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.