From the Managing Partner's Desk

You will recall we had reported an exciting development in the January 2003 Update, about the agreement reached with Polaris North America for it to become PKF's North American member firm from 1 January 2003. The move, bringing with it 81 member firms with over 150 offices and gross fees of US$ 405 Million, has provided the PKF network with greatly increased coverage in North America and taken its global turnover to nearly US$ 1 billion. The PKF family now comprises 13,500 partners and staff in 242 firms across 114 countries.

The dynamism of the UAE is reflected in the article on the Dubai Airport Free Zone by Dr.Mohammed Al Zarooni in the Guest Column.

Mr. Khaled Al Wahaibi, the scion of one of the leading business groups in Oman is interviewed in this issue and shares his thoughts on business, Omanisation and his vision for the future.

High returns come coupled with high risk and this issue is highlighted in the article on investments. We also have an article on the recently issued Jebel Ali Free Zone Offshore Companies Regulations, 2003 along with our usual update on happenings in the PKF/RSM family and on the offshore front.

The war in Iraq has come to an end and the fresh round of talks in the middle-east bodes well for the future. Entrepreneurs please note - the time is now.

M.A.RAFIK.