BUSINESS THURSDAY, DECEMBER 12, 2013

Maldivian appoints Caesars Int’l Travel as GSA for Kuwait

MALDIVES: Maldivian, the national airlines of Dhaka - Bangladesh in 2012. In June 2013 Maldives has appointed Caesars Int’l Travel, one of Maldivian further expanded its network by starting Kuwait’s largest travel companies as their General flights to Chongqing, China. Sales Agent (GSA) for Kuwait, representing passen- “Maldivian representation under Caesars Int’l ger sales, holidays and cargo division. Maldives, a Travel marks another strategic step towards well known honeymoon hotspot reigns supreme as expanding the presence of leading airlines in the one of the most popular short-break options for world in Kuwait aviation arena and this will also tourists from the region. As flight connections from create a better travel potential for the travelers in the gulf are on the rise and targeting this vision, Kuwait. The proposed on-line operation of Maldivian plans to start online operations to Maldivian to Kuwait will foster new business and Kuwait in the near future. While assigning the GSA tourism to Maldives and near-by areas where on Caesars Int’l Travel, Maldivian’s managing direc- already Maldivian is operating now, provide even tor Abdul Haris said, “I believe the start of Maldivian more convenient connections for onward travel flights opens up our wonderful nation to a wider through their international hub in Maldives, espe- cially for India, Sri Lanka, Bangladesh”, commented PNJ Kumar, CEO of Caesars Travel Group. Maldives has deep blue seas, turquoise reefs, white sandy beaches and palm trees. It is also a place full of character, where its people have long spent their days languishing in the very essence of idyll living. The country is made up of 1,190 coral islands formed around 26 natural ring-like atolls, spread over 90,000 square kilometers. From the MALDIVES: Officials during Maldivian GSA assignment (from left to right) Rajesh Reghunathan, Senior award winning holiday destinations worldwide, Manager/Commercial & Marketing, Caesars Int’l Travel, PNJ Kumar, CEO, Caesars Travel Group, Ghazi Y Maldives is known for its one-of-a-kind private Al-Abdulrazzak, Chairman, Caesars Group of Companies, Abdul Haris-MD, Mohamed Imthiyaz-Head of island resorts, offering to the guests, gorgeous Commercial and John Lorcin-Manager/Sales from Maldivian. (Inset) Ghazi Y Al Abdulrazzak signs the white sandy beaches, and golden sunlight all year GSA agreement. round. surrounded by breathtakingly beautiful reefs with Maldivian to Kuwait, Caesars Int’l Travel can offer “The Middle East is a flourishing region and we coral gardens and dazzling marine life, which Indian sub-continent travelers from Kuwait, anoth- number of tourists, especially from Kuwait and we see a bright future for business and leisure travel attract divers from all over the world. Built away er bigger platform to reach their destinations look forward to welcoming them from a wider and our proposed operation to Kuwait will be a from civilization, Maldives Resorts & Maldives through the Maldivian hub in Maldives as the pres- range of destinations and developing our tourism stepping stone to further strengthen the bilateral Hotels are quite the hideaway destination for any- ent number of flights operating in these sectors are appeal. We are extremely positive about the mar- relations between Kuwait and Maldives. A destina- one looking for a tranquil besiege. “Maldives has all not enough to meet the demands from passengers ket in Kuwait, the oil-rich nation with a healthy tion of diversity and sophistication, Maldives pro- the natural elements of a world-class destination- of Kuwait. Moreover, in a bid to remain competi- appetite for travel and that has maintained strong vides visitors an assortment of relaxing experi- landscape, number of islands and the state of art tive in line with Kuwait’s growing aviation market economic growth and the world’s leading nations”. ences. This is a significant move towards strength- resorts. Most of the resorts in these island country needs, Caesars Int’l Travel always take innovative Maldivian commenced its first regional opera- ening our tourism business from Kuwait by signing are designed to become a haven of luxurious life steps by further expanding our presence among tions in 2008 with the first flight to Trivandrum, this partnership with one of the leading travel set- style living and an un-paralleled leisure destination. our valued passengers and we will continue to India. Today, the flag carrier operates daily frequent ups in Kuwait, Caesars Int’l Travel”, said Fathmath This incredible development comprises of water- establish new partnerships with world’s leading air- flights to 8 domestic airports in the country. In Inasha Shareef, Assistant Manager of Maldivian front homes, floating villas, beach bungalows, lines to enhance more seat capacities to destina- addition to daily flights to Trivandrum, Maldivian Holidays. hotels, sporting facilities and commercial areas tions in demand from Kuwait”, said Rajesh added 2 more destinations to its regional network The Maldives has a reputation as one of the best which is becoming a major tourist attraction of Reghunathan, Senior Manager-Commercial & by commencing flights to Chennai - India and diving destinations in the world and the islands are Maldives. Further, with the proposed operation of Marketing, Caesars Int’l Travel. EU talking to IMF, World Bank, others about Ukraine assistance Focus on help to Ukraine if it signs EU trade deal

BRUSSELS: European officials are in discussion with sums and working out what investment programmes financed using the local hryvnia currency, which is at a the International Monetary Fund, the World Bank and there already are and what others are in the pipeline four-year low against the dollar and forecast to lose a other major financial institutions on ways to help and could be activated if Ukraine decides to sign the further 9 percent in the next six months. Ukraine if it decides to sign a free-trade agreement association agreement.” As well as the IMF and World Without international aid, investors fear Ukraine with the European Union. Ukrainian Prime Minister Bank, the discussions involve the European will struggle to repay $7 billion of hard currency debt Mykola Azarov was quoted as saying yesterday he had Investment Bank and the European Bank for falling due next year, while it is also dealing with a bal- asked the EU for 20 billion euros ($27 billion) in aid to Reconstruction and Development. ance of payments deficit and unpaid gas bills from offset the cost of signing the EU deal, which Kiev All four institutions already have operations in Russia. In its efforts to find a solution to the rapidly backed away from last month in favour of closer ties Ukraine, though the IMF has suspended talks on a escalating crisis, the EU has also explored whether it with Russia, sparking huge street protests and a finan- stand-by loan facility because of Ukraine’s failure to could bring forward financing that would have gone cial crisis. meet the conditions. The World Bank mostly lends to to Ukraine over the coming seven years as part of its It is not clear how Azarov came to the 20 billion fig- specific industrial sectors via its International Finance association agreement. Any advances would only hap- ure, but EU officials believe it was based on broad esti- Corporation arm, while the EIB has a mandate to pen if Ukraine signs the deal, and the current amount mates of the cost of lost trade with Russia, Ukraine’s finance major infrastructure projects, such as roads, available - the 610 million euros - is in any case condi- former overseer and largest trading partner, and the railways and power lines. The EBRD has invested near- tional on Ukraine securing an IMF agreement. The IMF financial burden of adopting a wealth of regulations ly 9 billion euros in a range of public and private wants Ukraine to introduce more exchange rate flexi- Wataniya Telecom enhances that come as part of the EU deal. There is no question investments since it first moved into Ukraine in 1993. bility - effectively allowing the currency to devalue - of the EU providing 20 billion euros to Ukraine - the “We are a major catalyst for foreign direct invest- and remove subsidies from domestic gas supplies, but rewards program ‘Nojoom’ most Brussels has so far offered is 610 million euros - ment in Ukraine,” said Anton Usov, a spokesman for Kiev has refused. Some EU officials say the IMF is pre- as it would be almost impossible to get pan-EU agree- the EBRD in Kiev. “If we say we are staying here and pared to be flexible in applying its conditions, for KUWAIT: Wataniya Telecom, the first private professional team work. Members of ment at a time when it is struggling to help several investing, that sends a strong message of confidence example by allowing Ukraine to phase in the removal telecom operator in Kuwait, has recently “Nojoom” can benefit from the special dis- indebted euro zone member states. to the wider investment community.” of subsidies or retain them for less well-off Ukrainians. enriched its Wataniya Rewards Program counts offered by Sama by simply showing But the combined impact of aid and financing pro- But publicly, the IMF’s line remains firm. “The IMF is “Nojoom” through partnerships with some of their membership details by dialing *5##. grammes from multiple institutions, including the EU, IMF loan talks on hold ready to move, especially on the commodity prices the best brand names in Kuwait offering an Wataniya Telecom expressed its delight might go some way to providing Kiev with the invest- The discussions among the institutions have been issue,” said the foreign policy adviser to one EU leader, added value to its customers. The recent part- regarding the partnership and is looking for- ment it needs to remain solvent in the event it rejects taking place for several weeks as concerns have grown who spoke on condition of anonymity. “If you ask nership with Sama Dental Center stems from ward to a fruitful cooperation: “Wataniya’s Russia’s advances and signs up with the EU. “We’re not about how to hold Ukraine’s economy together, with them, they will deny it, but behind the scenes there is Wataniya’s mission to offer variety and efforts continue to find new ways to provide talking about a coordinated package to entice Ukraine solvency a pressing issue. The cost of insuring a lot of discussion going on along those lines.” Asked options to its customers and expand its net- members with a wide range of choices on out of Russia’s arms and into the EU’s,” one official Ukrainian bonds against default - a measure of the risk where talks stood, an IMF official dealing with Ukraine work of partners as part of the best loyalty rewards because they deserve to be appreci- familiar with the discussions told Reuters. “That would international investors attach to owning Ukrainian said there had been no progress, but the issue would program of its kind in Kuwait and in an effort ated and valued for their loyalty and dedica- be the wrong way of looking at it. debt - rose towards a four-year high yesterday. Much be discussed at a board meeting in Washington on to introduce new options to its customers. tion. The partnership with Sama Dental “It is just a case of the various institutions doing the of the debt is denominated in dollars but must be Dec 16. — Reuters In collaboration with Sama Dental Center, Center is another added value to the program “Nojoom” members will be able to use a vari- which was awarded The Best Loyalty Program ety of specialized, comfortable, safe and in the Middle East by Customer 360 ME last IMO commends Dubai Maritime Authority’s efforts to advanced dental services provided by Sama’s year.” create a sustainable maritime sector in the Emirate

DUBAI: A high-profile delegation from Dubai Maritime City Authority (DMCA), met with Koji Sekimizu, Secretary-General of the International Maritime Organization (IMO), in London and dis- cussed the latest developments regarding the imple- mentation of Dubai’s Maritime Sector Strategy (MSS), which is aimed at developing, regulating and promot- ing the various components of the maritime field in Dubai to make it a globally recognized maritime clus- ter. In addition, DMCA officially invited the IMO Secretary-General to be guest of honour at Dubai Maritime Week 2014 which is set to run till October 2014. The event represents a significant milestone to promote Dubai’s leading position in hosting interna- tional maritime events. The meeting shed light on some of Dubai’s major industry achievements, including the launch of mod- IKEA recalls lamps for repair ern maritime regulations and initiatives to meet the new requirements for managing maritime operations under the highest standards of security and profes- KUWAIT: IKEA urges all customers that have Returns department or call Customer Services sional safety and best environmental practices, as well boost local maritime competitiveness and contribute uous support to further maritime best practices across an IKEA SMILA wall mounted lamp to check on 1840408 to receive a repair kit free of as local and international policies. to comprehensive and sustainable development the UAE, and reaffirmed DMCA’s commitment to con- immediately that the lamp and cord are out charge containing a warning label, safety The delegation, led by Amer Ali, Executive Director across the UAE. Amer Ali, Executive Director of Dubai tinue their ongoing efforts to promote the Dubai’s of reach of children when in a cot or playpen instructions and self-adhesive fasteners for of DMCA, further shared aspects of Dubai’s MSS which Maritime City Authority, appreciated the IMO’s contin- maritime sector initiatives. and securely fastened to the wall. Loose lamp fixing the lamp cord to the wall. is based on key fundamentals and core values related cords can present a strangulation hazard to IKEA reminds customers that any corded to leadership and excellence in customer service, infants and young children. product such as a window covering or blind innovation, cooperation and the effective promotion Mexico Senate debates IKEA has received a report indicating a can present a strangulation hazard. of human resources as well as the upkeep of a healthy tragic accident where an infant got entangled Accessible cords should always be kept out of maritime environment. All this will go on to boost in the cord of a SMILA wall mounted lamp. reach of young children. IKEA apologizes for Dubai’s competitiveness at the regional and global disputed oil reform Customers are asked to contact Exchange & any inconvenience this may cause. levels, as well as establish a basic infrastructure to raise the bar of the local maritime industry in line with the MEXICO CITY: Mexico’s Senate opened a debate schemes that fall short of more controversial highest standards and best international practices. Tuesday on controversial legislation to break the concessions. The proposed constitutional The IMO delegates were also briefed about the country’s oil monopoly by allowing foreign firms changes stem from a deal between Pena Nieto’s new maritime legislations and regulations which have to drill for crude for the first time in 75 years. The centrist Institutional Revolutionary Party (PRI) positively impacted the local maritime industry in bill, which has sparked demonstrations, is the and the conservative opposition National Action Dubai. Most important among these is the legislative centerpiece of President Enrique Pena Nieto’s Party (PAN). The two parties say the reform is frameworks aimed at reinforcing the ability to respond sweeping reform drive, which has led to new badly needed to modernize Pemez and reverse to maritime requirements while catering to the ongo- laws in tax collection, telecommunications and falling oil production. ing efforts to create an attractive investment environ- education in an effort to revitalize Latin “History judges events and it will have to ment for industry leaders and establish a secure and America’s second biggest economy. The latest judge this reform as a turning point for the vibrant maritime sector serving the regional and inter- reform would let private firms explore and national economy,” said PRI Senator Oscar national community. The meeting also covered some extract oil and gas as well as share profits, pro- Roman Rosas Gonzalez. But the left-wing of DMCA’s leading initiatives, including Dubai duction and risks with state-run energy giant Democratic Revolution Party (PRD) equates the Maritime Week and Maritime Safety Policy which Pemex, ending a ban cemented in the constitu- plan to treason and submission to US oil compa- mainly focus on positioning Dubai amongst the tion. nies, calling the legislation a bid to privatize a world’s best maritime hubs. The bill proposes a contract and licensing symbol of national sovereignty.—AFP Koji Sekimizu commended the efforts of DMCA to