BUSINESS SUNDAY, JULY 20, 2014

Qalaa Holdings founder increases stake by 4% in CCP

KUWAIT: Ahmed Heikal, Chairman and Founder of tained their share of CCP intact at 19.32% and 13.11% controls majority stakes in most of its core invest- Qalaa Holdings (CCAP.CA on the Egyptian Exchange, respectively. The transaction did not result in any ments in the energy, cement, agrifoods, transporta- formerly Citadel Capital), an African leader in infra- increase in CCP ownership in Qalaa Holdings, which tion & logistics and mining sectors. structure and industry, has increased his stake in currently stands at 25.6%. “The recent reform decisions announced by the Citadel Capital Partners (CCP), the lead investor in the “I am exceptionally optimistic about the prospects Egyptian government have left me with a conviction Qalaa Holdings, by 4%. for growth not just in Egypt but also in Africa,” said that Egypt is on the right track. I am fully convinced CCP is the vehicle through which senior manage- Heikal. “There is no better means of underscoring this that Qalaa Holdings will continue to be a very impor- ment of Qalaa Holdings hold their equity in the firm. than by a transaction of this nature. Ensuring that our tant player in Egypt and that reforms in Egypt will be CCP has just completed a capital increase subscribed team has the means to build personal ownership in very beneficial for everyone including our firm,” said to by CCP partners at a price of EGP 5 per share. The the firm is a key tool that aligns the interests of Qalaa Heikal. “We have a strong and deep managment team transaction brings Heikal’s ownership of CCP to Holdings staff with those of our shareholders.” in place and a large number of fantastic portfolio 58.84%. Hisham El-Khazindar Co-Founder and Following the recent completion of a capital companies that operate in key sectors that will be Managing Director of Qalaa Holdings and Karim increase to EGP 8 billion, Qalaa Holdings continues to beneficial to Egypt as the country embarks on a new Dr Ahmed Heikal Sadek Managing Director of Qalaa Holdings main- transform into an investment holding company that path towards reform.” Gaby-LuiseWuest named vice president

DUBAI: Infiniti has named Gaby- executive program for international LuiseWuest its new Vice President, Global trainees. She subsequently held vari- Operations, effective September 1, 2014. ous roles in Marketing, Public In this capacity, she will have global Relations and Sales within BMW before responsibility for Infiniti sales and after- she moved to China in 2007 as the sales, fleet sales, retail network develop- General Manager, BMW Group China ment, and sales & product training. In Import Office. In 2010, she was pro- addition, she will have full market respon- moted to Regional Head, BMW Group sibility for Infiniti’s markets in the Asia / China and Coordination , Oceania region with the exception of BMW Brilliance Automotive, based at China. She joins Infiniti from the BMW the company’s Munich headquarters. group where she has most recently been In 2012, she was appointed to her the Regional Head of Asia-Pacific most recent position in charge of Mini and South Africa. Wuest succeeds Asia-Pacific and South Africa. Francois Goupil de Bouille who had earli- A German national, Wuest has a er been appointed Infiniti Vice President, degree in Business Administration and a Europe, Middle East and Africa. Master of Commerce from the European Wuest started her automotive Business School in Oestrich-Winkel, career in 1994 with BMW in the young Germany.

Sophisticated new technology for safety and connectivity 2015 Cadillac Escalade

DUBAI: Technology is integral to the Escalade’s A Driver Assist package adds Full Speed also is displayed on an available, full-color head- driving experience. New and enhanced features Range Adaptive Cruise Control, Front and Rear up display. Along with vehicle systems informa- help make what already was one of the indus- Automatic Braking, Automatic Collision tion, the color driver information center also try’s most-connected vehicles more intuitive. Preparation and Automatic Safety Belt provides details on the audio, Bluetooth phone Escalade’s new technologies include safety Tightening. and navigation systems, and they can be easily features to help protect occupants before, dur- Additionally, Side Blind Zone Alert, Rear Cross adjusted via steering wheel controls. ing and after a collision, such as Front and Rear Traffic Alert and Lane Change Alert are standard The 2015 Cadillac Escalade arrives in show- Automatic Braking, which relies on short-range on the Premium model. rooms across the Middle East in August 2014. radar technology and ultrasonic sensors to help For the first time, Escalade will feature CUE Cadillac has been a leading luxury auto brand the driver avoid low-speed collisions via a pro- standard. The eight-inch center screen uses since 1902. Today Cadillac is growing globally, gression of alerts that extend to complete brak- capacitive touch technology and gesture recog- driven by an expanding product portfolio featur- ing, if necessary. nition, enabling tapping and swiping common ing dramatic design and technology. Described Also new is the segment’s only front-seat cen- to smartphones and tablets. CUE uses proximity as luxurious, having a bold and daring personali- Gaby-LuiseWuest ter air bag, designed to inflate between the driv- sensors to activate common options and con- ty, being tough and strong as well as safe and er and front-seat passenger for added protection trols as the user’s hand approaches. An expand- powerful, Cadillac has maintained an iconic in far-side impact crashes when the affected ed “favorites” section offers quick access to presence for over 85 years in the Middle East. occupant is on the non-struck side of the vehi- phone contacts, navigation destinations - even The Cadillac portfolio in the Middle East fea- cle. digital music - in the same one-touch form as tures award-winning passenger ATS, CTS Qatar Airways orders A Driver Awareness package includes Forward traditional radio presets. and XTS as well as the SRX crossover and Collision Alert, Lane Departure Warning System, The instrument cluster features a standard, Escalade SUV. Cadillac also offers customers a and the patented Safety Alert Seat, which pulses reconfigurable, high-resolution 12.3-inch digital high-level aftersales service experience through GE90-powered Boeing the left, right or both seat cushion bolsters to driver information center display paired with the Premium Care Program. For more informa- 777 freighters alert the driver of a dangerous situation. Cadillac’s CUE infotainment system. Key data tion, please visit www.cadillacarabia.com

FARNBOROUGH AIR SHOW: Qatar GE’s commitment to implementing Ooredoo Customers can Airways ordered four GE90-powered innovative, cost-effective technologies Boeing 777 Freighters, with an option that enhance the customers’ environ- Travel Freely Around the for an additional four 777 Freighters. The mental and operating performance. firm engine order is valued at more than Qatar Airways, the State of Qatarís globe with ‘My Passport’ $250 million (USD) list price. national airline, has seen rapid growth in ìThe GE90 engine continues to out- just 17 years of operations, to the point KUWAIT: Ooredoo in Kuwait’s My Passport developed My Passport packages them in perform our expectations,î said Chaker where today it is flying a modern fleet of Transfer your service allows customers to travel freely mind to be able to roam without any surprises, Chahrour, vice president and general 134 aircraft to 144 key business and around the globe without any bill shocks. offering complete peace of mind during trav- manager of Global Sales & Marketing at leisure destinations across Europe, salary to ABK and Subscriptions to GCC or Global pack with My el.” The below table shows “My Passport” Packs: GE Aviation. ìThe engine was enhanced Middle East, Africa, Asia Pacific, North Passport will let customers know exactly what My Passport serviceoffers a choice between to reduce fuel burn by 3.6 percent from American and South America. Qatar they will be paying before travelling and offers two packages, Global Passport and GCC pass- the 2000 launch specification and is well Airways recently joined the one world receive KD 100 complete flexibility to call, SMS and surf the port. More information, as well as countries below international standards on key Alliance, becoming the only major Gulf internet. covered and partner telecoms operators can emissions. It remains one of the most carrier to join a global airline alliance, KUWAIT: Al Ahli Bank of Kuwait offers its customers several popular engines in the GE portfolio.î enabling its customers to benefit from specialized services, and is constantly upgrading its current GCC passport Global passport More than 1,500 GE90-115B engines almost a thousand airports in more than products to be on par to meet customer needs. The Bank have been ordered by customers for 150 countries, with 14,000 daily depar- offers new customers a gift of KD 100 and other benefits upon Voice minutes 30 30 their Boeing 777-300ERs, 777-200LRs tures. Qatar Airways has orders worth transfer of salaries that start from KD 500. Internet 200MB 200MB and 777 Freighters. At 115,000 pounds over US$50 billion for more than 300 air- Stewart Lockie, General Manager of Retail Banking stated, of thrust, the GE90-115B engine craft. For more information, visit “We are proud to see ourselves becoming the banking partner SMS 30 30 includes such performance-enhancing www.qatarairways.com. of choice for our customers. Customers with a salary of KD 500 Price KD 9 KD 19 features as three-dimensional aerody- GE Aviation, an operating unit of GE, or above receive a gift of KD 100, the Visa Gold card free of namic (3-D aero) compressor and wide- is a world-leading provider of jet, turbo- charge for the first year, free travel insurance, a free checkbook To activate SMS 1 to 1241 2 to 1241. chord, swept composite fan blades for prop and turbo shaft engines, compo- for the first time and other advantages upon transferring their Packs are valid for 7 days. greater efficiency. The dual annular com- nents and integrated systems for com- salaries to ABK.” bustor emits no more than 40 percent of mercial, military, business and general Lockie added, “Customers that have a salary exceeding KD Ooredoo stated the fact that “Both the be found by following the below link: the hydrocarbons allowed by today’s aviation aircraft. GE Aviation has a global 1000 receive all the benefits mentioned earlier, in addition to a summertime and the Eid vacation are very http://www.ooredoo.com.kw/en/Offers/Mo international standards. service network to support these offer- 50% discount on the standing order issuance fees, free of high seasons for roaming. Knowing that our re/My-Passport—Roaming-Packs Snecma of France and IHI ings. For more information, visit us at charge money transfers, free valet parking service at 14 popu- customers continuously seek connectivity, we Corporation of Japan are revenue-shar- www.ge.com/aviation. Follow GE lar spots such as malls and restaurants, in addition they also ing participants in the GE90 program. Aviation on Twitter at get a safety deposit box service free of charge for the first year.” The GE90-115B engine is part of GE’s http://twitter.com/GEAviation and For more information about services and products offered by “ecomagination” product portfolio — YouTube at ABK, kindly visit one of the branches, call Ahlan Ahli 1899899. Serbia passes labour laws in reform drive

BELGRADE: Serbia approved laws reducing job laws, despite hostility from the opposition and more than 20 percent, while enabling it to protection and raising the retirement age for unions arguing that the measures will hit work- reduce the public sector of more than 700,000 women on Friday in the first steps of deep ers too hard. workers in a population of 7.2 million. reforms to revive the seriously flawed economy, Serbian Prime Minister Aleksandar Vucic has The pension law raises the retirement age for and fight high unemployment. argued that the laws are vital since Serbia has women from 60 to 65, the same as for men, by Parliament is also set to debate privatisation “more pensioners than those employed, and of 2032. and bankruptcy law by the end of the month as those, more than 50 percent work in the public Vucic, who was elected earlier this year on a part of the wide-ranging reforms. sector.” promise to overhaul Serbia’s ailing economy, Serbia, which is heading for a public debt of The Balkan state is expected to post a record said his cabinet was ready to push through 70 percent of gross domestic product this year, budget deficit of 8.0 percent of output this year, painful reforms that include increased taxes, as began negotiations in January to join the with growth forecast to fall to 1.0 percent, down well as fresh cuts in the public sector and to gen- European Union. from 2.5 percent last year. erous subsidies. The labour and pension reforms are intended But output could fall further by 0.2 percent- But he admitted that he was “not ready” to to increase flexibility in the labour market. age points owing to devastating floods that allow the decrease of pensions by 20 percent They are also intended to lower the costs of struck in May. nor reducing public sector wages by 20 percent, shedding staff by reducing statutory redundan- The new labour law is intended to make the proposed within austerity measures by his cy payments, while opening the way to reducing job market more flexible, making it easier for finance minister. a huge public-sector labour force. employers to hire and fire people. That minister, Lazar Krstic, stepped down last A total of 190 lawmakers in the 250-seat The government hopes that the law will week citing a disagreement with Vucic over the strong parliament supported the long-awaited reduce an unemployment rate now running at pace of economic reforms. — AP