SASLO to train Omanis

Said al Shahry Law Office (SASLO) plans to start training centre as part of its commitment to grooming legal professionals and will also be increasing its staff. This was announced by Said bin Saad al Shahry during a seminar and workshop on international dispute resolution particularly in respect to major project and construction disputes. The seminar was held under the auspices of H E Sayyid Abdullah bin Hamad al Busaidi, president of the State Audit Institution.

"Oman has an excellent legal infrastructure and the challenge now is to create an element of confidence in the commercial legal system and enhance it to appeal to foreign investors," he says. As part of SASLO's commitment to the legal profession, the law company would establish in the near future a training centre for Omanis. "We are now embarking on a project to train young legal professionals and transfer our knowledge. We are completing the formalities and the centre will see light this year," Shahry adds.

Al Shahry says arbitration is often preferred to court proceedings as a good means of resolving disputes in commercial circles because it’s faster and comparatively cheaper than other legal means. The conference examined the mechanisms of dispute resolution available to businesses in Oman and abroad. It covered mediation, arbitration and judicial process, and compared the advantages and disadvantages of each.

One of SASLO's experts in the field says that these issues are getting increasingly important in the engineering and construction industry. SASLO has been providing legal services since 1992. The law office has a blend of highly experienced senior Omani and foreign lawyers with local and international expertise.

In Lime light

Yusuf Ali M A
Managing director
Emke Group
The government of India has honoured Yusuf Ali M A with the prestigious Padma Shri award for his social work. Ali is involved in many social, charitable and humanitarian activities in India and the Gulf. The UAE-based businessman plays a vital role in fostering the interests of non-resident Indians (NRIs) and maintaining cultural harmony among NRIs in the Gulf. As the chairman of the board of governors of Indian Social and Cultural Centre in Abu Dhabi, he is currently involved in building a social centre in the UAE. In recognition of his efforts in promoting communal harmony and humanitarian activities, he was conferred the title of 'commander' by Moran Mor Ignatius Zakka II, the supreme head of the Universal Syrian Orthodox Church. His earlier accolades include the Pravasi Bharatiya Samman Award, the highest Indian government award bestowed on NRIs, and the Rajiv Gandhi Award for his contribution as an NRI businessman.

Dr Mohammed Ali al Wahaibi
Chief Executive Officer
Omantel
Omantel has inked a multi-million dollar agreement with Pakistan’s third largest telecom operator Worldcall Telecom to acquire majority stakes in the public shareholding company. The deal, worth US$193mn, will see Omantel acquiring nearly 500,000 shares that constitute 60 per cent of the Pakistani company’s ownership. “This is very significant for Omantel since this is our first international acquisition and represents an important step in our international expansion strategy in South Asia,” says Wahaibi, adding that post acquisition he expects the company’s growth rates to be in double digits and a net profit of anywhere between three and seven per cent by 2009. “Despite its 160mn strong population, Internet and broadband penetration in Pakistan has been low so far. With the Pakistani government’s current drive to increase telecom and Internet connectivity penetration levels there is tremendous growth scope for us.”

Mansoor Jamal Malik
Managing partner
Al Busaidy, Mansoor Jamal & Co
For the second year running Al Busaidy, Mansoor Jamal & Co has won the ‘Best Law Firm in the Sultanate of Oman’ award at the prestigious International Financial Law Review awards in Dubai. There have been some major developments at the firm. Ali Khamis al Alawi left on December 31, 2007 and as a result the firm's name was changed to Al Busaidy, Mansoor Jamal & Co. Three senior lawyers – Adrian Brown from New Zealand, Simon Isgar from England and Rory Gilchrist from Scotland – have been hired for the expanding corporate commercial department. Hassan Shad and two junior associates, Candida Fernandes and Zareen George, will be assisting the senior lawyers. "We have also made significant changes and improvements in our litigation department. Led by Dr Said al Busaidy, our senior partner, we have introduced some major changes. A very experienced litigation/arbitration lawyer, Simon Ward, has been recruited to organise and supervise the department."

India Business Forum launched
The India Business Forum (IBF) was launched at a select gathering of the who’s who of the Indian community in the sultanate last month. Announcing the formation of the new body, H E Anil Wadhwa, the Indian Ambassador to the sultanate, said that this move would help the two growing economies to further their trade and business ties. Bilateral trade between the sultanate and India grew by an impressive 43 per cent to reach US$1.3bn in 2007.

Speaking at the launch, which was attended by senior executives and advisors in both the private sector and governmental bodies, Wadhwa proposed that the forum members meet on a regular basis, at least once in two months, to share ideas and exchange information on taking bilateral opportunities forward. IBF hopes to tap into the large number of non-resident Indians (NRIs) and persons of Indian origin (PIOs) at senior positions in both the public and private sector in Oman, who will be able to promote new business and trade opportunities in their respective sectors.

Speaking at the launch function, S Sridharan, partner, Ernst & Young, said that with the Indian economy growing at more than eight per cent per annum and the sultanate’s economy also taking off very strongly in the past few years on the back of strong demand for oil, real estate development and inbound tourism, more and more opportunities will continue to come up for business houses in the immediate future.

Leading Omani businessman Pankaj Khimji shared his vision on how businesses from both countries could work together to tap emerging opportunities. The audience at the event was clearly impressed. Vinod Shah, managing director, Mott MacDonald, agreed that the time was ripe for IBF and that the new body could actively promote business opportunities in many new sectors in both Oman and India which have hitherto remained untapped. Anand Seth, who headed the visiting Federation of Indian Export Organisations (FIEO) delegation to Oman, explained that the four-day India Show organised by OITE was a resounding success. Nearly 25 Indian companies showcased their products and services and the Indian delegation had successful talks with their Omani counterparts in exploring new opportunities for both sides.

Executives from Centurion Bank of Punjab, Oriental Bank of Commerce, New India Assurance Company, State Bank of India and Bank of Baroda, as well as most of the big business groups in the sultanate, were among the attendees at the inaugural event of IBF.

Global HR firm BBT in Oman
Beresford Blake Thomas (BBT), the global human resources consulting and recruitment company, has extended its presence in the Gulf by opening an office in Muscat in partnership with Shawqi Sultan.

BBT Oman will focus on the main areas of economic development and offer the full range of BBT’s bespoke HR and recruitment solutions, including consultancy – covering organisation and management development; training and development – and also construction/engineering, hospitality /leisure, banking and finance, sales and marketing and the healthcare sectors. The office in Oman will be staffed by a team of senior recruitment and HR consultants, with access to worldwide talent through BBT’s network of offices and facilitated by efficient communications, including video conferencing.

Says Richard Weetch, director, BBT, "BBT is delighted to open in Oman and we believe that our timing is right, as the Omani economy continues to grow and diversify successfully, creating new competition, new employment opportunities and new demands on organisations to find and develop people more effectively. BBT works with organisations to attract, select, retain, motivate, reward, train and develop the right people, to maximise performance and enhance efficiency. The areas in which Oman is diversifying are areas where we have strong international and regional experience and expertise, so our prospects are very promising and we expect to grow quickly, with the office team planned to rise to 20 people by the end of year one."

In addition to creating access to global talent, BBT Oman aims to support the Omanisation drive in the country, helping public and private sector organisations meet their Omanisation target ratios and support the diversification of the economy.

PRDnationwide turns four
PRDnationwide, Australia’s premier project marketing real estate company, is celebrating four years of successful operations in Oman. Says James Fox, managing director of PRDnationwide MENA, “The real estate market in the sultanate is rapidly changing and is expected to gain more impetus in the years to come. By utilising a fully-integrated project marketing services philosophy, PRDnationwide is able to provide a holistic understanding to the real estate and integrated tourism development industry with a one-stop shop approach, thereby adding value throughout the development process combined with unparalleled quality of service by qualified and experienced workforce.”

James says that the real estate market here is underpinned by strong macroeconomic conditions, high liquidity, favourable demographics, and a proactive government which encourages private and foreign participation in the sector. “There has been significant growth in all real estate sectors including residential, commercial, industrial and tourism,” he says.

“The residential segment has witnessed major price appreciation, especially prices of lands adjacent to mega projects. We believe that the trend of escalating prices is likely to continue led by GCC investors' land purchases.” With an ambitious development plan, PRDnation-wide will be launching offices in other GCC states beginning with a planned opening of an office in Dubai this year.

Shell to get new office
Shell and Al Hajiry Construction have signed an agreement for the construction of a new office for the Shell Representative Office Oman. The new office is scheduled to be completed in early 2009, and will be located close to PDO’s Learning and Development Centre.

Says Dr Andrew Wood, country chairman, Shell, “We are extremely excited about the plans for our new office in Muscat as we have now outgrown the office we have been occupying since 2002. We are pleased to announce that the Shell Representative Office Oman will also be transitioning to a limited liability company – Shell Development Oman – on March 1, as the broad range of activities undertaken by our office, from social investment through learning and technology development, now exceeds the remit of a representative office. These combined changes continue to show our long-term commitment to the sustainable development of Oman.”
Says Nasser Khamis al Hashar, chairman of Al Hajiry, “We are very happy that Shell has awarded us the contract for the construction of the new office. Moreover, we are extremely proud to be associated with Shell.”

Custom-designed to minimise energy requirements, the new office will be equipped with state-of-the art communication and information technology infrastructure and will replace Shell’s current office on Fahud Street.

OMG seminars enter year two
The Public Establishment for Industrial Estates (PEIE) launched its second season of Oman Manufacturing Group (OMG) seminars with a discussion on ‘Education, Training and Manufacturing: Going Global’. The panelists included Abdullah al Jufaili, Intilaaqah Enterprise Fund; Abeer Abdullah, Knowledge Horizon; Prof Andrew Self, Serco; Steve Bakalis, Ministry of Higher Education; Talal al Rahbi, Information Technology Authority; and Dr Evanglous Asendras, Sultan Qaboos University. The discussion was moderated by Infocomm managing director Karim Rahemtulla.

Over 180 people from manufacturing, business, education and government attended the seminar.
Nurturing talent, creativity and building stronger dialogue between manufacturing and higher education were the key themes. “If we aren’t designing the right degree courses, if manufacturing isn’t in dialogue with colleges and universities, then how are we to produce the skilled knowledge workers required to take Oman’s manufacturing sector forward?” asks OMG coordinator and PEIE marketing officer, Mulkie al Hashmi. The objective behind the OMG series is to bring the relevant stakeholders together and discuss issues of concern to Oman’s manufacturing sector.

On developing and attracting talent for the manufacturing sector, Rahemtulla says, “The most important national and corporate resource over the next 20 years will be talent. Smart, sophisticated businesspeople who are technologically literate, globally astute and operationally agile. And even as the demand for talent goes up, the supply of talent will be going down. So, if we’re to compete globally, we’ve got to get our heads round this issue and look seriously at how we train, educate, attract and retain the right human capital."

TAC technicians on top
Towell Auto Centre (TAC), the hosts of this year’s Mazda Technician Contest (MazTech 2008), also emerged as the proud regional winners. The team comprising Ronald Mendonca, Sashank Raman and Subbiah Rajamanickam beat nine other regional teams. The second and third places were taken by Bahrain and Syria respectively. Mazda technicians from Jordan, Iran, UAE, Saudi Arabia, Kuwait and Qatar also participated in the contest.

The TAC Oman team will head to the MazTech World Final to be held in Hiroshima, Japan, in July this year. For TAC Oman this was a great leap as last year they took fourth position.
Says Behzad Mehta, national manager service, Towell Auto Centre, “It was a very tightly contested event with every team leader bringing out the best in their team. We are very glad that the event was such a success. The fact that the TAC team topped the contest was an added bonanza for team Mazda in Oman.”

PEIE, Tabreed in cooling deal
PEIE has signed a joint venture with Tabreed Oman to provide district cooling to PEIE’s Sohar Industrial Estate. The joint venture was signed by H E Maqbool bin Ali Sultan, Minister of Commerce and Industry and Chairman of PEIE, and Mohammed P Ali, chairman, Tabreed Oman.
Says Eng Musallam al Hadifi, sales manager, Tabreed Oman, “We’ve been at the forefront of the industry for almost a decade and last year alone provided cooling services to 473 buildings covering a total of 149.9mn sqft across the GCC as well as the wider Middle East.”

Tabreed Oman’s cooling solutions will help PEIE tenants reduce both their capital investment and operating expenses. By using district cooling, PEIE expects to reduce the amount of electrical energy used by its tenants by up to 50 per cent. “We’re providing PEIE’s tenants and the Sohar community with the latest green technology – one that puts the environment first,” Hadifi adds.
Says Hilal al Ahsani, CEO of PEIE: "This joint venture emphasises the importance PEIE places on providing a more efficient infrastructure network to its growing number of tenants in Sohar Industrial Estate. We’re delighted to be rolling out technology that has such strong environmental credentials.”

Over the past few years, district cooling technology has become widely recognised as an important development in helping conserve energy and has been proven to reduce greenhouse gas emissions in many cases. Energy experts suggest that 75 per cent of the energy used across the Gulf is for cooling purposes. By using district cooling, regional planners expect to reduce the amount of electrical energy used by up to 50 per cent.

Zubair to sponsor Get Going
Get Going, Oman’s official guide and atlas to be published by Al Nahda Advertising in cooperation with the Ministry of Tourism, has been generating considerable interest among various corporate houses which have evinced a keen desire to participate in the book as it is seen as a valuable contribution in the task of nation-building.

The Zubair Corporation is one of the main sponsors for this important publication reaffirming its 40-year commitment and service to the country. The agreement was inked in the presence of Hani al Zubair, director, Zubair Corporation, and Al Wadhah Talib al Mawali, CEO, Al Nahda Advertising.

Zubair Corporation is known for its integrity and quality; it has always aligned itself with the government's commitment to sustaining the community and natural environment, preserving the country's rich cultural heritage and unique identity, and promoting it as a destination. It keeps in line with the best international practices and is recognised for its good corporate and social responsibility.

StanChart names winners
Madhavan P Nair has won the grand prize, a holiday package to Malaysia, in Standard Chartered's credit card Swipe & Win promotion. A total of 32 winners received a wide range of prizes including an LCD television and iPods. Says Ravneet Chowdhury, CEO, Standard Chartered, Oman, "At Standard Chartered we have deeprooted relationships with our customers and we are delighted to be able to provide them with special offers and rewards that reflect our range of value-added products and services.”


Octal plant work on schedule
Octal Petrochemicals has announced the initial set-up of the heavy equipment for its new PET resin plant, a key element in the company’s drive to establish Oman as a global powerhouse in the plastic packaging industry. The new sapphire plant is part of an advanced integrated PET resin and APET sheet complex currently taking shape in the Salalah Free Zone. PET (polyethylene terephthalate) is a polymer used in packaging for a wide array of consumer products, especially the packaging of water and soft drinks.

Says Rashid Saif al Sadi, a member of the board of directors at Octal Petrochemicals, “This is a landmark day for Octal Petrochemicals. Our state-of-the-art sapphire plant is moving ahead on schedule, as is our overall strategy. We are establishing a company that has the potential to make huge contributions to the Oman economy.”

Octal, which started operations in December 2006, plans to become the world's largest producer of amorphous PET sheet packaging, with 20 per cent market share, and the Middle East's largest producer of PET resins. Octal expects total sales to reach US$500mn per annum by the end of this year.

Al Sadi says: “Our aim is to be not only the largest company of its kind in the world, but the best, producing packaging of superior quality at a lower price than our competitors.” A 40m chimney and three 12MW heaters have been installed at the key utilities section of the sapphire PET plant. Structural work for the main plant, which will cover 135,000sqm, has also started. The warehouses and raw material storage facilities have also been completed on or before schedule."


OQIC, Euler Hermes in tie-up
Oman Qatar Insurance Company (OQIC) has tied up with Euler Hermes, the world’s largest and leading credit insurer, to offer trade credit insurance solutions in Oman. According to OQIC, this is the first time such specialised solutions catering to trade credit risks are being offered here.
Euler Hermes is concentrating on the Middle East, which is witnessing booming economic growth, and recently set up a full-fledged operation in Dubai to service its GCC clients.

“There are an increasing number of Omani businesses that are multinational in their operations. Credit risk exposures in trade are real and need to be understood and managed. This insurance can also be seen as a financial risk management tool which enables the right balance between commercial aggressiveness and financial prudence. Uniquely, it can address both domestic and international trade credit risks,” says Thomas Devasia, general manager, OQIC.

Jef Vincent, regional CEO Asia of Euler Hermes, who was present at the press conference explained the benefits of the solutions being offered by the company to its clients. “The local team will be an integral part of the Euler Hermes network. The team will work on our risk database and our clients will have online access to it. From the first day our policy holders will enjoy the same quality of service as anywhere else in the world,” says Jef.

Euler Hermes is the number one credit insurance group in the world, with more than 35 per cent of the market. The company, rated ‘AA-’ by Standard & Poor’s, clocked a consolidated turnover of 2.01bn euros in 2006.

BankMuscat opts for TCS
BankMuscat has selected TCS BaNCS Securities Trading solution to assist its customers trade online on the Muscat Securities Market. TCS Financial Solutions is the strategic business unit of Tata Consultancy Services (TCS), which is dedicated to providing business application solutions to the banking, insurance and capital markets industries globally.

TCS BaNCS provides a comprehensive order, execution management and trading platform for both institutional and retail focused broker-dealers. The system offers seamless integration of trading and risk management and supports various markets, asset classes, languages and currencies. The business application connects with several liquidity destinations for order execution and interfaces with market data vendors for data capture, low-latency streaming and display of level one and level two quotes from multiple markets.

Amouage relaunches Dia
Amouage has relaunched its successful Dia fragrance in newly designed bottles, livery and packaging. The bottles have been designed to reflect the heritage of the brand and form an
element of continuity with the previous bottles to become recognisable the world over as signature pieces of the House of Amouage. A unique fusion of French sophistication and Arab exoticism, Dia was developed to complement Amouage’s first fragrance, Gold, which has become a global classic.

Adorned by pink gold embellishment, the design of the new men’s perfume bottle is inspired by the khanjar and the cap is reminiscent of ivory, whereas the women’s bottle is inspired by classical Arabian architecture and the cap is reminiscent of the beautiful dome of the Sultan Qaboos Grand Mosque. Both bottles have intricately designed wave effects on their sides and bases, reflecting the meaning of the Arabic word Amouage, which can be translated as ‘waves of emotion’, in its most literal sense.

Says David Crickmore, CEO, Amouage, “Amouage’s new identity has been developed to more accurately reflect the tastes and needs of the contemporary global consumer through our continued focus on international consumer mindsets and market trends. Dia is the second fragrance to be presented in the new livery in our efforts gradually to phase out the traditional packaging throughout the entire fragrance collection over time.”

Khimji Ramdas opens new mart
The Khimji Ramdas group recently unveiled its eleventh supermarket in Saham. The new supermarket, spread over 20,000sqft and situated in a central location, will cater to those living in the wilayats of Khaboorah, Al Qasabiyah, Maqaisah, Qasif, Al Hijari, Al Huwayl and Dil al Baraik.

Pankaj Khimji, director of Khimji Ramdas, says that this is part of the group’s plan to consolidate its retail presence in both category A and B towns. “Why should residents of emerging towns like Sohar miss out on the convenience of retail outlets? We want to change that.”
“The objectives of opening such stores has been twofold – one, to provide consumers with convenient shopping in their area of living, and two, more importantly, to generate employment for young Omanis. This helps not only in employment but also in development of local economies,” he says.


As a part of the company’s Omanisation programme, 23 young Omanis have been recruited and trained for the Saham outlet alone. The newly opened mart offers a wide range of products catering to the daily needs of its consumers. Apart from regular grocery products, there are specially designated sections for fresh vegetables and meat and poultry products in the new mart.
“All the features of our supermarkets in urban areas have also been incorporated into the Saham supermarket and it will be a delightful shopping experience for the people living in and around Saham,” says Adil Ghouse, general manager of consumer products group, Khimji Ramdas.

ODB opens Ibri branch
Oman Development Bank (ODB) has opened a new branch in the wilayat of Ibri in Dhahirah region as part of the bank’s expansion plan. As the 13th in the ODB network, it aims to support economic projects in the area. ODB provides project financing in all economic sectors, professions and loans for small investors. ODB offered loans worth RO282,000 to entrepreneurs in Ibri and the investment value of these loans has touched RO1.5mn since their operations at the end of last year.

The new branch in Ibri is in line with the latest economic developments witnessed by Dhahirah region and the increasing demand for establishing projects by entrepreneurs. Dhahirah region is characterised by the availability of different minerals, including marble and gold.

ODB is a pioneer bank specialising in financing small and medium enterprises. It has extensive experience in developmental lending and offers finance to industrial and agricultural sectors, livestock, fisheries, tourism, educational and training projects, vocational offices, traditional craft industries, workshops and IT projects.

In Person
Sanat Rao, vice president, global head – sales, Finacle Infosys Technologies, was in Muscat to commemorate the implementation of core banking solution (CBS) at Bank Sohar. According to Rao, the banking sector in the Middle East is now ready to embrace the latest IT solutions.

Was implementing CBS at Bank Sohar relatively easy because it was a new bank?
In a sense it was easier because it had no past legacy. However, it was challenging to manage the shifting deadline, as we had to look at new areas as desired by the bank. All said and done, both sides were satisfied on a job well done.

Is the Middle East a focus area for Finacle?
The Middle East is where the action will be in 2008 and it is a focus area for Finacle. Large regional banks in the UAE, Saudi Arabia and Egypt are looking at implementing CBS. We expect at least seven to eight decisions to be made very soon. We have an excellent track record and the right business model; we provide end-to-end solutions and we are a serious contender and expect to bag some of the projects, if not all.

Are there other banks in Oman that are looking at implementing CBS?
There is at least one bank in Oman that is on the verge of making a decision .

Is Basel II driving this growth?
Basel II is just a small component, but it is not the main driver for CBS. The cost of maintenance is getting high and that is hampering banks' ability to grow. Besides they are under tremendous peer pressure to implement CBS as they see benefits accruing to their competitors who have made the change. Until recently, there were lots of questions regarding the benefits of CBS. CEOs and CIOs were worried about the costs and risks involved. But now there are enough examples to prove their benefits.

What are the benefits of implementing CBS?
Finacle's core banking solution allows banks to design and deploy products for varying market segments such as consumer banking, wealth management, corporate banking, trade finance and Shariah products among others. It also brings in operational efficiencies, which increase output and enable speedy completion of tasks. A recent report by information technology research and advisory firm Gartner put Finacle in the leader quadrant in the Magic Quadrant for International Retail Core Banking 2006 report.

Is a strong rupee affecting Finacle's revenues?
Despite the rupee's gain against the dollar Finacle has seen its business volumes grow (Infosys lost Rs21bn in revenues because of currency appreciation in 2007). According to a study, banks will be spending nearly US$34bn by 2010 on CBS. Banks in the region are financially strong and as they migrate to CBS we will see that spend increase. Financial solutions account for nearly US$1bn of Infosys' revenues, and Finacle contributed 12 per cent last year and it will continue to grow.

visitor view

D H S Jayawardena
Chairman
Aitken Spence
D H S Jayawardena, chairman, Aitken Spence, was in Oman recently to sign an agreement with Oman Hotels & Tourism Company (OHTC) to manage the latter's four properties in the sultanate. These properties include Al Falaj and Ruwi Hotels in Muscat, Al Wadi in Sohar and Sur Plaza in Sur. The management agreement valid for seven years will add 406 rooms to Aitken Spence's portfolio. The company currently operates hotels in Sri Lanka, the Maldives and India. Aitken Spence is the leading resort operator in Sri Lanka with ten properties. It is also the fourth largest hotel operator in Maldives with eight resorts under the Adaaran brand. Aitken Spence has recently ventured into India operating two hotels under management contracts and expects to operate five more properties in the near future. The company's premier resorts operate under the brand Heritance.

Says Jayawardena "We are delighted to enter the growing Omani hospitality industry. Aitken Spence will be submitting a plan to the board of OHTC to improve the four properties enabling them to exploit the emerging tourism climate in the region."

A K Basu
General manager
Credit and International Business
State Bank of Travancore
Oman's Global Money Exchange, under the direct management of State Bank of Travancore (SBT), has introduced the National Electronic Fund Transfer (NEFT) system for its customers in Oman. NEFT is a system whereby funds are transferred electronically to the credit account of participating banks in India, using RBI's NEFT service. Says A K Basu, general manager, international banking, SBT, "The advantage of NEFT is that a person can have an account with any bank in India, irrespective of its location. Earlier, the beneficiary had to have an account with the remitting bank to be able to receive money. But now with NEFT, the transaction is electronically done, with just the account number."

SBT has rupee-drawing arrangements with 21 exchanges in the Middle East. It has recently raised the ceiling for housing loans for NRIs from US$124,000 to US$746,000. The bank has a hassle-free loan called Subidhaa, with a ceiling of US$62,200, in which an NRI can raise a loan for any purpose by leveraging his property. SBT has also got an approval from the Central Bank of UAE to open a representative office in Dubai.

Guy Coughlan,
Managing director
, National Car Rental, Middle East
UAE, Bahrain, Jordan, Kuwait, Lebanon, Qatar and now Oman too will have a regional office for global rent-a-car agency National Car Rental. Coughlan says he is delighted to be associated with the Shanfari Group – the agency’s partner – in Oman. Says Coughlan, “Their experience in the auto and travel industries will be invaluable for the new franchise.” The agency, which operates from 3,200 locations spread over 80 countries, will start its Oman operations with 40 vehicles that will later be expanded to 130 by the year-end. Although National has started operations from its lone office at the Al Sarooj Commercial Complex, new locations in Muscat and Sohar are expected to follow soon. “This latest addition to the National Network substantiates our commitment to the Middle East region and allows us to continue to serve the customer demand for greater choice and quality service,” says Coughlan.

Corporate moves

Abdul Azeem bin Abbas al Bahrani
Director General
OCCI
The Oman Chamber of Commerce and Industry's (OCCI) board has appointed Abdul Azeem bin Abbas al Bahrani as director general. Bahrani has worked with the public and private sectors in various capacities. He started off in December 1984 with the then Ministry of Environment and offered his expertise and services to various ministries till 1996. Bahrani has also worked with OIB, Bank Dhofar and Omantel in senior human resources roles. At OCCI, Bahrani says he will utilise his experience to boost the contribution of the private sector to the economy.

Asim Shrivastava
Head of Corporate Banking
HSBC Oman
An alumnus of St Stephen’s College, Delhi University, and holding an MBA from Jamnalal Bajaj Institute of Management Studies, Mumbai University, Shrivastava's new role in Oman covers corporate banking, trade finance, custodial services and trade finance. He has been with the HSBC Group for 15 years, and prior to moving to Muscat he was with HSBC corporate banking in Dubai, and before that was regional manager credit and risk in HSBC Middle East, Dubai. Shrivastava has also had a brief stint in Vietnam and as main branch manager in Mumbai.

Jay David
Country Manager, Oman
Jet Airways
Swiss-Belhotel International has appointed Muzaffer Bulgurcuoglu as general manager of Sohar Beach by Swiss-Belhotel, which commenced business in January this year following a takeover and rebranding. Prior to joining Swiss-Belhotel, Turkish-born Bulgurcuoglu was general manager of the Holiday Inn Port Harcourt, Nigeria. His background includes an education in Germany and several hospitality positions, including a 13-year stint with IHG hotels in Nigeria, Zambia and Turkey.

Front Runner

Rohan R Shetty, 28
Deputy Manager - Supply Chain
Jotun Paints

It is hard to find someone as young as Shetty who is as focused and has already planned his whole life. Shetty knows exactly where he's going to be when he has retired. But as things stand now, this management graduate from Cardiff University, Wales, with specialisation in operations, marketing and human resources, wants to prove himself in his present position at Jotun. "Jotun has a lot of opportunities for growth. I want to enhance my product knowledge in the technical field and then explore an opportunity in the sales team and perhaps later apply for an apex post in any of the Jotun companies worldwide." His strengths, Shetty says, lie in "my inclination to strive in the most difficult situations, willingness to learn and an ability to handle people".

Shetty also sees himself as an entrepreneur at some stage and in the long run, "would definitely open a cricket coaching clinic after I retire just so that I can live my passion."