only Saudi Arabia did not grow in the double digits, expanding by only 2 percent for the year in its online job opportunities.

In Egypt job openings posted online surged by 15 percent, while in Bahrain and Oman online job listings increased by 18 and 20 percent respectively.

Orascom Exploring Construction of Low Cost Housing in Oman

Orascom Development Holdings (ODH) is investigating the possibility of entering into Oman’s affordable housing construction sector. The announcement of this intention was made by Samih Sawiris, the chairman and CEO of the Egyptian investment firm at The Owners Forum Middle East 2011 held in Muscat from October 22nd to 24th, 2011.

OHC Positioned to Enter Market

Mr. Sawiris explained that the growing need for affordable housing in Oman will attract investors into this sector, and Orascom’s subsidiary, Orascom Housing Communities (OHC), is uniquely positioned to enter into this market.

OHC was founded in 2006, and already finished the construction of a township by 2007. Haram City was built about 20km west of Cairo and today is home to about 5,000 families on 8.4 million square meters of land.

Haram City Near Cairo

Affordable Housing Market

When asked about Orascom’s interest in building luxury or high-end building projects, Sawiris said that in the Sultanate of Oman Orascom is not interested in this sector, especially since they are already involved in tourism construction in Jebel Sifah and Salalah Beach in a joint venture with Muriya.

Sawiris added that,

“The only thing I would be interested in Oman in terms of residential projects is affordable or budget housing. That is our second area of expertise, where we complete towns in this category.”

Month-Long “Box Appeal” Fundraiser Comes to a Close in Oman

Already in its fourth year, “The Box Appeal” is a charitable campaign designed to help over 10,000 impoverished individuals across the Middle East to acquire basic supplies at no cost.
First begun in 2007 at the Radisson Blu Hotel in Dubai Media City, its operation soon expanded until over 20,000 boxes were distributed across the region over the past four years. The original intention of what was first dubbed the “Shoebox Appeal” was to supply laborers throughout the UAE with everyday necessities whose purchase would have taxed their limited resources. The success of this first effort caught the attention of the Rezidor Hotel Group which decided to bring the charity push to the entire region.

Box Appeal’s First Year in Oman

Radisson Blu Muscat

This year, from August 15 to September 15 the Radisson Blu and Park Inn Hotels in Muscat held the “Box Appeal” in Oman for the first time. The campaign has taken on a broader perspective, aiming to help all those in society who have less. These same hotels in locations in the UAE, Egypt and Bahrain as well as Oman participated, helping to collect about 10,000 boxes of basic supplies to distribute to underprivileged people throughout MENA.

“As many as 13 hotels from across the MENA region are expected to take part,” says Michael Jacobi, general manager, Radisson Blu, Muscat. “The two hotels in Muscat are aiming to fill 1,000 boxes collectively, helping to ensure this is the most successful edition of the appeal to date.”

The campaign works simply. Someone who wishes to take part is encouraged to get a small box from either the Radisson Blu or the Park Inn Hotels. They can also acquire a box from City Centre Muscat or Qurum City Centre, the Box Appeal partners. Once they have a box the volunteer then fills it with small, but essential everyday supplies, such as toothpaste, a toothbrush, comb, brush, towel, soap and anything else they feel is useful and appropriate.

Great Community Spirit

A local charity, Dar Al Atta’a will then distribute the boxes to families and individuals most in need. Jacobi added that many additional local companies have promised to lend a hand to the campaign in what Jacobi called an “astonishing show of community spirit.”

Responsible Business Practice

The general manager of the Park Inn Muscat, Rabih Zein, added that,

“The campaign reflects the Park Inn philosophy of responsible business. We have been actively involved in a plethora of charity activities and social service programs such as blood donation and marathon collection. We encourage people across Oman to come forward and collect, fill and return the boxes in the true spirit of giving. Most of us hardly give a thought to these everyday commodities but the boxes will make a difference to someone for who even the basics count as luxuries.”

Michael Jacobi concurred:

“We hope the simplicity of The Box Appeal campaign will draw the attention of the public. Anyone can do this – it is so easy to get involved and contribute,” stated Jacobi.

Predicting the Economic Future of Construction in Egypt

As Egypt is going through the turmoil of reinventing itself, there is no doubt that this, at least for the short term, will adversely affect the economic marketplace there. It seems universally true that political instability leads to economic instability, and for now that is what can be expected in Egypt. However, the real question of importance is what to expect from Egypt, and the entire MENA (Middle East and North African) region in terms of long term economic development.

For the past several months, until the unprecedented events which took place in Egypt which caused the downfall of Hosni Mubarak, prospects for great economic development in Egypt looked good, especially in the construction sector. Many analysts are saying that these trends should continue, with the revolution being just a speed bump on the road to greater economic prosperity.

Since macroeconomic shifts are extraordinarily hard to predict, it is all we can but to wait and see which way the tide turns in the economic fortunes of Egypt and the rest of the MENA.

Ayse Arkut Joins Gulfbankers as Country Managing Partner

The prestigious regional provider of professional management solutions, Gulfbankers Executive Search has announced that they have chosen Ms. Ayse Arkut to join the firm as the Country Managing Partner for Egypt and the United Arab Emirates.

Gulfbankers specializes in the Banking and Financial Industry, especially focused in the Gulf, the Middle East and North Africa, and is headquartered in Dubai.

Ms. Arkut appears especially suited to her appointment, with much experience as a C-level executive. Her most recent employment was as a Head of Banking at a famous recruiting and consulting firm. Her past experience also includes senior level jobs at well-respected global companies including Glaxo Smithkline, IIR Middle East and ITP.

The Chief Executive Officer of Forum International, Mr. Adel Al Alawi remarked on Ms. Arkut’s appointment: "We have been patient in our search to add value to our current corporate vision and expand and diversify our long horizon-strategies. I am very excited about Ms. Arkut corporate vision; she brings a wealth of experience in the Executive Search industry."