Investments in tourism infrastructure to reach US$56 billion by 2022 driven by innovative Hyperloop connections

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Investments in tourism infrastructure to reach US$56 billion by 2022 driven by innovative Hyperloop connections
  • Innovative Hyperloop connections to transform tourism infrastructure development in GCC
  • Future travel experiences to kick start proceedings on ATM’s Global Stage with Sir Tim Clark, Emirates Airline; Issam Kazim, Dubai Tourism and Harj Dhaliwal, Hyperloop One
GCC capital investments in tourism infrastructure are expected to reach US$56 billion by 2022, with the UAE ranked the most competitive in the region, driven by the development of multiple revolutionary transport projects, according to the latest research published ahead of Arabian Travel Market (ATM) 2018. According to Arabian Travel Market’s research partner, Colliers International, lightening-speed, innovative Hyperloop train systems combined with the Haramain High Speed Railway, the development of key international airports in Saudi Arabia and airport expansion in the UAE, Bahrain, Oman and Kuwait are just some of the projects set to transform tourism infrastructure development in the GCC. Tourism infrastructure will feature heavily in the programme at ATM 2018, which takes place at Dubai World Trade Centre from April 22-25, with Hyperloop and future travel experiences kicking off proceedings on ATM’s Global Stage on Sunday 22nd April between 13.30 and 14.30. Moderating the session, Richard Dean, a UAE-based business broadcaster and presenter will be joined by a host of high-profile panellists including Sir Tim Clark, President, Emirates Airline, Issam Kazim, CEO, Dubai Corporation for Tourism and Commerce Marketing (DCTCM), and Harj Dhaliwal, Managing Director Middle East and India Operations, Hyperloop One. Simon Press, Senior Exhibition Director, ATM said: “As we move towards an innovative and technologically-driven future, it is important to explore the impact ultra-modern travel infrastructure will have on the tourism industry in the UAE and wider GCC region. ATM’s opening session ‘Future Travel Experiences’ will explore this evolution as technological advances bring new and improved modes of transport to the market.” Virgin Hyperloop One, a futuristic transportation concept through which pods, propelled by magnets and solar, will move passengers and cargo at speeds of 1,200kph, is the most prominent tourism infrastructure development in the UAE at present. Backed by Dubai-based DP World, Hyperloop One has the potential to transport approximately 3,400 people an hour, 128,000 people a day and 24 million people a year. In November 2016, Dubai’s Road and Transport Authority (RTA) announced plans to evaluate a hyperloop connection between Dubai and Abu Dhabi, which could reduce travel times between the two emirates by 78 minutes. Press said: “Providing a hyperloop connection that allows both UAE residents and tourists to travel between Dubai and Abu Dhabi in just 12 minutes is just the beginning. In the future, other emirates and indeed other GCC countries could also be linked, with journeys between Dubai and Fujairah as low as 10 minutes and Dubai to Riyadh in 40 minutes.” Hyperloop One isn’t the only concept to boost tourism infrastructure in the region. Airport and cruise terminal expansions, improved domestic inter-city road and rail work and the growth of low-cost airlines will keep the GCC at the forefront of tourism infrastructure and innovation. Air passenger arrivals to the GCC are forecast to increase at a compound annual growth rate (CAGR) of 6.3%, from 41 million in 2017 to 55 million in 2022. The development of new airports across the GCC region, combined with the introduction of various low-cost carriers such as flydubai and recently launched Saudi low-cost airline Flyadeal, are expected to contribute heavily to this growth. In Dubai, cruise tourism is expected to grow over the next two years as the emirate targets the arrival of 20 million tourists a year, ahead of Expo 2020. During the 2016/2017 season, Dubai welcomed 650,000 cruise tourists with this figure forecast to increase to one million by 2020. Expansion works at DP World’s Hamdan bin Mohammed Cruise Terminal at Mina Rashid are expected to contribute to this growth. Set to be the largest terminal in the world, the facility is capable of handling 18,000 travellers every single day. Looking ahead to ATM 2018, responsible tourism – including sustainable travel trends – will be adopted as the main theme. Celebrating its 25th year ATM will build on the success of last year’s edition, with a host of seminar sessions looking back over the last 25 years and how the hospitality industry in the MENA region is expected to shape up over the next 25. About Arabian Travel Market (ATM) is the leading, international travel and tourism event in the Middle East for inbound and outbound tourism professionals. ATM 2017 attracted almost 40,000 industry professionals, agreeing deals worth US$2.5bn over the four days. The 24th edition of ATM showcased over 2,500 exhibiting companies across 12 halls at Dubai World Trade Centre, making it the largest ATM in its 24-year history.  Arabian Travel Market now in its 25th year will take place in Dubai from Sunday, 22nd to Wednesday, 25th April 2018. To find out more, please visit: www.arabiantravelmarketwtm.com. About Reed Exhibitions Reed Exhibitions is the world’s leading events business, enhancing the power of face to face through data and digital tools at over 500 events a year, in more than 30 countries, attracting more than seven million participants. About Reed Travel Exhibitions Reed Travel Exhibitions is the world’s leading travel and tourism event’s organiser with a growing portfolio of more than 22 international travel and tourism trade events in Europe, the Americas, Asia, the Middle East and Africa. Our events are market leaders in their sectors, whether it is global and regional leisure travel trade events, or specialist events for meetings, incentives, conference, events (MICE) industry, business travel, luxury travel, travel technology as well as golf, spa and ski travel. We have over 35 years’ experience in organising world-leading travel exhibitions. Media contact NATHALIE VISELE Director Tel: +971 4 365 2711 | Mobile: +971 50 457 6525 E-mail: nathalie.visele@shamalcomms.com Office 106, Arjaan Office Tower, Dubai Media City PO Box 502701 | Dubai, United Arab Emirates Website: www.shamalcomms.com

Guerlain celebrates 190 years of creation

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Guerlain celebrates 190 years of creation
Maison Guerlain, founded in 1828 by perfumer-chemist Pierre-François Pascal Guerlain, is celebrating its 190th anniversary this year. For nearly two centuries, the Maison has explored the facets of beauty in fragrances, makeup and skincare. To celebrate its 190 years Guerlain is premiering extraordinary sagas that retrace its history to the origins of modern perfumery. Guerlain is intimately linked to the city of Paris, to women, and to the revolution in cosmetics and perfumes.  Maison Guerlain began in 1828 thanks to the visionary creativity of Pierre-François Pascal Guerlain. Inspired by a desire to spark emotion, to surprise and amaze, Guerlain continued its story with Aimé Guerlain, who revolutionized the world of fragrances by combining natural and synthetic ingredients for the first time to create Jicky. Three generations of perfumers followed: Jacques Guerlain, Jean-Paul Guerlain and today Thierry Wasser.
To celebrate this anniversary, Guerlain is unveiling a series of sagas, a special chance to discover or rediscover this mythic Maison throughout the year. Three sagas have already been released. This first is dedicated to Guerlain Perfumers, the second to the raw materials used in the composition of Guerlain fragrances, and a third reveals the secrets of lipstick, retracing the creation of Guerlain’s first modern lipstick.
Begun by Pierre-François-Pascal Guerlain, the formulation notebooks are passed on from each generation of perfumer to the next and still used today by Thierry Wasser to compose Guerlain fragrances. The notebooks are kept carefully lunder lock and key in Orphin, where Guerlain’s fragrance production site is located. / © Guerlain
With 1,100 fragrance creations and ongoing innovations in cosmetics, Guerlain celebrated the beauty of women by creating the bullet lipstick Ne m’oubliez pas in 1870, anticipated the fashion for Orientalism with Mitsouko in 1919, and proposed an elegant take on the bronzing trend with Terracottapowder in 1984.
Upcoming chapters of the Guerlain sagas will be released throughout 2018 to present the unique heritage of the Maison and celebrate Guerlain’s roots and wings.

Berluti names Kris Van Assche as Artistic Director of the house

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Berluti names Kris Van Assche as Artistic Director of the house
Kris Van Assche will be in charge of shoes, leathergoods, ready-to-wear and accessories collections. Antoine Arnault, CEO of the house declares “I am delighted to welcome Kris Van Assche to Berluti. I have known him for several years, have always admired his work at Dior Homme and I am looking forward to working with him.” Kris Van Assche says “I have always wanted to build bridges between the savoir-faire, the heritage of a house and my clear-cut contemporary vision. Antoine Arnault spoke to me of his ambitions for Berluti and it is with great pleasure that I accept this new challenge which fits perfectly with my own will and vision. I would also like to thank Mr Bernard Arnault for his renewed confidence. ” Kris Van Assche will present his first collection during Paris Men’s Fashion Week in January 2019.

Volkswagen Group delivers over 1 million vehicles in March

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Volkswagen Group delivers over 1 million vehicles in March
  • Record result: 1.04 million vehicles in March (+5.3 percent)
  • Over 2.6 million units delivered in first quarter of 2018 (+7.4 percent)
  • Fred Kappler, Head of Group Sales: “The delivery figures for March round off a successful first quarter. We saw strong growth in our core regions in the first three months.”
The Volkswagen Group recorded its best ever delivery result for a single month in March. The Group also finished the first quarter with an all-time record. At 1.04 million, deliveries by the Volkswagen Group in March were 5.3 percent higher than the prior-year month. Over 2.6 million vehicles were handed over to customers in the first quarter of the year (+7.4 percent). “The first-quarter results confirm the attractiveness of our products. However, this good performance does not mean we can let up in our efforts; instead we must continue to strengthen customers’ trust in our brands and products in the second quarter as well”, Fred Kappler, Head of Group Sales at Volkswagen Aktiengesellschaft, said. The Group delivered over 1.1 million vehicles in Europe in the first quarter of 2018 (+4.1 percent). Group deliveries in March grew 1.2 percent to 479,900 new vehicles. 407,400 vehicles were handed over to customers in Western Europe in March, of which 130,100 units were delivered in the home market of Germany (-1.2 percent). 72,500, deliveries of new vehicles from the Group in the markets of Central and Eastern Europe were 13.2 percent up on the same month last year. From January to March the Group delivered 954,400 vehicles in Western Europe (+2.8 percent) and 188,900 units in Central and Eastern Europe (+11.4 percent). The Group handed over 221,000 vehicles in the North America region in the first three months, an increase of 3.4 percent. Just short of 83,900 customers in North America chose a vehicle from the Group in March (+5.1 percent). The Group delivered 57,800 vehicles in the USA, the largest market in the region, in March, representing an increase of 13.0 percent. The delivery trend in the South America region was also positive: customers took delivery of 128,700 new vehicles (+5.6 percent) in the first quarter of the year, of which 50,700 were delivered in March (+8.3 percent). Deliveries in the Brazilian market increased to 32,500 units in March, 11.0 percent higher than the same month last year.
The Volkswagen Group continued on its growth path in the Asia-Pacific region in the first quarter, delivering 1,090,200 new vehicles to customers there in the first quarter of 2018 – an increase of 12.0 percent – of which 391,400 units (+9.6 percent) were handed over in March. Deliveries in the Chinese market grew 10.6 percent in March, with 358,800 vehicles from the Group handed over to customers in China.
 

KPF and Heatherwick Studio selected for design of Singapore Changi Airport Terminal 5

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KPF and Heatherwick Studio selected for design of Singapore Changi Airport Terminal 5
Kohn Pedersen Fox (KPF) and Heatherwick Studio are pleased to announce their selection by Changi Airport Group, the manager and operator of Singapore Changi Airport, as the design leaders of the airport’s new Terminal 5. The collaboration brings together two award-winning and internationally recognised practices with extensive experience designing innovative urban spaces and specialised infrastructure projects. Changi Airport Terminal 5 will add an initial capacity of up to 50 million passengers per year to what is already one of the busiest and most celebrated international airports in the world. The magnitude of the project not only requires a design vision on a city-like scale, but also offers the opportunity to transform conventional thinking in airport design. The combination of KPF’s experience in both large-scale infrastructure and urban neighbourhoods, paired with the innovative design expertise of Heatherwick Studio, will create an airport that will go beyond mere transportation requirements and become a city within itself – an integral piece of Singapore. Thomas Heatherwick, Founder of Heatherwick Studio, said: “It’s thrilling to be chosen to lead the design of the next phase of the world’s most successful airport, collaborating with KPF to nearly double the size of Changi. This is an extraordinary opportunity to break away from the sterility and soullessness we’ve come to expect from typical airport environments. We’re excited to treat this next phase of Changi as a new piece of city and bring together the rigour of airport planning with an uncompromising interest in the quality of human experience for passengers.” Stuart Wood, Group Leader at Heatherwick Studio, said: “Winning the global competition with KPF to design Changi Airport Terminal 5 sets us the most challenging opportunity Heatherwick Studio has ever undertaken. The scale and ambition of this project is unprecedented. We are delighted to have the opportunity to make a memorable new terminal for Changi that inspires at every scale from mega infrastructure, aviation, transit, retail, leisure, and culture through to the tiniest detail. Our hope is to make Terminal 5 the most homely and at the same time spectacular airport in the world for many years to come.”

ONE&ONLY BRAND EVOLUTION CONTINUES WITH ONE&ONLY URBAN RESORTS

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ONE&ONLY BRAND EVOLUTION CONTINUES WITH ONE&ONLY URBAN RESORTS
Kerzner International Holdings Limited (“Kerzner”), the owner of the iconic Atlantis Resort & Residences and ultra-luxury One&Only Resorts brands worldwide, achieves a new milestone in its continued evolution of the One&Only portfolio, as it introduces One&Only Urban Resorts. To provide the experiences One&Only guests have craved, One&Only Urban Resorts will be introduced in Dubai’s latest architectural icon, One Za’abeel, a completely original destination with revolutionary design; the perfect site for the introduction and launch of One&Only Urban Resorts, One&Only One Za’abeel. “There is a duality to One Za’abeel, reflected in its two towers, that evokes pairings. Timeless elegance with function, efficiency with leisure, tradition with modernity, inclusion and privacy,” says His Excellency Mohammed I. Al Shaibani, Chairman of Kerzner International, Executive Director and CEO of Investment Corporation of Dubai. “The paired concepts come together where The Linx traverses the towers offering all those who get in touch with One Za’abeel one complete, bespoke, and very individual experience every time. That is why, it is very fitting,” he added, “that the first urban resort for One&Only opens in this development of the future.” The iconic One Za’abeel is due to open in 2020, and is being developed by Ithra Dubai, a fully owned subsidiary of Investment Corporation of Dubai. A symbol of ambition, innovation and the pioneering spirit of Dubai, One Za’abeel stands tall and proud in the Za’abeel district in the heart of the city, strategically positioned at the crossroads of the old and new business districts of Dubai. The two-tower, high-rise mixed-use development incorporates One&Only One Za’abeel, luxury residences, serviced apartments, and office spaces, in addition to The Gallery, an opulent retail podium, and a panoramic sky concourse, The Linx, which connects the two towers of One Za’abeel. “One Za’abeel will continue to develop Dubai in the global arena. Much more than a building, we are shaping communities to thrive and prosper. We are ultimately transforming the legacies of our past into landmarks of the future,” said Issam Galadari, CEO and Director of Ithra Dubai. “As the global benchmark of ultra-luxury, it makes sense for One&Only to operate the resort experience at One Za’abeel.” “Our ambition is to become part of the soul of any city we enter,” says Michael P. Wale, Chief Executive Officer, Kerzner International. “We are thrilled to be introducing One&Only to the urban space, providing something completely different for our discerning guests, delivered with our renowned personalized experience. Iconic buildings such as One Za’abeel are the perfect locations for One&Only Urban Resorts. We are proud One&Only One Za’abeel is part of the foundation of the next generation of the destination.” True to its brand promise, the architectural design of each urban resort will celebrate the city —from storied landmarks to the introduction of cutting-edge new architecture; a natural hub for the influential and curious to gravitate for both business and pleasure. Offering unprecedented access to the city, One&Only will offer a perfect base for bespoke, exclusive exploration and sophisticated experiences. Home to a pulsating life and energy, entertainment is at the heart of every One&Only Urban Resort. One may never want to leave. One&Only Urban Resorts will retain the glamour and style of its acclaimed Beach Resorts offering stunning, intuitive design, incredible culinary experiences, a strong health and fitness ethos and the renowned service that the brand is known for. However, it will go beyond, offering something that has never been seen before within cities; an elevated experience for business, family and leisure travellers, as well as local residents, including the unexpected. Known for its continued innovation, One&Only will challenge the conventional city hotel. In a buzzing and busy city, a place to escape the bright lights is always needed, a place to unwind; all urban resorts will offer beautifully designed green spaces to provide a serene sanctuary year-round. Every One&Only Gym will have a spectacular view of the city, and One Cycle and One Yoga will ensure guests get the rejuvenation and workout they desire. One&Only Urban Resorts will be home to sophisticated One&Only spas that are open around the clock to serve guests as and when they need, be it an early morning blow dry or a relaxing evening massage after a long day of meetings. Suites can be specially customised to suit the guests’ every need, being transformed into everything from a children’s playroom, walk-in closets to an art studio. And specially designed suites for children will also be an option as families will also be taken care of at all One&Only Urban Resorts. All accommodation at One&Only One Za’abeel will be an escape to a private sanctuary offering a choice of ultra-luxury rooms and suites, or for those looking to stay a bit longer, exclusive serviced apartments; intuitive in design, whether it be for business or pleasure. Denniston International will be designing the interiors of One&Only One Za’abeel, ensuring the celebration of the One&Only lifestyle. For the loyalist who returns to the city time and time again, there will be the option to keep belongings in the resort until their next stay. Always known for its culinary experiences, One&Only Urban Resorts will each be renowned for its own signature restaurant, becoming a destination in its own right – a neighbourhood favourite yet a glamorous, relaxing space with stunning designs, world-class chefs offering incredible sensory experiences. “For One&Only, it is the perfect opportunity to deliver on the many requests from our loyal guests—to be in key cities throughout the globe, evident from the significant awards the brand has received,” commented Philippe Zuber, President and Chief Operating Officer, One&Only Resorts. “Our Urban Resorts will be a translation of the life and energy and entertainment of our world-renowned Beach Resorts, offering curated experiences for each guest, from business and leisure travellers, families, as well as the community, an utterly unrivalled urban oasis. Central to all of Dubai – a true crossroads of the city, One&Only One Za’abeel will become a place where people want to be–and come back for more, continued discovery. One Za’abeel will be the ultimate destination in Dubai– the perfect landmark in which to introduce One&Only Urban Resorts, continuing to build on our success in the destination.” Introducing the new heart beat of Dubai, restaurants will be buzzing—from power breakfasts to late dinners under the twinkling city lights, to Club One, soaring over 50 storeys in the air. Not to be missed by any resident or guest is The Linx at One Za’abeel, a panoramic sky concourse that connects the two towers of One Za’abeel. The world’s largest cantilever, floating an awe-inspiring 100 metres above the ground, will offer an exploration of world-class restaurants, retail and entertainment. A statement swimming pool will be on the top of The Linx offering incredible 360 views of Dubai whilst a spa that never sleeps will provide an escape for rejoice or respite. Innovative technology is simple whilst fitness is challenging—the latest offerings in both. Business can be done in modern and inspired settings, from private offices to executive board rooms and event spaces, all with One&Only’s genuine, authentic service. MEDIA INQUIRIES: +971 4 4202702 info@sabaconsultants.com For Kerzner International/One&Only: Ashley McBain +971 4 524 4050 Ashley.McBain@kerzner.com

Construction starts at the world’s largest hydrogen pilot plant

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Construction starts at the world’s largest hydrogen pilot plant
  • World’s largest pilot plant for the production of “green” hydrogen at the voestalpine site in Linz, Austria
  • Capacity of 6 megawatts: the most effective and advanced plant of its type
  • plant is scheduled to be fully operational by spring 2019
An EU-funded flagship project for a CO2-reduced energy future and the decarbonization of steel production is taking shape: today, at the voestalpine site in Linz, the H2FUTURE project consortium, consisting of voestalpine, Siemens, VERBUND, and Austrian Power Grid, together with the research partners K1-MET and ECN, officially gave the go-ahead for construction of the world’s largest pilot plant for the production of “green” hydrogen. With a capacity of 6 megawatts, this is the most effective and advanced plant of its type. The partners from industry and power generation will use this facility to research into future breakthrough technologies which are needed to meet global climate goals over the long-term. The plant is scheduled to be fully operational by spring 2019.
Reducing CO2 emissions by around 80 percent to 2050 is the central climate goal, and requires both energy suppliers and industry to prepare themselves and explore new pathways together. This is the role of the H2FUTURE research project. More than 600 billion cubic meters of hydrogen are used annually worldwide, more than 95 percent of which is produced via a CO2-intensive process. What will be the world’s largest and most advanced plant of its type for generating “green”, i.e. CO2-free hydrogen, will be built at the voestalpine premises in Linz. In future the EU-funded EUR 18 million project will be used to test the potential applications for green hydrogen in the various process stages of steel production, and integration into the power reserve markets for the power grid. For the industry, transport, and energy sectors, CO2-free hydrogen is an important source of energy for sector coupling and can significantly contribute to achieving the climate goals. The new plant is designed to be a technological milestone on the pathway to the energy transition, and thus to the gradual decarbonization of the steel industry. After the launch of the project at the beginning of 2017, construction of the pilot facility at the voestalpine site in Linz has now accelerated. The foundations are in place and construction of the hall is currently underway. The core electrolysis components will be delivered during the summer, with the plant going live within a year. The start of the comprehensive two-year test program is planned for spring 2019. “Construction of the new pilot plant for the production of CO2-free hydrogen is taking us a step further towards the long-term realization of a technology transformation in the steel industry. The goal is to research real breakthrough technologies which will be applicable on an industrial scale in the next couple of decades,” says Wolfgang Eder, Chairman of the Management Board of voestalpine AG. The vision of the technology and capital goods group is to move away from coal and coke via bridging technologies based on natural gas, as is already the case at the direct reduction plant in Texas, and finally on to the greatest possible use of green hydrogen. “The prerequisite is the provision of sufficient energy from renewable sources and at competitive prices,” adds Herbert Eibensteiner, Member of the Management Board of voestalpine AG and responsible for the Steel Division. “At the core of the plant beats a high-tech heart from Siemens. Using green electrons we split water into its constituent parts, hydrogen and oxygen,” explains Wolfgang Hesoun, Chairman of the Managing Board of Siemens AG Österreich (Siemens Austria). Siemens has developed what is currently the world’s largest PEM (proton exchange membrane) electrolyser module for the research facility in Linz. With a capacity of 6 megawatts, the plant will be able to produce 1,200 cubic meters of “green” hydrogen an hour. The goal is to achieve a record output efficiency of 80 percent in converting electricity into hydrogen. The hydrogen can be stored for use in a multitude of applications: as a raw material in the industry, as seen in Linz, but also as a fuel for mobility and as an energy carrier in electricity and gas supply. “Siemens’ DNA is clean energy: from generation and distribution to application. Efficient technologies are a key element in curbing climate change with its dramatic consequences,” Hesoun explains. Global demand for hydrogen will increase tenfold by 2050, to around 6 trillion cubic meters. Plants such as the one in Linz are the prerequisite for meeting this growing demand in an almost CO2-neutral manner. “It’s also possible for energy-intensive industries to be climate neutral. This outstanding project takes us one step closer to the goal of global decarbonization,” says Roland Busch, Chief Technology Officer and member of the Managing Board of Siemens AG. “This technology supports our customers as they drive transformation within the energy sector and enhance climate protection. Siemens has set ambitious decarbonization goals for itself: by 2020, we’ll have cut our carbon footprint in half, and we’ll be climate neutral by 2030,” says Busch. Only when water is electrolyzed using electricity from renewable sources can “green” hydrogen be produced. With its 128 hydropower plants, VERBUND, Austria’s largest electricity company and a leading European hydropower electricity producer, generates almost 100 percent of its electricity from renewable sources. “To integrate the volatile renewable energy from wind and solar power into the energy system, we will need even more storage capabilities in future. In addition to our pumped-storage plants in the Alps, and battery storage solutions of various dimensions, we see huge potential in energy storage with green hydrogen,” says Wolfgang Anzengruber, CEO of VERBUND. “For us, “green” hydrogen is the perfect example of the sector coupling which is urgently required for decarbonizing power generation, industry, and transport.” VERBUND will supply electricity generated from renewables for the H2FUTURE project, and is also responsible for the development of grid-relevant services. Using demand side management, the PEM electrolyser functions as a dynamic, normal load component, helping to compensate for fluctuations in an increasingly volatile power supply. The project volume for the new plant amounts to around EUR 18 million for six consortium partners over a project period of 4.5 years. Around EUR 12 million of this is funding from the European Commission, specifically from the Fuel Cells and Hydrogen Joint Undertaking (FCH JU). “The H2FUTURE project is one of the FCH JU flagship projects financed from the EU Horizon2020 program. It demonstrates that greening large industry, such as steelmaking, is feasible and is a viable option in the near future. Moreover, this project successfully shows sector coupling. Both these aspects are vital in proving that hydrogen is an important piece of the puzzle in achieving European climate goals,” explains Bart Biebuyck, Executive director, Fuel Cells and Hydrogen Joint Undertaking (FCH JU).
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for 170 years. The company is active around the globe, focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. With its publicly listed subsidiary Siemens Healthineers AG, the company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2017, which ended on September 30, 2017, Siemens generated revenue of €83.0 billion and net income of €6.2 billion. At the end of September 2017, the company had around 377,000 employees worldwide. Further information is available on the Internet at www.siemens.com. In its business segments, voestalpine is a globally leading technology and capital goods group with a unique combination of materials and processing expertise. This global Group comprises about 500 Group companies and locations in more than 50 countries on all five continents. It has been listed on the Vienna Stock Exchange since 1995. With its top-quality products and system solutions using steel and other metals, the voestalpine Group is one of the leading partners of the automotive and consumer goods industries in Europe as well as the aerospace and oil & natural gas industries worldwide. voestalpine is also the world market leader in turnout technology, special rails, tool steel, and special sections. In the business year 2016/17, the Group generated revenue of EUR 11.3 billion, with an operating result (EBITDA) of EUR 1.54 billion; it had about 50,000 employees worldwide. More information: www.voestalpine.com VERBUND is Austria’s leading electricity company and one of Europe’s largest hydropower electricity producers. About 96 percent of the company’s electricity is generated from hydropower. VERBUND trades in electricity in 12 countries, and in 2017 with around 2,800 employees, it achieved an annual turnover of about 2.9 billion euros. Along with its subsidiaries and affiliates, VERBUND is active from electricity generation to transport and on to international trading and marketing. VERBUND has been listed on the Vienna Stock Exchange since 1988, and 51% of the share capital is held by the Republic of Austria. More information: www.verbund.com

APICORP forecasts almost US$1 trillion for energy investment in MENA region over next 5 years

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APICORP forecasts almost US$1 trillion for energy investment in MENA region over next 5 years
  • Total investment (committed and planned) of US$919 billion over 5 years
  • Power sector accounts for the bulk of planned investments as region continues to prioritise critical projects, particularly renewable energy
  • The need to maintain energy investment and an improving macroeconomic outlook will support greater private sector participation
  • Renewable-energy projects will be key to meet rising power demand from Morocco and Jordan
Dammam – Saudi Arabia, 20th March 2018: — The Arab Petroleum Investments Corporation (APICORP), the multilateral development bank focused on the energy sector, today published its annual MENA Energy Investment outlook. The report forecasts that the MENA region will see a number of critical energy projects pushed through over the next five years, despite the uncertain geopolitical backdrop. Around $345bn has been committed to projects under execution while an additional $574bn worth of development is planned. The overall economic outlook remains similar to the forecasts estimated this time last year, with growth of around 3.2% forecast for both 2018 and 2019. Global investment in the industry is expected to pick up and parts of the MENA region are expected to see a corresponding improvement in investment. Saudi Arabia is expected to lead the way, but the uncertainty over the possible re-imposition of sanctions on Iran mean that it may struggle to attract the foreign investment it needs to develop its industry. Iraq is also facing challenges, despite the improving security situation. Saudi Arabia and the UAE represent 38% of planned investments, with $149bn and $72bn respectively, over the outlook period, as both countries look to boost their upstream oil and gas sectors. For Egypt, the main focus isramping-up of gas production and meeting rising power demand. Planned investments in the country are $72bn, with the power sector making up over 50% of the total. Elsewhere planned projects in Kuwait stand at $59bn over the same period, with over 50% in the oil sector. More specifically, the country intends to increase oil output to 4m b/d within the next few years. Similarly, in Algeria planned projects stand at around $58bn with the Hassi Messaoud Peripheral Field Development accounting for a significant portion of investments in upstream oil. The country will seek to invest in upstream oil and gas to meet its target of increasing production by 20%. However, low fiscal buffers and competing pressures on revenue may impact Algeria’s efforts to execute its ambitious capacity expansion plans. Other major investment in the oil and gas sector will be made in Iran, with an estimated $67bn in planned projects in the coming period, and Iraq, at $47bn. Oil investments account for $27bn with the ENI-led Zubair and the PetroChina-led Halfaya, two of the largest upstream development projects in the country. However, the outlook for those countries is much less certain, with a significantly higher degree of political risk. There are three main challenges that could potentially hinder the growth of investment in the region. The first is that the global investment in the oil and gas sector are closely interlinked with oil prices, and though the situation as a whole is improving, prices are not expected to return to the high levels seen prior to the sharp drop in 2014. Another challenge to growth is the rising cost of capital, as some governments will find it harder to attract foreign investment. However, supported by its high reserves, and low debt to GDP ratios, the GCC was successful in issuing record debt of over $50bn in 2017, surpassing the previous year’s record of $37bn. Saudi Arabia represents the bulk of this, with over $21bn of debt raised, followed by Abu Dhabi and Kuwait with $10bn and $8bn respectively. Oman ($8bn) and Bahrain ($3bn) also tapped the international market. Finally, the regional geopolitical environment remains fragile, and persistent conflicts in the region are creating instability that deters investors and causes them to become cautious in investing in the entire region. 2017 certainly saw improvements and rebalance in the region. The period of weakest economic growth and oil prices seems to have passed, but the recovery phase will take longer and is not without its challenges. GCC governments have announced expansionary budgets following a few years of tightening expenditures because of lower oil revenues, and will prioritise critical investments in their energy sectors. Commenting on the report, Dr Ahmed Ali Attiga, Chief Executive Officer of APICORP, said: “We expect the MENA region to continue investing heavily as major energy-exporting countries expand the size of their energy sector and strengthen their positions in global markets.” Our unique mission as a multilateral development bank for the Arab world puts us at the epicentre of the regional energy market, and our reputation as a trusted partner for financing projects is stronger than ever. With our detailed insight into the nature and amount of required investment in the region, we are well placed to support governments and private sector organisations seeking to execute landmark energy projects.” Mustafa Ansari, Senior Economist at APICORP, added: “We see three important trends materialising in our outlook: the first is higher allocation of capital towards the power sector, which now accounts for the bulk of planned investments as demand for electricity continues to increase. The second is the increase in committed investments, reflecting an improving investment climate and a healthy transition of projects from the planning phase towards execution. And third, the private sector has an increasing role to play in financing energy projects in the Middle-East, that will help ease fiscal pressures on governments.” Ghassan Al-Akwaa, Energy Sector Specialist, added: “The emphasis on diversification has never been more important and we are witnessing this across all sectors. Renewable energy will continue to see its role in the power generation mix increase while governments will continue in their efforts to integrate the supply chain and invest in new mega refining and petrochemical projects, opening many opportunities for private investments” The MENA Energy Investment Outlook report is published annually by APICORP and offers insight into the region’s most strategically important industry. Providing unique estimates for both committed investments and planned investments, it delivers a highly accurate indication of the execution likelihood of a given project. The publication is part of APICORP’s range of specialised research products catering to the needs of energy professionals in the private and public sectors and the wider financial community around the globe.

SWISS-BELHOTEL INTERNATIONAL PREPARES FOR A STRONG SHOW AT THE 25TH EDITION OF ARABIAN TRAVEL MARKET

Agency News
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SWISS-BELHOTEL INTERNATIONAL PREPARES FOR A STRONG SHOW AT THE 25TH EDITION OF ARABIAN TRAVEL MARKET

Dubai – Swiss-Belhotel International has a number of strategic global and regional announcements lined up for the Arabian Travel Market (ATM), taking place in Dubai from 22 to 25 April 2018. Attending the event will be the top team from the group led by Mr. Gavin M. Faull, Chairman and President of Swiss-Belhotel International.

Confirming the group’s presence at ATM, Mr. Laurent A. Voivenel, Senior Vice President, Operations and Development for the Middle East, Africa and India for Swiss-Belhotel International,said, “This year, marks the 25th anniversary of ATM which is the leading travel and tourism trade exhibition in the Middle East and we feel privileged to be part of it. With 6 new hotels opening in quick succession across the GCC over the next few months, it is also a very significant year for us at Swiss-Belhotel International. In addition, we are in advanced negotiation of some fabulous new projects in various other parts of the region that will be announced during ATM. Joining us on the occasion will be our key associates, owners and partners.”

With 16 new hotels, featuring more than 2,600 rooms in 12 cities, Swiss-Belhotel International currently has an extremely strong development pipeline in the Middle East and Africa. Mr. Voivenel stressed, “We are delighted to expand our footprint in the region adding exciting new destinations as we continue to deliver consistent growth and brand excellence for our hotel owners and guests. We are well positioned to take advantage of the growing demand for quality hotels in the region and are eager to capitalize on the various opportunities.”

Swiss-Belhotel International will be present at Arabian Travel Market from 22 to 25 April on stand ‘HC1130’ in Sheikh Saeed Hall in Dubai International Convention and Exhibition Centre.

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For media contact: Hina Bakht Managing Director EVOPS Marketing & PR Mob: 00971 50 6975146 Tel: 00971 4 566 7355 Hina.bakht@evops-pr.com www.evops-pr.com

About Swiss-Belhotel International

Swiss-Belhotel International currently manages a portfolio of more than 145* hotels, resorts and projects located in Cambodia, China, Indonesia, Malaysia, Philippines, Vietnam, Bahrain, Egypt, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, Australia, New Zealand, Bulgaria, Georgia and Tanzania. Awarded Indonesia’s Leading Global Hotel Chain for six consecutive years, Swiss-Belhotel International is one of the world’s fastest-growing international hotel and hospitality management groups. The Group provides comprehensive and highly professional development and management services in all aspects of hotel, resort and serviced residences. Offices are located in Hong Kong, New Zealand, Australia, China, Europe, Indonesia, United Arab Emirates, and Vietnam. www.swiss-behotel.com *Numbers may fluctuate

Tesla Q1 2018 Vehicle Production and Deliveries

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Tesla Q1 2018 Vehicle Production and Deliveries
Q1 production totaled 34,494 vehicles, a 40% increase from Q4 and by far the most productive quarter in Tesla history. 24,728 were Model S and Model X, and 9,766 were Model 3. The Model 3 output increased exponentially, representing a fourfold increase over last quarter. This is the fastest growth of any automotive company in the modern era. If this rate of growth continues, it will exceed even that of Ford and the Model T. We were able to double the weekly Model 3 production rate during the quarter by rapidly addressing production and supply chain bottlenecks, including several short factory shutdowns to upgrade equipment. In the past seven days, Tesla produced 2,020 Model 3 vehicles. In the next seven days, we expect to produce 2,000 Model S and X vehicles and 2,000 Model 3 vehicles. It is a testament to the ability of the Tesla production team that Model 3 volume now exceeds Model S and Model X combined. What took our team five years for S/X, took only nine months for Model 3. Given the progress made thus far and upcoming actions for further capacity improvement, we expect that the Model 3 production rate will climb rapidly through Q2. Tesla continues to target a production rate of approximately 5,000 units per week in about three months, laying the groundwork for Q3 to have the long-sought ideal combination of high volume, good gross margin and strong positive operating cash flow. As a result, Tesla does not require an equity or debt raise this year, apart from standard credit lines. Q1 deliveries totaled 29,980 vehicles, of which 11,730 were Model S, 10,070 were Model X, and 8,180 were Model 3. Net orders for Model S and X were at an all-time Q1 record, and demand remains very strong. Model S and X customer vehicles in transit were high. 4,060 Model S and X vehicles were in transit to customers at the end of Q1, which was 68% higher than at the end of Q4 2017. An additional 2,040 Model 3 vehicles were also in transit to customers. These vehicles will be delivered in early Q2 2018, which keeps us on track for our full-year 2018 Model S and X delivery guidance. Finally, we would like to share two additional points about Model 3:
  • The quality of Model 3 coming out of production is at the highest level we have seen across all our products. This is reflected in the overwhelming delight experienced by our customers with their Model 3’s. Our initial customer satisfaction score for Model 3 quality is above 93%, which is the highest score in Tesla’s history.
  • Net Model 3 reservations remained stable through Q1. The reasons for order cancellation are almost entirely due to delays in production in general and delays in availability of certain planned options, particularly dual motor AWD and the smaller battery pack. As described above, owner happiness with the product is extremely high.
We would like to thank our customers, suppliers and investors for their continued patience and belief in Tesla. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5%. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles. Forward-Looking Statements Certain statements herein, including statements regarding future production and delivery of Model S, Model X and Model 3 and expected gross margin and cash flow results, are “forward-looking statements” that are subject to risks and uncertainties. These forward-looking statements are based on management’s current expectations. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.
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