From the Managing Partner's Desk

Dubai International Financial Exchange (DIFX) opened its doors for business on 26 September 2005. Located between Western Europe and East Asia, it aims to transform the region's financial landscape. Many companies and institutions in the region will now find it easier to list their equities, bonds, funds, Islamic products and other securities. DIFX will list securities from many different countries and seeks to attract large numbers of international brokers, including some of the world's largest investment banks. Interestingly Deutsche Bank was the first to list with five of its securities products.

TAMWEEL which has become Dubai's leading provider of home mortgage products and services was established only in 2004 and in a short time has made great progress. Its young and dynamic CEO Mr. Adel Al Shirawi in his guest column talks about the role it seeks to play in the development of the home mortgage industry in the UAE.

The Landmark Group has made a name for itself with concept stores offering quality goods to discerning customers. Recently, their Oasis Centre mall on Shk. Zayed Road in Dubai, which was undergoing major renovation, was ravaged by fire. We met with Landmark Group CEO, Mr. Micky Jagtiani to understand what the Group has learnt from the event. Mr. Jagtianis' responses are featured in an Interview.

In a previous volume (VOL 7, Issue 1 - January 2005) we talked of succession issues facing patriarchs of family businesses. In this issue we discuss key considerations to be borne in mind before embarking on the plan.

Dubai is now a shining star on the diamond business horizon. We reproduce an article by our director, Ravi Chitnis, about the challenges that need to be addressed.

We also feature an article by our HR Consultant (profiled in this issue) on the importance of Induction Programs in welcoming and integrating new staff into an organization.

We also have our usual updates on happenings in the Sultanate of Oman and the Offshore world.

Please feel free to write (update@pkfuae.com) if you would like to express an opinion on any matter inside.