I would like to wish you all a very happy, prosperous and peaceful new year.
PKF commiserate with the rulers and citizens of this country on the passing away of His Highness Sheikh Maktoum bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. We pray that his soul rests in peace and hope that his vision for Dubai will be carried forth by his successor Sheikh Mohammed Bin Al Maktoum.
On the economic front, in spite of higher oil prices, countries continue to grow. The growth was more noticeable in the Middle East and Asia. In Dubai and the UAE the real estate boom continues unabated, with stock markets and the IPOs performing well. The Government of the UAE has taken a more active role with promises of more liberalization, GCC integration, free trade, and pacts with several countries. I am sure that these measures will bear fruit in the coming years and we will see 2006 doing as good as, if not better than the previous year.
I am particularly happy to inform you that PKF has completed its thirty years in the UAE and later in the year we will have celebrations marking our 30th anniversary.
Abu Dhabi based atlas Telecommunications has played a major role in the telecommunications field of the UAE for the past 23 years. In the interview column Mr. Arild Fotland, Senior Vice President and General Manager of Atland Telecommunications speaks about the company.
In this issue we have profiled BankMuscat, the biggest and most profitable and fastest growing bank in Oman. Their CEO Mr. AbdulRazak Ali Issa is a veteran banker of many years experience. Mr. Ali issa speaks about the region and the strategy behind Bank Muscat's phenomenal growth.
We have also profiled Mubadala Development, a wholly owned investment vehicle of the Government of Abu Dhabi. I am sure you will find this interesting reading.
Apart from the above, they are several other features which will bring you up-to-date developments in different fields of our practice Also we have our usual updates on the happenings in the UAE, Oman and the offshore and free zone world.
Please feel free to write (update@pkfuae.com) if you would like to express an opinion on any matter inside.
