• 19 July 2018 5:22 PM | Anonymous member (Administrator)


    • #1 in U.S. Rates Strategy and #1 in Technical Analysis
    • Only Canadian firm to earn a spot in the leader's table

    TORONTO and NEW YORK, July 19, 2018 /CNW/ - BMO Capital Markets' Fixed-Income Strategy group has earned top rankings in Institutional Investor's 2018 All-America Fixed-Income Research Team Survey.

    Rankings are determined by input from more than 1,900 portfolio managers and buy-side analysts from around the world, collectively overseeing nearly $10 trillion in U.S. fixed-income assets. They select the best firms in high yield, investment grade, economics and strategy.

    For the first time, BMO Capital Markets' Fixed-Income Strategy group ranked in the top 10 overall, and is the only Canadian firm to earn a spot on the leader's table. BMO Capital Markets also secured the #8 position on the Economics and Strategy leader's table. In the individual categories, the group earned the following honours:

    • #1: U.S. Rates Strategy – Ian Lyngen, Head of U.S. Rates Strategy; and team
    • #1: Technical Analysis – Ian Lyngen, Head of U.S. Rates Strategy; and team
    • Runner-up: Federal Agency Debt Strategy – Margaret Kerins, Head of Fixed-Income Strategy; Dan Krieter, Director; and team
    • #6: Fixed-Income Strategy, Margaret Kerins, Head of Fixed-Income Strategy; and team

    "This is an incredible accomplishment for our entire team and a real demonstration of our commitment to and momentum in our global fixed income business," said Deland Kamanga, Head of Global Fixed-Income, Currency and Commodities, BMO Capital Markets. "We will continue to provide clients with the best fixed-income strategy, economics and FX expertise."

    About BMO Capital Markets
    BMO Capital Markets is a leading, full-service North American-based financial services provider, with approximately 2,500 professionals in 30 locations around the world, including 16 offices in North America, offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group (NYSE, TSX: BMO), one of the largest diversified financial services providers in North America with US$579 billion total assets as of April 30, 2018.

    SOURCE BMO Financial Group


  • 04 July 2018 11:19 AM | Anonymous member (Administrator)


    Eugene Conradie has taken up the role of Food and Beverage Manager at the historic five-star hotel at the Corniche. In his new role, Eugene will oversee all food and beverage operations across the five-star property from planning and controlling orders to managing finances and purchases.

    Part of the Hilton family for more than three years, the South African hospitality professional moved to Abu Dhabi from Transcorp Hilton Abuja in Nigeria. He brings eight years of hospitality experience to the five-star hotel on the Corniche, having previously handled similar roles in hotels and restaurants in South Africa and Oman.

    Eugene Conradie, Food and Beverage Manager at Hilton Abu Dhabi, said: “I am incredibly excited about my role at Hilton Abu Dhabi and to continue my journey with Hilton Hotels & Resorts. I will focus on inspiring the F&B team to excite the guests with our offerings and will ensure that we continue to be the preferred dining destination in the city.”

    Eugene prides himself on his energetic work ethos and his aptitude for driving team development. His innovative dining concepts and outstanding levels of customer service has won awards for many of his restaurants over the years.

    Hans Schiller, Cluster General Manager – Hilton Abu Dhabi and Hilton Al Ain, said: “We are delighted to have Eugene on board at Hilton Abu Dhabi. His wealth of experience will be a great addition to the team here. We look forward to seeing how he will reinforce our capabilities in delivering a great dining experience to our guests.”

     

    About Hilton Abu Dhabi

    Located on the Corniche, Hilton Abu Dhabi has 326 rooms overlooking the Arabian Gulf and the city skyline, as well as 12 restaurants and bars including the award-winning Bocca and Vasco's restaurants and Jazz Bar &Dining. Hiltonia Beach Club offers 11,000 sqm of pristine white sand, three pools, kids’ waterslide, water sports centre and a fully equipped health club with personal training and group exercise classes. The hotel caters for conventions, social gatherings and weddings for up to 2,000 people in 11 indoor and outdoor venues. Hilton Abu Dhabi is just 25 minutes from Abu Dhabi International Airport and close to popular attractions such as the Heritage Village, the Yas Marina Circuit, Ferrari World and the stunning Sheikh Zayed Grand Mosque. For more information, visit abudhabi.hilton.com.

    About Hilton Hotels & Resorts

    For nearly a century, Hilton Hotels & Resorts has been proudly welcoming the world's travelers. With more than 575 hotels across six continents, Hilton Hotels & Resorts provides the foundation for memorable travel experiences and values every guest who walks through its doors. As the flagship brand of Hilton, Hilton Hotels & Resorts continues to set the standard for hospitality, providing new product innovations and services to meet guests' evolving needs. Hilton Hotels & Resorts is a part of the award-winning Hilton Honors program. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits, including a flexible payment slider that allows members to choose nearly any combination of Points and money to book a stay, an exclusive member discount that can’t be found anywhere else, free standard Wi-Fi, and digital amenities like digital check-in with room selection and Digital Key (select locations), available exclusively through the industry-leading Hilton Honors app. Begin your journey at www.hilton.com, and learn more about the brand by visiting news.hilton.com or following us on FacebookTwitter and Instagram.

    Media can access additional information about Hilton Abu Dhabi and Hiltonia Beach Club, Fitness and Spa at news.hilton.com/abudhabi

    Source: www.hozpitality.com
  • 30 May 2018 11:20 AM | Anonymous member (Administrator)


    Financial Results Highlights

    Second Quarter 2018 Compared with Second Quarter 2017:

    • Net income of $1,246 million, unchanged reflecting the restructuring charge in the current quarter; adjusted net income1 of $1,463 million, up 13%
    • EPS2 of $1.86, up 1%; adjusted EPS1,2 of $2.20, up 15%
    • ROE of 12.6%, unchanged; adjusted ROE1 of 14.9%, up from 13.1%
    • Provisions for credit losses (PCL) of $160 million, including a $12 million recovery of credit losses on performing loans3, compared with $251 million in the prior year
    • Common Equity Tier 1 Ratio of 11.3%
    • Dividend increased by $0.03 from the prior quarter to $0.96, up 7% from the prior year

    Year-to-Date 2018 Compared with Year-to-Date 2017:

    • Net income of $2,219 million, down 19%, reflecting the revaluation of our U.S. net deferred tax asset4 and the restructuring charge in the current year and a net gain5in the prior year; adjusted net income1 of $2,885 million, up 2%
    • EPS2,4 of $3.29, down 19%; adjusted EPS1,2 of $4.31, up 3%
    • ROE of 11.0%, compared with 13.8%; adjusted ROE1 of 14.4%, up from 14.2%
    • Provisions for credit losses of $301 million, including a $45 million recovery of credit losses on performing loans3, compared with $418 million

    TORONTO, May 30, 2018 /CNW/ - For the second quarter ended April 30, 2018, BMO Financial Group (TSX:BMO) (NYSE:BMO) recorded net income of $1,246 million or $1.86per share on a reported basis, and net income of $1,463 million or $2.20 per share on an adjusted basis.

    "BMO's results this quarter demonstrate strong performance and momentum in our U.S. and Canadian P&C banking and wealth businesses, which drove adjusted earnings per share of $2.20, up 15% from a year ago, and very strong adjusted operating leverage of 3.5%," said Darryl White, Chief Executive Officer, BMO Financial Group.

    "Across the company we're positioning BMO for accelerated growth. Our commercial business is a core strength and is delivering results. Our U.S. segment, which contributed 27% to year-to-date adjusted earnings, is a key differentiator and we'll continue to grow it faster than the rest of the bank. We're transforming how we work and how we compete – unlocking efficiency and creating value for our customers.

    "I am confident that with our team of dedicated employees, and through ongoing investment in our technology and innovation agenda, we will continue to enhance loyalty, increase efficiency and deliver sustainable shareholder value," concluded Mr. White. READ MORE.

    Source: bmo.com


  • 22 May 2018 9:49 AM | Anonymous member (Administrator)


    Forty-five years ago this week, Sheikh Zayed opened the Hilton Abu Dhabi, bringing a new luxury - and smoked salmon - to the city


    Hilton Abu Dhabi and the Corniche as it looked around 1975. Courtesy Alain Saint Hillaire 

    On a sunny afternoon in 1973, a group of people gathered on what had been an empty sandbank just a few years before.

    They were waiting for Sheikh Zayed, who on May 23 was about to open a building that would change Abu Dhabi for ever.

    At around 1.30pm, the late president cut the ribbon on Hilton Abu Dhabi using golden scissors.

    On that day forty-five years ago, the late president toured the function halls, swimming pool and tennis courts along with the manager, Ahmed El Nahas.

    Afterwards, hundreds attended a lavish state lunch at the hotel’s Liwa ballroom, the police band played while a model of the Maqta Bridge was placed on the centre table.

    Built at a cost of Dh38 million, it represented a new era of internationalism for the city.

    Abu Dhabi had hotels before. The Beach Hotel had operated on the site of the modern-day Sheraton Corniche, the Al Ain Palace was open, while Al Ain already had its own Hilton.

    But this was the first five-star brand in the city, redolent of a glamourous era when top hotels where the place to be seen. Abu Dhabi also desperately needed to cater for the surging number of visitors arriving on the back of the oil boom.

    News of the 1973 opening was carried comprehensively in all the newspapers including Al IttihadGulf Mirror and Abu Dhabi News, with Al Ittihad devoting an entire page inside to the opening.


    An advert for Hilton Abu Dhabi that appeared in Gulf Mirror, May 1973.

    Hilton Abu Dhabi had ten floors, about 180 rooms, five function halls, a bowling alley, arcade games, tennis courts, an outdoor pool with air-conditioned cabins and a view of the Arabian Gulf on one side and Al Bateen beach on the other.

    “We drove in cavalcade down a tarmac road through flat desert towards the sea. There was a town there. A new town spreading over the sand. It was Abu Dhabi,” wrote Patricia Holton in her 1991 book, Mother Without a Mask, about the hotel in the 1970s.

    “We drove along the seafront to a new Hilton hotel which stood on lonely splendour at one end of narrow road that would eventually become … the Corniche,” she wrote.

    “The hotel looked like a fort, standing strong and tall in the desert night. Inside its lobby was cool and broad with a few white couches. The space seemed right for the white-robed Arab men and the long, full skirts of the European, Indian and Mediterranean women who dressed in the evening.”

    Hilton Abu Dhabi not only dominated its surroundings, it introduced new foods, higher levels of service and a breakfast buffet of such variety that had never seen been in the city.

    New foods included iceberg lettuce, artichokes, smoked salmon, avocado and foie gras. French food dominated the menus and everything had to be flown in from London once a week.

    Selim El Zyr was Hilton Abu Dhabi’s first food and beverage manager.

    “Smoked salmon – that was a big story,” recalls Mr El Zyr.

    “And the vegetables that are today in every supermarket and back streets of Abu Dhabi were then were a novelty,” says Mr El Zyr, who went on to co-found Rotana.


    A view of Hilton Abu Dhabi taken around 1975. Courtesy Alain Saint-Hilaire

    Of course a night at the Hilton did not come cheap. Mr El Zyr recalls a one-night stay cost then cost about Dh450, which is more expensive than a stay today during Ramadan.

    The day after the official opening a more informal cocktail party was held. Music was laid on by the Toni Rossi Group, who rocked out in safety helmets and overalls on a stage designed like a scaffold underline the epic effort to get the hotel built. In the middle of the ballroom was a huge model of the new Hilton.

    “I must admit to thinking it was a real edible cake, so did a lot of other people,” wrote Janet Godfrey in a lively account of the night for Abu Dhabi News.

    “I was not the only one caught poking a sly finger through a 4th floor window to see if it came out coated with jam and cream."

    In the years that followed, many new hotels sprung up and trends had begun to swing from business to tourism. By 1994, Hilton Abu Dhabi went through a renovation. The bowling alley became Hemingway’s, the Hiltonia beach club opened, while a new wing added sorely-needed rooms. But it also strove to maintain the spirit and sense of home as those early days. Twelve years ago, Hans Schiller used to walk the Corniche and tell his wife that one day he’d become manager there.

    “It’s very seldom that a hotel is 45 years old and still has the spirit. Look at all the modernity around us and people still like to come here,” says Mr Schiller, a German hospitality veteran who has been manager since last August. Many guests come back again and again to celebrate anniversaries and birthdays and for Mr Schiller, it’s like coming home.


    Hilton Abu Dhabi's veteran employees, from left, Samir El Kerwash, Naeem Ahmed and Sulaiman Taha. Victor Besa / The National

    According to the most recent figures Abu Dhabi has at least 169 hotels and in 2017 welcomed more than five million guests. It now boasts a number of five-star hotels run by Jumeirah, St Regis, Ritz-Carlton and Four Seasons. But they all owe a debt to that May 23 day.

    “The impact that it made was tremendous,” recalls Mr El Syr. “For entertainment in the city, it was Hilton. If you wanted to eat a decent meal, you went to Hilton. That was the place to be.”


    Source: The National


  • 17 May 2018 10:21 AM | Anonymous member (Administrator)

    Employment Opportunity for Relationship Manager

    The Canadian Business Council (CBC) Abu Dhabi is a membership based organization. We are one of the most active business councils in Abu Dhabi with a mandate to promote, encourage and facilitate the exchange of business between Canada and the UAE. Our objectives are to create relevant platforms for people to meet and network. For more information about us, kindly go to www.cbcabudhabi.com.


    CBC is looking for a positive, passionate and energetic individual to join their team as Relationship Manager. This role entails to promote CBC Abu Dhabi and engage with current and potential members, sponsors and other stakeholders to ensure they have positive experiences when partnering with the Council.

    The role's work efforts are expected to be at least 70% on membership and sponsorship, with a focus to increase CBC membership and sponsorship. The rest of the time will be spent supporting marketing and communication activities.

    Reporting to : CBC Abu Dhabi Chairman
    Work Location 
    : Abu Dhabi, UAE
    Expected Joining Date
    : As soon as possible, pending finding the right candidate, and no later than 1 August 2018
    Contract period
    : One-year renewable contract (Full time or part time basis)


    Key Responsibilities

    • Assisting and contributing to strategy development and strategic business planning
    • Developing business plans and following through to achieve CBC strategic objectives and performance goals
    • Liaising regularly with CBC Membership Committee on different membership and sponsorship packages that CBC offers
    • Researching and identifying stakeholders’ interests, aspirations, issues and concerns to effectively managing expectations and better negotiations
    • Establishing, managing, developing and engaging with different stakeholders to sustain positive relationships, particularly corporate and individual members and sponsors to meet CBC Abu Dhabi strategic objectives and expected outcome
    • Developing and maintaining different stakeholders’ lists, key points of contacts and engagement log
    • Ensuring retaining and upgrading existing sponsors and members
    • Liaising regularly with Communication and Marketing Committee to develop and implement communication and marketing plan
    • Supporting and providing required information to update communication channels e.g. website and social media to enhance engagement
    • Promoting CBC’s events and ensuring informing key stakeholders on timely manner about CBC’s events and services and the added value that bring to their businesses for attracting and securing sponsors
    • Delivering against agreed objectives and outcomes
    • Pursuing business opportunities created by CBC Board members which contribute to profitable outcome
    • Working closely and in collaboration with CBC staff to reach targets and achieve expected performance outcome
    • Attending events and conferences as required
    • Developing and sharing relevant reports with concerned committees and Board

    Role Requirements

    • A bachelor degree, preferably in Marketing or related area
    • Minimum of four years’ experience in sales or business development, preferably in service industry such as business councils, hotels, conferences, event management, etc
    • Proficiency in Excel, Word, Outlook, Power Point, Photoshop, Illustrator
    • Fluency in English

    Abilities and Skills Required

    • Strong sales and business development skills
    • Strong communication and social skills
    • Strong project management skills
    • Good leadership skills and ability to work with a variety of personalities
    • Adept with time management, organization and multi-tasking skills
    • Ability to handle pressure and meet deadlines
    • Ability to work independently in a fast-paced environment
    • Ability to anticipate and solve problems and handle difficult situations

    Other – Desirable Requirements

    • PMP Certification
    • Fluency in Arabic and/or French
    • Access to vehicle

    Employee Benefits

    • Entitlements pursuant to applicable UAE Labour Law.

    Forward your CV to admin@cbcabudhabi.com

    Only qualified and selected candidates will be contacted for an interview.


  • 22 February 2018 11:14 AM | Anonymous member (Administrator)


    • Reported 2017 IFRS net income attributable to SNC-Lavalin shareholders of $382.0 million, or $2.34 per diluted share, compared to $255.5 million, or $1.70 per diluted share, in 2016.
    • 2017 adjusted net income from E&C(1) of $351.3 million, or $2.15 per diluted share, an increase of 55.2% compared to 2016.
    • Q4 2017 adjusted net income from E&C(1) of $137.8 million, or $0.78 per diluted share, an increase of 87.6% compared to Q4 2016. 
    • Strong operating cash flow of $376.2 million in Q4 2017.
    • Delivered an adjusted E&C EBITDA(7) margin of 8.6% in Q4 2017 and 6.9% for the full year, compared to our Operational Excellence target of 7%.  
    • 2018 Outlook: adjusted diluted EPS from E&C(2) in the range of $2.60 to $2.85 and adjusted consolidated diluted EPS(5) in the range of $3.60 to $3.85, revised in consideration with IFRS 15 revenue recognition criteria.

    To watch Neil Bruce comment on SNC-Lavalin's fourth quarter and year-end 2017 financial results, click here
    To watch Neil Bruce talk about the vision and 2018 priorities for SNC-Lavalin, click here.

    SNC-Lavalin Group Inc. (TSX:SNC) today announces its results for the fourth quarter and year ended December 31, 2017. 

    “We are very pleased with our 2017 performance. Through the acquisition of Atkins, the largest and most transformative in our history, we continued to deliver on our strategic growth objectives while positioning the Company for future opportunities. We divested certain non-core and low growth businesses, further de-risked our business model and applied tighter governance mechanisms to proactively manage our project portfolio,” said Neil Bruce, President and Chief Executive Officer, SNC-Lavalin Group Inc. “The integration of the Atkins business continues to progress well and will be fully completed in 2018. We have a positive outlook on growth and confidence in delivering on our 2020 vision. Our backlog is supported by a healthy pipeline of prospects across our sectors and geographies, as well as revenue synergies from our business development efforts in our enlarged group. Our recent selection as a preferred proponent for the Montreal light rapid transit system underscores the quality of our organic prospects and bolsters our reputation as the leader in infrastructure in Canada.”  

    READ MORE

    Source: http://www.snclavalin.com/en/index.aspx

  • 20 February 2018 11:26 AM | Anonymous member (Administrator)


    Bristol wins Innovative Exporter of the Year Award, in Manufacturing, awarded by Dubai Trade on 19 February 2018.

    "We would to congratulate Bristol for their prestigious achievement in winning the Innovative Exporter Award. This award is a testament to their continuous hard work and perseverance over the years. Congratulations to us all and to many more years of success! "

    Source: Concorde Corodex Group's Facebook page


  • 11 November 2016 7:26 AM | Anonymous member (Administrator)

    Shaybah GOSP4 that is harnessing standardisation. (Image source: Bell Pottinger)

    SNC Lavalin presented a technical session on modular construction for oil and gas projects at ADIPEC 2016 that promoted a 30 per cent reduction in project costs through standardised and modular solutions

    The oil and gas sector is under increasing pressure to reduce costs and enhance efficiency for energy projects. Against such a backdrop, standardised designs and modularised construction techniques are the best way for the industry to achieve this, according to experts at SNC Lavalin, a top-tier engineering, procurement and construction group in the Middle East. 

    “While it is not a new concept in the oil and gas industry, standardisation is fast emerging as the most efficient and economical option in the EPC sector in the Middle East.  Implementing standardised designs and adopting a modular approach to processing units can significantly reduce project budgets, project schedules and construction site work, sometimes by as much as 30 per cent,” said Alan McLean, executive vice president, oil & gas, SNC Lavalin Middle East. “This can really be a game-changer for an industry whose players need to spend less for the same output and to the same high standards. Our standardised solutions allow them to do this.” 

    SNC Lavalin presented at ADIPEC 2016, showing visitors the benefits of standardised and modularised solutions through a series of highly informative interactive displays of its oil and gas projects at its stand on the concourse. The company also showcased its training and simulations capabilities using interactive virtual reality technology. On 8 November, Peter Dennis presented an ePoster session on “Improving Electrical System Efficiency in Oil & Gas Facilities,” and on 9 November, John Jeffers delivered a technical session on “Achieving Predictable Outcomes for Modular Construction in Mega Projects.”. 

    During the first half of 2016, SNC Lavalin won contracts worth more than USD$1.1 bn in the region, mostly in the oil and gas sector. Representative ongoing oil and gas projects include asphalt production facility contract for Saudi Aramco’s Ras Tanura Refinery in Saudi Arabia, engineering consultancy for Oryx GTL in Qatar, oil processing facility, EPC work for Exxonmobil’s West Qurna 1 field in Iraq and a wastewater treatment project for LAFFAN Refinery 2 for QatarGas.  

    In 2014, SNC-Lavalin acquired Kentz, a global engineering and construction solutions provider to form an oil and gas group of 20,000 people world-wide, with approximately 10,000 in the Middle East. Together, the firm is a tier 1 engineering and construction leader, offering client-focused, end-to-end engineering and construction solutions across upstream, midstream and downstream projects to many of the world’s leading energy companies.

    Source: http://www.oilreviewmiddleeast.com

  • 10 November 2016 2:50 PM | Anonymous member (Administrator)


    Abu Dhabi – November 10, 2016 – Al Jaber Trading, a company of Al Jaber Group, in cooperation with Kenworth Truck Company, participated in ADIPEC 2016 that takes place between 7 & 10 November 2016 in Abu Dhabi, Stand No: J5210.

    Al Jaber Trading and Kenworth displayed the Model Super 963S “King of the Desert” Heavy Duty Truck.

    Mr. Michal Sidani, Managing Director of Al Jaber Trading said: “We are excited to be a part of the ADIPEC 2016. It provides an outstanding venue to meet with our customers, while also displaying the industry-leading Trucks that are focused on supporting the needs of the Oil and Gas businesses”

    Ms. Sharon Sidoine, Director of Sales Operations at PACCAR Global Sales said: “Kenworth was the first manufacturer to design off-highway trucks to carry oil rigs in the desert over fifty years ago.  We are pleased to display the latest model Super 963S, which is unsurpassed in its ability to carry oil rigs in the deep desert.  ”

    Some fun facts about the Super 963S:

    • Truck use: desert oil field transport and heavy oil rig moves
    • Gross combination weight rating 227 metric tons
    • Engine: Cummins ISX 600 HP
    • Transmission: Allison M6620A automatic
    • Axles: AxleTech, wide-track
    • Front Suspension: Heavy Duty slipper spring
    • Rear Suspension: Walking beam
    • Tires: Firestone 29.5R25
    • Frame: Double stacked high tensile heat-treated rails
    • Radiator surface area: 4521 square centimeters

    Source: www.aljaber.com

  • 08 November 2016 2:43 PM | Anonymous member (Administrator)

    Picture Caption: H. E. Sultan Almansoori, Minister of Economy and Chairman of the SME Council, speaks with Dr. Ziad Awad, Canadian firm SNC-Lavalin’s Senior Vice President (SVP) and Head of Region, Middle East, India and Africa.

    ----

    Canadian Government Officials, CBC Board of Directors, and CBC Sponsors and Members Attend the UAE Ministry of Economy’s 7th Conference on SME and Innovation. The event highlighted the importance of the Small and Medium Enterprises (SMEs) and their contributions to the Economy.

    In his speech, H. E. Sultan Almansoori, Minister of Economy and Chairman of the SME Council highlighted the collaboration that was held between the UAE and Canada. He also indicated that the event was held in Canada few years ago as part of this collaboration.

    The closed event was heavily attended by Canadian delegates including:

    • H. E. Masud Husain, Ambassador of Canada to the UAE
    • H. E. Emmanuel Kamarianakis, Consul General of Canada to Dubai and Northern Emirates
    • Mr. Glen McPherson, Consul and Senior Trade Commissioner at the Canadian Consulate in Dubai
    • Mr. Ronan Caillo, Commercial Counsellor at the Embassy of Canada to the UAE
    • Dr. Ziad Awad, Senior Vice President (SVP) and Head of Region, Middle East, India and Africa for Canadian firm SNC-Lavalin
    • Mr. Maher Ezzedine, Vice-Chairman at the Canadian Business Council (CBC) Abu Dhabi
    • Mr. Gregory Zoughbi, Board Member and Head of Membership and Sponsorship at the Canadian Business Council (CBC) Abu Dhabi


Let's Connect!

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