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Porsche selects Dubai Silicon Oasis for HQ April 2, 2008

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Porsche has just unveiled plans to open its regional headquarters of 6000 m² in Dubai Silicon Oasis Authority (DSOA). The DSOA is the region’s premier integrated innovations hub for high-tech industries. Shahla Ahmed Abdulrazaq, Deputy CEO of DSOA has signed the agreement with Deesch Papke, Managing Director- Porsche Middle East and Africa.The manufacturer will be locating its regional training center for their experts, technicians, and engineers. The new location will also assist other GCC countries, and Africa, with sales, after-sales, marketing and sales.

“The new headquarters for Porsche will complement our rapidly growing portfolio of leading global entities. We are confident our enabling services will match the high quality standards demanded by distinctive brands and contribute towards supporting their business objectives. Moreover, the placement of technical engineers at the Porsche headquarters falls in line with DSOA’s comprehensive strategy, especially that the number of engineers operating from within a technology park determines its level of success.”

– Shahla Ahmed Abdulrazaq, Deputy CEO – DSOA

The New Wave of Arabs Investments in Africa March 10, 2008

Posted by mylastresort in analysis, bahrain, qatar, saudi arabia, sovereign funds.
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Senegal will host a meeting of the Organisation of the Islamic Conference (OIC) in Dakar on March 13-14, at a time when many Middle East and North African  companies are making large investments in sub-Saharan Africa.

     Below are a list of some recent Arab investments by sector.  (more…)

T. Rowe Price sees value in Gulf, Africa stocks March 9, 2008

Posted by mylastresort in analysis, qatar, saudi arabia.
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trowepriceAsset Management Firm, T. Rowe Price released a report stating that Middle Eastern stocks, despite their huge surge last year, remain undervalued with the region’s banks, financials and infrastructure firms an especially attractive bet.

T. Rowe Price launched an Africa & Middle East Fund last September with $570m under management, making it one of many companies looking to boost its exposure to the oil and commodity-rich region. Joseph Rohm, an analyst dedicated to the fund, said the majority of its 30 to 40 stocks were in the Middle East and most of those were financials. He said expected currency revaluations, growing infrastructure spending and China’s growing presence in Africa provides scope for future gains.”We feel that valuation gives a lot of support … We still think of this region as massively undervalued and less volatile than other markets going forward. That will be a big support.”