Dubai Men’s College students build friendship, skills and knowledge on an international field trip.
Through the generous sponsorship of DP World, Dubai Financial Markets and Zabeel Investments, DMC Financial Service Higher Diploma Year 3 students recently visited Switzerland on an educational field trip.
They visited a number of organizations including UBS Wealth Management and Investment Banking, a private bank Lombard Darien Odier Hentsche & Cie, the IMD Business School, a recycling facility, a chocolate and watch factory.
UBS Executive Director Mr. Beat Frey provided an introduction to the concept of wealth management and presentations were made on two other areas in investment solutions and wealth planning. The students raised questions related to investing in Dubai real estate which encouraged an exploration around risk and return, quick returns and long-term investments. In addition, the students participated in a simulation to develop an Investment Portfolio using proprietary UBS software. As a result of this successful visit, UBS offered to share its planning materials with DMC to use in the classroom for the benefit of all business students.
Time was taken to appreciate sustainable development and environmental conservation at the KVA Incinerator Recycling Plant. . The plant commenced operations in 1971 and converts approximately 85,000 tons of waste material annually into central heat and electricity for use in the community through a distributed energy network. The students had many questions concerning the level of recycling activity that is carried out in Dubai. Could incineration also provide power for Dubai’s electricity needs? In addition they considered the impact of economic sanctions to encourage ‘greener’ consumer behaviour and discussed many of the practical issues surrounding a planned and coordinated recycling process for a country. “It was a great opportunity to visit the recycling plant, and it’s a good idea that could be studied and implemented in our country” commented Ahmed Sulaiman, Year 3 Financial Services student
The students recently took the opportunity to thank their sponsors in an informal presentation for an experience which has made a significant impact in their lives and education. At the presentation, Tony Degazon, Business Program Chair said “This trip was a remarkable achievement for students, faculty, college and sponsors. The students have developed confidence, independence, a broader understanding of relevant skills and knowledge and created new and lasting relationships. It’s been a wonderful success and one which we hope we can repeat again”.
Petro Rabigh IPO Subscription Exceeds
SAR 5.6 billion In Four Days
• Over 2.8 million Saudis subscribe to IPO in four days
• Response highlights investor confidence in Petro Rabigh
Rabigh, Saudi Arabia, January 9, 2008: HSBC Saudi Arabia Limited, the Financial Advisor and Lead Manager for the initial public offering (IPO) of Petro Rabigh, announced today that subscription in the IPO has exceeded SAR 5.6 billion as of Tuesday (January 8, 2008), which reflects the high level of investor confidence in Petro Rabigh’s potential.
At the end of Tuesday (January 8, 2008), applications had been received from 2.86 million subscribers, with the total amount subscribed reaching SAR 5.65 billion.
Timothy Gray, Chief Executive Officer of HSBC Saudi Arabia, said, “The overwhelming initial response to this landmark IPO demonstrates the confidence that Saudi investors have placed in Petro Rabigh.”
About Petro Rabigh:
Petro Rabigh, launched in September 2005 as a 50:50 joint venture between Saudi Aramco and Sumitomo Chemical, is one of the largest combined oil refinery and petrochemical production facilities ever to be built at one time. Saudi Aramco will supply Petro Rabigh with the feedstock necessary to operate the plant, including ethane, on a long-term, fixed-price basis and will market the refined products produced by Petro Rabigh. Sumitomo Chemical will provide petrochemical international sales and marketing expertise, as well as technology licensing.
Petro Rabigh’s mission is to inspire its employees to ensure that it is the global leader in its industry. Through its strong ethics, human talent, best practices and diversified products, the company will meet the needs of its clients and add value for its partners, customers, shareholders, employees and communities. Petro Rabigh is committed to environmentally sustainable development.
