Public warned of rising fraud - Oman Daily Observer

18
OMAN
Jack Canfield’s management
seminar a huge success
WEDNESDAY, APRIL 10, 2013
By A Business Reporter
MUSCAT — It was an inspirational and
educative management seminar by internationally-acclaimed
success coach Jack
Canield at Shangri-La’s Barr Al Jissah Resort
and Spa, organised by NPA Events recently.
The event was attended by 150 delegates
from a wide spectrum of industries
,who were presented with a workbook as
part of their kit and a certiicate at the end
of the seminar which was organised as a
part of Jack Canield’s Middle East tour.
In his introductory speech, Ajay Chopra,
Managing Director, OTE Group of Companies,
said that Cadillac, the American premium
luxury car brand was proud to be
associated with Jack Canield, America’s
No 1 success coach.
Delegates who attended the seminar
were fortunate to have a irst-hand interaction
with the originator of the Chicken
Soup for the Soul series, Jack Canield,
whose books have sold over 125 million
books in 47 languages worldwide,
prompting Time magazine to call him the
“publishing phenomenon of the decade”.
His proven formula for success reached
global acclaim with his most recent bestseller
The Success Principles: How to get
from where you are to where you want to
be.
By A Staff Reporter
His other best-selling books, namely,
The Power of Focus, The Aladdin Factor,
Dare to Win, You’ve Got to Read This Book!
and The Key to Living The Law of Attraction
have also been well received worldwide.
Speaking at the seminar, Jack Canield,
who was all praise for the excellent organisational
aspect by NPA Events said, “This
programme in Muscat will enable you to
build resilience and develop the core competencies
required to thrive and achieve
peak performance even in the most challenging
and turbulent times. You will learn
effective applications of the Law of Attraction,
The Success Principles plus much
more to ensure sustainable growth and
success for you and your organisation.”
Ashok Suvarna, Executive Director, NPA
Events said, “Over the last 30 years, Jack
Canield’s compelling message, empowering
energy and personable coaching
style has helped thousands of individuals,
achieve their dreams. Now the future
leaders of Oman will beneit greatly from
his Success Principles. It will show them
the path to success and get from where
they are to where they want to be.”
At the end of the show, Said Mohammed
Rahid al Juma, Managing Director
and Ashok Suvarna, Executive Director of
NPA Events presented Jack Canield with a
memento.
Rating agency Moody’s afirms
BankDhofar’s inancial strength
MUSCAT — Credit rating agency, Moody's Credit has assigned
A3/P-2 foreign currency deposit ratings and a
D+ Bank Financial Strength Rating (BFSR) with a stable
outlook to BankDhofar. The rating captures the bank's
strong franchise in Oman, as well as its adequate inancial
performance.
BankDhofar's long-term global local currency (GLC)
deposit rating is set at A3 and relects Moody's assessment
of a very high probability of systemic support in
the event of need, which provides an uplift to the bank's
deposits rating from its Ba1 standalone credit strength
(mapped from the D+BFSR).
Tony Mahoney (pictured), BankDhofar’s CEO, said, “This is signiicant achievement
for us since we have continued to develop the bank strongly in 2012 with so many exciting
projects, which should deliver further good growth in 2013”.
BankDhofar's franchise value assessment takes into account its good banking franchise
in Oman. With total consolidated assets of RO 2.4 billion as of 2012, BankDhofar
is one of the largest inancial institutions in Oman, with a good market share in banking
system assets.
BankDhofar has built a good banking franchise in Oman aided by a series of successfully
executed acquisitions and a good record of clean-up operations and integration of
the acquired banks, resulting in increased proitability and a good revenue-generating
capability. BankDhofar's franchise dynamics in Oman is likely to be enhanced by management's
intention to widen its product base, improve the service levels.
MENA IPOs raise $1.6 billion
in the irst quarter
By A Business Reporter
MUSCAT — Regional capital markets recorded a 20-fold increase
in capital raised and a 25 per cent decrease in deal
volume in Q1’13 (3 IPOs, raising approximately $1.6 bn in
proceeds), compared to Q1’12 (4 IPOs, raising $82.8m in
proceeds), according to Ernst & Young’s 2013 Q1 MENA
IPO update. The three regional IPOs in Q1’13 represented a
374.3 per cent increase from the $339.8m raised in the previous
quarter, Q4’12. Phil Gandier, (pictured) MENA Head of
Transaction Advisory Services, Ernst & Young, says: “Q1’13
posted the strongest results for the irst quarter of the year
since 2008. However, the majority of the value is attributed to a large ticket telecommunications
IPO in Iraq. This sector is traditionally associated with large value transactions
and the high Q1 performance will be sustainable if we start to see similar large
value transactions on a regular basis which would bolster the regions capital markets.”
Two IPOs came to market in Saudi Arabia while one was reported in Iraq. The largest
issuance was in Iraq, with Asiacell Communications raising $1.3bn, followed by Northern
Region Cement Company in Saudi Arabia that raised $240m and National Medical
Care Company in Saudi Arabia that raised $97.2m.
“Over 40 per cent of investors in the Middle East and Africa stated a preference to
invest overseas, as evidenced in Ernst & Young’s recent institutional investor study.
Therefore, the challenge remains whereby more domestic deal activity would be a key
driver for stronger IPO activity and growth in the MENA region,” concluded Phil.