Comfort and convenience at the new Holiday Inn Express® Paris – Charles De Gaulle Airport

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Comfort and convenience at the new Holiday Inn Express® Paris – Charles De Gaulle Airport
The largest Holiday Inn Express® in France opens at one of Europe’s busiest airports Directly connected to Terminal 1, the Holiday Inn Express® at Paris – Charles de Gaulle (CDG) Airport, an IHG® hotel, has recently opened to provide guests with easy access to one of the world’s busiest airports as well as speedy transport links into central Paris. Gone are the days of waiting in the airport for a ten hour lay-over, or waking up at the crack of dawn to catch an early morning flight. The newly-opened Holiday Inn Express Paris – CDG Airport is the perfect destination for travellers who want to make their next trip that little bit easier. The newly built 305-room Holiday Inn Express ‘Next Generation’ property has been designed with guests’ needs in mind. Each room features wide beds with noise-absorbing headboards, bed-side built-in USB ports, plasma screens that can be connected to personal devices to stream media, a power shower and free Wi-Fi available throughout the hotel. In the modern public spaces, guests can also enjoy an Express Start Breakfast™ included in their room rate, offering a selection of hot and continental food. The Express Café & Bar is also open 24/7 so there’s always a place for jet-lagged travellers, late arrivers or early risers to grab a bite. The hotel also boasts naturally lit meeting spaces which are available for business meetings.

Mike Greenup, Vice President, Marketing for EMEAA (Europe, Middle East, Asia and Africa) at IHG, commented: “This greatly anticipated hotel offer guests everything they need for a stopover, just metres from the terminal of one of the world’s most vibrant airports. Whether guests are staying with us at the beginning or end of their trip, we know our hotel will help to get their travels off to a great start or a perfect finish. Our goal is to put the right brands in the right locations and this hotel is another great example of the Holiday Inn Express brand in Europe.”

Arnaud Vermerie, GM of Holiday Inn Express Paris – CDG Airport commented: “Paris is already a European travel hub and our new hotel is in a prime position to support the needs of business and leisure guests alike. We’re also in a great location for those who wish to venture into central Paris as we are right opposite the train station. More importantly, we offer a comfortable bed and a power shower to leave all travellers feeling refreshed.”

Holiday Inn Express is IHG’s largest and fastest growing hotel brand globally with 2,600 hotels open and an additional 766 set to open in the next few years. Across Europe, there are 244 Holiday Inn Express hotels open and 67 in the development pipeline, 9 of which will be in France. Across all its brands, IHG has 56 hotels open in France, and a further 15 in the development pipeline. For further information please contact:
Iman Denney-Brown iman.denneybrown@ihg.com +44 (0) 1895 512 267

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

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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.

Amazon Key Features—Keyless Entry, Guest Access, and Ability to Monitor and Lock/Unlock Your Door from Anywhere—Now Available Nationwide

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Amazon Key Features—Keyless Entry, Guest Access, and Ability to Monitor and Lock/Unlock Your Door from Anywhere—Now Available Nationwide

Amazon Key everyday use features are now available to all Amazon customers in the U.S.; Prime members in 37 cities can continue to take advantage of optional in-home delivery

Expansions to Amazon Key also include a broader lock selection from two of the world’s top lock makers, Kwikset and Yale, and entry and exit video clips during guest access

Today Amazon announced the expansion of Amazon Key’s smart entry features to all customers nationwide, including keyless entry, remote lock and unlock, and guest access. The in-home delivery feature continues to be available only to Prime members in 37 select cities and surrounding areas. Amazon also added a new feature to Amazon Key: entry and exit clips for guests, friends, and family. With this feature, customers have the option to view motion video clips of a person entering or leaving when the door is locked or unlocked. This provides customers with increased peace of mind and security with real-time notifications and the ability to watch the clips at their own convenience. Customers can turn on or off the entry and exit clips feature at any time in the Amazon Key App. “Customers have told us that they love how easy it is to use Amazon Key for keyless entry and door monitoring from anywhere with the Amazon Key App,” said Rohit Shrivastava, General Manager, Amazon Key. “It’s a great service for busy families; you no longer have to worry about giving keys to service providers like house cleaners, instead you can give them their own code right from your Amazon Key App. We’re excited that customers across the country can now take advantage of these convenient features.” In addition to in-home delivery, Amazon Key makes customers’ lives easier in many ways. No more leaving a physical key under a door mat; customers can lock and unlock their door from anywhere using the Amazon Key App with the touch of a button. Customers also have the added security of providing codes to guests for home access, managing their guest list, and assigning when and for how long a guest has access. Amazon Key customers can also use their app to view a live stream of their door anytime, use two-way audio, and receive notifications when their door is locked or unlocked. And, customers can use Alexa to lock their door, ask for lock status and view the live feed from their Cloud Cam on compatible devices like Fire TV, Echo Spot, and Echo Show. Customers across the country can now choose from five new smart locks from leading lock manufacturers Kwikset and Yale. This expands the selection to a total of eight state-of-the-art smart locks available in three finishes as part of the Amazon Key Home Kit. Some of the new features include full touch screen keyless entry for added security and contemporary new styles to fit the aesthetic of any door. For a limited time, customers can purchase the Amazon Key Home Kit at a special price, with savings between $109.99-139.99 per Kit. The Kit includes an Amazon Cloud Cam (Key Edition) and one of eight compatible smart locks. Customers can visit www.amazon.com/keykit to see the new lock options and order the Amazon Key Home Kit. As before, Prime members in 37 cities and surrounding areas across the U.S. have the added benefit of being able to opt in to in-home delivery. Amazon Key in-home delivery is available on tens of millions of items sold on Amazon.com at no extra cost for Prime members. Amazon Key works with Same-Day, Two-Day, and Standard Shipping. Once set-up is complete, receiving in-home delivery is as simple as a click: customers select “in-home” while shopping and Amazon handles the rest. About Amazon Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about and follow @AmazonNews. View source version on businesswire.com: https://www.businesswire.com/news/home/20180405005674/en/ Source: Amazon.com, Inc. Amazon.com, Inc. Media Hotline Amazon-pr@amazon.com www.amazon.com/pr

AHIC 2018: Significant opportunities for Middle East investment

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AHIC 2018: Significant opportunities for Middle East investment
The Arabian Hotel Investment Conference 2018 is forecasting significant opportunities for hotel investors targeting the Middle East in light of new data from MEED Projects, which predicts that more than US$14 billion worth of hotel construction contracts will be awarded in 2018. According to MEED Projects, the online projects tracking service, the value of new hotel investments in the MENA region could hit a record high in 2018. Ed James, director of content and analysis at MEED Projects, said: “After a relatively subdued 2017 up to end of November which has seen US$5.45 billion worth of new hotel construction contracts awarded, the value of hotels due to be awarded next year is more than US$14 billion. This total would comfortably exceed the US$8.5bn awarded in 2016 and the previous record of US$11.9 billion awarded in 2015.” James added: “On the back of its forecasted performance, investment in hotels will comprise about seven per cent of the total US$200 billion scheduled projects spending in the MENA region next year, making it one of the most important construction subsectors. “On a country basis, the UAE will be by far the largest market, with an expected US$8.4 billion worth of contracts, followed by Saudi Arabia at US$1.9 billion and Qatar at US$1.7 billion.” These figures will be discussed at the 14th edition of AHIC, which will be held at the purpose-built AHIC Village in the grounds of the Waldorf Astoria Ras Al Khaimah, UAE, in partnership with Ras Al Khaimah Tourism Development Authority. Jonathan Worsley, chairman of Bench Events, said: “These new figures are exciting for the Middle East hospitality investment community, which gathers annually at AHIC. “With oil prices now trading significantly higher than the January 2016 lows, we expect to see signs of recovery and stability in most regional economies.” AHIC 2018, which promises to further knowledge, deepen existing relationships and forge new ones among the leaders of the hospitality investment community, will attract around 800 hotel investors, major developers, leading financiers, and C-level hotel executives to attend three days of content, networking and events. Partner of AHIC 2018, Haitham Mattar, chief executive, RAKTDA, added that hotel investors would need to rise to the challenge of meeting the shifting demands of travellers and the specific requirements of certain demographic and geographic groups, such as millennials, families, and baby boomers, as well as halal travellers and those from emerging markets such as China and India. “Investors need to understand these requirements and must also take into consideration from the outset which type of technology will drive the sector in the future – they need to consider this right at the beginning or risk becoming rapidly irrelevant,” said Mattar. He observed: “The biggest risk for hotel investors is not embracing the changes and challenges outlined above and expecting traditional business to keep on coming. “It’s no longer a case of build it and they will come. “It’s more a case of build what they want, and they will come. “There’s a lot of competition on the global scene for the business of the new emerging markets. “The hotel guest is now very much in the driving seat from the very design and product development phase.”

Ruth Porat to Join Google as Chief Financial Officer

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Ruth Porat to Join Google as Chief Financial Officer
Google Inc. (NASDAQ: GOOG) today announced that Ruth Porat, currently Chief Financial Officer at Morgan Stanley, will join its management team as CFO. Ruth joined Morgan Stanley in 1987 and has played several key roles at the company, including Vice Chairman of Investment Banking, Global Head of the Financial Institutions Group and and co-Head of Technology Investment Banking. Throughout the financial crisis, Ruth led the Morgan Stanley teams advising the U.S. Treasury on Fannie Mae and Freddie Mac, and the New York Federal Reserve Bank on AIG. She has been the lead banker on numerous milestone technology financing rounds, including for Amazon, eBay, Netscape, Priceline and Verisign as well as for The Blackstone Group, GE and the NYSE. As CFO she helped improve resource optimization across different businesses through better capital and funding allocation, as well as expense reductions. Ruth has a B.A. from Stanford University (Economics & International Relations), a M.B.A. with distinction from The Wharton School of the University of Pennsylvania and a M.Sc., from the London School of Economics (Industrial Relations). She is Vice Chair of the Stanford University Board of Trustees, a member of the U.S. Treasury’s Borrowing Advisory Committee, a Board Director at The Council on Foreign Relations and a member of the Advisory Council of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution. Ruth will start at Google as CFO on May 26, reporting to Google CEO and Co-Founder, Larry Page. “We’re tremendously fortunate to have found such a creative, experienced and operationally strong executive,” said Larry Page. “I look forward to learning from Ruth as we continue to innovate in our core–from search and ads, to Android, Chrome and YouTube–as well as invest in a thoughtful, disciplined way in our next generation of big bets. Finally, huge thanks to Patrick Pichette for his seven super successful years as CFO”. “I’m delighted to be returning to my California roots and joining Google,” said Ruth Porat. “Growing up in Silicon Valley, during my time at Morgan Stanley and as a member of Stanford’s Board, I’ve had the opportunity to experience first hand how tech companies can help people in their daily lives. I can’t wait to roll up my sleeves and get started.” Contact: press@google.com

Tourism contributed over AED150 bn to Dubai’s GDP

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Tourism contributed over AED150 bn to Dubai’s GDP
A recent report from Knight Frank looks at how the development of tourism in Dubai is a major contributor to the country’s economy. 
The report makes five key findings: • Dubai International Airport (DXB), the world’s largest airport by international traffic, recorded 83.7 million passengers in 2016, up 26% from 2014. In 2017 this has increased further to over 88 million passengers. • In the hospitality sector, the total number of hotel keys per resident is highest at 29.9 per 1,000 people in Dubai, compared to our selected hub cities. • Currently Dubai is home to 104 five star-hotels (Dubai Corporation of Tourism & Commerce Marketing). • STR global indicates there are 53 hotels five-star hotels in planning or construction with opening dates before 2020. • Dubai’s average spend per overnight visitor is estimated to be over USD 2, 000 in 2017, the highest among Knight Frank’s global hub cities.
“For Dubai, the tourism market has historically been a strategically important sector. In 2017, it is estimated that the sector contributed over AED150bn to GDP (4.6% of GDP), and provide almost 570,000 jobs (4.8% of total employment). The sector’s direct contribution to GDP has increased by 138% in the 10 years to 2017 with employment in the sector growing by 119% over the same period,” said Knight Frank. Ali Manzoor, Associate Partner, Head of Hospitality said: “Despite facing challenging market conditions, Dubai’s hospitality sector remains amongst the top performers in the Middle East, underpinned by the Emirate’s positioning as a regional commerce hub and the development of world class demand generators. Visitation has for the most part continued to grow from key source markets with India and China notable standouts, and Russian visitation continuing its positive momentum from the previous year. We remain optimistic about the outlook of the sector and envisage that the market will once again stabilise once the rate correction has run its course,” he said. The report states that the real estate transactions for 2017 have increased by 6% in terms of number, and 4% in value when compared to AED 275.8 billion for 2015, and increased by 14% in number, and 6% in value compared to AED 268.7 billion for 2016. Bin Mejren added: “Looking at the details of the results from 2017, the sales of land, buildings and units in the Dubai real estate market totalled AED 114 billion through 49,000 transactions, while mortgages for the same three categories reached AED 138.5 billion through 15,700 transactions. There were approximately 4,000 other transactions valued at approximately AED 33.3 billion, where the total turnover for the year 2017 was AED 285.562 billion from 69,000 transactions.” For 2017, Dubai’s real estate market also has attracted investors from around the world, including Gulf nationals, Arabs and foreigners, with a total of 39,480 investors making nearly 53,000 transactions worth more than AED 107 billion. The UAE investor continued to lead the list of nationalities investing in the Dubai real estate market, where the value of their investments amounted to AED 25.307 billion. Indian investors followed with AED 15.6 billion and Saudis came third with investments exceeding AED 7 billion, followed by British and Pakistanis whose investments amounted to AED 6 and 5 billion, respectively. Other active investors include Chinese, Jordanians, Egyptians and Canadians. The report also reveals the top ten real estate sales areas in Dubai, with ‘Burj Khalifa’ taking first place in terms of value with 2,008 transactions worth AED 7.368 billion. ‘Business Bay’ followed in second place with 3,763 transactions worth AED 7.115 billion, while ‘Dubai Marina’ took third place with 3,300 transactions worth nearly AED 7 billion.

ALDAR LAUNCHES AED 10 BILLION MASTERPLAN – ALGHADEER

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ALDAR LAUNCHES AED 10 BILLION MASTERPLAN – ALGHADEER
Over 14,000 homes to be delivered over 15 years First neighbourhood of 611 homes on sale at Cityscape Abu Dhabi – maisonette prices start from AED290,000 and townhouses from AED899,900 Featuring HARVEST – supporting healthy and sustainable living Strategically located in Abu Dhabi, close to Dubai Expo 2020, capitalizing on UAE’s dynamic growth areas Aldar Properties PJSC (“Aldar”), announces the launch of a new AED10 billion masterplan that will incorporate and greatly enhance one of its already established destinations – Alghadeer, which sits close to the border of Abu Dhabi and Dubai within its Seih Al Sdeirah landbank. Alghadeer masterplan consists of 14,408 units, including villas, townhouses, and maisonettes. Total residential GFA is set to exceed 1.3 million sqm and will be complemented by office space, retail space, hospitality, education and community amenities. Commenting, Talal Al Dhiyebi, Chief Executive Officer, Aldar Properties said: “The launch of Alghadeer is clear statement of Aldar’s ambition. From its strategic location to its sustainable living initiatives, Alghadeer signals the creation of a new way of living for UAE residents, now and in the future. We are confident of the demand for a community which offers a distinct lifestyle – peaceful residential neighbourhoods, within close proximity to the bustling cities of Abu Dhabi and Dubai.  “This launch further underlines how Aldar is expanding its successful destination-led strategy to additional areas of Abu Dhabi, capitalizing on the UAE’s flourishing population as well as our reputation as Abu Dhabi’s leading developer. The scale and 15-year timeframe of the development underlines Aldar’s confidence in the Abu Dhabi residential market.” Alghadeer is designed to benefit from the significant growth being experienced in the north of Abu Dhabi and the south of Dubai. This area of the UAE includes major job creating projects such as Dubai Expo 2020, KIZAD, Dubai World Central incorporating Dubai South, the Al Maktoum Airport, as well as Dubai Industrial and Wholesale Cities, which will further boost the demand for high quality living spaces on the border of the two Emirates. With easy access to the UAE’s arterial highways, Alghadeer will become home to those seeking both connectivity, and an escape from city life. At the heart of Alghadeer is HARVEST, a multi-use agricultural led space featuring allotments, as well as THE HUB – a F&B outlet, THE STUDIO – an educational area for training and workshops, THE SHED – a dedicated area for purchasing farming tools and supplies, and THE MARKET – a retail area for freshly grown produce, and THE FIELD – where people can rent plots and grow their own produce. Appealing to those who prefer wide-open spaces and unique recreational amenities, the destination will also feature lakes, running and cycle tracks, gym, camping and BBQ sites and a network of walkable gardens and parks lit entirely by solar powered lights.   The new Alghadeer masterplan also includes schools, a hotel, public garden areas, community swimming pools, multi-use sports areas, and community centres. FIRST HOMES TO GO ON SALE AT CITYSCAPE ABU DHABI – 17TH APRIL Aldar will initially launch the first neighbourhood of 611 homes for sale during Cityscape Abu Dhabi taking place in the UAE Capital from 17-19 April. Customers will have the opportunity to purchase maisonettes, townhouses and villas. This neighbourhood is located to the north west of the masterplan, and near Alghadeer’s central amenities such as HARVEST. Prices within this first release will start from AED290,000 for maisonettes, with townhouses starting at AED899,900. Construction of this first neighbourhood is scheduled to commence in 2018 and be completed during 2021. A PROVEN TRACK RECORD IN THIS DESTINATION The new Alghadeer masterplan incorporates Aldar’s existing community of the same name which boasts over 2,000 homes and is a thriving destination for many families. Alghadeer’s key success factor is its proximity to major growth areas within the emirates of Abu Dhabi and Dubai which enables residents of Alghadeer to have greater choice over where they work, shop, travel, and educate their children. Alghadeer’s masterplan, development model and floorplans will be available to view at Cityscape Abu Dhabi, which runs from 17 – 19 April, 2018.

IEA Executive Director visits OPEC Secretary General at Vienna headquarters

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IEA Executive Director visits OPEC Secretary General at Vienna headquarters
Dr. Fatih Birol, the Executive Director of the International Energy Agency, accompanied by a delegation of senior IEA officials, visited the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna today, and met with its Secretary General, H.E. Mohammad Sanusi Barkindo.
Dr. Birol and Mr. Barkindo underscored the growing working relationship between both organizations and their commitment to continued dialogue and cooperation. They also exchanged views on recent oil market developments. Dr. Birol’s visit was a timely one, given this new impetus towards greater cooperation. Mr. Barkindo, along  with an OPEC delegation, had visited the IEA’s headquarters in September 2016, a month after he had assumed office. Today’s meeting highlighted the sustained dialogue between energy producers and consumers that is necessary to enhance stability, security and transparency in energy markets. Dr. Birol and his team shared their views on current and future energy markets, as well as on cooperation with other international organizations. Dr. Birol began his career at OPEC before joining the IEA more than two decades ago. He has since emphasized that a healthy dialogue between the IEA and OPEC is critical to help guarantee energy security in an environmentally sound and economically sustainable way. “Whether it is under the ‘umbrella’ of the International Energy Forum (IEF), or through coordinated joint research activities, closer ‘collaboration’ and ‘complementarity’ between our two organizations have become the watchwords of the day,” H.E. Mohammad Barkindo said. “I am pleased to visit the OPEC Secretary General and the OPEC Secretariat,” Dr. Birol said. “This meeting represents yet another fruitful opportunity to exchange views, discuss recent trends in the market and further deepen the important ties between our organizations.” OPEC’s Secretary General has been a strong advocate of advancing dialogue and cooperation among producers and consumers.

Data Abuse Bounty: Facebook Now Rewards for Reports of Data Abuse

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Data Abuse Bounty: Facebook Now Rewards for Reports of Data Abuse
Today, Facebook is launching the Data Abuse Bounty to reward people who report any misuse of data by app developers. We committed to launching this program a few weeks ago as part of our efforts to more quickly uncover potential abuse of people’s information. The Data Abuse Bounty, inspired by the existing bug bounty program that we use to uncover and address security issues, will help us identify violations of our policies.   This program will reward people with first-hand knowledge and proof of cases where a Facebook platform app collects and transfers people’s data to another party to be sold, stolen or used for scams or political influence. Just like the bug bounty program, we will reward based on the impact of each report. While there is no maximum, high impact bug reports have garnered as much as $40,000 for people who bring them to our attention. We’ll review all legitimate reports and respond as quickly as possible when we identify a credible threat to people’s information. If we confirm data abuse, we will shut down the offending app and take legal action against the company selling or buying the data, if necessary. We’ll pay the person who reported the issue, and we’ll also alert those we believe to be affected. This program is the first of its kind so it will change as we learn and get your feedback. For more information, please visit: facebook.com/data-abuse

Hard Questions: What Data Does Facebook Collect When I’m Not Using Facebook, and Why?

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Hard Questions: What Data Does Facebook Collect When I’m Not Using Facebook, and Why?
Last week, Mark Zuckerberg testified in front of the US Congress. He answered more than 500 questions and promised that we would get back on the 40 or so questions he couldn’t answer at the time. We’re following up with Congress on these directly but we also wanted to take the opportunity to explain more about the information we get from other websites and apps, how we use the data they send to us, and the controls you have. I lead a team focused on privacy and data use, including GDPR compliance and the tools people can use to control and download their information. When does Facebook get data about people from other websites and apps? Many websites and apps use Facebook services to make their content and ads more engaging and relevant. These services include:
  • Social plugins, such as our Like and Share buttons, which make other sites more social and help you share content on Facebook;
  • Facebook Login, which lets you use your Facebook account to log into another website or app;
  • Facebook Analytics, which helps websites and apps better understand how people use their services; and
  • Facebook ads and measurement tools, which enable websites and apps to show ads from Facebook advertisers, to run their own ads on Facebook or elsewhere, and to understand the effectiveness of their ads.
When you visit a site or app that uses our services, we receive information even if you’re logged out or don’t have a Facebook account. This is because other apps and sites don’t know who is using Facebook. Many companies offer these types of services and, like Facebook, they also get information from the apps and sites that use them. Twitter, Pinterest and LinkedIn all have similar Like and Share buttons to help people share things on their services. Google has a popular analytics service. And Amazon, Google and Twitter all offer login features. These companies — and many others — also offer advertising services. In fact, most websites and apps send the same information to multiple companies each time you visit them. What kind of data does Facebook get from these websites and apps?  Apps and websites that use our services, such as the Like button or Facebook Analytics, send us information to make their content and ads better. To understand more about how this happens, it helps to know how most websites and apps work. I’ll use websites as an example, but this generally applies to apps, too. When you visit a website, your browser (for example Chrome, Safari or Firefox) sends a request to the site’s server. The browser shares your IP address so the website knows where on the internet to send the site content. The website also gets information about the browser and operating system (for example Android or Windows) you’re using because not all browsers and devices support the same features. It also gets cookies, which are identifiers that websites use to know if you’ve visited before. This can help with things like saving items in your shopping cart. A website typically sends two things back to your browser: first, content from that site; and second, instructions for the browser to send your request to the other companies providing content or services on the site. So when a website uses one of our services, your browser sends the same kinds of information to Facebook as the website receives. We also get information about which website or app you’re using, which is necessary to know when to provide our tools. This happens for any other service the site is using. For example, when you see a YouTube video on a site that’s not YouTube, it tells your browser to request the video from YouTube. YouTube then sends it to you. How does Facebook use the data it receives from other websites and apps?  Our privacy policy explains in detail what we do with the information we receive — and we just updated the policy to make it easier to read. There are three main ways in which Facebook uses the information we get from other websites and apps: providing our services to these sites or apps; improving safety and security on Facebook; and enhancing our own products and services. I’ll share a little more about each of these, but first I want to be clear: We don’t sell people’s data. Period. Providing Our Services
  • Social plugins and Facebook Login. We use your IP address, browser/operating system information, and the address of the website or app you’re using to make these features work. For example, knowing your IP address allows us to send the Like button to your browser and helps us show it in your language. Cookies and device identifiers help us determine whether you’re logged in, which makes it easier to share content or use Facebook to log into another app.
  • Facebook Analytics. Facebook Analytics gives websites and apps data about how they are used. IP addresses help us list the countries where people are using an app. Browser and operating system information enable us to give developers information about the platforms people use to access their app. Cookies and other identifiers help us count the number of unique visitors. Cookies also help us recognize which visitors are Facebook users so we can provide aggregated demographic information, like age and gender, about the people using the app.
  • Ads. Facebook Audience Network enables other websites and apps to show ads from Facebook advertisers. When we get a request to show an Audience Network ad, we need to know where to send it and the browser and operating system a person is using. Cookies and device identifiers help us determine whether the person uses Facebook. If they don’t, we can show an ad encouraging them to sign up for Facebook. If they do, we’ll show them ads from the same advertisers that are targeting them on Facebook. We can also use the fact that they visited a site or app to show them an ad from that business – or a similar one – back on Facebook. (Updated April 16, 2018 at 5:30PM to clarify that people with Facebook accounts will see Audience Network ads from the same advertisers targeting them on Facebook.)
  • Ad Measurement. An advertiser can choose to add the Facebook Pixel, some computer code, to their site. This allows us to give advertisers stats about how many people are responding to their ads — even if they saw the ad on a different device — without us sharing anyone’s personal information.
Keeping Your Information Secure We also use the information we receive from websites and apps to help protect the security of Facebook. For example, receiving data about the sites a particular browser has visited can help us identify bad actors. If someone tries to log into your account using an IP address from a different country, we might ask some questions to verify it’s you. Or if a browser has visited hundreds of sites in the last five minutes, that’s a sign the device might be a bot. We’ll ask them to prove they’re a real person by completing additional security checks. Improving Our Products and Services The information we receive also helps us improve the content and ads we show on Facebook. So if you visit a lot of sports sites that use our services, you might see sports-related stories higher up in your News Feed. If you’ve looked at travel sites, we can show you ads for hotels and rental cars. What controls do I have?  As Mark said last week, we believe everyone deserves good privacy controls. We require websites and apps who use our tools to tell you they’re collecting and sharing your information with us, and to get your permission to do so. We give you a number of controls over the way this data is used to provide more relevant content and ads:
  • News Feed preferences lets you choose which content you see first and hide content you don’t want to see in your feed. You can also view your News Feed chronologicallyinstead of ranked by what Facebook predicts you might be most interested in.
  • Ad preferences shows you the advertisers whose ads you might be seeing because you visited their sites or apps. You can remove any of these advertisers to stop seeing their ads.
    • In addition, you can opt out of these types of ads entirely — so you never see ads on Facebook based on information we have received from other websites and apps.
    • Finally, if you don’t want us to use your Facebook interests to show you ads on other websites and apps, there’s a control for that too.
Whether it’s information from apps and websites, or information you share with other people on Facebook, we want to put you in control — and be transparent about what information Facebook has and how it is used. We’ll keep working to make that easier.

Mubadala Petroleum Signed Andaman I PSC in Indonesia

Agency News
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Mubadala Petroleum Signed Andaman I PSC in Indonesia
Mubadala Petroleum announces that it has signed the Production Sharing Contract (PSC) for Andaman I, as awarded by the Government of Indonesia in the 2017 Indonesian Licence Round. Mubadala Petroleum is the operator of the Andaman I PSC and a partner in the Andaman II PSC, operated by Premier Oil, which was also signed last week. The Andaman I and II PSCs are adjacent and located in the underexplored but proven North Sumatra basin offshore Aceh, a region that Mubadala Petroleum has been involved in since 2011 through joint study agreements.  The PSCs have the potential to unlock a new material gas play for domestic consumption in North Sumatra and indeed long term export to regional markets. The work commitment for the Andaman I exploration block is to conduct sub surface studies and to acquire 3D seismic, in the first 3 year term. Dr Bakheet Al Katheeri, Mubadala Petroleum’s Chief Executive Officer, commented:” The operated Andaman I PSC and our interest in the Andaman II PSC, mark the further extension of our Indonesia portfolio with a new high impact growth hub. These new exploration blocks support our growth strategy of finding and, if successful, developing gas for Indonesia’s growing market while it has the potential to deliver significant organic growth opportunities for our existing Indonesian business in the longer term.”
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